Section B, Section C and Section H are areas where the lender can get kickbacks from title company, closing attorney and other people providing the services like courier fee, attorney fee, notary fee, appraisal fee, survey fee. These are overlooked as small things but lenders steer you to preffered providers for a reason. Specially when buying new construction and all these services are in house or provided by the same persons.
Thanks for sharing! It's true, those sections can include fees from preferred vendors, and it's important to look closely at what you're being billed to understand the true costs.
Speaking of synchronicity!! I received my home estimate a few hours earlier and this video just popped up on me out of nowhere. What a godsend! This is my third home purchase and I had never understood before what I learned in 30 min from watching it. Not only you know your stuff, Kyle. On top, you also have a talent to explain it in the clearest and less anxiety-generating way possible. Kudos to you and thank you.
Are you a mind reader? I started applying to lenders over the weekend. Haha, now I can sound like a pro when I talk to them about stuffs 😌 Thank you! Edit: one of the lenders had my Loan Estimate doc online and I've been following along like a good student. Definitely recommend doing the same for anyone who has a Loan Estimate doc while watching this video 👍👍
Just used this document to walk through an initial disclosure. Thanks so much for this! Made the confusion clearer and allowed me to compare what I had been promised verbally with what was written.
@@WinTheHouseYouLove I did reach out but had a few details specific to my situation that your team couldn't work around. We just closed right before Christmas. Thanks for your videos and we'll keep you in mind next time, I'll have a full W-2 two years working experience by then.
I just received my loan estimate on my first home purchase today, what a coincident. This helped me quite a bit, I semi-understood what I was looking at, but I always love more insight. Especially from someone that doesn't have their own best interest in mind. I've been watching quite a few of your videos. You provide great insight for first time home buyers like myself, thank you for all of your help!
Thank you for this video. I’m a first time buyer and my loan officer is a bad communicator. Your video helped me understand the confusion I had with my Loan Estimate. These videos are VERY helpful! ❤
It is my first time buying a home and there was some questions that kept me up at night. I came here when i needed answers or clarification on things while going through the process!! Thank you for your time and effort
Thanks Kyle you're channel has made me so knowledgeable about loans!!! You're awesome! You do not find lenders like you that are so genuine!!! Cannot thank you enough!!!! Like I said your wicked smart!! 👍😉😊
Thanks so much! I'm glad you enjoyed the video. If you have any questions about the loan estimate or need help with your home buying process, feel free to reach out!
New Loan Officer. I had to go over the Loan Estimate with my borrower and got stuck on Tittle Fees when asked about the "Loan tie-in fee". This was an excellent video.
Such timely content for lots of folks, Kyle, thank you! The walkthrough for single income was especially helpful. Never thought I’d be takin notes on that but the Lord had better plans eh! Lol. Keep it comin! 🤚🏻
This is so funny!!! I just signed this about 2 hours ago. If you're 'cash to close' is less than you expected then the lender hooked you up because my 'cash to close' is $675 =) (i.e. final closing cost included my earnest deposit of $3.8K)
Just signed a contract with a builder. You are so detailed and knowledgeable Thank you for the explanation line by line. I feel more confident now going through this loan process.
Amazing explanation and oh so helpful! I'm closing on my second home and just not realizing that I wasn't fully aware and informed of all the fees in the loan estimate. Thank you for sharing your knowlege!
Thank you for the detailed information. I was so confused about this. Wish closing costs were lower, but with so many people getting a piece of the pie it makes sense why the closing costs can be so high.
This was a GREAT walkthrough. Wish I'd had it when I went through my home purchase 3 years ago. I figured everything out, but it took me a lotttttt of my time. And in between there was great confusion lol.
Loving this channel. Currently doing some financial restructuring and putting away money for a down payment. Looking to purchase in a year. Your videos are incredibly insightful and encouraging.
Thnak you that was very helpful....I got mine jsut now, we are days from Closing, BUT you should explain that if the DOWN PAYMENT is already paid for it will be deducted from the total on the Bottom, also the Earnest Deposit is already paid for ...
Thank you for explaining this. I was going down the list as you were explaining this. I’m currently under contract now as a first time home buyer and it’s very stressful 😩
I'm glad the video was helpful! Buying a home can be stressful, but we're here to guide you through it, so feel free to get pre-approved with us at www.winthehouseyoulove.com/lender for any support you need.
Thank you for clarifying this. We are in the process on a new build & going on a 4th iteration of the loan document. The $$$ were all over the place, 3 vs 2 appraisal fees & charging a Transfer Tax that is Not allowed in my County in NC. I told the loan officer to send me a corrected form that removed the extra appraisal fee, increase the lender credit to offset the transfer tax & that we are identifying our own closing attorney so waiting for updated paperwork. This is so frustrating....
I may be selling my home in one state and buying a condo in a new state and it's been over 20 years since we applied for a mortgage... this info was very clear and easy to understand!
Hey Kim! Thanks for watching and I'm glad the info was helpful to you. Selling a home and buying a new one can be exciting but also a bit overwhelming, especially after a long time since your last mortgage application. If you're ready to start on a pre-qualification for your condo purchase, you can go to www.winthehouseyoulove.com. Let me know if you have any other questions!
Thank goodness I found you!!! I had so many questions and I wanted to truly under y the paperwork that will be used. Thank you so much. You made a worried couple feel so much better with your videos.
Very Informative video. I had so much question and confusion as a first time home buyer before watching this video. I am at ease after watching this video. This video answere all the question that i had. Good job!!!
THANK YOU for doing this video was extremely helpful digesting one of these, as I’m currently under contract as we speak. I was working with a lender who locked down my rate buying down points but didn’t tell me….until I saw the note under Origination Charges. Sad how lenders try to mask these sorts of things with confusing verbiage/terminology.
You can do it! Take Kyle’s advice and interview multiple agents In your area when your ready. I tell clients this isn’t like walking on a car sales lot where you all of a sudden walk out with a car. Get approved, interview agents who best fit you and your needs and start a home search. If you can’t find one that fits don’t feel pressured into a sale at all. If an agent is pushy or their ego is so far up their behind and they don’t make time for you drop them. Everyone is here to help and will explain every step of the way in small bites and pieces. Stay away from anyone who just views you as transaction and go for that family/ friend feel. I wish you well on your journey!
Section A of my closing cost details has changed 4 times since I started working with the lender on your site. 😂😂 looks like I'll be switching lenders now.
Hi! I asked you to email me earlier but haven't heard from you. Section A will change if a loan isn't locked. Please email me so I can look into this kyle@winthehouseyoulove.com
Thank you so much for reviewing the Loan Estimate. I just received an updated version of my Closing Disclosure and will compare it to (1) the Loan Estimate and (2) the First Closing Disclosure. Cash at Closing increased by nearly $1K.
I'm so glad my video helped you understand your loan estimate better! Please let me know if you have any other questions as you move forward with your home purchase. When you're ready, go ahead and schedule a call with our team to get started on your pre-qualification: www.winthehouseyoulove.com/call
Such a great video! I'm currently looking over all my paperwork. Man that interest rate is looking so good right now. We're in the process of closing and currently at 6.85. Hoping the rates drop again
Lots of good info, Ty!! As mortgage loan closer or loan processor most of my adult life over the past 24 years including now - great and important information!! My only criticism, as an inactive real estate agent as well is that your description is slightly inaccurate below in the summary - the LE is required 3 bus days after 'contract' but in your video start you do point out after 'application' or info given by borrowers constituting ' an application' .. may throw some 1st time homebuyers etc that got 'prequalified' and made house offer and went under contract, but still need to give lender info or make 'app' but overall great stuff on the best investment anyone can make for personal wealth building imho - no matter the market buyers/seller's etc Best Long term/retirement investment.
I got the loan estimate before my closing date and before my credit was actually pulled the intrest rate is inaccurate so basically it's a rough estimate
Awesome video Kyle. Keep them coming! Do you have any advise on submitting our loan to underwriting for a TBD approval? One of the lenders I spoke to told me that this type of approval gives me a leg up on any other offers that have just been pre-approved. I just want to make sure that I can still shop around with lenders even if I get the TBD approval from them? Thank you!
Hey Macy! Thank you so much for your kind words and support! I'm really glad you found the video helpful. If you're ready to take the next step and start on a pre-qualification, you can visit www.winthehouseyoulove.com/lender or shoot me an email at kyle@winthehouseyoulove.com. I'm here to help!
Thank you Kyle! Your videos have really helped my wife and I over the past year of saving and paying off debt. We’re looking to buy our first home sometime next year and your videos have given us so much knowledge to pull from as we begin that journey! Wish you nothing but success, as you’ve helped us and so many others!! Love the channel and content!! You rock! 🤘🏻🤘🏻
Good Video. Excellent way to explain the Closing Cost Details. I wonder if which costs/ expenses from this Closing cost would not need to be paid if we are doing a refinance in Orlando, Florida. Thank you for your answer.
Thanks for watching, Marlon! In Orlando, you'd still encounter most of the standard costs, but with a refinance, you might not pay initial escrow fees for taxes/insurance; just note that Florida has an additional refinance tax. If you want to see what refinance offers you might qualify for, check out www.winthehouseyoulove.com/lender.
Thank you for your wonderful educational video as well as thanks to YT algorithm. We're in the process of buying our first home, and this just comes to the right time.
First off thank u for this breakdown really helps a lot. Second my estimated total closing cost is $7,700. My seller credits are $9,451 and adjustments of other credits is $190 and my estimated cash to close is -$1,919. So does this mean I don't need to bring anything tp closing? And I have to come out of pocket for Home Owners Insurance? I did pay a $1,750 Earnest Money Deposit that's not reflected on my estimate and also a $625 appraisal fee. Thank u in advance for any answers.
Great explanations: Question on a new home construction loan where the home may be out 9-12 months before completed, there would not be any loan locks since they don't go out that far? What can be offered to a buyer on a new construction - floating rates only?
Most locks beyond 60 days get very expensive in their up-front costs. Not to mention, if the lock expires it's expensive to extend or pay a relock fee. With new construction most people will float until the completion date is more clear (e.g. 60 days in the future) and then lock. Some lenders will offer things like a 180 day lock.
Excellent breakdown of the loan estimate. So lenders cannot give you a loan estimate after you get pre-approved? They only give you one after you go under contract, right?
Thanks so much for making this video. Exactly what I needed to better understand things. Wish my loan officer would care to explain all of this even a little bit. 😒
Keep coming back to this video while we are closing! For the “service that we can’t shop for”, you mentioned that it can’t be increased significantly, but for service like appraisal fee that getting charged upfront, if any of the services turns out to be less than the estimate, would we get the money back as well?
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
seeing that 3.8% interest rate on this makes my heart cry.
x2
😢
As a loan officer, I have to say, this outlined fantastically! Good work!
Wow, thank you!
@@WinTheHouseYouLove what advice do you have for someone who owns 3.5 acres of land already can it be used to get funding to build
I was going to ask the same . I
Section B, Section C and Section H are areas where the lender can get kickbacks from title company, closing attorney and other people providing the services like courier fee, attorney fee, notary fee, appraisal fee, survey fee. These are overlooked as small things but lenders steer you to preffered providers for a reason. Specially when buying new construction and all these services are in house or provided by the same persons.
Thanks for sharing! It's true, those sections can include fees from preferred vendors, and it's important to look closely at what you're being billed to understand the true costs.
Speaking of synchronicity!! I received my home estimate a few hours earlier and this video just popped up on me out of nowhere. What a godsend! This is my third home purchase and I had never understood before what I learned in 30 min from watching it. Not only you know your stuff, Kyle. On top, you also have a talent to explain it in the clearest and less anxiety-generating way possible. Kudos to you and thank you.
Are you a mind reader? I started applying to lenders over the weekend. Haha, now I can sound like a pro when I talk to them about stuffs 😌
Thank you!
Edit: one of the lenders had my Loan Estimate doc online and I've been following along like a good student. Definitely recommend doing the same for anyone who has a Loan Estimate doc while watching this video 👍👍
If my university professors had half the presentation and communication skills you have I would have been a 4.0 student 🤣🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼
🤣 Thank you!
Just used this document to walk through an initial disclosure. Thanks so much for this! Made the confusion clearer and allowed me to compare what I had been promised verbally with what was written.
Incredible! So glad it was helpful!! We'd love a chance to see if we can beat your quote! www.winthehouseyoulove.com/compare
@@WinTheHouseYouLove I did reach out but had a few details specific to my situation that your team couldn't work around. We just closed right before Christmas. Thanks for your videos and we'll keep you in mind next time, I'll have a full W-2 two years working experience by then.
watching this now, seeing that interest rate comparted to the current ones makes me want to cry as a first time buyer hahah
I just received my loan estimate on my first home purchase today, what a coincident. This helped me quite a bit, I semi-understood what I was looking at, but I always love more insight. Especially from someone that doesn't have their own best interest in mind. I've been watching quite a few of your videos. You provide great insight for first time home buyers like myself, thank you for all of your help!
Thank you for this video. I’m a first time buyer and my loan officer is a bad communicator. Your video helped me understand the confusion I had with my Loan Estimate. These videos are VERY helpful! ❤
This video was very informative. I listened to this 5 times before signing my Initial Loan Estimate
It is my first time buying a home and there was some questions that kept me up at night. I came here when i needed answers or clarification on things while going through the process!! Thank you for your time and effort
I just got my license as an MLO
I can’t appreciate enough this type of full demo and referenced content
Thank you 😇🙏
Glad to help!
Thanks Kyle you're channel has made me so knowledgeable about loans!!! You're awesome! You do not find lenders like you that are so genuine!!! Cannot thank you enough!!!! Like I said your wicked smart!! 👍😉😊
I’m almost on the home stretch…this info is GOLDEN
You are very gifted. Great job young man!
Thanks so much! I'm glad you enjoyed the video. If you have any questions about the loan estimate or need help with your home buying process, feel free to reach out!
This is the best video I have seen on the loan estimate.
New Loan Officer. I had to go over the Loan Estimate with my borrower and got stuck on Tittle Fees when asked about the "Loan tie-in fee". This was an excellent video.
Such timely content for lots of folks, Kyle, thank you! The walkthrough for single income was especially helpful. Never thought I’d be takin notes on that but the Lord had better plans eh! Lol. Keep it comin! 🤚🏻
This is so funny!!! I just signed this about 2 hours ago. If you're 'cash to close' is less than you expected then the lender hooked you up because my 'cash to close' is $675 =) (i.e. final closing cost included my earnest deposit of $3.8K)
Just signed a contract with a builder. You are so detailed and knowledgeable
Thank you for the explanation line by line. I feel more confident now going through this loan process.
Fantastic! Best of luck!
Great video! Followed this line by line with my loan estimates and now I can really compare with confidence.
Your mic is tuned to perfection!
Thanks! Great information 👍🏾
Thanks so much!
Watching this video after getting my first loan estimate! Thank you!
Amazing explanation and oh so helpful! I'm closing on my second home and just not realizing that I wasn't fully aware and informed of all the fees in the loan estimate. Thank you for sharing your knowlege!
Thank you so much for watching!! :)
Thank you for the detailed information. I was so confused about this. Wish closing costs were lower, but with so many people getting a piece of the pie it makes sense why the closing costs can be so high.
You shouldn’t be getting a loan if you can’t afford a simple closing cost 😂
Thanks!
Thanks so much!
This is exactly what I was trying to understand and then this video popped up, thanks!
This was a GREAT walkthrough. Wish I'd had it when I went through my home purchase 3 years ago. I figured everything out, but it took me a lotttttt of my time. And in between there was great confusion lol.
Thank you for breaking it down, I feel less intimidated. This was helpful!
I'm so glad to hear it, Shelly! If you have any other questions as you go through the home buying process, feel free to reach out. 😊
Loving this channel. Currently doing some financial restructuring and putting away money for a down payment. Looking to purchase in a year. Your videos are incredibly insightful and encouraging.
Thank you very much!
I received my loan estimate today and this made everything SO clear! Thank you!!! 😊
Glad it helped!
Thank you so much for this thorough and not over complicated explanation video!!
Thnak you that was very helpful....I got mine jsut now, we are days from Closing, BUT you should explain that if the DOWN PAYMENT is already paid for it will be deducted from the total on the Bottom, also the Earnest Deposit is already paid for ...
Thank you for the video. It's very very helpful and easy to follow.
I just recorded a personal video reply for you: vid.us/deifio
Another awesome breakdown video! Keep them coming!
Thank you for explaining this. I was going down the list as you were explaining this. I’m currently under contract now as a first time home buyer and it’s very stressful 😩
I'm glad the video was helpful! Buying a home can be stressful, but we're here to guide you through it, so feel free to get pre-approved with us at www.winthehouseyoulove.com/lender for any support you need.
This video is amazingly helpful! This is a must for literally anyone going through the home buying process for the first time or the fifth time!
Thanks for watching!
Thank you for clarifying this. We are in the process on a new build & going on a 4th iteration of the loan document. The $$$ were all over the place, 3 vs 2 appraisal fees & charging a Transfer Tax that is Not allowed in my County in NC. I told the loan officer to send me a corrected form that removed the extra appraisal fee, increase the lender credit to offset the transfer tax & that we are identifying our own closing attorney so waiting for updated paperwork. This is so frustrating....
I may be selling my home in one state and buying a condo in a new state and it's been over 20 years since we applied for a mortgage... this info was very clear and easy to understand!
Hey Kim! Thanks for watching and I'm glad the info was helpful to you. Selling a home and buying a new one can be exciting but also a bit overwhelming, especially after a long time since your last mortgage application. If you're ready to start on a pre-qualification for your condo purchase, you can go to www.winthehouseyoulove.com. Let me know if you have any other questions!
Thank goodness I found you!!! I had so many questions and I wanted to truly under y the paperwork that will be used. Thank you so much. You made a worried couple feel so much better with your videos.
Thank you so much for watching!
Kyle, I used your site and found a wonderful loan officer at Alcova in South Carolina, he is such a teacher and so positive. Thanks!
Thank you! Thank you! Thank you because I was going to pull my lenders hair out. I received one in Feb and 2 in March.
Thank you sooo much ❤️ First tome homebuyer here. I can watch this video with my husband because he doesn't understand why the price keeps changing.
Wonderful! Thanks for watching. :)
Very Informative video. I had so much question and confusion as a first time home buyer before watching this video. I am at ease after watching this video. This video answere all the question that i had. Good job!!!
Great to hear! Thanks for watching. :)
Locked in at 2.875 today. No point buy down. Was offered 2.750 or .125 reduction for $2000
This was unbelievably helpful. Thanks a million!
Glad it was helpful! Thanks for watching. :)
Nice explanation on loan estimates.Thank you. This should enjoy more views
THANK YOU for doing this video was extremely helpful digesting one of these, as I’m currently under contract as we speak. I was working with a lender who locked down my rate buying down points but didn’t tell me….until I saw the note under Origination Charges. Sad how lenders try to mask these sorts of things with confusing verbiage/terminology.
Glad it was helpful!
Great info as always!! Wish home buying wasn’t such a hassle 🥲
You can do it! Take Kyle’s advice and interview multiple agents In your area when your ready. I tell clients this isn’t like walking on a car sales lot where you all of a sudden walk out with a car. Get approved, interview agents who best fit you and your needs and start a home search. If you can’t find one that fits don’t feel pressured into a sale at all. If an agent is pushy or their ego is so far up their behind and they don’t make time for you drop them. Everyone is here to help and will explain every step of the way in small bites and pieces. Stay away from anyone who just views you as transaction and go for that family/ friend feel. I wish you well on your journey!
It’s the most expensive thing you will ever purchase, of course it will be a hassle! 😅
Liked! Wow, that was very informative. Great work!!
Much appreciated! Thank you for watching. :)
Section A of my closing cost details has changed 4 times since I started working with the lender on your site. 😂😂 looks like I'll be switching lenders now.
Hi! I asked you to email me earlier but haven't heard from you.
Section A will change if a loan isn't locked.
Please email me so I can look into this kyle@winthehouseyoulove.com
This is informative and helpful. I appreciate you breaking this down line by line. Thank you. 🤔❤🇺🇸
Thank you so much for reviewing the Loan Estimate. I just received an updated version of my Closing Disclosure and will compare it to (1) the Loan Estimate and (2) the First Closing Disclosure. Cash at Closing increased by nearly $1K.
Woof, that's not good!
This was awesome! Thanks for the clear explanation! Helps so much. Cheers!
Thanks for watching! Cheers!
Thanks a bunch for sharing. It feels like we're all gonna need our own personal attorney in order to purchase a home.
Best of luck and thanks for watching!
Such a fantastic review. Thank you!
Thank you for that break down of the loan estimate. Good information.👌🏽😁
Glad it was helpful!
This is an awesome video. I really appreciate all your content and how you just get to the point with the details
I appreciate that! Thanks!
Great video Kyle! When would you suggest is the best time to place your title order when you shop for a title company on your own?
Amazing job at explaining this process clearly and effectively! Do you mind if I ad this video to one of my playlists?
You sure can!
@@WinTheHouseYouLove thank you!
Awesome explanation.. thanks much for the breakdown!.😎
No problem 👍
thank you for reviewing this information
Thanks for watching. :)
I just used this as a guideline for my loan estimate thank you !!!!
I'm so glad my video helped you understand your loan estimate better! Please let me know if you have any other questions as you move forward with your home purchase.
When you're ready, go ahead and schedule a call with our team to get started on your pre-qualification: www.winthehouseyoulove.com/call
Such a great video! I'm currently looking over all my paperwork. Man that interest rate is looking so good right now. We're in the process of closing and currently at 6.85. Hoping the rates drop again
Best of luck!
Lots of good info, Ty!! As mortgage loan closer or loan processor most of my adult life over the past 24 years including now - great and important information!! My only criticism, as an inactive real estate agent as well is that your description is slightly inaccurate below in the summary - the LE is required 3 bus days after 'contract' but in your video start you do point out after 'application' or info given by borrowers constituting ' an application' .. may throw some 1st time homebuyers etc that got 'prequalified' and made house offer and went under contract, but still need to give lender info or make 'app' but overall great stuff on the best investment anyone can make for personal wealth building imho - no matter the market buyers/seller's etc Best Long term/retirement investment.
Thanks, I'll clarify that :)
I got the loan estimate before my closing date and before my credit was actually pulled the intrest rate is inaccurate so basically it's a rough estimate
This really educate me for my future home purchase. I was naive the first time. Thanks so much!
You are so welcome! Best of luck!
All your videos are very helpful! Are you by any chance planning on putting together a video for CD, Closing Disclosure, explained?
Thanks! Ooh, yes it's on my list :)
Thank you, very detailed and easy to understand. 😊
You’re welcome 😊
Awesome video Kyle. Keep them coming! Do you have any advise on submitting our loan to underwriting for a TBD approval? One of the lenders I spoke to told me that this type of approval gives me a leg up on any other offers that have just been pre-approved. I just want to make sure that I can still shop around with lenders even if I get the TBD approval from them? Thank you!
Great overview, thank you so much for this video!!
Hey Macy! Thank you so much for your kind words and support! I'm really glad you found the video helpful. If you're ready to take the next step and start on a pre-qualification, you can visit www.winthehouseyoulove.com/lender or shoot me an email at kyle@winthehouseyoulove.com. I'm here to help!
How many days before closing should you receive the closing disclosure?
3
Thanks for this video much appreciated!
Glad it was helpful!
Amazing video!!! really and truly insightful.
I really learned a lot, thank you.
Glad it was helpful!
This was so helpful! Thank you!
Thank you sue very helpful I really enjoy all your videos very informational keep making them videos
Glad you like them! Thanks for watching. :)
Thank you Kyle! Your videos have really helped my wife and I over the past year of saving and paying off debt. We’re looking to buy our first home sometime next year and your videos have given us so much knowledge to pull from as we begin that journey! Wish you nothing but success, as you’ve helped us and so many others!! Love the channel and content!! You rock! 🤘🏻🤘🏻
Thank you for explaining this. Crazy to see how my cash to close is 132,422 I'm just confused how I'm supposed to bring this
Wow! Best of luck!
@@WinTheHouseYouLove lol right it's half of what the loan is
What if my estimate has a smaller downpayment than the 3.5 minimum?
can you get this loan estimate prior to being on contract? I don't want to commit to anything until i can shop around and compare lenders offers
I just received this today. Thank you!
Good Video. Excellent way to explain the Closing Cost Details. I wonder if which costs/ expenses from this Closing cost would not need to be paid if we are doing a refinance in Orlando, Florida. Thank you for your answer.
Thanks for watching, Marlon! In Orlando, you'd still encounter most of the standard costs, but with a refinance, you might not pay initial escrow fees for taxes/insurance; just note that Florida has an additional refinance tax. If you want to see what refinance offers you might qualify for, check out www.winthehouseyoulove.com/lender.
signed my contract few days and going through my loan estimate as I watch this.
Best of luck!
Thank you for your wonderful educational video as well as thanks to YT algorithm. We're in the process of buying our first home, and this just comes to the right time.
Good information . Thanks!
Glad it was helpful!
When I compare this documents with the one that I just received yesterday, with these crazy interest rates and I just want to cry 😭
This was extremely informative and helpful
Glad you think so!
Will you get a loan estimate if you don't have a property picked out yet.
🔥🔥🔥 shirt! Let me know when you got it from. And as always, great content!
Thanks! It's from Suitsupply
First off thank u for this breakdown really helps a lot. Second my estimated total closing cost is $7,700. My seller credits are $9,451 and adjustments of other credits is $190 and my estimated cash to close is -$1,919. So does this mean I don't need to bring anything tp closing? And I have to come out of pocket for Home Owners Insurance? I did pay a $1,750 Earnest Money Deposit that's not reflected on my estimate and also a $625 appraisal fee. Thank u in advance for any answers.
How did it go? Did u get $ back? 😅
Great explanations: Question on a new home construction loan where the home may be out 9-12 months before completed, there would not be any loan locks since they don't go out that far? What can be offered to a buyer on a new construction - floating rates only?
Most locks beyond 60 days get very expensive in their up-front costs. Not to mention, if the lock expires it's expensive to extend or pay a relock fee. With new construction most people will float until the completion date is more clear (e.g. 60 days in the future) and then lock.
Some lenders will offer things like a 180 day lock.
I got my initial loan disclosure today so that means I get my official closing disclosure on Tuesday?
Excellent breakdown of the loan estimate. So lenders cannot give you a loan estimate after you get pre-approved? They only give you one after you go under contract, right?
Thanks much for this video and explanation, appreciate it!!!
Glad it was helpful! Thanks for watching. :)
For origination fee and points. Can you decide not to do point even if lender recommends them???
I just recorded a personal video reply for you: vid.us/69s9w3
Can loan estimate go down ? Is the loan estimate based on the pre approval credit run. They run it again right?
Yes it can
Is it good to accept Interest rates that INCLUDE points or better off with par Interest rate quoted and listed on loan pre-approval
Thanks so much for making this video. Exactly what I needed to better understand things. Wish my loan officer would care to explain all of this even a little bit. 😒
Thank you so much for watching!! :)
Keep coming back to this video while we are closing!
For the “service that we can’t shop for”, you mentioned that it can’t be increased significantly, but for service like appraisal fee that getting charged upfront, if any of the services turns out to be less than the estimate, would we get the money back as well?