As home prices continue to climb, Bob Driscoll of Rockland Trust warns that many buyers are settling or stepping out of the market entirely. https://t.co/Y54S25Xj1F
— Mortgage Professional America Magazine (@MPAMagazineUS) May 9, 2025
“With more qualified buyers in the mix, the competition intensifies, driving up prices as buyers outbid each other,” Carrillo said. “Essentially, the same factor that provides relief to some buyers can create frustration for others who get priced out due to bidding wars. It underscores the importance of finding balance, both in policy and in the strategies we use as professionals to guide our clients.”
Alternative financing set to grow in the years ahead
Carrillo notes that brokers and loan officers will need to remain resourceful to help customers navigate the ongoing challenging market and believes alternative financing options could help customers who are struggling with affordability issues.
“This market demands resourcefulness,” he said. “I’d recommend that brokers familiarize themselves with alternative funding options beyond traditional banking. Local credit unions, community development financial institutions, and crowdfunding platforms can provide flexible options for buyers or developers who face traditional financing barriers.
“Exploring loan products like FHA 203(k) renovation loans or construction-to-permanent loans can also help clients achieve homeownership in challenging conditions.”
Brokers can also provide guidance to borrowers to ensure they understand their financial situation and plan a path that best suits their needs.
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