Company’s newest loan officer offers advice for buyers dealing with bidding wars;
says homeowners thinking of refinancing should do so before December
October 27, 2020 ─ DANVERS, MA – Mortgage Network, Inc., one of the largest independent mortgage lenders in the eastern U.S., announced that Michael McSharry has joined the company’s Boston, Massachusetts branch as a mortgage loan officer, where he will be responsible for serving homebuyers and homeowners throughout the Boston area.
A South Shore native and active member of the local community, McSharry (NMLS #1960074) grew up in Rockland, Massachusetts and now resides in Hanson. His career in the mortgage industry began 20 years ago working for a brokerage in Abington and later for Metlife Home Loans in Braintree. He also has over a decade of marketing experience.
McSharry said the demand for homes in the Boston area is outpacing supply, so buyers need to prepare. “Most listings are bringing in multiple offers, which is driving sales prices up well above asking price,” he said. “Before dipping into the market, buyers should first work with a trusted lender to understand their financial limits and get preapproved. Then, hire a local Realtor who knows the area and can help you make a strong offer—but be careful not to extend beyond your limit, should you find yourself in a bidding war.”
McSharry also said mortgage rates are at an all-time low but may not stay that way. “Short-term factors to consider are the election results and the passing of another stimulus package,” he said. “Refinance rates will also be affected by the ‘Adverse Market’ fee which will be imposed by both Fannie Mae and Freddie Mac starting December 1st. This fee, imposed as a response to the economic impact and uncertainty caused by COVID-19, could raise the costs of refinancing. If you’re thinking of refinancing, it would certainly make sense to do so before December 1st.”
“Michael knows a lot about the South Shore area and its people, so we’re happy to have him join us,” said branch manager Ben McKillop (NMLS# 441877). “With his deep knowledge of market conditions and strong connections in our community, I have no doubt he’ll be able to assist many area residents make the best mortgage decisions to fit their home financing needs.”
“I’m excited to be part of the Mortgage Network team and helping homeowners and home buyers in the Boston area with their home financing needs,” McSharry said. “This company is very well respected and has high consumer rankings, and now is definitely the time to be speaking to a trusted lender if you’re in the market to buy a home.”
McSharry attended Stonehill College in Easton, Massachusetts, where he received a bachelor’s degree in communication and is a member of the Stonehill College Athletics Hall of Fame for Football. He coached youth football in Hanson for three seasons and in Marshfield for one season. McSharry is also a member and supporter of the Dogs Football Fund, a non-profit dedicated to the success of the Rockland High football team founded by his brother Tony McSharry, a South Shore Realtor.
McSharry can be reached via email at mmcsharry@MortgageNetwork.com or by phone at (617) 531-5586. He can also be reached on LinkedIn at www.linkedin.com/in/michaeljmcsharry/, on Facebook at www.facebook.com/mmcsharryjr, or through his website at www.michaelmcsharry.com.
About Mortgage Network, Inc.
Mortgage Network, Inc. is one of the largest, privately held independent mortgage companies in the eastern U.S., with 35 branch offices and licenses in 27 states. The company offers a flexible menu of agency direct, portfolio and jumbo solutions and is backed by its proprietary, award-winning technology and a commitment to help mortgage professionals grow their business. Year after year, more than 98 percent of Mortgage Network customers and referral sources say they would recommend the company to family and friends. Based in Danvers, Massachusetts, Mortgage Network was founded in 1988 by Robert McInnes and can be found online at www.mortgagenetworkcareers.com and on Twitter at @MNETMortgage.com.