Tony Umholtz talks through how to determine how much home you can afford.
Key Points From This Episode
- An overview of today's guest, Tony Umholtz.
- How the real estate purchase market has not slowed down but refinancing has.
- Why we are in a seller's market.
- What rate hikes mean and the impact they have on mortgage rates.
- The impact inflation will have on rates.
- Why locking as soon as possible is preferable when purchasing a home.
- What the 28-36 rule is.
- What banks consider when you apply for a home loan and what factors are more important.
- How the appraisal gap affects the market.
- The importance of considering expenses, fixed and variable, other than the loan.
- How insurance changes depending on what part of the USA you are in.
- The danger of over-committing to personal property insurance.
- The effect of property value on tax and how that changes from state to state.
- An overview of the pharmacist home loan product Tony offers through First Horizon.
Links Mentioned in Today's Episode
