With interest rates being the highest they have been in many years, Adjustable Rate Mortgages, or ARMs, are becoming more popular. There is a lot of stigma around ARMs due to the housing crash in 2008. In this episode, we are going to address some common concerns with ARMs and explain how they can be great resources for the right borrower. Listen to learn if an Adjustable Rate Mortgage could be right for you. Listen to this week’s show to learn more about: How the current 7% interest rate has increased the use of Adjustable Rate Mortgages. (2:19) How ARMs were a part of the problem in 2008. (4:30) What factors play into whether an ARM is recommended for a home buyer? (6:44) CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos, and info. Call: 484-352-4151.

With interest rates being the highest they have been in many years, Adjustable Rate Mortgages, or ARMs, are becoming more popular. There is a lot of stigma around ARMs due to the housing crash in 2008. In this episode, we are going to address some common concerns with ARMs and explain how they can be great resources for the right borrower. Listen to learn if an Adjustable Rate Mortgage could be right for you. Listen to this week’s show to learn more about: How the current 7% interest rate has increased the use of Adjustable Rate Mortgages. (2:19) How ARMs were a part of the problem in 2008. (4:30) What factors play into whether an ARM is recommended for a home buyer? (6:44) CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos, and info. Call: 484-352-4151.

Our current market has a lot of people seeking ways to save money. As the Feds work to bring inflation down, many are in anticipation of the interest rates eventually decreasing. Utilizing points has become increasingly more common and you may be wondering how effective they really are. In this episode, we will help you learn the fundamentals of points and what scenarios may (or may not) call for using them. Listen to this week’s show to learn more about: Is there a true reason for you to use points as a tool? (3:52) There are instances where using points doesn’t make sense. (6:03) There is no 'one size fits all' for when you’ll break even. (8:02) Points are significantly more common now than in typical markets. (9:06) CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151.

First-time homebuyers can easily get caught off guard by the homebuying process. It can be long, exhausting, and requires a lot of documentation. To get through the process from start to finish as smoothly as possible, it is important to know what to be prepared for, what to expect from a lender, and what kind of realtor you should connect with. In this episode, we cover all the basics to help you build a strong foundation going into the home-buying process. Listen to this week’s show to learn more about: Learn the questions you need to be able to answer and the paperwork you need to go through the pre-approval process. (2:47) Potential pitfalls that could cause issues getting you approved for a mortgage loan. (6:09) What you need to know about choosing a realtor to help you find the right home. (7:55) How we try to wrap up the process as smoothly as possible. (10:53)   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151.

With interest rates on the rise and home values still holding their values, we’ve been hearing the question a lot: “Is it still a good time to buy?” Let’s take a deeper look at this question and share some of the historical data to give you a better perspective of where we are. The real estate market is constantly changing, and it’s important to always be evaluating your options when it’s time to buy a home. Listen to this week’s show to learn more about: Why this is a great question to be asking right now. (2:25) Why it makes sense to buy now despite the rate increases. (5:01) The other benefits to buying over renting besides monthly payment. (9:51) Are home values out of reach right now? (12:10)   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151.

On this episode, Bill Litton will take you through the different services his team at CrossCountry Mortgage offer first-time homebuyers. About a third of the people we work with are doing this for the first time so we have a great idea of the needs you’ll be facing. Listen to this week’s show to learn more about: How we help educate homebuyers through every step of the process. (2:04) Our relationships with people in the community and how that local knowledge benefits someone during the mortgage process. (6:15) The specific tools that we provide someone to make the mortgage process easier and how we service them after closing. (8:03) The different loan products that we offer and how we determine what fits you best. (10:34)   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151. Visit CrossCountry Mortgage on the web.

A lot of people are worried that the housing market has been slowing down. But houses are still selling quickly and the market is still very strong. Rates are higher, but it still makes sense to buy.  Mortgages are still cheaper than rent on average and there are various other benefits to owning a home. On today’s episode, we’ll explore 6 major reasons you should consider buying. We’ll also answer two mailbag questions on mortgage insurance and mortgage companies. Listen to this week’s show to learn more about: Paying toward a mortgage builds your equity and savings cushion. (2:15) Your home will appreciate in value over time. (7:36) Your mortgage is stable and will likely be the same payment over time. (11:15) Enjoyed the episode? Make sure to subscribe and share with your friends and family.   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151. Visit LendUS® on the web.

Let’s open up the mailbag on today’s show to answer some questions we have from potential home buyers in this high-interest rate market. What you’ll learn on this episode: “A friend told me I shouldn’t buy a home unless I can put 20% down. Is this wise advice?” (2:58) “Can closing costs be higher at one lender and lower at another?” (5:53) “Do you recommend people shop around for better closing costs?” (7:23) “What are the difference between a mortgage loan from a broker and one from a bank?” (8:36) “What is mortgage insurance, how often do you have to pay it, can I avoid it?” (11:04) “What is the best type of loan out there?” (14:09) “What’s the difference between pre-approval and pre-qualification?” (16:57) If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151. Visit LendUS® on the web.

Interest rates are rising and it seems likely that they will continue to do so. Historically, rates are still not bad. But a jump from 2.5% to 6% is a big jump and it’s changing the housing market and the trends we are seeing. With inflation still very high, we should expect to see these higher rates for a while. So, what are some of the things you need to really consider in this higher rate market? If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.   TIMESTAMPS:  0:44 – What are we seeing in the market? 2:32 – Are rates the major concern? 3:33 – Will the market volatility stabilize? 4:23 – The affordability of houses 6:25 – Refinance opportunities in the future 8:32 – Considering closing costs 10:05 – Adjusting the downpayment 12:02 – Buying a house is still a good investment   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151. Visit LendUS® on the web.

With various changes in the market, many listeners have questions about the mortgage process and what they should expect in the coming weeks and months. On today’s episode, we’ll break down each question and the vital things you need to consider when looking for your next home. What you’ll learn on this episode: Sean is inheriting a home that has a mortgage on it. Will he be responsible for that mortgage immediately or does he need to take out his own mortgage on the property? (4:34) Dave’s been told to shop around for a mortgage. But won’t all mortgage rates be pretty similar? Just how big of a percentage difference is there? (6:05) Are there big differences between lenders? What can you expect from who? (8:27) Peter has a chunk of cash to put towards his home. Should he use it to wipe out his mortgage or towards home improvements, thus increasing the value? (10:17) If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.   CONTACT:  Schedule a time to meet with Bill here. Visit the Smart Mortgage Show website for more podcasts, videos and info. Call: 484-352-4151.