Recessions can be scary times, but have you ever looked at how good Real Estate does during Recessions?
Homes are the most valuable investment in recessionary times… because people still need their homes, even if the market is bad.
Other Investments (Stocks, Bonds, Crypto, etc) can easily be sold off, but you wouldn’t sell your home just because the economy is down.. and that is what keeps home values strong in these times!

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🏠 Buying your first home?
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Let’s create your home buying plan:

→ Send me a text (816) 631-9687
→ Shoot me an email: dmcgowan@nexamortgage.com
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Our Mortgage Process:

McGowan Mortgages makes the loan process quick and easy so you can focus on your home search, close rapidly, and receive the keys to your new home.

1. Pre-Approval. Run numbers on your offer. Lock in your best interest rate/financing
2: Order Appraisal. Title work, insurance. Help you gather documents for underwriting. Liaison between underwriter and homeowner to complete clear to close/final approval.
3. Homeowners Insurance | Title Work | Appraisal
4. Underwriting
5. Congratulations! You are cleared to close!

The Perfect Loan Timeline

Day 1 – Loan is started, the McGowan Mortgages Team confirms all details of the transaction
Day 2 – 4 – Initial disclosure are emailed and signed by Homeowner
Day 6 – 7 – Loan is sent to underwriting. Title, Insurance and Appraisal are ordered
Day 8 – 10 – The loan conditionally approved by underwriting
Day 10 -12 – The Processor goes over final items with Homeowner
Day 15 – 20 – The Final items are completed, The loan is sent back for final approval with underwriting.
Day 20 – 22 – Final Approval cleared to close!
Day 22 – 25 – Closing!
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McGowan Mortgages
800 E 101st Terrace Ste. 350B
Kansas City, MO 64131
(816) 631-9687

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ABOUT ME:

I am Derek McGowan, your mortgage professional. As a licensed mortgage originator, my reputation is built on professionalism, integrity and the ability to keep transactions on track. I am dedicated to helping my clients obtain a mortgage that fits their specific financial goals. I am passionate about helping my clients and focus on bringing you peace of mind throughout the home financing process.

I am always here to answer your questions! Ultimately a successful loan closing is my main goal. My team and I use our collective skills and expertise to make that happen for you. We are 100% committed to total client satisfaction. From the first phone call to the closing, we are here for you. I can assist first time homebuyers, investors, self-employed borrowers or high net worth clients with the same smooth efficiency. Regardless of your situation, I will direct you through the process and continue to be a resource well after your loan has closed.

Derek McGowan – NMLS # 1478470

Derek McGowan is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.
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BREAKING: Recession News

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The real estate market is often seen as a reliable and profitable investment, but when a recession hits, it can have a significant impact on the industry. A recession can cause mortgage rates and interest rates to fluctuate, making it a difficult time for both buyers and sellers in the real estate market.

During a recession, mortgage rates tend to be lower as the Federal Reserve attempts to stimulate the economy by reducing borrowing costs. This can be a positive for potential homebuyers as they can take advantage of lower rates and potentially save money on their monthly mortgage payments. However, it can also make it more difficult for sellers to find buyers as they may be hesitant to make a large financial commitment during uncertain times.

On the other hand, interest rates can also impact the real estate market during a recession. With lower interest rates, it may be more attractive for buyers to borrow money for a home purchase. However, in a recession, lenders may also tighten their lending standards, making it more difficult for buyers to qualify for a mortgage. This can lead to a decrease in demand for homes, resulting in a slowdown in the real estate market.

Additionally, during a recession, the overall economic uncertainty can lead to a decrease in consumer confidence, impacting the real estate market even further. Homeowners may be hesitant to sell their properties, fearing they won’t get the selling price they desire, while potential buyers may be wary of making a large financial commitment during a recession.

So, what does this mean for the real estate market during a recession? It means that the market will inevitably be affected, with decreased demand and increased caution from both buyers and sellers. However, it’s important to remember that the real estate market is cyclical and will eventually recover.

For potential buyers, a recession can present opportunities to find good deals on properties and take advantage of lower mortgage rates. For sellers, it may require patience and strategic pricing to attract buyers in a slower market. Real estate professionals can also provide valuable guidance and expertise during these challenging times.

In conclusion, a recession can have a significant impact on the real estate market, with fluctuations in mortgage rates, interest rates, and consumer confidence. However, the market will eventually recover, and strategic decisions can help both buyers and sellers navigate through uncertain times. So, while a recession may pose challenges, it can also present opportunities for those involved in the real estate market.