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Brian Farwell

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Just because you have a 3% mortgage rate doesn’t mean you should keep your home as a rental.

I see this all the time. Homeowners are ready to move, but the thought of giving up their low interest rate makes them want to keep their current home and rent it out.

And sometimes that’s a great strategy!

But here’s what many people overlook.

When you sell your primary residence, you may qualify for up to $500,000 in tax-free capital gains as a married couple.

Turn that home into a rental for too long, and you could lose that valuable tax benefit.

So before you decide to become a landlord, ask yourself:

Is this actually a great investment property? Or am I just emotionally attached to a great interest rate?

A low interest rate doesn’t automatically make something a good investment.

Sometimes selling, taking advantage of the tax benefits, and putting that equity to work elsewhere is the smarter financial move.

#RealEstateInvesting #MortgageTips #HomeEquity #RealEstateAdvice

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Got a refund check from your mortgage lender after buying a home? Don’t spend it yet.

Property taxes can take a while to catch up to your new purchase price. Meanwhile, your lender may collect too much in escrow and send you a refund.

When the higher taxes finally hit, you could end up with an escrow shortage and a higher monthly payment.

My advice: before you cash it, call your lender and confirm your property taxes have been updated.

#homebuyertips #mortgageadvice #escrow #propertytaxes

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Carrying credit card debt at 20%+ interest? There may be a smarter way to handle it.

For some homeowners, moving that balance to a HELOC can cut the monthly interest by hundreds of dollars.

It isn’t for everyone. But if high-interest card debt is weighing on you, it’s worth running the numbers.

#mortgageadvice #creditcarddebt #HELOC #homeowners

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Making that extra call or spending an additional few minutes on a file can be all it takes to keep a deal together and help a client close their loan.

That is the level of service you get when you work with an experienced lending expert. Make sure you have someone in your corner that will help pushback, breakthrough and solve the obstacles that inevitably come up during an escrow.

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I just chose the more expensive bid on purpose.

Three companies bid my backyard turf. The lowest one never followed up. Not once in a month.

The one I picked answers my emails, answers my texts, and came out twice to help me get the cost down.

He wasn’t the cheapest. But he was the most engaged.

Whether it’s turf or a home loan, pay attention to how someone treats you before they have your business. That’s exactly how they’ll treat you after.

#homeloans #mortgagetips #customerservice #reputation #homebuying

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Buying a home is a lot like a golf swing. It looks like one motion, but it’s really a sequence and every step matters before the next one can work.

Talk to a lender first. Get pre-approved. Then shop with confidence, make your offer, open escrow, and close on your new home.

Skip the first step and the rest get harder. Trust the process and take them in order.

#HomeBuying #PreApproval #FirstTimeHomeBuyer #MortgageTips #TrustTheProcess

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I love a good financial app and I found one last week. Most people make their biggest money decisions on gut feel.

What does an extra $500 a month do to your future? How fast does compounding actually work? When could you realistically retire?

You don’t have to guess. I use an app called Henry Wallet. You can track and run numbers for compound growth, savings scenarios, FIRE planning etc and it runs the numbers in seconds.

#FinancialPlanning #MoneyTips #FIREMovement #PersonalFinance #HenryWallet

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Your goals should drive the homebuying conversation.

Buying now might make sense. Waiting might make more sense.

If a lender jumps right into quoting an interest rate or selling you on a loan program, they are simply providing a service. My aim is to provide advice and guidance so you can make the decision that is best for you. So before talking about a loan, I want to understand your goals, your family and what fits your finances right now.

Let’s start there.

#HomeBuying #MortgageTips #HomeBuyingTips

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A price reduction isn’t the only option when a listing is sitting.

Realtors, before lowering the price, talk with your lender about a seller-funded rate buydown. It may help address the buyer’s monthly payment instead.

Compare the seller’s cost and the buyer’s payment under both options. The numbers should drive the decision.

#ConejoValley #RealEstateTips #MortgageTips #WestlakeVillage #FarwellFinance

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You never know what one hour of your time can mean to someone.

Hearing this almost 7 years later means more than he knows. Make time. Pour into people. That’s the impact that lasts.

#Leadership #Mentorship #HumanConnection #TeamCulture #MortgageLife

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Feeling like your feed is getting heavy? Try giving it something else to work with.

I searched for coffee, Scotland, travel and a few golf courses I love. Now I’m seeing more of that in my feed. Small change, but it’s made scrolling a little better.

Try searching for a few things you actually enjoy. What’s on your list?

Brian Farwell | CrossCountry Mortgage | NMLS #1406196
#MindsetShift #SocialMediaTips #GolfLife #TravelIdeas FarwellFinance

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In my world we often talk about “Lender Lingo.” Terms, phrases and abbreviations that we use internally with our team but many clients understandably may not know what it all means.

Here are a few of the big terms we use and how they impact your loan.

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