Financial Safari with Coach Pete
Sep 25, 2026 · 1 hr · 30 segments
In this episode of Financial Safari, Coach Pete and the team discuss why retirement planning should focus on the life you want to live—not simply reaching a certain account balance. The conversation…
It's been a fast-moving year, hasn't it? yes do you believe it really has you know it's uh thomas the more things change the more they remain the same though right yeah uh people say maybe i can finally buy a house now maybe i can finally afford it see you shouldn't stop buying a house just because mortgage rates are high by the way because there's something called a no closing cost mortgage that enables you to get a mortgage without any closing costs okay and so you can get in the house you want because think about it if interest rates start going down there's gonna be a lot more competition for that house right what's gonna happen to the price
I know mortgage rates are high, but get that house now, put the anchor, you know, you're in a boat, throw the anchor over and make it your house.
And then as rates come down, keep refinancing because no closing cost mortgages doesn't cost you anything but your time.
Now, Coach, what's the drawback for a no-closing-cost mortgage? Well, the interest rate's a little higher, maybe an eighth of a point higher than you would get in a regular one.
But you're not paying those $5,000 to $10,000 of closing fees that they work into the loan.
in so the loan rate is exactly the same as the house price they're not adding things on there which is good so i don't sell mortgages i'm just telling you that's what i've done all my life is i've used no closing cost mortgages to get my house down to 2.99 interest That's powerful.
And I tell the mortgage company to devote it all to principal because if you don't, they'll pay it forward for interest.
It's been a fast-moving year, hasn't it? yes do you believe it really has you know it's uh thomas the more things change the more they remain the same though right yeah uh people say maybe i can finally buy a house now maybe i can finally afford it see you shouldn't stop buying a house just because mortgage rates are high by the way because there's something called a no closing cost mortgage that enables you to get a mortgage without any closing costs okay and so you can get in the house you want because think about it if interest rates start going down there's gonna be a lot more competition for that house right what's gonna happen to the price
I know mortgage rates are high, but get that house now, put the anchor, you know, you're in a boat, throw the anchor over and make it your house.
And then as rates come down, keep refinancing because no closing cost mortgages doesn't cost you anything but your time.
Now, Coach, what's the drawback for a no-closing-cost mortgage? Well, the interest rate's a little higher, maybe an eighth of a point higher than you would get in a regular one.
But you're not paying those $5,000 to $10,000 of closing fees that they work into the loan.
in so the loan rate is exactly the same as the house price they're not adding things on there which is good so i don't sell mortgages i'm just telling you that's what i've done all my life is i've used no closing cost mortgages to get my house down to 2.99 interest That's powerful.
And I tell the mortgage company to devote it all to principal because if you don't, they'll pay it forward for interest.
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