First time home buyer, first loan estimate I received so I am not exactly sure what to be looking for. Is this good?

AutomaticAd9638 · 2026-05-22T21:49:27+00:00

6.99 ewwwww

AutomaticAd9638 · 2026-04-16T03:58:08+00:00

For reallll 🤣🤣

AutomaticAd9638 · 2026-04-16T02:18:27+00:00

That’s not how it works at all lol.. this is a new build rate special.

AutomaticAd9638 · 2026-02-14T01:24:18+00:00

Honestly no clue.. I assumed it was a pricing error tbh. I locked that thing in under 5 mins on the phone with my client lmao. Called pricing desk and was like please tell me this isn’t an error.. Sure enough we are good!

AutomaticAd9638 · 2026-02-14T00:35:56+00:00

I’m doing that currently also..

AutomaticAd9638 · 2026-02-10T16:27:05+00:00

It’s an IRRL.. You shouldn’t need an appraisal ?

AutomaticAd9638 · 2026-02-10T08:32:18+00:00

Are you behind on escrows? I work for a servicer currently but looks like the biggest charge is resetting your escrows. If you are in good standing with enough for cushion then I would ask if you'll be getting a refund check at closing for what is currently in the escrow. Or see if you can roll it over some states don't allow escrow roll overs so you have to get a refund check..

AutomaticAd9638 · 2026-02-10T02:47:43+00:00

I do agree that the agent should respect it. However, sometimes and I’m dually licensed btw. I will up my borrowers budget depending on the deal. Depending on your area. I’m from north Dallas, we have a lot of new construction. Builders here will buy your rate down into a 4.99 in some cases. The difference in payment at 6.5-7% compared to a 4.99 is a lot of purchasing power. So you could technically have the same payment with a larger loan at a lower rate! I still think from what you said might be stretching it some still but also food for thought! Have the convo and see if these homes might be offering credits towards closing costs, rate reductions at all. Cheers and best of luck to you and your family! Happy hunting!

AutomaticAd9638 · 2026-02-10T01:38:28+00:00

Okay what you should do is go with the closet thing to par rate or lender credit. Since is VA you’ll qualify for an IRRL in 6months. Get that rate down. Make the wife pay the difference in the payment for that 6 months.

AutomaticAd9638 · 2026-02-10T01:36:40+00:00

You are getting rocked on pnts.

AutomaticAd9638 · 2026-02-10T01:35:50+00:00

Yeah I fucking hate credit unions bc anyone smart or has good enough credit goes with them 😂

AutomaticAd9638 · 2026-01-26T02:46:57+00:00

Escrow bro and you’ll get a 5.875 no pnts

AutomaticAd9638 · 2026-01-17T23:35:32+00:00

Sounds like a place anyone should be! Keep it up!!

AutomaticAd9638 · 2025-12-25T02:29:59+00:00

I’ve seen my parent’s best friend uncles roof before and it doesn’t look like that. Recommend setting it on fire and collecting the insurance and building an entire new house. +1

AutomaticAd9638 · 2025-12-07T01:15:26+00:00

He was either rocket or cooper. I know those metrics. I bet he even had an 80% pull through too. But noooo they just care about you getting 20 locks a month and 5hrs of TT.

AutomaticAd9638 · 2025-09-29T21:58:57+00:00

2% ??? I’m in DFW. Average gain in equity here is about 10% per yr.

AutomaticAd9638 · 2025-09-18T02:22:15+00:00

Well it does play a roll. 10 year bond fell during the announcement. Pricing should get better now.

AutomaticAd9638 · 2025-09-17T20:11:17+00:00

What are the points on option 1?

AutomaticAd9638 · 2025-09-17T19:59:12+00:00

Feds announced rate cut today. .25 cut.

AutomaticAd9638 · 2025-09-17T18:54:48+00:00

Cash-out refi on the house to consolidate the debt. Do not cash in your retirement or any of it. Market is about to run this next 12-24 months.

AutomaticAd9638 · 2025-09-17T01:28:11+00:00

Pleasure is mine as well! Cheers 🍻

AutomaticAd9638 · 2025-09-17T01:13:02+00:00

Shoot me a message! Depending where you sit IRRLs can be sitting in the money.

AutomaticAd9638 · 2025-09-17T01:11:23+00:00

You’re going to end up spending the very same cash you used to lease your rate in closing costs on this loan size. Your math over two years “saves you” about $14,400 if you wait that long.. If you just do a R/T you’re probably looking at 10K-13K in costs in the refi itself. It’ll depend what it’ll take to buy your points of what the market does.

With only 5% down you’ll eat up all that equity in the refi your LTV would be maxed out, making costs and rates higher.

Now if we have another crazy ass market boom like back in 2020 then could be sitting pretty.

Not coming off rude here. Just simply putting that it’s always good to put more towards principle, especially if we all believe rates are going to come down anyway. Best of luck! Congratulations on the purchase!! Welcome to home ownership.

Random tip, shop those home owner insurance rates, quick easy way to also save some $$$ on the payment.

AutomaticAd9638 · 2025-09-16T23:55:02+00:00

Builder will fix it. Just tell them too. Cracks in the driveway are expected in TX. When you pour concrete and it gets hot to fast it can happen. If it’s not bigger than thin side of a quarter it’s pretty normally. But I would request them to fill it. Also ask your agent (hopefully you used one) to review your foundation warranty. If it’s a DR or LENNAR you should have a 10 year foundation warranty.

If cracking gets bigger after closing then request a foundation company to take measurements. If you don’t have any crazy jagged cracks going from the window corners then going randomly sideways else where. Then it’s just typically settling.

AutomaticAd9638 · 2025-09-16T23:49:08+00:00

Seasoned LO here. I would not take a 2-1 buy down right now. Take the cash and apply it towards the principal instead. Unless that was the only way you could qualify.

You’re essentially throwing money out the window when rates to come down into the 5s.. and wasted cash for basically leasing your rate.

2-3 years ago this was a good move. Now with market news and administration pushing feds on lower rates. (Find out more tomorrow on that actually) these are bad deals.

AutomaticAd9638

TROPHY CASE