How to Lay Claim To the Gold in Real Estate and With Your Mortgage

Written by Posted On Sunday, 26 May 2024 00:00

John Capozzi- “Dig where the gold is unless you just want some exercise.”

“Location, location, location,” experts say is the most important real estate facet.  If you are a homeowner, a home seller, or a homebuyer, the timing element determines the amount of gold you mine from your home or your financing. “Is there still gold in them there hills?”  Watch out for the effects of inflation.  

Inflation is pushing onto the scene, and inflation is the archenemy of low interest rates.  This week the Federal Reserve chairman, Jerome Powell, announced that the Fed would continue keeping their rate low, even in the face of rising inflation. The Fed vowed they would continue to buy mortgage-backed securities to keep mortgage rates affordable.  However, the bond markets have been running against the Fed's efforts like a game of chicken.  “Is there gold in them there hills?”  When it comes to your real estate and your mortgage financing terms, better look at laying claim to it now, before the economic landscape changes. 

We still see a hot real estate market for both buyers and sellers from the mortgage office.  High demand and the short supply of homes for sale are bolstering home values on the high side.  High home values are golden for home sellers.  Buyers see the still low fixed mortgage rates as a goldmine for them also.  Buyers can lock in fixed rates that are still giving them a house payment much less than what they would be paying to a landlord for rent on a similar home.   

Ways to mine gold from your home and mortgage

1. First-time homebuyers feel a lot more secure knowing the principal and interest payment on their new fixed-rate mortgage will not be increasing year after year, like when their landlord would knock on the door and raise the rent.  

Johnny and his family had been paying about $1,000/month in rent in a crime-ridden area. They wanted to move to a safer neighborhood with a larger house to accommodate their expanding family size.  Johnny was short on funds for a down payment, but he did have a lot of patience and persistence, and with a little bit of help with the down payment from a local agency, Johnny’s family bought the home they wanted with less than $1,000 down and a total payment under $800 per month. 

2. Home sellers are bragging about the profits they are pocketing selling their homes.   For example, for March 2021, Realtor.com shows the national median home price was $353,000, an increase of 13.7% from  $310,000 in February 2020.  

3. Refinancing and restructuring finances are still happening for homeowners.  Today the pace is more frantic since mortgage rates have been climbing steadily over the last month. It is hard to find mortgage rates in the twos with no extra costs, but there are still rates to enjoy in the threes for many borrowers.

A. Refinancing to lower your rate and lower your mortgage payment
B. Refinancing to lower your rate and shorten the term on your mortgage
C. Refinancing to lower your rate and combine other debt to improve your home or reduce overall payments per month. 

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Jo Garner

 NMLS# 757308 (currently working with Sierra Pacific Mortgage, Inc Cordova, TN  NMLS # 1788 An Equal Housing Lender)

“Whatever YOUR  personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on  hitting your goals .”

As a mortgage loan officer, my job is to help you get to the  benefits you want from your financing terms.  What is most important to you? I can help you find the financing terms that will help you get to what you want.   What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

Different clients have different priorities in life—some are buying their first home with very little down payment funds.  Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country.  She offers conventional, FHA, VA or other loan programs for refinancing and purchases. 

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home  purchase financing.  

Jo Garner  has been in the real estate/financing business for over 25 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 25 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.  

In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com

Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com.

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Pick up her book “Choosing the Best Mortgage-The Quickest Way to the Life You Want on Amazon.com and BarnesandNoble.com .

www.JoGarner.com

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