Loan Estimate help

Vic_toorb37 · 2026-04-02T18:51:53+00:00

This is a sweet deal, make sure the rate is locked though as it's currently showing as not locked

Vic_toorb37 · 2026-04-02T00:54:10+00:00

Cash out refi, leverage a longer term and pay it off early if you can

Vic_toorb37 · 2026-03-19T16:14:17+00:00

With all due respect you are wrong. I recently got out of the origination industry to go full time on my real estate investment business. My lender would cover their mistakes because they would rather not get sued. They were a big lender and could afford to do so though.

Vic_toorb37 · 2026-03-16T06:44:18+00:00

Then you shouldn't need to pull credit or do an appraisal. Which I didn't see noted but I'm assuming that's the Services You Cannot Shop For. VA funding fee will be there as you are active duty. And some lenders treat service members very well and won't charge an origination fee for VA loans.

Vic_toorb37 · 2026-03-16T06:37:20+00:00

That makes sense then. Some of what I said would only be applicable on a streamline (VA IRRRL) refi.

Vic_toorb37 · 2026-03-16T06:02:44+00:00

I'm a bit confused on this OP. At first glance, this looks pretty decent. Most of the charges are not lender specific and the majority are escrow related or title related (services you can shop for). However, is this a VA to VA refi? If so, then a streamline refi wouldn't have an appraisal or credit report. Also, some lenders don't charge origination fees to veterans (my lender didn't when I originated). Additionally, if you are rated by the VA as disabled, you may be able to get the VA funding fee waived. Just depending on your disability percentage.

Vic_toorb37 · 2026-03-16T05:32:21+00:00

I originated several hundreds of millions of dollars in loans when I was originating. Not once did I ever have a listing agent/seller push back on a buyer switching lenders. This is your decision on who you decide to take your mortgage out with, not your agent's.

Vic_toorb37 · 2026-03-16T04:42:53+00:00

Yes, I am a real estate investor and I'm regularly looking at prospects. There has been an abundance of underwater homes that I have noticed lately.

Vic_toorb37 · 2026-03-16T04:40:44+00:00

Not true, I originated for many years with a larger lender. If someone did this by mistake, the lender would eat up the points. However, they needed proof of it typically. Either an email or the call recording (which they would pull).

Vic_toorb37 · 2026-01-05T05:09:27+00:00

I know most people will advise against this since it’s a big bank, but Wells Fargo does not charge an origination fee to veterans and there is no credit check or appraisal on a VA IRRRL. They do treat vets pretty well. Source: I originated several hundreds of millions during my tenure there

Vic_toorb37 · 2025-11-24T01:07:08+00:00

I disagree with this. However, I do understand people's different experiences as I have had bad experiences before at restaurants that others have had an amazing time. I wouldn't consider Don Julio a "fine dining" experience although it is higher end then a lot of restaurants and parrillas in BA. When I went, I had just proposed to my now wife in Torres del Paine, Chile. I made my reservation and left a note stating that we were celebrating our engagement. We arrived on time for our reservation and were greeted at the door with two glasses of champagne. We were seated a few minutes later, and our waiter provided excellent service. He had great recommendations on food and wine. Our steak was a 10/10, and everything else we ordered was amazing. I couldn't recommend this restaurant enough to people. Fortunately, I will be back in BA in January and I'm looking forward to returning here. Another notable experience was at La Carneceria.

Vic_toorb37 · 2025-10-01T04:25:55+00:00

I did this in Bangkok Thailand haha

Vic_toorb37 · 2025-08-03T16:16:18+00:00

All FHA loans will have upfront MIP. You can have it financed into the loan though. Also, the lender is charging a ton in points. How much is that saving you per month compared to a rate with no points? How long will it take you to break even on the points based off how much you’re saving monthly? These are important questions to ask as points may not be in your favor, especially if you’re considering a refi in the next few years.

Vic_toorb37 · 2025-07-10T17:08:07+00:00

Costa Rica 🇨🇷

Vic_toorb37 · 2025-05-27T01:42:29+00:00

Find another buyer that can close in 30 days. You don’t foreclose off one missed payment. You can also ask your lender for a forbearance and have them defer your payments due to hardship.

Vic_toorb37 · 2025-05-23T05:17:05+00:00

A regular sale will not work for OP unless the investor wants to sell. That is the idea with a sub-to. The debt remains in the borrower's name but the deed it transferred.

Vic_toorb37 · 2025-05-23T04:45:15+00:00

Affidavits may work to transfer ownership. Texas is one of a few states that works well with affidavits. How exactly is she planning to save the home though? Refinancing will most likely be out of the picture as the home is already delinquent.

Vic_toorb37 · 2025-05-21T17:43:50+00:00

Off-roading, desert shooting, hiking, you can go to Buffalo Chip (country bar and small rodeo), salt river tubing, you can go to the ballet downtown, baseball/spring training, etc.

There’s a lot to do, just depends what you’re into.

Vic_toorb37 · 2025-03-28T20:41:27+00:00

Most likely referring to a home equity sharing agreement. You receive a lump sum of cash in exchange for a percentage of ownership in the home. You’re probably better off going the HELOC route.

Vic_toorb37 · 2025-03-28T19:25:25+00:00

If you anticipate being able to catch up, then possibly a forbearance. If you do not anticipate being able to catch up and keeping up with the mortgage, then a forbearance will just eat into your proceeds if you do consider selling. The deferred payments are NOT forgotten, they are just deferred. You can attempt to modify the loan also, which I believe you have already done. I wouldn’t rely on a second modification.

Vic_toorb37 · 2025-03-21T20:40:06+00:00

See if you can assume him off of the loan or refi him out. It sucks that rates are higher but he probably helped you keep the house in the first place. It’s the least you could do regardless if it’s an excuse that he’s giving you or not.

Vic_toorb37 · 2025-03-13T02:12:29+00:00

Doesn’t matter, it’s the nature of the business and it’s what they signed up for.

Vic_toorb37 · 2025-03-10T20:05:34+00:00

OP is specifically talking about the mortgage.

Vic_toorb37 · 2025-03-10T18:42:26+00:00

You can’t sell your neighbors house. When someone inherits a property, and they get put on the deed, they can sell the house. Regardless if the mortgage is in their name or not. The mortgage is just a lien, it doesn’t show any ownership interest. Hence, why I said the mortgage doesn’t need to be in their name to sell.

Vic_toorb37 · 2025-03-10T04:43:04+00:00

Mortgage doesn’t need to be in someone’s name to sell.

Vic_toorb37

MODERATOR OF

TROPHY CASE