Episode notes
That super-low mortgage rate might not be saving you as much money as you think.
In this episode, Todd sits down with mortgage expert Patrick Glaros and Ian Daniels to talk about the “lock-in effect” and why homeowners with 2% and 3% mortgage rates may be holding onto them at a much bigger cost than they realize.
We break down how keeping a low mortgage rate can impact your bigger financial picture, especially if you’re carrying high-interest credit card debt, auto loans, or other consumer debt. We also discuss options like home equity loans and HELOCs that may allow homeowners to access equity without giving up their existing first mortgage.
But this conversation isn’t only about the math.
Sometimes staying locked into a house because of the interest rate can keep your family from moving closer to work, getting into the right school district, gaining the space you need, or simply living where you actually want to live.
The goal isn’t to convince you to sell your home, refinance, or take on more debt. It’s to help you look at the entire picture your home, your debt, your equity, your monthly cash flow, and the life you actually want to live.
If a low mortgage rate is the main thing keeping you from making a move, it may be time to run the numbers and have the conversation.
Here is the link to the debt consolidation calculator that we referenced in the podcast: https://www.patrickglaros.com/calculators/debt-consolidation
Call or Text us ANYTIME 214-216-2161 or visit www.dallashomerealty.com
THIS SHOW IS BROUGHT TO YOU BY:
The Patrick Glaros Mortgage Team: (469) 399-2411
Republic Title: (972) 423-8777
our insurance guy, Kyle Freire with TWFG Insurance: (954) 594-5347
And the Todd Tramonte Home Selling Team: (214) 216-2161