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As mortgage rates near 8%, loan originators target first-time homebuyers

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. 

Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage, explained.

“So what I am seeing is that LOs, myself included, who have worked a lot with first-time buyers have details ⇒

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