Mortgage Made Easy with Steve Smith

Steve Smith is a 15 year veteran of the mortgage originator business. He’s also a man of many talents: he’s a musician, singer, and award-winning fisherman! As a mortgage advisor he’s here to answer all our mortgage-related questions with Young Lee on this illuminating episode of Chicago Business Review. 

Fannie Mae and Freddie Mac are federally backed home mortgage companies created by the United States Congress. They buy and guarantee mortgages issued through lenders in the secondary mortgage market. Steve is talking about Fannie and Freddie and where interest rates are likely to go, as he encourages first-time buyers to lock in a rate early on. 

Don't just take property advice from a family member! There are more options available to consumers than ever before and people like Steve Smith are expertly positioned to walk you through the mortgage process and prepare you for owning property. 

Perspective has a lot to do with how we view the interest rates and the changing property landscape, and thanks to Steve's 15-plus years of experience, his perspective is worth its weight in gold!

(on having a fixed mortgage rate) “It’s worth not having sleepless nights. Because when rates go up, they can go up in a day. We can start today at 6.125 and end today at 6.5. And we’ve seen it happen!”

In This Episode:

What is going on with interest rates?Steve’s real estate background and how he got into the mortgage industryUnderstanding ‘flow down’ – renegotiating a lower mortgage rateThe value of having your property underwritten by a lender Misconceptions and mistakes that first-time buyers makeThe importance of being fully underwritten Flawed buyer mentality of believing you can't get a loanRefinancing your property and renegotiating your lending rateUnderstanding the benefits of owning property sooner Setting up a home equity loan for family emergency spending

And so much more!

Connect with Steve Smith:

Website - Steve Smith at Proper Rate (NMLS #217419) - SVP of Mortgage Lending Bannockburn, IL 60015Email - [email protected]

Connect with Young Lee:

Facebook - Young Lee | FacebookLinkedIn - Young Lee - Host of the Chicago Business Review Podcast/Show