Matt Schwartz | Source | Mortgage Broker at VA Loan Network
Matt Schwartz
Matt Schwartz, owner of Southlake Loans, brings over 20 years of experience in the mortgage industry, offering personalized lending solutions to meet the diverse needs of his clients. Known for his expertise in VA loans, FHA loans, and conventional loans, Matt is dedicated to providing transparency and education throughout the mortgage process. His company, Southlake Loans, has earned a reputation for exceptional customer service, especially in helping veterans and first-time homebuyers navigate complex mortgage options. Matt’s hands-on approach ensures that clients secure the best possible rates and terms in today's competitive market.
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VA Loan Network (https://valoannetwork.com)
Mortgage Broker
started Jul 2021
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Renovate or Relocate? Expert Matt Schwartz Weighs In
Matt advises, “If renovation costs exceed 15–20% of your home’s post-reno value, consider moving.” Emotional factors like outgrowing a home or needing a fresh start also play a role. Rising rates may deter moves, but limited inventory boosts selling potential. For those planning to grow or downsize in 3–5 years, relocating now might be wiser. -
Understanding Chattel Mortgages: Key Insights from Mortgage Expert
Matt explains that a chattel mortgage is "secured by movable property," unlike traditional mortgages tied to real estate. Common in manufactured housing and equipment financing, these loans close faster but have higher interest rates. Borrowers should be aware of depreciation and land ownership impacts. Understanding these factors is crucial before committing to a chattel mortgage. -
FHA Loans: Overcoming Stigma in Competitive Housing Markets
Matt highlights that FHA loans, despite low down payments and flexible credit, face rejection due to strict appraisal standards and perceived red tape. In competitive markets, sellers prefer "clean" offers, sidelining FHA buyers. Matt suggests structuring FHA files to appear conventional and calls for streamlined appraisals to boost seller confidence.
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A temporary buy down allows funds to be applied to either the principal balance or refunded if the loan is refinanced before the buy-down term ends, benefiting borrowers either way. In contrast, a permanent buy down reduces the interest rate for the loan’s life, but once the loan is paid off or refinanced, the benefit is lost. Temporary buy downs are best when covered by the seller, and with permanent buy downs, it’s crucial to ensure you’ll keep the loan long enough to recoup the upfront costs, especially in a fluctuating rate environment.