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KMBZ>Audio & Video on Demand>>Life As You Own It 8.13.14 Segment 3

Life As You Own It 8.13.14 Segment 3

Aug 13, 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)

We're back sorry -- so we got the Smartphone devices and I -- and their collected all this kind of information that whether trauma TV my thermostats highlighting all that stuff my refrigerator. How to light how I protect myself so the bad info wouldn't shared with with some -- this lurking in the neighborhood in cyberspace sure -- couple -- but just cancel things here for all of your research folks before you purchase a Smart device. Investigate the company security policy. Make sure you know how easy will be for it to be outdated if you have any doubt consider contacting -- -- for clarification you've got to know. How good the security is on that particular device protect device of passwords. It seems like an obvious thing but amazingly a lot of people -- Internet and other Smart devices in their home they don't have a password on the think they're making it easy to use. In other people are -- writing an update software if and updates available. Running you need to keep an update you as much as possible because they do you update the security loopholes and try to figure out. How to make sure they you know compensate for things that have been popping up browse with caution. Make sure -- your access and Internet don't click on links that you don't understand where they're coming from a -- it's an unknown senders looks funny ignore it. Definitely do not click on anything that you don't intend to log into person you know just don't. Don't fall for the bait folks -- a lot of data out there when your browsing Internet and then it finally protect your mobile devices. Obviously -- of those devices are oftentimes now controlled by tablets and mobile phones. If you protective of all the above measures it will ensure that the Smart devices don't get compromise a -- Hewitt is a Smart house in some Smart click here now how to get in the U. Stuff. All right mark what's next. All right so cracked we've got to we got five states -- five yes I states we get a better deal on your mortgage. Right -- act. -- Rhode Island an average guy interest rates 3.4 percent. As of July on average Connecticut 3.4 one about a 3.4 six Pennsylvania 3.5 -- Maryland 3.5 nine the highest work. Nebraska. On at four point one known we'll say South Dakota and Wyoming just under four point four point eight so why. -- -- Over half -- percent difference in interest rates yet. Craig waters some of the things now folks say assailants UP go oh my gosh -- -- Rhode Island to get a better on the mortgage well just like anything. It it's the details that are important and there are several details Greg you can opine on -- I -- as to why. Getting a better deal on a mortgage in that Rhode Island is not necessarily true so Mythbusters time Craig ms. Madoff dust flip to Bob hey a lot of the first. Off renegade on the cover this mortgage backed security bond trading is what dictates that mortgage rates are going to be there's very little differentiation from state to state in some cases. There can be very very -- in our means like pricing and changes from Wednesday to another. And we're talking about at the very most and eight of a percent of interest on at the just the right date usually. Coast to coast north south east and west it's all the same fervor by so what's happening here -- tell you that first of all. Many states have higher propensity to pay buy down their rate with points in -- The I think this doesn't tell us in this article is what the average term of the mortgages and what the size alone in his. Folks if you're a small midwestern town. There's a couple things here hopefully -- in a -- and that's by your rate down with points and number two you're not gonna get. A loan that it may be slightly down a little bit lower because your -- so much made a lenders making a little more profit. So I can tell you that there is not a big difference in the rates from state to state but I can't tell you that the way people go about doing their mortgages does make a difference and in fact. Oftentimes is the states they can brag that they get the lowest average rate that -- -- the worst average deal desert paints a much more in fees and costs and points at they're not recovering before they -- -- to get -- letter to something else. So don't fall for this because it's not true that's right the average cost associate -- these these mortgages are based on a couple things as Craig mentioned one is. They're higher average loan amounts and two is they are paying more in fees and while if you take the term of the loan of thirty years and say oh. They saved half percent in if we compare day same month mortgage amount they would save that money that's how they saved 20000 dollars of our -- -- over the thirty year mortgage. There are gonna be in the house thirty years and turn -- -- mortgage thirty years so while it's interesting to report. It is a bogus it is article anyway myth myth that you can save money get your mortgage and now Rhode Island no offense Rhode Island a million hole -- the same deal there in Nebraska -- did all right folks you another installment of life John thanks for hanging out -- does have a -- fantastic rest of the weekend and a great week. Remember to left. -- --

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