Fed Hikes Rates, Home Loan Rates Remain Steady

• August 5, 2023
• realestate
• Podcast

We are seeing the Fed hike rates as our fight against inflation resumes. With that, rates have been the highest we have seen in many years. The Fed resumes by going up another quarter after taking a hiatus. However, home loan rates remain steady. What does this mean for you? Tune in to this episode as Michael Harris uncovers these changes in the market as well as more economic news. Plus, hear how you can save money, earn money, take your debt off, and create wealth. Tune in as Michael shows you the ways to make your money work for you in whatever environment.

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Listen to the podcast here

Fed Hikes Rates, Home Loan Rates Remain Steady

I want to ask you, what loan do you have? It’s always a question of the day. Again, many of you have great loans. You have loans that have 2s, 3s, or even 4s as the front number, but some of you have 5s, 6s, 7s, and 8s. In the market, we are finding interest rates ranging close to 6s to 7s, depending upon your equity position, your credit score, and the term of your loan. Making a loan decision now is important, but again, you can look to redo your loan in the future and pay less money now to obtain the property that you wish to buy.

We are closing purchase loans. We are getting that accomplished throughout our communities. There are high levels of demand. There is low inventory. We are finding value in maintaining in most markets, and I want to help you get pre-approved. At United Mortgage Corporation of America, United4Loans.com, we are here to help you with your lending decisions. Pick up the phone now, (888) 543-3980. We had closed on a few different purchases. Some with the lower down payments and some with 20% and even higher.

It doesn’t take 20% down to buy a home. We are seeing loans closing with very low down and even getting subsidies, whether they are bond-related items or grants. We are looking at 100% financing for some. We can go over those qualifications independently with you. Many of the calls that we have been having in meetings with our clients have been about eliminating interest. It’s interest volume versus interest rate.

If I can show you how you can eliminate your interest and a third or half and as little as a third or half the time without changing your lifestyle. Would you be interested? We will talk more about that, but we have individuals who are going from 30 years down to 12 down to 8 years, eliminating thousands of dollars of early interest. Those of you who have a mortgage or had a mortgage in the past, when you look at that mortgage statement, how much interest is going in that payment? Are you at a 50/50 level yet? Usually, that’s about 18 to 21 years in, so you are paying a lot of interest.

Although you have a 3% interest rate, you might be paying 60% toward interest on your payment, and eventually, it skews and balances out, then you pay a lot less interest in the latter part when you don’t even necessarily have the home any longer or the loan. I want to educate you on those aspects. I want that money to be in your pocket. I want you to become the bank.

In this episode, we will also talk about what happened with the Fed. Another 25%. We went up the prime rate at 8.5% now. That’s going to affect you on the consumer side. We saw an initial reaction on the mortgage side. We saw interest rates get a little bit better, and they got bad the next day, then they came back the day after.

It’s going back and forth and meandering based on what Chairman Powell had said. We will discuss that in our next segment, but it’s day-to-day, and you are making decisions. They shouldn’t be day-to-day decisions because you are looking further in the future. I want to make sure if you are renting, your landlord loves you, and you just don’t need that love in your life.

I want to show you how you can have home ownership. Maybe for the same or even better price than you are paying for rent, but you must get pre-approved. We must look at what’s going on and how we can put and shape you better based on what is occurring. That’s going to be important, whether it’s your credit score or the makeup of your credit. Getting all that in the right place so we can buy that money at the cheapest cost possible puts you in a position to be debt-free earlier.

Also, gaining the home but making sure you are staying in the home. Make sure you are comfortable with that lone decision and that the home is affordable. The last thing I want you to do is get into the home. Deadbolt goes, “I can’t afford to leave.” I want you to be able to come and go as you please, make sure you are saving money and earning money, taking your debt, and creating wealth.

We are approved in five different states were approved in California, Colorado, Montana, Texas, and the State of Washington. We are able to do what is called DSCR loans, Debt Service Coverage Ratio loans for investors. We can do that in over 30 different other states, so I’d love to help you with that. We can do FHA, VA, forward loans, and reverse mortgages. We can do all of the above construction and commercial. If anything is tied to real estate, I want to help you out. Give us a call at (888) 543-3980.

Fed Hikes Rate

Home loan rates were unchanged despite the Fed raising the rates to the highest level in several years. I have been in the business now for quite a while, so I have seen all of that, and I saw one interest rates were much higher. We have been enjoying some much lower rates, but the Federal Reserve did raise that Fed funds rate to a range of 5.25% to 5.5%. That does move the prime rate up to 8.5%.

It was widely expected. In the last meeting, the Fed paused, but I mentioned it was a hawkish pause. It wasn’t tame. It was like, “We are reading the tea leaves. We knew another one was coming.” It was priced almost at a 90% chance of occurring, and it did. He did mention in the meeting, at the press conference afterward, that we have had some strong information coming out over the last couple of months. He wouldn’t rule out a raise again coming.

Now we are watching what’s happening. We are going to take a look at the employment numbers. They have to come out soon. We are going to see what’s being said overall and the reactions to inflation and the reports. I mentioned CPI was going to be very important because it eliminated the June number of ‘22. Now, some of these numbers are going to be a little bit more tame. It’s going to be tougher to crack and move a lot faster on the inflationary side.

We are in this slow drip mode. We are not necessarily cutting off the water as fast, but we are cutting off what’s there left dripping, seeing if we can get below 3%, but the fed’s target is 2%. We are seeing what is going on, where people are spending, and what’s going on going forward. One main reason the interest rates remain high, and the Fed has continued to raise rates is the underlying resilience of the economy.

Many economists are watching what’s happening with the Central Bankers throughout Japan, overseas, and various other items. They are following our lead by raising as well that quarter, but we are looking at what we are doing if people were talking about the Fed easing. I don’t see it. We are seeing if the recession is going to be more of a hard, soft, or medium landing.

As that goes on and people start going a little bit more confident going, “We are going to be okay,” then they keep spending. We want to shut that down because we don’t want to see that inflationary move. We are putting our foot on the gas and the brake at the same time. We know sometimes how that works out. We are going to see what happens in the cycle. We are going to keep an eye on this, but if you are finding a home that you want to live in and it sounds cliché. Marry the home, date the rate, and divorce the debt.

We want to get you in the property at the right price. Your local realtor and your expert in your local market will help you with that. We don’t list and sell. We want to get you pre-approved. If you are able to purchase that property, we also look at our perfect financial GPS program to get you in control of your debt so we can create wealth by eliminating early interest in the earlier parts of your loan. We are going to make a big difference.

If we then can take your 5%, 6%, or 7% interest rate, give or take, and take it down to 5% or even lower in the future, fantastic. We need to make sure the cost makes sense just because you can get a rate, it doesn’t mean it’s the best thing to do because what is the cost to obtain it? All interest rates are not created equal. It depends on how they are being paid and how they are being set up. If you are front-loading all the costs, you pay much higher. That’s what an APR is showing you. It shows you the annualized percentage rate based on the cost of obtaining the loan.

If you are doing the loan at no point, you are very close to that rate that you are obtaining, then you can look to spend that money at a better time, perhaps if it makes sense. We need a net tangible benefit. Now, we have Fed items that they like to watch. We have the jobs report. Expectations are showing that 184,000 jobs should be created. This would be the lowest reading since December 2020.

Within this report are hourly earnings, which the Fed watches closely because people receive more pay. It could lead to higher prices, and that’s more Fed rate hikes. We are keeping an eye on these items, but throughout, I look at what’s going on the calendar. We have the Chicago PMI. We have the PMI manufacturing, construction, and spending. We have ISM Manufacturing coming out and job openings in turnover, which is called the jolts number.

We have our mortgage applications, which we have been seeing tossing around a little bit. We will see in the summer months if we see more purchases. ADP employment report coming out, but then coming up, we have a lot of things. We got challenger job cuts, continuing claims, initial claims, and on-farm productivity. We got a lot of things coming out from various places on factories and goods, more ISM items, and Fed balance sheet issues.

We got the job number. We are going to look at the earnings coming out, average hourly earnings as said, weekly hours manufacturing, the payrolls, non-farm number, participation rate, and unemployment rate. All this stuff is coming out and we are going to be on the pulse making decisions for our clients and potential clients.

We are going to know what that means and where we are going during our process. We had some loans that were closing by the end. We didn’t have time to wait for the Fed meeting and the employment numbers. We had a close on our purchases. We closed with little to no points. We got the loan closed. They moved into their property. Everything worked. We got the rates as they were declining prior to them going up a little bit. We saved a lot of money.

That is what I want to do for you. I spend your money the way I spend mine, sparingly. I want value for my money, and so should you. Pick up the phone and give us a call now (888) 543-3980. We have been watching what’s been going on in the pulse when it comes to economic news and pricing. We have been finding when we have properties that are about $1 million and below, we are still finding multiple offers. They are bringing prices correctly.

When they are over $1 million, we are finding activities a little less, but we are not finding why the spread of differences in the values is going down. Bending on your pocket, we can run a report and subsidize what your realtor professional is doing. We can get you out of a 9 to 10-page report on the property address you are choosing so you can see past, present, and future ideas from the lending side as to what should be or looking to occur. We would like to get that information out to you.

You can send an email to Report@United4Loans.com. I’d love to talk to you more about that. My direct email is Michael@United4Loans.com. I mentioned about this perfect financial GPS program. Many of my meetings have been with individuals who have fantastic interest rates as compared to where the market is now, but they are looking at the debt and items picking up on one side of the other with student loan payments starting to come back on, you have credit card interest rates, minimum payment items and various other debt items that are holding them down.

It doesn’t make sense in some cases to refinance a 3 and go up to 7. In some cases, it may not make a bad situation if you have more discretionary money based upon the minimum payments on those double-digit interest rate items you had, and that’s an evaluation that we can make. Maybe it is getting an equity line, a home equity line of credit, which is a second mortgage. Getting that in place depends upon your equity position. We have home equity lines now that can go up to 95% combined loan-to-value.

It’s not my ideal situation to get you leveraged to that ability or that level, but if it’s getting you out from under these higher interest rates to allow discretionary money, then retire that debt sooner. Especially on a home equity line of credit when it’s interest-only. An interest-only loan. It’s not going any additional is going directly towards your principal. Plus, it was an interest-only loan, even if it was 10%, you are paying 10%.

If you have a mortgage at 3% and you have an amortized loan, you are paying sometimes 60% to 70% on that monthly payment. We can go over that math. I’m not looking for you to have a degree in finance, but I want to show you and illustrate to you how we can lower your obligations in debt and have smart money working for you. If anything makes more sense to you in this conversation is, eliminating interest sooner and allowing my money to stay with me longer. That is what I’m trying to allow you to do.

I’m going to be conducting a webinar. I’d like you to join us there. If you are interested in obtaining access, email me at Webinar@AheadForMoney.com. I want to get you access. We are going to discuss a financial GPS program, a perfect roadmap to your success. Once you attend that webinar at 6:00 PM, Tuesday night, for one hour, I would like to then get back to you to find out what you felt. then I’d like to meet with you specifically. Go over your wants and needs and where you are with your real estate life and your finances.

I want to map that out. I also want to show you a debt-free date. What we can do and how much money we can have you save utilizing these principles. There is no decision on Tuesday night. There is no decision on our first meeting. It’s information and education to allow you to better map your financial future. Let me have that window with you, (888) 543-3980 or Webinar@AheadForMoney.com.

Eliminate Debt, Create Wealth

We have had a lot of people very successfully moving forward. We have had real estate professionals, CPAs, certified financial planners, and insurance agents getting involved because their clients need this solution. They are able to talk to them about eliminating debt and creating wealth. Imagine, as a real estate agent or realtor, you have a client who’s buying their first home. They are getting a mortgage now at, let’s say, 5%, 6%, or 7%. Let’s say paying little to no cost to get in on points.

Now, they have a new payment. I was in the lobby with an individual saying he had a buddy who bought their first home. They were so excited, then he got his first mortgage statement. He’s scratching his head, going, “What did I do?” It’s not the after. It’s the before and understanding of what you are doing and the affordability then looking to eliminate. I may help you get into this obligation to leverage to get the property of your choice. I also want to get you out of that obligation in the cheapest way possible.

That’s his perfect financial GPS program. We are going to show you with discretionary monies of what you spend. We are not putting you on a diet or getting you on rice and beans and pork and beans. We are going to let you do what you do now but show you how a perfect financial GPS can get you to your destination of zero and create wealth. As an investor and a realtor, you have investors. We have individuals who are buying multiple doors and multiple properties, creating more income and paying off debt much sooner.

It can be an enhancement to your business. You can show people how they can afford a purchase loan, on a first-time home buyer, and have that perfect financial GPS. Some of you reading remember driving in your car. I used to have all those roadmaps in the glove compartment. You opened it up, and you couldn’t fit anything else in there because they all flew out and fell on you. You wanted to use one. You were opening up all over the dashboard. That was a problem. Now, people are on the telephone that are driving used to be, “They are doing everything else from this to that. What are we doing?”

You have the ability to leverage technology for that perfect outcome. When you are driving and you miss that turn. You have your navigation device on. It says, “Recalculate.” It’s trying to get you back to your destination in the fastest way possible. That is what we are doing here. Your GPS is in driving your car. You are still driving it on this financial navigation opportunity. You are still driving your finances, but it’s telling you the best way to get to your destination.

If you divert and do something different, it’s going to help you understand the best way to get back to the most optimal solution. It can look at future items if you are looking at buying, saving, vacation, or how to get what’s practical. You can do all of this within the program and this opportunity. I want to show you how this is possible. My personal remaining 26.4-month mortgage is being taken down to 7.8 years now.

I’m 7.8 years debt-free on my mortgage, and that’s not only the mortgage. That’s everything else. You have ongoing items that you will have, water, power, and all the other fun stuff that you have monthly. If you are eliminating these larger expenses, the auto, credit card, mortgage, or student loans. You will free up that cashflow. You have the ability to create wealth. Have the right retirement coverage, the right educational items that you need for your family, and the right opportunity in the right plan.

I want to talk to you and professionals. I want to talk with you about the opportunity for you to be able to show your clients what is possible. This episode is about what’s possible, and it is possible. I want to show you how you can finish on top of your finances and look at something a little bit differently. Maybe it’s not the same as it’s been shown or not even shown to you. You don’t have to do what is the bank’s plan.

You can choose door 2 or even door 3. You can eliminate that and create wealth. I want to talk to you about that opportunity at (888) 543-3980. I have been excited to meet with many clients. That’s a little different from the pandemic. I have been able to have personalized appointments and sit down with individuals. Seeing expressions on the face when we are saving money and closing on transactions.

When I see them getting the loan of their dreams and getting the house that they have been looking for. Even in this case, closing into weeks. We started the loan from start to finish and closed in two weeks. They are in their home. They are even looking at the opportunity of our perfect financial GPS, which will take their 30-year loan down to 8.9 years. You don’t need to have a mortgage to have this program benefits you.

Looking For Rate Options

I talked about the Fed rate hike. It’s the highest we have seen our rates in many years as our fight against inflation resumes. The Fed did resume by going up another quarter after taking a hiatus. It was a unanimous decision. We are seeing that occurring, and they didn’t count out future ones, depending upon data dependency. The more confident and the more economic news that comes out that’s not necessarily heading in the right direction in their accounts are slowing things down. They could potentially make another move.

When we are hitting the end of the rates cycle, the mortgage market seems to like that because then they see, “We peaked.” When the Fed now has left that back on the table, the mortgage market didn’t hate the news, but they didn’t necessarily fall in love with it either. We saw the interest rates meander and hang around where they have been. We are closing some loans here in the mid-higher sixes, depending on points or fees.

As you start looking at different rate options, we have to look at the recovery dates. If you are getting a $500,000 loan and spending 1 point, which is 1% of the loan amount of $5,000. How much is that $5,000 helping on the rate and what’s the monthly savings? Are you getting the money back in 13, 26, 39, 50, or 62 months? How long is it before spending that money is better for you? There’s a lot more that goes into it because you have to look at your timeline of owning the home. You have to look at the tax implications because you might have some tax benefits about spending some more money at the closing on that purchase.

Check with your tax preparer or local CPA for that or enrolled agent. You have to look at the overall net benefits and recovery because the last thing I want to do is go get you a loan that has a lower rate, paid a lot of money for it, and it’s not better for you for another 3 to 4 years. During those 3 to 4-year cycles, rates fall to what you bought it down to, and you could have done it anyway without paying the extra money.

We have to look at some of these items, and we will tug at those things from both sides. I will give you some input, but ultimately, the decisions are yours but it’s information and education. I will say it, I spend your money the way I spend mine, sparingly. I want value for my money, and so should you. I want to help give you the information you need to make the right decision. It’s not that decision you make and go, “Should I have done that?” I don’t want you wondering. I want you to be confident in your decision. Call us now at (888) 543-3980.

I was talking to a colleague, and I’m finding that we are getting a large amount of individuals getting items in the mail. If you have to look at the fine print on the bottom, that is a solicitation, and it’s a trigger lead, whether you had your credit run or went to the recording on your property. They are sending out, and in some cases, it looks like they are your current lender or the loan or the lender that you close your loan with.

You need to be very careful. I would have you get on the phone with the person who closed your loan and talk to them. You are going to get the straight scoop as long as they did you good or give us a call, and I will be gladly able to tell you whether that’s good, bad, or indifferent. In most cases, you need to opt-out. What happens is these lenders are looking for business. Business is tight and difficult now, so they are looking to obtain new business.

What I have done is I have had my clients if they are running their credit or thinking of running their credit. I need you to go to OptOutPrescreen.com. You can even call them at (888) 567-8688. That is opting you out. When we go through our process, I make sure you get opted out because I don’t need you to get 34 or 50 solicitations for people pretending that they have the best thing since sliced bread.

We have had one of our colleagues who is going through a home-buying process. They didn’t fill out the item. They didn’t make the call. They got solicited by an individual saying that their current lender was not able to help them because of this and this. She was doing her loan. You have to be very careful of what’s out there and not OGI. Going to make it all go away. I want to make sure you understand what it is and what’s occurring.

You also get a loan disclosure up front. A loan disclosure could read anything it wants to read. They have to disclose the fees and costs of third-party items. There’s sometimes no tolerance there that can be done, but a lot of times, it’s only as good as what the paper is. That’s you are locking and you are taking that rate, and you are done and getting a closing disclosure or lock disclosure.

I want to make sure that you are on the right path. I want to make sure the right items, the right fees, and your knowledge have been there because they are spending your money. I want to make sure your path is correct. We have had a number of loan disclosures that we have looked at in recent weeks, and we saw a lot of fluff. Sometimes, there are reasons for that because it’s there because you can’t add, but you could subtract. You have got to make sure you are working with someone reputable who’s going to give you that break of the market and follow through with that for you.

In doing this now and running in my 37th year. I have seen all the different stories of good, bad, and difference in evil. I want to make sure your money is spent right. I don’t mind evaluating and telling you that you are getting a good deal. Stay with who you are with. If I let you know something different, it’s your decision still. I’m hoping that somebody all of a sudden lowers their rates because you said something that you have to understand that they could have done that on their own, but it took you to notice to start saving.

That’s some of the morals, ethics, and items that I wrestle with when I hear colleagues all of a sudden lowering costs once you say something. They should be looking out for your best interest from day one. Throughout the transaction, I’m looking to make those decisions and looking to lower rates. We had a series of transactions that were all surrounding a timeline where I was expecting rates to move down. I let them know on a Thursday, rates were higher. I said, “It’s like the Wizard of Oz. Don’t pay attention to that man about the curtain.”

I want to make sure we wait and be patient. We had almost a 3.25% drop in rate and we were able to deliver and close, but I didn’t want them stressed. I wanted to echo that to them. I’m a technician in the market. I watched that on your behalf. It’s not, “I got an application. I will lock it in. Move next.” No. We want to make sure we save you money throughout the transaction. Call us now for your information, depending on what you want to do with your purchase, refinance, debt consolidation, equity line or equity loan, forward or reverse, (888) 543-3980.

I’m going to see if it’s even worthwhile for you to do it alone and rule that out first. We are going to go over income, credit, the value and equity position, and what it is you are looking to accomplish. We are going to evaluate all the money coming in and going out and we want to set up a perfect plan for you. You are going to get more than just, “Here’s our rate. Let’s close.” No. We are going to make sure you are good now and in the future.

If you are planning on purchasing or doing an item and you are having credit run by an agency or bureau. That agency or bureau is also looking perhaps to sell your information to those who are willing to pay. They get you the name of the list, and you are going through a transaction. Now you get everyone soliciting you and calling you throughout the day. That’s what I like you to try to avoid. If you want more information, give us a call, and we will help you with that, (888) 543-3980.

My goal is to help make things a little bit easier for you overall, whether you are going through a stressful transaction. My goal is to help it to be less stressful. If you just want that transaction to go right, we are going to follow what’s going on in your timeline to make sure we are able to do so. I mentioned a lot of things coming out, including employment items, at the end of the week. We are going to watch those carefully for the timing of our clients because the timing is so very important, but we only have the time that’s available based upon the limitations of your transaction.

If it’s a refinance, we have some time, but maybe you are looking to consolidate more expensive debt. Waiting is making it more costly. That’s where I go in and talk to you about a perfect financial GPS program. I mentioned that I’m going to be having a webinar. I like you to join us there at that webinar. Send me an email at Webinar@AheadForMoney.com. I want to help you understand what you can accomplish by seeing a perfect financial GPS program eliminating early interest.

I want you to turn up your volume by turning down your interest frequency. We need to get this done for you. You can retain more money, eliminate debt, and create wealth. We have individuals who don’t even own property that are taking 20 years or 15 years down to 3 years. We have individuals who have 30 years of mortgage multiple properties going down to 12 years multiple mortgages and being debt free in 12 years.

We have individuals who make a copy, take their last statements, and have a bonfire. Burning their last statement because of the celebration of being debt-free. Learning the principles and understanding how to get that done and watching a perfectly formulated math computational program that you can watch work for you. If I had mentioned to you that I could save you $50,000. You would say, “Wow.”

I’m telling people I can save them $100,000 or $200,000 and, in one case, $400,000. People who own multiple properties even $1 million in interest we saving. Let me show you how this can work for you with no obligation. Join us at the webinar. Email me directly Webinar@AheadForMoney.com. I will get you the access information, and I will meet you on that webinar. We are going to have a group there. We will go over it in general.

I’m looking to have an individual possible meeting with you at your convenience, then talk more specifically about what it can do for you. Originally, I want you to get acclimated. I want you to take a look at a few different links and items. I can get those out to you, but I’m making sure we are saving you money upfront and eliminating as much of that interest over the life and sooner for your loan.

Cautiously Looking Ahead

I mentioned that we have Chicago PMI coming out, the ISM index, ADP National Employment Report, jobless claims productivity, Global S&P, PMI, ISM service index, and we have the employment report with average work week and hourly earnings coming out a month over month as well, non-farm payroll, and the unemployment rate.

We will dive more into those items and what those mean as far as what the Feds going to do going out in the future. The Fed just went up 25%. Again, that hits the consumer side. The mortgage side is going, “We are almost done.” We are relaxing a little bit more than we have been understanding where that is, but we are watching what’s going on with the economic news to find out if it’s working in these other moves that they have been doing, have started to filter through the system fully.

It’s watching that hot water getting too hot before it’s scolding hot, so they have to dial it back. They haven’t quite gotten the dial-back yet, and they are not seeing that result. We have gone tremendously down to 3% on the inflationary numbers year over year. Overall, we are still a little hotter than they want to be. They are trying to tone it back a little bit. Before then, they have gone too far, and then we start easing the other way.

We are not there yet, but the mortgage markets looking six months in advance. We are seeing interest rates could be lower than they are now. If the opportunity is right, you should pull the trigger, but I’m cautiously telling you that you don’t want to spend a lot of money on clothes. Sometimes, the numbers are forcing smaller amounts of money too close in order to gain the right number because we have to look at the recovery time, so we are watching that very carefully.

Between the economic news coming out, the prime now being at 8.5%, we are seeing a growing number of individuals now looking at lines of credit and utilizing the equity in their home to pay off more expensive debt, creating more discretionary money to allow higher debt that remains including the first mortgage to then be eliminated.

Attacking early interest to then get to the meat of the principle of that loan. Most people think that 2.75% or, 3% or 4% loan is their cheapest debt. In the earlier years, it was their most expensive debt because it was an amortized loan, interest rate versus interest volume. I like you to understand those principles. An equity line of 10% is cheaper than an amortized loan at 3%. What do you mean the higher rates are better? It’s how that rate is set up.

If you are paying 10% interest only for a 10-year cycle on your equity line. Before then, it becomes a fully amortized payoff. That ten years allows you a level interest rate across the board, but I challenge you. Take a look at your mortgage statement and pull that out. Take a look at your gross payment. Not including taxes and insurance if you have impounds, but take that payment, principal, and interest payment. What percentage of your interest is of that gross payment? If you do the math and do the division, you are going to find it over 50%, 60%, or 70% in some cases, maybe even over 80%.

That doesn’t sound like 3% to me. I want to show you how we can decrease that early interest, attack it, and get you further down the amortization schedule to help pay off that loan sooner and attack the principal. Let’s talk, (888) 543-3980. You can email me directly at Michael@United4Loans.com. If you want to see a friendly informational item on a Tuesday at 6:00 PM. I can send you some links and some items to do the work on your own so that you can tell me what you think and if it’s possible that we can have an individual meeting. Use Webinar@AheadForMoney.com.

Also, additionally, if you request that email the initial links. I can send that to you so you are a little bit more familiar with it if that’s your intent. I’m more than happy to send you this information. We have been very busy with our calendar and scheduling. I want to make sure we get this information out to as many people as possible as we hit the summer months, and various things are becoming more of a challenge.

Homeowner’s Insurance

Have you looked at your insurance or your homeowner’s insurance? You are saying, “Why should I? The renewal is not up.” Can you look at your homeowner’s insurance, look at the payment you pay now, and maybe just call your agent and ask them, “What do you think the payments are going to be at renewal?” I will just leave you to that part.

Make sure you are on time if you pay your payments monthly, quarterly, annually, or semi-annually because many of your insurers are looking to pull out of the market. No longer writing. They are looking for a reason not to write. Not your agent, but perhaps the captive company that they are working with or for. Make sure you are looking good at that. Florida even has more problems than we do in that respect. They have a large percentage now on their state plan.

You have had other carriers pulling out of the market. Farmers had pulled out of Florida, not only for homeowners insurance but life insurance. They pulled out of everything. You are finding carriers pulling out and competition being less. It means prices are going up. I believe farmers in Southern California have limited to $7,000 policies a month being written. You have State Farm and all states that have pulled out for new homeowners insurance.

Watch what you are doing, but if you have homeowner’s insurance and you put things together, make sure that it’s not affecting the rates on your other items. Stay ahead. Let’s make sure you are okay. I don’t want you to have a panic and a problem in the future. I don’t sell property in casualty. I’m letting you know as we are doing purchase loans and getting people started by having homeowner’s insurance, we are finding that the normal $2,200 policy went up to $3,400.

I don’t sound like a lot, but it is. Think of the percentage. When you have 40%, 50%, or 60% increases, in some cases over, we can’t write then they are looking elsewhere. We added one couple who was going to their normal insurance carrier who wasn’t writing new homeowners insurance. When they sold their property, they got a new policy with someone else, and all of a sudden, their auto rates went up. Now they are auto rates went up, and all the other stuff went up because they don’t have a homeowner’s policy. You don’t offer it.

That’s what happened and that’s what we are seeing. You need to take that step early in your process, depending on where you are looking to buy, the location of the property, and the ability to obtain insurance. You want to talk to your real estate professional for referral if you don’t have it or your lender like myself, where we can refer you to other individuals that we know are coming through and offering solutions.

I challenge you to call now and get your place with our number so you can talk to us when you are ready. You may be on your way to work, to breakfast, or doing some home improvement, but be careful of the weather. It’s hot. It’s get it done early, then come back in. Right down the number, (888) 543-3980, or even hand the phone to the person next to you. Let’s get the number in. You can hit send, go ahead, and hang up on me. It’s not the first time. Go ahead and do that, or leave a message letting me know what you are interested in. Are you looking to purchase, refinance, possibly do debt consolidation, or do home improvement? Maybe you are looking for that perfect financial GPS program that’s going to guide you.

I always like a person who is there, silent and smarter than me in the room. That’s why I move forward. I was able to do a lot of these ideas and principles as I’m in tune with those, but I was leaving about 2 to 3 years on the table. That extra 2 to 3 years on my mortgage payments, it’s a lot of money. I’m saving a lot more money, and now I have that perfect financial partner who’s guiding me through 24/7 with direct access, secure with none of my personal information showing other than a nice accounting system.

I am getting so much out of this, and I want to share that with you. For a perfect financial GPS program, call me now at (888) 543-3980. You do not need to be a new client or a past client. You need to be able to say, “I got debt and I want to get rid of it. What can I do?” I’m not looking to take your business away from someone that you have been working with, but if they are not offering you the ability to get out of debt and create wealth sooner. I want to fill that void or educate you as to whether you bring that to them.

We have other mortgage professionals who have their clients looking at these opportunities, and I’m bringing it to my competition, my colleagues, and my other loan professionals because I want to make sure they are able to do what’s best for you. If I don’t write the loan, so be it, but you should be able to do the right thing with that loan once you have it. I do look forward to talking to my colleagues and other loan professionals who want to offer this capability to their clients and have their clients protected. They are your clients. They are not mine.

They are yours and I want to show you how that can be done. If you are a real estate agent or realtor, I want to do the same thing for your clients coming in. I would love to write the loan, but if you have an investor who pays cash, and does this and this, if there’s no loan involved, I’m okay because it’s helping you. It’s helping you and your client in the long run. I want you to have this in your arsenal.

This information that your clients need and should value that they need to know it’s there. Pick up the phone now, everyone, (888) 543-3980. The team is handling calls. Once the show is over, I will be picking up the phones and answering the calls directly myself. You will get an email back, get a callback, and get communication because that’s what I will do. My day doesn’t stop until every one of you has your concerns, answers, or questions. Anything you need, we are going to supply that information. I have been doing it now for years. I want to help you. Thank you so much for joining us. Until the next episode. What loan do you have?

Important Links

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