

Ty Downing
Meet Ty!
A Florida native, Ty Downing was born and raised in the Tampa Bay area. Ty joined the US Navy in 2009 and was stationed at NAS Jacksonville where he served for 11 years as a Naval Aircrewman. After four deployments, he decided to transition to a training consultant role for the Navy, which allowed him to start a family. During his time in the service, he also received his Bachelors in Business and Minor in Finance from Columbia College of Missouri, and was also selected to attend the University of Florida’s Professional MBA Program. Ty has always had a passion for real estate and values building relationships with his customers and— more than anything— wants to help others, especially other service members, through the homebuying process. Ty believes in honesty, communication, and doing what’s right for the customer. His number one priority is following the golden rule: treating his customers how he and his family want to be treated. In his free time, Ty enjoys spending time with his wife and son, and sneaking away to the golf course when he can. Him and his family love to go on vacation, especially to the House of the Mouse, and they never miss Sunday Football (Go Broncos!) or a Chelsea Futbol match.
Serving Homebuyers In:
- Florida
- Georgia
- Texas
- Washington
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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 me.
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Refinancing might save money on your monthly mortgage payments, putting cash in your pocket. With some basic information from you, we can help decide if this is a good path for you.
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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 me.
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If you are a veteran, an active-duty member of the military, or the spouse of a current or former military member, you are eligible to purchase a home with your VA home loan benefit! By using the calculator below, you can get a glimpse into your buying power and the estimated monthly payment of your VA loan as you start planning your homebuying journey.
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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 me.
Your Mortgage Questions, Answered!

Housing Market Update | Week of August 4th
What a week for mortgage rates! Friday’s Bureau of Labor Statistics (BLS) jobs report made the 10-year yield look like a waterfall, dropping from 4.4% on Friday morning all the way to 4.2% at the end of the day. This sent mortgage rates lower and significantly increased the chances of a rate cut during the next Federal Reserve Meeting in September. Speaking of Fed meetings, the July Fed Meeting was last week. We didn’t get a rate cut, as expected, but Chairman Jerome Powell reinforced the point that the Fed is looking at increased weakness in the labor market to cut rates. Friday’s BLS gave us that kind of data; July’s job creation came in way lower than expectations, but the real story was May and June’s figures being revised lower by a combined 258,000 jobs. This has not only increased the likelihood of a rate cut in September but has potentially put a double rate cut in play. Below, we’ll explain more about the report, why revisions like this happen, and what this means for mortgage rates moving forward. Last Week's Mortgage Rate Recap Rates Dropped Last week had a ton of data and headlines that culminated with the 10-year and mortgage rates both dropping significantly on Friday. There's a lot to digest, so we'll break this down into two sections. Fed Meeting Mortgage rates held steady in anticipation of Fed Chairman Powell’s post-meeting press conference on Wednesday. As expected, we didn’t see a rate cut. In his press conference, Powell directly cited a higher unemployment rate and flat inflation as means to justify a rate cut this year. We did see two votes from Fed members in favor of a cut (the first dissent we’ve seen in more than a decade), and Fed Governor Adriana Kugler announced that she would step down from her role at the end of the week. This dissent, plus a shakeup in the Fed, both played a part in the markets now anticipating a cut during the next meeting in September. BLS Jobs Report What played the most significant part in this mood shift, however, was Friday’s BLS jobs report. Not only did July job growth come in lower than expected (110,000 expected jobs created, 73,000 actual jobs created), but the BLS reports for May and June were revised significantly lower. May’s report was revised from 125,000 to 19,000, and June was revised from 133,000 to 14,000. These are significant drops and suggest a labor market that’s on the verge of breaking. These revisions are certainly jarring, but when you dive into the underlying data, the writing’s been on the wall for a continually weaker labor force throughout the year. Private payroll data, consumer consumption figures, and residential construction jobs have all been trending lower throughout the year. If this continues, rates could continue to drop heading into 2026. This Week's Mortgage Rate Forecast Rates Could Go Lower Compared to last week, the week ahead is a quiet one. The biggest thing to keep an eye on is Thursday’s weekly Initial Jobless Claims report, which measures the number of individuals filing their first unemployment claim. As we’ve said all year, the labor market holds the keys to lower mortgage rates. If we see Initial Jobless Claims trend higher, it will support the data suggesting that the labor market, hiring, and job growth are all slowing significantly. And that would mean lower mortgage rates. Beyond this week, what should we expect with mortgage rates for the rest of the year? There are a lot of factors at play; we have another round of monthly data (BLS jobs report + CPI, PPI, and PCE inflation data) all coming before the next Fed Meeting on September 17th. If the labor data continues to weaken and we don’t see inflation grow, that will only increase the likelihood of a rate cut in September, and perhaps rate cuts in October and/or December to follow. The following month or so will be a pivotal point for mortgage rates and the housing market. It finally feels like we could be on the cusp of a market with higher demand, lower rates, and enough inventory to get more buyers a great deal. There's a lot going on in the market, so if you have any questions regarding rates or specific products for any of your buyers, make sure to stay in touch with your UMortgage Loan Originator for timely updates and expert insight!

How to Consolidate Debt Using Your Home Equity
If you’re like many homeowners holding off on refinancing because you don’t want to lose your low mortgage rate, it might be time to look at the bigger picture. Yes, rates aren’t what they were a few years ago. However, credit card debt is at record highs, with average interest rates north of 20%. For households juggling thousands in revolving debt, it’s not the mortgage rate that’s crushing monthly cash flow; it’s those high-interest minimum payments. If you’re feeling financially squeezed, loan products like a cash-out refinance or home equity line of credit (HELOC) can help you take control by using your home’s equity to consolidate debt and reclaim hundreds, sometimes thousands, in monthly breathing room. Brian Cardenas, UMortgage Loan Originator, has been using these strategies to save his clients hundreds of dollars per month. “Money is one of the biggest stressors that we experience in our lives,” said Cardenas. “People are sitting on a ton of equity and a really low interest rate on their home. But they also have this albatross around their neck of this high-interest debt that’s just crushing them.” According to the Federal Reserve Bank of New York, total outstanding credit card debt stood at approximately $1.21 trillion by the end of Q4 2024 – a $45 billion increase from the prior quarter, marking a 7.3% year-over-year rise. At an average APR of 21.37%, as reported by the Federal Reserve in February 2025, that extra debt adds up fast. With a cash-out refi or HELOC, you’re using the money you’ve already invested in your home instead of taking on more debt with high-interest credit cards or personal loans. Here’s how each works, so you know your options before you commit. What is a Cash Out Refinance and How Does One Work? A cash-out refinance allows homeowners to replace their current mortgage with a new loan that provides extra funds by tapping into the equity homeowners have built in their property. Essentially, homeowners can "cash out" a portion of their equity to use as they see fit. This process works by allowing homeowners to borrow against their home equity, which is the difference between the home’s appraised market value and the remaining mortgage balance. By taking out a larger loan, the borrower receives the excess in cash after paying off the original mortgage. For a clearer picture of how this can work, use UMortgage’s Refinance Calculator to see what a cash-out refi might look like for you. What is a HELOC and How Does One Work? A Home Equity Line of Credit (HELOC) is a loan that lets you borrow against your home’s equity without replacing your existing mortgage. Think of it like a credit card that can be used, repaid, and used again over time. This flexible borrowing option is based on the difference between the home’s current market value and the outstanding mortgage balance. Homeowners can draw from the line of credit as needed, whether for home improvements, debt consolidation, or other significant expenses, and only pay interest on the amount they use. Why You Should Consult with an Expert Before You Act Accessing your equity is just like any other mortgage product: there’s no one-size-fits-all option. That’s why it’s so important to consult with a mortgage expert before you pull the trigger. Working with a UMortgage Loan Originator takes out the guesswork; you’ll have someone in your corner who will present you with all your options so you can make an informed decision that works best for your financial future. “After crunching all the numbers, I found out that there were some considerable savings that we can present to this borrower and help relieve some of the financial burdens that they’re experiencing every single month,” said Cardenas regarding a client whose debt he consolidated earlier this year. “We’re just simply presenting options and letting the consumer decide which, if any of these options, is going to fit their needs best.” If you want to discover your options to consolidate your debt with your home’s equity, fill out this form to connect with a UMortgage Loan Originator in your area. They’ll reach out shortly after you submit to start the process.

5 Things You Need to Do to Prepare for a Refinance
Refinancing your mortgage can be a smart move to improve your financial situation, but it’s not something you want to rush into unprepared. Whether your goal is to lower your interest rate, consolidate debt using your home’s equity, add/remove someone from your mortgage, or adjust your loan, setting yourself up for success starts with preparation and education. In this guide, we’ll walk you through five key steps to help you feel confident and ready to make the most of your refinance. Set Your Refinance Goals There are a lot of reasons you might want to refinance, with specific programs that will help you achieve your specific goals. That’s why the most important first step of a refinance is determining why you want to refinance. Is your goal to save money by lowering your monthly mortgage payment? Maybe you want to cash out some of your equity to pay off high-interest debt like credit cards or auto loans. Perhaps you want to use your equity to pay for a home renovation project. Or you might have an FHA loan that you want to turn into a conventional loan to get rid of your mortgage insurance premium payment. A refinance can help you achieve any of these goals. Before you get the ball rolling on your refi, it’s important to identify those goals so you know what kind of refinance works best for you. Not entirely sure of your goals? See the top 3 reasons why homeowners choose to refinance their mortgage with UMortgage for some inspiration. See How Much Equity You Have If you want a conventional refinance, lenders typically require a minimum of 20% home equity. Your equity is the difference between your home’s current market value and your mortgage’s remaining principal balance. For example, if your home is appraised at $300,000 and your mortgage’s remaining principal balance is $150,000, then you have 50% or $150,000 in equity. You can find your remaining mortgage balance on the same site where you pay your mortgage each month. For an accurate assessment of your home’s market value, you’ll need to get it appraised. Appraisals are a mandatory part of the refi process, which we’ll touch on later. Use UMortgage’s Refinance Calculator for an estimate of your refi options. Review Your Finances Just like the mortgage process when you bought your home, lenders will need to review your current financial picture to determine the refinance options and loan terms that you qualify for. This includes your credit score, income, debt, and available assets. For example, when you apply for your refinance, you’ll need to provide an up-to-date credit score. A higher score (typically 740 or higher) can unlock the most competitive rates, while a lower score might mean higher rates or more limited options. Beyond your credit score, you’ll also want to review anything that could prevent you from qualifying. Think about things like tax liens, recent debt delinquencies, or a high debt-to-income ratio. Addressing those issues ahead of time will expedite the refi process, improve your chances of approval, and get you better terms. You’ll also need to factor in closing costs, which typically range from 2–5% of your loan amount. You can pay these out of pocket, roll them into your new loan, or ask your UMortgage Loan Originator about a no-cost refinance. Finally, gather all necessary documentation for your application. That includes: Recent pay stubs or proof of income W-2s or tax returns Bank statements Documentation for any large deposits or financial gifts Having these prepared can help you navigate the refinance process more smoothly and confidently. Connect With a UMortgage Loan Originator The most important step in the refinance process is connecting with a mortgage expert who can help you understand your options and guide you toward the best solution for your goals. When you work with a UMortgage Loan Originator, you gain a strategic mortgage partner invested in your long-term financial well-being. They’ll help you understand what’s possible now and what steps to take to improve your position if now isn’t the best time for you to refinance. With their support, you can feel confident knowing you're making the best decision for your financial future. Ready for an expert’s insight? Fill out this form to get connected with a UMortgage Loan Originator in your area. Prepare Your Home for a Refi Appraisal Just like when you first bought your home, your refinance will require an appraisal. The appraiser’s job is to estimate your home’s current market value, which helps determine how much equity you have. That number can impact everything from the rate you’re offered to how much cash you can access if you’re doing a cash-out refinance. While you can’t control the market or magically add square footage, you can take a few smart steps to make sure your home shines during the appraisal. Start with the basics: clean up, declutter, and take care of any small repairs you’ve been putting off. Things like chipped paint, leaky faucets, or broken fixtures can influence the appraiser’s overall impression of your home and impact your value. Next, make sure your home is up to code when it comes to health and safety standards. Check that smoke and carbon monoxide detectors are installed & working. If the appraiser can’t verify that your home meets the necessary standards, it could delay your refinance or even affect your eligibility. Finally, don’t be afraid to advocate for your home. If you’ve made any significant improvements (like updating your kitchen, replacing your roof, or installing new flooring), create a list to share with the appraiser. It’s a great way to ensure your upgrades are seen and factored into your home’s value. Eager to learn more about your refi options? Click here and fill out the form with your refinance goals, and we’ll get you connected with a UMortgage Loan Originator near you who will help you get the process started. If you want to do more independent research about the refinance process, dive deeper with our resources below! How to Refinance Your Mortgage Three Reasons to Refinance Your Home Loan UMortgage’s Refinance Calculator How a Cash-Out Refinance Can Balance Your Budget Your Credit Score’s Role in the Mortgage Process
Serving Homebuyers In:
- Florida
- Georgia
- Texas
- Washington