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Today we talked about our New EMD Guarantee Program – Compete in Today’s Crazy Market!
What is an EMD Guarantee? When you open escrow/title depending on the state where you are purchasing, you will likely wire money to show the seller that you have every intention of buying the home. This wire is called your earnest money deposit.
Most contracts will give you a contingency time frame to get your financing in order or better known as your loan contingency. If you can write NO LOAN CONTINGENCY, the seller will take you more seriously.
We have come up with a way that you can waive your loan contingency and close in as little as 5 business days!
Watch today’s show and give us a call if you would like to get your pre-approval started. 844-935-3634!
Want to learn more or talk with one of us today? Give us a call, we’d be happy to discuss this loan program with you. 844-935-3634
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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4/6/2022
USDA home loans are amazing! Today we had David Corwin, Deputy Director with the USDA on our show to talk about eligibility and the benefits of a USDA home loan.
Did you know:
- You can buy a home using a USDA home loan with zero down payment
- They work off of the appraised value, not the purchase price which means that you could potentially finance more than what you bought the home for.
- The income limits are 115% of the median income in the area where you will purchase (this is quite generous). 67% of households in the US will qualify
- 92% of the homes in the US are within USDA approved rural areas
Want to learn more or talk with one of us today? Give us a call, we’d be happy to discuss this loan program with you. 844-935-3634
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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4/4/2022
Today we talked about VA home loans. If you are a vet and you want to purchase or refinance, you have more options available to you then most other loan programs. From zero down payment to taking cash out at almost 100% of your property value, you have earned it.
VA home loans are also much more lenient with credit scores and debt ratios making it easier to qualify for the loan. If you haven’t reached out to see if it is possible for you, now is the time!
Give us a call today, we’d be happy to speak with you about your options and get you pre-approved for a new home purchase or refinance of your existing residence.
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
Podcast: Play in new window | Download (Duration: 56:57 — 52.3MB) | Embed
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3/28/2022
Today we talked about the changes that were announced by Experian, Equifax, and Transunion. The credit bureaus have agreed to change what is reported when it comes to medical collections. In this episode we discuss the three changes that will occur between between July 2022 and the beginning of 2023. If you have medical collections on your credit report you have good news in store. You should see a bump to your credit score once all of the changes are rolled out.
George Hartmann with Credit Repair in 30 gave us all of the details about those upcoming changes as well as additional tips and advice. If you want to contact George to discuss your own credit and ways to improve your score, you can contact him at creditrepairin30.com
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
Podcast: Play in new window | Download (Duration: 56:54 — 52.2MB) | Embed
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3/24/2022
Today’s episode was filled with emotion. We have all finally come to realize and must embrace that our current environment has changed. Over the last 10 years we have for the most part been on the down elevator in the rate department. Starting in the middle of 2021, interest rates began to climb very slowly. By January of 2022 it was evident that the rates were going to continue to push up on that rate escalator. As of March 1, we were barreling forward from slow steady upward climb to a high speed elevator in downtown.
Understanding that this is the new future, and preparing for additional rate hikes and higher mortgage interest rates by year end, I thought that it was the time to start looking at what alternatives are available to keep housing prices affordable, allow for current homeowners to take cash out of their homes without a huge increase over their current payment today. This pushed me to start looking at old programs that were part of daily life in loan origination back in the late 1990’s and early 2000’s.
Adjustable rate mortgages used to be one of the options that were presented to every client during every consultation. With interest rates as low as they have been over the last few years, those programs stopped making their way onto the options list. At a time where interest rates start to hit numbers that can become a challenging, it is important to introduce how they work, how long that they are locked in for, and what happens after the initial lock period is expired.
Additionally, most consumers have not heard of 1-1, 2-1, and 3-1 buydowns. Don’t confuse a buy down with discount points. Discount points would buy your rate down for the term of the loan. In general if you pay 1PT (1% of your loan amount) you can lower the market rate by about .25%. With a buy down, think of it as a start rate. You get a lower interest rate for an introductory period of time. In the 1-1 buy down, you would reduce your rate by 1% for the first year and then adjust to the note rate for the remaining term of the 30 year fixed. For example, if today’s rate is 5%, your first year you will make a payment based on 4%. The 2/1 buy down, using the same example of market rate being 5% would begin at 3% the first year, 4% the second year, and 5% being the rate for the remaining 28 years. The 3/1 buy down following the same pattern but beginning 3% lower than the market rate today.
The buydown program is a great fit for someone who knows that their income is lower today then where it will be in the future. Wondering if this is something that would work well for you? Consider where you expect your income to be by the time that the note has hit is full rate for the remaining term. Did you just start a job where you will get bonus income but it hasn’t started yet. At a lower hourly rate during a probationary period but you know that your annual raises will bring your income up to a point that the future payment will not be an issue. This could be a great program for you.
The last piece of this show included a solution for those of you who have an interest rate on your current mortgage that is so low that you hate to disturb it, but you know that you need to pull some cash out? Thought about a HELOC but worried about where the payment will be after all of the federal reserve rate hikes expected this year and next? Home improvements and debt consolidation don’t typically work on your schedule, but they need to take place. Our blended rate calculator will do the math for you. It’s not up to me or my team to convince you that it’s a good idea to refinance your home, but the match of the calculator will show you what you are paying today as an average between all your monthly debts. This will help you to feel more comfortable losing that rate that you currently have and moving forward with the debt consolidation or improvements that you have been considering.
This was a great show jam packed with a ton of education and programs that you probably didn’t know exist.
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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The Federal Reserve announced today that they will be increasing the Federal Reserve Prime Rate, also known as the Fed Funds Rate, but .25%. They expect to increase the interest rate by .25% every 6 weeks until they end the year at a total rate of 1.9. We started off the year at .05 where we have been sitting since April 2020. Prior to March of 2020 the Fed Funds Rate was 1.58.
Do you want to understand what this all means to you? How do we expect the future of the real estate market and mortgage rates respond?
Additionally on this show, we brought in Michael Mazure with United Capital Group. Michael talked about Hard Money Loans and the loan scenarios that would benefit from hard money lending.
This was a great show, a little long, but it had a ton of great content!
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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3/9/2022
Inflation Inflation Inflation! Are you tired of hearing that word? Are you tired of feeling the pain of the gas prices, groceries, utilities, all soaring? Well, I can’t fix those things but I did give you some tips and tricks to try to reduce your monthly budget in this episode.
We all make decisions based on what we can afford. For example, when you buy a new car or a home, you go through your monthly debts, your take home income, your expenses on groceries, utilities, eating out, etc. If your income hasn’t changed from what it was when you made those large purchases, you may no longer be able to afford those payments that you signed up for.
The only option that you have is to try to bring down the expenses that you can control such as vacations, utilities, and eating out. How do you control your utilities? The gas company, power, water, trash, they aren’t going to give you a special deal because your struggling. Listen now to hear mom’s tips.
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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3/7/2022
Today’s title pretty much sums it up. Are you shopping for a new mortgage and you have been presented with an option for a lower interest rate if you pay points? Whether you are buying a house or considering refinancing, you may or may not want to buy points. The best way to understand why you may have to or why you may want or not want to, is to watch today’s episode!
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
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3/4/2022
1031 Exchange transactions are very common among investors who have rental properties and chose to sell. Unless you have occupied the property for a minimum of two years out of the last five years, you will pay capital gains. The only way to avoid capital gains is to roll over the proceeds to a new investment property. Rolling over the proceeds from one investment to another is called a 1031 Exchange.
There are many rules around the 1031 Exchange process. We touch on many of those rules today but to learn more or to get your questions answered on this topic, schedule yourself a free phone consultation. We will discuss your personal scenario with you and get you moving in the right direction.
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
Podcast: Play in new window | Download (Duration: 32:11 — 38.6MB) | Embed
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2/28/2022
Were you wondering if it is possible to take cash out of your home so that you can buy a new home, move, renovate, and then sell? Today I gave you 4 different options that are available to make that happen.
Check out the Mortgage Mom Radio online merch store! The beer mugs are insane! SHOP NOW
Book your free phone consultation today, BOOK NOW
We are LIVE on YOUTUBE every Monday and Wednesday @ 1PM PST. Interact with us LIVE while we record! Ask us your questions right in the comments.
Mortgage Mom Radio equips you with all the mortgage education that you could ask for right at your fingertips! Listen to our Podcast with hours of shows and topics, download our PHONE APP loaded with every mortgage tool that you could need, and finally, watch our HOMEBUYER WORKSHOP SERIES on YouTube!
Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926
