Episode 06 – Today’s Mortgage Business with Brian Yearwood

Episode 06 – Today’s Mortgage Business with Brian Yearwood

Brian Yearwood has been in the mortgage business since 1998. Brian opened Custom Mortgage Services, a quick and easy solution for custom mortgage services, in June of 2001. With a background in accounting, Brian goes much deeper into his client’s finances than just their mortgage needs.

Brian shares what the current state of the market is and what it means with the low mortgage rates and all time high sale prices. Brian sheds light on why it is a great time to refinance, but not to be buying a new home. Brian and Tom talk about how the equity in your home and your 401k are both important aspects when it comes to financial planning for retirement. Tune in for financial tips regarding the importance of your mortgage options when downsizing for retirement!

IN THIS EPISODE:

  • [03:51] How the current mortgage rates are affecting the housing market, raising prices to an all time high.
  • [04:24] What you need to consider when financial planning and how to involve your home equity and your 401k.
  • [11:19] Why paying cash for your house when downsizing for retirement might not be in your best interest.
  • [15:31] Why you should take into account all of the closing costs involved and how your lowest cost option may not always correlate with the lowest interest rate.
  • [26:21] What are these low rates for an extended period of time doing to the real estate market in the future?
  • [27:53] What should you do to prepare to refinance?

KEY TAKEAWAYS:

  • Incorporate financial planning for retirement when choosing between mortgage rate options.
  • You need to consider your 401k and cash flow when downsizing and paying cash for your next home.
  • If you haven’t already, look into refinancing your home.
  • Make your real estate and retirement plans sooner rather than later.

BIO:

Brian Yearwood has been in the mortgage business since 1998. Brian opened Custom Mortgage Services, a quick and easy solution for custom mortgage services, in June of 2001. Brian has a background in accounting that sets him apart from other mortgage lenders. Brian goes much deeper into his client’s finances than just their mortgage needs, often referring them back to a financial advisor to deepen their understanding of their mortgage choices. Brian is a Dave Ramsey instructor at his church, and typically refers to his method of financial planning when going much deeper into his clients’ finances than just their mortgage needs to strengthen his clients’ overall portfolio.

RESOURCES:

Brian’s Phone: 678-992-7100

Website: www.cmsloan.net

LinkedIn: https://www.linkedin.com/in/brian-yearwood-66b0623/

DISCLOSURE:

Three Bridges Financial Group is an independent financial services firm that utilizes a variety of investment and insurance products. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Three Bridges Financial Group are not affiliated companies. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Three Bridges Financial Group is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Three Bridges Financial Group.


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