Motto Mortgage Prosperity in Milton announced record sales for September with nearly $6 million in loans closed in 30 days.
It’s the best month yet for the nearly 2-year-old mortgage firm, which is a subsidiary of the Oldfather Group’s growing stable of locally owned and operated companies at the Delaware beaches.
The $6 million total for September is nearly half of the $14.5 million of loans originated by Motto Mortgage Prosperity in 2019, indicating a growing market share for the company founded in December 2018 by Dustin and Mariya Oldfather.
“We’re certainly excited that our mortgage company is growing to keep up with increased demand in Delaware and Maryland’s coastal regions,” said Mariya Oldfather, broker for Motto Mortgage Prosperity and chief financial officer for the Oldfather Group of Ocean Atlantic Sotheby’s International Realty. “We offer competitive rates and the region’s best customer service team, so we fully expect to grow well into the future.”
Motto Mortgage Prosperity closed $14.5 million worth of loans in 2019, its first full year in business. That number more than doubled through the first nine months of 2020, with $30.2 million worth of loans already on the books.
Major factors contributing to the rise in business include lower interest rates, an increased demand in the local housing markets and available programs such as Conquest loans being offered through a partnership with United Wholesale Mortgage. Growing increasingly popular in the coastal region and throughout the United States, this program offers 30-year fixed rates starting at just 2.5 percent on new borrower purchases and refinances. It’s a great option for borrowers who haven’t closed a loan through UWM in the last year-and-a-half.
“UWM Conquest is just one of the many mortgage programs that we offer, but it’s also quickly becoming one of the most popular due to the great rates and terms,” said Oldfather. “We have loan originators on staff who are expertly trained in this and several other advantageous mortgage programs, so we invite everyone to contact us today to learn more.”
Milton’s Motto Mortgage Prosperity is part of the nationwide Motto Mortgage network of independently owned, operated and licensed mortgage brokerage offices. It is currently the only Motto Mortgage office in Delaware. The office also serves customers in Maryland.
Ward Morrison, Motto Franchising LLC president, said, “Closing nearly $6 million in loans is not only a major accomplishment for the Motto Mortgage Prosperity team, it also represents all the homeowners who have been helped along their homeownership and refinancing journeys. I look forward to celebrating the office’s continued growth.”
For more information, call 302-249-6665, go to mottomortgage.com or stop by the southern Delaware offices at 16394 Paynters Mill Blvd., Unit 102.