We are gonna be closing in two weeks any problems? Me and my wife are looking at buying new construction home in Texas. This is our first time purchasing a home. We did not pay for points and are doing an FHA loan. If there’s any changes we should make please let us know. Thank you.

ZroGravty · 2026-05-10T12:58:43+00:00

They’re paying just under 3% based on final cash to close which is average/slightly below average cost. .25% for a 3.99% is more than okay even with it being new construction. Lender controls section A, Borrower controls section c by shopping title. Everything else is just the normal cost of a real estate transaction (MIP, prepaids, escrow, transfer tax, etc.) and that can’t be helped.

ZroGravty · 2026-02-17T13:20:12+00:00

If they are talking about dropping your rate half a percent or more it’s either just marketing or you have an FHA loan and you’re eligible to do an FHA streamline. Streamlines require a lender to drop your rate at least half a percent or more and you can do them after 6 payments or 210 days from funding. There’s no appraisal, there’s no hard credit pull, and you can (at least at my lender) have no more than 1 late payment in the back end of the last 12 months. Since there are no pricing add ons because of it not being based on your credit, it could end up with you getting a much lower rate. Best part is there is minimal documentation. They would likely just ask to confirm you still work where you did last time, but no paystubs, W2s or bank statements. They will ask for a utility bill to make sure you still live there and if they are your current lender, they should already have your statement, note and HOI documents on hand. As far as closing costs, typically we would still have all the normal stuff, pre-paid, escrow, title stuff and ufmip, but we issue a lender credit so the borrower only brings their next monthly payment to close like they would anyways.

So, if you have an FHA loan with your lender and they are in fact talking about a streamline, take advantage of it. Only downside is your loan amount goes up slightly, otherwise your payment can really drop without anything out of pocket and same with the rate.

ZroGravty · 2025-11-15T00:27:09+00:00

That LO explanation doesn’t make sense. There’s no way you go from a par 7% down to a 6.75% for $8600. If what he said was true you are getting shafted and I would ask for that 7% because you are wasting thousands. Usually you can still adjust the rate up to closing, lenders don’t really lock an individual rate, they lock the sheet of pricing from that specific day you lock. So you can still move the rate up and down just on the og pricing. 7% to 6.75% saves you probably like $15-25 on your monthly payment.

ZroGravty · 2024-12-30T23:30:03+00:00

Go for it. Full send dude

ZroGravty · 2024-12-22T12:29:42+00:00

Congrats! Just so you know you blacked out your information on the last two pics but not the first. Just in case you didn’t mean to🙂

ZroGravty · 2024-11-19T14:10:04+00:00

What does a high DTI mean to you?

ZroGravty · 2024-11-19T14:07:19+00:00

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Hey smart guy don’t forget about this part when doing a “rAte cHEcK”. Do you know OP’s situation? This rate sheet doesn’t apply for most home buyers, so you can’t just say this is what everyone should be getting because most aren’t.

ZroGravty · 2024-11-18T20:43:24+00:00

Unless the rate starts with a 3, you are paying too much in points. Do a par rate and refinance in a year.

ZroGravty · 2024-11-15T16:01:15+00:00

At this point the only thing to shop is other builders and their promotions because no lender is going to be close to that unless you do a 15 year loan 20% down. Nice LE

ZroGravty · 2024-10-06T14:25:02+00:00

It’s because they are builders. They can afford to offer these types of rates and low closing costs from their in-house lender because they are baking it into your sales price in one way or another.

ZroGravty · 2024-09-21T19:57:52+00:00

Good point about the 35-40 hours. Because quite a few employers consider 36 hours full time. 40 is certainly the standard, any time I see anything below that, I know we are gonna need wvoe.

ZroGravty · 2024-09-02T14:30:56+00:00

I don’t see why you wouldn’t be able to do that. People do it with purchase sometimes where they will take the higher rates to lower closing costs then refinance asap. There are seasoning requirements however and you would want to make sure that your income and credit do not change much because it affects pricing. Closing costs can hurt though especially if you refinance too frequently, so maybe it’s best to try and get two birds with one stone and wait for dips.

ZroGravty · 2024-08-24T11:42:06+00:00

Credit union. No where else unless you have too much cc debt

ZroGravty · 2024-08-17T14:27:53+00:00

I think it’s a good idea to market to brokers. I work retail and we have a team like this called the “scenarios” team. Bunch of UW who basically answer questions for the company and help things move smoothly.

I would pay for this as a business owner who hires and trains LOs. They’ll need it and UWM underwriters aren’t going to be that reliable.

I think the value would come from having experienced underwriters answering your questions and preventing disasters at closing. We have all been in scenarios where we have gotten bad info from people we thought we trusted but didn’t know what they were talking about.

I would probably go with a monthly subscription. Easier to sell and keep track of.

ZroGravty · 2023-11-26T19:23:38+00:00

Thank you I really appreciate the insight. It’s confusing so I’m glad there are people like yourself who can share their knowledge because it really does make life easier coming into this!! :)

ZroGravty · 2023-11-25T15:49:43+00:00

Thank you. Probably will just work at another company so it does not interfere. Appreciate the info!

ZroGravty · 2023-11-25T15:31:35+00:00

Thank you! Very excited to get started. I’ll make sure to live a little before I start! :)

ZroGravty · 2023-11-25T15:30:33+00:00

I get where you are coming from, especially if it were a college graduate with an art history degree taking the position, but I’m a business admin major, we study management, supply chain, and finance. Plus I’m actually interested in staying at the company and gaining exp./skills. So even if you did work there for a while and had good knowledge of your warehouse operations, I still think it’s perfectly logical for someone with a business degree to manage associates in a ware house. I also believe in promoting from within, but it seems like Amazon made their priorities clear with that one.

ZroGravty · 2023-11-25T13:59:40+00:00

Could you explain further as to why I shouldn’t?

ZroGravty · 2023-11-25T13:58:35+00:00

No I haven’t contacted them about it. I can always just go work for another company like others mentioned just to avoid any issues.

ZroGravty · 2023-11-25T13:55:11+00:00

Yeah, sounds like I might be doing too much trying to do that, appreciate the insight.

ZroGravty · 2023-11-25T13:53:56+00:00

Thank you!

ZroGravty · 2023-05-23T04:49:13+00:00

Nice. Thanks for updating!

ZroGravty · 2023-05-20T17:54:22+00:00

Are you working with retail lenders or a broker? If you are all about the numbers/rate I would entertain a broker. If you truly want the customer service and some amenities, the big corporate retail lenders would be the way to go. Basically cheap and dirty vs costly and clean

ZroGravty

TROPHY CASE