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KMBZ>Audio & Video on Demand>>Life As You Own It 7.24.14 Segment 3

Life As You Own It 7.24.14 Segment 3

Jul 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)

-- All right we're back live to join in this the last segment -- well. At some that's a mom school supplies buying tips for you and the big tip is going to be did you know Craig there -- seventeen states that. Have they they don't they don't charge you sales tax on a certain day of the year when you buy those school supplies some of map multiple days did you know Craig did you know -- that happen. We're gonna put the maps for those states on the life as you own its website to if you go to -- you wanna dot com and folks is a novel idea it's it's. Summer's winding down. When -- considered taking a road trip to one of these states now tell yeah. Most of Murray and not areas that it's pretty HOT. Right now. On the bike you get to -- re -- of the states on the atlas drag you got a couple of in the northeast that. Go right to the heart of the midwest southwest and southeast. Don't go go -- looks like Iowa is one of those it will help you out in that regard Missouri you know that -- Arkansas. Oklahoma. New Mexico Texas Louisiana Mississippi Alabama. Tennessee -- in -- -- so. Georgia South Carolina. We've got Florida. Virginia Maryland Connecticut and Maine so. Tennessee the company has an -- and he makes it wisely Tyson twice. Hi folks so why -- some states what might save you 567%. Now if you live in the states make sure that you was selects the days that it is you're eligible to. Save those sales tax holidays and if you're in a state that does charge sales tax there are some states that never charge sales tax but -- -- that does then it make sure that you go well. May purchase those a school supply goods some. Possibly they're bordering state might be worth the road trip might turn a little you might have just a school supply vacation. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- They're -- waiting later make a lot of big decisions a lot of big investments of one stay more mobile and not only in their personal situation. But also when there that are roof over their heads situation. So while what we will see is these as the millennial start to slow down we're gonna see and an increasing and increasing the age of the first time home buyers. Mom and we're gonna see a difference is those first time homers commend they're gonna be buying. Smaller houses and so I think we will see is that pattern changes were going to continue to see which we've seen because the housing market. A raise in the average age of first time homebuyers and the size of that home their purchasing. Impacted already by the financial on the turmoil of the last 45 years. But this additional little demographic is going to you while further drive the size in the timeframe of which people make their first purchased. I'm even more so. That's my take brother and I would agree and we find it's you know it is it's proving itself -- in dated -- and are working environment we see more and more people who say you know I'm. Really get -- hold off I don't need a whole lot I don't play and have kids -- don't -- any married I mean the marriage part of it is one thing we're also seeing in addition to that a lot of people are holding off. Choosing to never have children or have less children. Put off having children so. All those things affect what you said mark the size of the house that one might need. You in the area where you might choose to live as many people who are single. You -- -- -- -- but the school district or things like that may buy a smaller homered different on the they would buy otherwise if they're raising a family and -- morning and put it certain school district so. All those things have so she'll economic implications. And when -- -- Whether you should or shouldn't go out and tired and old not. But I will say if what you're afraid is the consequences of it not working to get a good solid -- that those might help how many healing -- By that now and -- laid -- -- -- and go -- to -- as we had a show a couple weeks you're talking about make sure you understand the crunch contractor signing and I won't argue that that's. Possibly viable and up prudent contract you have a in place but. I will say if you do put one in place or you're asked to sign one make sure you read it make sure you understand it and remember all's good when you're into with. -- unfortunately. All things don't work out like we planned it. Sure I like this show today that's track and car I drag -- into next week thank you letter Gloria real. Hey folks another summer of life is -- thanks for hanging out with this and know we want to remind you to always. -- -- -- The tennis.

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