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Your Financial Pharmacist

Nov 18, 2021

Tony Umholtz talks through five steps for getting ready for a home purchase. 

Key Points From This Episode

  • Why now is a good time to buy a home.
  • Where you can find out the average interest rates in the home loan industry.
  • Tony explains what discount points are and why you need to understand them. 
  • The importance of reading the fine print. 
  • Know your budget!
  • How lenders determine how much they are going to lend.
  • What the 28/36 rule is. 
  • Tony runs through the pros and cons of a 20% down payment. 
  • How savvy investors look at returns. 
  • Comparing pre-approval and pre-qualification. 
  • The value of a credit report.
  • How lenders work out your credit score, and why this differs from what you will see if you use a monitoring service. 
  • Examples of the different types of lenders that exist. 
  • Information that you will need to provide to the lender you choose once you have a property under contract. 

Links Mentioned in Today’s Episode