Sep 14, 2023
Ken Pitts is co-owner of First Choice Mortgage Advisors, a mortgage broker in Media, PA, just outside Philadelphia. Ken’s team of highly skilled loan specialists takes the time to understand and develop the best option for each borrower’s unique goals and needs.
Jeff and Ken discuss various aspects of home financing and how different options and considerations can enhance your estate plan. Ken explains reverse mortgages, debt consolidation, all-in-one loans, and the factors influencing mortgage rates. You’ll appreciate his insight based on the market trends he’s seeing in today’s unusually complex environment.
First Choice Mortgage Advisors is licensed in PA, NJ, DE, and FL. Learn more at www.firstchoicemortgageadvisors.com or call Ken directly at 610-637-7325.
What You Need to Know
(02:18) Ken recommends Jeff’s boot camp for financial professionals. It helped him better understand his role in financial planning. The boot camps offer six CEUs for health care and financial professionals.
(08:51) When looking to buy a home, know your budget and the size of the loan you can get. Pre-approvals are good for four months, but it’s relatively easy to extend them.
(10:39) The market indicates that home prices are going to continue to increase. There's going to be more demand than supply for the next five years or so.
(11:26) The Fed raises interest rates to fight inflation. As inflation comes down, mortgage rates come down. But we’re in an unusually complex market right now with many factors affecting rates.
(14:54) Have you purchased a home in the last eight to 10 months? Look refinance at a rate that is 1.0-1.5% lower to justify closing costs. For homeowners close to retirement age, reverse mortgages can serve as a key component of an estate plan.
(22:24) An “all-in-one” loan can help you pay off your 30-year fixed mortgage much faster. Call Ken to find out if it would be a good fit for you.
LINKS AND RESOURCES MENTIONED
Bellomo & Associates workshops:https://bellomoassociates.com/workshops/
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- The Three Secrets of Estate Planning
- Nuts & Bolts of Medicaid
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