Mortgage Expert Reveals Tips for Lowering Your Payment

Ever wondered what actually happens to your mortgage after you sign those closing papers? The answer might surprise you.

Your home loan embarks on a fascinating journey through financial markets that few borrowers ever see or understand. In this eye-opening conversation with Rob Alphin, a 32-year mortgage industry veteran, we pull back the curtain on the hidden mechanics that power America's uniquely affordable mortgage system.

Most homeowners worry about two things: their monthly payment and how much cash they need at closing. But understanding what happens behind the scenes can save you thousands. Rob explains how strategically using seller concessions or builder incentives to "buy down" your interest rate can dramatically reduce your payment. He reveals how increasing or decreasing your rate directly affects closing costs – knowledge that savvy borrowers use to their advantage.

The most misunderstood aspect of mortgages? What happens after closing. Your loan doesn't just get "sold" in the traditional sense – it gets pooled with others, securitized into mortgage-backed securities, and potentially fractioned into thousands of investments worldwide. Meanwhile, only the servicing rights (who collects your payments) change hands. This complex system, backed by government entities like Fannie Mae and Freddie Mac, is why Americans enjoy relatively affordable 30-year fixed mortgages when most other countries don't offer them.

Rob also shares insights on rate locks (and why they exist), how mortgage bankers hedge interest rate risk, why some loans are more valuable than others to investors, and emerging mortgage products that could help buyers overcome today's higher rate environment.

Whether you're a first-time homebuyer or looking to refinance, this conversation will transform how you approach your next mortgage. Connect with professionals who understand these mechanics and can tailor solutions that align with your long-term financial goals.

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.