For instance, many of us approach (or sell) a refinance like this:
If we lower your interest rate by .5 percent (as an example), you’ll save $300 per month going forward - and the cost of the refinance will pay for itself in 2 years.
Of course, that logic looks familiar.
Except there’s one small problem: these mortgage calculators are WRONG!
Incredibly, the equation that most of us are using when we put numbers into a refinance savings calculator is dead wrong.
As you’ll hear and see in this podcast with Casey Fleming, there’s one essential element these refinance calculators miss: amortization.
Sure, they allow you to input how long you’d like to amortize a new loan (like over 30 years), but it didn’t account for how far into the amortization curve your CURRENT mortgage loan is when you refinance.
And as we know, the true cost of your loan is based on principle, interest, and TIME, since the amortization curve is so steeply in favor of interest early in the loan.
This universal shortcoming was brought to my attention by Casey Fleming, a gentleman who’s spent his storied professional career refining the technical aspects of mortgage lending.
Living in California’s Silicon Valley, Casey’s client base was predominately made up of computer engineers, who demand unwavering scrutiny with every number and scenario.
However, even back when most mortgage calculators were on Excel spreadsheets, an engineer pointed out to him that the math was incomplete because it failed to account for one variable: how far along the homeowner currently is in their amortization schedule.
But just because he knew what was missing, it didn’t mean it was easy for Casey to correct the problem, and he spent significant time and energy redrafting the correct mortgage calculations, like a mad professor.
The result is that Casey Fleming most likely has one of the only mortgage refinance calculators that's 100% accurate.
It’s also held up under scrutiny by engineers, computer scientists, and mathematicians ever since. This epiphany led Casey to write The Loan Guide: How to Get the Best Possible Mortgage, an incredibly in-depth manual for any consumer or even mortgage lender.
I don’t expect this information to be popular with the current mortgage lenders and brokers, as we’re all used to the status quo and industry standard of demonstrating why a refinance makes sense and how much it will save the borrower.
But Casey just gives accurate information, not his opinion on sales, and points out that by doing things accurately, you can better serve your clients and earn their trust and business for life.
He offers his revolutionary Refinance Benefit Analysis calculator for free on his website, LoanGuide.com.
On that website, you’ll also find mathematically accurate mortgage calculators based on borrowing money to do long-term home improvements, what's the ROI if you're investing your mortgage savings at a certain interest rate, making extra payments to impact the total loan cost, and more.
Whether you’re an experienced mortgage broker or loan officer; Realtor or consumer looking to refinance, you’ll be amazed at the insights Casey Fleming brings us today in this podcast.
Thoughts? Feedback? Hate mail? Send me an email at info@REMnorm.com!
But he felt the calling to spend more time in the Philippines, where his family is from, and fell in love with the Southeast Asian nation of 7,500 islands.
Fast forward a couple of short years and Noel is moving and grooving in Manila, becoming one of the most notable entrepreneurs and branding icons in the country.
So, what's the secret that's allowed him to achieve massive success in not one but two hemispheres? Noel only works on projects that are fun and inspire his passion, and focuses more on helping and connecting others than promoting himself.
The result is that he's got the top networking lounge in Asia and one of the top up-and-coming podcasts, All In.
Enjoy this conversation with Noel about his background in advertising, his journey to the Philippines, his mission to empower others, and why he's actually optimistic about the future!
Give a big thank you and 'salamat' to Noel for sharing his time and check out his podcast!
was one of the best experiences of my life, not only because of the training but the people I met there, including the club's owner, Cary Williams.
I became friends with Cary and over the years, always admired her knack for marketing, self-promotion, and never-ending hustle. Of course, I also respected her because she is a hell of a boxing coach and really knows her stuff!
Since then, Cary has moved to Los Angeles, where she owns The Stables boxing club and does her thing to a bigger audience.
In this podcast, I chat with Cary about boxing but also business, including the challenges of being a female small business owner in a predominantly mens' sport.
Enjoy this fun chat with Cary Williams and to find out more, here is an excerpt from her bio at CaryWilliams.com.
Cary Williams is a former Olympic style boxer, Olympic level boxing coach, boxing club owner, cover model, speaker and entrepreneur.
She has now created Boxing & Barbells which is a class format fusing boxing and weight training together in a fun and easy to learn format.
Cary has contributed to SHEKNOW.COM, EHOW.COM, LIVESTRONG.COM and ADRENALIST.COM and has been a guest on many radio shows and television news shows. Cary has been recognized by The California Legislature along with Brandi Chastain and several other women in sports for her contribution and impact on girl’s sports.
In the boxing world, Cary boxed competitively in the amateurs and won the Pacific Northwest Women’s Tournament before hanging up her gloves. She is a Level IV Boxing Coach and was also selected by USA Boxing to certify trainers as LEVEL I and Level II USA Boxing coaches. She also received a certificate of completing for the Elite Boxing Coach Clinic at the Olympic Training Center. Cary has trained many boxers, some of which have made it to Olympic Trial Qualifying Tournaments.
To get in touch with Cary, follow her on Instagram @caryleewilliams or @thestablessm
On this Zoom beer & chat in late March 2020 (it was nice and warm in Florida for Tim but freezing on my mom's front porch in Connecticut!) we talk about the state of the industry, best practices, dispel some common myths.
We also get Tim's sage advice on what the average Realtor, mortgage lender, or small business owner can do to boost their brand online.
To get in touch with Tim Schmidt, hit him up at TimSchmidt.com.
Through the course of this enlightening 50-minute conversation with John, we explore these questions:
Tune to this podcast with John Coleman - the Mortgage Champion of Ireland!
But Brent saw changes coming and had bigger goals: to build an actual business, not just be as good a his sales, transactions, or even team every year, and eXP allowed him to do that.
He’s spent the last three years pounding the pavement, telling tens of thousands of agents around the country about eXP, all the while maintaining an elite home sales team in Sacramento, California that’s on pace to out-out produce most of the other traditional real estate companies in California this year.
(Yes, you read that right - his own personal team will eclipse the sales of some of the leading firms in their entirety!)
Sure, the titanic commission checks are nice (he showed me one at my urging and I almost choked on my coffee!), but most importantly, Brent is having more fun than ever, helping a whole lot of people, - both homeowners and other agents, and building a business that will provide passive income long after he stops working or chooses to step back.
Which leads me to the question:
Who’s laughing now?!
Enjoy this podcast with Brent Gove of eXp Realty!
However, at least 90% of communication is non-verbal, and our prospects and audience usually like us (or not) and form lasting impressions within seconds after you start speaking.
But Tom’s sage mentoring doesn’t stop at speaking, as he works with people on all forms of messaging and different forms of communication, drawing on his deeper experience as a producer and writer in Hollywood,
Tom does all that and more, with the mission to help people find their authentic voice and realize their superstar potential to connect with people (and make the sale!)
According to his website, TomBresnahan.com, Tom will help you:
Give it a listen to get to know Tom Breshahan and Kelly Resendez, two business communication superstars who can help you become the same!
Today, he discusses the mental health impact of the Coronavirus and stay-at-home orders, including how to deal with anxiety, depression, a lack of social connection, and other mental health issues.
Mike also outlines how we can all practice self-care and be healthier with the MEDS system: Meditation, Exercise, Diet, and Sleep.
But you don't need to be in and out of prison to benefit from Mike's counsel and care, as he's also launching several non-profits to catch those who have slipped through the cracks of our society.
Please remember that you need to be strong right now, both for your clients, your employees, your family, and your community. But that starts with taking good care of yourself, and talking about and nurturing your mental health is STRENGTH - not weakness.
Mike's got some really great insights and strategies to help us all during these tough times, so enjoy the podcast!
Thank you, Mike, and be well, everyone!
And if you're a mortgage lender, the opposite is true: you feel like you're always big-game hunting Realtors, pretending to have a deep, mutually-beneficial relationship (when you really don't), and scrambling to offer any shred of value so you can fill your pipeline with buyers.
Most would argue that the traditional Realtor/Lender relationship is broken, or, at least imbalanced and inefficient. The result is a lot of wasted time and a lot of potential income left on the table.
That is, until now, because this Realtor and mortgage lender, together with their business coach, formed a new system that reinvents the Realtor/Lender relationship.
Tune in to this special video podcast to learn from Brendan Donelson, Josh Anderson, and Dino Rosetti on how you can become the ultimate business partner and 10x your income next year!
To register for their upcoming FREE webinar, go to: www.theultimatebusinesspartners.com
The real estate marketingw/ Norm Podcast!
Connecting, informing, and empowering the real estate, mortgage, and small business community.