In episode eight of Real Estate Rescue, Cody Oakes interviews Beau White from Southern First Mortgage. Beau shares his journey into the mortgage lending business and discusses current trends and concerns in the real estate market. With the economy and interest rates being a topic of concern, Beau provides insights and expertise to help listeners navigate through these challenges. 

Tune in to gain valuable knowledge on mortgage lending and real estate investing.

TIMESTAMPS

[00:03:49] The Cycles of the Mortgage Industry.

[00:06:37] Real Estate Market Trends.

[00:10:38] Real Estate Market Fluctuations.

[00:16:06] 100% Financing and Private Mortgage Insurance (PMI).

[00:25:03] Real Estate Market Predictions.

[00:29:39] Speeding Up Loan Process.

In this episode, Cody Oakes with his guest, Beau White, delve into the challenges of maintaining competitiveness in the market while also understanding the state environment. They emphasize their business's commitment to being highly competitive in terms of rates and providing excellent service. However, they also stress the importance of comprehending the state environment. They acknowledge that every business has experienced ups and downs, making it a tumultuous journey.

Moreover, Cody and Beau highlight the impact of credit on various aspects of home buying, such as interest rates, homeowners insurance rates, and mortgage insurance rates. They stress the significance of credit in determining the structure of a mortgage and how it can affect the overall affordability of a home. They also encourage homebuyers to focus on their credit and understand how it can impact their ability to secure a favorable mortgage.

QUOTES

• “The whole notion is stay alive till 25, is what they're saying. Now, obviously, nobody can actually predict the market. It's all based on data and all the time, then they make the decision.” - Cody Oakes
• “All of that puts us in a strange position as a mortgage lender to be able to try to be as competitive as possible as far as rates are concerned, offering really good service, but at the same time, understand what's going on in the state environment.” - Beau White
• “But ideally as a home buyer, you really ought to focus on what your budget is for your monthly payment, what your budget is for cash to close, and really focus on that as your guide to be able to purchase a property that you want. Then eventually down the road, as we go through these cycles, there are opportunities to refinance, to pull cash out, to do debt consolidation, a lot of opportunities.” - Beau White
• “But as far as purchasing real estate, I feel like once these rates do come back down if you're not in the real estate, you don't own a home, it's going to be very, very difficult to be able to get to a house.” - Cody Oakes
• "Realistically, you've got to be very focused on credit because credit impacts interest rate, it impacts homeowners insurance rates, it impacts mortgage insurance rates." - Beau White

SOCIAL MEDIA LINKS

Cody Oakes

LinkedIn: https://www.linkedin.com/in/cody-oakes-69089bb7/

Beau White

Email: [email protected]

Mobile: 404-641-4131

LinkedIn: https://www.linkedin.com/in/beauwhitemortgage/

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Have any questions?

Visit Southern First Bank

https://www.southernfirst.com/contact/find-a-banker/beau-white

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WEBSITE:

Real Estate Rescue: https://www.realestaterescuepodcast.com/