How To Read A Mortgage Loan Estimate

Today we show you how to read a mortgage loan estimate so that you know exactly what to look out for.

Reading a loan estimate can be very confusing, but it doesn't have to be if you know which sections to look for.

There are some red flags that we teach you to look for on the closing costs sheet as well.

Ryan Ehler
Loan Officer
NMLS 1607795
Cell: 480.694.3489

690 E Warner Rd, Ste. 103
Gilbert, AZ 85296
Equal Housing Lender

[Rajphatak]

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.



Reply

[Immortalangel]

What if my mortgage loan ID is only 8 digits?

[clintrichard]

It is funny that she takes a shot at online lenders. As if mortgage brokers banks and credit unions are perfect. It is the loan officer generating the quote. If they are not transparent and truthful during the process it will all come out in the end. It does not matter who they work for. I have been a loan officer and worked as a broker for a few banks and an online lender. A bad apple is a bad apple.

[yoselinjara]

Hi. Do you look at new construction loans? Let me know. Thank you!!

[MelinaHarris]

How do you calculate the figures to make sure you balance what the lender has

[deannaleefrancis]

Can I have you look over loan estimate