In this episode featuring special guest Tina Bennett from Hallmark Home Mortgage, they delve into the intricacies of mortgage debt, discussing factors like interest rates, refinancing, and the importance of seeking guidance from a mortgage professional. Through an insightful conversation and practical advice, this episode empowers people to make informed decisions about their finances and homeownership.
About our guest, Tina Bennett:
Tina Bennett is a seasoned professional with over 20 years of experience in the mortgage industry, currently serving as a Branch Manager and Senior Vice President at Hallmark Home Mortgage. With a passion for helping others navigate the complexities of the mortgage industry, Tina’s expertise shines through her insightful discussions on topics ranging from interest rates to refinancing strategies. Her dedication to educating and empowering individuals in their home buying journey is evident as she uses her extensive knowledge and expertise to personally structure the best product for her clients.
Summary and highlights from the show:
Mortgage Industry Insights: Tina shares her experiences and insights gained over three decades in the mortgage industry, emphasizing the importance of understanding mortgage options and making informed financial decisions.
Factors Influencing Mortgage Decisions: Discussion on whether to pay off a mortgage, considering individual financial situations, interest rate environments, and potential impact on quality of life.
Historical Perspective on Interest Rates: Tina provides insights into historical interest rate trends, including peaks in the 9% range in the past, compared to the recent record-low rates.
Current Housing Market Dynamics: Exploring the current housing market, including the impact of interest rates on buying decisions, trends among first-time buyers, downsizers, and those seeking to upsize.
Mortgage Options and Strategies: Detailed discussion on mortgage types, including fixed-rate, adjustable-rate, and specialized products like the two-one buydown, with considerations for different financial scenarios.
Understanding Loan Estimates: Importance of comparing mortgage offers using Loan Estimates, which provide a breakdown of rates, fees, and other costs associated with the loan.
Construction Lending and Homebuilding: Insight into construction lending options, allowing homeowners to finance the construction of a new home while staying in their current residence until completion.
Future Outlook and Homeownership Advice: Optimism for the housing market in 2024, along with advice on preparing for homeownership, including consulting with mortgage professionals early to optimize financial readiness and explore potential improvements in credit scores or debt management.
About SYM Financial and EmpowHER Podcast:
The EmpowHER Podcast is a platform for women to come together to gain financial insight and strategies with a tribe of brilliant women. This show is brought to you by Financial Advisor Michelle Hipskind, CFP ®. Michelle educates on the many important aspects of financial planning and brings in additional professionals that provide advice in their areas of expertise, giving listeners access to the appropriate professionals that can help solve the problems many women face. In-person events are held in the Fort Wayne, Indiana area. In addition to the podcast, local events, webinars, and blogs are available for all women who want to be part of the EmpowHER community.
Email Michelle at firstname.lastname@example.org with questions, comments, and to schedule a one-on-one conversation.
Disclosure: Certain links above are to third-party sites and are not affiliated with SYM Financial Corporation (“SYM”). SYM is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about SYM including our investment strategies, fees and objectives can be found in our ADV Part 2, which is available upon request.