Are you holding onto a 3% mortgage and wondering if moving will ever make sense again?

With rates in the 6% range and home prices well above where they were a few years ago, many homeowners are staying put, and buyers have fewer homes to choose from.

Todd Sheppard, founder and owner of Inspired Mortgage Brokers and a Certified Divorce Financial Analyst, explains how he builds a preapproval around a comfortable monthly payment, how discount points and loan recasting work, and what divorcing spouses should know about keeping or buying a home.

Listen in as Todd shares real client examples to help you set a price range you can live with, decide when buying down your rate pays off, and plan your next home purchase during a divorce.

What You’ll Learn:

• What's keeping homeowners with low rates from selling and what could change it.
• The question to ask before "How much can I qualify for?"
• A $250 option that can lower your mortgage payment without refinancing.
• How to tell if buying down your rate is worth the upfront cost.
• What's behind the rising age of first-time home buyers.
• How divorcing spouses can buy a new home while still on the old mortgage.
• What to expect when refinancing to buy out a spouse after divorce.

Ideas Worth Sharing:

• "One of the biggest mistakes folks make over the years is liquidating their retirement account because the stock market wasn't doing anything." - Todd Sheppard
• "If it's spelled out in the settlement agreement that one spouse is responsible for it, then the other spouse is not. We don't have to include that mortgage payment in their debt-to-income ratio." - Todd Sheppard
• "For every $100,000 you pay down the loan balance, it would reduce your payment by about $570 a month." - Todd Sheppard

Resources:

• Todd Sheppard: Website | LinkedIn | 770-304-6699
• Genevieve George: Website | LinkedIn

Connect with Us:

If you're ready to stop avoiding your finances and start building the future you deserve, schedule a free call with me at pelicanfinancialplanning.com and let’s create your personalized financial plan together.

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