AAR23 - How to Get the Best Deal on a House
The Investing for Beginners Podcast - Your Path to Financial Freedom
Mortgage Math: Rate Impact and PMI Tradeoffs
Evan breaks down how lower rates plus small PMI dramatically reduced monthly costs versus market rates.
You can find Evan’s home buying calculator at einvestingforbeginners.com/home.
In this episode, Evan Raidt is joined by Andrew Sather to answer a listener’s question about how Evan was able to secure a 4% mortgage rate in today’s market.
They break down the process of finding below-market rates, discuss the pros and cons of new builds versus resale homes, and share personal experiences and tips for anyone considering buying a home.
They cover the details of FHA loans, builder incentives, the value of a good realtor, and why some traditional home buying advice may be outdated.
The conversation is packed with practical advice and actionable insights for anyone navigating the current real estate landscape.
Topics Covered:
- How Evan got a 4% mortgage rate in a 6–7% market
- What is a “Red Tag Event” and how to find builder deals
- The difference between FHA and conventional loans
- Pros and cons of new builds vs. resale homes
- Fixed vs. variable interest rates explained
- The true upfront and ongoing costs of homeownership
- The impact of private equity on affordability
- Why a good realtor is worth their weight in gold
- Navigating dual-party realtors and buyer representation
- Outdated home buying myths and modern realities
- Using calculators and tools to make smart decisions
Resources Mentioned:
Timestamps:
00:00 Introduction and Listener Question
02:12 How Evan Got a 4% Mortgage Rate
04:10 What is a Red Tag Event?
06:44 Builder Incentives and Lower Rates
08:40 Fixed vs. Variable Interest Rates
11:00 Why Choose a New Build Over a Resale Home?
14:00 The Real Costs of Remodeling and Maintenance
17:05 Comparing Price Per Square Foot: New vs. Resale
19:30 Location, Timing, and Market Surprises
21:24 How Market Timing Helped Evan Get a Deal
23:10 The Impact of Private Equity on Home Affordability
24:06 Using the Home Buying Calculator
25:41 The True Upfront Costs of Buying a Home
27:06 Why Upkeep and Repairs Matter
28:55 The Value of a Good Realtor
31:00 How to Find Builder Deals Like Red Tag Events
33:56 Navigating Dual-Party Realtors
35:42 Why Not Everything Is About Money
37:01 Final Thoughts and Recap of Listener Question
39:04 Resources and How to Reach Out
40:09 Outro
Have questions or want your story featured? Email Evan at evan@einvestingforbeginners.com or comment below. Your feedback shapes the show!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate—we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download the Plynk app today to start building your investing confidence.
Go to SHOPIFY.COM/beginners to start selling with Shopify today.
This message is sponsored by Greenlight. Don’t wait to teach your kids real-world money skills, start your risk-free Greenlight trial today at greenlight.com/investing.
Have questions? Send them to Evan at evan@einvestingforbeginners.com
If you’d like to discuss sponsorship or advertising opportunities, shoot us an email at equity@einvestingforbeginners.com.
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