Your Financial Pharmacist

YFP 399: From Pre-Approval to Closing: Understanding the Mortgage Process (and Common Mistakes to Avoid)

Broadcast on:: 13 Mar 2025

Tim Ulbrich, YFP Co-Founder is joined by mortgage loan officer Tony Umholtz to discuss the mortgage process. They break down key steps, from getting pre-approved to closing, highlighting important considerations and common mistakes to avoid when buying a home.

This episode is brought to you by First Horizon.

Summary

In this episode, Tim Ulbrich, YFP Co-Founder and CEO is joined by Tony Umholtz, a mortgage loan officer with First Horizon Bank as they break down one of the biggest financial commitments you’ll ever make—buying a home.

Taking out a mortgage is a massive financial decision, one that can impact your life for decades. From getting pre-approved to signing those final papers at closing, there’s a lot to consider—and a lot of mistakes to avoid.

Tim and Tony walk listeners through the mortgage process step by step. They cover what you need to know before getting pre-approved, how the bank sets your max loan amount, and how to avoid common pitfalls throughout the process.

About Today's Guest

Tony Umholtz is the Senior VP of Mortgage Banking at First Horizon. He graduated Cum Laude from the University of South Florida with a B.S. in Finance from the Muma College of Business. He then went on to complete his MBA. While at USF, Tony was part of the inaugural football team in 1997. He earned both Academic and AP All-American Honors during his collegiate career. After college, Tony had the opportunity to sign contracts with several NFL teams including the Tennessee Titans, New York Giants, and the New England Patriots.

Being active in the community is also important to Tony. He has served or serves as a board member for several charitable and non-profit organizations including board member for the Salvation Army, FCA Tampa Bay, and the USF National Alumni Association. Having orchestrated over $1.1 billion in lending volume during his career, Tony has consistently been ranked as one of the top mortgage loan officers in the industry by the Scotsman’s Guide, Mortgage Executive magazine, and Mortgage Originator magazine.

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