Gain Insight in the highly competitive SLO County Real Estate scene with the areas #1 Resource. With Interest rates going up at a pretty good clip many people who were in the home search are making the decision to head to the sidelines till things cool down. But how long could that take? If you are a regular listener of the SLO county real estate Podcast with Hal Sweasey you know the earlier you get in the market the quicker you build equity. With so many people bowing out of the game now might be the time to take advantage of less competition. Ermina Karim from Guaranteed Rate and Chad Van Till from Pacific Trust Mortgage join the crew to go over financing options that buyers have outside of the 30 year fixed mortgage that will help combat rising interest rates and give you the opportunity to get you in the house you want.
Show Notes
1:02 to 3:25 Meet the Mortgage Specialists. Ermina Karim from Guaranteed Rate and Chad Van Till from Pacific trust Mortgage.
3:26 to 9:51 Rising interest rates have been effecting how Mortgages are getting written and how these ARM’s and other creative ways of getting financing are great for most buyers especially compared to the 30-Year fixed since most people do not stay in their houses for longer than 10 years.
9:51 to 12:33 First time Home buyers need to find a lender that is going to know what the comfort levels are for the house and the corresponding payments.
12:33 to 13:21 Common myths that cause potential buyers to shy away from the dream of owning a home are what a good lender can get you past. Don’t be afraid of Mortgage Insurance and don’t think you are out of the game if you don’t have 20% to put down.
13:22 to 13:37 Being afraid of the Mortgage insurance can cost you in the long game, especially as interest rates continue to rise.
13:38 to 14:13 What are some other avenues people can take to get more secured lending?
14:14 to 16:35 ?ow scary is the Adjustable Rate options when people can still remember what happened in the mid 2000’s?
16:36 to 19:13 What about people with questionable credit scores or people who are self employed?
19:14 to 22:40 Creative ways to tackle mortgage insurance for those people who have good credit or can put together a strong down payment, that is not quite 20 percent.
For advice on anything you heard about on this podcast you can:
Contact Ermina Karim at Guaranteed Rate at 805-602-0248 or email at [email protected]
Or Chad Van Till at Pacific Trust Mortgage at 805-543-4422 or go to pacifictrustmortgage.com
If you are looking for experience and a team you can trust for your next Real Estate Transaction please visit halsweasey.com
CA DRE #01111911
860 Walnut Street Suite A, San Luis Obispo, CA, 93401
(805) 329-3247
[email protected]