FinanceWithFoss

#mortgage #education Welcome to the Mortgage Minute series, where we educate and take the complicated perception of mortgages and empower you to make decisions future you will thank you for. Today's topic: Series introduction. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #mortgagepayment Today, June 14th, 2022 we look at what a generic payment would be for a $300,000 purchase price using 6% as the interest rate, 3% down payment on a Conventional loan. We then use Minneapolis current rent as a comparison. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

Staying up with the ever changing Real Estate market

#mortgage #housingmarket Is a price correction on the way? Some signs may be hinting towards it, but some strong economic indicators might show otherwise. Let's talk about it. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#downpaymentassistance #mortgage Minnesota Housing important updates. All changes are effective with loans locked on or after June 1st. - Increased Income Limits to both Start Up and Step Up - Increased Income limits for Start Up Deferred Assistance loans! - Increase Acquisition Limits for Start Up. Step up acquisition limits remain the same at this time.

Staying up with the ever changing Real Estate market

#realestate #mortgage CEO and Realtor of Greater Midwest Realty Joe Weinzetl joins the podcast to talk about the changing market and how buyers and sellers can better prepare themselves for the year and years ahead.

#credit Are you going to be making a move soon? Or buy a new car? Or do you want to get pre-approved for a home down the road? With those questions comes a very important one, do you have any idea what your credit score is? Or how it's formed? Now-a-days, it is extremely important to know what your credit score is as having a high credit score can save you thousands of dollars over time. If you find yourself in a position where your credit score isn't the highest or you're just starting out, this video will help break down the top 5 credit score factors, everything that goes into it and how to improve that credit score. 00:00 - Introduction 01:17 - Top 5 Credit Score Factors 03:46 - Installment vs Revolving Debt 04:46 - How does having different accounts affect my score? 05:40 - Can service accounts affect my credit score? 07:51 - What can hurt my credit scores? 09:35 - How do I improve my credit score? 17:41 - What if I don't have a credit score? 19:13 - Closing

Staying up with the ever changing Real Estate market

#mortgage Introduction Bond Market Industry News Evolution Real Estate Podcast Cost of Waiting

#mortgage #realestate Staying up with the ever changing Real Estate market

#mortgage #realestate Staying up with the ever changing Real Estate market. In this episode, Scott and Justus discuss the changes in the interest rate predictions for 2022, what you can do to improve and set your credit up for success and the new big change for condos. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss https://twitter.com/FinanceWithFoss

#mortgage #realestate Staying up with the ever changing Real Estate market by going over the realty of today’s Real Estate market with buying pressure, interest rates and utilizing the recast to make a non-contingent offer. There were a few audio glitches: From 16:08-18:59 I had no audio! Ahh! I was essentially referring to this video the whole time: https://youtu.be/aF9LPEgZxnU Annnd my audio from 23:15-24:40.. it probably was super important too.. so I guess you'll have to watch the next episode too.. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss https://twitter.com/FinanceWithFoss

#mortgage #realestate The FHFA is making big pricing changes to 2nd home purchases and unlike last time, this one is actually scheduled to happen for all loans locked after February 1st, 2022. 00:00 - Intro 00:40 - Upfront Fees 00:59 - Cost 01:44 - Impact on purchases and refinances 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss https://twitter.com/FinanceWithFoss

#mortgage #realestate As we look ahead into the potential 2022 mortgage rates, it's also important to look back within our recent history to help predict and explain where we could be heading. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss https://twitter.com/FinanceWithFoss

#mortgage #realestate In this episode, Scott and I address the local Twin Cities market by reviewing data over the past week and discuss the future market conditions that we could see in 2022. You can find this podcast on YouTube, Facebook, Instagram, LinkedIn and all of your typical podcast apps! 00:00 - Intro Video 00:15 - Start of Episode 02:08 - Thank You to Veterans 03:23 - I'm just like you, the first-time homebuyer fixes 05:08 - Twin Cities Local Market Update 11:56 - Powell Update for Future Market Conditions 13:30 - 2022 Fannie & Freddie Conforming Loan Limit 16:39 - Keep Shopping During the Winter Months 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate In this episode, Scott and Justus address the local Twin Cities market by reviewing data over the past week and past couple of months along with the NEW increased conforming loan limits for 2022. Justus' topic of the day is about gift funds while Scott discusses the new Omicron virus and how that could affect the market. Then, Scott and Justus talk about how winter can affect home buying in Minnesota and why it might not be a bad idea to keep your eyes open for a good deal on a property during the offseason of the home buying market. You can find this podcast on YouTube, Facebook, Instagram, LinkedIn and all of your typical podcast apps! 00:00 - Intro Video 00:15 - Start of Episode 00:46 - Twin Cities Local Market Update 10:15 - 2022 Fannie & Freddie Conforming Loan Limit Increases Conversation 11:32 - 2022 Fannie & Freddie Conforming Loan Limit Increases Chart 11:51 - 2016-2022 Fannie & Freddie Conforming Loan Limit Increases Chart 14:03 - Gift Money Information on how to handle it for mortgage underwriting 15:56 - Omicron Coronavirus and Real Estate 19:01 - Winter is coming; What does it mean for Real Estate? 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate The loan limit for conventional conforming loan limit has set it's new limits for 2022, but what does this mean if you're a first-time homebuyer? What are the historical changes over the last few years with these limits? This quick video will help examine those questions. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate So you're thinking about buying your first home, but what should you consider when thinking this through? In this video we look through four major factors you should consider before purchasing a home. Remember, a simple 10 minute phone call with a trusted Mortgage Loan Officer can help set you up for success. 00:00 - Start 01:50 - Weigh the Pros & Cons of Buying vs Renting 03:02 - Calculate the Down Payment and Closing Costs 05:02 - Decide on How Much You're Willing to Pay Each Month 06:25 - Look at your Debt 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate The new 2022 Fannie Mae & Freddie Mac loan limits have increased and increased quite a bit! 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate You and your significant other are not legally married and are planning on buying a home together, but the mortgage will only be in one of your names, how do you protect your investment? Is this a good idea? How to you protect yourself in case of the “what if we break up” scenario. Let's find out! 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate In this episode, Scott and Justus due the usual, intro the podcast, talk through the newly added local market update segment, talk about the two interesting topics which include VA buyers knowing about their VA eligibility certificate and condo purchases using government loans such as VA and FHA needing to have the association on an approved list to use that financing. They then start right up from the last podcast, now that a home purchase offer is accepted, what happens next? They take you down the road from getting your home offer accepted to the actual closing. VA buyers need to get VA eligibility certificate for mortgage https://www.va.gov/housing-assistance/home-loans/how-to-apply/ https://www.ebenefits.va.gov/ebenefits/homepage Government loans/FHA Condos and how they’re different from normal https://entp.hud.gov/idapp/html/condlook.cfm You can find this podcast on YouTube, Facebook, Instagram, LinkedIn and all of your typical podcast apps! 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate What to expect is a series where I go over the main concepts of obtaining a mortgage, broken down into three sections: what you need to know before applying for a mortgage, what you need to know during the mortgage process and what you need to know for after the closing. The goals of this series is to help you become more comfortable with the most commonly asked questions as well as general information to get you more in tune with what the expectations are. In this second section, what to know during the mortgage process, we’ll breakdown the individual stages including the pre-approval, document and processing as all the way to closing with detailed information on the timeframe, what is expected for all individuals involved and things you'd want to know. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate In this episode, Scott and Justus explain the importance of getting pre-approved before home shopping and why address specific pre-approvals have more weigh compared to generic pre-approvals. They then dive into the scheduled on tent of the "New Buyer Client Process/Experience" from before starting the process up to making an offer. The next episode will explore going from the accepted offer to the closing. You can find this podcast on YouTube, Facebook, Instagram, LinkedIn and all of your typical podcast apps! 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss

#mortgage #realestate In this episode, Scott and Justus explain the podcast, the layout and direction. They then break down two interesting things that happened in the last week which include getting to clear to close and avoid credit mistakes along with missing payments when a future buyer was selling her home. Then the main topics for the episode has Scott diving into Realtor Agency and Justus explaining how Agency works in the mortgage world followed by better explaining how Realtors and Loan Officers are paid. 📒 Show Notes and Resources 📒 Justus Foss Mortgage Loan Officer - Finance With Foss NMLS #1588344 Have a mortgage question about something not covered in this video or specifically about the video today? Reach out, I'd love to help answer it. Justus on Social Media: https://linktr.ee/FinanceWithFoss http://www.FinanceWithFoss.com https://www.facebook.com/FinanceWithFoss https://instagram.com/FinanceWithFoss https://www.linkedin.com/in/JustusFoss/ https://twitter.com/FinanceWithFoss