Digital Mortgage Marketplace Morty Expands Affordable Loan Options

  • Morty has expanded its market with FHA loans to better meet the affordability needs of homebuyers in the current market. Since January, Morty has more than tripled his number of customers with needs beyond the more common traditional loans.

  • Over the past year, Morty has launched a variety of new loan options and affordable tools including FHA, HomeReady, Jumbo Loan, ARM, Float Down Option, 14 Day Closing Program and Quick Close Advantage. Morty plans to continue expanding its market in the coming months.

New York, November 8, 2022 /PR Newswire/ — Mortytoday announced the latest expansion in its market as it continues to meet the affordability needs of today’s home buyers. Morty’s Marketplace now offers FHA loans, giving customers access to more flexible down payment and credit score requirements. This expansion reflects the evolving needs of homebuyers and advances Morty’s mission to be the single point of access to mortgages.

Morty (PRNewsfoto/Morty)

To date, Morty has historically focused on offering traditional purchase loans, which comprise the majority of mortgages.ever since January 2022the number of customers coming to Morty for needs beyond these traditional loan options more than tripled, demonstrating the impact rising mortgage rates have had on affordability.

This reflects overall market trends, with mortgage volume on FHA loans up 6.2% year-over-year and up 1.3% in the last three months alone, according to the National Association of Realtors. Morty’s customers have also seen an increase in DTI (debt-to-income) ratio and a decrease in average FICO scores over the past three months. The data points directly to the tougher conditions buyers are experiencing, with U.S. housing affordability at record lows.

“At Morty, we have built a single point of access to mortgages from day one. Nora Apsell, co-founder and CEO of Morty. “We have seen the current affordability challenges firsthand and our market is well positioned to help our buyers navigate this environment.By expanding into FHA loans, we are responds directly to the changing needs of our customers.”

The expansion into FHA loans marks the next step in a year of growing Morty’s market and state footprint. These include HomeReady, Jumbo Loan, ARM, Float Down Option, 14 Day Closing Program and Quick Close Advantage, which were launched earlier this year. Morty is now licensed in over 46 states. washington dcOver the next few months, the company will continue to expand its market with an emphasis on affordability.

“Our market model allows us to provide unbiased expert advice and access affordable options to help our buyers navigate the current market,” he explains. Robert Heck, Morty’s Vice President of Mortgage. “We are actively pursuing new lender relationships and affordable partnerships that allow us to remain a one-stop-shop for anyone looking to buy a home.”

About Morty

Morty (NMLS# 1429243) is an online mortgage marketplace with a mission to increase access to mortgages for millions of homebuyers. Offering a wide range of products, services and guidance online in a one-stop shop, we make it easy for consumers to find the mortgage solution that’s right for them.Head office location new york cityMorty’s team of experts is spread across the country, helping homebuyers reach their homeownership goals in 46 states. washington dc For more information, please visit the following URL: www.morty.com.

contact:
Christopher Farrell
chris@morty.com

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