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Better, Faster, Cheaper Mortgages Could Be On the Way

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On The Market

On The Market

Күн бұрын

Episode #232
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The mortgage industry has just been through one of its biggest booms and busts, but some tech-first, cost-saving innovations could improve things for borrowers after this current cycle. During the low-interest rate environment, transactions were at record highs as borrowers rushed to refinance or buy homes at rock-bottom rates. But, once interest rates shot up, the volume stopped, and those in the mortgage industry saw their incomes plummet. Many had to raise prices to keep the lights on, making originating a mortgage even more expensive for borrowers. But things are changing-for the better.
Faith Schwartz from Housing Finance Strategies is here to unveil some of the groundbreaking changes the mortgage industry is making and how it could make getting a mortgage more accessible and cheaper for first-time homebuyers and investors. Faith even shares some new loan products we didn’t know about, from mortgages that help low-money-down borrowers to products that allow access to equity without refinancing or using a HELOC (home equity line of credit).
With mortgage origination costs around a whopping $13,000, Faith walks through the new technology that could dramatically reduce this high price for borrowers and lenders. Plus, an AI and high-tech push from the government could completely flip this often archaic system. If you invest in real estate, want to invest, or work in a real estate-related service, this will seriously impact you!
00:00 Intro
01:39 The "Perfect Storm" Mortgage Industry
06:45 Mortgage Businesses Going Under?
08:36 The True Cost of a Loan
12:31 Government-Fueled Innovation
17:15 Saving Homeowners During the Pandemic
22:19 Tech-First Mortgages Are Coming
25:09 New Loan Products to Know About

Пікірлер: 10
@andychen1947
@andychen1947 27 күн бұрын
Boxabl for startup?
@MikeCasey-z5m
@MikeCasey-z5m 2 күн бұрын
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
@lunaezj-e9b
@lunaezj-e9b 2 күн бұрын
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite a while now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
@Millerj2450
@Millerj2450 2 күн бұрын
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
@williamsscott3303
@williamsscott3303 2 күн бұрын
My partner’s been considering going the same route, could you share more info please on the advisor that guides you
@Millerj2450
@Millerj2450 2 күн бұрын
Iynne Marie Stella is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@Alex_will12
@Alex_will12 2 күн бұрын
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
@VR_investments
@VR_investments 26 күн бұрын
Are interest rates actually high or did we get spoiled with 3%
@pjsromproom9378
@pjsromproom9378 26 күн бұрын
Spoiled? The 3% were because the Obama years were absolutely miserable for work.
@maryrangel6023
@maryrangel6023 3 күн бұрын
We got spoiled, but it’s undeniable that home prices are the highest they’ve ever been and incomes are not keeping up. Homes in most markets went up more than double, and in some markets homes tripled in price. Wild (unreal) growth within a 3 year span.
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