Cliff Taylor - Intercap Lending

Mid year is the perfect time to pause and take a look at your financial picture.

I like to walk clients through a simple review:

Current mortgage payment and rate
Property taxes and insurance
Debt and monthly obligations
Savings and equity position

From there, we can see if any adjustments make sense.

Maybe it is a refinance. Maybe a HELOC. Maybe everything is already in a great place.

At the very least, you walk away knowing exactly where you stand and that your current setup still aligns with your goals.

Renting vs owning is one of those conversations that is rarely as simple as people want it to be.

I have clients on both sides of this decision and the right answer is always tied to their goals.

Renting offers flexibility and lower upfront commitment.

Owning offers a different set of advantages:

More control over your living situation
The ability to build equity over time
Exposure to long term appreciation

What I focus on is helping clients understand the tradeoffs and how each path aligns with their financial strategy.

In many cases, it is less about what is right in general and more about what is right for that specific moment.

Homeownership has historically been a key driver of long term wealth for many households. Source: FHFA House Price Index 2025.

Not every drop in rates means it is time to refinance.

What I look at is your strike rate.

Your strike rate is the interest rate where refinancing actually makes financial sense for you.

Historically, many people used a 1% difference as a guideline. For example, if your current rate is 7.5%, a strike rate might be around 6.5%.

In today’s market, that gap is often smaller. Sometimes a 0.5% to 0.75% difference can be enough depending on the loan structure and goals.

The key is not just the rate. It is the overall impact on your payment, costs, and timeline.

Refinancing can be a great move, but only if it makes sense for your timeline.

The key concept is break even.

Break even is the point where your monthly savings outweigh the cost of the refinance.

Here is how it works:

Take your total closing costs
Divide by your monthly savings
That gives you the number of months to break even

If you plan to stay in the home longer than that timeframe, the refinance may make sense.

If not, it could actually cost you money.

Understanding this number is one of the most important parts of making a smart refinance decision.

Private Mortgage Insurance does not have to last forever.

Many buyers are surprised to learn there are ways to remove PMI depending on their situation.

You may be able to remove it by:

Reaching 20% equity in your home
Seeing an increase in home value
Refinancing into a new loan
Requesting removal based on your current balance

A quick review can show if you are closer than you think.

According to Freddie Mac, rising home values have helped many homeowners reach equity positions faster than expected.

Source: Freddie Mac Housing Market Report 2025.

Not every borrower fits into a traditional box, and that is where FLEX loans come in.

These programs are designed for:

Self employed borrowers
Non traditional income
Unique financial situations

Instead of forcing a file into strict guidelines, FLEX loans allow for a more complete look at the borrower.

That can mean using alternative documentation, considering assets differently, or structuring the loan around how someone actually earns and manages money.

If you have ever felt like you do not fit the standard mold, there may be more options available than you think.

One of the biggest challenges I see is timing the sale of a current home with the purchase of the next one.

Transition loans are designed to solve that.

They allow you to:

Buy your next home before selling
Sell or rent your current home within a set timeframe
Move without feeling rushed or pressured

This creates flexibility and removes the stress of trying to line up two major transactions at the same time.

For many buyers, it turns a complicated move into a much more manageable process.

Today we remember and honor the brave men and women who gave everything for our freedom.

Thank you for your courage and sacrifice.

A renovation loan allows you to combine the purchase of a home and the cost of improvements into one loan.

That means:

One loan instead of separate financing
Ability to update or customize a home right away
Potential to increase value through renovations

This can be a great option for buyers who find a home with potential but not everything on their wish list.

Instead of passing on the property, you can turn it into what you want from the start.

I get a lot of the same questions from buyers, especially early in the process. Here are a few of the big ones:

Do I need 20% down?
No. Many buyers put down far less.

How much are closing costs?
Typically 2% to 5% of the purchase price.

Why does pre approval matter?
It shows sellers you are serious and gives you a clear budget.

What are points vs credits?
Points can lower your rate. Credits can reduce upfront costs.

Getting clear answers early helps buyers move faster and make stronger decisions.

According to the National Association of Realtors, 88% of buyers finance their purchase, which makes understanding these basics even more important.

Source: NAR 2025 Home Buyers and Sellers Report.