Posted by Blake Montgomery on Mar 17, 2020 12:59:15 PM
Blake Montgomery


Watch Robert, Jason and Jaclyn to learn more










From the March KNWA interview with Robert Brown, Jason Suel and Jaclyn House

No Headphones.  No Problem.  See below for transcript.

Thinking about buying your first home
will now may be the best time to invest
in that dream home mortgage rates are at
historic lows right now and
understanding all of your options is
crucial by acting fast during this time
so joining us via phone to go over the
top four things to consider when
purchasing your first home we've got
Robert Brown with rock Morgan joining us
yes thanks for being here Robert hi
Robert thank you for having me now what's the
most important factor for first-time
homebuyers to consider well the the most
important factor is is what are your
needs you know there's a lot of
different loan products out there and
it's just mainly what do you need what
are the barriers to entry and how to
plan for the process that that's
something that I can help with okay now
what about folks that have a lower
credit score what are some o options
available for them we've got you know
different products that are out there
some of the things that we can work on
is trying to get that score up you know
just just because you have a lower score
doesn't necessarily mean that now is the
right time but there are some products
out there for people who have a lower
credit score and and you kind of have to
define what what's lower you know so
there are products those FHA products
that we can work with for people like
that sure now first-time homebuyers who may
not be familiar with a lot of the
terminology may be hearing about being
pre-qualified what does that mean
pre-qualified means that we're going to
have a phone interview you're going to
apply I'm going to check your credit
we're going to take a look at that and
talk through that we're going to just go
over what's going on with you your
current economic condition your job I'm
just basically and I'm going to ask a
bunch of questions but we're going to
get get to the bottom of kind of where
you're wanting your payment to be so
that we can overlay different loan
products with your specific situation we
like to tailor the loan to what the what
the individual needs at the time perfect
so you mentioned interest rates how does
that affect someone when they're trying
to purchase a home sure it affects the
payment obviously you know interest
rates are super low they were they were
the lowest I've ever seen two weeks ago
they ticked up this past
week and now with the government's
injection of capital in the system there
started coming down from Friday to
Monday and I have a funny feeling
they're gonna they're gonna really
bottom out now might be a wonderful time
to buy a home or refinance a home
everything going on
what about closing costs should people
be concerned about closing costs and
maybe a number that they should be
thinking about when it comes to for some
homebuyers you know closing cost is going to be
very much subject to the price point of
the house and the loan type that we do
you know a lot of times we can get the
seller to pay closing cost that is an
option if you're looking at closed
there's there's some loan types out
there that actually can provide some
assistance with the closing cost but I
mean just a like a throw out a number I
mean I would say forty five hundred or
so would be inadequate and sometimes
it's thirty eight hundred sometimes it's
fifty five hundred it just kind of
depends on the loan size sure good to
know that ballpark no thanks for using
that yeah absolutely
and if homebuyers want some more
information especially for first-time
homebuyers Robert how can they contact
you they can contact us at bank statements if
you're doing a refinance your existing
mortgage most importantly on a refinance
I'd like to know when your insurance is
due next and you know just to pace
normal stuff tax returns w-2s things of
that nature initially in the first
interview maybe more interested in just a pay stub
and on a refinance of when your
insurances do okay great thank you so
much for sharing with us taking the time
today absolutely
you're very welcome and we'll make sure
we have this information for you guys
especially for those first-time buyers
out there horn our website their day in
deborah come

Topics: first-time home buyer On Time Closing Low Down Payment Mortgage Loans USDA Loans