When to Apply for a Mortgage | How to Choose a Lender for a Mortgage | How To Get the Best Rate
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- Äas pĆidĂĄn 10. 01. 2021
- đąReady to Buy a House & You Don't Know Where to Start? Start Here! My FREE Download: bit.ly/3QWqfbq
đšDo Not Buy a House without My First Time Homebuyer Masterclass with Digital Confidently Closed Handbook, Because After Closing is Too Late: bit.ly/47s4pT7 đš
Ready to Buy Your First House? Watch these videos & Visit my playlists!
â8 Steps to Buy a House - âą How to Buy A House | B...
â Where Should You Start? - âą First Time Homebuyer C...
â Most Important People in the Home Buying Process - âą Home Buying Process - ...
â What is Included in your Mortgage Payment: âą What is included with ...
âNew Construction - âą First Time Buyer New C...
âFHA or Conventional - âą Which is better FHA or...
âBuying a House with Student Loans - âą Buying a House with St...
â7 Day Perfect Credit Plan - âą My ONE WEEK PLAN - How...
âCan you afford a house: DTI Ratio - âą How Much Home Can I Af...
âWhat happens at closing - âą What Happens During a ...
âNACA Home Buying Program - âą NACA | NACA Program | ...
âShould I Rent or Buy? - âą Should I BUY a HOUSE O...
â Get Your Real Estate License Online- âą How to Get Your Real E...
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Thanks! as always you are very helpful and a great communicator! đđŸđđŸđđŸ
Thank you ma'am!
can a person buy there own apartment to live in if they dont want to buy a house or would they have to buy a condo if they dont want to buy a house do you know anybody that sells single unit apartments.
@@ShaheedahHill can you share the government site that provides mortgage lender comparison, I donât see this tool anywhere
Hi Shaheeddah, I would like to inform you that from all the people who do videos about Real Estate and other similar videos, trust me, you are the best. Especially for immigrants, and people who speak English as a second language. The English language that you use to explain the process, is very simple, understandable, and very informative. Thank you so much.
This is really good to know. I am happy that this channel has been helpful. Thank you so much for watching!
Its insane how rates are now 6.5%+
This was AWESOME info!!;đđŒđđŒđđŒđđŒđđŒđđŒđđŒ
Thank you for your advice, new subscriber, keep up the excellent work đ
Love your videos! Thanks for keeping things simple and straightforward!
Thanks for watching
I love your videos! So informative, thank you!
You are so welcome!
This is Awesome đđœ. Great information
Glad it was helpful!
Always clear and concise. Thanks for breaking this down so easily.
Glad it was helpful, thank you for watching!
Thank you soooooo much!!! You are so helpful! I am binge watching your videos from Texas and feel more confident as we look for a home.
Thanks for watching!
You rock at this! Thank you for the clear explanations.
Thank you
Very Informative! Thank you!
Glad it was helpful!
Love your videos . You are super informative and ease my nerves of becoming a future first home buyer
Thanks for the kind am words and for watching. It's appreciated. Best of luck on your future home search.
Up at 4 am .. learning. Thanks for the great information.
Good morningđ
You are absolutely đŻ unmatched.
I appreciate that
I have been watching your videos for a few weeks now! I love it! You have provided great information! I am looking to purchase my home by June 2021 in Lawrenceville,GA and I feel ready with all the information you have shared.
Keep going! Thank you!!
Awesome! Thank you!
great information. Thank you so much
Wow very informative! You get into the nitty gritty I love it thank you â€
Thanks for watching!
Hi Shaheedah I have been watching your videos soo much you content is so educational im doing it like, im actually doing the THANG i was able to speak with 2 lenders im currently doing some HW to see which one has the best rates for me ect. I just found out my RTI (you taught me what that was) and though my RTI is slightly high, now I know what i need to work on financially for the next couple of months to get myself into a closer step to home buying. just wanted to say THANK YOU for information and for helping me and others find a way to home buying ...Blessings !
Thank you Jennifer for sharing and giving me feedback. I love to hear it! Please update me when you close đ đ (DTI - but I know what you meant)
I'm first to view and comment on this very important information. Thank you đ
Thanks for watching!
You always give good advice
Thank you!
Your videos give me so much reassurance for the home buying process. Thank you so much!!!!
Thanks and best of luck on the journey!
this is absolutely amazing information. I hope for only the best for you
Thank you so much!
Thank You For Such Valuable Information. đč You Are Simply A Tremendous Blessings To So Many. đ
Thank you so much for your support of my channel!
Audio quality is fantastic. Great info as always!
Thank you, I am more of a Realtor than I CZcamsr but I am trying to up my set up for a larger audience. Thanks for the encouragement.
Thank you so much I wrote down the questions to ask before talking to a lender. I feel more confident now before I was just so confused on what to ask.
That's great, best of luck!!
Thank You so much. We are in the lender process now and you just gave me the information I was wondering about. Again, thank you for these videos. We are buying our first home with all the knowledge you are sharing. I appreciate you so much. đ
You are so welcome, best of luck!
I did not know about the link for checking rates in each state. That is a great resource, will definitely share with my clients. Thanks for sharing!
Thanks
Lots of great info. I wish you all the best.
Thank you! You too!
God Bless you đđŒâ€
Thank you kindly for this informative video. I feel you covered some really good questions for a first time buyer. I've watched other videos regarding this topic and choosing an agent. I must say there's no comparison. Thank you for sharing đđŒ
Thank you so much, I really appreciate that.
Great job Shaheedah!đ
Thanks!
Thank you! I have learned so much from you keep up the good work. I am a first time home buyer and planning to buy in the Douglasville or Lithia Springs area in August. I will be reaching out!!!
Great to hear, thank you for watching!
This lady has ALL the good stuff! I need to remember to bring my notepad to the next video. Thanks, Shaheedah!
Thank you
We just started following you- we're realtors here in Chico CA just checking out what other agents from other areas are doing in You Tube land. This is a great video! Great info and well delivered đ
That is awesome! Thanks for following, with the market constantly changing CZcams is a great place to educate!
I have been following you for a while now and my husband and I have just started the process thanks to you. You are absolutely amazing!!
Wonderful! Best of luck on the journey!
Very helpful, thank you!
Thanks for watching
I need to go to bed though, i cant stop watching ur video.
Cus it is So informative, plus i like ur voice with clear pronunciation:) đ
Thank you! Get some sleepđ
AWESOME CONTENT!!!
Thanks for watching!
Thank you so much! I'm ready to start this process in MS or TN!đ
Let's do this!
@@ShaheedahHill â€
I am always impressed with your professional experience and usability of your material đ
Thank you very much!
Thanks for being yourself on camera! #beyourself
Thanks for watching, yes that's all you can be. You can fake it for a little while but being authentic is so much easier.
Thanks so much for sharing.
Thanks for watching
Great information!
Thanks for watching!
I appreciate your information so much. It's precise and helpful. And your beautty is out of this World as well.
You are so welcome, thank you for watching.
I wish you were in Pennsylvania. Thank you for this.
Thank you for watching!
I have been watching 3 realtors here in YT and so far your the most informative one! I love how you lay out the information. Question, our lease is up by September and we want to start talking to Lenders around June, will that be a good timeline?
Yes, that may be enough time depending on your local market. I would ask a realtor how much inventory is available in your price range, the more inventory the better chance you have of find a home quickly. Also, download my "Where to start checklist" so you have a good idea of where you are financially before doing a mortgage application.
Awesome video
Thanks for watching
Thank you for sharing! My goal is to be a homeowner towards the end of this year so Iâve been binging your videos since last year. Theyâre always very helpful.
Thank you Tasia
đđŸđđŸđđŸ
đ»Thank you for the info, Queenđđđ
Thank you!
Another homerun of a video! Thank you so much for taking the time and putting in the effort to inform us "newbies" in search of our first home. Question though; I was just pre approved by a mortgage lender however I never received the approval letter with the terms of the loan, I've emailed my lender about this and have not heard back from him. Should I continue my search and apply with another lender or just be patient and stick with this company?
If you are ready to start the home search, see if you can get in touch with the lender to get the terms. Try contacting their assistant or manager. If still nothing quote with another company, try someone your Realtor suggests.
Thank you đ thank you đđŸ
You are so welcome
I love your videos
Thank you for watching.
Thank you! I will be 2 years post bk7 in October and I am trying to get a fha loan. Your videos have really been helping me to prepare! Do I have to wait until after October to apply or can I apply before just to get my estimate?
very informative
Glad it was helpful!
EXACTLY what I needed! We are interviewing/choosing Mortgage Lenders now!
Good luck ita a long annoying frustrating procesa
I just picked the best one online lmao đ
@@biancalord488 Which one did you choose?
@@rebeccabannister5304 cashiers check
I had got a Pre approval last week with BOA. Havent find a realtor yet. Reason I went BOA was with the DP and closing assistant of up to 17,5k. Really looking to get find home and close before November.
Please watch my most recent confidently closed video... always get at least 3 quotes and make sure the BOA is an approval and not a pre-qualification.
Well done
@gona9219 Thank you for watching
Thank you, Shaheedah for ALL the valuable information! Is Synovus a good lender?
Thank you, yes they are but I would still say get 3 quotes.
@@ShaheedahHill You're the best! I really appreciate the speedy response.đđŸ
Great video. Helpful information. How long can you lock in a rate when you are buying a new construction house or do you have to wait until the house is built before you can lock in a rate?
Most rate locks are 30-60 days so when the builder gives you a closing date you should be able to lock 30-60 days prior, but leave some room just in case building is delayed.
Do you cover only Georgia or South Carolina as well ? Love your videos â€ïžâ€ïž
Only Georgia, thank you for watching!
Love your advice! How many mortgage applications can you apply for at once to see our options??
3 should be sufficient if you are ready to buy, if you are just testing the waters do 1.
Thank you! :-)
Thanks for watching
Wish you were in NEW York City, do you have any recommendations by the way? Thank you
Thank you, not at this time.
Can you go over tips for buying a house site unseen and also what makes a good real estate agent, specifically the level of engagement with the buyer. Thanks for all the excellent content :)
I have 2 videos that may be helpful to you, Buying a house out of state and what to expect from your buyer's agent. czcams.com/video/db2251NWpaE/video.html
czcams.com/video/11ZVj8pGnfg/video.html
@@ShaheedahHill thank you đ very good information
Thanks for your content and page. I just want to know what I can be qualified for and how much.
If you don't want to do a mortgage application now, you can figure it out on your own here - czcams.com/video/S3glBuf2fRw/video.html
Good morning love your channel âșïžđ» so does a lender only get paid if the client closes on the home? I'm working with 3 lenders now trying to get a good rate but don't want to waste anyone's time
Yes they only get paid when you close. Don't worry about wasting anyone's time... they know everybody doesn't close... it's part of the business.
First offer got outbid by cash. Just made an offer on a different house. Fingers crossed!
Best of luck!
Great info as usual. I need to get moving on the step! đł
Let get it! Thanks for watching
Great video. When you complete pre-approval applications with different lenders, does it count as a "hard pull" on your credit each time? Doesn't this lower your credit score?
You have 45 days to apply with lenders and it only count as one hard pull www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/
Hi, can you give me a tip about what are the best three lenders in the State of Minnesota? Thank you.
No, but my advice is to find a Realtor first and they can make some suggestions for your area.
Can you do a video if you havent already when it doesnt make sense to do 20% down? The pmi is a huge factor but if you put 5% down you can just pay it off upfront. Does it make sense if you dont plan to live there more than 5 years?
You have do the math and see what makes more sense for you. If you put less than 20% down you will pay PMI in most cases. If you only plan to live there for 5 years, how much will you pay in PMI? There are several mortgage calculators to help you figure that out. Also you have to factor in if there is a better place to put the 20% with mortgage interest rates being so low.
Hello, are the property taxes in Fulton county higher, opposed to Cobb county ?
Typically yes they are higher in Fulton. But you can go to the tax assessors website for both counties and compare.
Bump the notes. Iâm sending this video to my phone lol...back to the video
đ
Can you recommend any realtors in south NJ, because no one is working as hard as you!!đ«
Not yet, working on a Realtor referral list. Thanks for watching
I am in the south NJ area and moving on to realtor number 3. The first one wanted me to buy a house way over my budget and the second one wanted me to buy a condo even though I told her plenty of times I didnât want a condo. She didnât care and kept sending me listing for condos.
My lender sucks, very poor service I have been with him since February. He also told me to pay off all my credit cards and my wife
Hey Shaheeda! I heard a few realtors (especially in GA) are not working with buyers who are looking to buy in the 200K or lower market because its a shortage of inventory. How do you feel about that? I donât want to get discouraged.
This is true, it is very difficult for this price point right now. So I don't think they are not taking them as clients it is more often that they buyers are not realistic about the current market and they will waste your time. For example a person that want to buy a a move in ready home in Cobb for $120K, not just possible, or some people want a lot for 200K and are not willing to go further out from Alanta. Homes are out there but I would only take a client that is realistic about the market at any price point. Please watch my what do ask your agent now it will help prepare you.
@@ShaheedahHill This is exactly what my realtor told me...
Shaheedah, what if you are planing to buy a multi-family and the rents on those apartments are going to be part of your income. Should you wait until you find the multi-family with the apartments already rented?????? Thank You in advance for your reply and thank you for all your videos and information that you give us.
It really just depend on your comfort level. The lender will count 75% of the likely rental income toward your income, rented or not rented at time of purchase. I say your comfort level because, do you want to know you have rental income coming in at closing or having to find renters after closing. But either way they will count 75%. Here is a video that I did on multi-family - czcams.com/video/hxMrdqyJqpo/video.html
Went to like the video but I guess I already had. MAN I need a lot of help lol đ thank you sOOO much for all the video and the excellent info
You are so welcome! Thanks for liking it 2x â€đđ€Ł
What if you are buying a new home ? Do you still need a realtor or just go with the seller/builder?
Definitely have you own agent, the builder will pay them so there is not charge for you. You need you own representation. I like to say using the builders agent is like using your spouses attorney during a divorce. Please watch my new construction video to learn more. Thank you for watching.
If the seller is NEW BUILD and they have a preferred lender, do you have to use their preferred lender? Can you still also have a 2nd option from another lender as well?
Yes, get some other quotes even if the builder if offering incentives.
I just started listening to your channel a couple of days ago. I have to say that the information is great but the audio is in poor quality. You need to dampen where you record in order to not have so much Echo. The rule of thumb is audio is the most important part of video. Thank you
Thanks, working on it.
I gets it depends on the receiver . Sounds great to me . But Iâm not in the Tech field lol
@@ldjones6442 Yes, Realtor turned CZcamsr, trying to figure this out. I think I need a padded room like in recoding studiosđđ
@@ShaheedahHill It is always great to work on improvements but I am also not bothered. I just listen to the info. Thank you for all the advice and encouragement.
Hi Shaheedah. If I work with a mortgage broker, will they get three or more loan offers to consider?
If you choose a broker, choose at least one outside lender as well. Broker processes vary.
Should I go through pre-approval first before looking for home to speed up the process.
YES! don't start looking until you are approved. Download my free where to start guide in the description. Thanks
So I filled out an application I am about 7 months out from when I want to buy, I wanted to see what I can do to help boost my credit score for, my credit was pulled and I heard nothing after. Can I dispute the hard inquiry? I got nothing in writing, no phone call or anything.
Follow up with the lender first in writing they should give you something either an approval of denial and why. If the lender is not responsive, go to a supervisor.
Does receiving pre approvals affect your credit? Is so how much?
Yes but not much, the credit scoring model allows for rate shopping for car loans and morgages. www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/
Isn't the preapproved loan only good for about 3 months? So getting the loan 3-4 months before we start actively seeing houses isn't too early?
Get pre-approved 3-4 months before you would like to be in your home is what I meant. That allows time for the home search and closing. Thanks for watching
Well most of the time the agent is connected to the lender they suggest ... wouldnât that be somewhat risky? Fishy? Why would I trust the agent?
Always get 3 quotes to reduce any risk. Your realtor has likely closed deals with the lender's that they recommend and know their, programs, professionalism and service.
Where and how do I get a mortgage application ?
From a mortgage lender, bank or credit union. I advise first time buyers to find a real estate agent first and they can help connect you to a lender.
Hey miss hill have you heard of naca and if so do you think that's a good program for first time home buyers
Please watch my NACA video and read the comments... im neutral on it.
Thanks
How do we go about hiring you? We are currently on spending freeze to save for down payment closing costs and all that. Plan for start looking in June!!
I have a link in the description to schedule a consult if you are moving to metro Atlanta. I look forward to speaking with you.
@@ShaheedahHill awesome!!! Have been following you for several months and am very excited to be speaking with you soon!!! Will be first time buyers!! YEY,,!!
I used a broker on a recent loan. He said he couldn't provide a L.E. prior to locking in on a home. I had a pre-approval but no L.E. until I locked in a contract with a seller.
You do need a property address and a price, sorry I didn't make that clear. You do not need a contract. Find a house in your price range and send the lender the address. Here is some info to back it up: www.consumerfinance.gov/ask-cfpb/my-loan-officer-says-that-i-cant-apply-for-a-mortgage-loan-and-receive-a-loan-estimate-until-i-can-provide-a-copy-of-a-signed-purchase-contract-is-that-correct-en-1985/
Do you recommend a mortgage broker for first time homebuyers?
That is one of the 3 places you should quote with. Thanks for watching!
I plan on using down payment assistance, would I have to choose a lender that participates in the down payment assistance program?
Usually yes, but every program is different.
Hi. Iâm confused about the when for comparing quotes. I had an offer accepted a few days ago using preapproval from lender that real estate agent recommended. But now Iâm wanting to compare and get the beat deal and real estate agent says I have until tomorrow and that even the seller is comfortable with the lender I have. Is it okay to change lenders at this point? I didnât know about comparing beforehand and just went with what real estate agent recommended.
You can but you need to move quickly because of the closing date on the contract. The best thing to do this point is to reach out to about 2-3 additional lenders using the quote/estimate from your current lender. See if they can give you better terms(rates/fees) and if they can close you on-time. Best of luck!
@@ShaheedahHill Thank you. You are amazing!
Do have an office in ga
Yes, you can email me - thehillteamatl@gmail.com
Do they still have mortgage brokers? In 2004, I got a great rate a better rate than the same bank would give to me
Yes, they still have mortgage brokers. Here is one that was on my channel recently @theloanstar czcams.com/channels/LwQn2wNOFZNRnhz4G3G8YQ.html
Hello Ms. Shaheeda! I am glade I found this video. My husband and I are looking for A single family farm house with about 5 to 7 acres to use it as our primary residence and also do a small livestock and poultry business. We are trying to find a way to apply for an FSA USDA guarantee loan. We were working with some lenders like lending tree, Huntington bank and total mortgage but we are lost on whether we should continue with them or is it better for us to apply straight with a USDA loan officer? Please let us know
We need some honesty and guidance plzzz
You need to find a USDA lender to help you, please watch my USDA videos.
Shahneedah, if I put $37k down for closing cost on a mortgage that is $1,805 can I negotiate the mortgage rate down to $1,300
Since you would be borrowing less, your payment would be less.
I'm confused. I've always heard that I should shop around and check out at least three different lenders. I've also heard that if they all pull my credit for pre-approvals within 30 days the pulls won't have as much of an impact on my credit. However, my realtor advised me not to have all three lenders do pre-approvals because of the hits to my credit. So how am I supposed to compare three different ones if I'm being advised to not do three?
I think she is advising you wrong. It will only impact your credit once if you do it in short period of time. You can shop around for a mortgage and it will not hurt your credit
Within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry. This is because other creditors realize that you are only going to buy one home. You can shop around and get multiple preapprovals and official Loan Estimates. The impact on your credit is the same no matter how many lenders you consult, as long as the last credit check is within 45 days of the first credit check. www.consumerfinance.gov/ask-cfpb/what-exactly-happens-when-a-mortgage-lender-checks-my-credit-en-2005/
@@ShaheedahHill Thank you. This is in alignment with what I've always been told. I wonder if she misunderstood me. Thanks again for the clarification.
Here is this guy that works for the fire department, first time home owner, were he/they are being told to go to this X lender that offer funds toward the purchase of a home, while not ilegal, is that stirring?
No, not necessarily. He should get 3 lender quotes, but lenders can offer incentives