From simple to surprising to deeply personal. Learn all about mortgages from a variety of perspectives.
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In this video:
00:00 Introduction: What is a mortgage, anyway?
00:34 Answer 1: a mortgage is a type of loan
01:10 Closedend vs openend credit
01:21 Does the bank own your home when you have a mortgage?
01:45 Mortgage purposes: purchase or refinance
01:58 Why would you want to refinance?
02:12 Answer 2: a mortgage is quite a large debt ; )
02:39 Answer 3: a mortgage can be a source of anxiety
03:05 How to avoid being “mortgage poor”
03:19 Answer 4: good debt vs bad debt
03:57 Answer 5: engine for wealthcreation
04:30 Using debt to create wealth other people’s money
04:49 Leverage…what is it and how it works
06:03 But leverage brings risk
06:29 Answer 6: a forced savings account
07:03 Be disciplined and invest if you continue to rent
07:25 When you own, you accumulate “equity”
07:38 Answer 7: stabilize your housing
10:07 Answer 8: peace of mind and autonomy
10:47 Answer 9: mortgage = death (what?!)
11:28 Answer 10: a personal answer that’s close to my heart

#financialliteracy #homebuying101 #firsttimehomebuyer

Julee Felsman, SVP of Mortgage Lending NMLS 120831
Guaranteed Rate Inc NMLS 2611 Equal Housing Lender.
www.nmlsconsumeraccess.org
www.rate.com/licensing
www.rate.com/privacy

Branch address: 1300 SE Stark St Ste 111, Portland, OR 97214
State Licenses:AK AK120831, AL 73482, AR 117882, AZ 1002329, CA CADBO120831, CO 100514850, CT LO120831, DC MLO120831, DE MLO 120831, FL LO66603, GA 67474, HI HI120831, IA 34589, ID MLO2080120831, IL 031.0056868, IN 42483, KS LO.0039957, KY MC713848, LA Licensed, MA MLO120831, MD 120831, ME Licensed, MI 120831, MN MNMLO120831, MO MO120831, MS 120831, MT 120831, NC I187748, ND NDMLO120831, NE Licensed, NH Licensed, NJ Licensed, NM Licensed, NV 65660, NY Licensed, OH MLOOH.120831, OK MLO21956, OR Licensed, PA 74700, RI Licensed, SC MLO 120831, SD MLO.09183, TN 203658, TX Licensed, UT 12003187, VA MLO41738VA, VT VT120831, WA MLO120831, WI 120831, WV LO120831, WY 8673

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Guaranteed Rate, Inc. cannot predict where rates will be in the future. By refinancing, you may pay more in costs and interest over the extended term.

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

Content found in these videos is public information. However, all information including text, photographs, etc. is copyrighted and is protected by United States and international copyright laws. These videos may not be used, reproduced, or distributed for commercial purposes without prior written consent from Julee Felsman.