DON'T Use THESE Lenders! First Time Homebuyers Tips and Advice

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[VTHookie]

On your point number 2 ;My lander told me that he couldnt give me a loan estimate before a purchase agreement due to the fact that the price of the house i intend to buy and the associated costs of owning that house are not yet known other than lender fees.Your take on this?

[cardiac]

I had a bad experience with my lender, and it cost me. When I got my cash to close number, I asked my lender how much of that would be paid by my DPA. He decided to tell me at that moment that because of the economy (Oct 2022) DPA programs were being halted. 😡 Not only did I not get DPA, I got the worst rate for someone with 0 DTI, 13 years job history, and an 800 credit score. My interest rate is 6.8. I've been in my home 19 months, and the interest rate still sucks, not worth it to refinance. Everything keeps increasing -- insurance and property taxes. Which increases my monthly payments. Despite all the drama and let downs, I am glad I have this home. It's not a palace by any means. It's a small 19-year-old, 1400 sqft home. Hopefully, one day, I will own it out right.

[JenniferBeeston]

Lender here. You are 100% nailed this. 👏👏👏👏👏👏👏 I hope everyone watched this whole video as doing so will save them

[Khadcabo]

I found a broker and he recommended an agent … who turned out to be his wife. He would speak for her and tell her which property to show me, deter me from new build because of the incentives from the builder that he couldn’t match… conflict of interest galore 😓

[modenasolone]

Amazing how good information comes often after the fact

[soccersprint]

Closing cost is a sham that has somehow been widely accepted.

[skindippedingold]

Thia is very straight to the point and helpful. Can you do one about red flags with realtors and one on inspectors?

[MzCami]

If you have Third Federal Bank, thats who i went through. Rocket mortgage said themselves fhat Third Federal is 1 of the best and its hard to beat them. I went through a first time homebuyer course with them and received enough down payment assistance that i only paid earnest money, no closing costs. The only thing with Third Federal is that they dont do monthly escrow for homeowners. Youre on your own paying that.

[jacquelineo]

omg i live in Ca and your videos have come in handy

[prayonkreutz]

Our loan estimate showed the homeowners insurance 3x lower than the quotes we got. Watch those figures, dont be shocked when your 1st payment comes due.

[kikiaji]

Thank you, I learned so much from you and it saved me from a major financial loss that I would have experienced.

[yvonnec]

Thank you! Great live, sorry I had to catch the replay.

[MassanLending]

As a Broker I generally choose best rate for my borrowers and yes the lender I choose usually have among lowest rates. ❤ the podcast

[vivianlandrum]

Wonderful insight. I remember when I was looking at homes in 2009, one particular home my agent told me that the seller was willing to put more money towards closing cost, but I didn't care because the purchase price was too high and I didn't like the house. It's good to understand these terms.

[samuelmahmud]

Great video coverage 💯 Thank you very informative and educational

[Blessings-mvul]

Hi Miss Hill, can you do a video on combine morgages for FTHB program funds as a second morgage and how it works. Thank you.

[christiansiri]

Thank you for sharing your knowledge. Like how you simplify this extremely nerve wracking process.

[mnrois]

Thank you SH for much needed advice for many that are not aware of these. Consumers need to be aware that relying on the same person to do both task should raise red flags and conflict of interest. It’s ever more crucial now that home ownership is difficult and deceiving practice is rampant.

[annettepennant]

Thanks Shaheedah for all of that information.

[cutdcrap]

I am lender and you are 100% right! Only Downside with large banks are they are happy to provide you checking accounts & saving accounts with 24 - 29% rate credit card and some cool fees like late fess... So they are not motivated to lend huge amounts of $s to houses and service those loan for 30 years.. They can make 5X amount of money within 4 - 5 years with their other products and army of employees and hight teach processes in place..