Mason Whitehead | Source | Branch Manager at Churchill Mortgage
Mason Whitehead
Mason is a Branch Manager at Churchill Mortgage. He looks at his customers overall financial picture with the goal of helping them achieve debt-free home ownership. Mason believes by pursuing and achieving that goal we can create a lasting legacy, not only for his customer, but also for their family - which can impact future generations. He has been with Churchill Mortgage for 9 years and has been in the mortgage industry for 13 years.
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Churchill Mortgage
Branch Manager
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Current FHA interest rates
See current FHA interest rates and discover how these might impact your monthly mortgage payment. FHA mortgages have some of the lowest rates available.
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15-year mortgage rates: Compare January 2024 APRs
Current 15-year mortgage rates have steadily risen, but still offer significant savings over 30-year loans. Learn whether a 15-year loan is right for you.
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How to Get the Lowest Mortgage Rate
Mortgage rates are climbing. Here’s how to get the lowest one you can.
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Expert Tips: Boost Your Finances Before Applying for a Mortgage
Mason advises checking your credit through credit bureaus to avoid surprises, managing debt by keeping credit card balances low, and practicing mortgage payments by saving the difference between current rent and future mortgage costs. Mason says, "Budgeting is about priorities – and having a home you own is the #1 wealth creator for most Americans." -
U.S. Housing Market Shifts: Buyers Gain Leverage Amid Rising Incentives
Mason notes the market is "definitely tipping towards buyers," with sellers offering incentives like closing cost coverage. He highlights the need for "net new buyers" and anticipates price cuts in new constructions. Despite high mortgage rates, sellers are more willing to negotiate, creating opportunities for buyers and potential landlords. -
Understanding Jumbo Loans: Beyond Mansions and Myths
Mason explains that jumbo loans exceed $806,500 in most markets. They apply to any residential property above conforming loan limits, not just mansions. "Jumbo loans require higher down payments and stricter credit criteria." Borrowers should weigh the benefits of a two-loan structure for smaller jumbo loans. No additional risks are associated with jumbo loans compared to conventional ones.
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The credit score hits to pricing on conventional loans are pretty substantial, so if you don’t have top-tier credit scores, it may be more beneficial to take an FHA loan rather than a conventional one. We used to say a 700 score and up went conventional, but lately, it can be clients with credit scores over 700 still benefiting from an FHA loan program.
