Episode Details

Some of the transcription from today's Santa Clarita Lending and Mortgage show.

Aiden MacIvor - Santa Clarita Lender: (03:46)
Culpable, I think ultimately, um, it's any person can just talk, you know, how up today are you with desktop underwriter? Oh, well we don't really use that system. That's a little outdated. We use our own. Yeah. Yeah. I feel like anyone can talk to a lot of it. So I think ultimately if you want to know, if you're working with someone that knows what they're doing, um, I always recommend asking a bunch of realtors, um, what their opinions are as far as the lending institution that person is associated with. Go on Google. See, you know, if there is a Yelp page, look at the reviews, you know, get it, you know, just the same way you would write any other service to it that way. Cause I think ultimately if you, um, if, if you just try to go with basically talking to the service provider, there's a chance that you might get, you know, a lot of, a lot of lies and a lot of deceit and not exactly what you intended to get out of that conversation. And then also there's on the other half, you may get exactly what you want, but I think it's important to still research a service provider,

Connor with Honor: (04:39)
The first parts of the first pro parts of the process. After you get done explaining the different programs out there, does it then do you then sit down with a client and maybe more customize what they're looking for?

Aiden MacIvor - Santa Clarita Lender: (04:53)
It seems that most people have a more broad desire. Most people don't have a very specific plan when they like, especially with a first-time buyer, they don't really have like a, I mean they have a dream home in mind. They just know that they're not in a position to buy a dream home. So now it's like my starter home. So from that angle where I kind of go in, and, and this is kind of how I think of it is recent. Uh, and I'm sure you've heard of an adjustable-rate mortgage. Um, the angle that I've been working with first-time buyers, as far as maybe a more specific plan would be, I ask, I say, okay, you're, you know, you're 20, you're 21, 22, you know, mid, mid-twenties, right. Uh, you're not, you're not gonna be retiring, I imagine next 10 years.

Aiden MacIvor - Santa Clarita Lender: (05:32)
So more than likely you're gonna wanna move eventually between now and when you're 35, if you're 25, so that's 10 years, it gives you 10 years to sell and move. So I say if you don't plan on keeping this house forever, or maybe you plan on renting it out in the future, uh, why not get an adjustable-rate mortgage, uh, because the interest rate for the locked period. So let's say we look at a 10, six on, so a 10, six adjustable rate mortgage basically means that it's gonna be having a fixed interest rate for 10 years. And then after that 10-year period is over, it's going to auto adjust every six months to a specific index, 

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