Podcast Episode 27: What Buyers Need to Know About Mortgages with Tom Cramer

by Financial Design Studio, Inc. / October 2, 2023

High interest rates and low housing supply put homebuyers at a disadvantage. In this episode, Tom Cramer, a mortgage officer from Wintrust, explains the different options homebuyers have whether they are looking for their first home or a second.

Michelle Smalenberger, CFP®; Robert Stoll, CFP® and CFA; Tom Cramer, Mortgage Officer

Behind the Designs Ep. 27 : What Buyers Need to Know About Mortgages with Tom Cramer

Take a listen right here, or head over to your favorite steaming platform!

Key Moments

2:01 Meet Tom!

7:34 What is the current environment of mortgage rates?

14:05 What is a loan officer looking for?

15:41 What do you need to know about pulling credit?

24:04 What self employed and business owners need to know?

27:20 What do home builders need to know?

34:14 How can you improve your debt to income ratio?

38:36 What should you look for in your mortgage?

42:35 What is the IHDA program?

Links for Homebuyers and Mortgages

Read more about how Federal Student Loan Repayments are Resuming

Check out the Illinois Housing Development Authority (IHDA)

Find an estimate of your credit here at freecreditreport.com

Read more from Tom about How to Buy a Home and the IHDA Program

Stay Connected!

If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about certain topics. We’ll see you in the next episode.