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KMBZ>Audio & Video on Demand>>Life As You Own It 2.20.14 Segment 3

Life As You Own It 2.20.14 Segment 3

Feb 20, 2014|

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  1. Life As You Own It10.24.14 Segment 2

    Audio

    Fri, 24 Oct 2014

     

    interest rates found at 1:48, 2:48, 7:54

    May be conventional but there's going to be some significant adjustments to interest rates . In a situation like this you're gonna wanna have a significant down payment if you're trying to go conventional because most mortgage
    a little bit now you're able to get a little bit better interest rates you're able to get the mortgage insurance products that are out there. And and it's going to be more formal process remind them home now 700 above is is really ideally where you wanna beat. And we tell you there's adjustments 707 when he sat between a 7474. You know above typically 760 or higher. He would qualify for the lowest PMI rates if you're not put in 20% and you can get the lowest mortgage insurance rates. Just gonna qualify for the lowest interest rates . 74760. There are some minor adjustments and once you get under 740 even though somebody with a 725 would be considered good credit score . He will pay slightly higher interest rates may even an eighth of a point higher the somebody with a 740 some odd score. You're over 700 but not quite the 720. You're probably paying about a quarter point higher rate than your neighbor who might have that 74575760. Score how much is an impact. Q well a 200000 dollar loan now thirty bucks so month. And I overtime nets in and a so it's important maximize the scores folks into get your foot in the door and deeply wanna be keep in mind to use that if you have a 76 year our credit score . Or 740 or seven when he or anything in there. Government loans there's not an adjustment so once you qualify for getting
    ugly Chris or what's gonna happen well you got some real pretty credit score a threat to get through pretty Chris the war. Anyway that much of the southern accent housing you got a real pretty credit score I don't know which your hand what's that mean mighty sale like that. Because I'm from the south right so all it does happen well we get this question a lot mark and you've got the answer what's it gonna be the effect with that. Lower spouse score well it is going to impair your ability possibly be at alone and it's definitely gonna hate you or interest rates they're gonna take the anyone who's gonna take the lower. Median score some median is gonna be that middle score. So if you've got to if you personally have a. 76740. And a 750. Your mid score is 750 if your spouse has a 68630. You know 610. His or her mid score is 630. So that means they're gonna have to they're gonna grade you as credit worthiness of a 630. Credit score which is going to make you work. Deal not real attractive if you even qualify. So yes it can edit what what
  2. Life As You Own It10.24.14 Segment 1

    Audio

    Fri, 24 Oct 2014

     

    john mark found at 10:16

    its keep on keep it on him. All right we're back live John Mark McDougal that I joined by Rosa vote you're filling in for Craig Miller we thank you for hanging out with a as
  3. Life As You Own It10.24.14 Segment 3

    Audio

    Fri, 24 Oct 2014

     

    tax efficient found at 4:23

    have more complexity but you have more opportunity. To put things any tax efficient fashion into you were the state. And to you know that's all we want avoid tax man pass on the warriors take
  4. Life As You Own It 10.17.14 Segment 2

    Audio

    Thu, 23 Oct 2014

     

    investment properties found at 12:36, 13:08

    hearts go South Carolina called the hotline to ask I purchase cheap investment properties in the last year and a and a total of five properties now. Including my house I live. I had mortgages on
    it to work at a higher rate of return and what does investment properties are yielding. And ideally they were cash flowing before you got this inheritance if not need to sell it anyway. And if they were your major money there. Get this inheritance to work for you at a higher rate of return then now what's writing off that expense for those investment properties is costing him so. You need to go you need to stay stay stay stay invest that money work with the financial
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Automatically Generated Transcript (may not be 100% accurate)

-- Scheme. In. In there and flew. Mirror and I. All right his last segment of life that you -- it we are very appreciative to have some guests to fill the shoes of dragging. Since Craig's not here I'm gonna say that they didn't only filled issues they split the issue sounds. And you know when you see the little little golden baby issues beat you you usually get as a gift his -- about that size just getting not. So thanks again for -- and as Dan and -- then you guys have done tremendous work today and I'm certain that our listeners will benefit from a -- -- -- -- And I also got out of the last few bits of information -- share were listening audience and the first one is. We talked about those potential opportunities. In those five markets that as of Q4 2013. -- Were the worst it now nationally. On my home values rose ten point 1%. In the fourth quarter of 2013. On the compared with the same period of 2012. So year over year up ten point 1% and that's a that's what we like to see and that's that's the trend that. We've seen continue thus far in 2014 but these. Cities -- had a downward trend year over year and you can look at that two ways either. Watch out it's gonna continue to drop Werth you've got enough market in -- you understated work in the real estate professional that knows the trends knows what's going on in the market. They may advise you that it's a perfect time to jump in close to the bottom we don't know the bottom of market. Until we what. Look in the rear view mirror on so if it may be opportunity I'm an optimist so I say probably opportunity and some of these markets number one analyst design Elmira, New York. Average home price is 99 median home price 995 down at eleven point six year over year Champaign Urbana. Got to think there might be some opportunities for real estate investors there. On in a bigger college town down 11% year over year Fort Wayne, Indiana down nine and a half percent your of your Springfield Illinois. Sprinkled in nice to. Been there a few times nice little town on the average home price 105000 down 9% and Fayetteville. North Carolina down eight point 8% year over year those -- some big drops in the face of a ten point 1% national right now I don't know the details. Or the reasons to why those are trending. But I do you say there's possibly opportunity for you with your first time home buyer or a real estate investor and Dan we talked about this I think the -- the show can home be romantic you said yes. Absolutely okay well if you're listing your home and no one of these five cities here particular romantic in Orange County California. Almost 2% of the listings used the word romantic 2% of the listing you were romantic followed by a Los Angeles San Diego San Francisco and in Tucson. No shock. That in California. Movie and Hollywood did they throw in romantic as they as a discredit turf war. Homes but those -- that that by listing percent of listings those were the 12345. Top five they used the word romantic. Okay well. It's we're down to the end folks. We hope you've enjoyed this installment of life -- on it's. -- we're very pleased to have Nathan Nathan in each shout out when he giving your -- France you know any friends I don't cup while there are a couple of friends. In Ukraine on our own island name drop on OK well Nathan has been a great guest and you've been a good sport. Appreciate you put up with me give -- a hard time and you even we even went head to head on -- should he stay or should you go scenarios so. Thanks so much for that and Danny any indeed your clients friends relatives that you wanna give a Holler out do. Actually I'm just thinking that I got a new word for all my listings and when he fourteen romantic -- -- but then violence. Just so dramatic getaway the consummate professional Dan Lynch we appreciate you shared some time with us today. Thanks Mike for being on the show would be a friend of life as you own it. Okay folks remember this is the middle segment of our three part three part series. On a first time home buying what steps are you need to take some good advice and next week. We're going to share with you the tips on how to negotiate that theory first contract had a pitcher not to skate your best you kind of walk you through what it looks like. In that process -- shared a little bit of it but will go into more detail next week at -- and so much more. Thanks for hanging out with a is thanks for being a friend of the show and remember to what state that. Steve and I mean.

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