I've talked about it in past videos, but I can't stress it enough: the digital mortgage revolution is here!
Over at GuaranteedRate.com, my lender is now doing a 100% digital mortgage. The only part that is not digital is the closing of the loan. You'll receive $250 to apply online, a transfer-safe folder to upload all your documents, and regular status updates on your loan. Additionally, you can maintain communication with title companies and Realtors!
The entire mortgage process is now digital, making it more convenient than ever to get a loan! If you have any questions about it, or about mortgages in general, give me a call or shoot me an email. I would love to hear from you!
Welcome back everyone, for another visit with The Mortgage Doctor. Today let's talk about a big topic in the news: interest rates. They are rising, and today we're going to let you know what you can expect from them in the near future.
We have seen an increase in rates over the last 30-60 days that is likely to continue. The Federal Reserve has said they are going to increase the prime rate, which can have an effect on interest rates. However, this effect is purely emotional. Mortgage rates are actually driven by mortgage bonds, which are based on complicated factors in the stock and equity markets. It's too complicated to get into now, but just remember that the Federal Reserve isn't responsible for a rise in interest rates, and they won't go up immediately.
If you have any questions for me about interest rates and where they are going, give me a call or send me an email. Set an appointment with The Mortgage Doctor today!
Today I'd like to speak about consolidating debt. Some of my clients have asked whether or not they could use the equity in their homes to give themselves some breathing room in regards to their debts. There are a lot of different circumstances under which someone would want to do this, and owning a home is a great way to manipulate your cash flow. This is especially true in the low interest rate environment.
You really need to look at your home in the same way as a business owner. If you can increase your cash flow and reduce your expenses, you can restructure your life. If you're interested in doing something like this, then please give me a call and I'd be glad to give you a thorough analysis and consultation, all at no cost to you.
