#26. Understanding Mortgages, Credit & Real Estate Investment (with Gary Tice)

In this episode of Drip Trickle Flow Flood, we’re joined by veteran loan officer Gary Tice from Edge Home Finance. With over 25 years of experience in the mortgage industry, Gary brings a calm approach and deep expertise to a topic that often feels overwhelming—home buying. From improving your credit to navigating loans as a self-employed professional to demystifying investment property financing, this is a must-listen for anyone thinking about buying, refinancing, or investing in real estate.

Key Takeaways:

• Credit utilization matters more than most people realize. Keep credit card usage below 30% of your limit at statement time to boost your credit score, and ultimately, your loan options.
• Self-employed? There are still plenty of mortgage options. If tax write-offs hurt your qualifying income, alternative documentation loans like bank statement or P&L loans can help.
• Have at least four “trade lines.” A strong mortgage application often includes multiple forms of credit—think car loans and credit cards—not just one or two.
• Don’t box yourself in with a 15-year mortgage. Gary suggests opting for a 30-year term and making extra payments instead. It gives you flexibility if life throws a curveball.
• Bridge loans are a game-changer. If you need equity from your current home to buy your next, a bridge loan can give you up to 12 months with no payment on your old home.
• The Fed doesn’t control mortgage rates directly. Mortgage rates are tied to the global bond market, and recent trends show rates improving, making now a smart time to explore refinancing or buying.

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The information provided in this podcast is for informational and entertainment purposes only and should not be considered financial, investment, tax, or legal advice. The opinions expressed by the hosts and guests are solely their own and do not reflect the views of any companies or organizations they may be affiliated with.

Listeners should conduct their own research and consult with a qualified financial professional before making any investment or financial decisions. While we strive for accuracy, we do not guarantee that the information presented is complete, current, or applicable to your specific situation. Investing involves risk, including potential loss of principal.

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