Is a Newly Built Home the Right Choice for You? Weighing the Pros and Cons.

If you’re in the market for a home, don’t overlook the possibility of buying new construction. With an increase in newly built homes available, you have more choices than usual—and that comes with some pretty compelling advantages.

Before making your decision, it’s important to weigh both the benefits and potential drawbacks of a brand-new home. Here’s a breakdown of what to consider as you explore whether a newly built home aligns with your needs and lifestyle.

The Advantages of Buying a Newly Built Home

Personalization at Your Fingertips

One of the biggest draws of new construction is the ability to customize. Many builders offer options for layouts, finishes, and upgrades, giving you the opportunity to shape your home to match your style. While some customization is easier if the home is still under construction, even completed homes may have room for minor tweaks depending on the builder’s flexibility.

Minimal Maintenance and Repairs

Modern homes are designed with energy efficiency in mind, thanks to updated building codes and advancements in technology. Many new builds feature high-efficiency HVAC systems, smart thermostats, and other eco-friendly elements that help lower energy bills. Over time, those savings can add up—especially when energy costs are on the rise.

Built for Efficiency

Builder Incentives and Financial Perks

“Some builders offer financial incentives, including flexible financing options, to encourage buyers to purchase. These incentives — especially if they get the buyer a lower interest rate — could make a new-construction home more affordable in the long run.“

Things to Consider Before Buying a New Build

Construction Timelines Can Vary

If you’re purchasing a home that’s still under construction, patience may be required. Build timelines can stretch over several months, meaning move-in dates aren’t always predictable. As Realtor.com points out:

“For homebuyers who have a short time frame to move into a new home, buying new construction could be challenging if the house isn’t built yet. This is not always the case, since a community may have some quick move-in homes or spec homes that are already complete (or nearly so) and ready for a buyer to move in. But if not, a buyer may have to wait.”

If your move-in timeline is tight, it’s worth checking if there are any quick-delivery homes available in your desired community.

Budgeting for the Unexpected

While new builds can seem like a fixed-cost purchase, additional expenses can add up quickly. Customization options, unexpected delays, and fluctuating material costs—such as lumber prices—can all impact the final price. HousingWire explains:

“Upgrades and add-ons, unforeseen delays due to weather, supply chain issues or labor shortages, and expenses like landscaping and fencing not included in the builder’s cost can significantly affect the final price.”

Sticking to a budget is key when personalizing a new home. It’s easy to get carried away with upgrades, so knowing your limits from the start can help keep costs in check.

The Bottom Line

Buying a newly built home offers exciting opportunities, but it’s essential to go in with a full understanding of the pros and cons. If you’re considering a new build, having a knowledgeable professional by your side can make all the difference in navigating the process.

Thinking about going the new-construction route? Let’s talk about your options and find a home that fits your vision and budget!

Spring Market 2025: More Homes, More Opportunity—But Will Buyers Jump In?

Spring is bringing a fresh wave of home listings—finally! If you’ve been searching for the right home, this season could be your best chance yet. But what about affordability? With mortgage rates still hovering higher than expected, many buyers are wondering—should I jump in now or keep waiting?

Let’s take a look at what’s happening in the market and how you can get ahead this spring.

More Homes Hitting the Market—Finally!

One of the biggest challenges in recent years has been low inventory, with homeowners hesitant to sell due to high mortgage rates. But this spring, we’re seeing a shift. According to Realtor.com’s February 2025 Housing Report, in February alone:

✅ The number of homes for sale grew by 27.5% compared to last year.
✅ Total inventory (including homes under contract) jumped 18.2% year over year.
✅ New listings increased 4.2%, meaning more sellers are testing the market.

While inventory is still below pre-pandemic levels, this steady growth signals that sellers are getting off the sidelines. More homes on the market means more opportunities for buyers to find the right fit.

Affordability Remains a Challenge—But There’s Hope

Mortgage rates are still higher than many hoped, hovering around 7%. But with home prices adjusting and sellers offering more flexibility, there are still ways to make homeownership work—especially with the right strategy.

According to TheStreet’s latest market forecast, the median home price dipped 0.8% year over year, and more sellers are reducing prices to attract buyers. In fact, 16.8% of homes had price reductions last month, up from 14.6% a year ago.

For buyers, this means two things:

• More negotiating power – With inventory up and price reductions increasing, buyers can negotiate better deals.
• A potential window of opportunity – If rates start to ease later in the year, today’s buyers could benefit from refinancing into a lower rate down the line.

Should You Buy Now or Wait?

The big question: is now the right time to buy, or should you keep waiting? Here’s what to consider:

If you’re ready to buy – More inventory, price reductions, and motivated sellers make this spring a strong time to house hunt. Just be sure to get pre-approved so you’re ready to act when you find the right home.

If you’re waiting for lower rates – Rates could drop slightly later in 2025, but drastic cuts aren’t guaranteed. If you find a home that fits your budget now, you can always refinance if rates improve.

Final Thoughts: How to Stay Ahead This Spring

With more homes on the market but affordability still a challenge, working with the right mortgage partner is key. At Luminate Bank, we help buyers navigate the market confidently—whether it’s finding the best loan options, understanding rate trends, or making a smart move in today’s evolving housing landscape.

📩 Ready to explore your options? Let’s chat about how you can navigate the market and secure a home that fits your budget.

How To Buy a Home Without Waiting for Lower Rates

You’re not alone if you’re hoping mortgage rates will drop before buying a home. But will they? According to expert forecasts, rates are expected to decline—but not as much as many buyers were hoping for.

The good news? Even if rates don’t drop significantly, you still have options to make homeownership more affordable.

How Much Will Rates Drop?

A few months ago, experts predicted mortgage rates could dip below 6% by the end of the year. But recent projections from Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo suggest rates will likely settle between 6.5% and 7% instead (see below).

If you’ve been waiting for a dramatic drop before making a move, you may be waiting a while. And if life changes—like a new job, a growing family, or a major move—are pushing you toward homeownership now, waiting might not be an option.

Smart Financing Strategies for Today’s Market

Since rates may not dip as much as expected, it’s worth considering alternative financing options to make homeownership more affordable now. Here are three strategies you could explore with Luminate Bank:

1. Mortgage Buydowns

A mortgage buydown lets you pay upfront to lower your interest rate for a set period, helping reduce your monthly payment early on. In fact, 27% of real estate agents say first-time homebuyers are increasingly negotiating buydowns with sellers to make purchasing more affordable.

2. Adjustable-Rate Mortgages (ARMs)

ARMs typically start with a lower rate than a traditional 30-year fixed mortgage, making them an attractive option—especially if you plan to refinance later when rates drop.
And if you’re wary because of the 2008 housing crash, rest assured: today’s ARMs are different. Back then, lenders approved buyers based on the initial low rate, sometimes without verifying income (remember those risky “Ninja loans”?). Now, lenders ensure borrowers qualify based on the highest possible payment, reducing the risks associated with ARMs.

3. Assumable Mortgages

An assumable mortgage allows you to take over the seller’s existing loan—including their lower mortgage rate. With over 11 million homes qualifying for this option, according to U.S. News, this could be a game-changer if you’re looking for a more affordable rate.

The Bottom Line

Waiting for mortgage rates to drop significantly may not be the best strategy. Instead, options like buydowns, ARMs, and assumable mortgages can help you buy a home now—without waiting on the market.

Want to explore the best financing strategy for your situation? Connect with us today to find the right fit for you.

Higher Mortgage Rates Are the New Normal—Here’s What That Means for Homebuyers in 2025

For years, homebuyers have been hoping for a return to the ultra-low mortgage rates seen during the pandemic. But as we move through 2025, it’s becoming increasingly clear that today’s rates—hovering between 6% and 8%—aren’t going anywhere.

While the Federal Reserve made multiple rate cuts in late 2024, mortgage rates barely moved. With only a couple more reductions expected this year, many experts believe buyers will need to adjust their expectations.

This shift raises some important questions: How can homebuyers navigate today’s market? Will affordability improve? And what role will the new presidential administration play in shaping the housing industry?

Let’s take a closer look at what’s happening in the mortgage world and what it means for you.

Why Mortgage Rates Are Likely to Stay Where They Are

Many people assume mortgage rates should drop whenever the Federal Reserve cuts interest rates. In reality, mortgage rates are influenced by a variety of factors, including inflation, investor confidence, and economic policy. That’s why, even after multiple rate cuts last year, the 30-year mortgage rate has remained close to 7%.

Historically, this isn’t unusual. Except for a few extreme periods—such as the early 1980s, when rates soared above 18%, and the COVID years, when they fell below 3%—mortgage rates have typically ranged between 6% and 8%.

Jim Nabors, president of the National Association of Mortgage Brokers (NAMB), says that many buyers are beginning to accept this reality.

“If you’re waiting for rates to drop back to 3% or 4%, that’s just not realistic,” Nabors said. “People are starting to shift their expectations and focus on what they can afford today.”

Navigating Affordability in Today’s Market

There’s no denying that affordability is a major challenge right now. Home prices remain high, interest rates have doubled since 2021, and many households are feeling financial pressure from rising costs in other areas. The combination of these factors has made buying a home feel out of reach for many.

However, incomes have also risen over the past several years. In many areas, entry-level wages are significantly higher than they were before the pandemic. This has helped offset some of the impact of rising home prices, but affordability still varies widely depending on where you live.

For example, a home that costs $400,000 in the Midwest might be valued at $3 million in parts of California. Regional differences play a huge role in what’s possible for buyers, and understanding your specific market is key to making informed decisions.

The most important factor to consider is not just the interest rate but the overall monthly payment and whether it fits within your budget. Many buyers who have been hesitant to enter the market are now sitting down with lenders, running the numbers, and realizing that homeownership is still possible with the right approach.

💡 Remember: Buy Now, Refi Later

If current rates are holding you back, keep in mind that you’re not locked in forever. At Luminate, we continuously monitor the market and will reach out when a refinance could help you save. Whether it’s a rate drop or an opportunity to consolidate debt and lower monthly payments, we’re here to ensure you’re always in the best possible financial position.

And while you’re optimizing your home financing, don’t forget to put your savings and checking accounts to work for you. Many homeowners overlook the power of high-yield savings accounts and interest-bearing checking options—these small financial tweaks can add up over time and complement your long-term financial goals.

How the 2025 Political Landscape May Impact Housing

Some economists believe that potential tax cuts could improve affordability by increasing take-home pay. Others point to ongoing concerns about tariffs and trade policies, which could impact everything from construction costs to the broader economy.

Regardless of political changes, history shows that the housing market operates on its own cycle, influenced by supply and demand, economic conditions, and consumer confidence. While some buyers are waiting for policy changes to impact the market, most are realizing that the biggest factor in their homebuying decision is their own financial readiness.

Key Mortgage Industry Issues to Watch in 2025

Beyond interest rates and political changes, there are several industry challenges that could impact homebuyers this year:

• Trigger Leads Reform – Currently, when a borrower applies for a mortgage, credit bureaus can sell their information to multiple lenders, leading to a flood of unsolicited calls. A push to ban this practice recently stalled in Congress, but many in the industry continue to advocate for change.
• Mortgage Insurance Premiums (MIP) – Borrowers with FHA loans are required to pay mortgage insurance for the life of the loan, whereas conventional loans allow mortgage insurance to be removed once the borrower has 20% equity. Mortgage professionals are urging policymakers to reform FHA loan requirements, which could help homeowners save thousands over time.
• Homeowners Insurance Costs – In some areas, the cost of homeowners insurance is rising so quickly that it’s becoming as significant as a mortgage payment. States prone to wildfires, hurricanes, and other disasters are particularly affected. Discussions are ongoing about how to keep these costs from pricing buyers out of homeownership.

Is Homeownership Still a Smart Investment?

For many people, the biggest question is whether buying a home still makes financial sense in today’s market. While the answer depends on personal circumstances, homeownership continues to be one of the most effective ways to build long-term wealth.

Even with higher rates, buying a home allows you to:

• Lock in a fixed housing payment instead of dealing with rising rents
• Build equity over time instead of paying a landlord
• Benefit from potential home appreciation in the long run

At Luminate, we believe that homeownership should be accessible, even in a tough market. That’s why we take a personalized approach, helping buyers find options that fit their financial situation.

Final Thoughts: Should You Wait or Buy Now?

If you’ve been waiting for mortgage rates to drop, it’s important to reconsider that strategy. Rates aren’t expected to fall dramatically anytime soon, and in the meantime, home prices may continue to rise.

The key to buying in today’s market is focusing on what you can control—your budget, your financing options, and the right loan program for your situation.

And remember, home financing isn’t a one-and-done deal. Buying now means securing your home and beginning to build equity—and when rates drop, we’ll be here to help you refinance and save. Plus, we’ll always look for ways to optimize your financial picture, from home loan options to making sure your banking accounts are working as hard as you are.

If you’re thinking about buying a home, we’re here to help. Whether you want to run the numbers, explore down payment assistance, or see what’s possible in your area, we’ll help you navigate the process with confidence.

Let’s talk about your homeownership goals.

New Year, New Home: How to Make It Happen in 2025

The new year is here, and it’s the perfect time to set your goals for 2025. If one of your dreams includes finding a new home, you’re in the right place. But where do you start? Don’t worry—we’ve got you covered. At The Oddo Group, we’re here to help you turn that vision into reality with a game plan that’s both simple and effective.

Focus on Your Why

When you share your “why” with your mortgage expert, they’ll align their expertise with your goals. Whether the market is hot or not, a great agent will help you navigate challenges, stay on track, and turn your dream into a done deal.

Get Clear on What You Need

Before you dive into open houses or start scrolling through listings, take a close look at your finances. Ask yourself:

• How much have you saved for a down payment?
• What monthly payment feels comfortable for you?

It’s also important to partner with the right pros—like a trusted lender and real estate agent. Together, they can help you:

• Plan for your down payment (and explore any assistance programs available).
• Understand how much equity you have in your current home if you’re selling.
• Get pre-approved for a mortgage, so you know exactly how much you can borrow.

Being clear on your numbers from the start makes everything easier—and less stressful.

Know Your Numbers

Next, it’s time to dream a little—and get practical. What does your new home absolutely need? Think about things like:

• How many bedrooms you’ll need
• If a home office is a must-have
• Whether you want a big fenced-in backyard for pets or kids

Having a clear list of your must-haves (and nice-to-haves) will make your search a whole lot smoother. If your budget is tight, flexibility might be key. Maybe you can expand your search area or compromise on one feature if another must-have is met. Share your wishlist with your agent—they’ll help you prioritize and focus on homes that check the right boxes.

Lean on a Pro to Guide You

Buying or selling a home is a big deal, but you don’t have to do it alone. A great real estate agent knows the market, has the answers to your questions, and will guide you through the entire process. As Bankrate puts it:

“. . . now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

And hey, you’ve got us in your corner too! We’re here to ensure you feel confident and prepared every step of the way.

Conclusion

If buying or selling a home is on your list of goals for 2025, let’s make it happen! Focus on your why, get clear on your needs, and team up with the right pros (hint: that’s us!). This could be the year you check “new home” off your to-do list—and we’re here to cheer you on and light the way.

Ready to start? Let’s connect and make 2025 your brightest year yet!

The Top 2 Reasons to Look at Newly Built Homes

When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line.

Here’s why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget.

1. More Newly Built Homes Are Available Right Now

Right now, the number of existing homes for sale is still low. And, if you’re struggling to find something you like because there aren’t that many existing homes for sale, opening up your search to include brand-new homes could really expand your options. That’s because there are more newly built homes available right now than in a typical year (see graph below):

“Even though existing home sales have been stuck at low levels, newly constructed home sales look to mark one of its best annual performance in 15 years . . . The new home inventory has been consistently rising with homebuilders getting active and making up around 1/3 of total inventory.”

While the uptick in new home construction is encouraging, rest assured that builders aren’t overdoing it, they’re just making up for over a decade of underbuilding. There are still way more buyers than there are homes on the market. But the good news for you is this increase in newly built homes means more options for your search.

2. Newly Built Homes Are Becoming Less Expensive

Why is that? Builders know affordability is top of mind for homebuyers right now. So they’re focusing their efforts on building smaller homes they can offer at lower price points and are more likely to sell. As Realtor.com says:

“Builders are increasingly bringing smaller, more affordable homes to the market, so buyers may find more newly-built homes that fit their budget.”

Something to keep in mind: buying a newly built home isn’t the same as buying an existing one. Builder contracts have different fine print. So be sure to partner with a local agent who knows the market, builder reputations, and what to look for in those contracts.

Bottom Line

Depending on your needs and budget, a new build might be the opportunity you’ve been waiting for to bring your homebuying vision to life. If you’re interested in a brand-new home, let’s connect so you can check out what builders in your area are up to.

8 Key Questions About Second Mortgages: Is Debt Consolidation Right for You?

Managing multiple debts can be overwhelming, and for the average American, that debt is doing nothing but rising. On average, a typical person in the United States has approximately $104,215 in debt across mortgages, auto loans, student loans, and credit cards, with mortgage being the highest.

Luckily, there is an option that homeowners can consider when it comes to managing their debt – consolidating your debts through a second mortgage. But what exactly is a second mortgage, and how can it help you? We’ll answer some of the most common questions we get about second mortgages, and how this financial tool can simplify your debt.

What is a Second Mortgage?

Your home serves as collateral, securing the loan just like your original mortgage. This means if you fail to make payments, the lender could potentially foreclose on your home, just as with the first mortgage.

How Does a Second Mortgage Work?

You then make monthly payments on this loan, just like with your first mortgage, but typically at a different interest rate and term. The terms and the amount you borrow are based on several factors including the amount of equity you have in your home and your ability to pay back the loan.

Are Second Mortgage Rates Higher?

For example, if you were to default on your payments, the first mortgage gets paid off from any foreclosure proceeds before the second mortgage, making the second mortgage a riskier bet for us lenders. As a result, most lenders will charge higher interest rates to mitigate this risk.

How Much Second Mortgage Can a Person Afford?

Generally, lenders allow you to borrow up to 80-90% of the total equity in your home. However, it’s crucial to borrow only what you need and can comfortably afford to pay back, considering the higher interest rates and the risk of putting your home as collateral.

What Happens to a Second Mortgage When the First is Paid Off?

However, paying off your first mortgage might free up more of your budget to pay down the second mortgage more quickly. This could potentially save you money on interest and shorten the life of your loan.

Who Qualifies for a Second Mortgage?

Additionally, we’ll will look at your debt-to-income ratio to ensure you can manage your new loan payments on top of any existing debts. These factors help us determine your ability to repay the loan without falling into financial hardship.

Will a Second Mortgage Hurt My Credit?

Keep in mind that adding a significant amount of new debt with a second mortgage could strain your finances and potentially lead to credit issues if not managed properly. It’s important to consider your overall financial situation before taking on additional debt.

How to Get a Second Mortgage?

Once you’re ready, get in touch with us at The Oddo Group so we can help you find the best rate and terms. We also suggest you consult with your financial advisor to ensure that a second mortgage makes sense for your financial goals and situation.

Once you’re ready, get in touch with us so we can help you find the best rate and terms. We also suggest you consult with your financial advisor to ensure that a second mortgage makes sense for your financial goals and situation.

Conclusion

A second mortgage can be a valuable tool for consolidating debt, simplifying your monthly payments, and potentially saving on interest. However, it’s important to consider all the factors, costs, and risks involved.

If you’re considering a second mortgage and need advice, contact us. We’re here to help guide you through the process and determine if this is the right financial step for you.

Once you’re ready, get in touch with us so we can help you find the best rate and terms. We also suggest you consult with your financial advisor to ensure that a second mortgage makes sense for your financial goals and situation.

Get Your House Ready to Sell in 2025: A Guide for Homeowners

So, you’ve decided that 2025 is the year to sell your home. Maybe you’re dreaming of upsizing to fit a growing family, downsizing to cut down on cleaning, or simply heading somewhere new for a fresh start. Whatever your reason, getting your house ready to sell is no small task. But don’t worry—you’ve got this, and we’re here to guide you every step of the way.

Selling your home isn’t just about putting up a “For Sale” sign; it’s about creating a space that buyers can’t resist. Let’s dive into what it takes to make your house shine in 2025!

Step 1: Declutter and Depersonalize

First impressions matter, and nothing says “buy me” like a clean, spacious home. Your goal is to help buyers imagine their lives unfolding in your space.

Clear the clutter: It’s time to channel your inner Marie Kondo. Donate, sell, or toss items that no longer spark joy (or serve a purpose).

Go neutral: Tuck away family photos, kids’ artwork, and personal treasures. This helps potential buyers see a blank canvas for their own memories.

Organize like a pro: Invest in storage bins or baskets to keep everything looking tidy. Buyers will peek into closets—make sure they like what they see!

Step 2: Make Repairs and Upgrades

A little sprucing up can go a long way. Buyers love homes that look move-in ready.

Fix the small stuff: Leaky faucets, squeaky doors, and chipped paint might seem minor, but they can be red flags for buyers.
Consider upgrades: If your budget allows, focus on high-impact areas like the kitchen or bathrooms. Adding a fresh coat of paint or swapping out dated fixtures can instantly modernize your space.

Check the bones: Hire a professional to inspect major systems like plumbing, HVAC, and the roof. A clean inspection report is a big plus for buyers.

Step 3: Boost Your Curb Appeal

Your home’s exterior is the first thing buyers will see—make it count!

• Landscaping 101: Trim the lawn, plant fresh flowers, and add mulch for a polished look. A little greenery can make your home pop.
• Clean it up: Power wash the siding, scrub the windows, and repaint the front door if it’s looking tired.
• Light it up: Outdoor lighting not only makes your home more inviting but also highlights its best features during evening showings.

Step 4: Stage Like a Pro

Staging isn’t just for HGTV—it’s a powerful tool for helping buyers fall in love with your home.

• Arrange for flow: Move furniture to create a sense of spaciousness. If you have too much, consider renting a storage unit.
• Add cozy touches: Think soft throw pillows, fresh flowers, or candles. You want your home to feel inviting but not overly personalized.
• Outdoor vibes: Don’t forget to stage your patio or deck. Buyers will picture themselves hosting summer barbecues or sipping coffee outdoors.

Step 5: Call in the Experts

Selling a home can feel overwhelming, but you don’t have to do it alone.

• Work with a real estate agent: A good agent knows your local market and can help you price your home competitively.
• Hire a stager: Professional stagers know exactly how to make your home irresistible to buyers.
• Get an inspection: A pre-sale home inspection can help you address potential deal-breakers before they scare off buyers.

As we head into 2025, the housing market continues to shift. Inventory is expected to remain tight, making well-prepped homes even more appealing. Buyers are prioritizing energy-efficient upgrades, so consider small touches like smart thermostats or LED lighting.

Final Thoughts

Selling your home doesn’t have to be stressful—it can even be fun! Think of it as an opportunity to breathe new life into your space while preparing for your next adventure. Get your house ready to sell by following these steps. You’ll be ready to attract buyers and score a great sale price in 2025.

So roll up your sleeves, get to work, and remember: you’re not just selling a house—you’re passing on a place where memories are made. Good luck, and happy selling!

What You Need to Know About the 2025 Conforming Loan Limits

The Federal Housing Finance Agency (FHFA) has announced the new conforming loan limits for 2025, and it’s great news for anyone looking to finance their dream home with a conventional loan. These updates reflect the growing housing market and ensure more opportunities for you to access competitive loan options. Let’s break down what this means and how it can benefit you.

What Are Conforming Loan Limits?​

Conforming loan limits are the maximum loan amounts eligible for purchase by Fannie Mae and Freddie Mac. These limits vary based on the number of units in a property and whether the home is located in a high-cost area. Essentially, they determine the size of the loan that qualifies for conventional financing.

The 2025 Loan Limits at a Glance

For 2025, the baseline loan limits have increased, making it easier for you to borrow more under conventional loan terms. Here are the new limits:

Why This Matters to You

With these higher limits, you may be able to:

• Purchase a larger home or one in a more competitive market without needing a jumbo loan.
• Refinance a high-cost mortgage into a conforming loan with potentially better terms.
• Take advantage of lower down payment options available with conventional loans.

These loan limits are effective for loans delivered to Fannie Mae starting January 1, 2025. Loans originated before this date may still qualify, provided they meet the 2025 limits upon delivery, so check with your lender to help you with the details.

How To Take Advantage

Navigating loan limits can be confusing, but that’s where we come in. At the Oddo Group, we’re here to help you understand your options and guide you toward the best financing for your situation.

Whether you’re buying your first home, upgrading to a bigger property, or refinancing, these increased limits could be a game-changer for your financial goals.

Have questions? Reach out to us today to learn how these new limits can work for you!

Stay One Step Ahead: Home Buyer Cybersecurity Tips

Let’s face it—getting a mortgage these days is mostly an online process. From filling out applications to signing documents, technology makes it easier and faster to buy your dream home. But with all that convenience, it’s important to make sure your personal information stays safe.
At Luminate Home Loans, we’re serious about protecting your data, but we know security works best when we’re in this together. Let’s walk through what cybersecurity means for you, what threats to watch out for, and how you can stay a step ahead of the scammers.

What Cybersecurity Means for You

Cybersecurity is all about keeping your sensitive information safe—things like your Social Security number, bank account details, and even your email address. When you’re working with a lender, you’ll share a lot of personal information, so it’s crucial to know it’s being handled securely.

At the Oddo Group, we’re on top of it. We use secure systems, monitor for threats, and train our team to keep your data protected. But security isn’t just up to us. You play a big part in keeping your information safe too.

Cyberattacks in the Mortgage Industry: Why It Matters

Unfortunately, cybercriminals are getting smarter, and they’ve started targeting the mortgage industry. Recently, there have been some big-name attacks—like the one on loanDepot earlier this year or the one that happened just this week at AnnieMac.

These situations are rare, but they show why staying vigilant is so important. We all need to work together to stay ahead of cybercriminals.

How You Can Stay One Step Ahead

Here are some simple steps you can take to protect yourself during the mortgage process:

1. Verify Before You Act

If you get an email, text, or call asking for personal info or money, don’t rush. Reach out to your loan officer or lender directly using their official contact info.

2. Stick to Secure Networks

When you log in to your mortgage account or send sensitive information, make sure you’re on a secure, password-protected Wi-Fi network. Public Wi-Fi is a no-go.

3. Turn On Two-Factor Authentication (2FA)

Adding a second layer of security—like a code sent to your phone—makes it much harder for hackers to break into your accounts.

4. Keep an Eye on Your Accounts

Regularly check your bank and credit accounts for suspicious activity. If something looks off, report it immediately.

5. Slow Down Scammers

If an email or text feels rushed or pushes you to act quickly, it could be a scam. Take a breath, double-check, and don’t let anyone pressure you.

6. Strengthen Your Passwords

Avoid easy passwords like “password123” or your birthday. Go for a mix of letters, numbers, and symbols that’s unique for each account.

Watch Out for These Common Scams

Knowing what to look for can make all the difference. Here are some of the most common tricks scammers use:

• Phishing Emails and Texts: These fake messages look like they’re from your lender, but they’re really trying to steal your personal info.
• Wire Fraud: Scammers might pretend to be your title company or lender and ask you to send money to the wrong account.
• Data Breaches: If your online accounts aren’t secure, hackers could get their hands on your sensitive information.

How We Protect You

At the Oddo Group, we take your security seriously. From secure technology to constant monitoring, we’re working hard behind the scenes to keep your data safe. We also train our team to recognize risks and act quickly to stop them. Our goal is to give you peace of mind, so you can focus on what matters most—buying your home.

But here’s the thing: cybersecurity is a team effort. By following a few of the tips from this blog, you can help us make sure your information stays safe throughout the process. Together, we can make your home-buying journey smooth, secure, and stress-free.

Have questions about cybersecurity or the mortgage process? We’re here to help. Contact us today to get started on your secure journey to homeownership!