Text Us: 22980
Phone: (913) 576-7798
| More
KMBZ>Audio & Video on Demand>>Life As You Own It 4.9.14 Segment 3

Life As You Own It 4.9.14 Segment 3

Apr 9, 2014|

Related Audio:

  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
+

Automatically Generated Transcript (may not be 100% accurate)

All right we're back last segment of life issue all right okay folks talking about -- second home opportunities what we've seen a a big push a lot of you are operatives dating in the purchase of your second home little bungalow on the beach may be a cabin in the mountains. But there are plenty of opportunity -- for you to finance their second home. And statistically we are seeing that part along with demand for housing continued to pick up. It's a good thing. We wanna make sure that you understand your options when it comes financing we've got. The five most common ways to consider financing the signaled Craig jumping. Video we're gonna go -- this -- trying to quick but provide a second home here's some -- get it done first of all the old good old fashioned cash purchase. If you got lots of wood in the bank. In you've got to your money diversified and you got your investment scored earlier reserves are there your retirement set up and you've just got lots extra cash is that most of us these days yet to send him. The pay cash for that's one option better options let's look at some of those. A second home mortgage you can take out a mortgage on a second on the same way you at a primary residence in many cases a greater down payments that are required. You may have that a little bit stronger credit as well but you can get a mortgage at a low rate. On a -- a second home just as you would your primary number three you can take equity from your primary residence those -- -- were quite heavy. In equity of your primary residency hey you know. I think -- is gonna take the money out of this one continue to pay a mortgage on the place I live then I'll just -- check adamant equity for that. Second home you can do it that way number four owner financing. Many times when you're looking at a second home it may be in a unique -- may -- remote in ideologue cabin somewhere out there in the -- you know. Foothills of some place or smoky mountains or maybe it's -- a beach places it's unique and it doesn't quite come out with other homes where it's hard to get financing on it. Maybe the origins wanna carry financing as a way to diversify their investment portfolio you can go to the owner of a home and oftentimes you'll find that vacation style homes. Have little note in their little finance. For the right buyers so. Owner financing is always an option as well number five in your private bank loan for the higher net worth borrowers out there are some people have. A lot of assets. A leading can be put against some other assets and get a very low interest rates sometimes your private banker. Who's just looking to diversifying how their loaning out their funds so sometimes a private bank -- to work for all or part of that purchase. A seed is more often with people who wanna put a substantial amount of money down. You know a lot of other assets with a particular institution. They take at a really low advantageous rate. For you know low percentage loan to value of that second home and do it that way so those are five there are others but those are the primary -- that we see. Most of the time. Be strategic speak to a certified mortgage planner and speak to your financial planner folks if you don't have both you need both. All right. I'm real quickly so I said we've got some some places he may consider buying that terror abroad not to be confused with what we discussed earlier about a broad Greg Craig that's right like. The broad jump. Number one it is where is it Guam and wall -- deaths -- gas. Number one Guam apparently the cost of living is very cheap she can live like -- for 2000 dollars so they say. -- number two is Guatemala. Number three Vancouver British Columbia now it's not going to be -- cheap to live in Vancouver but apparently the cost of living it is. Something that is modestly more affordable from -- on a relative basis. Not a us an idea what does that mean exactly I don't know still expensive silly and it's actually it's gonna be -- terrain you've got your that the money be you'll say it is probably gonna be enough. Pharmaceuticals yeah so Craig you might wanna consider. There and not yet we've also got to of Valencia Spain there. -- -- -- They ought to its long Guatemala. And all last on the list but last but not least is what Craig. I don't know Chiang Mai Thailand I would go there Charlie veteran that. Yep love technically are what are guide states that no income tax people wanna know. Ninth state to believe him tiger hill right now in New Hampshire Washington Wyoming Tennessee South Dakota Alaska Florida Nevada and Texas Texas -- that's right another installment of life as you -- it thanks for checking is out remember a coach who might be joining dot com. -- give us a ring we'd love to hear from -- Remember too. Speaker Nancy.

KMBZ Iphone App

Photos

Kansas City Perks

On-Alert

KC Gas Prices

RSS Center