Watch Patrick and Amanda to learn more
From the January KTHV interview with Patrick Dennis and Amanda Jaeger.
No Headphones...No Problem. See below for transcript.
The new year could mean a new house for
some of you find out how to make sure
you're making the right investments for
owning a home for some of us a new year
could mean a new financial outlook and
one of those ways to help the money in
your bank account could be to invest in
a home we have Patrick Dennis from Bank
of Little Rock Mortgage here to tell us
how to achieve your home ownership goals
are a lot of people buying houses here
in the new year there are yeah there's
limited demand here in January but still
there's a lot of people out there
knocking on doors and calling Realtors
and calling myself right probably a big
goal for a lot of people this year to
have a home if they have never been able
to get one before and so how I mean how
hard is it do you really have to have a
perfect credit score is that kind of a
myth so as far as credit score goes it
definitely affects what you're eligible
for whether it eligible at all or not
and it will definitely affect your rate
as well as your mortgage insurance rates
so the first thing you want to do is
take a look at your credit get it in
great shape
make sure there's no mistakes on there
get your credit cards around 50% or
lower
possibly even around 30% would be good
and just have that ready so when you're
ready to go or okay that's that's really
really really good advice I know you've
got a couple other tips here too I know
that for a lot of people it's just
getting that budget where they need it
to be because it can it can be expensive
but it can be more expensive to rent
right so what you want to do is you want
to get yourself set with something
that's affordable okay your your payment
structure with all your other credit
card payments and such make sure you
know what you can afford not what you're
qualified for but also you want to know
what's in that home mortgage payment
such as taxes insurance and we have an
online calculator that'll help you do
that okay so those are some good tips
you're seeing there on your screen as
well and I know one of the big questions
too is how to find the right mortgage
type I feel like there are a lot of
people out there trying to get you to
get a mortgage how do you know which one
is the best yes so there's not a
one-size-fits-all for that we have
several different options and which we
figure out your credit we'll figure out
your down payment amount look at a
couple other factors we can kind of fit
you into two or three different
mortgages as long as you qualify
and then figure out what's the best one
for you long term and short term okay
this is great advice I know for a lot of
people it's your goal to finally get to
buy that house so Bank of Little Rock
mortgage we got Patrick here all the
information you need so thank you so
much for providing that we appreciate it
thanks for having me
