BRICKbyBRICK: Building Homeownership w/ Suzi Beaver

Mortgage 101: Unlocking the Basics of Home Financing

Suzi Beaver Episode 2

Did you know that over 60% of homebuyers don’t understand the difference between fixed and adjustable-rate mortgages? In this episode of BRICK by BRICK: Building Homeownership, Suzi Beaver, your energetic branch manager at Castle & Cooke Mortgage in Marshville, NC, breaks down the essentials of mortgages with passion and care!

  • Join Suzi as she guides first-time buyers through a relatable journey from college graduation to homeownership.
  • Learn what a mortgage is: an agreement where a lender can take the property if you don’t repay the borrowed money plus interest.
  • Explore key terms like PITI, HOA fees, and mortgage insurance.
  • Discover the differences between: 
    • Fixed-rate mortgages
    • Adjustable-rate mortgages
    • Government-backed loans
    • Conventional loans
    • Non-QM loans
  • Get the insider scoop on the mortgage application process: 
    • Pre-approval: a sneak peek at how much you can borrow, showing sellers you’re serious.
    • Documents needed: proof of income, employment, and assets (pay stubs, tax returns, bank statements).
    • Credit score: your financial report card—higher scores mean better rates (hint: future episode covers improving it!).
  • Suzi shares expert tips for first-time buyers: 
    • Get pre-approved with a lender before a realtor.
    • Treat your first home as a starter home, not your forever home.
  • With 30+ years of mortgage experience, Suzi emphasizes choosing a lender who listens to your unique story, because everyone has the right to own a home!

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Blessings!

Suz

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