The Mortgage Brothers Show

Did you know it’s possible to skip two mortgage payments? Well, we’re going to dig into just how you can do that.

Sometimes a borrower feels that the only way they can win a house is to pay cash for it. They’ve been beaten before. They’d found their perfect home, but they just couldn’t compete. Most times you’ll find that dream house again. We find there’s time, that when people do, they don’t want to mess around, they want to pay in cash. They have access to it, but it’s not theirs, rather it’s, say, their parents or a family member’s. They know they need to do something with a loan, but they’re not sure how to go about it. So, they reach out to us and we get the question of how to buy a house with a cash offer while simultaneously getting mortgage financing.

In this episode, we covered mortgage recasts. Normally, this question comes up when a borrower has newly come into a lump sum of money, be it from a recent inheritance, a bonus, or through selling a house, and are interested in a principal reduction.

There two common ways of dealing with the new influx of cash: 1) Recasting your mortgage, 2) Paying down on the principal without a recast

You can think of grossing up as extra credit. Now, this isn’t extra money. It doesn’t go into your bank account, but it is an additional amount we can put on paper when it comes to applying for a loan.

In this episode, we’re talking about splitting up your mortgage payments. There is a lot of ideas and strategies out there on how to pay off your mortgage early, and one of the top questions we receive is around changing up your once per month payments, and breaking it up into bi-weekly mortgage payments. Does it help? Does it save you money? Let’s dig in break it all down.

In this week’s episode, we went over a common question we get asked all the time: How fast can we close on your mortgage loan for a home purchase?

We’ve heard every variation of this: I need it real quick, I heard someone online can do it in a week, I need to buy the house right now.

And we’re not surprised.

One question we get a lot of the time is why is my mortgage payoff higher than my mortgage statement balance? Why is it higher than I thought? Some people have asked us if part of this balance is a markup or overage on our behalf. So, let’s just get that right out of the way. It’s not. The difference is not due to any markup or overage. We don’t keep anything.

So, what gives?

What is the difference between a mortgage broker and a mortgage banker? What are you? Are you a banker or are you a broker that is the question.

In this episode of the mortgage brothers podcast we discuss the pros and cons of going with a mortgage banker vs a mortgage broker for your next home purchase or refinance. Watch the video above for all the details. Below are the highlights.

In this episode, we’re talking about Mini Cashout Refinancing, what it means, the two ways you can use it, and how it can be used to lower your interest rate. Mini Cashouts, are something we came up with, and we’re here to share with you! This episode is all about how to use a mini cashout as a way to take cash out at the lowest interest rates available. We’re going to show two different scenarios. One using the average median home price at $300,000 and on the high end, with a $600,000 home.

In this episode, we’re covering everything you need to know about getting a mortgage during the time of a job transition. Whether you’re relocating to a new town for a job, or are simply in the process of purchasing a new home in your city. We’ll share everything you want to know about how a new job can affect a new mortgage.

In this episode, we’re answering a question we’re asked about pretty frequently, especially around tax season, “If I have a mortgage, do I get a mortgage interest write-off?” We’re sharing why mortgage interest tax deductions are a big deal, and how your mortgage interest can help you during tax season!

One of the questions that are happening frequently in this COVID-19 environment is about “what happens if you have a mortgage and it is in forbearance?” In response to these financial hardships, the federal government has announced plans that offer relief to many homeowners who aren’t able to keep up with their mortgage payments. In this episode, we’ll share how forbearance influences conventional mortgages.

In this episode of “The Mortgage Brothers Show” we answer the question that people ask not only us – but their friends, their relatives, themselves, their spouses, etc; “Is real estate the best way to build wealth?” We’ll break down the 5 main advantages of real estate investing, from real estate investment loans to using 401k money towards a home purchase.

In this episode, we work through one of the most common questions we get: should you use 401k funds to purchase a home. It’s a touchy subject, so we decided to breakdown a scenario for you and compare side by side the returns in real estate vs. your 401k.