Packaging a file is increasingly important in current climate, argues branch manager
With a state slogan of ‘Live Free or Die’, you could say it’s somewhat ironic that New Hampshire’s property prices, and population, continues to skyrocket. Between 2020 and 2023, New Hampshire's population rose by approximately 24,530 people, with net migration accounting for the entire growth. Here, domestic migration contributed about 79.2% of this net gain - while international migration comprised the remaining 20.8%.
For the housing market, it’s sparked a race between investors, cash buyers and those looking to get into the mortgage world. Speaking to MPA, Chad Goetz (pictured), branch manager at CrossCountry Mortgage, said that they’ve created a lending strategy that not only supports clients but gives them a competitive edge.
‘It’s not just about saying, ‘You’re approved’
“There’s tremendous growth in Southern New Hampshire,” Goetz said. “We have to compete with cash buyers, so we developed our Fast Track credit approval program. Here, we take the file, package it up, submit it to underwriting for an approval – meaning the customer could go shop for the property confidently, get that property under contract and we can close quickly.
“It’s not just about saying, ‘You’re approved’. It’s about packaging the file, getting it underwritten, and giving buyers the ability to move quickly and decisively.”
In October 2024, there were 5,465 homes for sale in New Hampshire, up 11.8% year over year. What’s more, the number of newly listed homes was 1,737, a 2.7% increase from the previous year. The average months of supply stood at two months, indicating a relatively tight market – especially for cash buyers. Because cash buyers aren’t just targeting premium properties – they’re increasingly dominating mid-range price points which often include first-time homebuyers. For Goetz, he sees this as a direct result of a myriad of external factors.
“We have a big mix in the in our area,” he told MPA. “[Mainly between] $400,000 and $800,000 - we have first time homebuyers looking to purchase in that market or in that price range and they're competing against cash buyers. A lot of these buyers are relocating from other parts of the country—places like the West Coast. It’s not local money; it’s institutional money or individuals moving here with cash in hand.”
‘There’s a learning curve - the competition is fierce’
It was this shift in the market that led Goetz to change up his own approach, placing more attention on the clients’ specific needs and the unique challenges first time buyers are facing right now. According to a report from the New York Post, New Hampshire has consistently ranked as one of the nation's hottest housing markets, indicating high demand and competition, factors that often attract investors. And, with only 2.3 months' supply of homes as of August 2024, the limited inventory creates a seller's market which is often appealing to investor
“There’s a learning curve,” Goetz told MPA. “The competition is fierce, and the market has shifted. But our role is to guide buyers through these challenges and ensure they’re equipped to succeed.”
One standout feature of Goetz’s strategy is his hands-on involvement in transactions, with him personally communicating with listing agents to provide assurances about his clients’ financial readiness.
“When my customer puts an offer in, I make sure I’m part of the process,” he added. “I call the listing agent, follow up with an email, and explain the steps we’ve taken. Unless there’s something wrong with the property, they know we’re going to close. And the local aspect is crucial. Being known in the area and having that reputation helps us win deals.”
For investors, CrossCountry Mortgage offers equally tailored solutions – something that can’t go amiss in the current investor-led market.
“We have a DSCR program for investors, P&L-only underwriting for self-employed buyers, and more,” Goetz added. “These products are all in-house. We underwrite them, fund them, and close them ourselves, which gives us flexibility and control that other companies might not have.”
This flexibility is particularly important as market conditions evolve. With Southern New Hampshire experiencing an influx of out-of-state buyers, Goetz has noticed a shift in the types of properties and price points attracting attention.
“The $400,000 to $800,000 range is a hot spot,” he added. “It’s not just first-time homebuyers. We’re seeing a mix of cash buyers and relocating professionals competing in this space.”
‘It’s about understanding the local market’
Such conditions require not just adaptability but a proactive approach to education. Goetz highlights the importance of equipping clients with the tools they need to navigate high-demand markets.
“We’re here to guide them every step of the way,” he added. “From understanding financing options to knowing how to present a competitive offer, it’s all about preparation.”
Preparation is also key for investors looking to expand their portfolios. CrossCountry Mortgage’s investor-focused programs include innovative options like DSCR loans, which allow borrowers to qualify based on cash flow rather than personal income.
“It’s about understanding the local market and offering products that meet diverse needs,” Goetz added.
But Goetz’s success isn’t just about products or programs - it’s about building relationships. His commitment to personalized service extends to every interaction, from initial consultations to final closings.
“For me, it’s about being part of the community,” he told MPA. “That connection makes all the difference, especially in a market as competitive as this one. You have to evolve with the market. Whether it’s new lending products, faster processes, or stronger communication with clients and agents, staying ahead is non-negotiable.”
