Hi, Angela Nicholson here. I'm a dedicated loan officer with Conrad Mortgage Group, proudly serving the Northeast Ohio community. With years of experience in the mortgage industry, my passion lies in helping individuals and families navigate the often-complex process of securing the right loan for their needs.
Homeownership can be such a dichotomous journey. What starts as an ephemeral idea, possibly as vague as a price point and number of bedrooms, quickly intensifies with more and more exacting criteria. We immerse ourselves in floor plans, neighborhoods, finishes and finances. Anxiety intermingles with relief, there are so many details to take care of but also things that are out of our hands. Terms like earnest money and escrow pepper our speech, appreciation and depreciation enter the chat. The closing date approaches, then it’s done, and the biggest purchase most of us ever make becomes just another milestone. Moving in, settling in, filling the space, making the house a home — all of the doing replaces most of the researching and strategizing. There is a shift from thinking in terms of thousands of dollars to cost savings and buying paint in gallons or switching to LED light bulbs.
It’s exciting to be a homeowner. And it’s not. At first, it’s all you talk about. And then it’s not. It’s one of the biggest factors in building wealth but also one of the largest debts you may ever take on. Building equity is an easy thing to set and forget, but that same equity can be an enigma until explored.
It’s a known fact that homeowners are wealthier than renters at every income level. For middle and higher income level households, housing accounts for at least a third, and sometimes up to sixty-five percent, of total assets. Homeowners’ net worth has increased nearly 40 times higher than renters in recent years, contributing to one of the widest wealth gaps in history.
At the same time, credit card debt has been on the uptick and emergency savings have reached uncomfortably low levels for most Americans. Many are struggling with historically higher costs of utilities, food and gas. All of this is putting a strain on budgets and goals of financial freedom. Uncertainty leads to analysis paralysis, maybe procrastination too, but sometimes it leads to enlisting help.
One of the most invaluable services I offer is guiding clients through proactive loan consultations. My approach is collaborative and transparent. We will talk about goals and long term plans. This way, we prepare for opportunities, rather than react hastily or haphazardly to changes in a fast-moving market. These preliminary applications rely on a soft credit pull, with no impact on credit score. Having an application on file gives my clients peace of mind and a competitive edge.
The Homeowners CliffsNotes of Refinancing
Many homeowners hesitate to refinance because they believe rates must be significantly lower or that costs will be too high. The reality is, regardless of where rates stand today, the cost of waiting can outweigh the cost of borrowing — especially as home values continue to rise. And in Medina County, they are outpacing the rest of the nation.
Refinancing allows you to:
- Lower Your Monthly Debt Payments — Use your home equity to pay down high-interest credit cards and personal loans.
- Free Up Cash for Investments — Reallocate your savings into high-yield investment portfolios or other wealth-building opportunities.
- Shorten Your Loan Term — Pay off your home faster and save thousands in interest over time.
- Take a Financial Breather — Many refinances come with a break in payments, an escrow refund and access to extra funds that can provide much-needed flexibility.
Refinancing can also be timed up for a gap of two mortgage payments between an old and new loan. This gap, coupled with any funds refunded from the existing loan’s escrow account, can give an additional cushion and help rebuild savings. It’s these details and opportunities that I take the time to explain, without pigeonholing anyone into cookie cutter solutions, ensuring my clients are fully equipped to make the best financial decisions.
My mission is simple: to provide compassionate, knowledgeable and professional loan assistance. If you’re navigating the complexities of today’s market, I’m here to guide you — one decision at a time. Contact me at 330.962.2713, or email me at anicholson@conradmortgage.com, to get started today.