Jason R Doughty - Mortgage Planner

Jason R Doughty - Mortgage Planner Crafted Home Loans

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Can you roll your debt into the home purchase? 💭 It’s a great question, and while you can’t directly roll credit card or...
12/03/2024

Can you roll your debt into the home purchase? 💭 It’s a great question, and while you can’t directly roll credit card or student loan debt into a mortgage, there are ways to manage debt while buying a home.

Here are a few strategies homeowners use:

1️⃣ Cash-Out Refinance: Once you’ve built equity in your home, this option allows you to refinance your mortgage for more than you owe and take the difference in cash. This can help you pay off high-interest debts like credit cards, giving you more control over your finances.

2️⃣ Home Equity Loan: After purchasing your home and building up equity, you can take out a loan against that equity. The funds from this loan can be used to consolidate debt, and the interest rates are usually lower than those on credit cards.

3️⃣ Higher Loan-to-Value Mortgage: Some loan programs allow you to borrow more, which can free up cash for debt repayment. However, keep in mind that a higher loan-to-value (LTV) ratio might require private mortgage insurance (PMI), so be sure to weigh the costs.

While it’s important to reduce debt to boost your buying power, these options could help you manage it after your purchase.

Still have questions about how debt impacts your home-buying journey? Drop them below or send me a DM!

❤️ Like this post and 💾 save for future reference. Know someone who could benefit from this? Share it with them now!

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Who is planning to look at homes on the weekend? 🏡 But first... have you clarified your financing strategy?For those who...
10/21/2024

Who is planning to look at homes on the weekend? 🏡

But first... have you clarified your financing strategy?

For those who have already talked to a lender (or are preparing to) ... here are some great questions to ask them so you are most prepared:

✨ What types of loans do you offer?

Make sure they have a variety of loan options to fit your needs.

✨ What are the interest rates and fees for each loan type based on my credit/asset profile?

Get a clear understanding of the total cost, including interest rates and fees.

✨ What are the qualifying criteria for these loans?
Know the eligibility requirements to gauge your approval chances.

✨ Can you explain the offer submission strategy and what to expect once under contract?

Understand the steps and timelines involved.

✨ What is my cost over time, net-worth, and tax advantages per loan program offered?

✨ What happens if interest rates change before I close on my home?

Learn how rate changes could affect your loan, especially in a fluctuating market.

✨ How will you help me find the best finance strategy (not just interest rate)?

Ensure they are committed to tailoring options to your specific needs.

We’re here to help you navigate the mortgage process and find your dream home.

Reach out to us this weekend with any questions or if you need assistance.

Happy house hunting!

Thinking about buying a home? Here's some insightful data on mortgage interest rates that might help you understand the...
10/04/2024

Thinking about buying a home?

Here's some insightful data on mortgage interest rates that might help you understand the current market landscape. 📊

From Q1 2013 through Q1 2024, we've seen significant changes in mortgage rates.

The percentage of loans with rates under 4% surged during the pandemic, peaking at 65.2% in early 2022. Today, that number stands at 57.3%.

Similarly, loans under 5% peaked at 85.5% and are now at 76.0%.

These historically low rates have made it challenging for current homeowners to sell, leading to lower existing home inventory levels.

However, the percentage of loans over 6% has increased from 7.2% in mid-2022 to 14.3% by the end of 2023.

Despite these shifts, owning a home is still a valuable and achievable goal.

If you're ready to explore your options and navigate this market, let's connect and find the best path for you.

Your dream home is within reach!

To finally have a place to call your own, you need to take bold steps that others may fear.The difference between endles...
09/27/2024

To finally have a place to call your own, you need to take bold steps that others may fear.

The difference between endlessly renting and owning your dream home is taking that extra step.

It’s about having the courage to take educated risks and make decisive moves.

Playing it safe won’t get you there—you must be daring, determined, and proactive.

Our team is here to help you elevate your life and achieve homeownership which could be a few months from now or years.

Doesn't matter to us as long as you have a plan in place.

Don't worry, if you are worried about buying a home in today's market due to the interest rates... then perhaps consider...
09/25/2024

Don't worry, if you are worried about buying a home in today's market due to the interest rates... then perhaps consider the following:

If You Buy Now, You Can Refinance When Rates Drop: You have the option to refinance if rates go down. Let's decide on a housing budget that you feel you can afford monthly and see what home price this allows you to shop for.

Don’t Wait Too Long: If rates keep rising, you might miss out on today’s rates or worse now that the same home is listed at a higher price. Yes, you can always refinance the rate, but you can't go back in time and get 2019 home prices.

Beyond Interest Rates: Your monthly payment is influenced by more than just interest rates—think about HOA fees, rising home prices, and buydowns. This is why we focus on strategy over rate. Sometimes the lowest interest rate with the wrong strategy can end up costing you more overtime.

Staying informed helps you make the best financial decisions.

Have questions?

Send us a message!

A recent Bankrate survey found that homeownership is still a central part of the American Dream. But what’s holding peop...
09/23/2024

A recent Bankrate survey found that homeownership is still a central part of the American Dream.

But what’s holding people back from affording a down payment and closing costs?

Top reasons include:

• Income isn’t high enough: 54%

• Cost of living is too high: 51%

What does your American Dream look like?

Survey Insights:

• Over half of aspiring homeowners cite low income and high cost of living as major obstacles.

• While homeownership remains a key goal, affordability is the main challenge.

If this sounds like you (or your clients), shoot us a DM so we can show you how we are solving the home affordability challenge for so many right now!

There is just something that hits differently when you can share with your clients that they are pre-approved and ready ...
09/20/2024

There is just something that hits differently when you can share with your clients that they are pre-approved and ready to start house shopping THIS WEEKEND!

And for those who may not know...

We offer same-day pre-approvals!

Faster pre-approvals mean quicker offers, helping you get into your dream home sooner.

If you’re eager to start house hunting this weekend, let’s chat today!

Send us a DM and we’ll schedule a meeting.

Tips for Saving for a Home While Renting 🏡Being proactive with your money is crucial when saving for a home. Regularly r...
09/18/2024

Tips for Saving for a Home While Renting 🏡

Being proactive with your money is crucial when saving for a home.

Regularly reviewing your spending and monitoring your bank account can help you catch unwanted subscriptions and cut unnecessary expenses.

But don’t forget, life is meant to be enjoyed!

Make sure to treat yourself occasionally too.

PS - we offer free consultations if you'd like to casually discuss your future homeownership goals.

Let's be real - packing and moving is the not-so-fun part when relocating... and can be even harder with kids. 👩‍👩‍👧‍👦 S...
09/16/2024

Let's be real - packing and moving is the not-so-fun part when relocating... and can be even harder with kids. 👩‍👩‍👧‍👦

So, here are 6 creative ways to involve them in the process:

1. Treasure Hunt

2. Moving Day Party

3. Create a Scrapbook

4. Decorate Moving Boxes

5. Room Design Planner

6. Goodbye and Hello Letters

Please share with someone you know who may be relocating this Fall!📦🏡

📈 Check out the expected home appreciation for each year from 2024 to 2028 in today's graphic.If you (or someone you kno...
09/13/2024

📈 Check out the expected home appreciation for each year from 2024 to 2028 in today's graphic.

If you (or someone you know) are on the fence about buying real estate, share this post with them!

Have a great day!

Wondering how a cash-out refinance can help with credit card debt? Then [SAVE] this post!💳 Consolidate Debt: Pay off hi...
09/11/2024

Wondering how a cash-out refinance can help with credit card debt? Then [SAVE] this post!

💳 Consolidate Debt:

Pay off high-interest credit cards with a lower-interest mortgage loan, saving money on interest payments.

💳 Lower Interest Rates:

Mortgage rates are usually lower than credit card rates, so you’ll save on interest costs.

💳 Single Monthly Payment:

Combine multiple debts into one monthly payment, making it easier to manage and budget.

Want to learn more about a cash-out refinance? Message us today!

Address

6825 E Tennessee Avenue Suite 415
Denver, CO
80224

Telephone

+17206481419

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