Nick Zwiebel, founder and owner of Aksarben Mortgage, discusses the current mortgage market landscape and how his brokerage differentiates itself by working with 20+ national and local lenders. With 23 years of industry experience, Zwiebel explains how today's balanced market—where homes sit for months rather than days—benefits buyers who can take time to make informed decisions. He addresses common misconceptions about mortgage rates, emphasizes the importance of factors beyond interest rates (property taxes, homeowners insurance, PMI), and provides guidance for first-time homebuyers navigating the complex purchase process.
Episode Highlights
00:02:15: Origin of "Aksarben" name—Nebraska spelled backwards—and company location in Omaha with seven licensed employees operating across seven states
00:05:30: Current mortgage market characterized as "balanced" compared to pre-COVID chaos, with homes sitting 2-3 months instead of receiving multiple offers within days
00:08:45: Explanation of broker advantage: working with multiple lenders with different guidelines allows qualification opportunities unavailable through traditional banks
00:12:20: Critical insight that monthly mortgage payment depends on more than interest rates—property taxes, homeowners insurance, and PMI significantly impact affordability
00:16:50: Common misconception that online mortgage rates apply to average borrowers; reality requires excellent credit, 25%+ down payment, and specific loan types
00:22:10: First-time homebuyer programs including low/no down payment options and grants that don't require repayment, contingent on income limits
00:26:40: Refinancing signals—even 0.5-0.75% rate reduction combined with PMI elimination can save $100-200+ monthly
00:31:15: Insurance challenges in Florida with carriers pulling out; state-funded programs available; Nebraska carriers still covering but with increased premiums
00:35:00: Critical pre-purchase step: obtain mortgage credit report early, as consumer credit scores differ significantly from mortgage company reports and affect qualification
Key Takeaways
The current buyer's market favors informed decision-making over rushed offers; take time to inspect homes and verify financial readiness before committing Monthly mortgage payments are determined by interest rate, property taxes, homeowners insurance, PMI, and HOA fees—focusing solely on interest rates provides incomplete financial planning Mortgage brokers accessing multiple lenders offer advantages over single-bank applications; different lenders have varying approval criteria and rate structures First-time homebuyers should consult mortgage professionals early to understand credit scores, income verification requirements, and available assistance programs before house hunting Refinancing opportunities arise not only from rate drops but from building equity to eliminate PMI; calculate break-even points based on closing costs and planned residency duration
Quotable Moments
"You don't pay rate, you pay payment. And what I mean by that, regardless of the rate, you got to pay attention to the other factors that go into your monthly mortgage payment, like property taxes, as we've seen, especially in Nebraska or Omaha, Nebraska taxes have gone up significantly in the last couple of years and homeowners insurance."
"Every single person that we deal with or work with their financial situation may be a little bit different than the perfect situation that's posted out on the internet. So always go to your local experts, which is a real estate agent and your loan officer."
"The biggest thing with Exarbon, we are a broker, so we work with about 20 national and local banks and mortgage lenders. And what a lot of people don't know is each bank and mortgage company have their own guidelines. Some banks are a little bit stricter than other banks."
"The sooner you can speak with a mortgage professional to find out about your financials and credit, the better off you'll be...the farther ahead that you can speak with a mortgage advisor to advise you of where you're currently at for your financial situation, what your goals are, and how to get there."
