Chris Smith - Luminate Bank

11/05/2026

Big week in housing. Three things you need to know.

First, the Fed held steady, but two members pushed for another hike. That is not a Fed leaning toward relief. If your buyers are waiting for Washington to give the all-clear on rates, that signal is not coming this year.

Second, the president signed a housing order. The headline is a pilot program to automatically cancel mortgage insurance once a homeowner’s equity clears the threshold. It is not a supply fix, but your past clients are going to ask about it and it is worth knowing the answer before they call.

Third, Treasury set a date. Starting January 7th, companies that own 350 or more single-family homes cannot buy more. This applies to the institutional giants, not your local investor client.

Now the numbers. Inventory is the highest it has been since 2019. A record 22 percent of sellers have cut their price. And sellers outnumber buyers by 63 percent. More homes, fewer buyers, and sellers are getting real about what it takes to close.

That is the week. If you want to talk through what any of this means for your situation, reach out.

11/05/2026

College tuition, an unexpected medical bill, helping a family member through a hard stretch. Even when you have saved carefully, life can put real pressure on your finances. Your home equity can be a resource when you need it most.

If you know the exact amount you need, a home equity loan gives you a lump sum. If costs come in waves, like four years of tuition, a HELOC lets you borrow semester by semester rather than taking it all at once.

One important caution on education specifically: compare it against financial aid, student loans, and tuition payment plans first. Student loans carry repayment protections that a loan secured by your home does not.

Here is a use most people do not think about. You found the perfect home but yours has not sold yet. Depending on your equity, income, and credit, a HELOC may help cover the down payment on the new place. Bridge financing and second lien HELOCs are built for exactly this gap. Just keep in mind that new lenders will look at your HELOC payment, your current mortgage, and the new loan together, so you need a realistic timeline for selling and a clear plan to pay it back.

Part five covers HELOC vs home equity loan vs cash out refinance. Stay tuned.

Subject to credit approval. Using home equity for education or a home purchase affects your overall debt. Consult a mortgage professional.

11/03/2026

There are three main ways to access the equity in your home, and each one works differently depending on what you need.

A HELOC works like a credit card backed by your house. You get approved for a limit, draw what you need, pay it down, and borrow again. Rates are typically variable, which means your payment can move. These work well for renovations done in stages or costs that come up over time.

A home equity loan gives you one lump sum upfront with a fixed rate and a predictable payment. Best when you already know the exact amount you need, like a contractor’s estimate.

A cash out refinance replaces your entire mortgage with a larger one and you pocket the difference. The catch: if your current rate is lower than today’s rates, you are giving up that rate on your entire balance, not just the amount you borrow. Always compare the new rate, closing costs, and total interest before going this route.

One more thing -- most HELOCs sit behind your existing mortgage, giving you two payments. But a first lien HELOC can replace your mortgage entirely. Ask your lender which structure fits your situation.

The right option depends on your mortgage, your goals, and your budget. Send me a message and I’ll help you sort through all three.

11/03/2026

Some home improvement projects are about making a space feel like yours. Others, like a roof that cannot wait, are just necessary. Either way, the price tag can be significant, and wiping out your savings is not always the right move.

That is where home equity comes in. The loan type that makes sense depends on the project.

If you are doing a renovation in stages and paying contractors as you go, a HELOC lets you draw funds as you need them up to your limit. You only pay interest on what you have actually used.

If you already have a firm estimate and know the exact number, a home equity loan gives you a lump sum upfront, usually at a fixed rate, which makes your payment predictable.

Quick gut check before you borrow: Do you have a realistic budget? Do you understand the financing costs? Can you handle the new payment alongside your mortgage and everything else? If the answer is yes to all three, you are in a good spot to move forward.

Part four covers the big life moments: tuition, medical bills, and buying your next home before you sell this one. Follow so you do not miss it.

Subject to credit approval and eligibility. Rates and terms vary.

10/30/2026

Juggling five different debt payments every month is exhausting, and if those balances carry high interest rates, a significant portion of what you are paying is just interest with very little progress on the actual balance.

One option homeowners explore is a home equity loan or HELOC. You borrow against the equity you have built in your home, pay off those high interest balances, and consolidate everything into one payment. Depending on the terms you qualify for, the interest rate may be meaningfully lower than what you are currently paying on credit cards.

But before you move forward, compare three things. First, the total interest over the life of the new loan. Second, any upfront fees. Third, how long you will be paying it back. A lower rate stretched out over twenty years is not automatically cheaper in the long run.

Also worth remembering: this loan is secured by your home. It works best when you have a real plan to pay the debt down, not just move it around.

Part three of this series covers home renovations. Follow along so you do not miss it. Subject to credit approval. Compare your options with a mortgage professional before deciding.

10/30/2026

The market your buyers have been waiting for may actually be here right now.

NAR just reported September pending sales down 7.3% from August — the weakest contract volume on record. Asking prices have fallen for eleven straight months, price reductions are climbing, and Freddie Mac held rates flat this week while daily benchmarks are already drifting back toward the low 7s.

Chief economist Lawrence Yun says rates may be topping out. Realtor.com says the market buyers have been waiting for has arrived. Sixty-four percent of markets still saw prices rise in September, which means sellers have equity confidence — but buyers have negotiating power.

The play right now is straightforward: write the aggressive offer, ask for the credits, and keep the contingencies. Send me your buyers and I will run the payment scenarios so they can see exactly what buying today looks like. This window is open right now — and it will not stay open forever.

10/29/2026

Home equity. The math is simpler than most people realize.

Take what your home is worth today, subtract what you still owe, and what is left is your equity. If your home is worth $400,000 and you owe $250,000, that is roughly $150,000 sitting there. Every mortgage payment you make and every increase in your home’s value adds to that number.

Here is the part most people do not think about: you can potentially borrow against it. Not all of it, because lenders look at your loan to value ratio, your credit, your income, and your other debt. But if you have a big expense coming up and borrowing costs feel high everywhere else, your equity is worth a serious look.

Over the next four videos I am breaking down four smart ways homeowners can put equity to work and how to pick the right type of loan for each one. Part two is about paying off high-interest debt. Follow along so you do not miss it. Home equity financing is subject to credit approval and eligibility. Talk to a mortgage professional about your situation.

10/28/2026

One of the most common questions I am hearing right now: should I buy today or wait until mortgage rates come down?

It is a completely reasonable question and the honest answer is more nuanced than most people expect.

Here is the challenge with waiting. When rates improve more buyers typically jump back into the market. More buyers means more competition. More competition can push prices higher. So the lower rate you waited for may come with a higher purchase price that offsets some or all of the payment savings you were hoping for.

There is no perfect moment that makes buying feel effortless. There is only the moment when the numbers and your goals align for your specific situation.

The more useful questions to ask are not about where rates are going next. They are: does this monthly payment fit my actual budget comfortably? Is this the right home for my family right now? Does buying today make sense given where I am in life?

The best time to buy is not always when rates are at their lowest. It is when the payment works, the home fits, and the decision aligns with your goals.

If you are trying to figure out whether now is the right time for your situation reach out and let's look at the real numbers together.

10/24/2026

4.5 star review received on Experience.com for Chris Smith by Lori R - He truly cared about his client.

Click to see all 68 reviews of Chris Smith, Senior Loan Officer

10/23/2026

Freddie Mac just made major updates to their asset-based income guidelines and this is a genuine game changer for a lot of buyers and homeowners.

The program has been renamed to Accumulated Assets as Income and the changes are significant. First, the calculation now divides eligible assets by 180 months instead of 240, which means about a third more qualifying income from the same assets you already have. Second, the age restriction has been completely removed. Previously limited to borrowers 62 and older, this program is now open to buyers of all ages with strong assets. Third, it now covers primary residences, second homes, and investment properties for the first time ever. And fourth, the strict 80 percent loan to value cap has been lifted, giving buyers far more flexibility to purchase or refinance.

This is significant news for high-asset buyers, retirees, entrepreneurs, and anyone with strong savings or investment accounts who has had trouble qualifying on income alone.

Text, call, or DM me anytime for a free consultation and let’s look at how these new rules apply to your situation.