Episode 024: Mortgage Broker Interview: Barry & Gleason Jones (Part 2 of 2)
In this episode, I continue the interview Barry & Gleason Jones of Cross Country Mortgage in Auburn. If you missed the previous episode, you should definitely start there. It is a 2-parter, but you can see the breakdown of topics covered in each episode below...
PART 1:
- Gleason's lessons from being a landlord
- ARM's - are they still out there?
- How do THEY determine your credit score?
- Intro to Condo loans
- Importance of accurate details on loan applications
- How do you determine if it’s a 2nd home or investment property?
- How are the loans different for a 2nd home or investment property?
PART 2:
- Interest-Only & Construction Loans
- HELOC - what are the maximum limits you can borrow?
- Can you pledge other assets instead of / as a part of your down payment?
- Approved sources for down payment assistance?
- Let's talk about seasoning
- Buying as an LLC vs buying in your personal name
- Deeper dive into condos
- Where are we in the loan cycle compared to 2-5-10 years ago?
- A quick look at the reasons for so much development in Downtown Auburn
- What type of loan would you recommend as the best for an investor?
- Broker’s advice: How do I come into your office and get the best loan?
Links from this episode:
- Work with Me
- Mortgage Services: Gleason Jones, Cross Country Mortgage
- Understanding Mortgages & the Great Recession: The Big Short (Amazon)
- Real Estate Brokerage Services: AuburnInvestmentProperties.com
- Real Estate Investor Coaching: BetterREI.com
- Websites & Branding: EasyLandlordWebsites.com