Today on NJ Real Estate Radio we get to interview author and accomplished mortgage professional Louis Soto, a Certified Mortgage Planning Specialist® and Vice President of Mortgage Plus Financial Group.
In his book, Mortgage Matters: Strategies to Successful Mortgage Planning in a Post Mortgage Meltdown Market, Louis shares his insights on the state of the mortgage market and how to use mortgage planning strategies to avoid costly errors. Louis contests that the mortgage and housing landscape has changed significantly (AGREED) and understanding the “new” rules is essential to owning real estate now and in the near future. Many of the ideas in his book are the result of problem solving discussions he had on his Radio Show: “Mortgage Matters.”
Today, we get to ask a number of questions, questions that I hope represent your concerns when it comes to home-ownership.
As a active NJ Real Estate Agent, I can say for certain that I encounter a number of common questions or concerns on a regular basis from all types of buyers. Of those common questions, I find myself answering the following few. I hope today’s insights answers your concerns and that if you have an opportunity, you can pick up Louis’s Book, which is provided outlines for planning for successful home ownership.
Here’s a sample of some of the questions we will ask today and you can listen along at 12p.m. EST or download it at http://www.BlogTalkRadio.com/njretoday
- How much down payment do I need, is required, is recommended to make a home purchase?
- Does it matter if I seek financing through a bank or mortgage broker?
- Should I be shopping more than just the interest rate?
- When can I refinance? And when does it make sense to refi?
- If I have multiple inquiries into my credit, will that affect my score?
- How often does my credit score resets itself?
- If I buy an owner occupied multifamily, how much of the rental income can I use to qualify for the purchase of the property?
- What are some of the ways one can rebuild credit?
- Is this the market for real estate speculation? What should investors be wary of?
- Recovering from short sale and foreclosure. How should former homeowners rebuild, prepare for future home-ownership?
If you have a specific questions that we did not cover above, please ask Louis directly:
Mortgage Factor Chart
Debt to Income Worksheet
DEBT RATIO REDUCTION WORKSHEET
Emergency Plan Strategies
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