The Utah Homebuyer’s Quest Podcast

The Interest rate you get is a pretty big deal.  In this episode, Nelson explains how YOUR rate is determined.  It’s not just about choosing the right lender – it’s about your credit score, your down payment, your closing costs and your time horizon….so many factors to understand!  In this episode, Nelson will help you make sense of it all so you know your options when it comes time to lock your rate!

Markets have been pretty VOLATILE lately and so have mortgage rates!  Have you ever wondered what causes rates to go up and down, and what you can do to protect yourself when you’re buying a home?  In this Episode, nelson explains the best ways to follow the market, and how and when you can lock in your interest rate.

In this episode, Nelson has 3 quick tips to help you succeed when working with a builder.  Builders and their agents and lender’s don’t always have the buyer’s best interests at heart – and this episode will help you protect yourself!

Is it smarter to buy an existing home or build a new one?  Which is a better investment?  In this episode, Nelson helps you understand the pros and cons of each option.  From lifestyle differences to financing considerations, Nelson helps you understand your choices and make an educated decision as you shop for your new home.

BOOK A MEETING WITH ME: https://www.uimcorp.net/get-startedIn this episode Nelson reviews the various proposals and programs from the government – from the Trump administration to your local cities and counties, and examines the question:  "Will this help or hurt?”Find us here: https://www.homebuyersquest.com/ https://www.facebook.com/groups/276441918638670/ https://open.spotify.com/show/4PL383lz7pzNJIjIuIWG6Y?si=cf5ef48882fe4c79 https://podcasts.apple.com/us/podcast/the-utah-homebuyers-quest-podcast/id1802069523Is the Trump administration going to help or hurt the housing market?  In Episode 19 of the Utah Home Buyer's Quest Podcast, host Nelson Barss unpacks the MANY new proposals that have come from the Trump administration and others as they try to drive down the cost of home ownership for Americans.  Some of these proposals may never actually happen, and others are already in full swing!  Are you curious if the 50-year mortgage will ever become common in our industry?  Are you wondering if the ban on institutional investors buying single-family homes is really going to happen? Are you curious if you’ll be able to take money from your 401(k) for down payment on a home in the future?  Would you like to know if these programs will help you, or possibly hurt you in the future?  Tune in to hear these proposals and more explained and examined by a local expert. #50yearmortgage #homebuyergrants #government assistance #trumpadministration #homeownershipvsrenting #buyingahomeinutah #utahrealestate #firsttimehomebuyer #homebuyingtips #governmenthelpforhomebuyers #rentvsown #utahhomebuyer #realestategoals #homeownershipjourney #mortgagetips #utahhousingmarket

In this episode Nelson compares the risks and benefits of homeownership to renting. Isn't it also a commitment to sign a lease? Are you ready in every way to buy a home but fear is still holding you back? This episode is for you!

The best houses in our market sell quickly, and often there are multiple buyers competing for the same house.  In this episode, Nelson shares many tips to help you compete and win against other buyers for our dream home!

Sometimes a mortgage pre-approval can be a fragile thing.  In this episode Nelson gives you the Do's and Don'ts to keep you from the disaster scenario that could happen if your financing falls through on a home purchase!

Have you heard storied of deals falling apart at the last minute because "financing fell through?" Those stories are usually the result of a bad pre-approval. In this episode, Nelson walks you through a typical pre-approval process at Utah Independent Mortgage Corp. You'll see the level of professionalism and diligence that is required for a solid, reliable pre-approval. Nelson also shares the real risks and costs of relying on a flimsy pre-approval.

Nelson explains 7 reasons he believes the conventional 1% down program from our lending partner UWM is the best way for first-time buyers to finance their home.  Listen to learn how this program can help you avoid excessive fees, get a lower payment, and preserve your refinance options for the future.

Trick question: Is Mortgage Insurance Good or Bad? Mortgage insurance can be very good because it helps us buy a home with less than 20% down payment, but it can be bad if you're not careful. Many buyers are wasting thousands of dollars on up-front mortgage insurance or monthly mortgage insurance, all because they didn't know that this piece of the loan is a great place to focus for savings! In this episodes Nelson lays out some rules of thumb designed to help you make the right decisions around mortgage insurance.

In this episode, Nelson focuses on the decision that each buyer must make when they lock their loan.  Should I go for a lower rate, or lower fees.  Is it possible to get both?  Nelson explains how many buyers who intend to refinance in the near future are wasting thousands of dollars by focusing only on the interest rate.

In this episode Nelson explains the very popular 2/1 (Temporary) interest rate buydown and compares it to the concept of a permanent buydown, also known as paying points.  These are powerful options to reduce your monthly payment and make home-ownership more affordable for first-time buyers and those looking to move up to their next home, but which one is right for you?  Listen to this episode for some wise advice for structuring your best possible mortgage option!

Nelson reviews 5 tips for business owners who may struggle to get a mortgage.  Do you write-off too much to qualify?   Nelson will teach you how to balance your tax savings goals with your home-ownership dreams.  This is actionable advice you can take with you to your next tax filing appointment.  Nelson will also explore alternative ways to document your income such as profit & loss statements or 1099’s and bank statements instead of using your tax returns to qualify and discusses the pros and cons of these alternative “non-QM” loan products. 

Nelson has worked as a loan officer for some of the larges mortgage banks in the state. Now he chooses to operate as an independent mortgage broker. In this episode Nelson lays out the differences between brokers and lenders, and explains why he chooses this business model to better serve his clients.

In this episode, Nelson explains how to rapidly solve credit problems. Whether you have simple issues that can be solved with a “rapid-rescore”, or mid-level problems that need more time, this episode will help you! Nelson also discusses the most complex credit problems that may require professional credit repair or even bankruptcy. The underlying message in all of it is that there are easily understandable ways to improve your credit, and it's often faster than you think!

In this episode, Nelson surveys the options available to Utahns for down payment.  We will discuss ways you can save for your down payment, ways to borrow your down payment, and the various down-payment assistance options available in Utah today.   If down payment is your only obstacle to homeownership, this episode will show you many ways to move forward now!

Many potential homebuyers are denied a mortgage due to a high debt-to-income ratio.  In this episode, Nelson reviews a half-dozen quick tips that you can use to fix a broken debt-to-income ratio immediately.  This isn’t about waiting a few years to see if your situation improves!  This episode is about ideas and actions you can take immediately to turn your denial into an approval, reset your budget to make room for a house payment, and become a homeowner much sooner than you may have thought!

Would you like to buy a home that has an Accessory Dwelling Unit (ADU)?  In this Episode, Nelson walks through the guidelines and shows you how this option can increase your purchasing power, and make homes more affordable.  Nelson also explores an interesting idea: buyers could finance the costs of renovating a home to add an apartment by buying their first home with a renovation loan!

In this episode Nelson "zooms out" to give an overview of the home buying road map.  Listen for an insightful preview of your journey from pre-approval to closing day and beyond!

In our 2nd Basecamp Episode, Nelson walks through the general requirements for a mortgage.  Are you wondering what credit score is needed to buy a home?  How much down payment you need, or what kind of income and work history is required?  Listen as Nelson answers these questions in simple terms that you can understand.

Welcome to the Utah Home Buyers Quest podcast hosted by Nelson Bars. Join us as we embark on a journey to explore the astonishing benefits of homeownership and its pivotal role in securing your financial future. In our inaugural Basecamp episode, Nelson, a seasoned mortgage broker with over 20 years of experience, shares invaluable insights into why owning a home is more than just desirable—it's essential.Discover the lifestyle benefits that go beyond financial gain, as we delve into the freedom, stability, and self-reliance homeownership offers. We'll also explore the financial advantages, backed by compelling statistics from Harvard's Joint Center for Housing Studies and the Federal Reserve, illustrating exactly how the power of leverage and compounding interest may dramatically increase a homeowner's net worth compared to a renter.Whether you're prepared to make the leap now or planning for the future, this episode offers guidance on assembling the right team of professionals and taking advantage of life-changing opportunities.With Nelson's passionate guidance, the Utah Home Buyers Quest podcast is here to help you overcome barriers to homeownership, enrich your lifestyle, and build the wealth that makes a difference. Tune in to broaden your horizon, overcome doubts, and steadfastly progress on your quest to achieve the dream of owning a home. Don't let challenges deter you—embrace this empowering journey with us!

Welcome to the premiere episode of the Utah Home Buyers Quest podcast with your host, Nelson Barss. Dive into the challenging landscape of home buying in Utah. Nelson is an experienced mortgage broker with over 23 years in the industry.  He is here to guide you through the complexities of the home buying process. Whether you're struggling with credit issues, qualifying for a loan, or just understanding the market, this podcast will help!In this introductory episode, get to know Nelson, his mission, and his vision for this podcast. Listen as he shares his personal experiences and insights from helping thousands of clients secure their homes. Discover the difference between working with a mortgage broker and a loan officer, and how Nelson's approach puts your needs first.Prepare for an exciting journey where you’ll learn about various financing options, down payment assistance programs, and strategies to overcome common home buying obstacles. The Utah Home Buyers Quest offers unique guidance tailored specifically for Utah residents, ensuring you’re well-equipped to conquer the 'Everest' of real estate endeavors. Join us weekly for updates, expert interviews, and motivational stories to fuel your quest for a new home. Plus, engage with a supportive community in our Facebook group for continued learning and interaction.Embark on this quest with confidence, knowing that you have a dedicated guide to walk with you every step of the way as you navigate the path to homeownership. Subscribe now and take the first step towards realizing your dream home, because at Utah Home Buyers Quest, we believe in you and your journey.