Interview with Mortgage Executive, Derek Horton

Two things can be true at once: buying a home in the Upstate is still a smart long-term move for many households, and the path to the closing table has rarely required more clarity, communication, and local know-how. In this episode of Selling Greenville—recorded before Silicon Valley Bank folded—Mortgage Executive Derek Horton, Senior Vice President at Southern First, sits down for a candid conversation about what actually moves a loan from application to “clear to close,” why going local still matters, and which persistent myths keep would-be buyers on the sidelines longer than necessary.

The episode also marks a milestone for the show: its first on-air guest, paired with a low-key video experiment, the host admits, will get prettier over time. Fancy backdrops aside, the insights here are all substance—practical, specific, and grounded in years of hard-won experience on both the real estate and lending sides of the table.

Greenville Interview with Mortgage Executive, Derek Horton

The Greenville interview with mortgage executive Derek Horton wastes no time getting to the heart of a common 2023 dilemma: why choose a local loan officer when the internet promises one-click pre-approvals and bargain-bin rates? Horton’s answer is simple and story-driven. A buyer came to him two weeks before closing after an online lender went silent for a week. Phones rang, inboxes filled, and nobody responded. A local team stepped in—relationships with processors, underwriters, and appraisers in the same building—and the deal crossed the finish line.

That, Horton argues, is the difference. Local lenders care because they must. They see clients at the closing table. They run into agents in town. They answer to reputations forged across many transactions, not just one. And when something goes sideways—as it often does—being able to walk down the hall to an underwriter, explain an edge case, and problem-solve in real time can make or break a file. Distance erodes accountability; proximity restores it.

What a strong local loan officer actually does all day

Horton’s “day in the life” is equal parts analysis and triage: pull credit, review uploaded docs, issue pre-approvals, chase conditions the underwriter needs, and keep communication humming with clients, agents, attorneys, and internal teams. It’s also a sales role, he notes—nurturing relationships with REALTORS®, financial advisors, and other referrers so there’s still business next month. The best in the business, in his view, are chaos managers: they absorb stress so buyers don’t have to.

A surprising uptick—and what it might mean

While broader headlines said mortgage applications were down, Horton saw a personal uptick starting the previous Tuesday. He’s not calling it a trend; he’s just flagging that local pipelines can move differently than national chatter might suggest.

The most costly myths buyers still believe

Horton’s career—and his own homebuying story—shatter a few stubborn assumptions:

• “You need 20% down.” Not necessarily. Horton bought his first home at 25 with a USDA no-money-down loan. Private Mortgage Insurance (PMI), once painfully expensive in prior generations, is now quoted across multiple providers at once, which forces competitive pricing. Translation: entry can be far more attainable than people assume.

• “My rent proves I can afford the same mortgage payment.” Landlords rarely run true debt-to-income calculations. Underwriters do. That $1,500 rent doesn’t automatically translate to a $1,500 mortgage approval once car loans, student loans, and revolving debts are added to the proposed payment.

• “My credit’s too low—what’s the point? ” Horton has helped borrowers climb from the low-500s to qualifying territory with time, a plan, and discipline. He prefers 600+ for pricing, but FHA can sometimes work lower; the real key is partnering early and following a tailored roadmap. One current client rented the same home for 15 years and is now days from closing after a year of intentional credit building.

• “Assumable mortgages will solve everything.” In theory, yes—some FHA/VA and select portfolio loans are assumable. In practice, rapid appreciation leaves a large equity gap; the buyer must bring in cash (e.g., a $300k home with a $220k assumable balance requires ~$80k down). Great when it pencils out, but not a universal fix.

Rates, whiplash, and what changed since the frenzy

Horton locked a 30-year fixed at 2.375% during the pandemic boom (and saw 10- and 15-year options even lower). Fast-forward: a month before this recording, 30-year rates flirted with the high 5s; then jobs and inflation prints knocked them back toward ~6.875–7.125%. That snapback strains purchasing power and reintroduces uncertainty.

Why are mortgage rates elevated beyond what the 10-year Treasury might imply? In Horton’s view, it’s risk pricing. The Fed’s rapid hikes raise the probability of slower growth and higher unemployment; lenders, anticipating more delinquency risk down the road, build extra yield into today’s rates. The market has largely “priced in” near-term hikes; the bigger swings would come if data suggest the medicine isn’t working.

Bold but humble outlook: Horton expects some softening later in 2023, more so in 2024, and sees a healthy long-run band around 5–6%—far from the emergency-era twos, but supportive of a balanced market. He doesn’t expect a local “housing crash”: Americans hold record equity, many have low fixed payments, and in hardship can often sell before default.

How REALTORS® raise—or ruin—your odds of closing

From the lending seat, the gap between average and excellent agents isn’t flashy. It’s communication. The best answer calls, texts, and emails quickly; they stay accountable through closing rather than offloading everything to a transaction coordinator. Knowledge matters too, Horton says, but responsiveness is the force multiplier when surprises hit (and they will).

Should buyers act now—or wait?

Horton doesn’t believe homeownership is right for everyone at every moment; life happens, and renting can be the wisest choice in certain seasons. But for households who want to buy in the Upstate and plan to stay, he offers a clear frame: prices here are unlikely to be cheaper two years from now. Demand remains intense (think ~20 people per day moving into the Greenville area), and inventory is structurally constrained. If a monthly payment works today, borrowers can always refinance when rates ease; the same home could cost meaningfully more later.

A quick, timely shout-out

This conversation was recorded on International Women’s Day, and Horton offers a lighthearted nod celebrating women’s excellence and endurance. The moment passes, but the sentiment stands.

How to contact the guest

Derek Horton is Senior Vice President & Mortgage Executive at Southern First. The episode notes that the host can connect listeners with Derek—reach out using the contact information in the show notes to request Derek’s details and an introduction via Southern First.

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Bottom Line

The Greenville interview with mortgage executive Derek Horton draws a clean map through a noisy market: go local when stakes are high, start conversations early, and trade myths for math. Rates are choppy; relationships, documentation, and steady communication are the constants that still get keys in hands. For buyers who want to plant roots in the Upstate, the smarter move is often to structure an affordable payment now—and let future refinances handle the rate curve later.

Ien Araneta

Journal & Podcast Editor | Selling Greenville