Mortgage

“So, I prefer to stress test at seven percent, because if the deal itself works at seven percent, the buy down is Total icing on the cake. If it only works at the teaser price, then generally it doesn't work unless that incentive is for the full life of the dea…”

“It didn't make sense that paying your rent on time every month for five years has no bearing on whether you're eligible to get a mortgage payment. That's the best predictor of whether you're gonna pay your mortgage on time.”

“So half our members don't have a mortgage at all on their house.”

“And there are a few interesting use cases, but you know, fast forward two years and the way that you get a mortgage is going to be talking to your AI application.”

“In most of like startup land, when we talk about LTV, we talk about lifetime value and the majority of lifetime value for a consumer Even an eighteen-year-old is going to happen probably 15 years later in the future when they buy a house.”

“When you're applying for mortgage, you talk to people, you send them a lot of documents, and maybe in like two weeks or 45 days sometimes, They come back and tell you the updated information.”

“One of the big benefits of buying a Picasso is you can get a mortgage on just your portion of the home because Picasso created that. Financing instrument.”

“Debt is terrible for happiness, except for mortgages. Because mortgages actually make a little bit more progress in owning your home than rent.”

“Mortgages as an example, I don't think we will ever do it on our own balance sheet, but we already are making mortgages visible to our customers Even if they've not, if it's not a Monzo mortgage, they've taken it from somewhere else in the app, leveraging our …”

“A high street bank Which has disproportionate revenue contribution from mortgages will probably be three, 400. On the retail side.”

“We had a very distinguished mortgage manager come into the office. I think he'd actually written the Wiley book on mortgages and tell us what a great buy mortgages were halfway through the crisis, and I think his fund went down a hundred percent.”

“Well, we're working on it. I want mortgage.”

“Like, our mortgage rate was 3.2% fixed for 30 years, and we paid it off. Which I say is, it's very true, is the worst financial decision we've ever made. But, it's the best money decision we've ever made.”

“We actually got the government, the regulators to work with us to allow your rental payment history To help you qualify for a mortgage and to use points for the first time ever is down payment assistance.”

“Based off of our 7.15% average 30 year fixed rate mortgage and then based off of an average home price of 400,000 dollars, 400,000 dollars, which is the average home price in, in the U.S. Only 20%, 20% of Americans, based off the median income, ah, at differen…”

“The underwriting criteria and the way mortgages were structured were determined then and have yet to evolve since that point in time. So the underwriting criteria, the down payment requirements, most of how the industry functions is almost a hundred years old.”

“Paying off your mortgage is ridiculous, but I actually think it's a wonderful thing for people who can do if you can do it. Just to give yourself that added sense of stability and safety and know that no one can touch your house.”

“Turns out, like, people didn't care that much about UX because it was a once-in-a-lifetime transaction. In fact, they wanted it to take longer. Yeah. And turns out, People get more about, like, a 50 basis points difference, rather than, like, hey, like, I have…”

“Even with a 20% down, a four percent interest mortgage, you would have paid off only close to eight percent of principal in five years.”

“Partially the mortgages in Switzerland tend to be 50 to 70 years, so construction budgets are about double.”

“SoFi is the classic case of this. If they come in, they refinance your student loans, they throw it really easily, and then now they're layering on mortgages.”

“Income-producing real estate on a fully amortizing fixed-rate mortgage. Very important. Do not buy it on garbage loans. It has to be on a fully, because it's just a question of time until you own it. It's a cash flow machine for life, adjust for inflation.”