So glad I came across this video. My husband was starting to think he was crazy or unreasonable because he felt our agent’s in-house lender wasn’t doing a proper job at informing us about the full picture and we had to bug them to give us a LE beforehand because they insisted they don’t until you’re in escrow and they also said they couldn’t do an itemized fee worksheet (or any kind of worksheet at all). We talked to another lender who happily provided us with an itemized fee worksheet and told us that the in-house lender should’ve been able to provide us with something. Kind of gave us a sour feeling that they were only able to accommodate our LE request because we pushed for it..
@@WinTheHouseYouLove Hi, Kyle, Could you advise why the 3 lenders that I've submitted documents for a mortgage per-approval are taking more than 2 weeks to update me? My credit score is over 800. Is there something I can do to speed them up? I've been waiting to write an offer on two homes that I like very much for over two weeks. Thank you in advance for your elucidation!
I agree i was told by a broker that she cannot share my credit score with another lender because its illegal but failed to say that other lenders can pull credit score within the 45 day window
The question the heart of a teacher is very true. I'm currently in the stage of shopping around for the best rate before actually going to houses and I've come across 2 out of 4 lenders who have answered all my questions, very responsive and follow up while the other two seem dismissive or not to worried about my questions. I'm praying everything goes through so I can become a single homeowner.
@@WinTheHouseYouLove I'll ask here, hopefully if you have time and see this you can answer, is it common and not difficult for lenders to fund very low amounts, under $50,000, for 15 or 30 years? What about even lower like 20 or $30,000?
@@kbanghart Hey there! I'll jump in and answer this since I'm a lender. It's actually NOT very common and is a bit difficult. The reason being, most lenders and third parties have fixed fees rather than percentages these days. And while a fixed fee is a low percentage of a $500k loan, it's a very HIGH percentage of a $30k loan. And when that percentage is too high, it's called a "High Cost Loan" and won't meet regulatory requirements.
@@bradsneckner6129 okay thank you so much for the reply, I had a feeling that was the case. So what is the cutoff generally, do you think, like 100k or higher?
Gosh I'm so happy I ran into your channel. I was completely ignorant about everything regarding buying a home. I have watched all your videos!!!! Some twice to make sure my notes are right. Thank you for the free information!!!! You have the heart of a teacher ❤ I feel less overwhelmed!
Thank you for the break down on this. This all is so new to me. My fiancé and I are first time home buyers and we are learning so much every day with this whole process!! Like today, we just learned we can shop around for multiple lenders. I thought the one lender we have, we are stuck with. So now I’m on a hunt for 3-4 different lenders and I will be comparing them all and see which better fits us. Thankful for your help! New sub 😁
This is pure gold of details, I can relate in my case as first time home buyer how it goes through and all the challenges I am facing currently, due to my home builder is paying 3% in closing and I must go with their preferred lender, other I would not spend a single minute with their preferred lender as they literally have no interest in educating me or customer first policy seems, I feel frustrated and need to just keep myself up to date by watching multiple YT videos! Thank you for sharing all the details here.
I'm really sorry you're feeling this way, it sounds quite frustrating to deal with a preferred lender who's not helpful. Maybe check out our site to see if you qualify for additional grants at www.winthehouseyoulove.com/grant or consider comparing your current quote to what we can offer at www.winthehouseyoulove.com/compare to see if there's a way to improve your situation.
Thank you so much man. I wanted to do exactly what you said & check out a bank, credit union & lender but the lender tried to scare me off saying it would be multiple hits & I needed to make up my mind before having any information
Don’t comment on videos usually but I’m a realtor and like to look at videos before I interview lenders that I haven’t met before and this guy hits all the marks. Would definitely recommend for buyers and real estate agents!
Kyle, it's a real pleasure watching your videos. They are very informative and interesting. You explain things in layman terms, so thatt it's easy to understand. Because of your videos, I have a better understanding of what to ask and what to expect during the application process. Your links make it easier to do my research with. Keep up the great work!
Kyle your information are always so helpful!!! Credit unions are most likely to have better rates and more flexible with your credit scores than most major banks...
Mortgage brokers often can find the lowest rates but the question is how can you find the right broker who won't make a killing on your loan. Mortgage Bank can push tough loans through but pricing won't be the best "overhead". Rates are often similar across the board but different is "the good guy" who handles your paperworks.
you're incredible, the encouraging and de-stressing way you teach. super presentation and delivery and of course subject matter. this was so helpful and informative, so appreciated, thank you. your vids are always so genuine
OMG! Thank you so much for this. I was so lost about this and trying to do research. I’m not a great numbers person so this really helped me feel more confident about what I’m doing. Thank you!
Hey Melanie! Thank you so much for your kind words and support! I'm really glad that my video was able to help you feel more confident about navigating the mortgage process. If you're ready to take the next step and start on a pre-qualification, you can visit www.winthehouseyoulove.com. Feel free to reach out if you have any more questions, I'm here to help!
Your videos are very useful and provide lots of information. I have received lots of help from your posts, please continue to share this kind of information. Thank you.
Kyle thank you so much. I am learning so much from all your video and Section A, I had no idea about it. Your voice is so calming, I wish I could work with you.
Thank you so much for your educational videos! We’ve paid off our credits cards and now playing the patience game doing our research. Hopefully the second half of the year is better as far as new listings!
Since first day I found this channel my only wish was to live in Ohio , columbus area and work there and connect with you to help me with pre approval for my first property . This how I felt after watching your first video and I still have that wish . So educational and easy to understand . Lots of great information and bunch of it I already knew but still learning a lot of new stuff. Was pre approved in Minnesota 6 times , different years and still on the market and started to think maybe Minnesota is just not my place to buy . Doing my researching for years now with watching videos on TH-cam and reading lots of information . Like your previous video with an interview ... Lots of lots of research and now I am also looking for an outside of Minnesota .. prices are very low to rent and to buy at some States where I would not mind to move from twin cities .
I have been told it will hurt my Credit score if I get more mortgage pre approvals, by a few lender agents that I haven’t even let them run my credit. Please anyone can assure me it is okay or not okay to do it. Thanks.
Is it ok to let them know you already got a preapproval and are shopping around? Maybe puts pressure on them to give you their best deal as competition?
Hi Kyle, what is the timeline here? You get your 3 quotes at the pre-approval step - you search for a house and make an offer based on your best quoted option from one of the lenders. Once your offer is accepted do you go back to all 3 quoted options and verify that your best quote is still actually your best quote at the time of your formal mortgage application? I would imagine over the course of a few weeks to months that the offers from the lenders change.
It's best to: - get pre-approved with 1 lender - shop with a couple other lenders (they may or may not require a pre-approval) - decide on the lender you want to work with - put in an offer on a home If one lender is the cheapest now, it most likely will be the cheapest when you're under contract.
I was trying bmo harris bank and associates bank in Minnesota also us bank . And I would not say I did not like the rates , just lenders were super busy always and replying slow and not answering emails and phone calls .. never felt a good connection with them . Don't know why I was always afraid to go with brokers .I thought my realtors was just trying to sell me to them , offering me there business instead of big banks lenders . Now I feel that I should be trying that too to compare but my financial situation is very good with excellent credit history and Everything . It was that way for many years here ..so I was happy with rates , not with customer service. Just was looking for a place what will match my price and good connection with a lender . Haven't found it yet . Still on the market .
Thank you for this video. In order to compare all the 3 lending options, do I have to go through the whole pre approval process with each one? Or is there another way to compare specifically page 3?the total cost in 5 years?
Thats a great question and he is not dealing with and the more important question is can you get me the conditional approval in time to remove my contingencies
Hi I watched your show on April 24 and it was a show done in Jan..very good ..I'm trying to get my score at least in the 720 range..I'm a veteran with no Funding fee and no PMI and no down pymts..also in a state w no property taxes for disabled veterans..my annual non-taxable income is 65,000..my debt monthly is 320 ..I pay 80 on each of my credit card balances monthly but min pymts is only 150.
If I shop around for lenders how far do I go in the process until I know which lender I actually pick, do I continue with multiples up to underwriting? Then go with whoever approves me first
Oh , you will know , believe me .. I was dealing with 6 of them and got pre approval but was talking to many more and still looking . Hard for me to find a good Lender match
@@WinTheHouseYouLove She meant section A charges in your loan disclosure agreement…. I’m also wondering how are we supposed to know what is an acceptable amount of fees on your home loan quote?
I just wanted to clarify for viewers that when you said under contract, you probably meant the contract on the house. Someone who is new to lending may get the wrong idea and think that they are in a contract with the lender. That is not the case. 🙂
Hello, excellent Content. Could you make a video providing information on home loans considering renovations as a way to get a house that has the potential to be worth much more? For example, getting a good offer on a fixer upper and using the home loan to renovate the home.
Is it a bad sign if a lender tries to make you feel like they’re your only option or is that just business? Particularly, a real estate agent’s preferred lender.
This is such a great question, as I am going through the same at the moment, I feel some sort of pressure to go with my realtors lender, but I definitely feel like there’s better offers out there..
@@sierramanning9276 My understanding of this thru thinking & looking into it is that the Realtor prefers you do it with their lender because they’ve worked with them before and makes life easier on both of them & communications easy whereas choosing a different lender of your own means they are unknown to each other & reliability & timeliness may vary between them yet they must strive to work together & be on the same page which isn’t always easy with someone you’ve never known or worked with before. Regardless tho, the power really should be with the consumer to do & choose as they wish & the Realtor & lender’s professionalism should really still keep the process smooth despite whatever differences for the consumer’s sake. But there is always room for variances of performance. But a low enough interest rate or service from a different lender could be worth these “risks” do going with your own lender, if you will. Hope that helps but if there is any more light to be shed on this, I welcome that also.
I'm a new subscriber and I love your demeanor and willingness to help. Do you have a video that will help us find lender's who accept a 500 credit score for fha loans? Thank you so much!
Thanks for all the great info. Is it normal for buy down points to change daily? Was quote 1700 one and 3100 the next day to buy down. Is there a standard cost to buy down points?
My loan officer sent my Loan estimate to my realtor. I had to ask the realtor for it. And his Origination fee and discount points are not on there. Annnnd he didn't answer my text Friday at 5:30. I guess it's after hours for him.
You mention to 1st go through a credit union being a good option to go through. I have Navy Federal Credit Union and it's not local. Since it's a huge credit union, I started an application online for pre approval but glad I didn't move forward. 45 days for pulls to hit credit report. Since I'm moving to a different state I am not sure this is a Good idea to do this before I move and am there to actually see what I'd be buying. What are your thoughts?
what abt rules/regulations on leasing an office space, that i mortgage, to a cannabis retailer? like can you lease out an office/retail space that is part of a building that is currently under mortgage?
Does the 45 day rule still in place? I’m reading online on several sites it’s 14 days. Just want to be sure before I get too many inquiries. Thanks !!!!
45 days according to the government body that regulates mortgages: www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/
So glad I came across this video. My husband was starting to think he was crazy or unreasonable because he felt our agent’s in-house lender wasn’t doing a proper job at informing us about the full picture and we had to bug them to give us a LE beforehand because they insisted they don’t until you’re in escrow and they also said they couldn’t do an itemized fee worksheet (or any kind of worksheet at all). We talked to another lender who happily provided us with an itemized fee worksheet and told us that the in-house lender should’ve been able to provide us with something. Kind of gave us a sour feeling that they were only able to accommodate our LE request because we pushed for it..
You have a teaching heart! Thank you.
I appreciate that!
For sure!
Lucky to find you here.
@@WinTheHouseYouLove Hi, Kyle,
Could you advise why the 3 lenders that I've submitted documents for a mortgage per-approval are taking more than 2 weeks to update me? My credit score is over 800. Is there something I can do to speed them up? I've been waiting to write an offer on two homes that I like very much for over two weeks. Thank you in advance for your elucidation!
Yes you're awesome. Heart of a teacher
Am I the only one who really appreciates that he clearly has notes?
Thanks for the compliment. :)
I needed that calming moment just now…thank you. This process can be very overwhelming.
Thanks for watching!
Thanks for “section A fees” information 😁 I had no idea! Or the 45 day rule👍🏻
Glad it was helpful!
I agree i was told by a broker that she cannot share my credit score with another lender because its illegal but failed to say that other lenders can pull credit score within the 45 day window
What was the 45 days rule? I think I missed that
Thank you for your words.
It's almost relaxing watching your videos, thank you for not yelling at the camera.
You’re welcome! Thanks for watching! 😊
Ty, I’m going through this process right now and it’s overwhelming not knowing what to ask. Helped me tremendously!
The question the heart of a teacher is very true. I'm currently in the stage of shopping around for the best rate before actually going to houses and I've come across 2 out of 4 lenders who have answered all my questions, very responsive and follow up while the other two seem dismissive or not to worried about my questions. I'm praying everything goes through so I can become a single homeowner.
Awesome video! As a loan originator myself, I understand that this can be a scary process for any first-time homebuyer. I appreciate you posting this!
Yes! Thanks for commenting and watching. :)
@@WinTheHouseYouLove Of course!
@@WinTheHouseYouLove I'll ask here, hopefully if you have time and see this you can answer, is it common and not difficult for lenders to fund very low amounts, under $50,000, for 15 or 30 years? What about even lower like 20 or $30,000?
@@kbanghart Hey there! I'll jump in and answer this since I'm a lender. It's actually NOT very common and is a bit difficult. The reason being, most lenders and third parties have fixed fees rather than percentages these days. And while a fixed fee is a low percentage of a $500k loan, it's a very HIGH percentage of a $30k loan. And when that percentage is too high, it's called a "High Cost Loan" and won't meet regulatory requirements.
@@bradsneckner6129 okay thank you so much for the reply, I had a feeling that was the case. So what is the cutoff generally, do you think, like 100k or higher?
Gosh I'm so happy I ran into your channel. I was completely ignorant about everything regarding buying a home. I have watched all your videos!!!! Some twice to make sure my notes are right. Thank you for the free information!!!! You have the heart of a teacher ❤ I feel less overwhelmed!
You are so welcome!
Thank you for the break down on this. This all is so new to me. My fiancé and I are first time home buyers and we are learning so much every day with this whole process!! Like today, we just learned we can shop around for multiple lenders. I thought the one lender we have, we are stuck with. So now I’m on a hunt for 3-4 different lenders and I will be comparing them all and see which better fits us. Thankful for your help! New sub 😁
Just learned that today! Good luck with your first home!
First time homebuyer here, I’m glad I watched this video
Wow! Best of luck and thanks for watching my video. :)
Kyle, you got me excited for 2021; definitely going to get the best team with all this knowledge I'm gaining from you! Thank you!
I'm so glad to hear, thanks for watching!
how'd your 2021 go?
This is pure gold of details, I can relate in my case as first time home buyer how it goes through and all the challenges I am facing currently, due to my home builder is paying 3% in closing and I must go with their preferred lender, other I would not spend a single minute with their preferred lender as they literally have no interest in educating me or customer first policy seems, I feel frustrated and need to just keep myself up to date by watching multiple YT videos! Thank you for sharing all the details here.
I'm really sorry you're feeling this way, it sounds quite frustrating to deal with a preferred lender who's not helpful. Maybe check out our site to see if you qualify for additional grants at www.winthehouseyoulove.com/grant or consider comparing your current quote to what we can offer at www.winthehouseyoulove.com/compare to see if there's a way to improve your situation.
Thank you so much man. I wanted to do exactly what you said & check out a bank, credit union & lender but the lender tried to scare me off saying it would be multiple hits & I needed to make up my mind before having any information
Don’t comment on videos usually but I’m a realtor and like to look at videos before I interview lenders that I haven’t met before and this guy hits all the marks. Would definitely recommend for buyers and real estate agents!
Your voice is so soothing.
Literally just came to get some quick info..I actually subscribed, great video and great heart to sharing valuable information
Welcome aboard!
Kyle, it's a real pleasure watching your videos. They are very informative and interesting. You explain things in layman terms, so thatt it's easy to understand. Because of your videos, I have a better understanding of what to ask and what to expect during the application process. Your links make it easier to do my research with. Keep up the great work!
Glad you like them! I hope I can assist you in your future home. Best of luck!
@@WinTheHouseYouLove k
Kyle your information are always so helpful!!! Credit unions are most likely to have better rates and more flexible with your credit scores than most major banks...
Thanks! Yeah, it seems like credit unions are better than banks and brokers are usually side-by-side with credit unions
Mortgage brokers often can find the lowest rates but the question is how can you find the right broker who won't make a killing on your loan. Mortgage Bank can push tough loans through but pricing won't be the best "overhead". Rates are often similar across the board but different is "the good guy" who handles your paperworks.
you're incredible, the encouraging and de-stressing way you teach. super presentation and delivery and of course subject matter. this was so helpful and informative, so appreciated, thank you. your vids are always so genuine
Thank you!! Great layout, and format. Learned a lot, you’re a great teacher with a heart of gold
Thank you so much! I'm really glad you found the information helpful.
OMG! Thank you so much for this. I was so lost about this and trying to do research. I’m not a great numbers person so this really helped me feel more confident about what I’m doing. Thank you!
Hey Melanie! Thank you so much for your kind words and support! I'm really glad that my video was able to help you feel more confident about navigating the mortgage process. If you're ready to take the next step and start on a pre-qualification, you can visit www.winthehouseyoulove.com. Feel free to reach out if you have any more questions, I'm here to help!
Thanks for the resources. I hadn't heard of Certified Mortgage Advisor before. Looks like a great way to find lenders.
They are!
Kyle great information. This will help me moving forward. Continue putting out good and helpful advice. Thanks.
Thanks for watching!
I am so thankful for this video. This was a great breakdown of the process, and I’m looking forward to purchasing my 1st home. ☺️
Thank you so much for watching!! :)
It will count as one inquiry but does this mean it will still show up on your credit report?
“Heart of a teacher.” ❤️❤️❤️
Appreciate it. Thanks for watching!
Thank you so much. I was feeling so overwhelmed by this process. 🙏
Best of luck and thanks for watching. :)
Your videos are very useful and provide lots of information. I have received lots of help from your posts, please continue to share this kind of information. Thank you.
Awesome! Thanks for the support. :)
I'm glad that I found your channel! You got some super content here! Thank you!
Awesome, thank you!
Kyle thank you so much. I am learning so much from all your video and Section A, I had no idea about it. Your voice is so calming, I wish I could work with you.
Thank you so much for watching!! :)
Thank you so much, comparing me with Nick.
I liked this video because of the Calm Moment. It's like you heard my heart. The other information is great too. Thank you!
Thank you so much for watching!! :)
I’m happy to stumble upon this video. You rock!
You rock!
Excellent, well done! Mortgage brokers shoud be doing 70% of residential transactions if consumers take your info to heart!
Thank you so much for watching!! :)
Thank you so much for your educational videos! We’ve paid off our credits cards and now playing the patience game doing our research. Hopefully the second half of the year is better as far as new listings!
Thank you so much for watching!! :)
Exactly the video I was looking for. Fantastic content. Keep it up and this channel will explode with subscribers!
Thank you so much for watching!! :)
Great job! Your videos are very professional, realistic and honest!
Thanks fore watching!
Can you did a video about being a new loan originator and choosing who to work for? California specifically
Possibly in the future :)
Do credit Unions usually give out mortgages in different states that they have no branches in?
Thank goodness I came across your videos!!!! I am sitting here taking notes on everything!!! Thank you so much! 💕🙏🏼
Thank you so much for watching!! :)
Very well presented. Thanks for providing with clarity.
That's the main goal, to make the information clear. Thank you!
Such a welcoming voice, paired with powerful information! Thank you for sharing
Thank you kindly!
Really appreciate the Calm Moment you did!
#CalmMoment Thanks for watching!
Thanks for posting!! Appreciate the practicality and unbiased nature of this. Makes the whole process seem more manageable for a first time buyer.
My pleasure! Thanks for watching. :)
Thank you for this it's been so hard to find someone I can listen to explain this. Your explanation is clear and to the point. ☺️🙏
Thank you so much for watching!! :)
@@WinTheHouseYouLove I am hooked now. Just need to catch up and watch all the older videos.
Oh my gosh! I wish I would have found you 60 days ago (or more). So many lessons. Thanks for your videos!
You're welcome!
Can you explain the contract close date and its intricacies in a video?
Since first day I found this channel my only wish was to live in Ohio , columbus area and work there and connect with you to help me with pre approval for my first property . This how I felt after watching your first video and I still have that wish .
So educational and easy to understand .
Lots of great information and bunch of it I already knew but still learning a lot of new stuff.
Was pre approved in Minnesota 6 times , different years and still on the market and started to think maybe Minnesota is just not my place to buy .
Doing my researching for years now with watching videos on TH-cam and reading lots of information . Like your previous video with an interview ...
Lots of lots of research and now I am also looking for an outside of Minnesota .. prices are very low to rent and to buy at some States where I would not mind to move from twin cities .
Thank you so much for sharing! I'm so glad the videos have been helpful for you!!
This video I EXTREMELY informative! Thanks for doing this .
You're so welcome! I'm glad you found my channel. :)
Very insightful. Thanks for this video, I plan on assessing all of our mortgage contenders as you recommended.
Thank you so much for watching!! :)
As a lender myself, I agree with everything this video has went over.
Thank you!
I have been told it will hurt my Credit score if I get more mortgage pre approvals, by a few lender agents that I haven’t even let them run my credit. Please anyone can assure me it is okay or not okay to do it. Thanks.
Very educational. I feel I am less anxious and knowledge now thank you!!!
Glad it was helpful! You're welcome. :)
Omg Kyle ur the best, u have no idea how much this information is helpful. Thank you.
Happy to help!
Is it ok to let them know you already got a preapproval and are shopping around? Maybe puts pressure on them to give you their best deal as competition?
What software allows you to split screen and draw on that page? Genuinely want to know!
I like he said they need to teach you and explain things to you.
Hi Kyle, what is the timeline here?
You get your 3 quotes at the pre-approval step - you search for a house and make an offer based on your best quoted option from one of the lenders. Once your offer is accepted do you go back to all 3 quoted options and verify that your best quote is still actually your best quote at the time of your formal mortgage application? I would imagine over the course of a few weeks to months that the offers from the lenders change.
It's best to:
- get pre-approved with 1 lender
- shop with a couple other lenders (they may or may not require a pre-approval)
- decide on the lender you want to work with
- put in an offer on a home
If one lender is the cheapest now, it most likely will be the cheapest when you're under contract.
Amazingly informative & not biased.
Thank you so much for watching!! :)
What lenders are you working with or looking at right now?
Quicken Loans
Thinking about Quicken loans as well.
Quicken Loans
I was trying bmo harris bank and associates bank in Minnesota also us bank . And I would not say I did not like the rates , just lenders were super busy always and replying slow and not answering emails and phone calls .. never felt a good connection with them .
Don't know why I was always afraid to go with brokers .I thought my realtors was just trying to sell me to them , offering me there business instead of big banks lenders .
Now I feel that I should be trying that too to compare but my financial situation is very good with excellent credit history and Everything . It was that way for many years here ..so I was happy with rates , not with customer service.
Just was looking for a place what will match my price and good connection with a lender . Haven't found it yet .
Still on the market .
Navy Federal credit union
Have a good concept of how to buy a home by loan . THANKS for your video.
You are welcome and thanks for watching!
I think it’s important to note that origination can include the brokers compensation
Under Section A Origination Charges, sure
Wow, well explained. You can be a teacher/professor. Thank you very much.
♥ Thank you!
Thank you for this video. In order to compare all the 3 lending options, do I have to go through the whole pre approval process with each one? Or is there another way to compare specifically page 3?the total cost in 5 years?
Great video. So how can you find a lender who close on time? What time frame do you need to close a house? 30 days?
Thats a great question and he is not dealing with
and the more important question is can you get me the conditional approval in time to remove my contingencies
I love your videos you're so full of knowledge and help in this troubling time!
Glad you like them!
Your videos have been so helpful to me! I've been going thru them with each step of my homebuying process.
Wow! I wish you luck!
What an awesome video. !!! Many Thanks
Glad it was helpful! I'm now on live stream, see you!
I appreciate you sharing insight to home buying! Thank you!
Thanks for watching!
Thank you! I'm Glad I clicked your video
Thanks for watching!
Kylie what is the best company to refinance my house?
Hi I watched your show on April 24 and it was a show done in Jan..very good ..I'm trying to get my score at least in the 720 range..I'm a veteran with no Funding fee and no PMI and no down pymts..also in a state w no property taxes for disabled veterans..my annual non-taxable income is 65,000..my debt monthly is 320 ..I pay 80 on each of my credit card balances monthly but min pymts is only 150.
Thank you so much for watching!! :)
Hi, what is the mic are your using?
If I shop around for lenders how far do I go in the process until I know which lender I actually pick, do I continue with multiples up to underwriting? Then go with whoever approves me first
Oh , you will know , believe me .. I was dealing with 6 of them and got pre approval but was talking to many more and still looking . Hard for me to find a good Lender match
I think it's good to shop with 3 to get quotes. You don't need fully approved with each.
Great videos...
Does the section A charges vary depending on the price of the house or is it a flat fee?
Thanks in advance
Hi! I'm sorry but I'm not sure what "section A charges" is for... do you mean "Section 8"?
@@WinTheHouseYouLove She meant section A charges in your loan disclosure agreement….
I’m also wondering how are we supposed to know what is an acceptable amount of fees on your home loan quote?
Great video!! Thank you.
Q: what information it should be on a pre-approval letter?
Thanks!
Rate, all closings costs including estimated 3rd party fees, points, monthly payment, total cash to close, details of loan program
I’m confused…is the Credit Union a lender or no? I was going to start with my CU here in town.
I just wanted to clarify for viewers that when you said under contract, you probably meant the contract on the house. Someone who is new to lending may get the wrong idea and think that they are in a contract with the lender. That is not the case. 🙂
Thanks for clarifying :)
Can I use this info for refinance. Having a lot of problems finding lenders.
Hello, excellent Content. Could you make a video providing information on home loans considering renovations as a way to get a house that has the potential to be worth much more? For example, getting a good offer on a fixer upper and using the home loan to renovate the home.
Added that to my video list, thanks for the suggestion!
Thanks for this video, full of great tips!!
Glad you enjoyed it!
You are awesome at explaining the process.
Thank you!!
Thanks for watching!
Great video, thanks for posting.
My pleasure. Thanks for watching. :)
This was such an awesome video, very informative. Thanks so much
Glad it was helpful!
Hey Kyle!
Do you mind sharing the equipment you are using to make these videos? I’m impressed with the quality. Thanks!
Thanks! Here's a video on it: th-cam.com/video/oKzw5LLUj30/w-d-xo.html
I got pulled before my previous pre approval expired to see what I'd be approved for at new rates is that normal?
What is the loan processor job?
So much information that anyone, looking at buying, should have! Thank you Kyle!
Glad it was helpful!
Is it a bad sign if a lender tries to make you feel like they’re your only option or is that just business? Particularly, a real estate agent’s preferred lender.
This is such a great question, as I am going through the same at the moment, I feel some sort of pressure to go with my realtors lender, but I definitely feel like there’s better offers out there..
@@sierramanning9276 My understanding of this thru thinking & looking into it is that the Realtor prefers you do it with their lender because they’ve worked with them before and makes life easier on both of them & communications easy whereas choosing a different lender of your own means they are unknown to each other & reliability & timeliness may vary between them yet they must strive to work together & be on the same page which isn’t always easy with someone you’ve never known or worked with before.
Regardless tho, the power really should be with the consumer to do & choose as they wish & the Realtor & lender’s professionalism should really still keep the process smooth despite whatever differences for the consumer’s sake. But there is always room for variances of performance. But a low enough interest rate or service from a different lender could be worth these “risks” do going with your own lender, if you will.
Hope that helps but if there is any more light to be shed on this, I welcome that also.
@@jaysant6958 thank you so much, you provided great insight on this 😊
Please confirm if the window for “multiple credit checks to be counted as single enquiry” is 45 days or just 14 days.
www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/
Thank you !!
I'm a new subscriber and I love your demeanor and willingness to help. Do you have a video that will help us find lender's who accept a 500 credit score for fha loans? Thank you so much!
Thanks for all the great info. Is it normal for buy down points to change daily? Was quote 1700 one and 3100 the next day to buy down. Is there a standard cost to buy down points?
Yes it changes with the market
My loan officer sent my Loan estimate to my realtor. I had to ask the realtor for it. And his Origination fee and discount points are not on there. Annnnd he didn't answer my text Friday at 5:30. I guess it's after hours for him.
"Thank you, next" that loan officer
You mention to 1st go through a credit union being a good option to go through. I have Navy Federal Credit Union and it's not local. Since it's a huge credit union, I started an application online for pre approval but glad I didn't move forward. 45 days for pulls to hit credit report. Since I'm moving to a different state I am not sure this is a Good idea to do this before I move and am there to actually see what I'd be buying. What are your thoughts?
This was very good and informative, thank you!
Thanks for watching!
Thank you for sharing this information.
Appreciate it! Thank you!
what abt rules/regulations on leasing an office space, that i mortgage, to a cannabis retailer? like can you lease out an office/retail space that is part of a building that is currently under mortgage?
hi. Very good information here, thanks so much. A question I have is, do you need to pay fro Appraisal 3 times if you apply to 3 different lenders?
They can use appraisal transfer, you can ask you lender about this. This will save you some money. :)
Very helpful! Glad I found your channel
Glad it was helpful!
Does the 45 day rule still in place? I’m reading online on several sites it’s 14 days. Just want to be sure before I get too many inquiries. Thanks !!!!
45 days according to the government body that regulates mortgages: www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/