Loans Elevated

On this episode of the Loans Elevated podcast, Broch brings us through why interest rates don’t always matter on a mortgage, and shares with us how sever clients refinanced and their interest rates went up.

 Broch talks about how one of his clients took a refinancing with a 1.25% higher interest rate than their current mortgage and a bump to $750/month repayments. But because their equity had increased and they combined their debts into their mortgage, they eliminated debts of $2800/month, freeing up $2050/month, which they reinvested into the mortgage, enabling them to pay off in 11 years and save $420,000

 Another example her shares is of someone who bought their house in 2007 at the peak, but they held and continued paying after the market slid, amortising their debt. After 5-7 years they could cash out with hundreds of thousands of dollars and it was a case of rinse and repeat from their. 

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🎙 Loans Elevated Podcast

Clear, strategic conversations on mortgages, real estate, and home financing — designed to help you make confident, informed decisions without the hype.

Hosted by Loans Elevated, presented by The Lassig Team at CrossCountry Mortgage.

🔗 Resources & links: https://lassigteam.com
📲 Follow us on Instagram & Facebook: @loanselevated

Hosts:
Broch Lassig - Branch Manager | NMLS 340314  
TJ Heidenreich - Sales Manager | NMLS 1802412  
Ryan King - Loan Officer | NMLS 1870771  
Branch NMLS 2048956

Equal Housing Opportunity.
All loans subject to underwriting approval. Certain restrictions may apply.

CrossCountry Mortgage, LLC | NMLS 3029  
www.nmlsconsumeraccess.org

This podcast is for educational purposes only and does not constitute financial, legal, or tax advice. Consult a qualified professional regarding your individual situation.

On this episode of the Loans Elevated Podcast, your host Broch takes you through extended rate locks and why you should pay attention to them.

An extended rate lock is when you can lock in your mortgage rate for a specified amount of time, like 6 months or a year for example, which guards you against rates which continue to climb.

Broch gives us an example of a 6 month rate lock, which costs you 1 point (1% of whatever your loan amount was). Last week, the market shifted after someone in the fed said something, causing the market to shift by 1.3 points in one day, meaning you come out ahead. In the past month, the market has worsened by 3 points, so it’s clear these locks can be useful. 

In another example, Broch shares your options of what you can do if you lock your rate and the rates begin to improve. You have the ability to cancel the lock and float the market for 30 days, and on the 31st day, you have the option to lock again. This does leave you exposed, however it can be beneficial if it goes your way, especially considering there’s no attachment to the original lock and no fee. 

A final option Broch gives us is float down. This means you keep your lock for the whole 6 months, but you have the ability to float down one time within 30 days of closing, meaning you get about 70% of the market gains.

Send us Fan Mail

🎙 Loans Elevated Podcast

Clear, strategic conversations on mortgages, real estate, and home financing — designed to help you make confident, informed decisions without the hype.

Hosted by Loans Elevated, presented by The Lassig Team at CrossCountry Mortgage.

🔗 Resources & links: https://lassigteam.com
📲 Follow us on Instagram & Facebook: @loanselevated

Hosts:
Broch Lassig - Branch Manager | NMLS 340314  
TJ Heidenreich - Sales Manager | NMLS 1802412  
Ryan King - Loan Officer | NMLS 1870771  
Branch NMLS 2048956

Equal Housing Opportunity.
All loans subject to underwriting approval. Certain restrictions may apply.

CrossCountry Mortgage, LLC | NMLS 3029  
www.nmlsconsumeraccess.org

This podcast is for educational purposes only and does not constitute financial, legal, or tax advice. Consult a qualified professional regarding your individual situation.

"I have a passion for helping people create wealth through home ownership."

Get to know your host Broch Lassig. Broch has won countless awards within his mortgage company, and is currently in the top 1% of Loan Officers nationwide. But he wasn't always there. Here a little bit about his story of who Broch is and why he got into the mortgage industry.

Our theme music is a selection of Eli Manning Skrazey Beats. This podcast was recorded, edited and published by Whitney Faith Media Marketing. For other Whitney Faith Media Marketing Productions check out @whitney.faith.lambert

Send us Fan Mail

🎙 Loans Elevated Podcast

Clear, strategic conversations on mortgages, real estate, and home financing — designed to help you make confident, informed decisions without the hype.

Hosted by Loans Elevated, presented by The Lassig Team at CrossCountry Mortgage.

🔗 Resources & links: https://lassigteam.com
📲 Follow us on Instagram & Facebook: @loanselevated

Hosts:
Broch Lassig - Branch Manager | NMLS 340314  
TJ Heidenreich - Sales Manager | NMLS 1802412  
Ryan King - Loan Officer | NMLS 1870771  
Branch NMLS 2048956

Equal Housing Opportunity.
All loans subject to underwriting approval. Certain restrictions may apply.

CrossCountry Mortgage, LLC | NMLS 3029  
www.nmlsconsumeraccess.org

This podcast is for educational purposes only and does not constitute financial, legal, or tax advice. Consult a qualified professional regarding your individual situation.