Hey there, my name is Marcos Zambrano and I'm a mortgage loan officer and licensed Realtor in Atlanta, GA.
My purpose with this channel is to educate those who are looking for the best information in home financing and personal finance. Subscribe to my channel if you are looking to educate yourself on the most hot-pressing topics when it comes to buying, selling real estate, mortgage programs, financing, and more.
Nice Video- I am kinda confused with several fees that don't make any sense to me" is there any one who can go over it and walk me through? or tell me what fees should be displaying! I feel each lender makes up their own crap and add fees....shouldn't they all be following a standard template? On my pre approval form there are these fees : " Flood Certification, Tax Service Fee, 3rd party processing fee, USDA Tech fee, Guarantee fee (lol), bunch of Title fees (Abstract/title search, Premium for Lenders coverage, recording, Settlement or closing, title examination": Recording fees, Prepaid interest fees, coulple of Escrow fees, Survey Fee, Pest Inspection, Home inspeaction, Final inspection, lol "Seller Creddit" -> is this assuming seller will pay "X" amount of closing costs?
When applying for a mortgage loan, is it better to put the full purchase price and 60% down payment or ONLY the amount you need if you have a large sum of cash and a 20% down payment?
I’ll tell you now as a notary signing agent , we need to get paid more , every thing has gone up and our fees have not In a long ass time , we pay gas paper E& O etc , appraisers make 600 + now , before it was about 400
Discount points can be beneficial though. For me, especially with crazy high prices and high interest rates, I needed to buy more points to get my monthly Mortage where I wanted it to be.
Overall very good explanation from an upfront LO. I found nothing I could critique except for the hyperbole word "rip-off" and not mentioning non-QM loans have underwriting fees that are $1,495 and up. Sure, the uw fee can be wiped out but that increases the rate by .125% or the fee. Like he said "nothing in the USA is free".
@@marcoszambrano2044 that's great. I’ve seen your videos, shorts, and thumbnails. They’re good, but they have some issues. These issues are the main reason your videos aren’t reaching your target audience. Would you like to improve your videos, shorts, and thumbnails?
Hey, great video well done. Love the information and that you explained it in such a calm and healthy way. Right now I’m getting ready to do a blended rate weighted analysis to try and transmute it into a new mortgage.
You’re welcome, glad you found it helpful! You’ll do a blended rate if you’re getting a second mortgage or something like that. Don’t think it would lead to anything if it’s just 1 mortgage that you’re getting
absolutely love the video, is there a timeframe in which you can enter this program? Is it only upon purchasing the home? Or I can whenever i’m ready to renovate
I am buying first home. I have some better clarity now. One lender is charging me 2.75% origination fee. The other lender rocket mortgage increased interest rate so that I get some lender discounts. Neither one of them has yet told me what my par is
According to the, The Real Estate Settlement Procedure Act RESPA/ The, GFE= Good Faith Estimate, For closed-end reverse mortgages, a loan originator is required to provide a consumer with the standard GFE form that is designed to allow borrowers to shop for a mortgage loan by comparing settlement costs and loan terms. • The loan originator must provide the standard GFE to the borrower within three business days of receipt of an application for a mortgage loan. A loan originator is not required to provide a GFE if before the end of the three-business-day period, the application is denied or the borrower withdraws the application.
For me, as I can't sell my flipped house so I'm thinking either HELOC or Refinance. I bought the house whole as a cash, not a mortgage, so which way will be the best option you think? Once I get money from mortgage, I'm thinking to do a new flipping house right away.
Thanks for this video, Marcos. It was very informative. I’m going to try to say this as succinctly as I can; my mother is a senior citizen who owns her home, free and clear, but she’s let it get into a state of disrepair. There is a lot of water damage from a leaking roof issue. I’m trying to help her get financed, but it seems that the house needs to be inspected first to qualify for a loan to fix the roof. With a home in the condition her is, is she able to get this kind of loan? If not, are there loans out there for people like her in her category and condition of home?
I just spoke to my lender and she told me that in this market there are no free point right now. She gave me and interest rate higher than my par interest rate and i still have to pay for points is this true?
In my research, I feel the same, but at the same time it seems like the easiest. I get the variable % rate, help us in a crunch and rake our coals, when things good. But I'm noticing heloc likes to play games and hammer you on early pay
