Smart Mortgage Show with Bill Litton

As interest rates continue to decline, refinancing has become a hot topic for homeowners in 2024 and is expected to remain so in 2025. In this episode, Bill Litton from Cross Country Mortgage discusses key considerations for those looking to refinance their homes. Here's what we discuss in this episode: 0:00 – Intro 1:33 – Where to refinance   3:01 – Finding the best lender 4:33 – Sniffing out des...

When the time comes to purchase a home, one of the big decisions you have to make is how much money to put down on the property. Twenty percent is a key number because it allows you to avoid PMI, but is that the best decision financially? Today we're going to answer a question about down payments from someone whose friend told them it would be a better idea to put the minimum down and let equity b...

All eyes are on the election this week because of the impact it might have across the economy. But will the results matter for mortgage rates? This week's market update is all about rates rising despite the Fed's recent cuts and what impact the election will have on the housing market. Here's what we discuss in this episode: 0:00 – Intro 2:25 – Specific causes of recent rate increases. 3:57 – Does...

When it comes to buying a home, everyone dreams of a smooth and celebratory settlement process. Making it to the closing table should be a positive experience, but not all mortgage journeys end happily. Today we're going to discuss why some mortgage loans never make it to the closing table and how you can avoid these three main pitfalls. Learn more about three main areas that can derail a mortgage...

What should I expect during the pre-approval process? It's a big question for homebuyers, especially if they are going through the process for the first time. Buying a home is one of the most significant decisions you'll make, and understanding the pre-approval process can make this journey smoother and more successful.   Here's what we discuss in this episode: 0:00 – Intro 2:21 – Where does a goo...

Paying off a mortgage is a major goal for many as they approach retirement. People often wonder how quickly they should pay it off or by what age should they have the mortgage completely paid down. But is that always the best strategy? Comparison can often be the thief of joy so let's talk about why it's important to run your own race and move at a pace that's best for you. Bill shares insights on...

Recently, the Federal Reserve announced a significant rate cut, the first in four years, reducing the federal funds rate by half a percent. This news had many consumers excited, expecting a substantial drop in mortgage rates. However, the reality turned out to be quite different, leaving many wondering why mortgage rates didn't fall as anticipated.   Here's what we discuss in this episode: 0:00 –...

Finding a trusted lender can be a big challenge because it's difficult to know where to start. If you go to a place like LendingTree or Bankrate, you might find your phone or email being bombarded with lenders trying to reach out to you. A simple inquiry shouldn't be an invite to flood your inbox. But there is a better way, and Bill breaks it down in this episode of the Smart Mortgage Show. Join u...

Building good credit is a huge part of being able to secure a mortgage for a home. However, not all of us are in the position credit-wise that we need to be, so how do we fix that? Many potential homeowners face the challenge of securing a mortgage with less-than-perfect credit. But don't give up! In this episode, Bill shares strategies for rebuilding your credit and securing better mortgage rates...

The average home buyer shops for a mortgage only a few times in their life so it's a challenge to know if you're getting a good deal. No one wants a surprise when it comes time to close, but how do you know if you're getting a good deal from your mortgage lender?   Here's what we discuss in this episode: 0:00 – Intro 2:29 – Get it in writing.   7:04 – Where to find accurate numbers. 9:02 – Treat y...

The mortgage market has been interesting to follow the past few months and September is no different with the upcoming Fed meeting on everyone's calendar. Join us as we check in with Bill on what he's watching in that meeting and why the comments from Chairman Powell might actually be more important. Will the meeting result in lower mortgage rates immediately and will this be different than the ra...

Real estate investing is a great way to build wealth but one of the toughest hurdles is having the money to put down on that new property. You might be tempted to pull from retirement accounts, sell stocks, or find other creative ways to pull together 20% for a down payment. But what's going to be your best approach? Today we're going to answer a great real estate investment question we received f...

Homeownership is a financial and personal goal that many folks have in their lives, and it's hard to prepare for when you haven't experienced it yet. Most first-time homebuyers will look at the cost of the home and what it will take to secure a mortgage, but how much have you budgeted for the expenses that come with owning a home?   Here's what we discuss in this episode: 0:00 – Intro 1:33 – Prope...

We've been keeping a close eye on real estate transactions and homebuying following the National Association of Realtors (NAR) Commission settlement because it has been a hot topic in the real estate industry, and for good reason. This settlement has introduced new dynamics in how real estate transactions are conducted, particularly affecting the roles and compensations of buyer's agents. Find out...

It's been pretty rough across markets the past week beginning with the jobs report at the start of August. While the news been negative and the outlook for the stock market is pessimistic, there might be a silver lining as it relates to mortgage rates. Prediction markets have greatly increased the chances that rates get cut by 50 bps in September, which will be welcomed news for homebuyers. Will m...

Bill Litton and Cross Country Mortgage ​work ​with ​seniors ​quite ​a ​bit ​through ​the ​home​buying ​process. ​And ​the ​question ​that ​comes ​up ​quite ​a ​bit ​is, ​how ​do ​you ​calculate ​that ​home ​affordability? ​Is ​it ​different ​when ​you're ​working ​with ​seniors ​versus ​when ​you're ​working ​with ​a ​younger ​buyer? ​ Today ​we're ​going ​to explore the unique challenges and stra...

Today we're going to give you the questions to ask your mortgage lender to help determine if they are the right fit. From understanding their availability during non-traditional hours to ensuring they offer a variety of programs that fit your unique situation, this episode is packed with valuable insights. Whether you're a first-time homebuyer or looking to refinance, these questions will help you...

We talk all the time about the importance of having a real estate agent on your side when it comes time to find your next home, but do you know what you should be asking them? Today we want to help you with the process of finding the right agent that will assist you and give you the best chance to secure that dream home. If you haven't been getting the answers you've wanted during your search, you...

Heading into July, the biggest news is that inventory is starting to rise. More homes are hitting the market, which is a good trend to see. In this episode, we'll dive into the rising inventory and what that means for buyers and sellers. Bill also provides insights into the current interest rate trends and what buyers can expect in the coming months. As we move further into the summer, we want to...

Today we want to talk about refinancing and what you need to know if you're considering a refinance for your home. What ​do ​you ​need ​to ​know ​if ​you're ​thinking ​about ​refinancing? ​When ​does ​it ​make ​sense? ​What ​are ​some ​of ​the ​top ​reasons ​someone ​would ​want ​to ​refinance? ​We're ​going ​to ​discuss ​all ​that ​and ​break ​down ​refinancing ​in today's video.   Here's what we...

In the ever-evolving world of real estate, mortgage options are a hot topic, especially for first-time homebuyers. One such option that has recently gained attention is the zero-down mortgage. In this video, we're going to help potential homeowners understand its benefits and drawbacks. What's the catch? Tune in as we break it all down.   Here's what we discuss in this episode: 0:00 – Intro 0:58 –...

Buying a home is one of the most significant financial decisions you'll ever make. Yet, many buyers fall into common traps that can cost them time, money, and a lot of frustration Today we want to share some of the biggest mistakes homebuyers and explain how we help people at Cross Country avoid doing these same things. From the importance of pre-approval to the dangers of holding out for perfecti...

The US economy has started to slow according to the latest data so what will that mean for mortgage rates? Will the rates begin to come back down a bit more or will they continue to hold around 7%? In this video, we're going to provide a market update for June. We've been tracking the data and will continue to do so throughout the summer, and we're seeing and hearing a little more pessimism than p...

When it comes to financing major expenses, homeowners often find themselves at a crossroads. Should you pull from savings, take out a loan, or perhaps, consider a home equity line of credit (HELOC)? Today, we're tackling that question: is tapping into your home equity through a line of credit a savvy move for major expenses? Join us as we sit down with Bill, a regional president at Cross Country M...