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KMBZ>Audio & Video on Demand>>Life As You Own It 6.21.14 Segment 3

Life As You Own It 6.21.14 Segment 3

Jun 24, 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)

-- -- mark McDougal and -- know what Craig Miller is no longer in the studio we. Had to slip after an appointment and I apologize folks nearly in half of this dynamic -- the more dynamic of the -- would only half nonetheless. OK if you just checking us out remember. Your first time Lester you can go to. You go to YouTube you can watch the the the video podcasts you can nine you can take is on the road with you on iTunes I heart radio tune in now. Com all of these options to include now just over forty affiliates throughout. The midwest the south west ends -- -- south that you can catch on your local radio station. So thanks for joining us and we hope that you are a regular listener to life you you won't it it's OK I. I have got a couple tools for you that I -- that I began to share those for personal finance ones that we like these Bankrate meant dot com learn best. All fantastic resource to educate yourself work on your budget. One for a college savings US news and world report -- got a net price calculator. On US news.com. That's a good one that you can not used to identify what's it gonna cost for your kids' education. I'm also saving for college dot com is a conference website includes tools and resource related by 29 plans. Scholarships financially programs as well as cost calculator on the rankings of the best performing 529 -- plans -- On retirement planning like this one on ARP retirement calculator go to AARP dot org go to the tools section. I'm also there's a flexible retirement planner. On is a free program that's more sophisticated and they are AARP calculator and you can find it it flexible retirement planner dot com. It's free. Folks what I'm giving you these are free resources. On the and then finally for insurance on the life foundation -- you can access is calculators. On the light. Happens dot org that's life happens dot org it's a nonprofit organization you can run. Scenarios and get information about health life disability and long term care insurance. And it also has tacklers to help you determine that the -- that -- insurance needs in the resource for finding an agent so. Some fantastic resources and what I'm gonna -- is on and make sure we post these. On -- website life as you own it dot com keeping check them out and please use the tools they are furry. With an emphasis on -- three OK don't put the cart before the house that simple one folks but tablets make sure that you understand it. That that the real cost associated with owning a home. Is something that we talk about each and every every weekend on the -- on the what we come across the sometimes is that there are people that have car payments. That are very similar to what their house payment would be. On now weakening -- that those car payments only for five years in the mortgage payment might -- for thirty but we can also agreed that the home. Stays the same or goes up in value over those thirty years in fact it goes up in value over the thirty years where's the car only goes down get down and it. Down. So make sure that before you determined to go by that nice new car that's -- You know 750 or 800 dollar payment to -- it in your financial picture. More importantly is something sustainable long term can start to plant the seeds of you were. Retirement which is homeownership. For law has a long term investment can be a great investment if you do the math. Car ownership. Car should be a means to get to work -- -- -- argue with you about the fact that sometimes the little more a matter status symbol they're -- out -- I've driven a nice car to in my day -- might appreciate beautiful vehicles but I. Make sure that your budget is one can afford the vehicle second to the lifestyle so can you afford the -- are -- -- lead the planning and things you need to do in the second week. Have you identified how that that vehicle that's going down in value if it's in the year overall goals all right as we wrap this show up gonna -- of the ten. Safest cities out of it. -- hundred largest match ball carries the United States and number one Irvine California and number two Fremont California. Gilbert Arizona Plano Texas Henderson Nevada Scottsdale Arizona shoot the Vista California Boise Idaho shout out my friends and family Boise Irving Texas Texas in Chandler Arizona. If you wanna find out the ten not so safe city -- your life if you own it and remember. Check us out next weekend we hope you have as much fun as we have a life if you wanted to remember to stay -- game.

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