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Secrets of Comparing Mortgages and Lenders
Manage episode 465454111 series 3467115
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Learn the secrets to comparing mortgages, loans and lenders in New Bedford.
This class is Module 21 of 46 in a series called Real Estate Investing Secrets.
Topics covered in this module include:
- Why selecting a lender isn’t always about price… and what are some of the other selection criteria to consider.
- Why just because one lender says it can’t be done, doesn’t always mean that it can’t be done.
- The best ways to find a lender.
- How to call lenders to get quotes.
- Why you shouldn’t let each lender pull your credit and what you should do instead.
- A list of interview questions for lenders.
- My email for requesting loan quotes and response rates.
- What should you provide to each lender to get the best quotes.
- What you might expect to get back when asking lenders for rate quotes.
- A spreadsheet for comparing different loan programs.
- How to compare quotes from different lenders.
- What should you ignore when comparing loans between lenders? What should you compare?
- Why you can’t use APR to compare different lenders and loan programs.
- Comparing appraisals.
- Getting pre-qualified and getting a lender letter.
- Why lenders quote rates and points differently and how to deal with it.
- In an ideal world, what you would receive back from a lender and why it is useful.
- Special considerations if you’re utilizing a specific real estate investing strategy.
- Understanding how lenders get paid.
- Understanding lender fees.
- Understanding PMI.
- What you should compare directly when comparing different lenders.
- The second step when comparing loan programs using a deal analysis spreadsheet.
- Tips for selecting a lender after comparing loan programs.
- Getting lenders to compete for the best rate and terms.
- Additional services that lenders offer beyond getting this loan.
- Plus much more...
Check out the video and additional resources related to Secrets of Comparing Mortgages and Lenders.
Free Real Estate Deal Analysis Spreadsheet: Download a copy of the newest version of The World's Greatest Real Estate Deal Analysis Spreadsheet™ by going to:
https://RealEstateFinancialPlanner.com/spreadsheet
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