Welcome to the very first episode of the Wealth Comes in a Variety of Forms podcast, where we highlight the many avenues of wealth, and help you to build yours. Whatever shape your money goals may take, we’re here to help you develop the tools to reach them, and more! Tune in to hear the difference between APRs and Interest Rate, why discount points are not a popular choice at the moment, and how the amortization schedule works. We discuss lock in rates, how you can pay for a longer one, why every company calls its fees something slightly different, and which questions to ask to find the best one. Next, we unpack how every family has a different strategy before diving into Debt to Income Ratios, and why it is so important to have a strategy when it comes to your refinancing or mortgage plan. We touch on inspections, appraisals, and whether it is important to know the estimated value of your home or not, before discussing the fact that having great credit can be even more important than having money. Matt weighs in on what he considers good credit, explains why your assets are relevant to lenders, and shares some tips for parents to help their children establish a long history of good credit. He shares his thoughts on why the fiduciary mindset matters most, reveals what the average closing time looks like for his clients, and much more. Tune in to our inaugural episode today! 

Key Points From This Episode:

• An introduction to the Wealth Comes in a Variety of Forms podcast.
• Meet your host, Matt Miller, from Awaken Wealth Partners.
• Introducing our first guest, Matt Brown, from Encompass Lending Group.
• The difference between Annual Percentage Rate and Interest Rate.
• Discount points and why they are not currently a popular choice: rates are at an all time low.
• How the amortization schedule works.
• What a lock in rate is and how you can pay for a longer one. 
• Why every company calls their fees something slightly different. 
• Questions to ask to find the best one: what is the bottom line and what’s the interest?
• How every family has a different strategy and therefore a different strategy is appropriate.
• Debt to Income Ratios, top and bottom ratios and how they all work.
• Why it is important to have a strategy when it comes to your refinancing or mortgage plan.
• How knowledge is power when applied, and your plan is what matters most.
• Matt Brown’s thoughts on why interest rate matters so much: the lower the rate, the more your purchasing power becomes.
• How inspection is not required, but appraisal is, and why you should always have it inspected.
• Why it is so important to know the estimated value of your home. 
• The PMI that everyone is required to pay if they own more than 20% of a property.
• How to find out what the estimated value of your property is.
• Why having great credit can be more important than even having money.
• What they consider good credit: anything in the 700s.
• The three main loan types: conventional, FHA and VRA.
• Why assets are important to lenders: they indicate the ability to repay.
• Tips for parents to help their children to establish a long history of good credit.
• Jumbo and non-conforming loans and their limits.
• Why it is the fiduciary mindset that matters most. 
• What you should do in preparation: be prepared to provide all the information. 
• The importance of knowing how long you intend to be in your home and to plan accordingly.
• A definition for equity: the difference between what your house is worth and what you owe.
• What the average closing time looks like, even if you pay cash, with all steps considered.
• Why we can’t expect that someone else is going to do our part for us. 
• Today’s wealth pin: don’t allow your narrative be determined for you;...