Understanding Rate Locks, PMI and Appraisal Gap Coverage with Mike Bower

Did you KNOW that the term Mortgage means "DEATH PLEDGE"?  YIKES!!!  Mike Bower of CMG Home Loans is back with Brad Weisman to discuss RATE LOCKS, PMI (private mortgage insurance), and Appraisal Gap Coverage.  Things you need to know when you are purchasing a home! Ever question the real implications behind the term 'mortgage'? Get ready to have your mind blown as Mike Bower, our mortgage whizz, takes us through a thrilling exploration of the current tumultuous market and the perks of rate locks. We delve into the fascinating world of "Rate Flex", a program granting borrowers the privilege to relock if rates drop before closing – talk about a safety net!Mike sheds light on why Appraisal Gap Coverage is a staple in this competitive market. He shares tips to keep your cash safely tucked away in the bank, even amidst the whirlwind of appraisal gap coverage. Talk to your lender, ask the right questions.  Tune in for an episode packed with wisdom and essential pointers for your mortgage journey!#bradweisman #MikeBower #appraisalgapcoverage #PMI #RateFlex #realestateagent #mortgage #homeloan ---Welcome to The Brad Weisman Show, where we dive into the world of real people, real life, and everything in between with your host, Brad Weisman! 🎙️ Join us for candid conversations, laughter, and a fresh take on the real world. Get ready to explore the ups and downs of life with a side of humor. From property to personality, we've got it all covered. Tune in, laugh along, and let's get real! 🏡🌟 #TheBradWeismanShow #RealPeopleRealLife  Credits - The music for my podcast was written and performed by Jeff Miller.