We Do
Mortgages.

Get approved for your home loan by a loan officer near you.

We Are Local.

UMortgage LOs have a focus on serving their local communities while also having a nationwide reach that's rapidly growing.

Our Loan Officers

You've Got Q's, We've Got A's.

Market Update

Housing Market Update | Week of April 21st

The 10-year yield finally stabilized last week after back-to-back volatile weeks. The biggest piece of news driving rates last week was a speech given by Fed Chairman Jerome Powell at the Economic Club of Chicago on Wednesday. Powell reinforced that the Fed would need to analyze the true impact of tariffs on inflation and the growing threat of a job-loss recession before opting to cut mortgage rates. The bond market reacted positively to his speech, dropping to 4.2% on Wednesday before bouncing back slightly before the 3-day weekend. This week has more speeches from Fed Presidents scattered between Tuesday and Thursday. Expect to see the bond market react each day depending on what’s said. Last Week's Mortgage Rate Recap Rates Were Relatively Stable Relative to previous weeks, mortgage rates were stable last week thanks to some much-needed stability in the bond market. We saw the bond market drop slightly after Powell’s speech on Wednesday before it returned to the previous level on Thursday ahead of a 3-day weekend for the markets in observance of the Easter holiday. Perhaps the biggest headline was an attack directed at Powell by President Trump, whose administration is reportedly exploring whether it can fire Powell. Powell was appointed by Trump in 2017. Powell’s term is set to end in May 2026. This Week's Mortgage Rate Forecast Rates Could be Volatile This week will feature more speeches from Fed Presidents between Tuesday and Thursday. Given President Trump’s ongoing feud with the Federal Reserve and increased pressure to cut rates, these speeches and what’s said by these Fed Presidents will likely gain a lot of media attention and drive market activity every day. In terms of hard data, we’ll get the March New Home Sales report on Wednesday and consumer sentiment data on Friday. Despite a slight increase in rates, purchase application data remains positive. Year-over-year, purchase applications are up 13%. If rates can drop closer to 6%, expect to see a significant uptick in housing market activity. As always, the market can change drastically every single day. In periods of volatility, it’s more important than ever to make sure you and your Loan Originator partners are aligned to continue to help your buyers make informed decisions and maximize the wealth-building benefits of homeownership. As the week progresses, make sure to stay in touch with your UMortgage Loan Originator for updates throughout the week as things develop.

Published April 21, 2025

Purchase

How to Seamlessly Sell Your Current Home and Buy Your Next One

As a homeowner, you've already taken one of the biggest and smartest steps toward building long-term wealth. But what happens when your current home no longer fits your needs? It’s more common than you’d think. In 2024, 76% of homebuyers were already homeowners. When you’ve put together the savings for a down payment and built equity by paying your mortgage every month, buying your next home becomes a lot easier. But even for experienced homeowners, the process of selling and buying at the same time can feel overwhelming. Whether you're upsizing, downsizing, or relocating, this guide will walk you through what actually happens when you sell your home to buy another one—plus the financing solutions that can help you use your existing equity without creating extra financial stress. What Happens to Your Current Mortgage When You Sell Your Home? If your mortgage is paid off by the time you list your home, you get to pocket the profit from the sale after closing costs, repairs, and any buyer contingencies are accounted for. If you still owe a balance on your mortgage, the proceeds from the sale will first go toward paying off your remaining loan. This happens during the closing process, and any remaining profit—also known as your equity—comes back to you. For example, if your home sells for $400,000 and your remaining mortgage balance is $250,000, you’ll walk away with the difference (minus closing costs and agent commissions). That’s nearly $150,000 in potential funds to use toward your next home purchase. If your home sells for less than what you owe (rare in today’s equity-rich market), you may need to bring money to the closing table or work with your lender on a solution. Your UMortgage Loan Originator can walk you through all scenarios so you’re never caught off guard. How to Use Your Current Equity to Move Up into Your Next Home Equity is your secret weapon when it comes to moving into your next home. It's why repeat buyers in 2024 put down a median of 23%—the highest in over two decades. When it’s time to make your next move, the equity in your current home can be used to: Make a down payment on your new home Cover closing costs (on both transactions) Reduce the size of your new mortgage This is especially helpful if you’re moving into a more expensive home. When you have access to funds upfront, you can avoid mortgage insurance, reduce your monthly payments, and potentially secure better loan terms. The key is timing. To unlock your equity, you usually need to sell your current home first or explore financing options that allow you to tap into that equity before the sale closes, which we'll cover next. Programs That Help Existing Homeowners Buy Their Next Home Selling and buying at the same time can feel like a juggling act. Luckily, UMortgage offers several solutions that can make it easier—especially if you want to buy before you sell. HELOC (Home Equity Line of Credit) A HELOC lets you borrow against your home’s equity while you still own it. Think of it like a credit card with a revolving line of credit. You can use the funds as a down payment on your new home, and then pay off the HELOC once your current home sells. This is a great option for homeowners with significant equity who plan to sell shortly after purchasing their new home. Bridge Loan A bridge loan is a short-term loan that “bridges” the gap between buying your new home and selling your current one. It typically uses your existing home as collateral and comes with terms between 6 months and 3 years. Bridge loans are typically used in one of two ways: To make a down payment on your new home: Great if you can’t afford two mortgages at once. To pay off your current mortgage and cover your next down payment: Best for homeowners with a relatively low mortgage balance. Because they come with higher interest rates than traditional mortgages, bridge loans work best for buyers with strong credit and a solid plan to sell quickly. If your home takes longer to sell than expected, you could end up managing two (or more) monthly payments. Home Sale Contingency A home sale contingency allows you to make an offer on a new home that’s dependent on your current home selling first. It protects you financially in case your existing home doesn’t sell in time. Just keep in mind that in a competitive market, sellers may favor buyers without contingencies. Your UMortgage Loan Originator can help you weigh the pros and cons. What to Consider Before You Sell Selling your home to buy a new one is one of the greatest wealth-building benefits of homeownership. But with so many moving parts, it’s important to plan ahead. Here’s where to start: Evaluate Your Equity & Finances Start by estimating how much equity you’ve built. Subtract your remaining mortgage balance from your home’s current value. Not sure what your home is worth today? Your UMortgage Loan Originator can provide a free home value assessment. Next, look at your full financial picture. Review your income, debts, and monthly expenses to determine what kind of mortgage you’ll qualify for on your next home. A mortgage pre-approval can give you clarity and a competitive edge. Set Your Timeline Try to align your sale and purchase timelines to minimize the gap between closings. This helps you avoid the hassle of temporary housing or paying two mortgages at once. A coordinated closing—where you sell and buy on the same day—is possible with the right planning and support team. Prep Your Home for Sale Making your home market-ready is one of the best ways to boost your sale price. Small upgrades like fresh paint, curb appeal improvements, and professional staging can make a big difference. Consider a pre-listing inspection to catch any potential deal-breaking issues early. While it might add to your upfront costs, it can save you time and stress once offers start rolling in. Moving Up Requires the Right Team Moving from one home to another is a big life event—but it’s also a major financial opportunity. The equity you’ve built can be a powerful stepping stone toward your next goal, whether it’s a bigger space, a better location, or a smarter investment. The key is having a plan and the right people in your corner. If you're ready to explore your options and discover what will help you maximize the wealth-building benefits of homeownership, get in touch with your UMortgage Loan Originator. They'll help you run the numbers, set a timeline, and create a plan that fits your needs so you can move up with confidence.

Published April 8, 2025

News, Mortgage

The CFPB’s Role in the Homebuying Process

Mortgage, News

How Tariffs Could Affect Mortgage Rates & Housing Affordability

Loan Types

USDA Expands Financing for Manufactured Homes: What You Need to Know

Mortgage

How to Deduct Mortgage Interest from Your Yearly Taxes

View All Blogs

Mortgage Planning Made Easy.

Our easy-to-use calculators help you estimate and optimize your mortgage solutions.

Find your monthly payment.

What does a monthly mortgage payment look like for you? Get an estimate with some basic information.

Estimated Monthly Payment

$0 /mo

See Payment Breakdown Apply Now

The UMortgage mortgage calculators are for estimation purposes only. This is not a commitment to lend. For an exact quote based on your individual financial circumstances, please contact us.

Experience is
Everything.

If an industry leading 95 Net Promoter Score isn't enough, take it from borrowers that have worked with us.

Find a Local Loan Originator

Kristy Lynn

David is absolutely wonderful! He made this entire process in getting a VA Loan as simple as it could have possibly been for my first mortgage! I have and will continue to recommend him to every Veteran I know. Thank you for everything, David.

Jodi Granger

Vinnie was recommended to me and I'm so thrilled I got to work with him. He led me every step of the way going above and beyond. He answered every question I had and always responded quickly regardless of the time. If I ever buy again he is my number 1 go to. I couldn't have done it without him. I own the place of my dreams because of him! Thank you, Vinnie for everything!

Raymond Gummer

I had a difficult mortgage due to county issues etc. Fortunately I also had the best people working for me. You'll never regret a moment having Corey on your side. He's so dedicated to the customer, keeps you up-to-date on everything, and is just one hell of a guy. I have my first home because Corey made it happen, and I couldn't thank him enough. This guy is truly top of his game and I'm blessed to have had him on my team.

Kristy Lynn

Jodi Granger

Raymond Gummer

Susan Lenhardt

I can't say enough good things about Vinnie. If you want someone that contacts you right away and is there for you and your buyers the entire time through the whole process then you have to talk to Vinnie and see for yourself. My buyers are always very pleased with his professionalism and efficiency. He definitely goes the extra mile for them. They appreciate it and so do I.

Dominique Bell

Nicole was an absolute pleasure to work with! From the first conversation we had I knew we were going to be a great team for our buyer. She is thorough and communicates each step throughout the entire process up until closing day and she got my buyer $10k in grants! Thank you Nicole for all your hard work!

Yuritt Pasos

Brian and his team are amazing. From the first time I met Brian, he took the time to explain every step of the process with great patience and knowledge. I can honestly say I never expected for this process to feel so easy but Brian made it possible. I will always be thankful for all the support provided.

Meredith Smith

My family had a fantastic experience with Sunnie! Extremely capable and supportive, she helped us through the whole process with ease and a personal touch. We can't thank her enough! Even years after we closed our home, she still provides us with advice and encouragement. Thank you Sunnie!

Miranda Adams

I went through UMortgage using a VA home loan, and the agents I worked with were amazing! They worked all hours to help us get into a house and we were able to close in under 30 days! Amazing communication from both team members involved, Melly and Andy. They really made the difference in us being able to buy our first home. Huge thank you to the UMortgage team!

Find a Local Loan Originator

Become a
Confident
Buyer.

Get expert mortgage and local real estate market advice all in one. We support your VA loan process every step of the way.

Explore More Resources

Who is UMortgage?

UMortgage is a national mortgage company that connects you with experienced mortgage brokers in your area. UMortgage's local Loan Officers use UMortgage's vast portfolio of lenders and loan products to ensure you get the most affordable mortgage possible that is tailored to your individual financial needs and homeownership goals.

How does a mortgage work?

A mortgage is a loan used to buy a home, with the house serving as collateral until the loan is repaid. You make monthly payments that cover both the loan amount and interest across the life of the loan, which most commonly spans between 15-30 years.

How do I get pre-approved?

Getting pre-approved with UMortgage is easy! You can get connected with a local UMortgage Loan Officer who will do all the heavy lifting for you by filling out some basic information in this form.

How do I find out how much I can spend on a home?

Your UMortgage pre-approval will provide you with an accurate estimate of your buying power to help you shop for homes within your budget. You can use our free affordability calculator for a more general estimate of your budget.

What are the benefits of working with a UMortgage Loan Officer?

UMortgage's Loan Officers help you access the most affordable mortgage by shopping for the lowest rate on your behalf and offering a mortgage specifically tailored to your financial needs. UMortgage prides itself on its exceptional customer experience—exemplified by our industry-best 95 Net Promoter Score—and guides you through the homebuying process & beyond with care.

What types of mortgages does UMortgage offer?

UMortgage offers expert services for all the major mortgage types: Conventional, FHA, VA, USDA, and Jumbo Loans. UMortgage also offers rate & term refinances, cash-out refinances, VA IRRRLs, and FHA Streamlines. Get connected with a UMortgage Loan Officer to learn what type of mortgage will set you up for long-term financial success.

How long does it take to get a mortgage with UMortgage?

Turn times vary from client to client, but UMortgage proudly gets clients from loan application (after you've had an offer accepted on a home) to the closing table in 2 weeks. You can read this blog for more insight into UMortgage's homebuying process.

Get approved in just minutes!

APPLY NOW