Martini Mortgage Podcast
In this episode of the , Certified Mortgage Advisor and shares his 2024 real estate forecast which is data-driven over sensational headlines. Dubbed the "4, 5, 6 forecast," Martini outlines his moderate yet realistic predictions for the real estate market in 2024. Key Predictions: Home Appreciation: Predicted at 4% for 2024. Home Sales: Forecasting 5 million homes to be sold in 2024. Mortgage Rates: Anticipating rates to stabilize around 6%. In-Depth Analysis: Mortgage Rates: Reflection on the unexpected spike in mortgage rates in 2023 and the current trend towards mid 6% rates....
info_outline Marry the House, Date the Rate: Navigating the Real Estate High TideMartini Mortgage Podcast
Certified Mortgage Advisor and , hosts a special episode of the titled "Marry the House, Date the Rate: Navigating the Real Estate High Tide.” Kevin explores the popular real estate advice of committing to a home while being flexible with mortgage rates, especially in today's unpredictable market. Key Topics Discussed: Current Housing Crisis and Demand: An examination of the U.S. housing shortage, with insights from the National Association of Realtors. Understanding the gap between demand and supply and its impact on home prices. Mortgage Rate Trends: Analysis of historical and current...
info_outline Feel Locked Out?Martini Mortgage Podcast
In this special micro episode, Certified Mortgage Advisor and Kevin Martini dives into the challenges many face in the current housing market. While acknowledging today's higher mortgage rates, Kevin provides historical context, reminding listeners of the 18.63% rate in 1981. Kevin introduces strategies like temporary interest rate buydowns and the option to pay points, emphasizing the cyclical nature of mortgage rates. Kevin also highlights the Martini Mortgage Group's unique no-down payment FHA home loan and other affordable lending programs. With a potential rise in home values and...
info_outline Affordability, Inventory, and Student Loan DebtMartini Mortgage Podcast
In episode 192 of the Martini Mortgage Podcast, Certified Mortgage Advisor and dives deep into the major hurdles faced by homebuyers today: Affordability, Inventory, and Student Loan Debt. The current housing landscape presents skyrocketing home prices and limited listings, compounded by the weight of student loans for many. Kevin breaks down the myth of affordability, highlighting that home prices, mortgage rates, and income all play interconnected roles. Despite these daunting obstacles, Kevin emphasizes that the American Dream of homeownership remains attainable. He champions an informed...
info_outline Divorce and the Marital HomeMartini Mortgage Podcast
In this insightful podcast episode, Certified Mortgage Advisor and , backed by years of mortgage advising experience, sheds light on the critical financial aspect of handling the marital home during a divorce. Epsidoe 191 of the Martini Mortgage Podcast is structured to first dice into understanding the value and equity of your marital home, followed by exploring the three core options available for couples amidst divorce proceedings. Initially, this micro podcast episode of the Martini Mortgage Podcast emphasizes the initial 3 steps to determine your equity position three steps: -)...
info_outline 2 Questions to Ask Yourself Before Buying a HomeMartini Mortgage Podcast
Welcome to episode 190 of the , titled MMP, where our host Kevin Martini, a r and Certified Mortgage Advisor, explores the topsy-turvy journey of home buying in the current real estate scenario. In this episode, Kevin dives into the emotional roller-coaster that accompanies the homebuying process, especially amid soaring home prices and fluctuating mortgage rates. He emphasizes on the importance of focusing on one’s aspirations, financial blueprint, and the groundwork needed before diving into the real estate market. Highlights: Understanding the Real Estate Landscape: A discussion on the...
info_outline buying a home in the fall of 2023Martini Mortgage Podcast
In this episode, as the fall season sets in, dives deep into the current state of the real estate market, emphasizing that while the weather cools, the property market remains sizzling hot. Kevin, a Certified Mortgage Advisor with the , introduces listeners to the recently released Fall 2023 edition of the Martini Mortgage Guide. This free resource, available at MartiniBuyerGuide.com, offers a comprehensive look into the intricacies of home buying and mortgages in the current market. Key highlights from the guide include the challenges posed by the low housing inventory, the new normal of...
info_outline Student Loan Payments ResumeMartini Mortgage Podcast
In episode 188 of the , host Kevin Martini discusses the upcoming resumption of federal student loan payments on October 1, 2023, and its potential impact on mortgage approvals. He emphasizes the importance of understanding one's financial position and offers insights on navigating the changing landscape. Main Topics: Resumption of federal student loan payments on October 1, 2023. How this might impact your mortgage approval. Key Points: Federal student loan payments and interest were suspended in March 2020 due to the COVID-19 pandemic. As of June 2023, the pause is set to end, with...
info_outline 35% is YOUR TimelinessMartini Mortgage Podcast
In episode 187 of the Martini Mortgage Podcast, host , a Certified Mortgage Advisor and Producing Branch Manager with the Martini Mortgage Group at Gold Star Mortgage Financial Group, delves into the significant connection between personal habits and credit scores. Utilizing the analogy of a car's maintenance, Martini emphasizes that 35% of a person's credit score performance is dependent on their timeliness in paying debts. Likening various financial mishaps to flat tires and rusty engines, he underscores the serious consequences of late payments, charge-offs, bankruptcies, and judgments on...
info_outline How Inflation Impacts Mortgage RatesMartini Mortgage Podcast
In episode 186 of the Martini Mortgage Podcast, titled "How Inflation Impacts Mortgage Rates," Kevin Martini, a Certified Mortgage Advisor, dissects the stubborn nature of inflation and its complex relationship with mortgage rates. The discussion reveals how inflation, being the increase in general price levels, directly influences mortgage rates, affecting everyone's purchasing power. Martini explores the counterintuitive nature of bonds and mortgage rates and emphasizes the lag between inflation dropping and mortgage rates falling. This episode dives into current market trends, including...
info_outlineCredit score 101 is the name of the 101st episode of the Martini Mortgage Podcast which is hosted by Raleigh Mortgage Strategist Kevin Martini with the Martini Mortgage Group at Benchmark Mortgage.
FACT: You need a credit to secure a mortgage.
FACT: Many people overestimate what their credit score needs to be in order to secure a mortgage. In addition, many people overestimate the amount of money that is needed for down payment to buy a home and secure a mortgage.
FACT: Your credit score does NOT define who you are.
FACT: Poor credit can become exceptional credit
Credit Score…what is considered poor, what is considered exceptional.
Credit score for the purpose of mortgage ranges from 300 to 850. The higher the score the better! There are several bracket of credit score: the highest bracket is ‘exceptional’ and the lowest bracket is ‘poor’. If your credit is at 800 or north of 800 it is considered to be exceptional. If your credit score is between 799 to 740 it is considered to be very good. If your credit score is between 739 to 670 it is considered good. If your credit score is between 669 to 580 it is considered fair and if it is at 570 or below, it is considered to be poor.
“Bad things happen to good people, your credit score does not define whop you are.” Kevin Martini
Where you get your credit score matter!
There are 3 credit repositories (a.k.a. credit bureaus or credit agencies) and they are: Equifax, Experian and TransUnion. They have literally thousands of models and every industry uses a different model so the score secured by a credit card company will be different than one by a car dealership…the score to get a mortgage will be materially different than a free consumer credit score site.
Free consumer credit reports.
Free consumer credit score site and services offered by credit card companies only offer generic score. The objective of this score is helpful to give you a feeling where your credit is on the aggregate.
“Let me use the weather as an analogy. The free consumer sites are going to tell you if it is hot outside or if it is cold outside, they might even tell you it is chilly or warm but they are not going to tell you the exact temperature nor will they be able to tell you if it going to rain.” Kevin Martini
Kevin Martini | NMLS ID 143962 | Senior Mortgage Strategist & Branch Manager | Martini Mortgage Group at Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS ID 2143 | 507 N Blount St Raleigh, NC 27604 | (919) 238-4934 | www.KevinMartini.com | [email protected] | Equal Housing Opportunity