Transcription Tulsa Mortgage
Steve Currington: This is stevecurrington.com and the Steve N’ Tyler Show, episode number 60. We are episode number 60.
Narrator: Welcome to the Steve N’ Tyler Show, with stevecurrington.com and Tyler Whyburn your Tulsa mortgage lenders.
Steve: Who negotiated the contract for you?
Tyler: A realtor.
Steve: That was pretty smart. Good for you.
Narrator: 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: Tyler, I’m going live on Facebook this morning, for the only purpose of showing people what a real podcast looks like. Oh snap. What do you think about them apples? Hey, it’s stevecurrington.com. I’m here with Tyler Weiber. It is a toasty, nice Wednesday morning in Tulsa, Oklahoma. We are your Tulsa mortgage lender, and we are, like I said, we’re live on Facebook. I need to get the camera away from my nose there, I guess it’s a little close. Hey, Tyler. What are we talking about today?
Tyler: We’re talking about ‘Why are payments higher on a 15-year loan versus a 30-year loan?’
Steve: Right. We talked about it in previous Podcasts, about the difference between a 30 and a 15 Tulsa mortgage, and some people might think that — I don’t really understand that question. For consumers, maybe this is a — hold on, I got to get my — say hello to Tyler. Everybody on Facebook, we are live on Facebook in the Tri15 Studios, doing a Podcast. I’m going to step away real quick for the Facebook listeners, Tyler, and you tell everybody why payment’s lower, because it’s really — why it’s higher.
Steve: Totally easy Tulsa mortgage
Tyler: It’s definitely higher, because you’re making payments over a shorter term, so they’re going to be higher.
Steve: That was epic.
Tyler: Yes. You buy a $100,000 house, you pay over 30 years, payments are going to be lower, divided by 30. Payments over 15 obviously are going to be even higher.
Steve: If you divide my payments over a 15-year term versus 30, then that means that my payment’s higher?
Steven: Wow. That is amazing. I never would have thought that. I’m kind of making fun, but I think this is a — I cannot get my camera situated for Facebook, but that’s a real question I think, that people probably have. It’s like, “Why is my payment going to be higher?” Well, it’s over a shorter term. It’s that easy. When you’re deciding what term you’re going to do, you’ve got to consider that. You got to consider the fact that, “Maybe I want to pay less interest, maybe I want a lower interest rate when it’s all said and done, but can I deal with the higher payment?” Because that’s what you’re going to have to deal with.
Steve: We’re just breaking it down for you. That’s right.
Steve: Lisa Marie Jokerst on the Facebook saying, “Yo, mic check. Check one, check two”. Now I got a table for my Facebook live. Thank you very much, Nate. Boom.
Tyler: Saved the day.
Steve: A little point fall off and then you watch. Look at that. The thing just won’t straighten forward.
Okay. Hi, people on Facebook. This is a pretty easy podcast for me and Tyler to cover. I can’t really talk for 15-20 minutes on why payments are higher on a 15-year or 30, but go to a mortgage calculator, play with the numbers, leave the rate the same. Really. Just leave the rate the same. Base it on a three and a half per cent rate per on a 30-year, and a three and a half per cent rate on a 15. Then, you have to decide for yourself, if you can afford that payment on a 15-year. Right, Tyler?
Steve: If you can, then do it.
Tyler: I don’t know. Since we can’t spend forever talking about this, maybe it’s a good chance to plug the fact that there’s still a lot of people out there with interest rates pretty high.
Steve: Yes. If you have a 30-year, 20-year, or whatever, and you think it’s been time to refinance, then it’s time to refinance. This Podcast, this Tulsa mortgage Podcast will be forever memorialized. We won’t tell you the date today, but rates are low. They’ve been low for so long. When I’m a grandpa, I’m going to be talking about, “We kept thinking rates were going to go up, but they never did”. They’ve been low since Tyler’s been in the business. They’ve been low since Tyler’s been in diapers.
Tyler: Sure, Tulsa mortgage.
Steve: They really have. Tyler was born in the 80’s. I guess they were higher then.
Tyler: Yes. They were a little higher then.
Steve: Tyler was born in the 80’s, people. Did you see that? Here’s the deal. If you’re looking at terms, it’s super easy for you to figure that out. Like I said, go to Google, look up mortgage calculator, put in 30, put in 15. I you can afford the payments, I say do it. Maybe you don’t want to buy off the 15. Maybe that’s just not comfortable for you. I’m just saying look at the 20. Look at the 25. Everybody just does what everybody else does. They just do a 30-year. Right? It’s just because that’s what people do.
Steve: This is a new sound. When you’re looking at a term, Tyler [laughter]. I can’t get into that.
Tyler: Why are you playing all the scary sounds Tulsa mortgage?
Steve: I don’t know. I’ll tell you why I’m playing scary sounds, Tyler. Because it’s freaking scary to think that everybody just does a 30-year mortgage. Why? Why? Why do that? No. I’m playing serious, scary sounds because my beautiful wife Sally, every night, we go to bed, she watches the show called Grimm. Have you seen Grimm? Anybody seen Grimm? I’m sitting there, I’m trying to listen to my book, and about every 15 minutes there’s somebody slaughtering someone, and they’re like, I don’t know what they are, but I’m like, “Turn that down” and it’s just gets loud and crazy. I go to bed every night to scary things. Then I come do Podcasts, and you wonder why I’m playing scary sounds.
Anyway, listen. Here’s the deal. When you’re picking a term, go over all those options with your lender, and just make sure that whatever one that you’re picking is the right one for you. Here’s the thing. If you do a 30-year, Tyler, instead of a 15 or instead of a 20, you can just change it. We don’t mind. Just call us. You can just change it, if you’re on Facebook and you did a 30-year, even with us, just change it to a 15. It’d be great. We’ll get a refinance at the out of the deal.
Steve: I don’t mind. I’ll do another loan for you. It doesn’t matter. We’ll make money again. It would be great. Do a 30 first, then call me and we’ll reduce your term down to a 15. That’d be perfect. What do you think? Or don’t do that, and just pick the term that you want now, and make sure that you’re picking the right term that you need. That’s pretty simple math, if you ask me.
Steve: What you don’t want to do is don’t commit to a payment in a term that you can’t afford. Regardless of what that ration requirements are, if you’re not comfortable with it, I’ll tell you — Remember I told you yesterday, with Clay Clarke? I’m going to use some Clay Clarke wisdom, in the Clay Clarke Studios at Tri15. Nate’s in there, in the host room running sound for us, but listen. Here’s the deal. What you’re confident in, okay? If you’re confident in being able to make the payment on a 15-year, then do it. If you’re not, then don’t, because you’ll regret it. You’ll regret doing it. Just don’t. You’ve got to have confidence that you can handle it and you can handle the payment. Otherwise, you’ll be calling me to refinance you back into a 30. Which I don’t mind. You can call me. It will happen. I will love you. If you call me every year and do a loan with me, I will love you. Bye, Facebook people.
That’s just too much. You know what we need? We need an intern. We need an intern to come record our Podcasts. That’s what I’m going to do. I’m going to try to find us an intern to Facebook live our Podcasts.
Steve: I wonder if Nate can find us an intern. Nate, we need an intern. We need an intern to Facebook live our Podcasts, because stevecurrington.com can’t run the Podcast and run the video, because when we first started this, we would be live on Facebook on my phone and on Tyler’s phone, but now we got all organized, [laughs] I guess. We got organized.
Listen, we’re Tulsa Mortgage Lender. Your Tulsa mortgage company, totaling the concepts, we’re talking today about why the payments are higher on a 15-year versus a 30, I think that’s pretty simple math. You’re dividing your payments over less time so payments are going to be higher, that’s just is how it goes.
Steve: But more importantly we’re on this kick which we haven’t really ever covered of what term do I do? What term shall I do? Well, that’s up to you. GetKoalifed.com has answers. It’s really a personal choice, no one should really judge you on what term you do. Someone should only judge you on the content of your character [laughs] I guess. Is that what it is? But really, pick the term you want, pick the term that works for you and your family and your finances and don’t worry about what anybody else says. I mean do what you want.
Tyler: Word tulsa mortgage.
Steve: Or like I said, keep picking the wrong term and then keep calling me and I’ll keep taking care of you. I’ll just keep refinancing you. I decided I want a 30 grade, I’ll do a loan for you. I said I want to go to 15, perfect, I’ll do that. I don’t really like the 15, I want to do a 30, awesome, I’d love to refinance you. Three loans a year so.
I’m stevecurrington.com [soundboard laughter] I have an infectious Tulsa mortgage laughter and we are the Steve N’ Tyler show. If you want to apply for a mortgage you go to getkoalified, that’s G-E-T-K-O-A-L-I-F-I-E-D and then our Podcast to get all our episodes if you are finding this somewhere else go to stevecurrington.live or podcast.stevecurrington.com and I’m stevecurrington.com and that’s out Podcast for today. We out. See you. [soundboard laughter]
[00:11:47] [END OF AUDIO]