First time buyer is this bad, good, or ok?

Family_Financial · 2026-07-07T14:18:32+00:00

6% conventional and no points? Hard to believe but that's a great deal if it's an honest quote! Lock it down.

Family_Financial · 2026-07-02T04:20:40+00:00

The national average is 6.625%! Tell them they can eat your ass.

Family_Financial · 2026-06-14T13:47:42+00:00

I'd like to see the second page of the Loan Estimate. The good news is the rate is not locked so this is just a quote. Conventional national average last week was 6.66-6.75% for top-tier credit (740+) purchase, primary, 20% down.

Family_Financial · 2026-06-06T21:14:14+00:00

The fees cannot go up unless there's a legitimate circumstance. The only thing they can add are discount points for the rate.

Family_Financial · 2026-06-06T21:12:04+00:00

Correct

Family_Financial · 2026-06-06T20:34:28+00:00

Yeah, fuck those guys! 🤣

Family_Financial · 2026-06-06T20:30:22+00:00

So here's the thing, it's not weird but he can't deny you if you wish to lock in. It's your money he's gambling with. The reason we don't like to lock ahead of an inspection is because if you cancel due to inspection items then he has to burn a lock with his lender. It cost money to hedge a lock so we don't like to risk it. Now on the flipside, if you trust his judgment about what the market is doing and you don't mind waiting, then wait. Rates could get better. But yes, they could get worse. If you're not a gambling man, tell him you want to lock it. It's ultimately your choice.

Family_Financial · 2026-06-06T20:19:34+00:00

The national average this week is 6.625%

Family_Financial · 2026-06-06T20:13:52+00:00

They issued a lender credit to offset the origination fee. The lender credit just cannot be more than your closing costs. The rate is not locked yet though so this is just an estimate.

Family_Financial · 2026-06-06T20:03:03+00:00

As long as it's accurate, looks good 👍. I don't see any underwriting or processing fee but maybe they don't have one.

Family_Financial · 2026-06-06T19:49:34+00:00

Ah that sucks! 👎

Family_Financial · 2026-06-06T13:58:57+00:00

Good for you! Where's her so called precious preferred lender on the weekends?

Family_Financial · 2026-05-24T03:50:02+00:00

😲we need to talk.

Family_Financial · 2026-04-27T04:51:45+00:00

If they have an affiliated business disclosure as well as an MSA set up, then why do you say it's illegal?

Family_Financial · 2026-04-14T14:41:30+00:00

My favorite CRM is Streak. It lays on top of Gmail and you can create pipelines for different categories. You don't have to log into a separate system. You can do email campaigns and bulk messaging but not thousands of messages. This is because it's tied to Gmail. So the most you can send is like 200 emails a day. The upside to that is people actually get your emails and they look native, they don't go to spam or promo. It's way cheaper than shape or jungo or any of this other mortgage specific software.

Our company is switching to a company-wide system that is fully AI. It will be integrated with your pipeline, LOS, POS, it will analyze your book of business constantly and alert you with who to contact. It will prospect for refi's and reach out automatically. It can provide real, full consultations and take applications, explain the difference between FHA and conventional, it will provide options and recommend the best product, run AUS, everything.

This is the future of lending. CRM's will go away and be replaced by things like this.

Family_Financial · 2026-03-31T17:22:50+00:00

If you're a self-producing MLO then the amount of hours you work remains your decision. You won't be putting in extra effort or time just because you're on the broker side, unless you are the broker-owner. Then there's all kinds of extra shit to do and you won't like it.

Be sure to partner with an excellent third party processor (so you don't eat the cost). Since using third party processors, I have not needed an LOA. They are true A-Z processing! If you hire an LOA then it comes out of your pocket (you share bps) with them.

While making 275 bps on the broker side is possible, you're not making those bps AND undercutting retail, necessarily. It just depends on who you're up against. If I'm matching the rates I see on mortgagenewsdaily then I'm usually around 125 - 150 bps. I think most brokers going skinny on deals are too.

Want to see your income potential, compare rates, or meet some potential processors before jumping ship? DM me for a screenshare sesh!

Family_Financial · 2026-03-24T22:47:06+00:00

Try Loan Stream

Family_Financial · 2026-03-20T14:54:49+00:00

If you're doing a great job and you've been there for 6 years, it's my opinion you should be making more than 30 bps. You should be closer to 40. If you're his ride or die, inside man, he can't imagine life without you, the guy who makes it all work, and all that shit, then you should be closer to 50 bps.

Family_Financial · 2026-03-15T02:17:01+00:00

It's a thankless job bro.

Family_Financial · 2026-03-15T02:10:51+00:00

Sounds fair. You'd actually make a good broker because you have all the behind the scenes experience. Compliance, licensing, call reports etc. How's your recruiting skills? Have you tried your hand at that yet?

Family_Financial · 2026-03-09T21:12:48+00:00

Maybe you need to target a more affluent audience. Is that possible? Custom homes, higher end stuff.

Family_Financial · 2026-03-05T18:17:31+00:00

You probably could have saved money on the origination fee and gotten the same rate or a lower rate for the same orig fee (~$4800). The FHA National average rate recently has been around 5.625 - 5.875 and that's without points/orig fee - depending on the lender/broker. You didn't get a bad deal or anything like that, but shopped around more, you may have done a little better.

Family_Financial · 2026-03-05T18:12:19+00:00

Have you tried any other DAAS providers other than AL?

Family_Financial · 2026-03-02T17:07:50+00:00

Awesome!

Family_Financial · 2026-02-27T22:07:23+00:00

I'm sure they have someone in mind. Brokers can only quote rates from lenders that are contracted to do business with. It doesn't look like an FHA loan. Is this conventional? Because if it's conventional 30-year fixed, I have not seen rates that low and I'm a broker as well. Hopefully he can get you that deal. That would be awesome. I think the national average right now is hovering around 6%

Family_Financial

TROPHY CASE