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T
the_clockwork
Guest
anyone know where I can get one online, free?
T
the_clockwork
Guest
free
feisty11975
New member
for what? you need a blank one?
T
the_clockwork
Guest
I want one where I can type in the $ amount of the house / loan and it will estimate my closing costs, insurance (pmi and home owners), etc... basically show me my monthly payment w/ everything in it.. not just interest and principal
T
the_clockwork
Guest
SpyWizard said:
I can get the annual tax through the assessors office.. i have my eye on a house now.. is there a way to estimate annual insurance? isn't it $1 per $1,000 you spend a month?
T
the_clockwork
Guest
jnevin said:
Thanks.. I sent you the info
T
the_clockwork
Guest
SpyWizard said:
my lender pisses me off.. they fucked me on escrow
T
the_clockwork
Guest
jnevin said:
my payment was 1100 for first 3 years.. well turns out they didn't include escrow those first 3 years so I'm paying for it now AND for last two years so my payment is almost 1600
T
the_clockwork
Guest
foxxie said:
Then they will cold call me for the next year.. no thanks
calveless wonder
New member
You'll never get one without talking to somebody. Way to jump on it Jnev 
"closing costs" can vary based on program, loan amount, company you're working with, bank you're going through (different if its a broker), title company being used, and interest rate. You can't just get one....you have to have someone take an application and pre qualify you.
good faith estimate..
in the industry, the GFE = Good fuckin error(well, thats my name for it). Help me think of a better one.
It's the worst thing ever created, in my opinion. Why?
Because they are given to consumers(often, demanded) way too early in the process, well before the loan approval (which is when things often change). and most interpret as being set in stone. It holds absolutely NO worth or merit until the settlement (closing) statement is issued at the end, but often because consumers are sooooooo "closing cost" concious because they don't know any better, they think a GFE is a contract.
Shady brokers and loan officers use this to their advantage....low ball them and then once the appraisal is paid for and they're knee deep in the process, BAM...you get the call that "oh, this and this changed...because of x x x". Broker hooked them w/ an unattainable rate and closing cost total...most people are pissed they were lied to, but for $20 dollars on your monthly payment and all the headache they'd have to deal with, screw it right?
That's why it's super important when you're getting a mortgage it's someone you know is not going to be bullshit you.
People don't know what's involved in getting and closing a loan...and the work and stress it takes, on the backend. So they shop for the lowest/rate and closest costs in the beginning and usually end up getting screwed. Shopping for a mortgage is not like shopping for a stick of gum...a bad broker can really fuck up a person's life (i'm sure you've heard about the neg am loans..don't get me started on some of the ways this is sold)
Luckily, i avoid these people like the plague. most of my clients(or my jr broker's clients) know things CAN change, and that what they're being quoted is what it is for the most part....they normally don't shop me because we have a rappor, explain things to them and know i'm good.
"closing costs" can vary based on program, loan amount, company you're working with, bank you're going through (different if its a broker), title company being used, and interest rate. You can't just get one....you have to have someone take an application and pre qualify you.
good faith estimate..
in the industry, the GFE = Good fuckin error(well, thats my name for it). Help me think of a better one.
It's the worst thing ever created, in my opinion. Why?
Because they are given to consumers(often, demanded) way too early in the process, well before the loan approval (which is when things often change). and most interpret as being set in stone. It holds absolutely NO worth or merit until the settlement (closing) statement is issued at the end, but often because consumers are sooooooo "closing cost" concious because they don't know any better, they think a GFE is a contract.
Shady brokers and loan officers use this to their advantage....low ball them and then once the appraisal is paid for and they're knee deep in the process, BAM...you get the call that "oh, this and this changed...because of x x x". Broker hooked them w/ an unattainable rate and closing cost total...most people are pissed they were lied to, but for $20 dollars on your monthly payment and all the headache they'd have to deal with, screw it right?
That's why it's super important when you're getting a mortgage it's someone you know is not going to be bullshit you.
People don't know what's involved in getting and closing a loan...and the work and stress it takes, on the backend. So they shop for the lowest/rate and closest costs in the beginning and usually end up getting screwed. Shopping for a mortgage is not like shopping for a stick of gum...a bad broker can really fuck up a person's life (i'm sure you've heard about the neg am loans..don't get me started on some of the ways this is sold)
Luckily, i avoid these people like the plague. most of my clients(or my jr broker's clients) know things CAN change, and that what they're being quoted is what it is for the most part....they normally don't shop me because we have a rappor, explain things to them and know i'm good.
Last edited:
www.mtgprofessor.com
Tips:
dont roll closing costs into the loan.
Pay attention and study up. Could save you thousands. I did right before my second house purchase because I got screwed on my first house and refinanance.
Tips:
dont roll closing costs into the loan.
Pay attention and study up. Could save you thousands. I did right before my second house purchase because I got screwed on my first house and refinanance.
calveless wonder
New member
cindylou said:
thanks..i'm stealing their business model.
that guy, "the professor" is either completely ficticious, a friend or/paid spokesperson, or someone's identity their using as a front for a mortgage company or lender.
i thought of creating a similar site...similar angle,but who's going to really trust someone that's in the industry themselves? They make it look completely impartial and strictly educational when it's someone who's "not in the business".
genius marketing
so who can be my front man?
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