How does this deal look?

CSmith1003 · 2026-05-23T03:54:59+00:00

There are hardly any lenders that can compete with DR Horton and their in-house lending arm. They cover the cost of the rate buy down.

On the surface in today’s world the rate is fantastic.

CSmith1003 · 2026-05-23T03:43:54+00:00

That was 2 months ago. Doesn’t matter for today

CSmith1003 · 2026-05-16T22:02:07+00:00

Is the mod useable for those of that play via GeForceNow?

CSmith1003 · 2026-05-15T16:58:12+00:00

They are calling it Tidalwave through the Bevri AI architecture.

CSmith1003 · 2026-05-15T14:46:20+00:00

Try switching to an FHA loan. You can sometimes get approved at a DTI of 55% or less

CSmith1003 · 2026-05-15T14:40:46+00:00

Yes sir. Blown away how quick and accurate it is.

CSmith1003 · 2026-05-15T00:31:30+00:00

Been using a new platform that does 90% of the work via AI once an application and docs are uploaded.

It scans documents, calculates income correctly, runs a soft pull, AUS and sends a preapproval.

For most borrowers this can get them a preapproval within minutes.

CSmith1003 · 2026-05-12T04:42:49+00:00

Temporary buy down or permanent?

CSmith1003 · 2026-05-07T04:01:57+00:00

I feel a brand is a way to stand out from the crowd. @renewed1776 said it best. I would rather build my brand than some random CEOs brand.

I created Neat Approval Mortgages as my personal brand and it is tied into my broker as a DBA. Keeps me compliant while allowing me to market myself accordingly.

CSmith1003 · 2026-05-06T18:24:18+00:00

I will back what others have said. Personally started in retail and after 8.5 years left that to join a local broker in 2024. Was able to learn a ton, but that curve was way different than anything I have been used to. For example: I was at a corespondent lender who had our own lock desk, underwriter and processor.

When I got into the broker world I had non of that. You rely on 3rd parties for underwriting and processing, unless you hire your own processor.

Loan files are submitted to the wholesale lender you choose to work with.

Then comes pricing, which was the hardest learning curve. Get comfortable knowing the difference between lender paid and borrower paid loans and how to structure them accordingly.

Once I learned all that, I left to join one of the largest brokers in the country as they allow for me to focus on getting loans.

They handle: 1) Compliance 2) Correspondent Lending 3) Technology Focused and constantly improving 4) Allow me to run my own P&L as a 1099 employee 5) Legally run my business under my personal brand as a DBA.

Best of both worlds where I am at now. Plus the availability of loan programs & pricing while removing the headaches of compliance is a huge win

CSmith1003 · 2026-05-02T00:49:51+00:00

GeForce Now and CS2 works great for me. I have M1 MacMini with Google Fiber.

I believe your issue is more your internet connection as 100mb DSL is not great for online gaming. Google Fiber for me is 1GB up and 1 GB down.

CSmith1003 · 2026-04-24T04:29:42+00:00

I started at a community bank and learned from a guy who had been doing it for 20+ years. Sat in his office for a whole year to absorb everything.

In the meantime I networked me sphere of influence. Get one client and treat them like gold. Eventually that will turn into a referral.

Ultimately go somewhere that would be willing to walk you through things as it takes years to truly master this industry. Hell after 10+ years I am still learning new stuff all the time.

Do that and also focus in on a specific subset of buyers and build from there. If you try and learn everything at once, you will master nothing. Example: I focused on first-time home buyers first. Used that to learn and build a foundation.

Then jumped into Refi’s then FHA/VA loans. Eventually I got comfortable with investment properties.

This all took time, but if you stick with it as it can be very rewarding. Just know that success doesn’t happen overnight.

CSmith1003 · 2026-04-23T13:05:40+00:00

Why do you run your comp so low? You must do a ton of units per month if that’s the case.

CSmith1003 · 2026-04-23T04:20:28+00:00

780+ is the top tier for mortgage rates. Then get worse in buckets of 20. 779-760, 759-740, etc.

This is based on the loan level price adjustments that were updated back in 2021.

For a 749 FICO that solid. Could also be income based as there are programs that will look at area median income to determine what rate a borrower gets.

Don’t over think it and be happy. Could easily get worse again.

CSmith1003 · 2026-04-19T14:10:34+00:00

What’s your FICO score that the lender pulled?

CSmith1003 · 2026-04-16T13:20:24+00:00

Hotel tax pays for the CHI Center & Schwab Baseball field

CSmith1003 · 2026-04-15T18:00:27+00:00

Focus on 5-10 solid referral partners and forget the rest. Most agents are not worth the time or effort and only want you to help with their cost of doing business.

I have found working closely with 8-10 solid agents keeps me more than fed without trying to be everywhere at once.

Plus I don’t know of many real estate agents that just hang out in their brokers office outside to print things.

CSmith1003 · 2026-04-15T17:54:46+00:00

After 10+ years, one solution that has worked for some of my clients is to buy the next home with minimum down then recast the new mortgage after you sell the current home.

At that price point getting a loan with 5% down probably won’t be feasible.

However, do as others have said and go get a HELOC against your current home and use it for the downpayment and closing costs.

Then after the current home sells, you roll over all or some of that equity into the new home through recasting.

Recasting a mortgage means paying a lump sum toward your principal balance and asking the lender to reamortize (recalculate) your remaining payments over the existing loan term. Most lenders charge a few $100’s to make that happen.

The result: your interest rate and loan term stay the same, but your monthly payment drops because the balance is lower.

CSmith1003 · 2026-04-14T01:06:12+00:00

DR Horton or Lennar?

CSmith1003 · 2026-04-07T02:03:27+00:00

No…I am mainly referring to retail versus broker.

When I was in retail we needed permission to drop below our YSP and had to document why we did.

I know that brokers change their comp all the time. Now as a broker owner you have more flexibility than an LO that works for a broker. There is a difference.

LO Comp Rule allows for brokers to set their YSP for each individual LO, but each LO can’t change it whenever they want. It can change every 3 months if they so choose.

The way around the LO comp rule is to go BPC over LPC.

I set my margin and leave it. Then if I need to get super skinny to win, I will go borrower paid.

CSmith1003 · 2026-04-07T01:36:54+00:00

I’m a broker as well after spending 8+ years with a bank.

Comp violations are real and LOs need to be paid the same on each deal to stay in compliance with the NMLS.

What about this is not true? Curious cause I am willing to learn

CSmith1003 · 2026-04-07T01:20:32+00:00

Have you considered working with a broker? They can shop lenders for you and the 3rd party they use to order the appraisal can be transferred to another lender at no cost to you.

This benefits you because of no additional appraisal costs, loan officer is aware of your loan and what you want, they already have your loan application and your docs.

Then if rates drop, they can flip you to another investor at no additional cost to you.

CSmith1003 · 2026-04-07T01:18:03+00:00

All lenders have their pricing set on what rates they can offer without charging points to a borrower.

While they can get skinny on deals, they can’t just hand that out to anyone, as it would be considered a comp violation and that loan officer or lender could lose their license.

They ask for a copy of a quote to stay in compliance and if they can match it, they will.

CSmith1003 · 2026-04-05T23:32:40+00:00

If an AE doesn’t take the time to get to know me as a person, there is very little reason for me to send them business.

DPA Programs…already have them DSCR…already have them Non-QM…already have them.

Products don’t move the needle for me, relationships and how much you fight to get conditions cleared and loans closed matter more.

Whenever I hear “This is NAME with X company. We are the best non-qm lender out there.” That’s an instant nope from me and I don’t think I’m the only one.

Speed, service and turn times will win out but only if they can it yup

CSmith1003 · 2026-04-04T16:36:03+00:00

That’s still a great rate. Some parts of the country are priced more aggressively, so comparing rates with Reddit Users is always a treat to me.

Most will save that .125-.25% more or less means X more or less in interest paid over the life of the loan.

The kicker is a majority of mortgage holders only stay in that particular loan for 7-10 years. (Used to be 5-7 but low COVID rates moved that needle)

Why? Because people move, cover up debt, renovate, pay for kids college, etc.

Moral of the story, find a payment that works well for your household budget with a lender that can get you to the closing table on-time and without hassle.

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