Ep#21 - Factors to Consider When Applying for a Mortgage: Eric Kimble

Ep#21 of the Get Above the Line podcast.
Our guest in today's video, Eric Kimble a mortgage expert! Eric will discuss the essential factors to consider when applying for a mortgage. We break it down into five key points, which we like to call the "scorecard":
1. Down Payment
2. Income Stability
3. Debt-to-Income Ratio
4. Credit Score
5. Collateral and Property Type
Throughout the conversation, we stress the importance of effective communication between clients, their real estate agents, and lenders. Agents must listen to their client's needs and preferences while educating them on the mortgage process.
We also address the misconception that a lower interest rate is always better. We advise clients to calculate the "recoverability" of refinancing, considering the costs and potential savings in interest rates.
Finally, we mention that people will always buy and sell homes despite fluctuating interest rates. The key is to look for opportunities in the market and not simply follow the herd. Working with knowledgeable professionals to make informed decisions about buying a home and securing a mortgage is essential.
Join us as we delve into these crucial mortgage factors and provide valuable insights to help you make informed decisions in your home-buying journey. Don't forget to like, share, and subscribe for more informative content on real estate and mortgages!
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Want to get a leg up on the hot housing market? Join Eric Kimball for a FREE Homebuyer Seminar this Saturday, February 24th at 11 AM.
Phone: [phone]
Email: [e-mail]
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