Watch Chad, Jason and Jaclyn to learn more
From the January KNWA interview with Chad Hartsfield, Jason Suel and Jaclyn House
No Headphones...No Problem. See below for transcript.
It's the new year and many of us of
course aren't working on
self-improvement as a way to start off
the year on a positive note now
financial independence could be one of
those different ways that you can do
just that we've got Chad Hartsfield from
the branch manager from Rock Mortgage
here with five five important things you
need to know if home ownership is on
your list for 2020 hey Chad how are you
guys yeah great thanks for being here
Chad thank you here's something I'm
curious about when people begin to plan
for home ownership I think I wish I
would have planned a little more but
what what are some things that
homebuyers should consider well if there
are New Year's resolution is to get into
that new home I like to tell people is
create and a budget and stick within
that budget yes yes so lenders like to
look at take your gross monthly income
and then take 28 percent of that for
your monthly housing payment okay that's
interesting yeah here's something I'm
curious about too is your credit score
you know we hear a lot of things I think
there's a lot of myths about credit
scores but there's also a lot of truth
about credit scores oh yeah does your
credit score actually affect your
ability to purchase a home yes it does
most definitely does not only does it
affect your ability to buy a home it
affects the interest rate that you pay
on that loan it's we have a lot of
people come in and sit down as we plan
out them buying a new home and say there
are seven hundred credit score yeah well
we can show them how to get above that
740 credit score to get the best
interest rate and terms that's in the
market is that kind of a magic number
that you're looking for of 740 yes okay
a question I'm wondering too if people
are like really dead sitting there at
that 700 and you're like well we
recommend maybe you did a 740 but they
are like set at that 700 I mean is it
okay to go ahead and almost do the house
at that point yeah what we do is we set
them down and show them where they are
now okay and where they can be and then
how long it would take sure what it
takes 60 days would it take six months
so we like to go step by step with them
to see if they get it at home feel
comfortable maybe in that payment now
okay that rate yeah I like that yeah and
one of the tips may be do you have the
people who are looking to purchase a
home in this year twenty twenty twenty
twenty come in and get pre-qualified
okay I understand their options a lot of
people my parents specifically said put
20% down put 20% down okay that is not
the case okay you can of course but
there's programs for 0% down like VA and
SDA and up to five percent on
conventional loans right we have talked
about that before the 20 percent is very
scary oh yes you know for some people so
we have talked previously about you know
kind of what you may be looking at if
you want to purchase a home yeah yeah
and there's different mortgage types out
there it seems so what are the best way
for homebuyers to figure out what is the
right fit for them uh to get
pre-qualified up first of all yeah man
sit down or give us a call we can go
step-by-step see what they're
pre-qualified for that way they're
comfortable and reduces the stress when
they're going out and buying a home if
they're gonna put three percent down
five percent ten percent and what want
them feel comfortable it reduces the
stress and then the spouses or not and
it also helps the realtor find that
perfect home for them that's great Chad
thank you so much and I know that you're
out there on social media easy to find
you just need a search ROC mortgage
you've got some information on your
screen right there Fayetteville and
Bentonville offices Chad thank you so much.l
