Category: Industry News

The Benefits of Working With A Local Lender

In today’s modern age, there is no shortage of online lending options. However, when it comes to home financing, local is still the way to go.

Buying a home could be one of your biggest investments. Although financing with an online lender may seem convenient, it comes with big tradeoffs. What you seemingly gain in convenience, you lose in personalized guidance and expertise. No two loans are the same. Each client has their own set of unique circumstances and it’s always better to work directly with a mortgage professional who has your best interests at heart.

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USDA New Income Limits in Minnesota Announcement

USDA New Income Limits in MinnesotaOn Wednesday, June 13th, new income limits went into effect for USDA loans in Minnesota. These household income limits vary by region and help determine eligibility for rural development home loans. There are many benefits to USDA loans, the most notable being that they don’t require a down payment.  You also may be surprised to discover where they are available.

To learn more about the new limits in your area and what they mean for home buyers, contact a Marketplace Home Mortgage Loan Officer today.

 

 

Source: www.RD.USDA.COM/MN
*Data for 1-4 person households

Looking Back on 2017

As we head into another year at Marketplace Home Mortgage L.L.C., we have a lot to be thankful for. 2017 was a year of tremendous growth.

We opened new locations in Sioux Falls, SD, Clive, IA, and Portsmouth, NH. We also hired 130 new employees across the country.

Throughout the year we were honored to receive some awards and recognition. In August, Marketplace Home Mortgage was named Best Mortgage Company in the Twin Cities by voters in the 2017 Twin Cities Business Magazine Reader Poll. As the year progressed, we were also recognized as Number 27 on the list of the 50 Fastest Growing Companies in the Twin Cities by Twin Cities Business Magazine.

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FHFA Announces an Increase in Loan Limits For 2018

On Tuesday, The Federal Housing Finance Agency (FHFA) announced an increase in maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018.

The FHFA stated that loan limits will be raised to reflect the change in U.S. home prices. The press release distributed by the agency states:

According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.8 percent, on average, between the third quarters of 2016 and 2017.  Therefore, the baseline maximum conforming loan limit in 2018 will increase by the same percentage.” – Federal Housing Finance Agency 

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Marketplace Home Mortgage Named One of the Fastest Growing Companies in the Twin Cities

Marketplace Home Mortgage, L.L.C. is proud to be recognized as one of the Twin Cities’ 50 Fastest-Growing Private Companies by Minneapolis-St Paul Business Journal.  Landing at No. 27 with a growth rate approaching 72 percent, we have a great team to thank for such an exciting year of enhancement and expansion.

To qualify for consideration for the Fast 50 List, businesses had to be privately held, for-profit companies in the Twin Cities metro area. Growth rates and financial information were verified by accounting firm Abdo, Eick & Meyers.

Our president and CEO, Keith White, talked with Minneapolis St. Paul Business Journal about the challenges of growth, the importance of a strong team, and plans for the years ahead.

Read more about Marketplace Home Mortgage’s fast growing business.

 

Rewarded Best Mortgage Company – Voted “Best of Business”

We are proud to share that Marketplace Home Mortgage was voted Best Mortgage Company in this year’s TC Business Reader Poll.

Each year, TC Business Magazine works with DataJoe Research to accumulate votes for their “Best of Business” Awards.  Through the process, they survey thousands of professionals to determine which companies exemplify excellence in their respective industries.

We are honored to be recognized. Thank you to all of the clients and industry peers who voted for us. Our mission is to provide our customers with the best possible mortgage experience, and we are so proud to know that you are experiencing the excellence we always strive for.

Thank you for your business. It is truly an honor to serve you.

As always, contact us with any questions or concerns.

New Hires in Michigan and Florida

mortgage lending industry
Al Duoba

We are pleased to welcome new team members to more branches across the US.

Al Duoba has joined MPH Mortgage in Novi, MI. With over 25 years of experience in the mortgage lending industry, Al has worked as a Loan Officer, Branch/Sales Manager, and Broker Owner.  When asked why he chose to work with MPH, Al says, “I saw Marketplace’s innovative approach of using Marketing Coordinators, a solid product line, and their On-Time Closing Guarantee as real differentiators in the marketplace.” He joins our Novi office as the Branch Manager where he will serve home buyers and help grow MPH’s presence in South Eastern Michigan. READ MORE

Marketplace Home Mortgage Expands into Iowa

marketplace
Senior Mortgage Loan Officer, Sara Lindecker NMLS# 746725

We are excited to announce that Marketplace Home Mortgage will be adding an Iowa market to our growing list of service areas and locations.  As part of this expansion, we will be welcoming Senior Loan Officer, Sara Lindecker, a 15-year veteran of the Dubuque area market.

“Sara’s experience gives us an anchor in eastern Iowa as we expand across the state,” said Marketplace Business Development Manager Craig Nester. “She’s the perfect ambassador to show Iowans how Marketplace outperforms our competition.” READ MORE