Affordability

enMarch 05, 2019

Martini Mortgage Podcast

About this Episode

It is less affordable to buy a home today than it was during the last 10-years! By the end of this year, next year and next the next decade, homeownership is going to continue to get less affordable. Even if home prices appreciate at a slower rate than they have in the past, in the coming years, home affordability will slide. Now even though it is more expensive today as compared to a decade ago, home affordability is less than it was prior to the housing correction.

Recent Episodes from Martini Mortgage Podcast

4, 5, 6 Real Estate Forecast for 2024

In this episode of the Martini Mortgage Podcast, Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini shares his 2024 real estate forecast which is data-driven over sensational headlines. Dubbed the "4, 5, 6 forecast," Martini outlines his moderate yet realistic predictions for the real estate market in 2024.

Key Predictions:

Home Appreciation: Predicted at 4% for 2024.
Home Sales: Forecasting 5 million homes to be sold in 2024.
Mortgage Rates: Anticipating rates to stabilize around 6%.

In-Depth Analysis:

Mortgage Rates: Reflection on the unexpected spike in mortgage rates in 2023 and the current trend towards mid 6% rates. Discussion includes factors influencing these changes, like inflation and Federal Reserve policies.

Market Predictions: Martini addresses the potential conservative nature of his 6% rate prediction, the challenges in timing the market, and the future refinancing opportunities.
Home Sales: Insight into the predicted increase in home sales in 2024, driven by life events, lower mortgage rates, and increased affordability. Martini also touches on the impact of existing homeowners feeling more comfortable moving up.

Home Price Appreciation: A deep dive into the 4% home price appreciation prediction for 2024, referencing various sources like the CoreLogic S&P Case-Shiller Index and the Home Price Expectation Survey.

Martini Mortgage Podcast

enJanuary 14, 2024

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Marry the House, Date the Rate: Navigating the Real Estate High Tide

Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini, hosts a special episode of the Martini Mortgage Podcast titled "Marry the House, Date the Rate: Navigating the Real Estate High Tide.” Kevin explores the popular real estate advice of committing to a home while being flexible with mortgage rates, especially in today's unpredictable market.

Key Topics Discussed:

Current Housing Crisis and Demand: An examination of the U.S. housing shortage, with insights from the National Association of Realtors. Understanding the gap between demand and supply and its impact on home prices.

Mortgage Rate Trends: Analysis of historical and current mortgage rates, emphasizing the potential benefits of refinancing in a fluctuating rate environment.

Strategy for Today’s Homebuyers: Discussing the wisdom behind "marry the house, date the rate," and how this approach can benefit homebuyers in the current market. The emphasis on securing a home at today's prices and refinancing when rates are more favorable.

Buydown Strategy Explained: Introducing the 'buy down' strategy as a way to secure lower rates in the initial phase of a mortgage, effectively getting 'tomorrow’s rate today.'

Personalized Mortgage Guidance: Emphasizing the importance of understanding individual options in home buying and mortgage strategies. Offering personal advice and assistance to listeners.

Takeaways:

Market Predictions: Insights from market experts on the future of home values and mortgage rates.

Customized Homeownership Strategies: Encouraging listeners to explore their options, with a reminder of the significance of homeownership and the importance of being informed.

This episode of the Martini Mortgage Podcast offers a blend of expert advice, market analysis, and practical strategies for navigating the real estate market's current challenges and opportunities.

Martini Mortgage Podcast

enNovember 14, 2023

home buying strategies

Feel Locked Out?

In this special micro episode, Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini dives into the challenges many face in the current housing market. While acknowledging today's higher mortgage rates, Kevin provides historical context, reminding listeners of the 18.63% rate in 1981.

Kevin introduces strategies like temporary interest rate buydowns and the option to pay points, emphasizing the cyclical nature of mortgage rates. Kevin also highlights the Martini Mortgage Group's unique no-down payment FHA home loan and other affordable lending programs. With a potential rise in home values and the risk of being priced out, he encourages listeners to consider buying now.

Martini Mortgage Podcast

enOctober 17, 2023

Affordability, Inventory, and Student Loan Debt

In episode 192 of the Martini Mortgage Podcast, Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini dives deep into the major hurdles faced by homebuyers today: Affordability, Inventory, and Student Loan Debt.

The current housing landscape presents skyrocketing home prices and limited listings, compounded by the weight of student loans for many. Kevin breaks down the myth of affordability, highlighting that home prices, mortgage rates, and income all play interconnected roles.

Despite these daunting obstacles, Kevin emphasizes that the American Dream of homeownership remains attainable. He champions an informed approach, advising potential buyers to secure their home loan first, ensuring clarity on price and costs.

Martini Mortgage Podcast

enOctober 10, 2023

Divorce and the Marital Home

In this insightful podcast episode, Certified Mortgage Advisor and Raleigh Mortgage Broker Kevin Martini, backed by years of mortgage advising experience, sheds light on the critical financial aspect of handling the marital home during a divorce. Epsidoe 191 of the Martini Mortgage Podcast is structured to first dice into understanding the value and equity of your marital home, followed by exploring the three core options available for couples amidst divorce proceedings.

Initially, this micro podcast episode of the Martini Mortgage Podcast emphasizes the initial 3 steps to determine your equity position three steps:

-) Determining the home's worth: Utilizing an algorithm provided by Martini Mortgage Group, listeners are directed to accurately estimate their home’s value.

-) Calculating outstanding mortgage: The necessity of summing up the remaining mortgage balance, along with any additional loans, to understand the full financial picture.

-) Evaluating Home's Equity: A simple subtraction of what’s owed from the home's value gives the gross equity, though selling costs should be factored in for a net value.

With the equity understood, three primary options for dealing with the marital home are discussed:

Selling the Home: A straightforward yet emotionally tough choice that may necessitate a real estate professional’s assistance to ensure a smooth process and fair market value.

One Spouse Retaining the Home: If financially viable, one spouse may buy out the other's share, often requiring refinancing to adjust the mortgage to the retaining spouse’s financial situation. Martini Mortgage Group is highlighted for its expertise in facilitating such transitions swiftly.

Joint Ownership: An uncommon but possible route, either by continuing to reside together or renting out the home. This option demands a high level of cooperation and clarity in financial responsibilities.

Furthermore, five additional Kevin Martini tips are shared:

*Maintain Mortgage Payments*

*Open Communication*

*Preparation for All Scenarios*

*Document Availability*

*Impeccable Record Keeping*

The episode closes by offering a complimentary Financial Transition Plan through Martini Mortgage Group, aiming to assist listeners in making well-informed decisions during such trying times. It emphasizes the profound financial impact of divorce beyond emotional distress and encourages listeners to share the episode with those facing similar challenges.

Martini Mortgage Podcast

enOctober 03, 2023

2 Questions to Ask Yourself Before Buying a Home

Welcome to episode 190 of the Martini Mortgage Podcast, titled MMP, where our host Kevin Martini, a Raleigh Mortgage Broker and Certified Mortgage Advisor, explores the topsy-turvy journey of home buying in the current real estate scenario.

In this episode, Kevin dives into the emotional roller-coaster that accompanies the homebuying process, especially amid soaring home prices and fluctuating mortgage rates. He emphasizes on the importance of focusing on one’s aspirations, financial blueprint, and the groundwork needed before diving into the real estate market.

Highlights:

Understanding the Real Estate Landscape:

A discussion on the unpredictability of home prices and mortgage rates.
Expert predictions from Pulsenomics on the gradual rise in home prices in the upcoming years.
A highlight on how a $400,000 house bought in January 2023 could appreciate to $471,363 by 2027.

The Mortgage Rate Tango:

A dive into the dynamics between mortgage rates, the bond market, and inflation.
Predictions from the Mortgage Bankers Association on a potential rise in 30-year fixed mortgages by 2024.

Strategizing Your Home Buying:

An exploration of scenarios and benefits of buying a house now amid the current market trends.

Making an informed decision about your next move is crucial, whether you're a first-time or repeat homebuyer. When it comes to homeownership, having certainty about your financing options is the proper first step, regardless of your level of experience. This way, you can confidently search for your dream home armed with price and cost clarity.

Let's connect and discuss the proper mortgage strategy for you and your family. Whether you're ready to take the leap into homeownership or simply want to explore your options,

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Martini Mortgage Podcast

enSeptember 26, 2023

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buying a home in the fall of 2023

In this episode, as the fall season sets in, Kevin Martini dives deep into the current state of the real estate market, emphasizing that while the weather cools, the property market remains sizzling hot.

Kevin, a Certified Mortgage Advisor with the Martini Mortgage Group, introduces listeners to the recently released Fall 2023 edition of the Martini Mortgage Guide. This free resource, available at MartiniBuyerGuide.com, offers a comprehensive look into the intricacies of home buying and mortgages in the current market.

Key highlights from the guide include the challenges posed by the low housing inventory, the new normal of mortgage rates hovering between 6% to 7%, and the continued appreciation of home prices on a national scale. Kevin stresses the importance of being not just ready and willing but also able to buy in this competitive market. He also touches upon the historical context of mortgage rates and their potential trajectory. Wrapping up, Kevin encourages listeners to challenge their perceptions, explore their options, and reach out to the Martini Mortgage Group for personalized advice. The episode concludes with a heartfelt thank you to the listeners and an invitation to access the invaluable Martini Mortgage Guide.

Martini Mortgage Podcast

enSeptember 19, 2023

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Student Loan Payments Resume

In episode 188 of the Martini Mortgage Podcast, host Kevin Martini discusses the upcoming resumption of federal student loan payments on October 1, 2023, and its potential impact on mortgage approvals. He emphasizes the importance of understanding one's financial position and offers insights on navigating the changing landscape.

Main Topics:

Resumption of federal student loan payments on October 1, 2023.
How this might impact your mortgage approval.

Key Points:

Federal student loan payments and interest were suspended in March 2020 due to the COVID-19 pandemic.
As of June 2023, the pause is set to end, with payments resuming on October 1, 2023.
For homebuyers:
- The resumption may affect chances of mortgage approval due to increased monthly payments and interest accumulation.
Three things borrowers should know:
- Payments resume on October 1, 2023.
- Interest accrual starts on September 1, 2023.
- There’s a 12-month “on-ramp” period without penalties for late payments.
During the payment hiatus, credit reports showed $0 obligation for federal student loans. However:
- FHA and Freddie Mac estimated payments using 0.5% of the total loan balance.
- Fannie Mae used 1% for their estimations.
Estimated payment amounts might differ from the actual payments, which could affect the Debt-To-Income (DTI) ratio, a key metric for mortgage approvals.
Income-driven repayment plans for federal student loans:
- PAYE: 10% of discretionary income.
- REPAYE: 10% of discretionary income, possibly less with dependents/spouse with loans.
- IBR: 15% of discretionary income.
- ICR: 20% of discretionary income.
- Under Fannie Mae, if the approved payment is zero, it's used for DTI calculations.

Closing Thoughts:

Be proactive and prepare for student loan repayments.
Still, maintain homeownership aspirations.
Understand your financial position as knowledge provides clarity, confidence, and direction.
For insights on mortgage strategies amidst student loan resumption, contact Kevin Martini at 919.238.4934.

About Kevin Martini: Kevin focuses on empowering families to create generational wealth via real estate and the right mortgage strategy. He's originated over a billion dollars in home loans since 2006. Recognized as one of the top 50 Mortgage Originators in the U.S., Kevin has been featured in Forbes and CNET. He frequently shares insights at conferences and hosts the Martini Mortgage Podcast. He's dedicated to helping clients make smart financial decisions for wealth growth and future planning. Connect with him on Instagram and YouTube for real estate and mortgage insights.

Martini Mortgage Podcast

enAugust 22, 2023

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35% is YOUR Timeliness

In episode 187 of the Martini Mortgage Podcast, host Kevin Martini, a Certified Mortgage Advisor and Producing Branch Manager with the Martini Mortgage Group at Gold Star Mortgage Financial Group, delves into the significant connection between personal habits and credit scores.

Utilizing the analogy of a car's maintenance, Martini emphasizes that 35% of a person's credit score performance is dependent on their timeliness in paying debts. Likening various financial mishaps to flat tires and rusty engines, he underscores the serious consequences of late payments, charge-offs, bankruptcies, and judgments on one's credit health.

Martini goes on to detail the importance of mortgage payments, comparing them to the transmission of a car, and explaining how even a single late payment can have drastic effects on interest rates and loan terms. Other debts, like car payments and credit cards, are also vital, but less critical.

He stresses that the key to a healthy credit score is similar to maintaining a vehicle: paying attention to the details and being consistent in taking care of the financial responsibilities. With timely payment history impacting 35% of one's credit score, Martini encourages listeners to be proactive in managing their credit to enjoy the financial freedom that can fuel their dreams.

In addition to his insights on credit management, Martini expresses his passion for helping individuals and families build generational wealth through proper mortgage strategies. He invites listeners to reach out to him personally for guidance tailored to their specific circumstances and market conditions.

The episode serves as a comprehensive and relatable guide to understanding the role of habits in determining credit scores, promoting the idea that attentive and responsible financial behavior can lead to a prosperous future.

Martini Mortgage Podcast

enAugust 10, 2023

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How Inflation Impacts Mortgage Rates

In episode 186 of the Martini Mortgage Podcast, titled "How Inflation Impacts Mortgage Rates," Kevin Martini, a Certified Mortgage Advisor, dissects the stubborn nature of inflation and its complex relationship with mortgage rates.

The discussion reveals how inflation, being the increase in general price levels, directly influences mortgage rates, affecting everyone's purchasing power.

Martini explores the counterintuitive nature of bonds and mortgage rates and emphasizes the lag between inflation dropping and mortgage rates falling.

This episode dives into current market trends, including higher mortgage rates providing a unique competitive edge to homebuyers, and concludes with Martini's strategy of "committing to the house and flirting with the rate," encouraging listeners to explore their options in the current environment.

Martini Mortgage Podcast

enAugust 04, 2023

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martini mortgage podcast