1. Mortgage Lenders – The Problem with Rocket Mortgage Nobody Talks About
  2. My Honest Review On Quicken Loans Mortgage – Pros And Cons Rocket Mortgage Review
  3. Rocket Mortgage by Quicken Loans? (pt. 1)
  4. Quicken Loans Review: Is Rocket Mortgage Really That Easy?
  5. Should You Get A Mortgage From A Bank Or A Mortgage Broker?
  6. Rocket Mortgage Review 2022
  7. My thoughts on Quicken Loans

Mortgage Lenders – The Problem with Rocket Mortgage Nobody Talks About

hey there i wanted to go over this i,posted this on social media today where,is it look at that barbie and rocket,mortgage its a little meme someone made,from the super bowl app and the,ad the the commercial if you didnt see,the commercial its all about how barbie,got a mortgage with rocket mortgage and,theres anna kendrick who i love,uh,talking about rocket mortgage and the,meme says something to the effect of,the fact that barbie got,approved by rocket mortgage tells you,everything you need to know about rocket,mortgage which is a sentiment i,heartily agree with,and i posted that on my social media and,i made a little comment on there that,if youre writing your offer with rocket,mortgage in a competitive market,youre putting yourself at a,disadvantage,that there are very few realtors who,will see your rocket mortgage,uh pre-approval letter and think oh,thats better than,any other pre-approval letter in fact,theres no one whos going to put it,anywhere but on the bottom of the pile,you know the ad is ridiculous because it,has the rocket mortgage beating out cash,which is,never going to happen but besides that,no ones going to take it over locally,locally underwritten mortgage and i had,a couple of friends ask why and i,explained it there but i want to go into,a deeper dive here why would a rocket,mortgage loan be,a competitive disadvantage for you in a,in a competitive market why would,someone why would a realtor discount,your offer well theres two basic,reasons okay theres the meta theres,the overview reason and then theres the,micro the local reason lets look at the,local first and then well talk about,the meta reason,the the local reason is because your,loan is controlled by the underwriter,okay its not your loan officer its,certainly not whatever happens on the,app its not with the person at the bank,when you walk in its not even the loan,officer at any lending institution its,the underwriter the underwriter is the,cu is the person that works for the,lender,and they have all the uh the,restrictions and all the constraints and,all the conditions and the requirements,that the lender requires to make sure,that if,that theyre not giving their money away,to the wrong people that theyre not,lending to one people so the underwriter,is the person who goes through your loan,application,with a fine-tooth comb to make sure that,you really do qualify for the loan that,the loan officer said you did in the,case of rocket mortgage its,that whatever the algorithm on the app,said you qualified for the underwriter,is the person who really has to make,sure that that happens and the,longer the chain of command is between,the person that writes your loan and the,underwriter the less likely the loan is,to close on time and the only thing the,listing agent wants is the best money,most money and the best terms but,neither of those things matter if the,loan doesnt close and loans dont close,all the time a real estate transaction,is complex theres a lot of moving parts,theres a lot of things that change over,the course of the time it takes from,contract to close and those things need,to be managed and the underwriter needs,to be in fact managed by the loan,officer that keep the things moving,around if the underwriter has a lot of,work to do say a lot of refinances to do,or theyre uncommunicative their,personality is uncommunicable or they,are i dont know distracted in some way,or theyre just disinterested i dont,know theyre you know theyre,theyre not a consumer-facing,job,right they dont they dont have any,customer service,responsibilities,particularly so who knows what theyre,doing and the further they are from the,loan officer the harder it is the loan,officer to manage the deal,now im only telling you this from,experience of,being a managing broker i can tell you,deals go sideways and the law i get on,the phone to the loan officer the loan,officer gets on the phone to either his,manager or right to the underwriting,manager and gets the loan moving,this happens,i dont know 50 60 percent of the time,some intervention is needed,to think about the rocket mortgage loan,working is sort of an insane proposition,because you,applied on an app on a phone not with a,person,right and,then you maybe talk to somebody in the,process but that person isnt,necessarily someone that the,listening agent can talk to or that your,agent can talk to and if it is the,distance between that person and the,underwriting department is some unknown,quality quantity because,who knows where they are the whole thing,is decentralized having a local,underwriter having someone in your city,that the loan officer uses makes an,enormous difference and who cares about,that is the listing agent,the person representing the seller and,in a competitive market theyre going to,take the most money on a deal that they,think is going to close on time and,there is no evidence that a rocket,mortgage loan is going to close on time,rocket mortgage is in that bucket its,actually at the bottom of the bucket,with,big banks uh uh navy federal anything,with the government and banking,horrible to do business with navy,federal usaa terrible to do business,with because theres so many layers,between the person thats going to,release the funds and the loan officer,wells fargo bank of america,all fit into that bucket your credit,union fits in that bucket,a locally uh underwritten loan even if,its a large company loan depot,fairway,uh caliber home loans that you know,those are big,national companies but the underwriting,department is just a step away from the,loan officer and thats key and nobody,talks about that i ive done other,things about how you could find a good,loan officer but the particular sort of,lever there is,in that bucket of those terrible,situations those terrible solutions,none of those solutions depend,on someone talking about what a great,job they did,where the everyone in that bucket gets,their business from is either,convenience like your bank wells fargo,you bank there anyway so you walk in so,its easier,no one ever said oh my god youve got to,use my wells fargo,loan officer i got such a,people dont talk about those kinds of,loans because theyre because theyre,not great they dont do a really good,job,and rocket mortgage doesnt talk it,doesnt have people refer them they,spend a trillion dollars on having anna,kendrick come out,and spend a billion dollars on a super,bowl ad and have barbie be there thats,how they get their business thats that,bucket a loan officer that your realtor,recommends to you or your friends,recommend you is way more valuable why,because they recommended them,theyre not getting a kickback theyre,recommending them because they get the,deal done,thats the important part here is you,want to get the deal done not have it be,easy,to apply now lets get into that thats,the meta problem with rocket motors to,use rocket mortgage as a solution you,already need to be of the mindset of i,want to make this,as as mindless as possible,thats a problem,this is the most expensive thing youre,ever gonna buy,youre gonna pay for it for 30 years,its the most complex legal transaction,of most peoples lives its the most,emotionally laden,situation its where you live,you do it,every 10 years so everything changes,every time you do it,youre trying to get that to work with,the ease of which you order an uber,that is an insane,proposition,no on something that big of a deal you,should not be trying to get that to be,mindless instead of getting that to be,fast you want to get that to be slow you,want to slow that process down so that,youre not used by all your cognitive,biases so that youre not sucked into a,situation that you cant get out of you,want to get a trusted advisor to walk,with you through that process,not an app it makes no sense,to put the largest financial transaction,of your life in the same bucket as,ordering an uber its crazy value,proposition thats the meta problem so,if youre applying with a rocket,m

My Honest Review On Quicken Loans Mortgage – Pros And Cons Rocket Mortgage Review

hello everybody my name is sanad and,welcome to another video,in todays video were going to be doing,a full review,on quicken loans were going to go over,all the pros,and cons and ill give you my honest,opinion,on quicken loans so before we get,started make sure you like this video,also subscribe to the channel alright so,you are most likely looking to,purchase a home or refinance your,current home,and you are considering quicken loans,quicken loans is one of the biggest,mortgage companies,in the united states and that was one of,the reasons,why i chose them to refinance one of my,properties,and now im giving you my full honest,review on quicken loans,as you know i am a real estate investor,i own multiple rental properties,and i love shopping around for better,interest rates,and better terms on my properties and,when i was shopping around,i came across quicken loans so i decided,to go with them,to refinance my property quicken loans,does a lot of online marketing,so you most likely saw their ads on,social media,or on youtube and now we are going to,discuss all the pros and cons,of quicken loans and hopefully by the,end of this video,youll be able to decide if you want to,give quicken loans a try,or if youre gonna pass on them pro,number one,quicken loans is strictly online they do,not have any brick and mortar locations,so your entire process will be done,online,occasionally you will speak to a,representative over the phone,but the majority of the process is done,online,you will create an account on quicken,loans on rocket mortgage,and then youll be able to upload all,the documents that are required,for your refinance or your home purchase,i love this feature because it allows me,to do the entire process online i do not,have to drive to a bank or print out,papers at home,everything is online and this makes the,entire process,super easy pro number two quicken loans,offers,a ton of options you can get a 15-year,mortgage a 30-year mortgage,fixed rate adjustable rate va fha usda,they offer so many options and most,likely theyll be able to find the,perfect option,for your need so quicken loans ton of,options,they also offer refinancing and cash out,options,so if you have equity in your property,and you want to take it out,youll be able to do so with quicken,loans also they lock in your interest,rate,as soon as you are pre-approved pro,number three,quicken loans keeps 99,of all their mortgages and refinances,so you do not have to worry about your,loan being sold,to a different bank with quicken loans,everything is done,in-house so youll be able to log in,your quicken loans account,youll be able to see your mortgage,youll be able to get all your tax,documents,when youre ready to file taxes,everything is done,on quicken loans website and it is,absolutely easy this is probably,my favorite feature of quicken loans so,far,their online portal their online system,i am a real estate investor i have,bought multiple properties,multiple refinances and i can speak from,my personal experience,quicken loans has the best online portal,out there,no questions about it that is my opinion,and they,provide all the information that you,need in the portal,and after you close your loan youll be,able to log in the portal youll be able,to see your interest rate,the breakdown of your loan quicken loans,just makes everything super easy and,super simple,to understand so this is my favorite,feature,also in the portal youll be able to,make extra payments,you can set up bi-weekly payments,monthly payments,all of this extra money can go towards,your principal,and with quicken loans you are able to,see exactly how much is going to,principal,how much is going to interest how much,is going to your escrow,and your insurance all of that stuff,everything is broken down,in charts and it is absolutely awesome,another pro,their customer service is top notch,youll be able to contact them in email,on online chat,over the phone they are super easy to,contact and you will not be on hold,for hours like some other banks with,quicken loans,they have excellent customer service,also quicken loans has good,interest rates i have compared quicken,loans interest rates,with other brick and mortar stores and,90 percent of the time,quicken loans interest rates are better,than brick and mortar banks,that is from my personal experience and,now lets talk about some of the credit,requirements,that you would need if you want to,purchase a home with quicken loans,or if you are looking to refinance,minimum credit scores,if you are going conventional or va,you will need a 620 credit score or,above,but if you are going with an fha loan,then you will need a credit score of,580.,also 760 credit score,for jumbo loans on purchases but if you,are refinancing for a jumbo loan,then you will need a 700 credit score,but the majority of people,will fall in the first two categories,either they will go conventional,and will need a 620 credit score or they,will go,fha and they will need a 500 credit,score,like 99 of all people will fall,under these two categories also one,other thing that i would like to mention,quicken loans is available in all 50,states,so you can be anywhere in america and,youll be able to refinance,or purchase a home with quicken loans so,if you are in the process of looking to,purchase a home,or you are looking to refinance your,mortgage check out the links,in the description box below i will have,some of the top lenders that i have used,personally,to refinance or purchase properties so,make sure you check them out they offer,some of the best rates,and some of the best terms and now lets,talk about,all the cons of quicken loans car number,one,quicken loans does not have any brick,and mortar location,so if you are one of those people that,has to talk to a person,face to face or sign documents face to,face,then quicken loans is probably not for,you all of the refinances,and home purchases done through quicken,loans are done,online i know a lot of people like to,have a brick and mortar location,where they can drive to and talk to,somebody face to face,with quicken loans they do not provide,this car number two,quicken loans does not offer heloc loans,so if you have equity in your property,and you want to take out a line of,credit,against the equity you will not be able,to do this with quicken loans,quicken loans offers cash out,refinancing,but does not offer credit lines on the,equity,so no he locks with quicken loans con,number three they do not provide,a lot of information on their website,about all the fees that come along,with refinancing or purchasing a new,home so you will have to get in touch,with quicken loans,and ask them about the fees but on the,positive note,as soon as you ask theyll be able to,provide all the information,that you need also one other thing that,i would like to mention,closing costs and all the fees typically,range between,two and six percent of the entire,refinance or the entire,home purchase also in this two to six,percent,they are including the appraisal the,attorney fees,inspection fees signing fees there are a,ton of fees,that will be included but this is the,industry standard,and every bank has their own fees but,with,quicken loans the typical range is,between two and six percent,all right now that we have gone over,some of the pros and some of the cons,now let me give you my honest opinion,about quicken loans,i did do a refinance with them and now i,will share my personal,experience so after doing some research,i decided to go with quicken loans,at the time they were offering me the,best interest rate,and the best closing terms possible so,of course i went with them if you are,planning to refinance or you are,planning,to purchase a home make sure you shop,around do not just go,with the first lander or the first bank,make sure to get at least three to four,quotes from different lenders that is,what i did,and that is how i ended up going with,quick loans they offered me the best,in

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Rocket Mortgage by Quicken Loans? (pt. 1)

man do i have a story for you if youre,thinking about,getting a loan by a rocket mortgage by,quicken loans,you need to hear the story first,[Music],whats up everybody im kevin hoody aka,honey buddy and im with the xp realty,now youre gonna get this side only from,me,so i know theres two sides to every,story but i could verify,everything that im about to tell you,from the listing agent,and my client and the sellers,of this transaction that i have had a,nightmare going through,im going to keep names im going to,keep as much information out of this,because its not,um im not trying to like bag on anybody,personally or anything like that,so i just want to put this story out,there for people to know,like what to expect if theyre gonna be,dealing with,quicken loans rocket mortgage if youre,gonna go,and get a loan through them or get,pre-approved for them,they have like you know a very,streamlined process,just know that going with a local lender,is a million times better and i,always recommend it as a real estate,agent as a friend as,your neighbor here in california in,sacramento,you can find a mortgage broker or just,the lender themselves,but theyre you can find them local,because its a lot easier to deal with,getting in touch with if anything,happens,all the communication is there youre,not getting your,um loan case handed off from person to,person department department youre,you know you have a person thats,working you can call at any time and,be able to work with directly and that,is huge when it comes to,buying a home and you know making offers,and being on the same page,all the way through with everybody,involved in you know buying a house or,selling the home,either way you need to be on the same,communication level everything needs to,be super transparent,and you just got to be extremely honest,so this is what happened,my client is from out of town from,marine county,moving into sacramento trying to do a,fresh start weve,made multiple offers uh on different,condos and,we were lucky enough to come across this,one but the thing is is that,he got pre-approved by rocket mortgage,goes online gets a conventional 30-year,fixed-rate mortgage however on his,pre-approval letter,it even states its a guaranteed fully,underwritten,um loan that it falls through for,whatever reason,that they will pay him a thousand,dollars my client,and so thats pretty cool and i was like,hey thats that was kind of my selling,point to,um making offers i was just saying hey,hes fully underwritten,hes a really good guy that you know and,thats what,ultimately got us our offer accepted i,believe it was really cool to be able to,have that experience but,um i was just pushing that his loan,was pre-approved and fully underwritten,and that he will get a thousand dollars,if it doesnt go through,so we get to,the offer accepted awesome were moving,were doing everything were were,assigned the lender,and hes been you know kind of in touch,with us,and they have everything online he has,im sure he can do it through an app too,but,theres just a checklist of things that,he needs to get my client needs to get,done,in order for you know things to move,along in the process,now its always highly suggested,before you even make an offer that you,the real estate agent,get in touch and have a relationship,with these lenders because you need to,find out,how long of a contingency period you can,do,because as a buyer you want to offer the,shortest contingency date so that way,you can you know,close escrow as early as possible um,when you do get them on the line or you,need to talk to them theyll just,give you the world theyll tell you,everything you want to hear yeah yeah,yeah were all about transparency were,going to do whatever it need,you know whatever you need to be able to,make things right and then we get,our new our case passed to another,lender so then this guy,is you know oh im all about,transparency the listing agent can call,me,no matter what and i love it you know,ill tell her whatever,you want me to you know as far as whats,going on in the situation,well then all of a sudden were looking,for him,and hes gone awol and its so crazy,because we just talked to him that day,the listing agent and me and weve been,in communication that whole day,and then at the end of the day i sent an,email about,eight oclock you know kind of,explaining 8 p.m,our time trying to explain like what my,clients going through what he,is going to be losing if this deal falls,apart,because of them and,i get an out of office reply saying hes,going to be out of town,for like five days straight and so,i just was like are you kidding me what,am i supposed to do now,im trying to get all the information,that im you know getting,about this to the listing agent and my,client and,trying to shield my client from certain,things so he doesnt have to stress,about all this stuff but at the same,time,you know he needs to know a lot of,things,so im trying to keep him updated and um,it it just has falling apart i mean a,lot of time,effort money has been put into the,situation and to get this far along,and for something like this to happen,and for a client like mine that,extremely deserves it in every way its,just,heartbreaking so i just want people to,be aware,and know that if youre thinking about,using quicken or rocket loans,just just do your homework,i mean i was warned by other agents and,other colleagues,to not use them but i can only tell,people,my clients so much you know they have,that ultimate decision and its,always their decision at the end of the,day im here to just advise,so you know it is what it is we we ended,up with them i thought,were gonna make it through but we will,find out,so uh ill keep you updated and i just,want people to know,some things are just out of your hands,and if you can control something like,this,especially theres so many talented,lenders,in this area and that you can easily,find a lot of them that are right near,you if youre thinking about,moving to sacramento then dont,use rocket or quick and mortgage and,find a local lender thats all im,saying,until next time guys i really appreciate,you watching,make sure you comment below if you have,any questions make sure to subscribe for,new content,until next time guys thank you

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Quicken Loans Review: Is Rocket Mortgage Really That Easy?

quicken loans is one of americas,largest lenders and theyve mainly,prided themselves on the fact that they,have super high customer service and for,that reason they attract a lot of people,that are not too familiar with the loan,industry as they make it seem like its,a super easy and hassle free process to,get a loan at a very competitive rate,and although all this is touted on their,home page and there is real customers,that are attesting to how great the,company is most of this is marketing and,admittedly we cant really rely on that,too much when were actually looking to,get a loan because i dont care what,other people say i want to know what the,best rate i can get depending on my,credit score and my loan history so then,i can maximize the value of however much,money im taking out so for that reason,today we are going to be taking a deep,dive into quicken loans to see if this,is the proper lender for you and at what,credit score and income would it make,sense to take out a load with quicken so,lets first start off by taking a look,at their mortgage rates as this is by,far the most popular service that you,could get through quicken and compared,to the average market they are fairly,competitive with their lending rates,being a little bit below average so,while the table that you have up on the,screen is relatively accurate you have,to remember that these lending rates do,change very frequently so while quickens,is below the median right now theres no,telling what could happen in the next,few months so this is something that you,need to keep up on when it comes to,comparing your lenders is you want to,make sure that you are putting all of,them on a short list and comparing all,of them before you actually make that,final decision now it is important to,note that quicken is a bit tricky when,it comes to these reported apr rates as,they are assuming that you are going to,be doing a full buy down on your,mortgage and this is something that will,maximize your apr rate because of the,use of those discount points so when,youre speaking to quicken about your,actual loan rates its important that,you get these specific metrics that,youre being measured across to help you,more easily compare them to other,lenders that you may also be speaking,with now quickens refinance program is,also pretty competitive being within the,same bracket as their home purchase,rates so the table that i showed up on,the screen prior is also going to work,if youre doing a refinance and this,makes it even easier to get a pretty,good estimate on what quickens is going,to offer you now because the company is,so transparent with their rates for both,their mortgages and refinances is one of,the reasons that so many customers enjoy,them and if you are not already aware,almost the entire mortgage process is,completely online through their website,making it extremely easy to find out,when youre getting approved and also,having to reduce the amount of paperwork,in trips back and forth to an office,that she would with a lot of other,lenders out there now speaking of,customer satisfaction quicken loans is,definitely one of the top rated,companies out there if you look at the,better business bureau reports youre,going to see that 96 of customers say,that they would recommend this loan,service to another person meaning that,they are going to get an a plus score in,user satisfaction now theyve also,received numerous other rewards and one,of the most important of these being the,jd powered associates reward and in,order to receive this award jd power,took a survey of real customers and for,the last 11 years theyve won out by,having the most satisfied customers with,their loan packages now it is important,to note that jd does not specifically,break down what loan categories,customers thought they were getting the,best deal or service within however this,is a general overview for the company,and is a pretty good sign for any lender,that you are looking at now one of the,ways that quicken has been able to gain,such a loyal and satisfied customer base,is that they are maximizing technology,use in getting people approved and,signed up for these loans and whats,really unique about this online system,is that you are paired with real-time,experts on the internet meaning that,youre not going to have to go meet with,anyone in person and this allows them to,give you rates extremely fast just by,answering a few questions on their,application website that can all be,easily clarified with a few short emails,or calls to the company however if you,are still someone that likes to go into,a brick and mortar store to discuss your,loan then this is unfortunately,something that youre not going to be,able to get with quicken as they are 100,online and you are not going to be able,to do any of the services that you would,get with one of those traditional,lenders out there so depending on who,you are this might be a make it or break,it for quickens no matter what types of,services they are offering and how good,their aprs are if you are comfortable,doing everything online then this is,definitely a company that you should,take into consideration now if that,doesnt bother you then you may still be,wondering what type of credit score,youre going to need in order to comply,for one of these competitive rates and,right now its looking like the average,customer has an average of about 620 on,their credit score so this is definitely,not a service for people that have low,or bad credit however if you are looking,for lenders out there that do have,opportunities for you if you have bad,credit no job or even no credit history,at all be sure to check out my previous,videos on that with the link above so,now lets go into a little more detail,about what its going to look like if,you do decide to work with quicken now,they were the first online mortgage,service in the business at least in the,united states making them one of the,most powerful online tools that is,servicing mortgages now quicken itself,is actually not a standalone company as,it is owned by rocket mortgage another,large brand that you most definitely,have heard of if youve been paying any,attention in the lending space in the,last few years and the benefit of being,owned by rocket is that if you do go,through the rocket mortgage service,youre going to have even more online,tools allowing you to sign your,documents online so you could,theoretically get access to your money,with all the documents signed without,having to leave your room even once now,since most of this is automated on the,backend by the system itself it means,youre not going to have to re-verify,any documents as that is all taken care,of for you and in addition to this all,of your information is going to be,processed at a much faster rate than,what you would get with a more,traditional in-person lender and this,potentially allows you to get approved,for your loan and have access to it a,lot quicker than what you would get with,other places and thats why its called,quicken loans because they are very fast,when it comes to giving you out your,mortgage or other type of loan now the,final feature that they are offering is,called rate shield and this is a pretty,unique competitive advantage that youre,going to get within the entirety of the,lending sphere and this is a feature,that lets you get pre-approved for your,apr and then you have 90 days to lock,that in meaning that if you do want to,do more shopping around you are going to,be locked into a very specific apr with,them meaning that youre going to have,better negotiation leverages as well as,not having to worry about market,conditions and how thats going to,affect your current rate now with that,understood lets dive a little bit,deeper into the specific loan offerings,that quickens is currently giving out,and as of right now they do have a,pretty large selection with the first,one of these being the traditional,30-year mortgage and of course these are,goi

Should You Get A Mortgage From A Bank Or A Mortgage Broker?

our question comes from Alex in Michigan,whats the difference between a home,mortgage through a bank or a credit,union in getting a mortgage to a,mortgage company it might be no,difference depending on how your bank or,credit union did the mortgage there are,three types of mortgages that are called,conforming mortgages Fannie Mae which is,conventional FNMA conventional loans FHA,and VA Federal Housing Administration,the Veterans Administration conforming,means that each of those contendere,making a VA loan that they want the,Veterans Administration to insure has to,conform to a set of Veterans,Administration guidelines so all VA,loans have conformed to a certain,lending process then they can be,packaged together and sold in blocks so,you could take two take five $200,000 VA,loans package them together as a million,dollar block and sell them as a block,thats called securitizing a mortgage,okay same thing with a Fannie Mae loan,all Fannie Mae loans follow the same,guidelines banks and credit unions can,make FHA loans they can make Fannie Mae,loans and they can make VA loans if they,have a mortgage department in them and,then they can sell that loan only if it,is conforming to those guidelines,because no one will buy it if its not,conforming if its not predictable,because it was made on a certain set of,guidelines if they just simply lend you,the money from their bank or lend you,the money from their credit union which,can happen thats just a bank loan and,thats what we call a portfolio loan,which means they are going to keep that,loan in their bank they cant sell it,because it doesnt conform no one will,buy it they cant sell it so they have,to keep it in their portfolio and so,they can use whatever lending guidelines,they want,they can just decide home equity loans,are an example of that all home equity,loans are portfolio loans they do not,conform to any set standard guidelines,each bank makes up their own guidelines,and they keep those loans in their own,portfolio meaning that bank lent that,money that bank collects that money that,bank wont sell it but you can almost a,hundred percent of time predict that if,you have a conforming loan it is going,to be sold if you go to Bank X Bank of,America and you love Bank of America,which makes you not smart but if you do,and you use Bank of America and you use,Bank of America do an FHA loan dont be,surprised if two weeks later countrywide,or someone else owns that loan because,Bank of America very likely did not,intend to keep that conforming loan they,set they buy and sell those things like,you sell stock or something else,you can move those loans around easily,now mortgage companies almost never keep,a loan like 99.99% of time like,Churchill mortgage that we endorsed they,do not portfolio anything a hundred,percent of the loans that they make they,have an investor already lined up to,take that conforming loan so if you go,to them and you get a conventional loan,15 year fixed where the payments no more,than 1/4 of your take-home pay like we,talked about all the time,Churchill mortgage will own that lower,loan for about 30 seconds after you sign,all the paperwork it will already be,lined up to be dumped into someone,elses bucket and so dont expect,Churchill to collect payments from you,theyre not in that business they set up,the loans sell them into the deal and,that thats simple its that simple so,you know and this is what gets people in,trouble if you remember back in 2008,when the housing market crash what,happened was a bunch of people were,violating those conforming loans and,some of the appraisers were lying on the,appraisals and so some of the,conventional loans that we had all come,to count on is kind of the gold standard,were bad there was a whole bunch of them,were bad because they were the houses,were overvalued,and so when people quit paying and,walked away from them it started,crashing in on the security side of the,business and these banks that were,holding blocks of these mortgages 10 20,30 million dollar blocks of these,mortgages started caving in and thats,how thats what happened out there,was that people were not following the,conforming guidelines and and the some,of the appraisers were jacked up in the,middle of it and so appraisal the,appraisal world got a lot more,regulation out of that the banking world,and mortgage world got a lot more,regulation made out of that so that we,dont end up with another bubble based,on falsehood and thats the background,on that but thats the deal so you can,get your bank to make a loan of any kind,if they keep it whatever you can dream,up and they dream up and thats the deal,you have that deal as long as theyre,going to keep it in their portfolio if,you can talk your credit union into it,do it thats why I send you to the,credit union a lot of times for paying,for a very small mortgage like if youre,getting a $50,000 mortgage on a $200,000,house because you got a big down stroke,you probably can get that with no,closing costs no points on a fixed-rate,better than you could get a conforming,small FHA loan or small Fannie Mae loan,because the mortgage companys going to,tag you with a bunch of stuff you dont,really need to do an appraisal on a,house from a common sense perspective if,youre looking under the $200,000 house,making a $50,000 loan you can kind of go,I think thats safe but if youre doing,a Fannie Mae loan you still have to do,the appraisal you still have to do a,survey you still have to do all this,stuff because you have to conform to,their guidelines and that creates a,bunch of unnecessary closing costs on a,super small loan like that and so if,youre getting a little dinky loan on a,big ol house like that always do that at,your credit union and just say hey Ill,take it like a car payment right well,set the thing up on five years,fixed-rate no points no appraisal no,closing costs no nothing just make me a,car loan $50,000 car loan on my two,hundred thousand on our house and as,long as theyre keeping that in their,portfolio isnt whatever you can talk,them into and they agree to that becomes,your deal mortgage business become a,very very interesting business and last,few years

Rocket Mortgage Review 2022

hello everyone,welcome to my,another new video,today,today,well discuss rocket,mod guest review 2022,good for bluro bar,who applicate,convince convenience,online and on the,go for a full digital home loan,experience,with,consistently,a client customer service,our take,the bottom line rocket mode guest online,modgus application tool,and on,demand support sense the industry,now the rocket has become the brand name,of quicken,loans,the digital,the digital letters has officially,remained to the,foreign,pros and cons,pros,connected to,self-service user who want to apply for,a home loans online and take to human,online as a necessary,estimate the loan amount,you will,qualify for within minutes,the online process with documents and,state,revenue,in including the ability to edit our,approval letter,coins,getting a customized,interest rate,required a credit check,which is,an effect your credit score,does not offer home equity,loans or line of credit,leader fees,are on the,r1 the high side and the feeds are not,offered by,particularity,low,mod gust rate according to the,latest date,full review,mod guest,rocket,modus rocket mod guest at a,glance,rocket not guest,use the used to be,the online,loan shopping and application process,offered by quicken loans,but,but,as of,july 2021,rocket modus is the leaders official,name,if you start a apply for a mod guest,online both quicken,you will the you will you will be sent,over the rocket site,no matter what your loan will the,organized,by rocket mod guest,then quicken loans,how about the most recent home mode,guest,dessert,asset debt available for 2022,when rocket mod guest was still a,quicken,on brand and quicken loan organized home,loan from rocket,they start writing,rating will see for rate and field feed,fish,and,rate transparently,reflect debt for quicken loan will,rocket date,in front,variety,of loan types and easy of application,here a,breaker down up rocket mod gust,overall score,modality,of loan type,four of five star,easy of application,for five or five star,[Music],type,rocket not guest offer a loan,lineup thats fairly,typical,tripoli,of,non-bank leaders,converts conventional loans apic loan,and va loan and available with fixed a,accessible rate,a customizable fixed rate conventional,loan with a team for,8 to 9 29 years is also available,in additional to the standard 50 to 30,years not guess,made of only seven percent of,least total business quicken was the,second latest apis leader,in the nation,in 2022 in 2020,more than twist f is,a lone volume of the next letter,home equity loan and home equity line of,credit,or ac lo,c s,arent available those is speaking to pa,port,they are home equity,to work with rocket will,need to,look a cash out refinancial,rocket mod guest easy of application,thank you so much for watching the full,video

My thoughts on Quicken Loans

hey everyone thank you for joining me,today on a DPS real estate team I just,wanted to come on and do a quick video,regarding Quicken Loans and my,experience with Quicken,if you like what you hear in this video,hit the thumbs up button dont forget to,hit subscribe also hit the bell,notification to be notified of future,videos and also join me every Wednesday,for a new video and check back,periodically on the channel I do,impromptu videos just like this one,especially when Ive had an experience,with someone within our industry,the elendor title and so on so I wanted,to discuss my experience with Quicken,Loans theyre a very big company they,offer products such as their rocket,mortgage and so forth expediting things,quickly and so forth so I just wanted to,kind of give everyone my take on things,and to what let everyone know paid,endorsement or anything like that,but just giving my thoughts as a Realtor,on,quicken loans so rewind a bit too,sixteen and that was my first dealing,with Quicken Loans,I will say that it was definitely not a,good experience,and I carried that bad experience one,with me until 2019 when I just had this,I just actually got out of a settlement,needless to say it was a settlement with,Quicken Loans and I will tell you and,going on record camera written you know,record whatever it may be that my total,attitude and belief has changed with,quicken I know that was lenders its,definitely in the hands of the buyer how,responsive the buyer is Im qualified,the buyer is um so that definitely helps,but boy did they take you know a,difficult situation and made it that,much better,I mean they pulled off things that it,was this particular transaction that I,just settled with that two other lenders,could not do,kudos to Quicken Loans they have really,changed my outlook one their company,definitely big shout-out to Stefanos he,was the loan officer that dealt with my,client and just a little background,about my client wonderful woman I,couldnt be happier and you know she,really if theres anybody who deserved a,home it was this woman she was waiting,through this process to buy a home for,five years,and I just met her the beginning part of,this year but shes been through some,trials and tribulations with purchasing,and to overcome those things has been,truly miraculous she has you know a,different way of how she gets paid you,know as far as her employment,some of the challenges that I see that,quicken was actually able to overcome,those hurdles and I mean to get us to,settlement in under 30 days was just,phenomenal so I really at this point,cannot say enough good things about,Quicken and how great my experience was,this time around with them the,attentiveness the teamwork that was put,together to you know assist in every,step of the way,I was never waiting around for,I was never you know waiting around for,a mortgage commitment or anything of,that nature,any question that I had if there was,anything that potentially could have,posed an issue in slowing down or,delaying the transaction to settle that,was eradicated he immediately and dealt,with immediately by the loan officer and,so forth so again you know quicken has,definitely restored my faith in them,be sure from now on along with my other,go-to mortgage officers I definitely,cant forget about them locally here I,will definitely be recommending Quicken,you know its scary sometimes when,youre dealing with larger banks and so,lending institutions because you feel,like Im just a number but even today,had settlement we,I hope everythings okay,you know give us some call otherwise you,know very prompt with their paperwork,and everything,particular love product that my client,used was,get mortgage so the approval that she,received basically was just as strong as,having cash,so they have put their money where their,mouth is,they backed up their product,and their services you know like I said,their services,phenomenal I really like the follow-up,especially as a real estate agent,because for me you know to have to be,picking up the phone and hey wheres,commandant where is this where is that,where we act,I didnt have to do any of that it was,already there so,again thats my short synopsis my,experience with Quicken I hate that I,had that first experience that it was,bad,I even explained that to stefanos who is,you know the law doctor so that I dealt,with with this transaction he was very,understanding,you know he assured me that this,transaction would be different and he,definitely held up to that,its true this experience was far,different and it was far more,so if you are thinking about quicken and,want to you dont know any further,information about quicken this video is,just another testament to add to your,review process and your research process,with quicken so I hope that it helped,answer any questions that anyone had if,you do indeed have questions about my,experience more in depth questions,please feel free to comment in the,comment section below or reach out to be,personal and personally by email either,or is fine but you know I always like to,give credit where credits due and,credit is definitely due to Quicken,Loans for this wonderful experience with,this transaction so happy blessings and,happy day to everyone its beauty,sunny day here I know its gonna be hot,but better deal with it it is summer and,I look forward to seeing you all in my,next video and dont forget to share all,right have a blessed day guys,take care

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