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Money Guy Show

Nuts and Bolts of Obtaining a Mortgage and How to Cut Closing Costs

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 4 February 2008

⏱️ 35 minutes

🧾️ Download transcript

Summary

January is officially history and there was a tremendous amount of volatility. On today's show I share how you can turn the lemons of January into sweet lemonade that can provide complete peace of mind on one of your largest assets (your home). For more information, visit the show notes at www.moneyguy.com/2008/02/nuts-and-bolts-of-obtaining-a-mortgage-and-how-to-cut-closing-costs Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:07.2

investing, taxing.

0:09.2

You've got financial questions, he's got financial answers.

0:12.8

It's Brian Preston, the money guy.

0:16.0

Welcome to The Money Guys Show.

0:17.0

I'm your host, Brian Preston.

0:18.8

I am a certified financial planner, a certified public accountant, and by day I'm a fee-only

0:23.6

wealth manager.

0:25.2

I'm here to try to restore order to your financial chaos and go beyond common sense.

0:30.2

What we're talking about today, when I start to wonder what am I going to talk about with

0:34.0

you guys?

0:35.0

I'm always amazed how things just fall in my lap.

0:37.6

What's happened, if we're looking for a silver lining and all this craziness that's

0:41.2

gone on in the equity markets where we've had the ups, the downs, there's one big silver

0:46.3

lining that has impacted my own personal financial life in the last two weeks, so I figured

0:51.1

I'd share it with you guys.

0:52.3

That is that mortgage interest rates on the 15-year and 30-year fixed-term rates are

0:59.6

actually in a great period to consider refinancing, or if you're buying a brand new house, this

1:05.3

is a great time to be locking in on some of these 15-year and 30-year rates.

1:09.4

Why am I saying that?

1:10.4

Because I'll tell you when I bought my house in 2004, the fixed rates, like on the 15-year

1:16.4

and 30-year, were much higher than the arm products.

...

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