Oct 28, 2023
Loan officer Jack Bowers (NMLS# 1957264) joins the show to talk about the evolving lending landscape and changes in house hacking investing.
Episode Summary
As we near the end of 2023 and anticipate 2024, the lending landscape is undergoing significant changes. Conventional mortgage underwriting guidelines are evolving, impacting down payments and cash-out refinance considerations, especially for owner-occupants in small multifamily houses. Today, we're joined by Jack Bowers (NMLS# 1957264), a loan officer from Union Home Mortgage, who provides some key insights into these changes. In our conversation, we explore historical interest rates in relation to where they are now, house hacking, and corresponding lending options, along with nuances in different loan programs. Jack also outlines Ohio-specific programs for first-time homebuyers and walks us through a practical example. He advises on buying fixer-uppers and the shifting cash-out refinance strategy, and shares valuable advice for those considering the real estate investment journey!
About Today's Guest
Jack Bowers is a Loan Officer with Union Home Mortgage who has been in the mortgage industry for over 3 years and has helped hundreds of families directly & through his work on a top-producing team. Jack grew up in Northeast Ohio and earned his Bachelor of Science (Major in Fashion Merchandising, Minor in Marketing) from and played rugby for Kent State University.
Mentioned on the Show