Joe Massey, a renowned mortgage expert from Castle and Cook Mortgage, joined Kevin this week to demystify the complex world of mortgage interest rates. Gain valuable insights into the risk factors that influence interest rates and find out how lenders protect their investments.
In this episode, you will be able to:
– Understand how lenders price loans and determine interest rates to make informed decisions about borrowing money.
– Discover the risk factors that influence mortgage interest rates, allowing you to assess your own financial situation and negotiate the best terms.
– Learn why investment properties often come with higher interest rates and how to navigate this when expanding your real estate portfolio.
– Explore the impact of discount points on interest rates, providing you with strategies to lower your monthly mortgage payments.
– Consider your long-term financial goals when selecting mortgage options, ensuring your loan aligns with your plans for the future.
The key moments in this episode are:
00:00:00 – The Value of 15 Minutes
00:01:42 – Understanding Mortgage Pricing
00:04:43 – Risk-Based Pricing
00:05:17 – Investment Properties vs. Primary Residences
00:06:49 – Understanding Discount Points
The resources mentioned in this episode are:
– Visit Pine Financial Group’s channel on YouTube and hit the subscribe button to join our community of real estate investors.
– Leave a comment below the video on YouTube sharing your thoughts or questions about mortgage pricing and interest rates.
– Contact Joe Massey at Castle and Cook Mortgage for long-term permanent financing options for your primary residence, second home, investment property, or condos.
– Consider the risk-based pricing factors when determining your interest rate, such as down payment amount and credit score.
– Understand that investment properties are considered riskier than primary residences, which may result in a higher interest rate.
– Explore the option of paying discount points to lower your interest rate, knowing that 1 point generally reduces the rate by about 0.375%.
– Schedule a Zoom call with Joe Massey to discuss the various mortgage options and determine the best scenario for your long, medium, and short-term goals.
– Collaborate with Kevin Amolsch of Pine Financial Group for fix and flip loans, development loans, and construction loans.
– Consider the break-even point when deciding whether to pay discount points and calculate how long it will take to recoup the upfront costs.
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