In this episode of the Financially Fit Couple podcast, host and CFP® Matthew Gray sits down with real estate financing expert Annie King to discuss various aspects of buying a home. They cover crucial topics including financing a first home, purchasing a second home or vacation property, and house hacking. Annie also explains the myths around the 20% down payment, the nuances of PMI, and the ins and outs of home equity loans and lines of credit. Additionally, they delve into scenarios like selling an existing home to build a new one, keeping your old house as a rental, and financing home renovations. The episode wraps up with practical advice for couples considering investment properties and the importance of early preparation in the home-buying process.
00:00 Welcome to the Financially Fit Couple
01:05 Annie King's Journey in Mortgage Lending
03:05 Understanding Loan Programs for First-Time Home Buyers
05:55 Debunking the 20% Down Payment Myth
08:48 Navigating the Process of Selling and Buying a New Home
12:54 Building a New Home: Land and Construction Loans
16:21 Exploring House Hacking
17:49 Understanding Down Payments for Second Homes
19:57 Financing Home Additions and Renovations
21:32 Home Equity Loans and Lines of Credit Explained
27:11 Pros and Cons of Moving vs. Renovating
28:05 Getting Started with Investment Properties
31:22 Preparing for the Home Buying Process
33:53 Conclusion and Final Thoughts
Annie King
540-437-7402
annie.king@pvfcu.org
https://www.pvfcu.org/mortgage/
Matthew Gray
https://www.linkedin.com/in/matthew-gray-cfp%C2%AE-5a2144134/
https://schrockfin.com/
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