Recently, the Federal Reserve announced a significant rate cut, the first in four years, reducing the federal funds rate by half a percent. This news had many consumers excited, expecting a substantial drop in mortgage rates. However, the reality turned out to be quite different, leaving many wondering why mortgage rates didn't fall as anticipated.   Here’s what we discuss in this episode: 0:00 – Intro 0:34 – First reaction to rate cut 2:03 – Rate cut already baked in 4:39 – Key economic indicators 7:36 – Exploring your options   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Finding a trusted lender can be a big challenge because it’s difficult to know where to start. If you go to a place like LendingTree or Bankrate, you might find your phone or email being bombarded with lenders trying to reach out to you. A simple inquiry shouldn’t be an invite to flood your inbox. But there is a better way, and Bill breaks it down in this episode of the Smart Mortgage Show. Join us to get valuable insights on how to identify reliable lenders, learn why local relationships are valuable, and to make sure you’re asking the right questions. Tune in for practical advice on securing a mortgage without the hassle of spammy lenders.   Here’s what we discuss in this episode: 0:00 – Intro 1:12 – LendingTree and Bankrate: what do they do? 5:23 – How to find that trusted lender   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Building good credit is a huge part of being able to secure a mortgage for a home. However, not all of us are in the position credit-wise that we need to be, so how do we fix that? Many potential homeowners face the challenge of securing a mortgage with less-than-perfect credit. But don't give up! In this episode, Bill shares strategies for rebuilding your credit and securing better mortgage rates.   Here’s what we discuss in this episode: 0:00 – Intro 2:14 – Ways to improve your credit 5:21 – Goals to set when eliminating debt 6:20 – Secured credit cards   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

The average home buyer shops for a mortgage only a few times in their life so it’s a challenge to know if you’re getting a good deal. No one wants a surprise when it comes time to close, but how do you know if you’re getting a good deal from your mortgage lender?   Here’s what we discuss in this episode: 0:00 – Intro 2:29 – Get it in writing.   7:04 – Where to find accurate numbers. 9:02 – Treat your money how you would treat your home.   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

The mortgage market has been interesting to follow the past few months and September is no different with the upcoming Fed meeting on everyone’s calendar. Join us as we check in with Bill on what he’s watching in that meeting and why the comments from Chairman Powell might actually be more important. Will the meeting result in lower mortgage rates immediately and will this be different than the rate dip we saw in 2023? Plus, refinancing is up dramatically year-over-year and we’ll talk about when it makes sense to start inquiring about a potential refinance on your own property.  There’s a lot to cover this month and we’d love to hear from you in the comments if there’s something you’re interested in.   Here’s what we discuss in this episode: 0:00 – Intro 0:22 – Upcoming Fed meeting 4:38 – Rate outlook 6:24 – Refinance demand is up   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Real estate investing is a great way to build wealth but one of the toughest hurdles is having the money to put down on that new property. You might be tempted to pull from retirement accounts, sell stocks, or find other creative ways to pull together 20% for a down payment. But what’s going to be your best approach? Today we’re going to answer a great real estate investment question we received from someone in this same position.   Here’s what we discuss in this episode: 0:00 – Intro 1:36 – PMI for investment property 3:30 – Options to avoid selling stocks 7:40 – Loan vs paying full down payment   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Homeownership is a financial and personal goal that many folks have in their lives, and it’s hard to prepare for when you haven’t experienced it yet. Most first-time homebuyers will look at the cost of the home and what it will take to secure a mortgage, but how much have you budgeted for the expenses that come with owning a home?   Here’s what we discuss in this episode: 0:00 – Intro 1:33 – Property Taxes 5:19 – Preparing for property taxes 6:10 – Homeowners insurance 9:35 – Working with the right insurance company 10:35 – Home maintenance   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151

We’ve been keeping a close eye on real estate transactions and homebuying following the National Association of Realtors (NAR) Commission settlement because it has been a hot topic in the real estate industry, and for good reason. This settlement has introduced new dynamics in how real estate transactions are conducted, particularly affecting the roles and compensations of buyer's agents. Find out why Pennsylvania is different than other states, why an experienced realtor is more important than ever, and what steps homebuyers should take following this settlement.   Here’s what we discuss in this episode: 0:00 – Intro 1:08 – What we’re seeing 2:18 – Pennsylvania buyer’s agreement 5:22 – Experience matters 6:58 – Uncertainty 8:19 – Recommendation for homebuyers   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

It’s been pretty rough across markets the past week beginning with the jobs report at the start of August. While the news been negative and the outlook for the stock market is pessimistic, there might be a silver lining as it relates to mortgage rates. Prediction markets have greatly increased the chances that rates get cut by 50 bps in September, which will be welcomed news for homebuyers. Will mortgage rates follow right behind or will we see rates drop even sooner? Today we’ll discuss the latest moves from the Federal Reserve, the future of rate cuts, and how to navigate the homebuying process in these uncertain times.   Here’s what we discuss in this episode: 0:00 – Intro 0:52 – What the Fed is seeing 3:00 – Rate decreases accelerated? 5:49 – Recession 7:25 – Mortgage rates 10:14 – What we’re watching   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Bill Litton and Cross Country Mortgage ​work ​with ​seniors ​quite ​a ​bit ​through ​the ​home​buying ​process. ​And ​the ​question ​that ​comes ​up ​quite ​a ​bit ​is, ​how ​do ​you ​calculate ​that ​home ​affordability? ​Is ​it ​different ​when ​you're ​working ​with ​seniors ​versus ​when ​you're ​working ​with ​a ​younger ​buyer? ​ Today ​we're ​going ​to explore the unique challenges and strategies involved in securing a mortgage for seniors and retirees, and we’ll tell you ​what ​you ​need ​to ​know if you’re in the market to buy.   Here’s what we discuss in this episode: 0:00 – Intro 1:46 – What we look at first 3:08 – Assets vs Income 6:12 – Purchase before you retire   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Today we’re going to give you the questions to ask your mortgage lender to help determine if they are the right fit. From understanding their availability during non-traditional hours to ensuring they offer a variety of programs that fit your unique situation, this episode is packed with valuable insights. Whether you're a first-time homebuyer or looking to refinance, these questions will help you find the right lender and secure the best mortgage.   Here’s what we discuss in this episode: 0:00 – Intro 2:00 – Availability 3:42 – How many lenders do you work with? 5:53 – Variety of programs and products 7:26 – Considering your full financial picture 9:25 – Knowing what you’ll have to pay   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

We talk all the time about the importance of having a real estate agent on your side when it comes time to find your next home, but do you know what you should be asking them? Today we want to help you with the process of finding the right agent that will assist you and give you the best chance to secure that dream home. If you haven’t been getting the answers you’ve wanted during your search, you might not be asking the correct questions. This episode will provide you with five key questions to ask your agent and we’ll explain what you want to learn from each of these answers.   Here’s what we discuss in this episode: 0:00 – Intro 0:44 – Value of an agent 2:06 – How long have you been in the business? 4:53 – References 7:31 – Number of clients 8:44 – Availability 9:46 – How much business each year?   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Heading into July, the biggest news is that inventory is starting to rise. More homes are hitting the market, which is a good trend to see. In this episode, we’ll dive into the rising inventory and what that means for buyers and sellers. Bill also provides insights into the current interest rate trends and what buyers can expect in the coming months. As we move further into the summer, we want to make sure you stay informed and proactive about your next home purchase. Whether you're a first-time homebuyer or looking to refinance, understanding the current market dynamics can help you make better decisions.   Here’s what we discuss in this episode: 0:00 – Intro 0:50 – Inventory is up 3:19 – The stress of buying in a seller’s market 5:08 – How does the lending process change with increased inventory? 7:05 – What are the rates doing currently?   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Today we want to talk about refinancing and what you need to know if you’re considering a refinance for your home. What ​do ​you ​need ​to ​know ​if ​you're ​thinking ​about ​refinancing? ​When ​does ​it ​make ​sense? ​What ​are ​some ​of ​the ​top ​reasons ​someone ​would ​want ​to ​refinance? ​We're ​going ​to ​discuss ​all ​that ​and ​break ​down ​refinancing ​in today’s video.   Here’s what we discuss in this episode: 0:00 – Intro 1:22 – Reasons to refinance 3:05 – How much of a rate drop is worth it? 5:23 – What the process looks like 6:40 – Closing costs 7:52 – Do you automatically qualify?   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

In the ever-evolving world of real estate, mortgage options are a hot topic, especially for first-time homebuyers. One such option that has recently gained attention is the zero-down mortgage. In this video, we’re going to help potential homeowners understand its benefits and drawbacks. What’s the catch? Tune in as we break it all down.   Here’s what we discuss in this episode: 0:00 – Intro 0:58 – Is this a new product? 2:07 – What are the drawbacks? 4:07 – Does it hurt your offer? 5:39 – What to look out for   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Buying a home is one of the most significant financial decisions you'll ever make. Yet, many buyers fall into common traps that can cost them time, money, and a lot of frustration Today we want to share some of the biggest mistakes homebuyers and explain how we help people at Cross Country avoid doing these same things. From the importance of pre-approval to the dangers of holding out for perfection, Bill breaks down the common pitfalls and offers actionable advice to help you navigate the homebuying process smoothly.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:44 – Putting off preapproval 4:19 – Holding out for perfection 7:00 – Buying more than you can afford 9:38 – Not working with an agent   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

The US economy has started to slow according to the latest data so what will that mean for mortgage rates? Will the rates begin to come back down a bit more or will they continue to hold around 7%? In this video, we’re going to provide a market update for June. We’ve been tracking the data and will continue to do so throughout the summer, and we’re seeing and hearing a little more pessimism than previous months. We’ll get into the latest economic data, the Federal Reserve's outlook, and what potential homebuyers can expect in the coming months. If you’re curious about where mortgage rates might be headed and how to navigate the current market, we think you’ll get a lot out of this video.   Here’s some of what we discuss in this episode: 0:00 – Intro 1:08 – Economic data 3:25 – Will interest rates follow? 5:22 – What rates do we anticipate? 6:19 – What are we watching in upcoming months?   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

When it comes to financing major expenses, homeowners often find themselves at a crossroads. Should you pull from savings, take out a loan, or perhaps, consider a home equity line of credit (HELOC)? Today, we're tackling that question: is tapping into your home equity through a line of credit a savvy move for major expenses? Join us as we sit down with Bill, a regional president at Cross Country Mortgage, to dissect the ins and outs of home equity lines of credit (HELOCs), their benefits, pitfalls, and how they compare to other loan types. Whether you're eyeing a home renovation or facing an unexpected bill, this episode is your guide to making informed decisions about leveraging your home's value.   Here’s some of what we discuss in this episode: 00:00 - Introduction and Overview of HELOC 04:34 - Importance of Paying Down a HELOC Quickly 09:18 - HELOC Options   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

As people approach retirement, one of the big decisions that couples will discuss is whether to downsize and move into a smaller home. Is it a financially savvy move? Does it simplify life? Or does it merely trade one set of complications for another? In this episode, Bill will share his experience from the mortgage lending side and help identify some of the factors that go into making a decision on where to live. From financial considerations to the emotional aspects of leaving a family home, they cover the full spectrum of what downsizing entails. Whether you're flush with cash or on a fixed income, this episode provides valuable insights into mortgage planning and the timing of your move.   Here’s some of what we discuss in this episode: 0:00 – Intro 4:46 – Timing and options for downsizing   CONTACT: Schedule a time to meet with Bill here: https://calendly.com/blitton/ Visit the Smart Mortgage Show website for more podcasts, videos and mortgage info: https://smartmortgageshow.com/ Call: 484-352-4151. Check us out on YouTube: https://bit.ly/3KbUxAF

Now that interest rates are up in the seven percent range and people are paying a higher rate for their mortgage, should you still be thinking about paying your mortgage as quickly as possible or continue making your scheduled payments over time? In this video, we’ll share our perspective as a mortgage lender and a company that works with people to help them reach their financial goals. Join us as we dissect the complexities of mortgage management in an era of fluctuating interest rates. We’ll explore the value of paying off your mortgage sooner versus investing in the market, the role of 401(k)s, and the nuances of 15-year vs. 30-year mortgages. Whether you're a new homeowner or nearing retirement, this episode offers valuable perspectives on making the most of your money.