Tulsa Mortgage : Podcast 58
Steve Currington: This is stevecurrington.com and the Steve N’ Tyler Show, Episode number 58.
Commercial: Welcome to the Steve N’ Tyler Show your Tulsa mortgage lender, with stevecurrington.com and Tyler Whyburn
Steve: Who negotiated the contract for you?
Tyler Whyburn: A realtor.
Steve: You’re pretty smart, good for you man.
Commercial: They’re talking about everything you need to know about mortgages, home loans and more. Nobody knows mortgages like these two. Get ready, because here’s Steve and Tyler.
Steve: Yo, yo, yo, yo should I always try to put down as much money as I can?
Steve: That’s our robotic topic for today. It is just going to depend what is important to you as to whether or not you want to put more money down or less money down. We’re going to talk about down payment today.
We’ve talked about this before, that’s okay, you probably need to hear it. And should I always try to put as much down as I can on my Tulsa mortgage, Tyler? Should I always try to do that?
Tyler: Just depends.
Steve: Hold on, that’s the wrong one.
Steve: Tyler, in America we put big down payments down on our houses. No, you can put as much or as little as you want, it just depends on the program that you want to do.
Steve: You can put as much or as little as you want down, it just depends on the program.
Steve: I repeat.
Steve: What if we made an entire podcast — for those out there in podcast world listening, if we made an entire podcast that was just-
Steve: -and we just repeat ourselves over and over. Kind of feels like we do that anyway. Over and over talking about Tulsa mortgage.
Tyler: Like Pete and repeat were sitting on a fence, Pete fell off, who was left?
Tyler: Pete and repeat were sitting on a-
Steve: Oh no, he’s tricked me. You’ve gone and done it Tyler. You’ve gone and done it. So, let’s try this.
Steve: No, I can’t find my beautiful sound.
Steve: How can you not wake up to that and just make you in a good mood. We’re talking about down payment. How much money do I need to put down? If you have 200,000 in the bank and you’re buying a $400,000 house. Should you put $200,000 down Tyler?
Steve: How can you not get excited about Prince the revolution?
Steve: [laughs] You got to get excited about this. Listen, if you got a bunch of money down
Steve: That’s a knee slapper. What do you mean you need it back? I love it. That’s so fun. Anyway, here’s my advice. Leave money in the bank if you can.
If you have $200,000 down, don’t put $200,000 down. You know what I mean that’s all you got.
If you’ve got $200,000 maybe put $100,000 down. Because guess what that does [pause] Tyler?
Tyler: Leaves money in the bank.
Steve: How much?
Steve: You know what’s great about having cash?
Tyler: Having it.
Steve: Yes. That’s right what’s great about having cash is having cash. Nate knows what that’s all about, don’t you Nate?
Today, we are actually testing out some video recording of our podcast so, stay tuned. I don’t know maybe — we’re going live on Facebook, but maybe we’ll have some crazy Tulsa mortgage videos and you can see what our craziness looks like. By the way every episode, Tyler wears that tie on his head.
If you’re looking on iTunes and you can see the picture of me holding Tyler’s tie and looking at him like he’s crazy, he wears that tie every day.
He wears it to work on his head, and I’m like “Dude, this does not look professional,” so I don’t let him see customers when he’s wearing his tie on his head.
Tyler: It’s because I’m the Tulsa mortgage ninja. That’s what I’m going for.
Steve: Tyler’s the Tulsa mortgage ninja. Ladies and gentlemen, I bring you Tyler Wiberg the Tulsa mortgage ninja. He wears a tie on his head, not because he’s ridiculous, but because he’s a ninja with mortgages, with your Tulsa mortgage. So don’t trip, call Ty, tylerwiberg.com. Sweet home.
What do you think about that Tyler? I think we could podcast and we could totally just do our own band.
Steve: Is this thing on? [laughs]
Steve: Anyway we’re talking about, should I always try to put as much down payment as I can? The answer to that is it’s up to you everybody is different. I don’t judge, put as much money as you want down.
Listen, the reason I say if you have $200,000 put $100,000 down is because you’re probably different than every other customer that I do business with.
A lot of times, people put a bunch of money down and then they call me, right Tyler?
Steve: Like six months later and here’s what the call goes like.”Ring, Ring” or you ring, ring me. “This is Steve.”
Tyler: Hey man.
Steve: Hey, Tyler what’s up?
Tyler: You know all that money I put down on my house?
Steve: Yes, what’s up dude?
Tyler: I kind of need it back.
Steve: [laughs] Hold up. And then I play this sound.
Steve: That’s a knee slapper. What do you mean you need it back?
Tyler: I need some money to invest and some stuff, but I used it all when I put it down on my house.
Steve: That sucks man. Here’s the deal. You can do a cash out refinance up to 80% of the value of your house.
Tyler: Sweet, I just want my money back.
Tyler: But I got to do another loan to do it.
Steve: Yes, You got to do a refile. Do you still have that same job?
Tyler: Yes, maybe.
Steve: You making the same amount of money?
Steve: You have the same job and making the same amount of money?
Tyler: Well I kind of got promoted, but now I’m just commission only.
Steve: -no! And that just happened like 3 months ago.
Steve: Come listen to this.
Commercial: Snoop a loop! Snoop a loop. Snoop, snoop, snoop. Bring your green hat, let’s go. Come on everybody, we’re gone, we’re gone.
Steve: I don’t even know what the relevance is.
Tyler: None, none whatsoever actually.
Commercial: Put the music back on. Let’s get the party back record-
Steve: Here’s the deal. You’re on commission.
Steve: Oh cool.
Tyler: That kind of just happened like 3 months ago.
Steve: When? Oh 3 months ago.
Tyler: So can I get that money?
Commercial: I was checking the specs on the end line for the rotary [inaudible 00:07:21]. I’m retarded.
Steve: You’re not going to get a loan. Not from me anyway. You can get a heloc, maybe if you can prove your income.
Tyler: Maybe, yes.
Steve: But you probably can’t prove your income because you’ve only been doing it for 3 months.
So it’s probably not going to happen bro. I don’t know what this sound effect is-
Commercial: Welcome to Against the-
Steve: That’s not it.
Tyler: What you’re saying is I shouldn’t have all that my money down in the first place.
Tyler: I probably should have held onto it?
Steve: Yes. Hey, listen, I already told you that when you did the loan. Remember, I said “Hey, Tyler you have $100,000 to put down, do you have anymore money in the bank?” You’re like “Well the $101,218.12” and I’m like “Well that’s going to leave you $1,018.12, so put $100,000 if you want, but that only leaves you 1,000 bucks you know.”
I have an idea. I just thought of something. Sell your house.
Steve: I’ll be here all day folks.
Tyler: But then, now that I’ve been on commission for only 3 months, you going to do my next loan?
Steve: No, can’t buy that.
Tyler: Can’t buy one after I sell it?
Steve: No, you can’t get another loan, you cannot get another loan sorry.
Tyler: So, basically if you have a lot of money, maybe you should hang onto it.
Tyler: It’s your loan to do what you want to do with. You want to put $100,000 down. That’s up to you.
Steve: Look, I’ve talked about this topic so many times that I’ve literally become bored with it, and all I want to do is for the entire podcast, is I just want to play random sounds. Because really, I’ve just like, hey, I’m going to play random sounds for one reason and one reason only.
Here’s the reason Tyler. Because it happens everyday. And I’m like “Gosh man” it’s like somebody said last night “Stop beating a dead horse.” I feel like we beat the dead horse on this deal. Really, here’s the deal, put as much money as you want down.
Do anything you want, no one’s going to judge you. I don’t really care. I’m just trying to save you some pain. So I tell people, “Hey, you want to make giant cash deposits in your bank account? Make giant bank deposits into your bank account. Do whatever you want. You’re an adult.”
“We did a closing the other day, we want to go buy this car. Our refile funds is on Friday can we just go do it Wednesday is that a–.”
I said “You’re an adult, do what you want to do.” It might cause you pain. I’m not going to lie. Like “There’s something new.”
Steve: It might cause you pain in getting your Tulsa mortgage.
Steve: Duh, drop that bomb on him of course it will. But go do what you want to do, you’re an adult. You want to put a bunch of money down, put a bunch of money down, but first visit SteveCurrington.com or just go to GetKoalified.com
All I’m trying to do, is like I kind of do this for a living so I’m just trying to say, “If you want advice from someone who does this everyday who you know, ‘I swear I want to pay $8,000 in discount points because I’m going to live in this house forever.'”
And I’m like “Well okay, but it doesn’t pay for itself until your number 12.” “Ah, we’re going to live here forever.” Okay and then in three years you’re calling me because you’re buying another house. I just know some stuff. I’ve talked to you before, a different version of you, like a different person and they’ve done the same thing.
I’m just saying talk to a lender whose not afraid to tell you “Hey, big shot I love that you have a bunch of money down, I love it that you have this, I love you have this, but think about these options.”
I don’t care. It’s easier for me sometimes on a loan, if you’re putting a bunch of money down on your Tulsa mortgage. Right Tyler?
Steve: It can just be easier. But I’m trying to put you into a loan that you’re going to be happy within six months. Do you ever make a decision in January and then in August you’re wondering why you made that decision? Does that ever happen to you?
Tyler: Yes, it happens.
Steve: It happens everyday in the worlds of business, and here is how it goes. “Honey, I think we need to put 250,000 down on this house” and then eight months later you’re like “Steve, why the hell did you let me put $250,000 down on this house?””Well, that’s what you wanted to do man. Sorry you know what am I supposed to do?”
Because we don’t remember why we made that decision eight months ago. I’m trying to let you go through all the options so you can determine if that decision that you made 12 months ago or eight months ago, or six months ago was the right one.
You want to make sure that you go 12 months down the road and know that you made the right decision. That’s all that it comes down to. Whether you’re putting 100,000 down on your Tulsa mortgage or 5,000 down or 2,000 or zero or whatever, it really doesn’t matter to me.
I don’t judge, I don’t care. It’s just do one that you can in six months-
Steve: Oops, I hit the wrong button. In six months you can literally– It’s not going to sound like this.
Commercial: Please Billy, no gibberish tonight. Please I beg you.
Steve: [laughs] It’s a Billy Madison gibberish. You’re going to think why did I make that decision eight months ago, or 12 months ago, and it’s because you didn’t go through all your options.
I’m just saying, before you act like a crazy person and speak gibberish, look at all your options and we’ll make sure that you make a good decision when it comes to your loan. Know what I’m saying Tyler?
Steve: And then we can do this.
Steve: This is my favorite song to play in a podcast. Did I play it in the last one?
Tyler: You played it in all of them, recently.
Steve: We’re going to play this song in every podcast, because it’s a home sweet home that you’re going to get, when you get your loan from a Tulsa mortgage lender like stevecurrington.com. That’s right. Just make sure that you’re going through all the options.
Make sure that you’re talking to your lender. Make sure that you’re talking to your wife, that you’re talking to your financial adviser if you’ve got one, and just make the right decision when it comes to your down payment, and we’ll help you get in the right loan program.
But I can’t decide your finances for you. You’re going to have to decide, with some advice from some people. Look, I’m stevecurrington.com. Thanks for listening to our podcast. Go to getqualified.com, we don’t do gimmicks, we’re just about getting you qualified for your home loan.
Check us out on Facebook. Go to tylerwiberg.com, stevecurrington.com, all the dot coms, weare.com and a podcast at stevecurrington.com, you can get all us, or find us on iTunes, and that’s all we got for this episode. Have a good one, see you guys.