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Mortgages and Refinancing: What You Need to Know

May 28, 2021
Mortgages and refinancing shows man and woman holding a house cutout.
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Global Wealth Advisors Financial Planning and Wealth Management

With current interest rates low and a housing market that is hot, this week we host a lending professional who shares the latest information on mortgages and refinancing.  In this episode of 𝙔𝙤𝙪𝙧 𝙈𝙤𝙣𝙚𝙮 𝙈𝙤𝙢𝙚𝙣𝙩𝙪𝙢, CERTIFIED FINANCIAL PLANNER™ Professional Tom Kennedy chats with Mortgage Loan Officer Cori Scherer about the current climate of the mortgage business.  They discuss how first-time homebuyers can frame their situation in the best possible light, the perils of credit scores and how to improve them, various types of loan rates, and the best time to refinance.

Guest Bio: Cori Scherer

Cori Scherer is a mortgage lender for U.S. Bank. She specializes in single-family, residential mortgage loans, business development, and client relations.  She is passionate about financial wellness and educating clients on ways to improve their financial health by sharing tips, reviews, and information on her Instagram account at @corischerer.  Cori has worked in mortgage lending in the Houston area for the past three years and holds a Bachelor of Arts from the University of Arizona.

Host Bio: Tom Kennedy, CFP®

Tom joined Global Wealth Advisors in our Houston, Texas office in 2018 and became a managing partner in 2021.  With over a dozen years of experience, he serves as our host of Your Money Momentum, a GWA podcast on financially related topics.  He graduated from the University of Colorado at Boulder with a Bachelor of Science in Finance and holds the CERTIFIED FINANCIAL PLANNER certification which is awarded by the Certified Financial Planner Board of Standards, Inc.  In a partnership between Columbia University’s Earth Institute and Alliance Bernstein, he also earned the Climate Change and Investment Academy Certificate.  In 2021 he was elected to serve on the board for United Against Human Trafficking where he assists the nonprofit with business planning, fundraising, and providing trafficking survivors with the financial skills necessary to reduce risk of revictimization.  He holds the FINRA Series 6, 7, 63 and 66 securities registrations with Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor.

Mortgages and Refinancing – Find it Fast

5:12        What to do as a first-time homebuyer
6:26        What defines a good credit score for top-tier rate
7:56         Risk and interest rates
8:44        Other factors lenders look at
10:53      Mortgage insurance
13:40      Determining what you can afford
15:10       Rates and types of terms
17:40      Current rates
18:30      How to know when to refinance
20:17      The effects COVID-19 has had on mortgage lending
21:51       Red flags for lenders
22:50     Improving your credit score

Listen in to Your Money Momentum published every other Friday, just in time for your morning commute.

Music: PWISBYRuff

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