On this episode of the Loans Elevated podcast, Broch brings us through why interest rates don’t always matter on a mortgage, and shares with us how sever clients refinanced and their interest rates went up.
Broch talks about how one of his clients took a refinancing with a 1.25% higher interest rate than their current mortgage and a bump to $750/month repayments. But because their equity had increased and they combined their debts into their mortgage, they eliminated debts of $2800/month, freeing up $2050/month, which they reinvested into the mortgage, enabling them to pay off in 11 years and save $420,000
Another example her shares is of someone who bought their house in 2007 at the peak, but they held and continued paying after the market slid, amortising their debt. After 5-7 years they could cash out with hundreds of thousands of dollars and it was a case of rinse and repeat from their.
🎙 Welcome to the Loans Elevated Podcast!
Your go-to source for expert insights on mortgages, real estate trends, and home financing strategies. Whether you're a first-time homebuyer, real estate agent, or seasoned investor, we break down key topics to help you make informed financial decisions.
💡 Have a topic you'd like us to cover? Send us a message on Instagram or Facebook @loanselevated!
🔗 Get all our links in one place: LassigTeam.com
👉 If you find value in our content, be sure to FOLLOW the podcast and leave a review! It helps us reach more listeners like you.
Hosted by:
📢 Broch Lassig, Branch Manager NMLS340314
📢 TJ Heidenreich, Sales Manager NMLS1802412
📢 Ryan King, Loan Officer NMLS1870771
Branch NMLS2048956
Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details.
CrossCountry Mortgage, LLC. NMLS3029 (www.nmlsconsumeraccess.org)
🔹 Disclaimer: The information in this podcast is for educational purposes only and not a substitute for professional financial, legal, or tax advice. Always consult with a qualified professional before making financial decisions.
