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Wednesday, October 13th, 2021

This week, Debbie brings in Loan Officer Larry Ehrlich aka “Mortgage Dad,” to talk about the current climate of Mortgage and Real-Estate. Below are the topics that they hit on in this episode:

• Debbie starts off the show by urging her audience to check out her YouTube videos which contains free information, especially with the latest video/segment of the Home Buying Workshop.
• Debbie and Larry discuss Loan Limits and guidelines constantly changing. Debbie says that the “word on the street” is that there will be the biggest jump in Loan Limits in the past 50 years. If that’s the case, Larry believes this will help first time buyers and people that want to refinance.
• They discuss the details of how this can help and or effect homeowners in high-cost areas, especially in California.
• They go on to talk about how Conventional Loans and Conforming Loans are more advantageous than Jumbo Loans, especially when people want to pull cash out for renovations, school for college, etc.
• Debbie suggests for clients to call in and schedule an appointment with her team, so they get the application going for the purpose of “being prepared.” In that way, when the Loan Limits come out, then all they must do is hit the submit button and the higher limit will be locked.
• They go on to talk about Appraisals and how the market is shifting. Debbie says that the most educational advice she can give at this time in relation to appraisals and the market is “DO NOT remove your appraisal contingency” for various reasons.
• Larry goes on to give examples on why. Larry says, “Get your application in right away, because it is never too early just to start.”
• Debbie and Larry both say that the value of your property right now is the highest it has ever been, therefore pulling cash out right now would be the best time to do so.

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Debbie Marcoux is licensed by the Department of Financial Institutions under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, ID – MLO 2080237926, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926