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Hey everyone and welcome to the Always On Point podcast with Kristin Ambos here with 97.9 FM, 1590 AM WGBW as well as a Civic Media app.
So, so excited to be here today.
Want to just start out like we typically do with a little bit of a update on where the market is at.
Where is the mortgage market?
Well, in the last couple of weeks, some of the changes that have been made for the better is that the 10 year
Treasury note dropped under 4%.
Now, layman's terms, what does that mean?
It just means it's the lowest level that it's been in almost a year.
So that's great news.
It's holding strong.
We were a little hesitant last week when the CPI report came out, which is the big inflation data charts.
And it's one of the top inflation charts we watch.
And as you might be aware, if you've watched the media at all, it will tell you that inflation is still on
Everyone's radar and where rates really were reflective in the inflation in last year The one great thing that happened after last week is even though inflation is still up the mortgage rates did not change they stayed perfectly unchanged, which was a
exciting for us.
That 10-year Treasury note being under 4% at 3.9 is actually keeping rates on average right now, purchase rates on average at 6.13% on a 30-year fixed, 5.72 on a 15-year fixed.
So that's awesome.
Those rates come from Mortgage News Daily.
You can go there and check them out yourselves.
But that is where this week's rates are coming in at.
So love to see it.
I myself have been locking in in the upper fives, low sixes.
So I'm right in tune, really competitive with those rates, whether you're looking at an FHA, a jumbo, or a VA loan, for example, as well as a 30-year fixed conventional.
So a lot of really good rates out there.
One thing that is great about this year, as opposed to last year, is this year rates
ticked up.
And now we are at the lowest levels we've seen in a year.
So that's really exciting.
The trajectory of that is that rates will stay low and potentially two more rate cuts into early spring of 2026.
So really exciting there.
You know, surprisingly though, it's not moving the needle.
as much as you would think for people rushing into the housing market.
So I want to talk about that today because it's really important, especially if you're on the sidelines thinking that now's the time to get in or if you're thinking when is the time to get in to buy.
The other thing we're going to talk about today is refinancing and what does it look like for people?
So I want to touch base on that.
We've got a couple of questions we're going to answer.
I want to talk about equity.
Equity is a huge factor right now.
Well, there's about $7 trillion of unsecured debt, about three to four trillion of that is credit card debt.
And there's a lot more of equity out there than that.
So I wanna give you some examples of what people are doing with that equity.
One of the falsehoods out there that the mainstream media is putting into the world right now and I just wanna correct is foreclosure rates.
Yes.
for closure rates are quote unquote technically up.
However, they are up from the like all time lows of the housing industry during the COVID market when rates were at like two and 3%, right?
So they were really, really low then.
Of course they're up.
life happens, medical things happen, divorces happen, people, you know, pass away, job loss, those things are real life.
And that's every day, no matter what the market is.
So yes, foreclosures are up.
However, they are up so
Miniscule compared to what the media is making it out to be media loves to scare tactic They love to put the negative into the universe and and you know people are saying back going oh I'm just gonna wait for this housing crash here to tell you there's not going to be a housing crash There's still too much equity
out there for people.
And again, in this conversation, I want to delve into that.
So you guys really understand what that equity is.
How could it work for you?
What's it going to do for you?
When's the right time to get in the market to build your own wealth and your own equity if you're not already?
So those are some things that are on, you know, my radar today.
And as always, I've
got a story of a lender gone bad, what things to look out for there.
So without further ado, you know, we went into, you know, where rates at this week in the mortgage world.
Again, those averages are in the low sixes, upper fives, depending on your 30 or 15 year, what type of loan program you want.
With that being said, outlook on 2026 is really good.
The housing market is coming in and we're
regardless of how you feel about this administration.
Not here to talk politics, but what I will tell you is is this administration is taking more of an effort to help fix the housing market than I've seen in a long time.
Now, I'm not saying that I support everything.
I'm not, I don't talk politics, but what I will say is in this particular case, they really are helpful when it comes to housing and seeing what we can do to
actually push that needle forward.
We've been at a housing shortage nationally for years.
And just moving that needle to making sure people can be home owners is huge.
And part of that was bringing those rates down.
Why?
Well, yes, it makes it more affordable.
But the other piece of that that people aren't talking about is you've got a ton of sellers or a ton of home owners out there right now.
sitting at an interest rate of two, three, four percent.
And when rates are at seven or eight percent, there's zero incentive for them to move, zero incentive for them to want to put their house on the market and sell.
It's not attractive, double, triple the payment.
Why would they?
So when the rates come down, then when they purchase, it becomes more attractive to buy.
If we're in the fives, that makes people sitting on the sidelines who maybe want to move, but just
we're not willing to at those interest rates, it now brings them to the sidelines to list their property, which means all of the buyers that we have now have an incentive to come in and buy.
The sellers are incentivized, if you will, to sell because then when they buy, rates are down.
So that's the method to the madness, as lame as terms as I can make it.
And that's why this year looks different than last year.
And we're excited about that.
If you're in the industry, you're excited about that.
You love seeing this.
It gives clarity to people and it also gives them an opportunity to be homeowners and to get into the market.
We've got a lot of new construction sitting out there, you guys.
And I'm telling you, these builders are willing to work with buyers right now and getting them in.
They don't want to sit on inventory all winter long.
That does no good for anyone.
They've got to keep the heat on.
They've got to keep things plowed if they want to sell them so that they can keep showing them things like that.
So new construction out there is really attractive.
And, you know, builders are constantly thinking of new ways to make home or building more affordable.
You might see some more, you know, maybe some smaller homes, but new construction, you know, maybe 1,200, 1,300 square feet instead of these, you know, 2,500 square foot monstrosity of homes with like six tall garages.
I know I'm exaggerating there, but I feel like at one point that's all you could buy.
They're building more, you know, workflow homes for people to get into where they can actually buy and afford to buy.
So that's awesome.
We're seeing a lot more condos in our market, town homes coming into play.
Huge.
I just sat down with a couple last evening and they were interested in...
increasing their home size, but not so much increasing their payment, which is a lot of Americans out there right now.
And with the equity they have from the home that they've owned for the last six years, we're able to look at a few different options for them, rearrange some debts, things like that to make that more affordable.
So that's pretty exciting.
And, you know, there were upwards of 20 homes available in their price point right now that are not sold.
So for a buyer right now,
I don't know of another time in the recent history, so let's talk recent history five years or less, where you've been able to, as a buyer, really sit down and take your time.
negotiate a little bit, have your inspections, ask for a home inspection, ask for an appraisal inspection, even ask for a financing contingency or a seller credit.
You guys, I bet you 40% of my loans right now have seller credits, so that's really exciting to see, making it more affordable for people to get into homes.
There's a lot of people out there that can afford homes financially on paper, but maybe just don't have all the down payment plus the closing cost.
We talked about that a couple weeks ago.
And now with seller credits being a part of it and or down payment assistance, those things can happen.
So keep your eye out on that.
So the outlook for 2026 is great.
The one thing I want to caution on is if you wait too long and rates come down too far,
You're going to drive a whole new world of buyers in and that is a potentially going to push prices back up.
So I'm looking at the very short term right now, November to February.
Rates are lower than they've been in a year or two for sure a year, possibly two in some in some parts of those years.
They are affordable.
There's a lot of down payment assistance options and there's just
a lot of really great lending guidelines that can help you.
So now is definitely a time if you've been on the sidelines or if you're thinking about getting into the market, get into the market, sit down, talk with a lender, get your ducks in a row and we'll help you.
If you don't have a real estate agent, a good one, we'll help you find one.
If you want a second opinion, I want to be that person.
And you know, we want to go through, we want 2026 to be your year.
Maybe we can even do it by the end of 2025.
It's possible.
There is enough time, even though it's the end of October already, which is crazy.
So yes, definitely some things we want to talk to you about there when it comes to buying.
Again, prices are really, really pretty good right now.
Prices are not going to come down.
The likelihood of them coming down is very minimal.
Um, likelihood of them going up again, if rates get lower,
is more of a factor we need to look at.
So that's why, again, right now, and especially in the winter months, we've talked about it before, we'll continue to talk about it through this winter, perfect time to get in and buy.
So yes, with that being said, demand, demand is there.
Every price point is a little bit different than the next.
So your price point to two or 250,000 looks different to three, 350,000.
3-3-50 looks different than 4-4-50 and so on.
And yes, you're always gonna have that one-off friend that you know who bought with cash or was up against 20 offers.
Just depends on how it's being priced, how it's being listed.
But I cannot stress enough working with a real estate agent who is known, trusted, a great negotiator, getting you into that home, working with their team, huge.
Here's also a reason why working with a lender who understands what they're doing is so huge.
And yes, I do have a lot of time in this.
I've seen a lot of things.
Our company, for example, Point Mortgage, super competitive on rates, super competitive on fees.
We are working our way up to being a local leader.
With that being said, the one thing that we have that a lot of other companies and locally don't, and I'm up against it every day,
is knowledge of guidelines, underwriting guidelines.
That will get you through.
That will get you over what you need to do.
I have been cleaning up so many loans from loan officers over promising and under delivering for clients and or promising really low rates without explaining all the fees that they're tacking on.
So part of this show, we're going to talk about that.
And I really want to delve into that because it's important that
the consumer yourself out there who's thinking about this really understands and is educated on it because there is so much more than just a lower interest rate.
I understand that that brings you in and you want to see that but sometimes the lower interest rate will cost you
way more in the end and really not be financially, you know, responsible or the financial benefit to you.
And so that's why it's super important to talk about.
I want to have that hard discussion today.
I want to bring it to you guys.
You know me.
I'm going to bring it to you as real as I possibly can and as basic as I can so that you can understand it.
Don't forget you have any questions.
Text line 920-606-1156.
So catch us right after this short break, 97.9 FM, 1590 AM on the Always On Point podcast.
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Back here with the Always On Point podcast, Kristen Ambrose with Point Mortgage here with 97.9 FM 1590 AM WGBW hosted by the Civic Media app.
So excited to be here today.
We started talking about why it's so important to work with a loan officer who truly understands what they're doing.
If you worked for, or if you were going to a doctor and they promised you that in a week, you'd feel better, but you didn't.
Would you go back to them or would you seek a second opinion?
It's no different than, you know, your finances.
If you worked with a CPA who promised you that they would make money on your money and you weren't seeing that, would you keep going back to them or would you get a second opinion?
Loan officers.
Loan officers right now, over promising and under delivering is a really big thing.
They're over promising and under delivering in two areas.
One, they're promising really low interest rates without telling you the amount of fees they're gonna charge you to get that rate.
Two, they are over promising that they will get your loan closed without knowing the guidelines.
And that could be detrimental to you getting the loan.
Every month right now.
I'm helping somewhere between three and five People get into homes that loan officers drop the ball on them on I and that's just locally.
I wish it wasn't that big of a number I'm always happy to do the second opinion and to bring them in and see what's going on and want to give you a couple of opinions or a couple like, you know thoughts on that of what what we're working with so
One of them, and I did a short on this on my YouTube page, but Sandpoint Wells.
This is just a prime example of, you know, I had a real estate agent who called me locally and said, you know, my borrowers are going to buy a home with a Sandpoint.
Well, do you do those?
Yeah, we absolutely do.
The borrowers, we already had them pre-approved, conventional loan, they're putting money down, not that that mattered, but the conventional loan was a big part of it.
As long as that Sandpoint Well is compliant,
The well water passes as safe and everything is good.
No issues there at all.
However, government financing, VA, FHA, USDA, not okay with SamPoint Well.
And as a lender, it's my job to know that.
So crazy enough within the same week that a real estate agent called me just to make sure she was putting in an offer for her clients.
I was doing the lending that a SamPoint Well would be okay.
Another realtor called me and said, Kristen, I gotta pick your brain.
I have a loan officer right now that promised me that a standpoint well with FHA would be okay.
And now in the 11th hour, they're telling me that it's not.
The loan officer's not taking any responsibility for it, of course, which happens all the time.
It's always somebody else's fault.
But now we're a week out from closing.
And now that the appraisal's in, it shows the standpoint well.
Now the financing cannot be done because the underwriter has to follow the guidelines.
The underwriter knew that the Sandpoint Well couldn't be done, but the underwriter didn't know that it had a Sandpoint Well until the appraisal comes in.
That's when they verify it.
That's their job to verify it within that appraisal.
Once closing, once not.
I wished I would have been able to tell that real estate agent and his borrower
upfront that that didn't work because now that buyer is out an appraisal fee.
Probably we'll get his earnest money back because the financing fell through.
However, if he waived his financing rights, that would not be the case.
So thankfully, he had a real estate agent who's going to watch his back on that and take care of him.
But the point of the matter is, is he was out fees.
He had inspections, well inspections that he paid for.
Like I said, an appraisal that he paid for on a loan that never could have been done in the first place with the type of financing he needed.
Knowing that upfront is massive.
That interest rate that that loan officer could have promised could have been the lowest in the country, but it didn't matter because he's not going to the closing table because he over promised a loan that he could not deliver on.
That's why it's so important to work with a loan officer who truly understands
guidelines and everything that's into what those guidelines needs, the loan programs they're delivering on to interest rate.
I thoroughly understand interest rate is so important.
However, at what cost?
At what cost is it so important?
So this week, I did a rate call with some clients.
We went over their particular situation.
They're an adjustable rate mortgage.
They want to get into a fixed rate loan.
I love that conversation because fixed rates are so much more secure than an adjustable rate mortgage.
And their adjustable rate mortgage was at seven and a quarter percent.
That wasn't even a good buy.
That was a really high rate.
So somehow that bank talked them into doing an adjustable rate mortgage at that.
They're not even a year in and they're like, you know what, Kristen, we want to do a 30 year fixed.
We talked it all out.
The conversation that we had, if they bought a half a point,
They got a much better interest rate, saving them $93,000 of interest on a half a point.
Yes, they had a larger loan amount, so that helped.
Then they said, well, what if we buy a full point?
That full point was only going to offer another 8th percent interest rate lower.
That was not a better deal for them.
The better deal for them was to prepay their own mortgage to save that interest.
So understanding that and knowing that, and I try to educate clients on that, because listen, it's your money.
If you're buying the interest rate, it's your money.
You're paying the interest, it's your money.
It's not my, my job is to educate you on what's best for you and your loan.
Not tell you what I think is best and then not tell you the small print with, yes, this is going to cost you a lot of money.
Don't worry, it's nothing out of pocket.
We'll just roll it into the loan.
That's still costing you money.
So not only are you paying fees, rolling into the loan, you're paying interest on those fees, you're rolling into the loan.
So really important,
to have a loan officer who's going to walk you through step by step and not just tell you what you should do, but explain it to you, educate you, go through all of that.
When we come back, I've got a really great equity story I want to share with you too.
So stick around 97.9 FM, 1590 AM on the Always On Point podcast here with Kristen Amboz from Point
Mortgage.
Damn things, I think it's one of those deja vu things All I'm trying is trying to tell me something
Hey everybody and welcome back to the Always On Podcast, Always On Point podcast with Kristen Amos here, 97.9 FM, 1590 AM, WGBW partnered with us.
We are talking about equity and interest rates, right?
Hot topic, mortgages, stuff everybody wants to know about or at least want to learn about I think.
So anyway, so we're talking about how interest rates can cost you a lot of money and it's true.
They can.
So you want to make sure when you are shopping for interest rate, you understand the cost of what that rate is going to be.
Fine print will always tell you, you always want to make sure that your loan is locked in, but you understand what the origination fee is for that.
So the origination fee is going to be huge.
Again, when you're talking with your loan officer, make sure when you're being quoted a rate, you understand all the depths that go into that rate.
There's so much that go into rate, credit score, equity,
down payment is what I mean by that loan to value equity as well as loan amount.
Your loan amount does affect your interest rate.
So we want to make sure we have all of that.
If you have a lender that's just spouting out a rate, get a second opinion, red flag.
Equity, equity is the other big thing we want to talk about today because equity is such a huge discussion in America.
There is more equity in America right now than any time in our near future or
are near past, I guess I would say, not future, but past.
And with that being said, people want to understand how they can use their equity.
A lot of people are taking out second mortgages, even just to sit on in case something happens, or taking out a home equity loan to add more value to their house, put on new roofs, switch out the mechanicals, the really important stuff, the expensive stuff.
Those are great ways to add value to your home.
Put them in.
Some are even adding additions onto their homes, things like that, depending on how much equity they have.
The other way people are using equity right now specific to me in the current lending status is twofold, paying off debt as well as purchasing a new home.
So let's start with paying off debt.
Working with a lot of clients doing what we call cash out refinances.
Especially if you bought the last two years, you have more equity and you probably have a little bit of a higher interest rate.
So rates are down.
So we can probably get you a little bit of a better interest rate as well as utilizing your equity to pay off some of that unsecured debt.
Like I said, in America, there's close to $7 trillion of unsecured debt.
Now that's all types of unsecured debt.
three to four trillion of that is specific to credit card debt.
There's a lot of different sources out there.
Each one of them is a little bit different than that.
So that's why I'm leaving it kind of ambiguous to that three to four trillion dollars, but a lot.
With that being said, cash out refinances.
Let's say you have credit card debt right now, and it's not odd.
Do not feel bad about yourselves to have somewhere between 40 and $60,000 of credit card debt.
Not because you overspent your life away.
But because you had a couple bad things happen in the last few years and compounded interest, interest rates on those credit cards were probably close to 25, 30%.
It does not take long to double or triple the amount of your balance.
If you spent 2000, you probably go six.
just off of interest.
Doesn't mean that you overspent 6,000 and went on an extravagant vacation that you had no business taking.
Bad things happen to good people all the time, especially when it comes to finances.
It doesn't mean you have to punish yourself forever by living in that.
So what a lot of people are doing in the conversations we're having is what does it look like to take out a home equity loan and pay those debts off or refinance the entire mortgage to a lower interest rate
paying off those credit cards and getting a fresh start, sleeping at night, knowing that you just have a fresh start.
And maybe now your monthly payment is only up $200 a month versus $800 or $900 you're paying an interest on credit cards that you are just not getting ahead from.
There's no budge.
That's what your equity can be used for.
Use it to your benefit you would use it to benefit to to get you know to instead of paying cash for those upgrades on the home Use it to help yourself out.
You always have to have if you're gonna cash out on your mortgage You always have to have 20% equity anyway They don't allow it for over 20% if you're doing a cash out refinance home equity lines You can go up to 90% but if you're doing a cash out refinance that means you still have 20% equity in yours in your in your home That's huge.
Don't feel bad about that The second way we're doing it is
Let's say you've outgrown your home.
Kids, kids are getting older, kids are growing, just a lot of stuff going on, you need more space.
You have $120,000 of equity in your home.
Maybe you only have a little bit of debt.
I'll give you an example this week, talk to a client and they're gonna earn, if they sell their home, they're gonna earn about $125,000 of equity proceeds from their home.
looking at purchasing a new home.
We ran the numbers two ways.
One way, if they put the full $125,000 down on the new house, because that's what their immediate thought was they should do.
So, okay, we want to do that.
They were only willing to go up about $300 in payment.
But if we put the whole $125,000 down on a $330,000 property, their payment actually went up $400 a month.
So it was making them a little uncomfortable.
Now we tried option two.
What we did was we reworked the numbers and put $100,000 down on that same $330,000 property.
However, we paid off a vehicle and the vehicle interest rate was the same or higher than what the housing interest rate was.
So horse apiece, paid off the $20,000 vehicle.
That was a $450 payment.
Put $100,000 instead of $120,000 down on the house and they're
overall monthly debt only went up $100.
So now they don't have a car payment.
They only have a house payment.
And instead of feeling like between their current house at 1250 and their car at 450.
So that's, you know, 17, 1800, their payment was just going to be over $1800 a month.
So it was really only $100 more.
They were going to feel that to them was super affordable.
So
we used some of their proceeds to pay off debt as well as had a large down payment on their house, making it more, they felt more comfortable doing that versus a $15, $1600 house payment plus their $450 car payment.
So they were going up more.
That makes any sense.
If you're following me, it understands, but what I'm saying and just what I'm saying is that sometimes we can rework the same amount of money you have in order for it to benefit your net.
financials that you pay out your net liabilities at the end of the month.
That's why it's so important again to work with somebody who's going to utilize your money in ways to help you understand what's the best way to use it.
Because the typical consumer out there doesn't know that these things can be done and doesn't understand that a mortgage loan officer should essentially be somewhat of a financial advisor to you too.
not a licensed financial advisor, not trading money on the stock market, but actually advising you how to best use your money on a month-to-month basis.
That feels good to you, so you get what you want, but we're not overextending you, putting you in a position where you get into that new home feeling very comfortable.
So one, we can cash out refinance, saving you a lot of money per month.
There was another client I talked to this week that we are refinancing or taking their payment down or their interest down a half a percent.
Taking their payment down.
We were saving her $847 a month in interest off of her credit cards.
We're rolling those credit cards in $847 net.
We're putting back in her family's pocket every month to live by rolling those credit cards in and she's getting half percent better interest rate on the overall.
The total change in her mortgage per month, $150.
So technically, she would be saving $1,000 a month, but because the 150 extra in her mortgage payment, it's 847.
There's some change in there.
That's massive.
Could you imagine what you could do with getting rid of those credit card debt, giving yourself a massive raise of $8 to $900 a month using your equity, staying in your home, sleeping at night?
I mean, these are just real life stories that we talk about.
And that was just this past week, you guys, of stories I'm talking to clients about every day.
So I really am offering it to you.
If you want to have that conversation, call me 920-606-1156.
Text me.
call me, I want to have those conversations with you because I want you to feel comfortable and I don't ever want you to call me or call into the show or anything like that and feel like you can't tell your real life story.
Again, bad things happen to good people.
I have made it my life's mission to help people understand their financial situation and to get better and better, to build their own wealth.
If you're building your own wealth and your own credit score, you are feeling so confident in what you're doing.
our community gets better, our community grows, life is better, right?
Overall, we feel better about what we're doing on a day to day.
Now you can put a little bit more money away in retirement.
Now you can maybe buy that life insurance policy you don't have.
Maybe it's just putting a few extra groceries on your table.
I'm not kidding you, for some families I'm talking to, it's as little as that.
And if I can help you do that, then my license that I have every year
and the knowledge that I've got is being put to good use and I want it to be put to a good use.
So I want to have that conversation with you again, 920-606-1156.
Call me, text me, we'll get a schedule on the calendar and get talking to you so that we can help you out.
Next, coming up, just want to talk about what does mortgage in general do
What can we look for?
What are those things?
You know, there's so many opportunities out there.
People don't realize that, you know, my company alone works with over 30 investors.
Fannie Mae, Freddie Mac included in that, but also other investors outside of that.
So the amount of loan programs we have is
massive.
There's something to fit every bucket.
Sometimes people think when they walk into their local credit union, it's the best spot they're going to be.
There's a place for credit unions.
There's no doubt about it.
And the mortgage side, they are very limited, limited to a few loan products, your local banks, limited to a few loan products.
The reason why is because they have to be good at mortgage, boat loans, car loans,
personal loans, secured loans, unsecured loans, credit cards, you name it, right?
Home equity loans, land loans, they've got it all.
There's no way they can do all of it.
People always ask, Kristin, what's the difference between you and my bank?
My answer is, is because I'm a mortgage only bank.
I'm not a depository.
I'm a mortgage only bank, which means I have so many loan programs and probably something that fits
Everyone out there we go down to lower credit scores.
There's answers for that down payment assistance.
There's answers for that, you know, no down payment The the other part of it is is that when you call and say, you know, what's your interest rate today?
That is a really big ambiguous question because
of the fact that we have so many loan programs out there.
We have so many different rates.
I want to talk to you a little bit more and I want to understand your situation so I can best qualify you for what you are going to need in your mortgage.
Mortgages are extremely personal and are different from person to person.
Not one mortgage fits the same two people.
Not one mortgage I write is exactly the same as the next.
And our team has had the ability to write up
over 400 loans in a year, meaning we see a lot.
We work with a lot of different people.
When you do that kind of volume for units of working with clients and that kind of volume, you really learn a lot.
You learn a lot of guidelines.
You learn what you can promise and what you can deliver on.
And that's what our team is here to do.
And our job is to know mortgage and mortgage only.
I can't help you with a car loan, I can't help you with an unscured loan, and I can't help you with a credit card, but I sure as heck can walk you through the mortgage process as point blank and clearly as possible.
So we come back, we'll talk a little bit more about that.
Thank you for joining me here.
Continue to stay always on Point Podcast, 97.9 FM, 1590 AM, WGBW.
You're just too good to be true Can't take my eyes off of you You'd be like heaven to touch I wanna hold you so much At long last love has arrived And I thank God I'm alive You're just too good to be true Can't take my eyes off of you
You're listening to Civic Media.
Find the latest news, information, and archives of all your favorite shows on the Civic Media website, civicmedia.us.
Welcome back to the Always On Point podcast here with Kristen Ambos from Point Mortgage.
And I'm partnered here with 97.9 FM 1590 AM WGBW and we're doing what we do best talking all things mortgage here today.
Thank you so much for taking this time.
If you are just tuning in, I invite you back to my YouTube page with.
It's just Kristen Ambo's.
Otherwise, our Always On Point podcast can be found on any of the podcast platforms, Spotify, Apple podcasts.
You name it, you can find it there.
So excited to be able to share this time and this information with you because mortgages, I jokingly, but have always said are about as clear as mud.
The typical
you know, consumer doesn't understand them, nor should they because they regulate us to the hilt, making it really difficult to understand.
So my job here is to break it down as simple as I possibly can.
I enjoy doing that.
But if there's ever a question you want a specific answer on, let me know.
And I'm happy to get that into the radio, you know, airwaves for you.
And if you have the question, you know, there's a lot more out there that do.
So with that being said today, we're really spending our time talking about interest rates.
as well as home equity and what's the best way to use home equity for you.
The other part of that that, you know, I want to talk about with the equity, all the different mortgage programs we have.
The reason why I bring that up is because there's so many different ways to buy a home.
Don't think that you can't buy a home.
Our job is to help you find a way to buy that home.
And if you can't do it right now, our job is to educate you on what we need to do to get you there.
And, you know, we love working with people on that.
I've got a team.
We work together.
Part of the reason why we have a team is because mortgages move fast these days.
We're talking closings, you know, in anywhere from two to four weeks.
21 days on average is what our team is right now from, you know, except to offer to closing, which means we have to have all hands on deck to be as efficient as we possibly can be.
We've been together for a long time.
The average in our team
that we've been a part of I think is as 12 years in the mortgage world.
I myself am in my 24th year so leading the team, I help wherever I can and my job is to know guidelines inside, outside, upside down with these loan programs to make sure that if I tell you you're getting a pre-approval that you're going to the closing table and I hold my word to that.
As best I can, the only way you wouldn't is if something happened outside of our control, maybe you lost a job.
We couldn't control that.
Maybe the appraisal didn't come in.
Can't always control that either, but we can control our controllables and that's understanding and knowing guidelines, getting you through.
So when I put a pre-approval out there,
I expect that we're going to the closing table and we will go to the closing table and do everything I can to get there.
And I want to take any client out there, anyone who wants to be a homeowner, who truly wants to be a homeowner, deserves to be a homeowner and I want to get you there.
So with that being said, let's build equity.
Let's work on that.
That equity is wealth.
And right now, sources that are out there are stating that if you are a renter,
over the course of the first five years of renting, you're most likely negative $66,000.
I know that's a hard number to hear, but that's a lot.
And that's typically because you're putting, you're paying that rent, right?
And it's not going anywhere to help you.
You're aligning somebody else's pocket with it.
If you are a homeowner in the first five years on an average home price of $150 to $200,000, after five years, your net value is somewhere around $166,000.
net profit.
That doesn't mean that you have it in cash and hand, but what that does mean is there's between what you're paying in your payment to pay that equity down, also with the appreciation that the houses have.
So you're paying it down.
It's also appreciating on its own.
There's a spread there.
And that over the last few years, obviously has been a lot, but your compounded interest with that, with what you're saving is a net worth of
in the green, you know, positive $166,000.
Who would want that, right?
There's a lot of, that's a big spread.
And so we want to make sure that you are doing everything you can to set your future up right.
We've closed loans this year.
Anyone as early as the age of 19, all the way working with the client right now in their early 70s.
And yes, you can take out a 30 year mortgage in your 70s.
We do not discriminate on age.
So,
There you have it.
We can absolutely help you.
So there's no age we won't work with.
There's no minimum down payment we won't work with.
And yes, there is a minimum credit score that we have to have in order to lend, but that doesn't mean if you have lower than that, that we won't work with you to get to the credit score you need in order to lend and get you into a home.
So if any of those people are you out there right now,
please give us a call 920-606-1156.
Shoot us a text at the same number.
We want to make sure we're answering your call and we're helping you any way we can.
Part of this radio show and podcast is to make sure we are educating you.
We're getting the good word out there on how mortgages can be very attainable to anyone who wants one out there, anyone who wants to be a homeowner, because again, a mortgage is the money that you use to buy a house.
That being said, we know a lot of great real estate agents, a lot of good insurance people.
We want to be the person, we want to be the person you go to, your go-to person to put you in the right hands, making sure that you have the best experience to find that home and to get pre-approved, to find the home, to write the offer, get it negotiated to you, close it, you live in it and sit back in.
acquire the wealth that you deserve with the home equity.
So thank you again, you guys, so much for joining me today.
There's so much more that we're gonna pack in.
Please join me every Sunday at 10 a.m.
here right on the Civic Media app, 97.9 FM, 1590 a.m.
WGBW.
And if you missed a Sunday, you can find us on any podcast platform with the Always On Point podcast hosted by Kristen Amvos.
You guys have a great day.
We'll catch you next week.
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