Mortgage Monday -Look for THIS in a Conventional Loan | Episode 53
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Summary
In this episode of Real Talk Real Estate, David Greene and Christian Bachelder discuss the ins and outs of conventional loans, including their strengths and weaknesses, the importance of choosing the right loan officer, and the process of getting pre-approved. They emphasize the need for thorough documentation, quick turnaround times, and the significance of staying informed about industry changes. The conversation also touches on the importance of personal service in the mortgage industry and the value of defensive investing in uncertain economic times.
Chapters
00:00 Introduction to Conventional Loans
01:10 Understanding Conventional vs Non-QM Loans
02:12 Strengths and Weaknesses of Conventional Loans
03:20 Choosing the Right Loan Officer
04:41 Pre-Approval vs Pre-Qualification
06:26 Importance of Documentation in Pre-Approval
08:09 Turnaround Time for Pre-Approval
10:51 Staying Updated with Industry Standards
12:20 Finding Rates on Sale
16:01 The Importance of Transparency in Loan Estimates
20:46 Understanding Lender Practices and Client Choices
21:44 Waiving Impounds: Benefits and Costs
23:09 The Importance of Keeping Your Lender Involved
26:54 The Role of Loan Brokers in Securing Better Rates
30:20 The Importance of Clear to Close Turnaround Times
34:54 The Commitment to Client Service and Availability
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