Shopping Your Pre-Qualification Can Save You THOUSANDS!

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[kimhalls]

The way you explain things and edit your videos makes the content your discussing easier to understand. Very comprehensive and understandable.

[MechPaul]

Shopped my mortgage back in 2021. Got my mortgage from 3.25% to 2.75%. My realtor said to me, “We have to notify the sellers that we’re switching lenders. This new lender I don’t know well. Are you willing to take the risk over $50/month?”

I said yes. We closed. Still hold the property 3 years later. 2k in my pocket!

[rogermendez]

Mortgage shopping is so underrated. It’s like a cheatcode to saving hundreds and thousands of dollars. Appreciate this video so much, Javier. I will be sending this to my uncle who has weird obsession with rocket mortgage hahahaha cool content and editing, always so on point.

[heneryjsbrcr]

Just had superbowl and saw this. You are genius and so helpful in all ways, Javy! You could be a great financial advisor too.

[ttminves]

Dude this video fucking saved me so much money. I paused it and immediately started searching around because I was recommended someone who they’ve used before, they have a YouTube channel and specialize in VA loan, I’ve talked to the guy. He’s nice. So far I’m getting a far better deal if I choose someone else. Buying my rate down for more with less cash needed

[miltonsaucedo]

Yeah I think im a rocket fanboy too.. I like that i dont have to worry about my mortgage being sold on the secondary market every 6 months. Their app is really intuitive and gives me the info I need when I want to see it. Their representatives that I have worked with in the past have been really helpful and easy going. Also, their budgeting app that is free to you if you have your mortgage with them is pretty awesome and I like that they are in a sense anti-consumer debt... in the sense that the app will tell you, hey, fyi, you are spending $150 a month on subscriptions that you may or may not even be using...you might want to cancel them, in fact, you can cancel it right through this app 😆.

Good video tho. People should price shop.. Once you like Rocket for other reasons then the lowest possible cost, yeah, you might just stick with Rocket like I'm doing with my current purchase.

[donna.billy]

Great video ! checking mortgage services allows us to find the best possible terms, ensure a smooth process, and ultimately save money over the long term. Thank you for the reminder .

[CrownTraveler]

Both big mortgage companies right in my backyard here in Michigan. 🤓 this was extremely eye-opening and helpful, thank you!

[johannamiller]

Rocket Mortgage gave me a far worse deal than their competitors did, and when I told them so, the agent launched into a spiel about "We're the biggest mortgage lender in the country, do you think we'd be doing so much business if we weren't doing something right?" Well, yeah, maybe.

[Teacher_Clara]

Really great video! 👏 we have owned two homes and I wish we would have been this thorough when shopping around for mortgage rates. Next time 🙂

[sourjyaguha]

Great timing ont he vide :D Right after super bowl - just like our case :D Love your videos

[milsa]

I just want to confirm 1) shop around and get a pre-qualified letter from 4ish lenders 2) when you’re under contract for a house, contact those lenders again for a pre-approval? 3) compare and find the one that’s best for you 4) pick a lender and lock in the rates?

[Jaguardragoon]

Damn, they were better in the middle of 2020. Rocket’s quote didn’t have any of these extra fees back then. I actually used them for leverage to negotiate against the local mortgage broker.

[ilyfamily]

My current situation with lender shopping is the current lender im working with wants 12% of the purchase price for closing costs on a rental property.

[koyadario]

Videos are always amazing man . Good job 👍🏻

[iupab]

How about explaining “discount points” and associates cost/value??

[jikert]

Plus you could make the same monthly payments and pay extra on principal

[mguti]

I find this really surprising. I have been through this process 4 times (2 buys and 2 refinances). Every single time I've compared Rocket Mortgage with at least 2 other lenders and every single time Rocket has won the bid. Their numbers are just cheaper, their app/process is exceptional, and their professionalism is top notch. I can't even begin to tell how many other lenders/brokers are just rude MFs.

[iupab]

What about the “ credit checks” on the four lenders you choose to get quotes from? I asked for pre qualification letters from 2 lenders and ended up with two “hard inquiries” on my credit report.

[jerrydoeshomeloans]

This is not meant to be attacking anyone and specifically not you Javier. I like your videos and they’re really informative and down to earth. I live in Phoenix and would be honored to actually talk with you about your videos you do on mortgages. As an MLO myself, if you actually look at the real life application of each loan estimate and compare the two. The Rocket Mortgage one is actually the better deal and puts the client in the better situation. Just because you’re getting a lower rate doesn’t mean it’s the better option. I have way too many clients shopping for rates only and then end up hurting themselves and paying more than they need. There’s also way too many real estate agents that of course are trying to look out for their client, but don’t know rules and guidelines about lending and do their clients a disservice