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YFP 399: From Pre-Approval to Closing: Understanding the Mortgage Process (and Common Mistakes to Avoid)

Release Date: 03/13/2025

YFP 410: Fatherhood and Finance: 5 Lessons My Kids Taught Me About Money

Your Financial Pharmacist

In this special Father’s Day episode, Tim Ulbrich shares five unexpected and powerful money lessons he’s learned from raising four boys. Episode Summary YFP Co-Founder & CEO, Tim Ulbrich, PharmD, reflects on the unexpected and powerful financial lessons he’s learned from raising four boys. From conversations at the concession stand to big-picture reflections on priorities, Tim shares 5 meaningful insights that go beyond spreadsheets and savings accounts. Whether you're a parent, planning to be one, or simply interested in how life shapes our money mindset, this episode offers a...

YFP 409: Millionaires Think Differently: The Mindset Shift That Changed My Life

Your Financial Pharmacist

What mindset separates high earners from true wealth builders? Inspired by The Millionaire Next Door by Dr. Thomas Stanley, Tim Ulbrich breaks down how changing his perspective on money transformed his financial path, and how it can do the same for you. Episode Summary YFP Co-Founder & CEO, Tim Ulbrich, PharmD explores the key mindset shift that helps pharmacists quietly build lasting wealth. This isn't about flashy cars or overnight success. It's about the habits, discipline, and mindset millionaires use to build wealth quietly and consistently. Drawing from both personal experience and...

YFP 408: What Should You Do With an Old 401(k)?

Your Financial Pharmacist

What should you do with an old 401(k)? Tim Ulbrich and Tim Baker explore your options, common pitfalls, rollover strategies, and how to make smart moves with old retirement accounts after leaving a job. Summary When you leave a job, what happens to the retirement account you left behind? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, take a deep dive into the important financial decisions surrounding old employer-sponsored retirement plans, such as 401(k)s and 403(b)s. Tim and Tim discuss the impact these...

YFP REI 134: From Pharmacy To Real Estate: Why This Couple Invests in Raw, Vacant Land

Your Financial Pharmacist

Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land and building Secure Land Co. Summary Quynh and Tri Vu, two professionals who transitioned from pharmacy and IT careers into real estate, share their journey into investing in raw, vacant land in this episode of the YFP Real Estate Investing Podcast. Joined by hosts Nate Hedrick, PharmD, and David Bright, PharmD, Quynh and Tri walk through their early steps in real estate, starting with single-family rentals and moving into the world of...

YFP 407: Ask YFP: Using 529s for Student Loans & Buying Bitcoin Efficiently

Your Financial Pharmacist

Tim Ulbrich and Tim Baker answer two questions from the YFP community on using 529 funds for student loans and the most cost-efficient ways to invest in digital assets like Bitcoin. Summary In this episode, YFP Co-Founder & CEO Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO Tim Baker, CFP®, RLP®, RICP®, to answer two insightful financial questions from the YFP community. First, they explore whether it makes sense to use 529 plan funds to pay off student loans. Tim and Tim break down the relevant provisions of the SECURE Act, highlight key limitations and tax implications,...

YFP 406: Should You Pay Off Your House Early?

Your Financial Pharmacist

Should you pay off your mortgage early? YFP Co-Founder & CEO, Tim Ulbrich, PharmD unpacks the math, emotions, and big-picture factors in the mortgage payoff debate—plus 5 reasons when it may or may not make sense to pay extra on your mortgage. Summary Should you pay off your mortgage early? It’s a question that comes up often in personal finance—and the answer isn’t always as straightforward as the math suggests. In this episode, YFP Co-Founder and CEO Tim Ulbrich, PharmD, unpacks the numbers, the emotions, and the bigger picture behind this important decision. Using a real-life...

YFP 405: Navigating Retirement Income: How to Turn Assets into a Paycheck

Your Financial Pharmacist

How do you turn your retirement savings into a reliable paycheck? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, break down three common strategies for building a retirement paycheck — including how each works, who they’re best for, and the pros and cons to consider. Summary How do you turn your retirement savings into a reliable paycheck? In this episode, YFP Co-Founder & CEO, Tim Ulbrich, PharmD, is joined by YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP®, to explore three common retirement...

YFP 404: 5 Key Questions to Ask Before Hiring a Financial Planner

Your Financial Pharmacist

Tim Ulbrich, PharmD, and Tim Baker, CFP®, break down how to find the right financial planner—covering what planners really do, how they’re paid, and the questions to ask—so you can move forward with clarity and confidence. This episode is brought to you by . Summary Not sure who to trust with your finances—or if you even need a financial planner? In this episode, Tim Ulbrich, PharmD and Tim Baker, CFP® dive into what a great financial planner does beyond providing investment advice, and how they can help you navigate life’s financial twists and turns. Tim and Tim explain...

YFP 403: Lessons from the Red: Navigating Big Market Dips

Your Financial Pharmacist

Tim Ulbrich, PharmD, reflects on losing over $100,000 during recent market volatility and shares eight powerful, experience-driven lessons from two decades of investing to help listeners navigate the emotional and practical realities of building wealth. This episode is brought to you by . Summary In this episode, Tim Ulbrich, PharmD gets personal and shares how he lost over $110,000 in just five days. Despite his professional background in personal finance, Tim candidly shares how challenging it was to write those numbers down—highlighting just how emotional and disorienting the...

YFP 402: Building a Legacy: The Family Constitution Blueprint with Julia Myers

Your Financial Pharmacist

In this episode, Julia Myers, pharmacist and founder of Generational Wisdom, shares her Family Constitution Blueprint, a tool to help families define values, build traditions, and create a lasting legacy. This episode is brought to you by . Summary In this episode, Tim Ulbrich is joined by Julia Myers, a pharmacist and the founder of Generational Wisdom, a business born out of her own powerful story of transformation. Julia shares her Family Constitution Blueprint, a thoughtful and deeply practical tool that helps families clarify their core values, establish meaningful traditions, and...

More Episodes

Tim Ulbrich, YFP Co-Founder is joined by mortgage loan officer Tony Umholtz to discuss the mortgage process. They break down key steps, from getting pre-approved to closing, highlighting important considerations and common mistakes to avoid when buying a home.

This episode is brought to you by First Horizon.

Summary

In this episode, Tim Ulbrich, YFP Co-Founder and CEO is joined by Tony Umholtz, a mortgage loan officer with First Horizon Bank as they break down one of the biggest financial commitments you’ll ever make—buying a home.

Taking out a mortgage is a massive financial decision, one that can impact your life for decades. From getting pre-approved to signing those final papers at closing, there’s a lot to consider—and a lot of mistakes to avoid.

Tim and Tony walk listeners through the mortgage process step by step. They cover what you need to know before getting pre-approved, how the bank sets your max loan amount, and how to avoid common pitfalls throughout the process.

About Today's Guest

Tony Umholtz is the Senior VP of Mortgage Banking at First Horizon. He graduated Cum Laude from the University of South Florida with a B.S. in Finance from the Muma College of Business. He then went on to complete his MBA. While at USF, Tony was part of the inaugural football team in 1997. He earned both Academic and AP All-American Honors during his collegiate career. After college, Tony had the opportunity to sign contracts with several NFL teams including the Tennessee Titans, New York Giants, and the New England Patriots.

Being active in the community is also important to Tony. He has served or serves as a board member for several charitable and non-profit organizations including board member for the Salvation Army, FCA Tampa Bay, and the USF National Alumni Association. Having orchestrated over $1.1 billion in lending volume during his career, Tony has consistently been ranked as one of the top mortgage loan officers in the industry by the Scotsman’s Guide, Mortgage Executive magazine, and Mortgage Originator magazine.

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