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JON SANDERS, MORTGAGE LOAN OFFICER AT STOCK YARDS BANK & TRUST, SITS DOWN WITH US TO EXPLAIN MORTGAGES. JON BREAKS DOWN THE TERMINOLOGY AND GIVES US TIPS ON HOW TO GET A MORTGAGE FOR YOUR DREAM HOME.

Some questions answered in this episode?

  • How did Jon Sanders first get into the mortgage business?
  • How are mortgage rates determined?
  • How often do rates change and what are the current rates?
  • What are the most important things to think about when you’re looking to buy a house?
  • How do you know if you’re ready to purchase a house?
  • What advice would Jon give to somebody purchasing their first house?
  • What is the debt ratio and why is it important?
    • What is a good debt ratio?
  • How much should you save for your down payment?
  • What is Fannie Mae?
  • What is mortgage insurance and how big does your down payment need to be to avoid it?
  • What information do you need to provide to get a mortgage?
    • How does it change if you’re an entrepreneur?
  • What is a good credit score and when should you be worried about it?
  • What is Jon’s opinion on 15-year vs. 30-year mortgages and people paying off their mortgages early?
  • What is the biggest issue Jon sees with millennials purchasing houses?
  • When is somebody ready to reach out to Jon about purchasing a house?
  • What is refinancing and when should somebody refinance?
  • What is a home equity line of credit?
  • How does an escrow account work?
  • What are unexpected fees when purchasing a house?
  • Who is the perfect person to buy a house?
  • Should somebody pay off their mortgage early?

LAST CALL QUESTIONS AND ANSWERS:

  • What’s the best career advice you’ve received?
    • Be yourself.
  • What advice would you give to your 22 year old self?
    • Be yourself.
  • What’s the best purchase you’ve made in the last six months?
  • What is your definition of success?
    • Doing something you genuinely care about.
  • What book/documentary would you recommend?
  • What’s your favorite thing to drink?

SHOUTOUTS:

Be sure to learn more about Jon and say hey by connecting with him on Linkedin or Twitter, or email him at jon.sanders@syb.com.

Have any topics you want to be covered or amazing people you’d like us to interview? Let us know! You can email us at info@drunkenmoney.com. You can also find us on Facebook, Instagram, Twitter, and Linkedin. Please be sure to subscribe to our weekly mailing list at drunkenmoney.com/subscribe.