Mortgage Secrets: Pay Less Fees and Interest
Рет қаралды 75,070
Күн бұрынWant to pay less fees and interest? I have a few tricks that I use as a loan officer to help my clients save money... here they are!
🎧 Listen To The Podcast
plinkhq.com/i/1493715474
00:00 Intro
0:15 Underwriting fees and points
1:43 How to watch for point stuffing
3:26 Should you waive escrows?
4:31 Credit score brackets to get the best rate
5:58 How your down payment affects your rate
7:28 How banks charge more money
8:58 How marketing ruined mortgage shopping
10:37 An easy way to save money through the date you close
11:31 The #1 thing you need from a lender
13:30 Do you need an escrow account?
RELATED VIDEOS
1) Mortgage Escrow Explained - Do You Need It?
• Mortgage Escrow Explai...
2) 9 Ways To Avoid Closing Costs When Buying A Home
• 9 Ways To Avoid Closin...
3) The Complete Guide To Home Buying Closing Costs
• The Complete Guide To ...
4) Who Pays Closing Costs? Buyer Or Seller?
• Who Pays Closing Costs...
5) Who Pays Realtor Fees?
• Who Pays Realtor Fees?
Hey, my name is Kyle and I'm a Loan Advisor serving Tennessee, Florida, and Ohio. I help you get a crystal-clear home loan so you can win the house you love.
www.winthehouseyoulove.com/
-- Legal --
NMLS# 1701021
Motto Mortgage Alliance
www.winthehouseyoulove.com/
8900 N. Dixie Dr.
Dayton, OH 45414
Equal Housing Opportunity
@WinTheHouseYouLove 4 жыл бұрын
Timestamps! 0:15 Underwriting fees and points 1:43 How to watch for point stuffing 3:26 Should you waive escrows? 4:31 Credit score brackets to get the best rate 5:58 How your down payment affects your rate 7:28 How banks charge more money 8:58 How marketing ruined mortgage shopping 10:37 An easy way to save money through the date you close 11:31 The #1 thing you need from a lender 13:30 Do you need an escrow account?
@WinTheHouseYouLove 4 жыл бұрын
🎧 Listen To The Podcast plinkhq.com/i/1493715474 💰 7 Proven Ways To Save Thousands On Your Home www.winthehouseyoulove.com/free
@bettysmith7045 4 жыл бұрын
Just refinanced and all fo this is true! One bank was trying to charge me points (even though my credit score is over 750) and extra fees, a total of 3K over the other bank, AND the rate was 3.35%. The other bank had 3K less in fees, got rid of my PMI because I met the 80% after appraisal, and my rate is 3.125% (no points)! Shop around, because as this guy said banks will try and rip you off, the first loan was through my credit union too!
@WinTheHouseYouLove 4 жыл бұрын
Great insight!
@BlessedVivi 3 жыл бұрын
My credit union offended me
@MrDerekRobinson 3 жыл бұрын
I'd say you're being ripped off paying well over 150k all because you decided to borrow 200k. The whole system is rigged. I'd rather pay cash for a house. Perfect credit just to rip you off. More like Perfect candidate to reliably make money off of
@isarownie6073 2 жыл бұрын
@@MrDerekRobinson best comment 👌 facts
@aquileggleston84 4 жыл бұрын
I watch almost all of your videos. You sound very well and have a easy listen voice! you articulate very well and you make things very easy to understand. I really like these videos!
@WinTheHouseYouLove 4 жыл бұрын
Thanks so much!!
@sarahlo4661 3 жыл бұрын
I thought the same thing. His voice is calming.
@joshuacargill707 2 жыл бұрын
I understand bro I love his voice lol
@albertvasquez6207 3 жыл бұрын
Absolute star in your field! Heart of gold. That you sir!
@WinTheHouseYouLove 3 жыл бұрын
Wow, thank you!
@jellyrcw12 4 жыл бұрын
Your videos are SO useful! I wish every homebuyer watched just 3 of your videos and they would come out way ahead. I will definitely ask future lenders to show me the different rates for different down payments. Great advice!
@WinTheHouseYouLove 4 жыл бұрын
Thank you SO much!
@mojojoje 4 жыл бұрын
Hands down this is the best video I've seen in this subject. You just win a subscriber.
@WinTheHouseYouLove 4 жыл бұрын
Thank you so much for the kind comment!! Glad it was helpful :)
@aristonelouxz5677 4 жыл бұрын
This video and your whole page is probably the most clear and helpful videos on YT about Loans & mortgages. I appreciate all the work you put in and honesty!
@WinTheHouseYouLove 4 жыл бұрын
That’s so kind of you!!! Thank you so much for watching :)
@princesspapi9000 3 жыл бұрын
Absolutely loving how clearly you communicate the info and the included timestamps are amazing!!!!
@WinTheHouseYouLove 3 жыл бұрын
Thanks so much! I'm glad you like the videos!
@TT-vs2ti 23 күн бұрын
I love your content on mortgage loans and you have such a soothing voice! Sometimes, I fall asleep listening to it (not in a bad way).
@RupertTheDeer 4 жыл бұрын
I had no clue smaller loans were actually riskier for lenders... And I've definitely had tunnel vision re: interest rates, so this was, as usual, very informative!
@WinTheHouseYouLove 4 жыл бұрын
Glad I was able to sneak something new in there!
@monarchbutterfly3154 3 жыл бұрын
I just learned this too! I've been saving to do 50% down!
@mattalber 3 жыл бұрын
Wow, thanks a million Kyle! Just stumbled onto your channel- considering a first time home purchase and this was very helpful!
@WinTheHouseYouLove 3 жыл бұрын
Thank you so much! I'm glad it was helpful!!
@jeffreybrooks3004 3 жыл бұрын
Glad i came upon your channel. Thanks for your service.
@WinTheHouseYouLove 3 жыл бұрын
Thank you so much for watching!! :)
@keonnarobinson6110 3 жыл бұрын
This was such great info!! One of your best! Thank you for all you do.
@WinTheHouseYouLove 3 жыл бұрын
Glad you enjoyed it!
@miguelangel2928 3 жыл бұрын
Thank you so much, love your content
@vanessabarragan680 4 жыл бұрын
New to your channel, just subscribed! Wow super detailed. Taking notes! Thank you!!!
@WinTheHouseYouLove 4 жыл бұрын
Awesome! Thank you!
@m.harrison239 3 жыл бұрын
This is amazing! I just learned so much. We are buying a house and were going to go with a Bank because we thought that would be the best. Instead, our real estate agent recommended to talk to a Broker. Nice to know that a Broker doesn't cost us money. Didn't know about the down payment and % correlation. Really appreciate all this info. and the way you do it is extremely helpful!
@WinTheHouseYouLove 3 жыл бұрын
I'm so glad to hear!! Thanks for watching :)
@biancalord488 3 жыл бұрын
Thank you for this information! You are a Godsend!
@WinTheHouseYouLove 3 жыл бұрын
Happy to help!
@georgebaltakianrealestate4189 3 жыл бұрын
So much value, thank you!
@WinTheHouseYouLove 3 жыл бұрын
Thanks!
@jellyrcw12 4 жыл бұрын
And typing notes is definitely easier to follow!
@WinTheHouseYouLove 4 жыл бұрын
Great!!
@Marketplacere 2 жыл бұрын
Thank you very much for taking the time to go through all steps very insightful.
@WinTheHouseYouLove 2 жыл бұрын
Glad you enjoyed it!
@BananaMilkCottage 2 жыл бұрын
Fantastic, thank you for this advice
@WinTheHouseYouLove 2 жыл бұрын
My pleasure!
@khushbupatel1465 2 жыл бұрын
Brilliantly explained!!
@WinTheHouseYouLove 2 жыл бұрын
Glad you think so! Thanks for watching. :)
@vicbgm1 4 жыл бұрын
I love your tone of voice and how you explain everything so simple! I wish you served in the Atlanta area 😩
@WinTheHouseYouLove 4 жыл бұрын
Thank you so much!!
@latracedrummond-felder6415 3 жыл бұрын
Exactly! Please consider getting licensed in Georgia.. we need u.. if u ever have an in person seminar I would definitely come! I feel so informed since I’ve started watching your videos.. thank u!
@Masdo2012 3 жыл бұрын
Thank you, thank you!!!! I just bought mine at 2.75 fixed interest rate!
@WinTheHouseYouLove 3 жыл бұрын
Congrats!!!
@trinhtmai 4 жыл бұрын
Hi! New follower here! I’m a realtor and love your videos!
@WinTheHouseYouLove 4 жыл бұрын
Awesome! Thank you!
@jannycal Жыл бұрын
Kyle, I wish I found you before. But definitely will contact you for my next deal. I love how you explain everything in detail and so transparent.
@WinTheHouseYouLove Жыл бұрын
Awesome! Thank you!
@alexalvarez7435 4 жыл бұрын
great video!
@WinTheHouseYouLove 4 жыл бұрын
Thanks!
@biblegirl2980 3 жыл бұрын
I’m working with Quicken Loans and he ‘s right. I asked them to bring down the origination cost or points which are 4,000. They brought it down by $700.00. Total closing $6500
@WinTheHouseYouLove 3 жыл бұрын
Thanks for sharing :)
@gr8ride411 4 жыл бұрын
I enjoy your videos a lot, very informative👍🏽 Do these apply to refinancing as well?
@WinTheHouseYouLove 4 жыл бұрын
Yes it does!
@michaelbrook3282 2 жыл бұрын
Really helpful.
@WinTheHouseYouLove 2 жыл бұрын
Glad to hear! Thanks for watching. :)
@T_A_K_8_6 2 жыл бұрын
Keep up the great work brother! Love the content. The Mrs and I are closing in 3 weeks and you have helped us first timers learn so much. Would you mind doing a video on Jumbo Loans Products?
@WinTheHouseYouLove 2 жыл бұрын
Thanks! Great suggestion!! I've been hearing more and more about them recently, so I will add it to my video ideas list :)
@WinTheHouseYouLove 2 жыл бұрын
Thanks! Great suggestion!! I've been hearing more and more about them recently, so I will add it to my video ideas list :)
@kaiyad6407 2 жыл бұрын
Thank you so much for your videos. I did not know that I can waive escrow. My closing cost was estimated 19000 but when I had to lock my rate closing cost showed 25000 with escrow. Thank you again
@WinTheHouseYouLove 2 жыл бұрын
Wow! Thanks for watching!
@jannycal Жыл бұрын
Kyle, I really don't understand why interest rate is not a cost? Could you maybe do another video with a detailed explanation with calculations etc?
@Cesar-ge4hz 3 жыл бұрын
1st time buyer here: Great video by the way! Ive been approved by a lender and currently looking for a house. When do you actually shop mortgage deals with a Lender/Broker? When you have a contract in place or in the beginning when you're just starting to look at houses/now that I've been approved? Just learned that I need to shop a Broker too, great content, very helpful. Thank you!!
@WinTheHouseYouLove 3 жыл бұрын
Ideally before you go under contract
@Xoxocent 3 жыл бұрын
Good stuff
@WinTheHouseYouLove 3 жыл бұрын
Glad you enjoyed!
@chinnid5671 3 жыл бұрын
Hi Kyle , I just love ❤️ how explain things , could you explain in detail , what is point stuffing?
@WinTheHouseYouLove 3 жыл бұрын
Thanks for watching! Point stuffing is when a lender adds up front costs to lower the rate.
@chinnid5671 3 жыл бұрын
Thank you for quick reply , can I have your phone number that you shared on the other video the other day?
@billbigsby7463 2 жыл бұрын
Can you wave prepaid and escrows with the VA loan?
@James-id5xq 3 жыл бұрын
Beautiful guitar there, is that a Taylor? I have an Alvarez Dreadnought and noodle around with bluegrass flatpicking
@WinTheHouseYouLove 3 жыл бұрын
Thanks! Yep, a Taylor 210. I don't have an Alvarez, but they're such good guitars!!
@bigworm3886 3 жыл бұрын
The down payment section about smaller loans being more expensive blew my mind.
@WinTheHouseYouLove 3 жыл бұрын
It's wild! So many little rules in the mortgage world that can make big differences!
@chrispena4119 Жыл бұрын
What does it mean if a lender says Par rates arent available?
@faafeaimulitalo8962 2 жыл бұрын
What is the good company to go for refinance our home ?
@vettriley675 3 жыл бұрын
I just wrote on one of your other pages, The question I have now is the rates are like 2% plus and maybe a little higher, Do you still recommend going up a little higher on the rate to save money when refinancing. I love your content.
@WinTheHouseYouLove 3 жыл бұрын
If it works for your situation then yes :)
@021081023 3 жыл бұрын
Tom Hiddleson of Realtor!!!
@WinTheHouseYouLove 3 жыл бұрын
Haha
@stephenmacknik3212 3 жыл бұрын
Kyle, doesn’t the APR act as a total cost analysis as it combines the effective cost of all fees and the rate over the lifetime of the loan? So we should compare APR’s over rate and that’s the same as total cost analysis?
@WinTheHouseYouLove 3 жыл бұрын
Excellent question! The APR would indeed function in a similar way to a total cost analysis with one big flaw: it won't show you the trend through the years. The APR will only really tell you the total cost at the end of the loan. Loans have different "momentums" of their cost through the years. e.g. Loan A might be cheaper in years 1-8 and Loan B might be cheaper in years 8 - 30. So, something like a total cost analysis can help you analyse the timeframes that result in the best choice since most people don't hold on to one specific loan until maturity.
@cohenmarioman 3 жыл бұрын
Main issue I see with taking a higher rate to get a lower cash at close is in the future either interest rates may go up or you may be in a different financial situation and can’t refi to the lower rate. For example a spouse who had income included now isn’t working (kids, whatever) and won’t bring income to the table.
@WinTheHouseYouLove 3 жыл бұрын
Thank you for sharing your perspective.
@wacieni Жыл бұрын
To all the audophilles, that is a high quality audio, did you hear the echo when he accidentally hit the mike at @1:13 . Good Work 👌👌
@WinTheHouseYouLove Жыл бұрын
It's because there is a spring on the mic stand that is vibrating haha
@ismeisme6441 2 жыл бұрын
Hi Kyle, you have heard probably over millions of times, you are THE BEST!! Do you do Florida loans? Need to make decision now. Can you let me know ASAP.? Thanks!
@WinTheHouseYouLove 2 жыл бұрын
Thanks!! I can connect you with a loan officer our team who can help in Florida: www.winthehouseyoulove.com/
@ismeisme6441 2 жыл бұрын
@@WinTheHouseYouLove Thank you much. How do I reach out to you privately for me email info?
@johnnie674 4 жыл бұрын
Hi, what software or website are you using to show your ipad on the screen along side you while you are speaking?
@WinTheHouseYouLove 4 жыл бұрын
Johnnie Owens I just screenrecord the iPad and overlay it on the video in Final Cut Pro X
@benjaminprice3219 3 жыл бұрын
Loved this. Low cost ?? If currently approved for 2.85% with 3% down, its about $10k to close it up... should it utilize your strategy to ask for a higher rate then refinance in a month or two? Is that even possible?
@WinTheHouseYouLove 3 жыл бұрын
Thanks! I doubt a refinance that quickly would provide you with enough savings to offset the cost.
@TiffanyWebster 3 жыл бұрын
what software do use use for your videos? - (I'm a realtor. Love your channel)
@WinTheHouseYouLove 3 жыл бұрын
Thanks! I use Final Cut Pro :)
@mr.f6215 3 жыл бұрын
Great video. I just didn't understand the "focus on low costs" part. If anybody could explain it a bit, I would greatly appreciate it.
@WinTheHouseYouLove 3 жыл бұрын
Low closing costs from the lender
@mr.f6215 3 жыл бұрын
@@WinTheHouseYouLove Thank you, Kyle. I wish you lots of success in all your endeavors, and thank you for such great content.
@patricianavarro6645 2 жыл бұрын
Can I contact you for a refi on investment home and loan on a new primary residence in Florida. My investment home has a VA loan at 3.625% with 111,713 loan remaining
@andrewesquivel5442 3 жыл бұрын
but when you refinance to that lower rate, there are closing costs again no? so that strategy doesnt make sense to me. The getting a higher rate now for credits
@WinTheHouseYouLove 3 жыл бұрын
Yes, but minimal. The benefits almost always outweigh the costs.
@texiediamond4693 2 жыл бұрын
Hi, I'm trying to refinance my house. One company wants me to refinance back to an FHA cash out and took out an higher interest rate of 4.725 with a $2500 closing costs & the appraisal is included in the mortgage. While the other company offer me a conventional cash out with a 4.125 with a $10 closing costs. However, I'm planning on doing another refi in 6 months to get a better interest rate. Which company should I go with? Help!
@WinTheHouseYouLove 2 жыл бұрын
It depends to you but for me I'd get the lower interest. :) best of luck!
@mzsolsol1461 3 жыл бұрын
Can you pay the Closing Cost and Point upfront all cash?.
@WinTheHouseYouLove 3 жыл бұрын
Yep!
@Theo-B 3 жыл бұрын
What are the interest rate brackets?
@WinTheHouseYouLove 3 жыл бұрын
It's will always depend on the program you choose. Thanks for watching!
@naysanazadilived 3 жыл бұрын
Hi everyone Morgage loan State, Utah Year, 30 years fixed Rate, 2.779 Is it a good deal
@WinTheHouseYouLove 3 жыл бұрын
Looks good to me
@jk6343 3 жыл бұрын
what software do you use to record your videos?
@WinTheHouseYouLove 3 жыл бұрын
Final Cut Pro
@jk6343 3 жыл бұрын
@@WinTheHouseYouLove I have it to, and Adobe premiere Pro just haven’t taken the time to learn it.
@mariamonicavega8890 3 жыл бұрын
What do you mean in broker ?
@WinTheHouseYouLove 3 жыл бұрын
A broker is a type of loan officer
@karpisoganyan 4 жыл бұрын
You put less down to get a lower rate but you end up having monthly mortgage premium. How does that makes sense? Also, if you are financing a higher loan amount when you do less down, so you're paying more interest in the life of the loan
@WinTheHouseYouLove 4 жыл бұрын
You put the remainder on the 1st payment and then MI falls off.
@karpisoganyan 4 жыл бұрын
@@WinTheHouseYouLove you have to be at 78% for mi to fall off, if you were going to do 20 down, you have to bring 2% more. Better option would be put that 15% into improving the property, like adding a ADU, it creates value, you can rent it out and call your lender to do a appraisal and remove mi
@hramtekkar 2 жыл бұрын
how to do real cost analysis?
@WinTheHouseYouLove 2 жыл бұрын
Hi! You can check out this video. kzfaq.info/get/bejne/erucrNaFy9i6fY0.html
@NigerianBeautyQueen 3 жыл бұрын
I don't think you explained that when you refinance, you will pay closing fees that may be the equivalent of what you saved by going up to a higher interest rate to save some money.
@WinTheHouseYouLove 3 жыл бұрын
You certainly need to find the breakeven of a refinance
@wanstopcares 3 жыл бұрын
Is it cheaper to refinance with your lender
@WinTheHouseYouLove 3 жыл бұрын
It's possible they will offer discounts to keep you. Always worth shopping to see multiple offers
@oscarballesteros1065 2 жыл бұрын
Can you help not get scam
@lupitam85 3 жыл бұрын
What education do you need to become a broker?
@WinTheHouseYouLove 3 жыл бұрын
Hi! You will be taking the state-approved real estate sales course then pass the licensure, then take the real estate broker course... then pass the licensure. :)
@PhiferCooksJR1 3 жыл бұрын
Are you licensed in Tennessee?
@WinTheHouseYouLove 3 жыл бұрын
Our team is, text #apply to 937-358-6542 and I can connect you
@reyessuarez4978 3 жыл бұрын
What state you are?
@WinTheHouseYouLove 3 жыл бұрын
I'm in Ohio
@mandypdx 2 жыл бұрын
Is it true that brokers can’t re-cast loans like big banks can?
@WinTheHouseYouLove 2 жыл бұрын
You'd just recast your loan with the lender the broker placed you in. There is no difference. You don't need a loan officer to re-cast.
@mandypdx 2 жыл бұрын
@@WinTheHouseYouLove do all your lenders recast?
@kimberlybrown6153 2 жыл бұрын
I wish I could take you with me when I go through the process. Lol.
@WinTheHouseYouLove 2 жыл бұрын
😂 I can't fit your pocket. Thanks for watching!
@alwaysAWorld 4 жыл бұрын
I wish you worked in Maryland :(
@WinTheHouseYouLove 4 жыл бұрын
Me too!
@ezeamadi5151 4 жыл бұрын
always A.World I wished he did too..wise lender that positions the buyer correctly!!!This does not always happen, cmon take the test !! Lol
@WinTheHouseYouLove 4 жыл бұрын
Haha my company only allows me to be licensed in 3 states currently :(
@ICoulntThinkofAUserNam547 4 жыл бұрын
downpayment stuff was good
@WinTheHouseYouLove 4 жыл бұрын
Glad you found it helpful!
@flashbang217 3 жыл бұрын
I wanted to waive escrow but my servicer told me there is a 0.25% fee to do so.
@WinTheHouseYouLove 3 жыл бұрын
Some lenders charge to waive it
@shelliej3503 2 жыл бұрын
Waiving escrow is not a good idea for Texas residents property tax that is why we don't have a state tax they make it up with property tax
@rdbeaz 3 жыл бұрын
Costco mortgage?
@WinTheHouseYouLove 3 жыл бұрын
I'm not too familiar with them
@tracyevje28 3 жыл бұрын
It has been my experience that the borrower saves .25% on the interest rate when they opt For impounds.....
@WinTheHouseYouLove 3 жыл бұрын
With some lenders it's possible! All the lenders I work with do not charge a fee for waiving escrows.
@JesusTorres-xw4fx 3 жыл бұрын
I’d be extremely happy if you helped me refinance my current FHA Loan into a Conventional Loan.
@WinTheHouseYouLove 3 жыл бұрын
You can text me at 937-358-6542 and I can connect you with a loan officer
@celpower 2 жыл бұрын
Despite having a credit score over 800 I was told by my lender that I HAD to escrow taxes otherwise i would have to pay a higher rate. I also had to pay half a point to get the rate i thought I was going to get to begin with. I know rates went up slightly (2.88%) but when I locked my rate it was 2.75% and then when it was time to process the docs I learned I had to pay a half a point to actually get that. I felt a bit robbed. And I am putting 20% down. This person said they had various lenders to shop from.
@WinTheHouseYouLove 2 жыл бұрын
That's frustrating! Some lenders do charge a waiver fee. Most that I've worked with don't
@RAG718 3 жыл бұрын
wow. didnt know u could waive escrow services , interesting...
@WinTheHouseYouLove 3 жыл бұрын
For sure!
@nazifahmutesi578 4 жыл бұрын
Can i work with you. I would love 2 plz
@WinTheHouseYouLove 4 жыл бұрын
Sure thing, head over to www.winthehouseyoulove.com/ to start an application or schedule a call
@shsu7426 3 жыл бұрын
Could you please recommend a honest, experienced and competent mortgage broker who knows the Center City Philadelphia market? I am learning so much from this video. Thank you, Kyle!
@WinTheHouseYouLove 3 жыл бұрын
Thanks for watching! I have a link on my homepage www.winthehouseyoulove.com/
@julian-H47 3 жыл бұрын
too many damn ads
@WinTheHouseYouLove 3 жыл бұрын
Sorry, but they help me have time to put out all this info for free. It's either ads, or I don't make more videos because I need to put food on the table 💁♀️
@chinnid5671 3 жыл бұрын
Don’t worry Kayle , it is worth to watch the ads to hear your soothing voice with very good information
Win The House You Love
Рет қаралды 23 М.
Win The House You Love
Рет қаралды 107 М.
Khabar SPORT
Рет қаралды 294 М.
💀Skeleton Ninja🥷【にんげんっていいなチャンネル】
Рет қаралды 8 МЛН
Tom Bilyeu
Рет қаралды 2,2 МЛН
Win The House You Love
Рет қаралды 12 М.
Win The House You Love
Рет қаралды 25 М.
Win The House You Love
Рет қаралды 946 М.