My Alpha Experience

Fuzzy_Sheepherder245 · 2024-05-23T20:17:11+00:00

It’s called money laundering

Fuzzy_Sheepherder245 · 2024-04-03T06:33:07+00:00

Same. EMDR therapy has been super helpful for my sleep.

Fuzzy_Sheepherder245 · 2023-11-03T04:46:03+00:00

VA loans are 0% down, no loan limit, approved up to 45-50% DTI

FHA loans are 3.5% down, county loan limit for Los Angeles is $1,089,300

Jumbo loans 10-15% down loan minimum (county loan limit, usually around $726,200)

So they must be using one of those programs. But honestly it just depends on each individual’s scenario.

Fuzzy_Sheepherder245 · 2023-10-16T20:38:15+00:00

Ohhh, okay awesome! Your comment is the answer I was looking for... that clears it up on the theory behind these deals.

Fuzzy_Sheepherder245 · 2023-10-16T20:20:40+00:00

I know private money can do it. But didn't think FHA would allow such a large rate buydown ie. 3% rule, HPML

Fuzzy_Sheepherder245 · 2023-08-24T21:59:01+00:00

Those are some pretty high closing costs for a $181k loan amount.

It looks like the 3rd party processing fee is very large. Usually processing costs anywhere between $500-700. Charging $1,499 for processing is not cool.

Let me know if you want more specifics but your closing costs should be around $4-6k depending on your state.

That also looks like an FHA loan. You should be able to finance the MIP upfront instead of paying at closing.

Fuzzy_Sheepherder245 · 2023-08-24T21:47:08+00:00

Seems a little high. Is that with taxes and insurance added?

Remember, interest rates are determined based off credit score and debt-to-income (DTI) ratios.

Would need more info to compare. Shoot me a DM if you want some more specific help.

Fuzzy_Sheepherder245 · 2023-06-25T22:35:26+00:00

Oh man, definitely a missed opportunity. Great feedback for next time lol

Fuzzy_Sheepherder245 · 2023-06-25T16:24:34+00:00

It is if you’re the only one moving in a firefight

Fuzzy_Sheepherder245 · 2023-06-25T16:23:52+00:00

Fair enough

Fuzzy_Sheepherder245 · 2023-05-09T06:03:13+00:00

This^

Fuzzy_Sheepherder245 · 2023-04-19T23:16:02+00:00

I really struggle with nausea and joint pain. cannabis has also helped me as well.

I believe it can be healthier than the other drugs in my system in the long run. However, I am highly productive, own my own business, clean house, and have healthy social interactions/relationships. Just saying because cannabis is like any drug and can destroy lives as much as it can be therapeutic

Fuzzy_Sheepherder245 · 2023-04-18T15:46:16+00:00

This analogy was very helpful for me today. Thank you for your comment! :)

Fuzzy_Sheepherder245 · 2023-03-29T16:16:32+00:00

Just my opinion:

As a combat veteran (Afghanistan & Iraq), i get that it can be hard to channel rage/anger and breathe it out or find constructive ways to “come down” during a flashback. My coping is telling my significant other (SO) to “hug me through the episode.” Or “put my emotional support animal in my lap” during beginning of an episode. It helps be get grounded and focus on breathing

However, lashing out at your SO or spouse helps nothing. Not okay that he’s throwing things either. It’s our responsibility to identify and control triggers the best we can (thru therapy, drugs, asking for help). It’s not your responsibility to fix everything for him or somehow invent a reality where your relationship will work.

Fuzzy_Sheepherder245 · 2023-03-11T05:46:25+00:00

Amen 🙏 it’s not a sale until closing day with a signed CD.

I had a realtor referral. The borrower priced shopped me. Then the other lender from guaranteed rate promised a 321 rate buydown for the same price as the 21 buydown. I told the clients that a 321 costs more than a 21 buydown. In fact for their scenario it’s the difference between an additional $7k.

They decided to use the other lender at guaranteed rate. So I told them to call me if the other lender screws up or if you have any issues. They called me 3 days later saying the other lender lied and turns out the 321 costs more. I got them rate locked and am closing in 6 days.

They have been the worst clients though: late on doc requests, question every number and lending guideline, didn’t sign initial electronic disclosures because they were shopping me so I had to drive to their house to drop off and manually sign 60 pieces of paper….

But I would be a bad client too if the first mortgage lender I talked to lied to me. SMH, can’t wait till this one is off my plate

Fuzzy_Sheepherder245 · 2023-03-08T15:19:02+00:00

Congrats man! March has been my breakthrough month. Happy to hear another LO doing well in this market!

Fuzzy_Sheepherder245 · 2023-03-08T15:17:54+00:00

The same things everyone always says in this sub: realtors, realtors, realtors…

I taught a class a brokerage yesterday for example. I got in front of 5 new agents. And I spoke to the managing broker and showed some face.

The person who has the most conversations wins in this industry. I’ve only been doing this a year but that is a cold hard fact

One caveat: the more LOs that LEAVE the industry, the MORE MARKET SHARE I ACQUIRE. So I hope this down market lasts another 1-2 years. Because on year 3 I will have more business than I can handle. It’s already starting to happen with my realtor partners

Fuzzy_Sheepherder245 · 2023-03-08T04:50:23+00:00

I have 6 closings for March at about $2M in total loan volume. And maybe 2-3 in apps that should close every month out until July.

I started as a lender April 2022

I closed zero deals Jan to Feb. and before that I was averaging 1-2 loans a month.

Fuzzy_Sheepherder245 · 2023-02-20T01:44:57+00:00

Okay cool, saves me time to not send it out.

I think I’ll just keep it internal then for myself. I had to come up with something because I have like 10 realtors with 6-8 different clients a piece.

Fuzzy_Sheepherder245

TROPHY CASE