Life as you -- with mark McDougal and Craig Miller. Remember you got questions we've got answers 804924664. You may not take time to educate yourself up the single worst investment and opportunity you have. That investment in the roof of your head in real estate we talk about your home financing make investments real estate we keep the -- you know it's just good old fashion. The all right it is likely you ought to know mark McDougal and Craig Miller is -- on vacation again well I'm sure he's working somewhere countries working hard night. He is not in the studio plot. We've got a couple. A couple of friends in the studio today Allen introduced Dan Lynch. Lynch real estate Qaeda and am doing great great aren't what order in here today what we appreciate you well -- NN actually danced not technically filled in for anybody special guest disease. One of the top producing realtors in the Kansas City metro. -- to share their first time homebuyers. Five tips five things they need to be at considering looking out for a when they're gonna make first purchase their first home purchase and we've also detonating Carlyle. Give shout out of the fans Nathan. Oh my gosh. He's -- eyes of the child ladies pay attention he's he's shy guy that you gotta watch out for Nathan. Okay what you're turning in for the first time we appreciate it's we are now spanning the globe on I heart radio and 33 affiliates. Throughout the midwest and Alabama an Ohio so while we encourage you if you're driving through one of those cities are your chicken has found out 'cause out on I heart radio. Please reach out your local affiliate tell him you want like -- you -- it in your market if it's not there yet. We want your feedback reach out to his 804924664. Or go to the website like this you own it dot com you couldn't if you got questions. -- -- you we've got some answers they may be good Wednesday may be bad ones but they'll be straight from the heart. So -- We begin our three part series about first time home -- -- or for first time home buyers. Just last week and the recap of last week is are you ready we shared the nine steps on the journey of buying your first home. So technically nine steps probably doesn't qualify as a journey. But it's were gonna go with that is as is is a journey to via a first alma and I think of nine steps as 12345. Sick like nine steps and a walk. Not really journey is it. But can we go making authorized by news that. Sounds good as homeownership Vermont is a journey that's okay come out we also shared some great calculators so you can do the math yourself. As the weather ranting is better than buying up for you remember. Garbage in. Garbage out it's all about putting in the right numbers and these tools will help you make the right choice check out the website like -- you own dot com and you've also got a link to the podcast. Seeking your all of the other great first time home our information -- from the first part of our three part series just last week. Just a special guest is I've mentioned in the studio today realtor Dan Lynch. And of today his partner in crime Nathan Carlyle I'm Dan has been in the top ten realtors in the greater metropolitan area of Kansas City for the last six years. Last two years grossing over fifty million in sales each year. That means he has a full time coach Bob Stella real estate. Last year he had also over 300 transact transactions easier this year with our listeners five important considerations. When searching for that first home to think about buying -- thinking of buying your first home and you've not saved enough for a large down payment or may be. No down payment at all -- Carlyle certified mortgage planner with first trust mortgage. Tell you about couple programs that -- zero. Down payment 30 and also. Your -- down payment option that is readily available with less restrictions. Than the first two. Her first time -- one of these markets you might. Just might be able to get a great deal but be careful we've all heard about the falling knife. We've got the five worst markets for Q4. 2013. In the United States so might be an opportunity. Then again it might not that's why when console with a real turn your financial advisor before you make a a decision and -- get a home be romantic. Absolutely. Okay you. Delicate Williams you've got an -- commonly -- to see ya can't. What we've got five cities were surprising number of listings. Seemed to think so. So while we're gonna share that later in the hour and remember we've got your should you stay or should you go scenarios. Real life scenarios where -- We're gonna use it -- you tell us otherwise got a lot of great questions that you're gonna -- on air in the should he stay or should you go scenario. End what else average interest rates were gonna share those with the use -- you know where they're trending. And it might give you an indication as to whether you're getting a good deal or not. Cell Nathan stepped up on the Mike here to ditch on the hot seat just a little bit. Go ahead and tell our listeners that means you move a little -- step up to my means get your mouth a little bit closer the Mike. You don't talk as loud as being serious subject close to the night. So what inch fish yourself broke quick you're -- car lighter certified mortgage planning and woody what does a certified mortgage planner first restive. We consult with that homebuyers nature that is in those programs are right. Good a man of few words. -- and Deanna again thanks for joining -- in and we think someone it's selling fifty million dollars in real estate per year and 360 transactions you've probably dealt with just a few first time home are right. Just a -- How many have what do you say near. How long is your career -- we've I've been doing this for fourteen years now so this is my fourteenth year and we've. Circling. Probably over half of the customers that I dealt with the them first time homebuyers so so whether it's. 60700. For a 1001 time home buyers say you have you've helped him through this big decision. Yes absolutely love we're going personal -- Get an opportunity to educate and to get them on the right path so that they're not just your customers today but their customers in the future and you can tell. -- talks a lot or he's also a football coach could you have a little bit of FO -- -- have you been -- -- wrestling and Rel are regular ball leaves it up. And that he's got back. I'm I'm still coaching or used to coach support and -- that's applicable is almost shot used to coach now and a maximum it's it is is that yeah. So it apparently you yelled occasionally want to -- her husband's. Don't originate in your what is your voice anytime soon I don't think I have made that you're not -- -- OK so I'm not. Let's jump right into those average interest rates folks because remember if you're in the middle of a transaction whether to purchase or refinance. You've got to make sure you do the math we recommend you utilize the breakeven formula. If you're gonna pay a point on that purchase repair a bunch of fees on the purchase. Identify how long it will take if you compare the no cost more than no point loan. Vs the one we are paying 2345000. Dollars and if your breakeven period. Is longer. And then it should be for you to get ahead in others it -- seven years to now recoup the 4000 dollars in fees by a thirty dollar difference a month savings. And it's probably not a good investment for you so again you can check this worry about it like it you -- it dot com do the math. So average interest rates on thirty year fixed. Our. Four point 47 just under four and a half percent on a 200000 and for all these these loans -- is -- 200000 dollar on loan amount. An 80% loan to value that means you've got a minimum 20% equity on minimum 760 credit score and this is on a thirty year fixed and you're also paying some points. And I'll give that average -- and fees closing costs can range anywhere from 2000 dollars and the low end. Up to 45 or 6000 dollars you've got to be educated got to look at the numbers so national average on a thirty year fixed is just under four and a half percent. Charging at just under one point so actually it's what caught recourse to a point so it's record a -- -- -- thousand are alone is 15100 dollars plus those closing costs. So. Fifteen year. Three point 62 so we just under what -- three and five eights. On -- and that is charging right at three quarters of a point also so 15100 dollars plus. The extra fees that the lender may charge to due to transaction and a 51 arm is right at three and a half percent charging. Half percent now folks remember these are the national. Averages on a 200000 with the very best. Credit score so you've got to make sure the you do the math due to breakeven formula and that -- offering that you're -- you're getting it may sound great may sound it's an eight lower than the other one but if you don't do the -- you may end up paying a lot more than you planned on over the life of that loan. All right folks were getting were up on the they broke. Coming up against our first break when we come back we're going to why not only probably have a should you stay or should you go segment. But Ross gonna start getting that information those first time vote homebuyers. Need to hear from real true guest Dan Lynch. Stay tune back in a few. And -- And -- And then. Like zero and I'm mark McDougal that and I've got Nathan Carlyle and Dan Lynch with links real estate. They were focused on -- you -- the first time home buyer. You with the parents and friends of first time home buyers so you can share this information. And any views that are just interested in being a more sophisticated and savvy consumer the next time you buy a house I think this is great information. Sedan. We've given little bit of background I knew you Laura successful realtor in the Kansas City market which. Those of you that may or may not know we drop Kansas City occasionally because. That's where we and that's where we're from that intergalactic headquarters of the life issue pony show are right here in the heartland. Were strategically location positions that we can distribute it equally throughout the United States all the love that we have like that mentioning and yeah. I'm so lie as as we sometimes bring in professionals from this market professionals on a national basis also were very selective they've got to be people that have shown that. Donald they have eighty. High degree of success in their profession but they also what have a high value of advice that they're capable of giving so. -- handle pressure there and that's why you're here today so I'm or good jump but we're gonna jump right and we're not gonna jump right in just yet. This is the -- you stay or should you go segment remember you send us your scenario. -- how much you -- your house your current interest rates. What you believe the house's worth and the term and we will let you know if you should stay or go remember you can even tell us about your love relationship with Turkey she. Move out of the house from move on down the road. Our -- hearing from Columbus, Ohio emailed the following question. I'm unfortunately in the middle of a divorce and I'm trying to decide if I keep the house. And take over the mortgage or if I leave it to my acts it is a two bedroom two bath and I love the house Minnesota's my soon to be acts. Also -- 160000. On it and agreed it is probably what it would self war. Just talked to show for the first time last week and it sounds like you guys really care thanks -- -- -- she's doing a nice. Nice comment there than thank you very much care for that I am sorry you're going through a difficult life transition like this. And in the spirit of should you stay or should -- ago. Quick answers I'm gonna tell you should go. Now I'm not negotiating on your behalf. Unless you are the person that is sending me your question and you are in the scenario so. Go the the house is worth 160 that means if you sell it for 160 you're gonna pay real estate commissions the chance that if you agree it's worth about sixty that ultimately cells spread -- Is probably slim and so based upon the limited information I have. Go. Makes sense Nathan or for any questions all right. Remember folks if you got a scenario run it by as we will give you a quick answer and will always tell you. Console your local real estate professional consult a certified mortgage planner because there is much more to the story but. In the short answer move on down the road to Daryn good luck to you. Okay all right Dan you ready we -- we wanna share you were kind enough to well put together your kind of top five. Suggestions. That you have for first time homebuyers. So let's let's move on with those -- and number one K one. Things that so important probably the first thing is the you need to pick the area that you -- -- and that once you pick the area than you can establish what loan programs are available in an area. And you can get with your realtor or your loan officer and but we should get approved so when you're in -- process so it with a loan officer and that the realtor and I'll tell you the programs like. If you're in Kansas City, Kansas -- -- the program it probably is as of three now percent FHA program. I'm mr. or you can use of other programs that are too but it there's not a 100% program there -- other than a DNA. But if you come outside of Kansas City area and you'll be able to do -- percent rule. Program which allows you. To no money down and basically get into the house for closing costs. Hands if it works out to be a wonderful program soon it just depends so once you establish an area that you want to BN. But then you can get a loan programs that will work for that particular area. So. Can I like number one is sound connect with her. And -- identify. Kind of what area you're looking in and that real African also talks to. The overview of those programs that may be available. To you. So how does one find it that realtor and you can do your searches on the Internet that's probably the number one way folks do it and sometimes you drive to the area. And you see you the dominant realtor in the area a lot of times that's how people pick the realtor. Is -- when somebody that's active in the market Summers knowledgeable. And the -- the Internet you can kind of get people Brazil -- to people through Trulia. It's not necessarily somebody that's knowledgeable in the area. Soon we'll ask your friends and then you're neighbors and -- loan officers they'll all meadow. Who's out there is on -- agent who doesn't were you know it as a part time and who doesn't full time. And then that makes a big difference you want somebody that's on me you were signed trains. China hoped you had this largest investment that you make in your life it's the biggest economic decisions that you want to make sure. That's. You're getting somebody the is going to lead you in the right direction. And whenever you mentioned job of the first thing you said this Dick connected with the real -- with cannot touch and that also click. In getting connected with them how important visits to work with someone that knows the market you're looking and so -- If bomb but we're looking in not Columbus, Ohio or Republican in a suburb that's sixty miles south of Columbus, Ohio. How important is it -- to find a real turn one of those marketplaces. If you have a realtors unfamiliar with that you may miss some of the loan programs that are available to you. Any -- and you can have a good loan officer and they may bridged that -- some it's the realtor makes a big difference in helping you picked the right loan program for you and the between you and the loan officer and you can you can get that and if you get somebody that's out of the area that is don't have -- -- strike. And it ideally they help find the right house to my business and right Oprah. Moderate document passed -- -- now Obama. As in there's more to the island's first pick in the right house you know win when someone's when cheers defying the area of the U wanna be and I always recommend the folks. Driver around the in the area and and not just drive around. During you know Saturday morning driver on Thursday night and find out what -- is really like. There there can be big differences I mean if it's important for years it's. Kids out playing in the street you know. You may wanna drive there after school hours and find out. You know what's going on in that neighborhood if that's something that's not important in the obviously you know. -- you see that you don't want to CNN area so far anyway I think I think. It's very important OK so it sounds like another good one is as you mention is Mikey just said drive through the neighborhoods are considering at different times today. On that allows you kind of see if the lifestyle works where you. -- -- just have a good one true and get knowledgeable we're gonna get another one here and get knowledgeable about the community find out that the community offers the types of things that you're looking for. They can be schools that can be churches that could be there's a lot of different things that you know it could be just lifestyle you may want. A lifestyle that's more disconnected from the world and you know -- mayberry type town and to get that. -- -- the driver around doing so okay. What about once vs needs what are you would you recommend there as far as. Did she make a list or -- that an important part for first time -- Omar. Yeah absolutely. And you know again. People. If -- tend to. If you're looking for a three bedroom four bedroom. You know get on the Internet work as a -- have them set up -- search for -- for the area so you can see the product that's available in there in the area. And when. You determine basically you want a four bedroom and see if that's within your price range in the community and if you're gonna have to -- older you buy new. There is yes he -- -- community has offered you. Okay and doubt one of the components that you mentioned in the first McKenna blended together was you say -- connect with the real her and he also mentioned. Vote loan officer do you do you recommend getting preapproved. Early in the game after they've met with a real terror. What's that look like I absolutely recommend getting preapproved knowing what you can do my handle an officer and usually the agent. Can help direct you and that and and a blank. And just as agents and usually that -- loan officers that knows the area. All right. Back with more when we return -- -- you own it.