The Mortgage Guy

Hi everyone!! I am Frank Lowe. As a Mortgage Loan Originator, I created this page because I want to put a different spin on how people view mortgages. It's an entire world of fun facts and rules that I want to share with you. Most everyone is well aware that the housing market is very difficult right now. My company - Motto Mortgage Heritage - has creative strategies that have been winning offers, and that is KEY.... Please feel free to message me with ANY questions regarding home loans - if I don't have the answer immediately, I'll get one for you. I will always be 100% transparent, it's in my first name - Frank. LICENSED IN MISSOURI AND KANSAS!!!

Unless you literally have millions of dollars just laying around, if you think that putting MORE than 20% down into a home purchase is wise? PLEASE PLEASE PLEASE talk to your financial advisor!!

If you're renting, you're already paying off a mortgage.........it's just not yours.

You know you're getting older when you watch "Home Alone" and wonder how much their mortgage was.

A very common misconception is that cash + mortgages go together. Not true. Cash needs to be "seasoned" in a bank account for at least two months. (There are exceptions but they typically don't fly.) ... If you are curious as to why, just watch the show "Ozark."

LOWEDOWN FACT #12: If you pay an extra $100 per month on your mortgage, you can shave off approximately 5 years on the loan.

LOWEDOWN FACT #11: The recommended mortgage payment is around 28% of your monthly salary. For example - if you make $3,000 per month, your mortgage payment should be around $840.

LOWEDOWN FACT #10: I work for a mortgage brokerage. What that means is we are not the lenders, rather we are the "go-between" between clients and lenders. What does that also mean? We do all of the shopping and work for you!

The tables are starting to turn! This is great news for buyers!! https://www.nytimes.com//the-us-real-estate-market-begins-

LOWEDOWN FACT #9: The median first-time homebuyer age is increasing every year. Currently it is 33 years old (according to the National Association of Realtors). That is the oldest age on record since 1981.

BUYERS/BUYER'S AGENTS - are you feeling this way? Talk to me about how I can help - I have gotten many contracts as of late because I can do some pretty cool things!

LOWEDOWN FACT #8: There are some lenders that will accept an FHA loan with a 500-580 credit score if you put 10% down. This comes with some "catches" though, but it is possible!

LOWEDOWN FACT #7: Did you know that you don't have to put 20% down to get a Conventional loan? You can do less - for some buyers just 3%!!!

HOMEOWNERS IN MO & KS: Have you refinanced in the past year? If not, there has never been a better time!!! Give me a call or email or whatever and we can discuss. I can attest that the ones I have been doing lately cost the owners close to $0 (not always the case, but it's how the math is done!)

MORE GOOD NEWS!!!!! With lumber prices now falling, the cost of building should drop drastically. https://www.google.com//lumber-prices-bubble-burst-pr/amp/