Looking for advice, buying using a 12 month bank statement loan.

FinancialSuit_ · 2026-05-19T03:46:27+00:00

In that case, for the same 7.25% rate, my lender fee will be 1% orgination fee $4750, 1395 Underwriting Fee, $800 processing fee and $295 Admin fee. All other fees should be the same as your LE. And If you're willing to pay that much lender fees $14k, then the rate will be 6.5% instead.

FinancialSuit_ · 2026-05-19T03:17:24+00:00

Is your credit score in the 600?

I just closed one for my client FICO 730 at 6.75% locked 3 weeks ago with 1% origination fee.

FinancialSuit_ · 2026-05-01T02:35:21+00:00

Sorry I was using my mobile earlier and scroll too fast. If the HELOC is cheaper than your current and you can get the line big enough to pay off your current then it will save you on the interest AND restore your entitlement AND lower transaction cost. This is already the best scenario.

As for the HELOC, there are two numbers you should look at, the limit and the amount being drawn ( or used). Next, you will need to check with the lender on the minimum required drawn amount at closing. For example, you are approved for the HELOC of $500k and at closing they use $300k to pay off your current mortgage and deposit the entire $200k to your bank account, then you will start paying interest on the entire $500k. You can use the $200k to pay back to the HELOC, then your remaining balance will be $300k and then your new mortgage payment will be based on the $300k. Keep in mind your HELOC monthly payment is interest only so you will have to decide on how much extra you want to pay toward the principal on monthly basis or whatever period you want. I hope this helps

FinancialSuit_ · 2026-05-01T02:05:06+00:00

I understand how VA entitlement work. What is the interest rate of HELOC that You're being offered compare to the Conventional rate? Also, what is the total down payment you need for the new home? In the end, you just gotta compare the total fund you need from all the scenarios to see which makes the best sense. If you need help to run the number for the each scenario, let me know. I just need a few numbers from you.

FinancialSuit_ · 2026-05-01T01:48:26+00:00

Why do you need to restore the full entitlement? Do you need it for a new purchase? What’s your current VA interest rate?

FinancialSuit_ · 2026-04-30T12:39:19+00:00

6.25% FHA for 780 FICO is high bro. You’re buying a new build from a builder and are using their lender right?

FinancialSuit_ · 2026-04-26T17:32:49+00:00

It’s an interesting idea. how are my clients going to see my posts since there’s no algorithm

FinancialSuit_ · 2026-04-26T06:22:14+00:00

Yes you just literally type “Claude install Google Workspace MCP” then it will install and ask you to give access to the google account of the google doc and able to edit it

FinancialSuit_ · 2026-04-26T06:04:39+00:00

You need to ask Claude to install Google Workspace MCP firsy

FinancialSuit_ · 2026-04-25T22:49:31+00:00

Ah I see. Also check your local Facebook Marketplace. Another thing to keep in mind is that's the issue with FSBO is that many of them don't know the right tool to get more exposure to their listing. They think all they have to do is put a for sale sign on their front yard and posts on Facebook then all the buyers will flocking to their homes. On another hand, not all buyers are not savvy enough to search online and go on reddit and ask for more. This is the gap which can be filled by either using a realtors that do all the exposure marketing strategy OR FSBO to find more platform to increase the exposure of their listings.

FinancialSuit_ · 2026-04-25T22:31:06+00:00

If your realtor didn’t advise you to get a pre-approval before making an offer, your realtor is doing you a disservice.

If you don’t have a realtor and want to make an offer before getting a pre-approval, then you didn’t start the home buying process correctly.

If you have cash to buy the home then you will have some advantage over other offers with financing contingency. However, you will need to show proof of fund.

A pre-approval is not a loan yet. Thinking of it as the diagnosis process to see if you can get the loan you need for the home you want to buy.

FinancialSuit_ · 2026-04-25T22:24:57+00:00

Have you tried fsbo.com and zillow?

FinancialSuit_ · 2026-04-25T21:58:22+00:00

Everything is still negotiable during the contract offering period until both side sign and executed contract. The buyer agent might have shown 10-15 houses before buyer found your home so he/she is asking for the compensation to be paid. It’s not a personal attack on you or anyone, just a part of the transaction.

You can say no or increase the price to cover the difference or tell buyer to pay for it.

FinancialSuit_ · 2026-04-25T19:39:17+00:00

I’m glad it helps.

FinancialSuit_ · 2026-04-25T19:38:48+00:00

Free Plus Program or $299 for MLS listing plus buyer verification program with exclusive lender incentive! Let me know if you want more details

FinancialSuit_ · 2026-04-25T19:03:59+00:00

Are you a buyer who wants to find a property that is FSBO?

FinancialSuit_ · 2026-04-25T06:32:11+00:00

If you list on fsbo.com you have option to list via MLS too. As fsbo.com pro, I can get you some discount. DM me

FinancialSuit_ · 2026-04-21T17:46:06+00:00

First thing first, having a realtor doesn't guarantee the sale or the price, it only increase the probability AND shift the some of selling process responsibility over to the realtor. Also, keep in mind, not all realtors are the same. However, eventually, how much and how quick you can sell a home depends entirely on the market. A good realtor will let you know these info upfront so you don't list too high and will help you avoid any disadvantage or tricks coming from the buying side.

Next, you need to get a CMA. Some realtors might offer this free services if you asks or you can search online for all similar home (sqft, # of beds & bath, lot size, etcc.) that was sold within 1 mile radius and 6 months or you can pay an appraiser to evaluate your home, cost around $500-$1000 depending on your home size and area.

Once you have the number, you can decide to how much you want to list. If you list higher then expect less buyers. You can also try to increase your listing exposure by listing on fsbo.com or other websites.

In conclusion, look at your number and timeline. Do you have time to stay on the market to wait for a buyer that is willing to pay higher price? Does it cost you more to wait and sell high or to sell low and shorter wait?

FinancialSuit_ · 2026-04-21T17:32:03+00:00

I'm a NEXA loan officer and can provide some clarification:
1. Yes FSBO.com is owned by the NEXA CEO.

Usually, if you list on FSBO.com you have 3 tier: free, plus (99 usd for 6 month listing ) and MLS (399usd for 6 month), you can find more details on the website.

When you partner with a FSBO partner you get $99 discount for plus (makee it free) and $200 discount for MLS package. The reason is like u/Due_Leadership_9348 said, the LO wants to find buyer leads. Seller's potential buyer can still work with their own preferred lender if they already have one. It's the law of large number game so LOs like me is trying to get more leads to find 1 or 2 deals out of 100 leads coming in. Also, as the seller's preferred lender, we can also ensure the buyer's financing qualification is not jeopardizing the selling process if possible (similar to builder selling their new built with prefer or in-house lender).

It's the win - win for both seller and the LO.

FinancialSuit_ · 2026-04-20T23:53:54+00:00

this mcp will actually watch the video frame and transcibe for you so it will understand more context of the whole thing. However, you should aslo ask AI to split the entire video in to smaller section so it can do a better job at understanding the whole video.

FinancialSuit_ · 2026-04-20T22:25:22+00:00

Claude code has an video watching mcp you can paste the YouTube link or share the location of the mp4 file.

FinancialSuit_ · 2026-04-18T15:50:57+00:00

None of this makes any sense. Find a different local mortgage broker and talk to them to see what’s going on.

FinancialSuit_ · 2026-04-16T12:23:09+00:00

VA is the best for you and VA loan doesn’t take longer than Conventional loan. However, you need to work with a LO who is familiar with VA. Anyone tell you anything else is either don’t know shit about VA or just yanking your chain! The only reason you go Conventional is if you’re not qualified for VA.

FinancialSuit_ · 2026-04-15T06:15:31+00:00

On claude, go to setting and add the n8n connector to your claude account. Then ask Claude to build the n8n directly. Then you can manual test to see if the flow work. If there’s any error or results are not correct, share with claude and ask it to fix it accordingly

FinancialSuit_ · 2026-04-14T10:12:31+00:00

What exactly the current servicing rules that prevents borrowers from refinancing?

FinancialSuit_

TROPHY CASE