Matthew Locke | Source | National Mortgage Sales Manager at UMB Bank
Matthew Locke
Matthew Locke is the National Mortgage Sales Manager at UMB Bank. Matthew is a forward thinking, action oriented, and bottom-line focused leader with a demonstrated history of operational process improvements, exemplary customer service, successful coaching, proactive compliance to industry and federal standards, and sustained over-achievement throughout tenure.
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UMB Bank
National Mortgage Sales Manager
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Gen Z Is Putting This Much of Their Income Toward Housing, Study Reveals
See how Gen Z can save on housing costs.
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You Can Use a HELOC to Pay Off Your Mortgage — but You Probably Shouldn’t, Experts Say. This Is Why
Want to pay off your mortgage early? A home equity line of credit is one way to do it. Here’s what you need to know before jumping in.
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Unlocking Home Affordability: Expert Tips from UMB Bank's Matthew Locke
Matthew highlights factors like income, DTI ratio, and credit score. He explains, "Interest rates and loan terms impact costs," and stresses prequalification for realistic budgets. To boost affordability, he advises improving credit, reducing debt, and saving for a larger down payment. Locke emphasizes creating a budget and exploring mortgage options for better financial planning. -
Understanding Mortgage Rates: Key Influences and Variations
Matthew notes that lenders' profit margins, lending channels, and costs impact rates. He explains, "MBS’s help establish the value of what the mortgage loan can be sold for." Rates can vary by 0.375 to 0.500 across lenders. Trust and a lender's successful history are crucial for borrowers. -
Unexpected Home Buying Barriers: Expert Insights from UMB Bank
Matthew highlights unexpected barriers like rising insurance costs, co-signing loans, and location pitfalls. He advises early insurance quotes and choosing better areas over larger homes. If barriers derail the process, "it may be best to pause and reconnect with your home buying team." Starting a relationship with your bank can help minimize surprises and ensure a smoother journey.
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Right now, those disadvantages are really strong, because typically home equity loans are variable interest rates. We’re in an environment where interest rates are rapidly increasing.
