Let's Chatt - A Lenders Perspective on the Market

518 Georgia Avenue,Chattanooga TN 37403

20 October, 2022

Description

We can't wait to see your for this month's Let's Chatt seminar! This month, we will have two local guest speakers sharing their experience and providing us with information to take advantage of this market. Our first speaker with be Jill McLean with Pinnacle Financial Partners. Jill is excited to discuss the Shared Equity program with our group of investors. The Shared Equity program partners with investors to cover most of a home purchase price and home buyers are only required to provide 1% of the purchase price while 25% is covered by the Housing Fund and 74% comes from a loan through one of the partner financial institutions. Pinnacle is a partner and gave 10mil to the fund. This is a conventional loan that is kept on our books. Once a home buyer is ready to move on, they can sell to another qualified low-to-moderate buyer. In order to keep it affordable, The Housing Fund gets back it’s 25% contribution at 0% interest at closing. Additionally, any appreciation in value is split equally between the seller and The Housing Fund. The Housing Fund then reinvests this money back into the home by helping the next buyer with 25% contribution to their purchase. Helping more home buyers participate in Shared Equity with different properties. Our second speaker will be Kevin Blair with Element Home Loans. Kevin will talk about rising interest rates and how that has impacted buyers. He will also give his thoughts about how the changes in interest rates could impact the market. About Jill McLean Jill McLean has been in the Chattanooga mortgage industry since 1992, and she loves being able to help folks achieve their dreams of home-ownership. It's all about relationships. Jill's clients become lifelong friends who come back to her with any future home buying needs--and they even refer their friends and family! She says that it's truly a humbling experience. When she is not working hard to meet her client's needs, she enjoys hiking, gardening and spending time with family and friends. About Kevin Blair Kevin has 40 years of lending experience including 20 years as a Top Producer. He has helped more than 2,700 people secure the dream of home ownership. Kevin takes pride in quoting exact fees and giving sound financial advice. He is a straight shooter and will tell you the truth every time! Kevin resides in Chattanooga along with his wife and has three children and nine grandchildren. We look forward to seeing you on Thursday, July 21st at 5pm! We will be hosting this event in our office at 518 Georgia Ave, Chattanooga TN. Snacks and drinks will be provided. For those of you interested, but unable to attend the event in person, we will be streaming live at the zoom link below. https://us06web.zoom.us/j/81898547302?pwd=c3FsR0lkamFSYzlsQVo5OVNqN3dSdz09