The local Mexican restaurants along the Gulf Coast will be packed today starting at lunchtime! There are so many good places to celebrate Cinco de Mayo in Mobile & Baldwin Counties. Do you have plans to dine out today? My favorite place in Mobile to enjoy Mexican food is Taqueria on Airport Blvd. We dined there with our friends Daniel & Christine Lopez and had one of the best evenings since we moved to the port city. Wherever you end up, enjoy yourself!
Things to do on the Coast this Week!
Baldwin County has been preparing for the annual Gulf Coast Hot Air Balloon Festival in Foley. Keep an eye on the weather before heading across the bay. If there is a break in the storms, this is a "don't miss". The balloons are absolutely stunning! The event is held on the grounds of OWA, so there are plenty of places to visit in the event there's a deluge. From the official website: Hot air balloons only fly at sunrise or within an hour of sunset when the winds are more predictable and calm. There are also other factors, such as heat thermals and atmospheric pressure that our pilots have to consider. So what does this mean for the festival? If the weather permits – look to the skies between 7 AM and 9 AM during the festival to see them take flight, or in the early evenings, enjoy a balloon glow on the festival grounds. There are also interactive balloon activities to enjoy during the day. Admission is free and appropriate for all ages.
Fun for Mobile County!
The City of Mobile Parks & Recreation Department is rolling out some fun things to do this weekend. Check their social media page on Facebook for weather updates. I'm excited to see the Market in the Park return in May!
Insider Tip: If you are not following Downtown Mobile Today on social media, you are missing out! Click here to see what I'm talking about!
Pet Owners! Here is something just for you!
Whew, if you've been to your veterinary's office lately you know it has become a costly event. Our boss dogs went last month for their annual check ups and I laid out some $$$. I'm not complaining at all! Marcello is a very healthy, soon to be 12 year old Standard Poodle, who acts like he is a puppy at times. Lil' Jack is ____(fill in the blank) and not aging quite as gracefully as Marcello. He got early signs of arthritis in his back and right hip. We don't know much about Jack's past since we adopted him from our local SPCA when he was an adult. This event is a great way to insure your fur kids' continued health!
Grooming credit: Rebecca at Apollo's Paws! I have to give our groomer a shout out! She is a boss partner, friend and outstanding groomer! In fact, this week I met a new neighbor who has a precious Schnauzer named Milo. Guess who grooms him? Apollo's Paws! Word is getting out!
Mortgage News with Camille Wilkinson
Camille sent this email out a few days ago addressing the confusion over the recent adjustments in mortgage loans. I wanted to share her insightful details with you.
I wanted to let you know about some recent changes to Loan-Level Pricing Adjustments (LLPAs) and credit score requirements for loans guaranteed by Fannie Mae and Freddie Mac, effective May 1st, 2023. The good news is that fees for credit scores below 680 have been reduced. Additionally, Fannie Mae and Freddie Mac have introduced new credit score thresholds for LLPAs at 760 and 780, which were previously only up to 740. There are some myths circulating in the industry that I would like to clarify:
Myth: LLPA changes will raise mortgage rates.
Fact: Fees may increase for some borrowers, but this is not the same as increasing mortgage rates.
Myth: Low and high credit score borrowers get the same interest rate.
Fact: Lower credit score borrowers receive reduced fees, but they still pay a higher rate than higher credit score borrowers. Having a higher credit score has many advantages when applying for a home loan.
Myth: LLPA changes only affect borrowers with low credit scores.
Fact: Credit score is only one factor in the new pricing structure. Debt-to-income ratio is also factored in, meaning borrowers with high levels of debt relative to their income may see an increase in fees. LLPA changes are not meant to punish borrowers, but to ensure accurate loan pricing based on risk.
Myth: LLPA changes suggest it's not an ideal time to buy.
Fact: LLPA changes have reduced fees for first-time homebuyers and low-to-moderate-income borrowers to increase affordability, making now a good time to purchase a home.
Myth: LLPA changes make it harder to qualify for a mortgage.
Fact: Lenders still follow underwriting guidelines set by Fannie Mae and Freddie Mac. LLPA changes may even make it easier for some high-risk borrowers to qualify by accurately pricing loans based on risk.
Contact Camille by calling her office at 251-378-9859 or read more at meetdaboss.com/camillewilkinson.
Have a great week everyone and treasure every minute of it.
Find small ways to tend to your wellness & happiness every day.
~ Charlsie
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