Money Checkup Podcast

Episode 8: Part 1 Buying a Home – What to Know About Mortgages with Christina Razzi

March 26, 2019

Podcast

One of the biggest purchases many of us will make in our lifetime is a home and for some people that might happen more than just once. What usually comes with the purchase of a home is also a mortgage, which means a lot of paperwork and a lot of complicated numbers and so what does it all mean? In today’s Money Checkup, I talk with Christina Razzi (NMLS 162739) about what lenders are looking for, what things to watch out for when working with a lender and some of the unique features physicians can take advantage of when looking for a mortgage.

Christina is the #1 US Bank loan officer in her region with over 20 years of experience. She helps clients across the US obtain mortgages for their first home, second home, investment property and more. She is focused on customer service and works with her clients to help them decide which option is the best for their situation.

What We Will Cover

First thing to do if you’re thinking about buying a home
The score you should be above to have a “great credit score”
How department store credit cards are not your friend
Documents to have in order before applying for a mortgage
The differences between fixed, adjustable rate, and interest-only mortgages
The most common and most conservative type of mortgage
When an adjustable rate mortgage (ARM) could be beneficial
How mortgage rates and savings interest rates work in tandem
When a person should consider an interest-only loan
Qualifications for an interest-only loan
Reserve requirements for each type of loan
Fees to look out for when price shopping mortgages
When to start asking for the loan estimates
Other factors to consider when picking a lender besides fees
How debt plays into mortgage lending
Doctor loan nuances to be aware of for mortgages
The ins and outs of private mortgage insurance (PMI)
The most important thing to do for the bank if you’re self-employed and looking for a loan