Ep. 36 John Charlton The Mortgage Guy

St. Louis Realtor Podcast

In this episode Realtor Adam Kruse and Realtor Shannon St. Pierre talk to John Charlton The Mortgage Guy. Find out why John almost never sees a contract in the St. Louis area without concessions from the seller .

Email Questions To: [e-mail]

Host - Adam Kruse https://hermannlondon.com/realtor/adam-kruse/

Shannon St. Pierre https://hermannlondon.com/realtor/shannon-st-pierre/

Lender John Charlton https://www.facebook.com/TheMortgageGuySTL/

ITUNES-http://goo.gl/rs1q9X

Blog-https://hermannlondon.com/podcasts/

Website http://hermannlondon.com/

Producer - Joey Vosevich

Theme Song by Trastornobeats

3:00 Agent tips and tricks from a recent deal

4:00 Shannon is working on a lease/purchase deal

8:30 What’s the first thing to do when deciding to buy a house

9:00 How are the rates

13:30 The markets were already prepared for the tax reform bill

11:40 6.5 used to be considered a good rate

14:25 What is a 1031 like kind exchange

17:00 Closing costs credits and changes to the Realtor contract

18:00 John Charlton almost never sees a contract without concessions from the seller

19:00 Denver is a seller’s market and John almost never sees concessions

20:25 Special wording on the VA Rider

21:25 Banks don’t charge bank fees on VA Loans. It’s meant to be 100% free financing

22:33 A VA Loan is a sweet deal and all military personnel need to be looking into it

23:00 3% closing cost is a good benchmark unless the home is over $250,000

26:21 What are the credit thresholds

30:00 People with damaged credit need to know they can fix it. It’s an algorithm, not voodoo

30:30 Can you get a loan with no credit

31:15 The ideal buyer has a credit score higher than 750

31:50 What is the minimum credit score

32:03 Buyers want to know what they can afford

32:42 Don’t avoid talking to a lender if you have bad credit. They could be helping you fix it

33:13 A lender wants to know what the buyer is paying now and if current home fulfills needs

35:26 A Realtor doesn’t want or need to know how much the client makes

37:07 A safe harbor in U.S is 43% of income can go to a mortgage

39:49 What is a bridge loan

43:38 When is a reverse mortgage a good idea

45:20 Is it still a good time to refinance

46:32 How to get rid of PMI (private mortgage insurance)

47:00 Recasting a loan on a shorter mortgage

48:38 What is the rate difference between a jumbo loan and a 30 year fixed

50:57 Why do refinancing terms vary by lender