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Joseph Bartram

Director of Business Development |NMLS 1010778

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Meet Joseph!

My wife and I have been married for over 18 years. We have 2 wonderful children Hunter and Anna along with 2 dogs. I have been in the mortgage industry for over 20 years. I enjoy helping clients build their net worth through homeownership.

Serving Homebuyers In:

  • Arizona
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  • Louisiana
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  • Oklahoma
  • Texas

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Housing Market Update | Week of November 25th

We’ve got an abbreviated week with Thanksgiving this Thursday, but that doesn’t mean the market is taking a holiday. After two weeks of stable rates following the November Fed Meeting, we have a few reports this week that could get things moving again and provide insight into what the Fed might do during its December meeting. In case you missed it, Fannie Mae and Freddie Mac announced some changes to their appraisal waiver guidelines that could end up saving our buyers big in 2025. Check out this blog for more details about these guidelines which expand access to appraisal waivers and how these expanded efforts will give our borrowers more buying power. Last Week's Mortgage Rate Recap Rates Were Steady Mortgage rates remained in a steady range last week without much new data to swing rates in either direction. Over the weekend, we heard from John Williams, New York Fed President; he took a more dovish stance on the economy, indicating that the labor market is balanced and that the deflationary process should continue. We also saw the markets react positively to President-elect Trump’s Treasury Secretary selection, Scott Bessent. This brought mortgage bonds higher and could bring rates down slightly today. This Week's Mortgage Rate Forecast Rates Could Be Volatile While this is a short week for the housing market, there’s no shortage of data that could make rates move. On Wednesday, we will get the PCE inflation index, which is the Fed’s preferred measure of inflation. The market is expecting both headline and core inflation to rise by 0.2% to 2.3% year-over-year growth. More will hinge on next week’s labor data, but anticipated inflation growth has us closer to 50/50 odds of a December rate cut. As I mentioned previously, Fannie Mae and Freddie Mac have expanded appraisal waiver guidelines rolling out at the start of 2025. The updates mean buyers can qualify for waivers with loans up to 90% loan-to-value (LTV), and new inspection-based waivers will push that threshold to 97%. If our borrowers put down as little as 3%, they could save beaucoup bucks. Read this to learn more and share this value with our borrowers.

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New Appraisal Waiver Guidelines Could Save Buyers Thousands in 2025

Buying a home just got a little easier (and more affordable)! Starting in 2025, Fannie Mae and Freddie Mac are expanding their appraisal waiver programs, which allow buyers to skip the traditional appraisal process. The updates mean buyers can qualify for waivers with loans up to 90% loan-to-value (LTV), and new inspection-based waivers will push that threshold to 97%. That means if you’re putting as little as 3% down, you could save time, hassle, and hundreds—if not thousands—of dollars. These programs have already saved buyers billions in fees and the upcoming changes promise even bigger benefits. Whether you’re a first-time buyer or simply looking to save, here’s what you need to know about how these new guidelines can help. What’s an Appraisal Waiver, and Why Should You Care? An appraisal waiver replaces the need for a traditional home appraisal with a high-tech, data-driven valuation. Instead of scheduling an appraiser to inspect the property (and paying hundreds of dollars), the waiver uses public records, historical data, and algorithms to estimate the home’s value. This innovation isn’t just convenient—it’s a big money-saver. Freddie Mac’s ACE (Automated Collateral Evaluation) program has already saved buyers $1.63 billion in fees, and Fannie Mae’s Value Acceptance has topped $2.5 billion in savings. Plus, skipping the appraisal can shave weeks off your closing timeline, which is especially helpful in competitive markets where speed matters. How This Helps Save Homebuyers Thousands Appraisals are, in most cases, an essential part of the homebuying process. By determining the true market value of a home, buyers can be protected from overpaying for a home. However, in highly competitive markets, things like appraisal gaps can cost borrowers thousands of dollars if multiple offers bring the asking price above the appraised value. By expanding the eligibility for waivers, Fannie Mae and Freddie Mac are making it easier—and cheaper—for more buyers to get into their dream homes without having to worry about those potentially costly appraisal gaps. This is a game-changer for first-time buyers or anyone on a tight budget. Not only does it reduce upfront costs, but it also speeds up the timeline to close, helping you secure your new home faster. And with billions of dollars already saved, it’s clear these programs deliver real value. Whether you’re buying your first home or upgrading to your forever home, these expanded waiver options could save you time, money, and stress. What’s New in 2025? Big news: Starting in 2025, the eligibility for appraisal waivers is expanding. Loans with up to 90% LTV will qualify for standard appraisal waivers, up from the previous cap of 80%. Even better, inspection-based waivers—like Freddie Mac’s ACE+ PDR program—will allow loans with up to 97% LTV, so buyers with as little as 3% down can avoid appraisals entirely. Here’s how it works: With an inspection-based waiver, a quick on-site review of the property replaces the traditional appraisal. It’s faster, cheaper, and just as reliable. For buyers, this means fewer hoops to jump through and more money in your pocket to put toward your new home. If you want to use these benefits to expand your homebuying horizons in 2025, get connected with a UMortgage Loan Originator today to start your homebuying journey!

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Your Comprehensive Guide to Home Inspections

Buying a home is one of the most significant investments you can make. Once a homebuyer finds the home they want to submit an offer on, one of the most common questions is whether or not they should get an inspection. Getting an inspection on the home you want to buy has plenty of benefits. Some loan types require them and some don’t. We put together a comprehensive guide to help you make a confident decision regarding your potential inspection when you’re preparing to submit an offer on a home. What is a Home Inspection and How is it Different Than an Appraisal? A home inspection is an objective assessment of a property's overall condition, performed by a licensed professional. During the inspection, key components of the home—including the roof, foundation, electrical systems, plumbing, and HVAC—are thoroughly reviewed to ensure they are functioning properly and free of major issues. The primary goal of this process is to identify potential problems that could require repairs or impact the home's value. Unlike an appraisal, which focuses on determining a property's market value, a home inspection emphasizes safety and structural integrity. This distinction is crucial because it gives buyers a clear understanding of the true condition of the home they’re committing to before finalizing their purchase. While they might seem similar, an inspection is much different than an appraisal. First and foremost, professional appraisals are required for every mortgage type, including refinances. An appraisal evaluates the home's condition, features, location, and recent sales of comparable properties in the area. The primary purpose of an appraisal is to ensure that the lender is not lending more money than the home is worth, which protects the lender’s investment. While an appraisal determines the market value of a property, a home inspection assesses the home's physical condition. Appraisers perform a broad overview to establish value, checking factors like square footage, amenities, and general upkeep. Inspectors, on the other hand, dive deeper into the safety and functionality of the home's systems and structure, identifying any existing or potential issues. What Loan Types Require an Inspection? It’s important to note that most lenders do not directly require a home inspection for certain loan types. However, there are specific loan programs with unique conditions that encourage or necessitate this step. For example, Federal Housing Administration (FHA) loans require an appraisal with specific property standards. While technically not an inspection, this appraisal includes a health and safety review that flags potential issues. If the home does not meet these standards, repairs must be made for the loan to be approved. VA (Veterans Affairs) loans also require an appraisal that assesses the home for Minimum Property Requirements (MPRs) to ensure it is safe, sound, and sanitary. Like FHA loans, while this appraisal is not a full home inspection, it may prompt buyers to pursue one to identify any underlying issues the VA appraiser did not cover. Conventional loans don’t mandate an inspection, but many lenders and experts recommend one on top of the required appraisal. While the inspection itself might not be a formal requirement to secure your mortgage, it's important to understand the standards that different loan types must follow to keep you in the loop and help you make informed decisions. What Are the Benefits of Getting an Inspection? Opting for a home inspection offers numerous advantages that make it well worth the investment. Overall, it helps buyers avoid surprises and expensive repairs. Discovering issues like faulty wiring, plumbing leaks, or foundation cracks before purchasing gives buyers the power to negotiate with the seller for repairs or price adjustments. This often leads to a better final deal and lowers financial risk post-closing. A home inspection also serves as an educational experience for buyers. During the process, inspectors can point out maintenance needs, provide advice on how to handle certain issues and share information that will help buyers maintain their homes more effectively. This proactive learning helps homeowners feel prepared and confident in their ability to manage their property. Another significant benefit is peace of mind. Even when no major problems are found, an inspection reassures buyers that the home they are investing in is safe and solid. For first-time homebuyers, this assurance can be particularly valuable, allowing them to proceed with fewer doubts. Inspections aren’t mandatory for every home purchase and in some cases, the lack of an inspection can strengthen your offer in a competitive market. However, most real estate professionals recommend that buyers include a home inspection contingency in their offer. This provision allows buyers to renegotiate or withdraw if major issues arise, protecting them from unforeseen, costly repairs and enhancing confidence in their purchase decision. By uncovering hidden issues early, buyers can negotiate repairs, adjust their offer, or walk away if necessary. This transparency helps prevent unexpected expenses after closing and provides peace of mind to new homeowners. While home inspections are an additional step and cost in the homebuying process, their value far exceeds the price. By uncovering hidden issues early, buyers can negotiate repairs, adjust their offer, or walk away if necessary. If you want to learn more about home inspections in the mortgage process or want to connect with a Loan Originator to guide you toward homeownership, follow this link and fill out the form to get started.

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