In this episode, I’m joined by my favorite mortgage broker, Dean Piller. Dean came to the office today to record “The Reside Realtor Online Radio Show” and it gave me the idea to introduce Dean to the Reside Daily Bite crowd.
We briefly talk about the upcoming radio show in which we talk about “The Cost of Waiting” to purchase a home. The federal tax credit is set to expire, FHA may be raising the downpayment requirements, private mortgage insurance will be increasing, interest rates will be going up, and home values may be rising. This is a great episode for those of you sitting on the fence. You can listen by clicking episode 006. — The Cost of Waiting.
Hello everybody and welcome to the Reside Daily Bite; I’m your host, David Doucette and today, I’m joined by one of my favorite mortgage broker, Dean Piller.
David: Dean, thanks for joining us.
Dean: Thank you.
David: And Dean is actually here today because we’re getting ready to record our podcast of the Reside Realtor Online Radio Show and the title that we’ve just decided upon is, “The Cost of Waiting“. And Dean, what are we going to be talking about in that episode?
Dean: Well there are some economic realities to waiting. The market could go down a little bit but as we’ve seen it now, it’s starting to go up and that moving up, coupled with high interest rates (which are guaranteed to be coming down the road), you could be, as David said, in on a $500,000 house paying $400-500 a month more by waiting. Plus, the taxing, the government giveaway is going to be expiring June 30. When that happens, you’re going to lose that $8,000 tax credit. So, there are a lot of costs here.
David: And the FHA requirements, the downpayment may be increasing, so, this is really going to be an episode for the fence sitters; definitely tune in to the Reside Daily Bite. You can contact that at DeanPiller.com
Dean: That’s correct.
David: My name is David Doucette, thanks for joining us today.