Drunken Money

JON SANDERS, MORTGAGE LOAN OFFICER AT STOCK YARDS BANK & TRUST, SITS DOWN WITH US TO EXPLAIN MORTGAGES. JON BREAKS DOWN THE TERMINOLOGY AND GIVES US TIPS ON HOW TO GET A MORTGAGE FOR YOUR DREAM HOME. Some questions answered in this episode? How did Jon Sanders first get into the mortgage business? How are mortgage rates determined? How often do rates change and what are the current rates? What are the most important things to think about when you're looking to buy a house? How do you know if you're ready to purchase a house? What advice would Jon give to somebody purchasing their first house? What is the debt ratio and why is it important? What is a good debt ratio? How much should you save for your down payment? What is Fannie Mae? What is mortgage insurance and how big does your down payment need to be to avoid it? What information do you need to provide to get a mortgage? How does it change if you're an entrepreneur? What is a good credit score and when should you be worried about it? What is Jo