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Morgan Fleet

Loan Originator |NMLS 947110
  • (901) 279-5887
  • mfleet@umortgage.com

Meet Morgan!

As your trusted UMortgage Loan Originator, my goal is to simplify the mortgage process to make your home loan experience easy to navigate! Please reach out so I can help start your home financing journey.

Serving Homebuyers In:

  • Alabama
  • Mississippi
  • Tennessee

Mortgage Calculators

Monthly Payment

Affordability

Refinance

VA Entitlement & Payments

Your Mortgage Questions, Answered!

How a Cash-Out Refinance Can Help Fund Your Holiday Spending

The holiday season is coming up, and for many, this time of year can put families through financial strain. Between gifts, travel, and festive gatherings, the expenses can quickly add up, leaving some feeling stretched thin. For homeowners, a cash-out refinance can be an effective way to access the equity in their homes, providing extra funds to cover holiday costs without relying on high-interest credit cards or personal loans. By using the equity they've built, homeowners can enjoy a more relaxed and financially stable holiday season. 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 however they like—whether it’s to pay off high-interest debt, fund renovations, or, in this case, cover holiday expenses. 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. For a more in-depth quote, fill out this form to connect with a UMortgage Loan Originator or reach out to your existing UMortgage partner. Home equity is a valuable asset that accumulates over time as mortgage payments are made and property values appreciate. With a cash-out refinance, homeowners can leverage this value without selling their property, providing access to funds when needed most. The Benefits of a Refi for Debt Consolidation & Holiday Spending While credit cards might seem like a tempting way to cover holiday expenses, the high interest rates can quickly make seasonal spending hard to manage. According to the Federal Reserve, the average credit card interest rate is currently around 22.76%, which can lead to a cycle of unmanageable debt. “There’s a lot of high interest out there, and people are carrying more debt than they’ve ever carried,” says Jimmy Hobson, UMortgage’s National Sales Leader. “A cash-out refinance not only helps you avoid this kind of debt but also gives you a way to tap into your home’s equity that you’ve already built through monthly mortgage payments.” With a cash-out refi, instead of taking on even more debt, you’re using the money you’ve already invested instead of relying on high-interest credit cards or personal loans. After you’ve closed your refinance, you'll get some breathing room before your first mortgage payment, typically due on the first of the month following a full 30 days after closing. So, if you close on November 14th, you won’t make your first mortgage payment until January 1st. This means you could benefit from having a month without a mortgage payment, freeing up extra funds that can be helpful for holiday spending or unexpected expenses. How to Know You’re Eligible for a Cash-Out Refinance Before you start planning your refinance, it’s important first to assess your eligibility and whether it makes sense for your current financial picture. Here are some things to consider: Assess Your Home Equity You should start by calculating your home equity to determine if you qualify for a refi. Your equity is the difference between your home’s current market value and what you still owe on your mortgage. You’ll need an appraisal to determine your home’s market value. A UMortgage Loan Originator will be able to connect you with a reliable appraiser in your area to help you determine the equity owned on your home. Reviewing Your Long-Term Goals There are many benefits to a refinance, but ultimately, you should only do it if it fits your long-term goals. Would it be more beneficial to use your home’s equity to invest, make home improvements, or save for the future? Taking out funds now can impact your mortgage balance and monthly payments, so consider how this aligns with your plans and whether it will keep you on track for achieving financial stability or growth. Get Connected with a UMortgage Loan Originator A UMortgage Loan Originator is your key to personalized mortgage advisory that puts your long-term financial health first. Once you get connected with your LO, they’ll walk you through every step, from eligibility to planning and ultimately unlocking your home’s potential to give you a smart, effective option for covering seasonal expenses. Follow this link and fill out the form to get connected with a UMortgage LO in your area. A cash-out refinance allows you to rely on the investment you've already made in your home, helping to cover seasonal expenses while keeping your financial health in check. Whether for gifts, travel, or end-of-year projects, using your home’s value wisely can make all the difference in enjoying a stress-free holiday season. Follow the link above to see if this option will work for you this holiday season!

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Housing Market Update | Week of November 11th

Last week answered a lot of questions that we had about the economy but posed a handful of new questions about the economic impact that Trump’s second term will have on housing affordability. The Federal Reserve also cut the federal funds rate by 0.25%, though their roadmap for future cuts is uncertain. We should get some clarity as Fed presidents speak with the media throughout the week. Overall, the market should be more stable moving forward. Last Week's Mortgage Rate Recap Rates Rose Slightly It was a busy week last week for the housing market with the direct impact of the election and the November Fed meeting. Rates rose on Wednesday as investors pulled their funds from the bond market and reinvested in stocks, causing bond yields to increase and mortgage rates to follow. With the uncertainty of the election behind us, we could see the bond market stabilize and hopefully see mortgage rates start to trickle lower. This Week's Mortgage Rate Forecast Rates Should Be Steady Looking ahead to this week, we should see more rate stability. Multiple Fed presidents are scheduled to offer some insights into their monetary policy moving forward. We also have an upcoming retail sales report that will provide more data into the trajectory of inflation and could potentially impact the bond market. Overall, we should anticipate a few weeks of market stability as we digest fresh data. We’re quickly approaching the end of the year, and the sooner we start preparing, the better equipped we’ll be to capitalize on what’s sure to be a busy year for the housing market. Next Tuesday, November 19th, we’re hosting an exclusive webinar—Planning for Success in 2025—to help us set goals and develop new winning habits to achieve those goals next year. Register here to learn more and save your spot!

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How the 2024 Election Could Impact the Housing Market

The results of the 2024 Presidential Election are in, and according to Redfin, 38% of early voters prioritized housing affordability when choosing their candidate. With President-elect Donald Trump set to return to the White House in 2025, let’s look at how his policies could impact the housing market. Housing Affordability Throughout his campaign, Trump pledged to make housing more affordable with plans to cut regulations and introduce tax incentives to lower building costs, aiming to boost home construction. If builders find it easier to develop new homes, the increased supply could help balance out high home prices. Potential Price Pressures One area to watch is Trump’s proposed tariffs. While these may help U.S. industries in some sectors, economists suggest they could drive up costs for construction materials. This could lead to higher prices for new homes and potentially push up inflation, which might put upward pressure on mortgage rates in the long term. Tax Cuts and Economic Growth Trump’s tax plan includes extending 2017 tax cuts and introducing new ones aimed at fueling economic growth. For many Americans, lower taxes mean more take-home pay, which can make affording a home easier. However, the long-term effects on the housing market will depend on how these cuts influence the economy overall. The Role of the Federal Reserve The Federal Reserve has been actively working to keep interest rates low, supporting both the economy and the housing market. If this trend continues, mortgage rates may stay relatively stable, even if inflation rises. It’s clear that housing affordability will continue to be a national priority, but the real impact will depend on how Trump’s policies are implemented in the coming years. If you're considering buying a home or refinancing, now may be a great time to consult with a mortgage professional. Follow this link to connect with a UMortgage Loan Originator in your area to get started!

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