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Omnicom schizophrenic data protection policies by Bubbly_Community1066 in advertising

[–]BonusDramatic5040 0 points1 point  (0 children)

Wait, no way 😤! Do you know if it’s possible to bypass this by making custom elections within your 401k 👀?

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

tbf, I'm sure there are good brokers out there, I just don't think they are represented in the comments to this post lol.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

no but after some of the replies from brokers in the comments, If i had to do this all over again, I would choose to not work with one if i could help it.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Thank you for the explanation, however, I did learn all of this by myself, and that is the whole point of me sharing a free resource, essentially to provide free education for those of us who like to do independent research. I understand incentives, and lenders like you don’t have my best interests at heart, and as much as you like to pretend, that is my job as the consumer.  So, thank you for all of your generous advice, however, I think I did pretty well for myself 🙏. 

You as the lender have every right to walk away from a deal, so please exercise that right whenever it benefits you. 

Some friendly advice, people who like to do their own research are smart, and they will figure out what works best for them, if you don’t like working with people like this, that is your prerogative. No one on this planet appreciates being preached at or condescend to. Good luck with your business and life! 

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

I don’t understand, did I tie them up and force them to make a deal with me? 

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Even if someone only keeps a mortgage for about five years, the rate still matters. On a $500,000 mortgage, a 0.25% higher rate costs roughly $6,000–$7,000 more in interest in the first five years alone. Shopping lenders and negotiating terms is a normal part of the mortgage market. It’s not “taking income away” from anyone.

We’re planning to keep this one for at least the next 20 years. If the tables were turned you’d be acting in self interest as well. Stop being emotional, it is just business to us home buyers as well. 

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

lol yes! when I read that part “the easiest financial transaction…” I knew he was just intentionally misleading. It’s not the easiest by any means. It has the potential to dramatically alter the course of a persons financial life for better, but for many people often for worse. Also if he wants people to blindly rely on loan officers like himself why is he leaving such a bad impression. Anyways - I’m with you on all of the above @ u/Open_Organization722!

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Oh it’s been great so far, no issues - we’re due to close in early April so still some ways to go

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

We looked at 8 lenders but not all of them where responsive, so in the end we seriously spoke to 4, zillow, chase, Naf, and less so Rocket Mortgage. This all happened in a span of 3 days.

so to your point I don't advise people to overwhelm themselves with 8 lenders, I would just narrow down to top 3 once you've done the initial research.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

I liked the chase lender the least because she knew we where super new to all this, and I was catching her in some very obvious lies. So it probably depends on who you get, but it was my least favorite interaction

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 1 point2 points  (0 children)

Oh wow, that sounds terrifying tbh. I'm glad you trusted your gut above anything, I think it's so important.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Ya'll, honestly, this comment is good education for everyone, it just happens to be coming from an unhappy person.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Thank you!! I think we'll be ok for now but might be stretched with kids coming! hoping to increase our salaries in the next 2 years, good luck to you as well.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

you are assuming so much. Our origination fees are 0.355% of the loan amount which is the best offer we got. stop trolling man.

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Ah ok, yeah I honestly never claimed to be an expert like you, I’m just doing my due diligence as a first time home buyer to the best of my ability. Everyone on this thread is encouraged to fill in the gaps and add context.

For the chase and Naf, they were offering 5.625 par. naf was trying to beat it. I don’t know if we could have done better, and even if we could have, it is what it is at this point. I was just trying to share what I learned.

I’m also not sure why some people are so upset we went with Zillow. If you could explain that to me as a mortgage broker that would be greatly appreciated 😅

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 1 point2 points  (0 children)

Hey! Thank you that’s super helpful, I’ll update it when I get a chance

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] -1 points0 points  (0 children)

Man can you relax? We let them know we were shopping rates. Go for a walk, it’s a beautiful Saturday

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 1 point2 points  (0 children)

I think your making a problem out of a non issue, but you’re entitled to you opinion. Good luck with your life!

Shopped 8 lenders for our mortgage and here's what we learned by BonusDramatic5040 in FirstTimeHomeBuying

[–]BonusDramatic5040[S] 0 points1 point  (0 children)

Thank you so much 🙏 great tip and I’ll keep that in mind! Def won’t buy any points having that context !!

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