The acronym mortgage and Realty show is sponsored by academic mortgage and equal housing lender and[inaudible] and academic Realty advisors, which is a separate company from, but still affiliated with accurate mortgage.
Speaker 2:Welcome to the accurate mortgage and real to show getting you inside information on buying, selling, and financing your home with expert advice from accurate that mortgage and Realty. And now here's Brian and David Wickers. Welcome to the
Speaker 1:First edition of the accurate mortgage and Realty show for 2021 on Brian Wicker, the president and majority owner vacuumed mortgage and accident Realty advisors over there on the other side is David Wichert, who is the mortgage company's chief client experience officer happy new year, David and happy new year to you. Dad are right. I want you to know I did make it to midnight. Although I was at home with it
Speaker 3:A hundred percent, I was in bed by nine 30. So I have Y it's like you and I switched bodies, but anyway,
Speaker 1:There you go. I'm all about that. Well, if you have a question or a comment you can call or text us on the acronym, mortgage talk and text line, which is(855) 616-1620. You can also grab a podcast of today's show or any of our past shows wherever you normally download your podcasts. All right. So mortgage rates ticked out this week. We're going to tell you by how much later on in the show I wanted to start out with, since it's the new year and a lot of people are thinking, you know what, maybe I should buy my first home or others are thinking, you know what? My home is too small. Um, I, I need to add on that gym and I don't want to pay for it. So I'm just going to sell and buy otherwise known as a move up buyer, which is typically about two thirds of the overall market. I took a look at the phenome home purchasing sentiment index, uh, which the latest one available was published in December and reflected the November survey. And it dipped to a reading of 80 that's down from 81.7 in October. Uh, but the first thing I want to point out to our listeners is that they do segregate existing home buyers from renters. Which one do you think has a higher sentiment towards home buying the existing buyers or owners or the renters?
Speaker 3:I'm going to guess, uh, I'm going to guess existing home buyers. Uh, and the reason why is because home ownership is maybe less scary or the idea of buying a house is more inviting to people who have already done it rather than maybe renters who are afraid or unsure of how to do that. So that might tamper their sentiment to, uh, buying a house.
Speaker 1:Well, your logic aligns with reality because the home purchasing sentiment index for home existing homeowners is 86.3 and renters is 69.3. And so if you kind of look at that data series over time, there is typically a spread, but it's a little wider. That's a 15 points Fred right now, uh, versus, you know, past periods outside of COVID, um, where it's more like a 10 point spread, which would speak to your general unfamiliarity with Holbein. All right. So this survey asked six basic questions. The first one is, is it a good time to buy? And 57% of people said, yes, that's down 3% from October. Um, but it's also down 10% from a year ago. So kind of a big dip from a year ago as to whether it's a good time to buy, um, any theories on that.
Speaker 3:Oh, I was going to say, I think number one might be job security, uh, or not, not feeling confident, maybe in where your personal finances might be three, six, 12, 18 months from now. That would hold a lot of people back. I think,
Speaker 1:Well, we're going to come to that because that's a separate component of the six components of the index, but I'm going to say it has to do with people know that the inventory is tight and tighter than it was last year. Okay. So it's a difficult time to buy it. Yeah. All right. Well, yeah, no, you want to push back on?
Speaker 3:Uh, yeah, I think it's all, you know, the sentiment. It's all one big box and it's good. We should talk about and think through, I think it's all, it's a recipe. There are ingredients to make this pie of sentiment. That's all.
Speaker 1:Okay. Well, the next question is, is it a good time to sell 59% said, yes, that's up 2% from October,
Speaker 2:But it's down 14%
Speaker 1:From a year ago. So why would people say it's not a good time to start?
Speaker 3:Well, there I, Hey, if I sell my house, congratulations now, where am I going to go live? You know, I think about, you know, Tim and grace, if they sold their home in Wauwatosa, it's a great time. But now it's like, Hey, we got two kids. Where are we going to go live? Now? I think that holds people back from selling.
Speaker 1:All right. And we're going to talk about that a little bit later in the show is to how to buy your next home when you already own one, uh, without selling, uh, the number three, uh, sentiment element is the home price outlook, right? This was surprising to me only 41% said, prices are going to go up in the next 12 months. Hmm. 13% there. So they were going to go down. So the 41% is an 8% improvement from October, but a 6% slip from a year ago. And now what happened? I will answer this question. Well, you know, why would the home price outlook improve from October, uh, to November? Think about that. We'll give you the answer, my answer. Anyway, when we come back, you're listening to the academic mortgage and Realty show on am six 20 WTMJ
Speaker 2:Home buying advice from the guys who know it best. This is the accurate mortgage and Realty show with Brian Wichert on WTMJ our right,
Speaker 1:We're talking about the Fannie Mae home price sentiment to see them. How do people feel about buying and selling homes as we're coming into the new year? We're looking at the surveying that they did in November. Uh, and, uh, that was published in December. I should just point out that, you know, we're at 80 right now on that home purchase sentiment index. Um, and that kind of puts us back to where we were in December of 2016. We got up as high as 91.5 a year ago before COVID. Then we dipped down to a reading in the low sixties, like 62. So we've climbed back up a nice amount, uh, up to a index of 80. And that's a con uh, combination of six things. Is it a good time to buy? Is it a good time to sell what's your home price outlook? So we looked at those three things already. Uh, what about the mortgage rate outlook? Well, 8% of respondents said, man, maybe rates can go down farther. 43% say rates are going up. Um, that's a 14% reduction in the folks who thinks who think rates are going down. Uh, so people are kind of saying, we think that rates have reached their low point. What do you think David?
Speaker 3:Uh, I I'd be curious. What information are these? 43%. If I heard your number correctly referencing to say, Oh, rates are going up.
Speaker 1:Um, just, I think it's their feeling. It's their collective, you know, perception of the universe. So yeah, they don't, they don't know. Well, well, what we're seeing at the scene, right? We think we should go to stay steady.
Speaker 3:Well, let's, let's split out two things. Nobody buys a house because of where interest rates are. They buy it,
Speaker 1:Wait a minute. That's what all the, that's what all the pilots say, the national association of realtors, Oh, home prices and selling are on fire because of the rates are so low. Not the guys that actually have mortgage. We say belonging. Why do people buy homes?
Speaker 3:Well, because, uh, life events happen. I'll speak to myself, my wife, Christy, and I bought a house this year. Not because we, you know, rates were at all-time lows, but because Hey, we got married and we'd like to buy a house the same in 1985, when you and mom bought a house, it was like, who cares? What rates are? We want to buy a house because that's the progression that people go through in life.
Speaker 1:Um, now none of that, you mentioned that when we did move from Cedarburg to, uh, Brookfield, I did get a two year arm. That seemed like a good idea because fixed rate mortgages were so high. I had an adjustable rate mortgage that could change after just two years. All right. Well, anyway, that's, that's what people think job loss, concern. You were speaking to this over the next 12 months, 76% of consumers say they're not concerned about losing their job in the next year, but 24% are concerned that six points worse than in October and 20 points worse than a year ago. And you were pointing out that there's still every week. How many thousand?
Speaker 4:How many hundred thousands? Yeah, many hundred,
Speaker 1:770,000. I think it was this last week that applied for unemployment insurance for the first time. So there's still different. Definitely a rolling unemployment threat, uh, out there that people perceive. And then the last thing is the change in household income over the next 12 months, 24% say higher, 18% lower and 68% implied no change. So I'm going to say that's a math, you know, no big deal there. So in general, home buying and selling sentiment is still strong. Uh, maybe a little bit down from October, but it's still way better than it was, um, at the bottom of the pandemic, um, problem for real estate and certainly interest rates are helping. Now, one of the big impediments, uh, to buying your next home bef before, you know, when you own a home already is we know that if you write the offer that says, Oh, I'll buy your house. As soon as I saw mine, that offer, ain't getting accepted, you know, 96% of the time. Okay. So how can you navigate this transition between your old house and the new house it's called a bridge loan. And we're going to talk about that. When we come back, you're listening to the academic mortgage and Realty show on Wisconsin's radio station am six 20 w T M J
Speaker 4:Getting you into the home of your dreams. Here's more of an accurate mortgage and real to show with Brian Wicker on WTMJ. So let's say you're turning the page on your car
Speaker 1:Calendar, and you're thinking, you know what? We need to get out of this small. And boy, this happens to us all the time, David, doesn't it, I'm just thinking of this couple up in the twin cities. We're licensed to lend not only in Wisconsin, but also in Minnesota, Illinois, and Florida. And this particular thought that came to my mind just at this moment is, Hey, we have two kids and a third one on the way, or maybe the third one just arrived and we need to get out of this small home and into a larger one. And so how am I going to make that transition without writing a stinky offer? The stinky offer would be all by my home as soon as I saw the one that I own now. And so the answer is a bridge financing and what a bridge loan is quite simply is a large home equity, cash out refi, uh, with a couple of differences. Everybody knows you're going to pay it off as soon as possible. Okay. Uh, and secondly, you typically only have to make interest payments. So from a cashflow standpoint, you know, and I've had many people that are cooking along with a 15 year fixed on their existing home. When they decide to buy the next one, it was like, well, that's a giant payment and then, Oh yeah, I'm escrowing taxes. Oh boy, here's another$600 that you've got to. So by doing a bridge loan, you're not obligated to escrow for taxes. In fact, I don't know any bridge loan lender who will allow you to escrow for taxes, right? So it's just the interest on the principal balance, which makes the monthly nut more tenable. Now I can, that will help a person get a bridge loan if you need a mortgage on the new home. Okay. We don't do standalone bridge loans. I can introduce you to people who do we have three banks that we work with with slightly different approval criteria, um, and also closing costs and so on because you are going to pay some closing costs on a bridge loan, why the lender isn't going to have your loan for very long. And so they need to make this a profitable product for them, but it's not horrible. Like I'm doing one for, uh, I actually have one approved for a long time, a friend who owns a property on wind Lake. And let me mention this about that particular example, they waited to start the bridge loan approval process until after they have the accepted offer on their new home. Don't do that. Okay. Let's get,
Speaker 3:That's what you burn as you described that. Cause it's Oh my God.
Speaker 1:It was terrible. Well, yeah. And luckily it was a for sale by owner and the property was kind of unique. So they were able to talk the seller into allowing a 45 day approval on the bridge loan. So it was very unique seller. That's all sure. I'll wait around a month and a half to see if you get approved on your bridge loan. Right? So the thing to do is to get the rock solid guaranteed. Pre-approval from accurate on the first mortgage that you're going to use to buy the new house. And at the same time, we will help you get pre-approved for the bridge loan. Now in, in almost all cases, not all but many, you're going to have to get an appraisal on your old house for the bridge launder to feel comfortable about lending you 80% of that value and giving you a lot of cash to use on the down payment on the new house, because that is the purpose of the bridge loan is to extract some, not all of the equity. We have to leave you with 20% remaining equity because you're going to have some selling costs. And what if you're wrong on the price or the bridge loan lender was wrong on estimating the value, right? You don't want to have to come to the closing table when you eventually sell your existing home. You have a question or comment to,
Speaker 3:I was just going to say, because that's, that's just emphasize your point. It's because you haven't sold your house yet, but Hey, I got all this equity locked up in my house. I would like to use that as some of my down payment. So it is it's the bridge. It's kind of the perfect metaphor. I'm going to take you from this side of San Francisco
Speaker 1:To this side of San Francisco over the golden gate bridge loan. That's right. So, so it typically is a loan on the existing home. If you don't have 20% equity in your existing home, there ain't no bridge loan. Okay. So then what we have to do is look at other alternatives. Um, I think I'm going to wait to talk about that until after it is, but a couple more words about the bridge loan. We have to qualify you using the interest only payment on your old house, plus the taxes and insurance. So, so part of this is what I call a financial stress test. We have to make sure that in the eyes of that new first mortgage that you're going to have on your new home, you can afford to carry both payments. So there's a mathematical test for that, that we're going to do where we're going to count the taxes and insurance on that old home, even though you're not writing out the check every month. Okay. Yeah. But we're going to count that in our analysis of, can you afford the new, uh, mortgage on the new home? And then of course, when you do sell your existing old home, your bridge loan is paid off and you get the rest of your equity after your real estate commission and other costs of selling. So we're going to talk a little bit about after the news, how do you make that transition from your old house to your new house? If you don't have 20% equity, all right. It's time for the news. We're going to turn it over to Tony Bedak and the 24 hour news center over to you.
Speaker 4:Don't break the fat to get into a house back to the acronym, mortgage and Realty show with Brian Wicker on melody. GMJ all right. We're talking about how to
Speaker 1:Buy your next house. If you're already on one. And the strategy number one is for those people that have to have 20% equity or more actually, because we can provide a loan, a bridge loan on your old home to help extract the equity. As long as you have at least 20% equity remaining after we do the bridge loan. But what if you don't have 20% equity? You know what, if you're sitting there and you've got, you know, 15% equity or 10% equity in your home, well, Aboriginal is not going to help you. So a couple of things you can put as little as 5% down on the new home that's thing, number one. And so the cool thing, uh, you know, the good news is you don't have to be a first time home buyer to get 5% down. And that's for loan amounts up to$548,250. So that gets a lot of people into it. But yeah, if you write your new offer and it says, Hey, the good news is they don't have to sell my home. The bad news is Emily putting 5% down. That's not the strongest offer in the eyes of the seller. Yes, you meet the absolute knockout criteria. But if the next person says that they're going to put 15 or 20% down and not have to sell a that's is going to naturally look better, uh, to the seller because the seller is thinking, Hey, if you're only putting 5% down, I got zero wiggle room on this thing called the appraisal. So what can we do to get your, um, down payment greater than 5%? Well, our go-to tool is, do you have a grandmother or grandfather, a mother, a father and uncle who could somebody use some money? Somebody. Yeah. And then if you wanted to, you could gift the money back to them after you sell your home. Okay. But it's going to be a gift. It can't be, Hey, this is a loan. You can't do a loan. It has to be a gift. And you sign a letter that says there's no obligation to pay it back. But if you want to have a handshake deal with your grandma, which God I'd hope you keep it. That says, if you give me 20 grand. Yeah, yeah. If you give me 20 grand to help me buy this next house, after I sell my old one, I will re gift you the 20 grand. So it gives us our favorite thing. And in fact, in that story that is talking about the people needing the bigger house, that's exactly what we're going to do. The mom is, is going to gift$130,000 to provide the down payment on the new home. And then after the kids sell theirs, they might re gift some of that money back. And of course, we had to go down the whole rabbit hole with are not going to pay gobs of gift tax. And we've covered that in other episodes where you can give more than$15,000 without incurring any gift tax. Um, so, so that's one thing. Now, if there is nobody to give you any money, then another cool thing we could do to help you get from the old home to the new home is what we call a piggyback mortgage on the new house. And in order to do a piggyback set up on the new house, you got to have at least 10% down. Okay. So you have to muster 10% down from a gift or, or your savings. You know, you can, by the way, borrow the money out. A lot of 401k, uh, or life insurance. Yeah. Life investment. I think another thing that people often overlook, um, and then what you can take home as a$10,000 out of an IRA, uh, without penalty. But I think if you're a first time home buyer, we'll, we'll check that on our next break. So if you can come up with a 10% down for the new house, let's say you're buying a$500,000 house. You come up with the 50 grand somewhere, then we, but, but you've got another 50 grand, you know, tied up in equity in your home, but it's not enough to do a bridge loan. We can give you a first mortgage reflecting a 20% down payment. And then we can fill in with a home equity line of credit for the other 10%. Because what we're talking about here is you come with 10%, but you don't want to pay PMI. Cause in, in the not too distant future, you're going to have the 20% equity. So you put down the 10% initial down payment, we make you two loans at the closing table. One equal to 80% of the value of the home. And the other one being the home equity line equal to 10% of walleye. We given you 90% financing in the form of two lawns. And then after you sell your existing home, you pay down the home equity line, as far as you can, or to zero, you leave it open because it's kind of fun to have a home equity line available for future projects. For sure. That is another, I call that the reverse bridge loan where we kind of make it two loans. And sometimes we've actually done all three or bridge loan on the old house and two mortgages on the new one. So the point of this story is you got to deal with a mortgage lender who has all the tools in the tool belt. And we think we'd like to nominate Acushnet mortgage for that lender who has all the tools and knows how to use them. All right, when we come back, I've got, let's do a quick rate, a Roundup because mortgage rates are no longer at all-time historic lows. We're going to tell you exactly how much they spiked last week. And then we're also going to have a story about somebody who was be dazzled by the rate, which we call the bait and didn't even see the hook, which is the closing costs. You're listening to Wisconsin's radio station am 6:00 AM, six 20. WTMJ
Speaker 2:Find a place to call home without the headache. This is the accurate mortgage and Realty show with Brian Wickers on WTMJ.
Speaker 1:Oh, right. That's a roundabout. If I ever heard one didn't know what that was. When this song came out. Wasn't roundabout. Alright, well, rates are no longer at all. Time record lows, David. Nope. They're gone. This last Thursday, Freddie Mac primary market mortgage survey reported the rate was 0.01% higher than the week before. So we're at 2.67. Now instead of 2.6, six, that's not a$200,000 loan to buy a home, not to refi, but that's only if you're willing to pay seven tenths of a percent of the loan balance and points or lender fees. So that's an extra$1,400 on a$200,000 loan. And you know how I know that David, that it's only an apprentice because we're in the cool kids club now that's right. I signed us up successfully to participate in the Freddie Mac survey. And so they very specifically say, give us your best rate on a$200,000 loan with 20% equity on a purchase. Okay. So the thing to know is that there's a difference now between purchase interest rates and refinances. It's about one eighth of 1%. So in other words, if we're talking about a 2.625 to buy a home, it's going to be 2.75 for a refinance with similar qualities. All right. But now let's just dive into where we ended the, um, so we would have been able to offer 2.625%, which is slightly lower than the 2.67 average rate. We would have had a charged 0.8, seven, five in points, uh, to hit that on Thursday. Remember the Freddie Mac rates are from Tuesday, not Thursday when they're released. So not using Thursdays. I'll have to try to keep track now of our Tuesday rates so we can make it an apples to apples. Um, if you were talking to, uh, to an accurate loan consultant, however about purchasing a$250,000 home with 20% down, which would give you that$200,000 loan amount, you would have been offered these three choices on Friday. Would you like the 2.625 kind of that trophy rate you'd have had to pay$2,988 a bone cost best door. Number one, door number two, 2.75 with 1738 that's$1,250 less than option number one, or would you like 2.8, seven five with$538 in total loan costs? David what's the savvy question that a consumer should be asking,
Speaker 3:Well, when am I going to break? Even if I choose one option over the other.
Speaker 1:That's right. So in other words, what's the payment difference we're talking about the payment difference is are you ready? Drum roll if we had it$13 and 19 cents per month. So in order for you to actually benefit from the 2.625 interest rate with the$2,988 of closing costs, compared to the 2.875 with only 538 bucks, that's a difference in closing costs of 2,450 bucks, you would have to be in the loan for 7.5 years just to get back to breakeven. And so we lay this out and we point out to people, you know, you get all, these are great options. What do you need right now while you're buying this home? Do you need a payment? That's$26 and 30 cents lower. Okay.
Speaker 3:I need 20,$48. I need to save$2,400 so I can go buy a snowblower. Cause it's snowed twice in one week. That's I need cash so I can put things in my house. But if you have a really long view, okay?
Speaker 1:And you're like, Nope, you know what? I don't eat my vegetables. And I know that in seven and a half to eight years, I am going to start saving 13 or$26 a month, depending on which you choose. Well, then God, you know exactly how long it's going to be. All right. Um, whenever you hear that weekly average mortgage rate reported, I want you to remember these four things it's applicable only to mortgage amounts of$200,000 used to buy an owner occupied or vacation home with 20% equity and excellent credit. The rate always comes with points. When you hear that Freddie Mac. So average rate this week rates for refinances thing. Number three, rates for refinances are one eighth of 1% higher than the rate you're hearing advertised. And it only applies to single family detached homes. If you're talking about a condo or a duplex with 20% down, you will have significantly higher rates and or points. So there's your translation. There's a lot more that goes into pricing your loan. Uh, but when we come back, I want to talk about a Chicago police officer, uh, retired, who called me this last week and how she almost got bamboozled in my opinion, by a two and a quarter rate from her existing servicer out of refi. We'll cover that when we come back, you're listening to the academic mortgage in Realty show on am six 20 WTMJ
Speaker 4:Expert advice on buying a home. Here's more of the accurate mortgage unwieldy wieldy show with Brian Wicker on WGN, Jay. All right,
Speaker 1:That's a little bit of wild cherry coming back. Last week, we talked about how the rate is the bait, but the closing cost, our hook are the hook. I want to share a story about a retired Chicago police officer who was referred by another Chicago, retired police officer and longtime in a client. Let's call her Betty, not her real name. And she had gotten quotes and actually paperwork, um, for her two mortgages to refi both of them from her existing mortgage servicer, uh, who happens to be Wells Fargo. Now she's got 4.75 on both her Chicago condo, primary residence and her Cape coral, Florida condo, second home,$94,000 balance on her primary residence,$70,000 balance on her Florida condo. She says, and she said, Oh, Paul, my good buddy says, I gotta call you because he's, you're his mortgage guy. And boy, has he been a great guy over the years, sending us lots of Chicago police officers for us to do right by it. And we appreciate that. So the paperwork from Wells Fargo, uh, shows her a tremendously attractive rate of 2.2, 5%, which she was able to identify. David, what do you think she had no clue on, uh,
Speaker 4:Just to get that very attractive looking rate?
Speaker 1:Correct. So this was on$94,000 loan. I said, find the document called the loan estimate, go to page two and look at the line D like dog for total loan costs at the bottom of the first column. You want to guess what her costs were for that$94,000, new loan
Speaker 4:Thousands,$10,000.
Speaker 1:No. All right. It wasn't that bad.$3,800 though.
Speaker 4:Okay. So now
Speaker 1:Accurate could match the rate of 2.25 with$940 less than costs, which is a full point under 94,901, but that's not what I think she should do because she couldn't quite find it. But I sort of backed into this number on the Florida refinance because Florida has higher title costs and also a transfer tax because they have no state income tax. So whenever you do a mortgage, they tax that I estimated that Wells Fargo's costs on that$70,000 Florida condo would be, are you ready?$4,000. So here she was trusting her existing mortgage lender that, yep. I think I should probably spend$7,800 to refinance my two mortgages. Any idea what I suggested she considered David
Speaker 3:That she not do that, uh, or, or, Hey, how's about, how's about an eighth. Let's try to reduce that cost. How can we do that? How's about an eighth or a quarter higher interest rate. Well,
Speaker 1:No, that Florida costs are insanely high. Remember I'm telling you 4,000 to refinance
Speaker 4:70 grand
Speaker 1:Ridiculous amount of money. That's almost what is that? Eight, six, that's almost 6% of the principal balance you're going to spend to refinance it. Yeah. That's that is absolutely ridiculous. So I was looking for ways to avoid refinancing the Florida property. I said, you know what, we're going to take a look at pulling equity because she's got a ton of equity in her, Chicago. I should've probably told you that part of the story or Chicago condo. She thinks it worth two 50. She's got a balance of 94.[inaudible] okay. All right. I should have mentioned that in the setup. So I'm saying let's pull 70 grand cash out. Now. That's not going to get her as good a rate. Okay. But I can do 2.8, seven five on a, she wants a 15 year cash out refi. And her costs on the Chicago transaction are going to only be$1,100. So that is like a$6,700 reduction.
Speaker 3:And you're going to take, you're going to take the cash out from that Chicago and just pay the Florida house zero. That interest rate on the Florida condo is now 0%. That's right. Or it's baked into her Chicago condo. That's right.
Speaker 1:So, so we're going to, so, you know, we did the math, I'm going to give her another call. She applied online over their week or over the weekend here, he's got great credit and everything. And so I think this is really the way to go because otherwise, what does everybody do with those 3000 Oh eight,$7,800 of closing costs? They roll them into their new mortgage. And so she would have been chewing up and I'm going to do that on her 1100, but she's going to have$6,700 more equity after this is all done in mortgage lender, continuing education. I think they call it equity stripping when you take people's equity way, but here's this big bank. And all they know is to emphasize the rate.
Speaker 4:And you know,
Speaker 1:And I know people are spending way too much on closing costs, by the way, your combined payment of doing it separately, uh, versus doing it by way at the higher, we're still going to save her$10 a month. But the big headline is we're going to save her$6,700 in loan costs. And plus then she tells me, Hey, you know what I, cause I took the time to ask her, how long do you think you're going to still own two properties and maybe sell both and like, you know, get a better place in Florida where it's warm and no snow. She's, you know, probably a couple, two, three years that again, another reason not to blow a$7,800 on low-income sorry. So the rate is the bait, the closing cost or the hook you need to know what's going on. And we are the guys that can help you do that. All a person needs to do to find out how much they can save. In fact, you can look up your own rates and closing costs now@econet.com when you click on the refi button and it's a pretty darn good estimate, cause we have you put in what kind of refire do you want to do? And what's your credit score and all that. But if you're in the mood to buy a new home in 2020 to one, please do yourself a big favor and don't settle for a flimsy preapproval from your bank. Find out how to get a rock solid guaranteed pre-approval by clicking on the blue button today@accunt.com. I think we're going to be back here next week. David, same time, same channel go Packers. You've been listening to the academic mortgage and Realty show on a Wisconsin's radio station am six 20 WTMJ. The proceeding was a paid program. Advice and opinions expressed during the accurate mortgage and Realty show are solely that of the hosts or guests of academic mortgage and accurate Realty advisors and not WTMJ radio or good karma brands, Milwaukee LLC.