Dollars and Dwellings

What do you know?

November 07, 2023 Regine Etienne Season 1 Episode 1
Dollars and Dwellings
What do you know?
Show Notes Transcript

In this brief episode to lead to the introduction of Dollars & Dwellings, a conversation with my 17 year daughters gives us an understanding of what our kids know about finance and mortgage as they head into adulthood, and it's seriously lacking. 
In my work as licensed mortgage loan officer, I have realized that most of our clients are also lacking knowledge and understanding of the process.
So I am inviting you join me and my guests on every episode from now on to empower you with knowledge and facts about many topics that affects your overall finances.

Welcome to Dollars and Dwellings.



If you have any questions or suggestions for a podcast please feel free to send me an email at REtienne@rhfny.com or on Whatsapp at 516-253-4865

Regine:

Hello, ladies and gentlemen. Good morning. Look at this. Today's my daughter's birthday. She is a whole 17. Say hi, Sarah. Hi. Okay, so let's talk about something, Sarah. Do you know that in two years you can buy a house? Yes. You do? Yes, because my mother taught me all these details. Okay, so let me ask you this. I'm going to ask you questions and then you tell me. What do you know about those? Cause you're 17, cause I'm thinking In this day and age, you should know those things in school. Alright, so Sarah, what is DTI? A DTI? Mm hmm Debt to income ratio, what is that? Oh, How much debt you owe to your income? Not quite. So, you know, it's kind of that, you know, but what is LTV? Loan to Value What is LTV? Loan to Value? No, no. Okay. So, how much, what is FHA? Oh, an FHA is something that involves a house. I know. What is conventional? I don't know if I hear you say it all the time, so. Okay. What is, how much money do you think you should be making to get your own home? You should be making at least a good 60k a year. Okay. Alright, and when you say, do you know anything about what's called, how do you, how do you think rate is determined? Your interest rate. Your interest rate is determined by time. The time you owe something to the client. Okay, how is it decided how much rate they should charge you on a house? Depends on how much you make yearly. Okay, so, ladies and gentlemen, and 17. I am a mortgage loan officer and I do this all the time with people they call and the first thing they say What's my rate? There is a lack of education in Mortgage and this is what I believe I do believe that in anything that you are going into, you need to know the rules, you need to know strategies, you need to know your position and what's your role. I'm hosting a podcast called Dollars and Dwellings. So Dollars and Dwellings is not going to be just about mortgage. It is going to be about everything that involves finance because, you know, knowing is knowledge is truly power. And I'm going, we all go with me and special guests. We are going to give you the tools to get in the game because when you get in the game, And you are at a position where you are starting out, but you don't quite know the rules. You are bound to make mistakes, and mistakes can be costly, and you can lose. I want every single one of you to subscribe to the podcast, so when you get in the game. You will know your position, you will know the rules, you will know what the terms mean and how to get yourself in a way, so you can get to Touchdown. Because Touchdown means home, it means wealth generational wealth, because you must know in order to get there. That's what destination is all about you have to know the way. There may not be just one way, but you have So, once you see the announcement, subscribe to Dollars and Dwellings, and we'll see you there. Cause, she thinks she knows, she thinks she don't know, but we'll tell you what it is. Alright, see y'all, bye.