Should You Use a Home Equity Line of Credit to Cover a Big Expense?
Smart Mortgage Show with Bill Litton
Release Date: 05/23/2024
Refinancing Considerations For 2025
Smart Mortgage Show with Bill Litton
As interest rates continue to decline, refinancing has become a hot topic for homeowners in 2024 and is expected to remain so in 2025. In this episode, Bill Litton from Cross Country Mortgage discusses key considerations for those looking to refinance their homes. Here’s what we discuss in this episode: 0:00 – Intro 1:33 – Where to refinance 3:01 – Finding the best lender 4:33 – Sniffing out desperation 7:30 – Does free refinancing really exist? 9:24 – Final thoughts CONTACT: Schedule a time to meet with Bill here: Visit the Smart Mortgage Show website for more...
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Is It a Better Idea to Pay PMI with the Minimum Down Payment?
Smart Mortgage Show with Bill Litton
When the time comes to purchase a home, one of the big decisions you have to make is how much money to put down on the property. Twenty percent is a key number because it allows you to avoid PMI, but is that the best decision financially? Today we’re going to answer a question about down payments from someone whose friend told them it would be a better idea to put the minimum down and let equity build up. Bill will talk about how you should weight this decision and why it might make sense to put less money down than the traditional 20%. Here’s what we discuss in this episode: 0:00 –...
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Market Update: Will the Election Make a Difference in Mortgage Rates?
Smart Mortgage Show with Bill Litton
All eyes are on the election this week because of the impact it might have across the economy. But will the results matter for mortgage rates? This week’s market update is all about rates rising despite the Fed’s recent cuts and what impact the election will have on the housing market. Here’s what we discuss in this episode: 0:00 – Intro 2:25 – Specific causes of recent rate increases. 3:57 – Does it matter who is in office? 5:41 – More talk from candidates about home buying. 7:22 – Closing out 2024. CONTACT: Schedule a time to meet with Bill here: Visit the Smart...
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3 Main Reasons Loans Never Make It To Closing
Smart Mortgage Show with Bill Litton
When it comes to buying a home, everyone dreams of a smooth and celebratory settlement process. Making it to the closing table should be a positive experience, but not all mortgage journeys end happily. Today we’re going to discuss why some mortgage loans never make it to the closing table and how you can avoid these three main pitfalls. Learn more about three main areas that can derail a mortgage: credit issues, income verification problems, and insufficient funds to close. We want to help you navigate these pitfalls and ensure a smooth path to your settlement table. Here’s what we...
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What Does a Good Pre-Approval Look Like?
Smart Mortgage Show with Bill Litton
What should I expect during the pre-approval process? It’s a big question for homebuyers, especially if they are going through the process for the first time. Buying a home is one of the most significant decisions you'll make, and understanding the pre-approval process can make this journey smoother and more successful. Here’s what we discuss in this episode: 0:00 – Intro 2:21 – Where does a good pre-approval start? 4:42 – Key documents people need ready 6:30 – The professional consultation we provide. CONTACT: Schedule a time to meet with Bill here: Visit the Smart...
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How Quickly Should You Pay Off Your Mortgage?
Smart Mortgage Show with Bill Litton
Paying off a mortgage is a major goal for many as they approach retirement. People often wonder how quickly they should pay it off or by what age should they have the mortgage completely paid down. But is that always the best strategy? Comparison can often be the thief of joy so let’s talk about why it’s important to run your own race and move at a pace that’s best for you. Bill shares insights on the benefits of maintaining a mortgage while investing in higher-return opportunities, the importance of a balanced financial plan, and the value of working with financial and mortgage...
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Market Update: Why Didn't Mortgage Rates Drop More After the Fed Rate Cut?
Smart Mortgage Show with Bill Litton
Recently, the Federal Reserve announced a significant rate cut, the first in four years, reducing the federal funds rate by half a percent. This news had many consumers excited, expecting a substantial drop in mortgage rates. However, the reality turned out to be quite different, leaving many wondering why mortgage rates didn't fall as anticipated. Here’s what we discuss in this episode: 0:00 – Intro 0:34 – First reaction to rate cut 2:03 – Rate cut already baked in 4:39 – Key economic indicators 7:36 – Exploring your options CONTACT: Schedule a time to meet with Bill...
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How To Find a Trusted Mortgage Lender
Smart Mortgage Show with Bill Litton
Finding a trusted lender can be a big challenge because it’s difficult to know where to start. If you go to a place like LendingTree or Bankrate, you might find your phone or email being bombarded with lenders trying to reach out to you. A simple inquiry shouldn’t be an invite to flood your inbox. But there is a better way, and Bill breaks it down in this episode of the Smart Mortgage Show. Join us to get valuable insights on how to identify reliable lenders, learn why local relationships are valuable, and to make sure you’re asking the right questions. Tune in for practical advice on...
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How To Build Credit From Scratch
Smart Mortgage Show with Bill Litton
Building good credit is a huge part of being able to secure a mortgage for a home. However, not all of us are in the position credit-wise that we need to be, so how do we fix that? Many potential homeowners face the challenge of securing a mortgage with less-than-perfect credit. But don't give up! In this episode, Bill shares strategies for rebuilding your credit and securing better mortgage rates. Here’s what we discuss in this episode: 0:00 – Intro 2:14 – Ways to improve your credit 5:21 – Goals to set when eliminating debt 6:20 – Secured credit cards CONTACT:...
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How Do You Know If You Are Getting a Good Deal on Your Mortgage?
Smart Mortgage Show with Bill Litton
The average home buyer shops for a mortgage only a few times in their life so it’s a challenge to know if you’re getting a good deal. No one wants a surprise when it comes time to close, but how do you know if you’re getting a good deal from your mortgage lender? Here’s what we discuss in this episode: 0:00 – Intro 2:29 – Get it in writing. 7:04 – Where to find accurate numbers. 9:02 – Treat your money how you would treat your home. CONTACT: Schedule a time to meet with Bill here: Visit the Smart Mortgage Show website for more podcasts, videos and mortgage...
info_outlineWhen it comes to financing major expenses, homeowners often find themselves at a crossroads. Should you pull from savings, take out a loan, or perhaps, consider a home equity line of credit (HELOC)?
Today, we're tackling that question: is tapping into your home equity through a line of credit a savvy move for major expenses? Join us as we sit down with Bill, a regional president at Cross Country Mortgage, to dissect the ins and outs of home equity lines of credit (HELOCs), their benefits, pitfalls, and how they compare to other loan types. Whether you're eyeing a home renovation or facing an unexpected bill, this episode is your guide to making informed decisions about leveraging your home's value.
Here’s some of what we discuss in this episode:
00:00 - Introduction and Overview of HELOC
04:34 - Importance of Paying Down a HELOC Quickly
09:18 - HELOC Options
CONTACT:
Schedule a time to meet with Bill here: https://calendly.com/blitton/
Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/
Call: 484-352-4151.
Check us out on YouTube: https://bit.ly/3KbUxAF