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- [00:00]
A
Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS and no sales pitches. I'm David Green and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between. This is the show where we pull back the curtain and show it to you, too. So if you want to build wealth through real estate or you just love learning about it, you found your home.
- [00:21]
B
What's going on, everyone?
- [00:22]
A
Welcome to Real Talk Real Estate. This is your favorite Monday show, Mortgage Mondays with David Green and Christian Bashelder, the one, the only and the best show, keeping you up to speed with what's going on in the mortgage industry. And we've got a pretty good show for you today because the Trump administration has been talking a lot about different mortgages, different packages, what they're doing to try to fix the housing industry. In fact, Trump has recently declared that in his opinion, he thinks it's a housing emergency. And one of those solutions is the topic of today's show. As you probably could tell from the title, Portable Mortgages. And I've got Christian Bashelder here, the owner and broker of the one brokerage, to talk about what the heck a portable mortgage is and how to know if it's something that we should run away from in fear or embrace with a warm hug. Christian, happy Monday.
- [01:14]
B
He's well, we're kind of getting back on the train here after Thanksgiving. We all ate too much damn turkey. So this is our first recording after, after the holidays. So glad to be back with y'. All.
- [01:24]
A
If you guys ever meet Christian in person, you need to squeeze the guy's biceps. They are massive. He does not skip arm day and he does not skip turkey day. He is loaded up with protein and is something to see. You guys will often see he and I walking around at different real estate conferences, talking to people, meeting people, seeing what we can do to help, you know, and actually that's a good point to make here. Before we get into today's show, if you're a mortgage professional, we'd love to have you over at the one brokerage. We're growing and we have a lot of really happy people. Christian, just by giving a couple of the statements you've heard people make since they left their other brokerage and came to work with us.
- [01:57]
B
Yeah, it's, we're very systems heavy. So, you know, whether it's helping loan officers in pre approving faster, whether it's making sure loans get done Whether it's access to products or obviously the training that David and I give. We invest a lot in our loan officers. Right. That's. That's kind of a goal of the one brokerage is. Is. I. I usually say this term. It's a. It's what I wish I had earlier in my industry. Right. A lot of training, a lot of guidance, a lot of strong systems at your back that ultimately let loan officers spend more time being loan officers. Right. And gives processors, same thing on the other side of the equation. Gives processors good files, clean files, you know, higher likelihood of closing. Right. And obviously that goes all without saying. All of our access to our loan products is obviously a huge strength as well. We don't just do conventional. All those investors listening to the show. We can help you on your primary as well. A lot of people forget that people think the one brokerage is the investor lender. While that is our strength, for sure, we do standard conventional stuff. We do FHA loans, we do VA loans. Right. So access to. To our product network and everything that we provide is a huge benefit here compared to a lot of lenders out there, for sure.
- [03:09]
A
Yeah. If you're someone who's tired of your loan officer taking too long to get your loan approved, that will not be a problem over here. Christian loves bragging about how fast we got to clear to close. We actually say CTC in industry. That's like everybody's favorite word when they're in a real estate transaction. And because of the really heavy support systems that we have, and frankly, the money that we spend out of our own side to make sure that we have people on salary to do that, we get loans closed really fast and without hiccups. And we also can help people that come in that maybe they're not the most organized. Maybe they don't do the best job in their own business of staying on top of stuff. Maybe they don't do a great job with systems. But you're listening to this. You're a loan officer. You're great with people. You're great with customer service. You're not the guy that knows the technical stuff. For the gal, this would be the perfect place for you to come. And then we also have real estate agents that work with us that we can teach through loans. So if you're somebody who's ever been interested in doing loans and real estate, there's not that many places you can go. There's really not. We're one of the few places you can go to do both. So you should Definitely reach out to us. If you like the show, you can do that by going to my website, davidgreen24.com and using the chat option. Or you can listen all the way to the end and you'll get Christian's contact in info. Getting into today's show, portable mortgages. Let's start off with what that means and what they are.
- [04:27]
B
Yeah. So first and foremost, this is not a product that currently exists. This is. We did a show a couple weeks back about the 50 year mortgage. We started with the same disclaimer that this is something in talks. Now, all of the negatives I said about the 50 year, you guys will hear significantly less about them with the portable mortgage. I love this idea. I think it's a great idea and I hope it actually gets some, some backing behind it. What a portable mortgage is is kind of exactly what the name entails. It means you can take your mortgage with you. So we, we're dealing with a huge symptom of low rates right now in the industry that, you know, we call it the golden handcuffs. Right. That means somebody bought a house in 2019 or bought a house in 2010 and refinanced in 2019. But regardless of how they got there, they're sitting on a sub 4% interest rate. If that borrower were to want to move and upgrade or downgrade, maybe it's an empty nester and their kids are off to college and they don't need five bedrooms anymore. Right. Whatever scenario that would lead to that borrower wanting to move, the odds of them being able to get close to their existing monthly payment is very low. Okay. Obviously that's because they'd be going from a 3% to a 6 or 7% and that's enough to prevent most people from moving. Now, that has multiple symptoms on the economy. Number one is it creates less velocity of money. Right. It's healthy for an economy for people to move because you think of all the people that make money on a real estate transaction. The realtors, the title agents, the loaner officer, the insurance agent, the contractor that does renovations, the furniture shop where you get a new couch. Like real estate is a huge driver of kind of the core of most economies in the world. Right. However, when you have a lot of people with a huge objection to moving, you have a decrease of volume. What that leads to is a offset of supply and demand. So we talk about supply and demand a lot in the show and usually a lot of people are targeting it from the aspect of increased supply because demand's not going anywhere. People want houses, right? Whether it's for investments or primary residences. But a lot of people try to attack the problem here by just saying we need to make more supply, which means we need to build more houses. Right. And there is some truth to that. I would love to see better tax subsidies for builders, a loosening of permitting and restrictions. If any of you guys have tried to build in a, like, a big city recently, it's a nightmare. It's a nightmare, right? Try to go build something in SoCal. Go check out, you know, Pacific Palisades in Malibu that burned down, what, three years ago now, and, like, none of it's rebuilt. It still looks like a war zone. It's, like, terrifying that that's. And that's one of the most valuable markets in the world, and they can't even rebuild there. And that's where all the. The billionaires are at. Right? And that goes a lot. That goes to show that the system is inefficient. So that's one argument, is more building, less restrictions. 100%. I'm on board with that. The other side of the equation is how do we free up the houses that are already built? Right. Number one, the people have to want to sell them, which they do to a degree. They just are reluctant because they don't want the replacement rate. So you guys can imagine if you're sitting in a $500,000 home and you have a 3% interest rate, that $500,000 home, let's say you wanted to upgrade a little bit and buy a $600,000 home, but your interest rate is doubling. The monthly payment difference there is massive and enough to prevent a lot of people from doing it. You might be going from paying a $3,000 a month mortgage to a $6,000 a month mortgage. Right. And not only is that something that people don't want to do, it's a lot. It's something that a lot of people can't do. Enter the portable mortgage. Why this is cool is it allows you to take your mortgage with you. So in my example that I just put out, you're sitting in a $500,000 home, and let's say you have a $400,000 mortgage, you can take that mortgage with you to your new $600,000 property at the same interest rate, at the same remaining amortization, and you can keep your monthly payment stabilized. Now, you still have to make up the difference in the down payment. That's another conversation of, you know, are there going to be programs that package onto this that maybe facilitate, you know, HELOCs and piggyback seconds. If you just have the down payment, obviously you can do that. And there's also a conversation to get into for the tax perspective. Right. Because you are selling a property. Capital gains tax comes into play here on the profits. Right. But if a system can be orchestrated around the, the core concept of enticing people to move and still putting them in a better position without the government having to print money, without having to reduce all of the regulations everywhere, without only favoring the rich, or without just handing out free passes to the poor, like there's a healthy way to get the middle class starting to move again. And I believe the portable mortgage could be a core factor in this, in not punishing somebody for making a good investment in 2020, but now wanting to move. Right. I, I love the idea. I hope it, I hope it holds. We'll see. But it is kind of the thing that it seems like the administration is pivoting to from their initial 50 year mortgages. Right. Thinking that would be the solve of just kicking out your loan longer. Right. I like the idea of portable mortgages much more. I think it solves the core problem which is get people access to being able to move that are locked into these low interest rates now.
- [09:45]
A
One, there's been a couple misconceptions about portable mortgages, maybe not even misconceptions, but Trump hasn't come out and said this is what it would look like. It's sort of a proposal of what could happen. One thing I've heard people talk about, because no one knows what it would be, is it would likely be mortgages moving forward would be portable mortgages. That's very different than somebody who has an existing 3%.
- [10:09]
B
It.
- [10:09]
A
They're not saying that it would just become portable. Can you speak a little bit to how notes work and why you can't retroactively make a mortgage port portable in the future?
- [10:20]
B
Yeah, and there's, there is some power for Fanny Freddy that technically the government and the Fed could, could enact retroactive stuff. But because an investor bought that loan. Right. So imagine it's the same concept of let's say David bought a car, right. And you agreed with the dealership on what to pay for that car. Right. You got the wheels, you got the tires, you got the engine, you got everything. Let's say six years after you bought the car, the dealership says, oh, hey David, it turns out we're changing all the tires on all the cars and you got to Go with this much worse tire. I already own the car. What do you mean? It's my tire. No, well, actually, we're changing the agreement of your commitment. That's the same concept. Like you can't go back and change an investor's investment. Right now for a lot of the loans that are insured and backed by Fannie Mae and Freddie Mac. Is there an argument to be had there that maybe they allow it potentially. But there is an investor that holds that note. And for David to explain what he asked here, the. The note is just a fancy word of saying the mortgage. Right. The note is debt.
- [11:23]
A
Well, the terms of the mortgage, Right?
- [11:25]
B
Correct. Yeah. It's the instrument in which the debt was lent. And that instrument has an owner. A lot of people forget this. When you get a mortgage, you just think you're getting it from a bank. Sure, the bank may start your loan, but the bank very rarely keeps your loan. What that means is they get that loan, they have all the terms, all the agreement. They like the property, they like you as a borrower, they like your credit score, they like your debt to income. They're good giving you a loan. They've determined that you fit their, you know, characteristics that they like to see in a borrower. But they then turn around and say, hey investor, hey BlackRock, hey Vanguard, hey State street, whoever it is, right. We got a couple mortgages. We would like to free up our capital. We just lent a million dollars out to our borrowers. We want to get that money back. We don't want to make the 4 to 5% interest every year, 6 or 7, I guess, nowadays 2 to 3 back in Covid. Right. We don't really care about that interest. But would you like to make that interest over 30 years because you have the capital to expect. And they'll go now. There's actually a scheme of, you know, the secondary market and how they actually get bundled and built into what are called securities. But the just keeping it base level. The bank takes that debt and sells it to an investor that values that interest over 30 years versus the cash in their pocket. Right. Right now. And a black rock or a Vanguard with hundreds of billions, if not trillions of dollars under management, they don't really need the money, right. So they're more happy to take that interest income over 30 years, even if it's 3 or 4%, because they just have a surplus of capital right now. Quantitative easing makes it real hard because then it's the government buying the debt. But without going that far down the rail the, the note is the terms of the agreement that are eventually sold to the investor who likes the terms of those agreements. Right.
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A
And that's why it's so important.
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B
They like the qualifications.
- [13:13]
A
That's why it has to be set in stone.
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B
Correct.
- [13:16]
A
Because the person who gave you the note that you dealt with is not likely going to be the person collecting your payments in the future. That person wants to know, well, under what terms am I collecting it? What was the credit score of this person? What was the debt to income ratio of this person? That's why loan officers have to collect all this detail from you because they have certain standards they have to hit in order to sell that note. And the people buying the note want to know that they're buying what we call good paper. And now a portable mortgage, if I'm understanding you correctly, would be the terms of the note you got on one house would transfer to a different house. Is that a succinct way of saying it?
- [13:57]
B
Yeah. Correct.
- [13:58]
A
And this is important because typically your mortgage is tied to the house that is securing it. So really a portable mortgage is not a novel concept. It's not new. We've had this around for a while. We've called it cross collateralizing. So there are times where you have debt that you owe to a certain institution or person that is secured by a property. And there are actually many circumstances where the lender goes, hey, I'll let you move it from this secured asset to this one over here instead. They're probably going to do an appraisal, they're probably going to look at it, they're going to want to know what it cash flows, they want to know what it's worth and they're going to want it to be sort of like a light kind exchange here, but they will let you move collateral from one property to another. We typically don't think of it this way, but experienced investors that have high net worths, they do this somewhat regularly where they move securitization and it's not always in houses, sometimes it's their business. If you're Tesla, if you're Alphabet, if you're Meta, you can take debt in your business's name and then you can move it to other like sub businesses underneath the umbrella. And lenders will do that too. As long as they have some way of feeling comfortable that if you don't make the payment that you owe them, they can go seize an asset and sell it. They'll move the collateralization. So we're talking about doing the same thing with mortgages, I think a lot of people are assuming this will happen in the past, like they'll be able to hold on to their 3% mortgage, that they sign the mortgage documents for 10 years later when rates are higher. But you can't go back and force the lender who gave you these terms to now say, all right, I'm going to let you bounce this around to different houses because now you're making more work for that lender. They have to go look at your new home and they have to have a person that they pay to make sure that it's of equal or greater value, right?
- [15:49]
B
Yeah, 100%. I mean, there'll definitely be an equity requirement, Right. You can't port a 400k mortgage over to a $300,000 asset. Right. And like I said, if there is a way to work it with, with keeping historical ones, they would just need the investors on board. Right. So I, I think what Trump may be seeing is with his connections, you know, can he agree to have Fannie Mae with underwriting criteria in place, Right. You know, kind of allow this retroactively Now, I don't know. David's making a very good counterpoint that is very difficult to get investors to agree because they're owned by so many different people. Right. But if there's standards set that, you know, equity still has to be there, it has to be a like type transfer. We have to do an appraisal, right. There's still some work to be done there, you know, and maybe you pay a fee, right? You pay a fee to transfer that. So that compensates the lender who has the underwriting, right. That there could be senses that make it worth it. Right. Because they're keeping the same debt. They're making a little bit of like a re origination fee, right. And they're getting that, that borrower out of that property and into a new one. There could also be a requirement that like, hey, this lender has to simultaneously underwrite the purchase for the new, you know, the house that the seller is vacating. There. There's rules that could make it enticing for, for lenders, I don't know how much, how far they're going to go down that realm. You're absolutely right. They may just make it from all loans now onwards, which probably won't help us a whole lot in the mean, in, you know, in the current day, because who's going to want to port their 6 or 7% if rates come down, right? But as we kind of get through the cycles of the markets and there's opportunities where you have a lower rate than what you could get nowadays. This could prevent a similar occurrence happening. Like what's happening today where the threes don't want to get a six, right, instead they can take it with them. So I, I love the perspective. I think it could be a useful tool in like the overall scheme investing and you know, borrowers kind of recycling their real estate. But we'll see. You know, I have no idea how it'll be, how it'll be arranged. I don't know what the guidelines will be. But I think there's a lot of creative approaches here that could eventually be a really, really val. Really valuable benefit to a lot of borrowers out there that are, that are stuck in their golden handcuffs. Right.
- [18:06]
A
I wanted to do today's show and you did too. Largely because I think a lot of casuals, for lack of better phrase, are listening to this thinking, oh, they're going to make a 50 year mortgage and they're gonna make a portable mortgage and it's going to immediately bring stability to the housing market. It's probably not, it's better than doing nothing. It's never bad to have another option unless the option itself is like tempting and not good, like a drug is not a good option to have out there. But in general, if you know what you're doing, options aren't bad. So I'm not against it. I, I am against the thought it's going to fix everything. So that's what we want to kind of clarify here. If you've got a 3% mortgage, you didn't agree to a portable mortgage when you got it. The lender didn't agree to a portable mortgage. That note, like you said earlier, Christian has been sold to other people. They're not going to agree to let you move it to another property because it's probably packaged as a piece of a mortgage backed security and owned by someone that maybe doesn't even understand mortgages that much. It's in your grandma's 401k. Now they're not going to understand what we're talking about here. So the odds of this being retconned and brought like back into to the rules of today, going back to there, don't have your hopes up expecting that it's going to be something moving forward. Now what this could do though is it could give the administration a tool that if portable mortgage become a normal thing and then they bring rates back down to 4%, you now can get a deal Buy a house without the worry that you're stuck with it forever. If you have portable mortgages and they bring rates down, this is now a situation that could really help the housing market because you'll go get that mortgage and then you can hold onto it and you can keep getting new houses. Now there is a particular group of people that will greatly suffer from this. Can you guess who that might be?
- [19:56]
B
People who never buy and people like.
- [19:58]
A
You and me that finance houses. Yeah, we're getting a lot less business.
- [20:03]
B
If you're porting your mortgages. That's absolutely right.
- [20:05]
A
Right. So everybody that gets a 4%, that's basically a client that you're. Unless they get another house for that house, they're not refinancing it, they're not selling it and getting another one, that's taken a lot of business off the table.
- [20:18]
B
So we're sharing this forever mortgage. That's exactly right.
- [20:20]
A
Exactly. And the only time you're ever getting another mortgage is if you get a new house. So it's not, I know. I'm not against it. Even though it would hurt our business. I think it's good to know if they do this the right way, it would hur. But it would still be better for the economy. So we're a fan of it and I would encourage people to get them.
- [20:37]
B
I agree. Yeah. Couldn't. Couldn't have said it better myself.
- [20:40]
A
All right. Any other misconceptions with portable mortgages that you hear people talking about that you think we should set the record straight with?
- [20:47]
B
I mean, I would say it's probably not misconception because they don't exist yet. Right. Outside of private banking and direct banking. You know, like if you're working with your local credit union, they're fine, you know, flip flopping your assets because they hold that note. Right. Remember, for lenders that aren't selling on the, you know, nothing, that's Fannie Mae, Freddie Mac, you know, most DSCR loans aren't, aren't private individuals, you know, but if you're working like directly with your local credit union and they're kind of structuring your portfolio, they can do some creative things for sure. That's one of the benefits of working with local credit unions. You know, you may have already done this. Right. We may have a random listener out there that has said, oh yeah, I ported a mortgage from one to another, but you didn't do it on like a Fannie Mae loan. Right. That's, that's, that's where we're at. Right now. So misconception. I would just say, number one, once again, it is not a thing that's out there yet Right. Across all mortgages, you know. And number two, I still think that even when once it's rolled out, you shouldn't skip the conversation with your lender, like, still talk about it. Right. Can you get a better deal elsewhere? Right. Can we package another product on and see if we can beat the rate? There's still always going to be a conversation that needs to be had because the biggest mistake that I've seen borrowers make is thinking they know the best program for them. We've said this so much on the, on the podcast in the series, David, that don't come to me saying, christian, I absolutely want this loan. Like, okay, we're going to talk about that. But like, once I review your file, like, I may have a better option for you. We have like hundreds of loan products. Right. You probably don't know the best one. Just listening to Mortgage Monday a little bit. Right. It's very possible you end up as a dscr. Yeah, we do them all the time. We do a lot of DSCR lending. But if you qualify conventional, why are we talking about dscr? Right. It's better rate, no prepay. Right. Let's, let's. And all it takes is a quick scanning of your tax returns and your income. Right. So even if these come out, don't just assume I'm gonna port this mortgage. Still have a conversation. Hey, what's available now if I don't put port this mortgage? Right. What's available if I do and make the right decision for you?
- [22:50]
A
Now, I've thought about some of the potential downsides of a portable mortgage. I don't know if you have, have you had any time to think about how this could be like, potentially worse for the borrower?
- [23:01]
B
Bigger down payments.
- [23:02]
A
Yep. There would be basically less risk to the lender because they're taking more risk by doing this.
- [23:07]
B
Yeah. They're taking a smaller loan balance and porting it to what probably will be a higher value property. And the borrower would still have to make up the difference. So in my example, if you had the $500,000 house that you're porting into a $600,000 house, like, you got to come up with that extra 100 grand. Like the loan isn't going to increase unless we talk about increasing portable mortgages and that. That would be wild.
- [23:28]
A
That's probably, you'd probably have to end up with a second. Right. Because if you're at a 4% and current rates are at 7. They're not going to let you add on to your 4% balance.
- [23:37]
B
Correct. You would most likely have to use some form of, we call it a piggyback in the industry. Right. Where you get a first and a second in tandem. Those products will probably become much more popular. But yes, bigger down payments is probably going to be the biggest con. It's the same thing with, you know, assuming like a VA loan. Right. VA and FHA loans are assumable. They're government loans. What a lot of people end up calling us about is hey, I have a million dollar property I'm trying to buy that has a 500k VA loan on it. I want to assume it. My next question is what happens with the other 500k? Do you have that as a down payment? No, I'm a vet, I'm looking for 0% down. Well, you're buying the property for $1 million. There's only 500k on debt on it. We have to account for the other 500k. Right. That would be a challenge for sure. And there would probably need to be an expansion of second position and HELOC products to facilitate a lot of these successfully.
- [24:35]
A
Now I've also thought about when you're originating one of these things, I can't see a scenario where the lender would.
- [24:42]
B
Want.
- [24:45]
A
To have to allow you to switch it to another property. This is a benefit to the borrower. I don't see a scenario where it's also benefit to the lender. And if you're thinking, well, the lender is going to keep collecting their money, any scenario where you keep this loan instead of paying it off is a scenario that benefits you. I mean, the rate's low. The lender, if the rate is below market, you want it, they don't. They want you to pay it off so they can go lend that money at the higher rate. That's market. So in order for them to agree to a portable mortgage, they have to benefit in some way. It's going to be a higher origination cost.
- [25:19]
B
Origination fee.
- [25:20]
A
Yeah. I have to believe that it's probably not going to be an interest rate that's higher because people won't like it. So they're probably going to hit you with the origination fee so you're going to pay more to have the right to move it, which I haven't heard one talking head say. But you and I that are in the business know this is the way the stuff works. Like for instance, a lot of DSCR loans come with prepayment penalties that not everybody realizes. So you get that loan, but then if you sell or if you pay it off early, there's a penalty to you. There would be something. They wouldn't have a prepayment penalty, obviously with these, but there would be likely an origination fee. How should borrowers pay attention to making sure they understand what that is in case their loan officers aren't telling them?
- [26:02]
B
Yeah, I mean, number one, I'd ask what's the cost of this? I mean, they would have to quote you the cost of the service, assuming this falls under all the Fair Lending act guidelines. You know, it has to be properly disclosed to you. Right. And you know, you just do your math, right. I can go get a 7% interest rate right now or in the event I can port my 3%, but I got to pay a $5,000 origination fee or a $10,000 origination. Is that worth it? Right. A loan officer could help you run the cost analysis between them too. Right. They can help you determine how, how long you'd have to save that interest rate to recoup your $10,000 origination. Right. But they're absolutely, will have to be a benefit to lenders. You know, there'd absolutely have to be probably a fee charge for sure. You know, and like David said, I mean, if any of you guys have ever tried to assume a VA mortgage, it's like a nightmare because the assuming lender doesn't make any money. They, they don't. They take like 90 to 180 days to close. Like they're not fun. Right. If anybody here is listening that has assumed a VA mortgage in 30 days, I would, I would bet, I would wager that if you post it down in the, in the forums, the closing dates are probably going to line up to what I'm saying. You probably didn't assume it in 30 days. Right. Unless you just had a really motivated, you know, loan originator that just wanted to help. Right. Because the bank doesn't profit on them. Right. And that's something that a lot of banks are kind of sour about is, you know, I don't want to do this. Right. It doesn't make me any money. It's a waste of time. So, you know, I, I think definitely could be some cons thrown in depending on how expensive these are and the banks will kind of set the market for them. But I do think they have a lot of positive aspects though. I think they, they could help if rolled out in a, in A proper fashion, right?
- [27:45]
A
Yep. There you go. There is no. Well there's, there was a saying we had. There's no such thing as a free lunch. It was like tan stuffle or something. So it always comes with something. So when you hear about a benefit to you, it's wise to ask what's it going to cost? Doesn't mean don't do it. It's good to know both sides. So we had all this talk of a 50 year mortgage. I haven't heard anything in the news recently, have you?
- [28:05]
B
No, I think it died. I don't think it's feasible in the same way we picked it apart. If you guys are curious. That was our previous one or two mortgage Mondays ago. We kind of picked it apart where it, I don't think it feasibly can make sense unless the government subsidizes it, which I don't think we should do. I don't think the government should print a bunch of money, print hundreds of billions of dollars to provide a 50 year mortgage. I don't think there's a big enough benefit. So yeah, I, I, I have not heard anything and I do not anticipate hearing anything more. David. I think, I think that deal is probably dead in the water.
- [28:38]
A
Portable mortgages could be the next one to die. We don't know. We'll have to see how it goes. I think if you got a mortgage that originated 8% and it's portable, probably isn't a whole lot of value in that. Probably no reason to pay the extra money to get that. But if they figure out a way to bring these in and bring in lower interest rates, that could get a lot of people to buy houses that might not have bought previously or buy a house that's not their dream home. But it's better than what I have now home because you can always keep upgrading from there. Taking the mortgage with you. Good stuff man. I appreciate it. If people want to reach out, talk to you about getting a loan, talk to you about possibly working with the one brokerage or just see what we could do to help them make more wealth through real estate. Where can they go?
- [29:16]
B
Yeah, two best ways. You can find more about our company@the1brokerage.com. That's our website. Little red button apply now up in the corner. Fun news. We're actually reworking our website. It's going to be fresh branded, kind of cooler, looking more, more, more modern here in the next couple weeks. So keep a lookout for that. As of now, you gotta, you gotta deal with the old one for a couple more weeks. If you guys ever want to catch me directly, best way on Instagram at the one broker underscores between so the underscore one underscore broker. You can just shoot me a dm. We can talk about your scenario or if you just have questions on the on the podcast, be more than happy to ask them. And ultimately you can leave a comment below. Believe it or not, me and David do read the YouTube comments and we try to work them into future episodes. So if you have a comment, you're just dying and you wish we talked about it, drop it in the comments, we review them and maybe we'll. We'll feature it on an upcoming episode.
- [30:06]
A
There you have it, folks. You can find me on Facebook @David Green24 Go give me a follow over there or Instagram David Green24. You can also DM me on either of those platforms. And then you could go to my website, davidgreen24.com and use the chat feature. Get a hold of me directly. I get lots of people all the time when they listen to these that message me and they say, holy cow, is this really David Green? It sure is. That's the easiest way to get a hold of me and I'll get you connected myself with any of the people we have. Sometimes when people reach out via our website, it goes into spam, or when we reply it goes into their spam. Or sometimes they call the phone number and we have reception issues and it doesn't ring. So your best bet is always reach out to me and I'll put you in touch with somebody directly. Unless you're shy. Thanks everybody for listening to Mortgage Monday. We appreciate you. Make sure you check out the other shows that come out on the channel. Make sure you subscribe if you haven't done so already, and we'll see you next week on Mortgage Monday.