Chandler Vogel
8444 Westpark Dr, The Fourth Floor
McLean, VA 22102

Contact This Mortgage Professional

Portfolio lending is in high demand as we close out the 1st quarter of 2022! Bridge loans/adjustable-rate mortgages (ARM’s)/loans with unique features are gaining popularity. This year won’t look anything like last year, but there are still plenty of opportunities to be successful in the DC Metro region.

With mortgage rates moving up at their fastest pace since 1994, and inventory lower than ever; getting under contract will be many buyers’ largest hurdle.

Adjustable-rate mortgages are a popular solution to help offset higher fixed rate offerings, and I suspect we will see that trend continue. The difference in payment/terms can be astronomical and should be considered in many instances with the swift run up we’ve had in fixed rate products since the start of the year.

While we are seeing some information-only home inspections and pre-inspections, there are not a lot of other contingencies in contracts that are getting ratified due to excessive competition. Bridge loans create a bevy of opportunities to overcome these obstacles for many buyers. When buyers cannot qualify carrying their current mortgage with a new one, we are able to put them in a position to be successful, and even compete with all cash offers. I’ve personally had tremendous success with this strategy, and it works!

As a buyer, expect ferocious competition with a willingness to submit aggressive offers to have a legitimate shot at ratifying on your dream home. Working with local real estate agents and lenders is paramount to your success or failure in this market – lean on them for their expertise and guidance to increase your success rate.

Chandler Vogel moved to Northern Virginia upon graduating from Virginia Tech in 2006 to begin his mortgage banking career. Through experience, he has built extensive knowledge on properly structuring loan cases for clients and demonstrates a commitment to communication with all parties throughout the loan process. Chandler prides himself on under-promising and over-delivering with the end result of consistent customer satisfaction. Spending time with family, fishing, and golfing (in that order) are where you can find Chandler when he’s not working!