Fidelity Direct Mortgage LLC - Spencer Bangert

10/23/2026

FAQ I get weekly: "I have student loans — can I still buy?"

Short answer: usually yes. Here's why:
• Lenders look at your monthly PAYMENT, not the total balance. A $40k balance with a $200/mo income-driven payment affects you way less than you'd think.
• What matters is your debt-to-income ratio (DTI). Most programs allow up to 45–50%.
• Paying down the balance doesn't help as much as people expect — it's the monthly payment that counts in the math.

Don't self-disqualify. Let the actual numbers decide. Different products use different payments (when there is not payment) and Maryland Mortgage Program can actually pay off your student loans! Let's talk details.

10/21/2026

The #1 mistake I see investors make on DSCR loans: using fantasy rent numbers. Use reality not a spreadsheet fantasy.

Here's how it actually works — the lender uses the LOWER of:
• The rent on your current lease, or
• The market rent from the appraisal

So if you're buying at a price that only works at $2,400/mo but the appraiser says market rent is $2,000 — your DSCR just dropped and the deal may not qualify.

Rule of thumb: underwrite YOURSELF conservatively before the lender does it for you. If the deal works at market rent, it's a real deal.

10/19/2026

Ever wonder what an underwriter is actually checking? It comes down to 4 C's:

1. Credit — your history of paying on time (not a perfect score)
2. Capacity — can your income comfortably cover the payment? (debt-to-income ratio)
3. Collateral — is the home worth what you're paying? (that's the appraisal)
4. Capital — do you have reserves beyond the down payment? (Not every program requires reserves — but having them always strengthens your file.)

Most first-time buyers are stronger on these than they think. The ones who get surprised are the ones who never checked.

A 15-minute pre-approval conversation answers all four. Worth doing BEFORE you fall in love with a house.

10/16/2026

Real talk on rates: the 30-year fixed just hit 7.40% — the highest since late 2023 (Freddie Mac, week ending Oct 8).

Here's my honest take for buyers this fall:
1. Don't buy the rate — buy the PAYMENT. If the monthly payment works for your budget today, the rate is a detail you can revisit with a refinance later.
2. ARMs and temporary buydowns exist for exactly this environment. More buyers are using them to keep year-one payments manageable.
3. Less competition right now = more negotiating power on price and seller credits. That matters.

Waiting for 6% again is a gamble with no timeline. Buying the right house at the right price with a payment you can afford — that's a plan.

Want me to run your numbers at today's rates? That's literally what I do all day.

10/14/2026

Investing in rentals? There's one number that matters more than your W-2: your DSCR.

DSCR = monthly rent ÷ monthly PITIA (principal, interest, taxes, insurance, HOA).

• 1.25+ → strong deal, best terms
• 1.00–1.24 → financeable, slightly higher rate
• Under 1.00 → we CAN still do it — it takes more down payment and stronger reserves, but the deal isn't dead

The beauty of a DSCR loan: we qualify the PROPERTY, not your personal income. No tax returns, no pay stubs — the rent has to carry the deal.

Investors — what's the DSCR on your last deal? Most people have never run it.

10/12/2026

This weekend I held another first time home buyer seminar and was asked for than once to confirm that you don't need 20% down to buy your first home. Most first-time buyers I work with put down 3–5%.
Here's the real breakdown:
• Conventional: as little as 3% down
• FHA: 3.5% down
• VA: 0% down (veterans & active-duty military)
• USDA: 0% down (eligible rural areas)
• The trade-off for less than 20% on conventional is PMI — and on most loans it drops off once you build enough equity.
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Waiting years to save 20% while prices and rents climb can cost more than PMI ever will. The math is worth running before you assume you're "not ready."
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Questions about what you'd actually need down? Drop them below — happy to walk through it.

08/19/2026

5.0 star review received on Experience.com for Spencer Bangert by Kyle C - Timely responses and always ready to dive in to answer and question.

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08/19/2026

5.0 star review received on Experience.com for Spencer Bangert by Juli B - You gave me a weekly call instead of sending me a text, email, or video. You introduced yourself before my client selected your offer to assure me he could perform. When there was a slight glitch, you called me. I'm old school and love the phone! Thank you for your diligence and follow up.

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08/15/2026

5.0 star review received on Experience.com for Spencer Bangert by Joel S - Spencer is always so responsive and informative. As an agent it is a pleasure to work with him.

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08/11/2026

5.0 star review received on Experience.com for Spencer Bangert by Gwendolyn S - Mr. Spencer was very knowledgeable in all aspects of the questions that I asked. As well as the process. He was very friendly. I wish I would have know about this company at First. Thank you Mr. Spencer

Click to see all 249 reviews of Spencer Bangert, Sales Manager