Here are the top 5 takeaways from this episode:

* New Role at First Financial Bank: Joe was recently appointed Mortgage Sales Manager for BankFinancial, now a division of First Financial Bank. He brings over a decade of experience and has processed and closed over $1 billion in residential mortgages.

* Community-First Banking: First Financial is a community-based bank that only lends in states where it has offices. It prioritizes local staff, local appraisers, and real-time access to live humans. No 800 numbers. No offshore processing.

* Home Equity Opportunity: With suburban Chicago home values up significantly over the last five years, homeowners are sitting on substantial equity. Joe highlighted cash-out refinancing and home equity loans as valuable tools, including one client who used it to fund a child’s education.

* Why the Housing Market Has Stalled: ~50-60% of mortgaged homeowners have rates below 4%, making it hard to justify moving when current rates are around 6%. Joe expects this to shift as the average 7-10 year homeownership cycle catches up with pandemic-era buyers.

* Ideal Referral Partners: Real estate agents, attorneys, financial advisors, and accountants are Joe’s top referral sources. He’s also launching a free quarterly lunch-and-learn program through the DBR Chamber to provide professional support to local business owners.

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