Shopping for a mortgage

**tgapp** · 07-16-2021, 03:30 PM

Originally Posted by liv2ski

Man, I hate to fuck another lender over, as it is not their fault rates are better than when you decided to lock in. Obviously, you can shop around and maybe find a better deal if they didn't have you sign my disclosure. Did you sign something like the below?

Attachment 379652

That is the "don't waste my time clause"

Que the indignant and clueless social warriors.

nope, no such clause. the guy has been really good to work with though, and we've worked with him on other loans. would hate to burn that bridge, but seems like a huge spread.

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**liv2ski** · 07-16-2021, 03:42 PM

Call him and see if the lender it is locked in with will meet halfway on a renegotiation. Some companies will offer that once your ready for loan docs.

**krp8128** · 07-16-2021, 03:47 PM

Originally Posted by Todd Zander

Can you streamline with your current lender? We are going to try and get ours into a monadnock region credit union after our current refi pays back jn 12 months as our current credit union didnt want to play with us.

No clue. My servicing just sold, still have not seen the intro packet to the new company so not impressed at the moment. Old company always sucked too.

Moving forward with credit union right now. They charge 1% to rate lock, bit refunded if you fail to close, so they recommend locking after the appraisal. Loan is only going to be $145k so I'm not a very attractive client....

**Skidog** · 07-16-2021, 04:02 PM

Originally Posted by liv2ski

Call him and see if the lender it is locked in with will meet halfway on a renegotiation. Some companies will offer that once your ready for loan docs.

Yeah seriously be honest. Guy can't fault you for trying to save cash. If he is good he will say damn I wish I could match that, and good luck.

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**liv2ski** · 07-16-2021, 06:18 PM

Originally Posted by Skidog

Guy can't fault you for trying to save cash.

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Not ragging on you SD, but what the fuck makes people say this? Name another profession where you come to an agreed price, the company does the work and then you change your mind and want the lower price because lumber is cheaper now. That is why I have a lock agreement, because it isn't my fault when rates go down or your cousin just got in the business. You shopped around, found I was priced best and asked me to lock you in, so 3 weeks after all the work is done, it is ok to go down the street and kick me to the curb? Really? If you think so you have obviously never run a business and don't value my/their time.

**Cruiser** · 07-16-2021, 07:09 PM

Plenty of folks do good work prior to a deal getting consummated and then, when the deal doesn't come to fruition, don't make any cash. You sell a commoditized product, after all. So in reality it's all about your brand cuz anyone can match your prices anytime if they're plugged in and paying attention, right? Having hard costs wrapped up in putting a bid together doesn't mean you'll win the contract and get paid.

I'm not saying you're wrong here, l2s, but I think we all have to find ways to address the way our business practices have to evolve to meet the demands of consumers who have more access to more information quicker and easier than ever before.

**liv2ski** · 07-17-2021, 07:39 AM

The thing is, nobody beats me unless I just don't want to do the loan, which is the case with small loan balances, condos, people with a bunch of rentals or sometimes a Jumbo loan. Clients see that, know my policies from day one and agree to go with me anyways.

**ripvw** · 07-17-2021, 08:35 AM

Originally Posted by liv2ski

The thing is, nobody beats me unless I just don't want to do the loan, which is the case with small loan balances, condos, people with a bunch of rentals or sometimes a Jumbo loan. Clients see that, know my policies from day one and agree to go with me anyways.

Having done a few loans with liv2ski, I can verify his pricing is ridiculously good. Even my long time mortgage broker, who is always very competitive, couldn’t touch him. He is upfront with his pricing and policies and there has been zero drama when I’ve worked with him.

**liv2ski** · 07-17-2021, 08:39 AM

Thanks. I knew I had open myself up to an ass ripping here with my posts, but jeeze, if someone is doing you a solid upfront, why would you fuck with them down the road? Luckily, my clients never do.

**Skidog** · 07-17-2021, 08:50 AM

Originally Posted by liv2ski

Thanks. I knew I had open myself up to an ass ripping here with my posts, but jeeze, if someone is doing you a solid upfront, why would you fuck with them down the road? Luckily, my clients never do.

I'm not saying it should be common practice. It also appears you don't get beat so non issue for you. Can there exist unscrupulous brokers?

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**liv2ski** · 07-17-2021, 09:39 AM

Originally Posted by Skidog

Can there exist unscrupulous brokers?

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Baaahaaahaaa, wipes eye's. Borrower beware and vet your services well. Ask lots of questions and get the quotes in writing to be sure your happy from the git go. If possible, review on-line reviews with a grade of salt.

**tgapp** · 07-17-2021, 11:06 AM

liv2ski is a solid mag - I would fucking love to give him my business if he would get his license in Utah.

BTW - called my broker, he said he'd talk to the lender and see if they'd meet me in the middle. He's always been great to us, we're not gonna fuck him over. Good dude. Recommended by a mag too (I think it was cruiser?)

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**Cruiser** · 07-17-2021, 12:29 PM

^^^ Hah! You're probably referring to Bob. I would guess Danno gave you his info but it could have been me as well. Like l2s bob's the kind of broker that we haven't bothered to price shop in years because he's totally earned our trust and our business.

**liv2ski** · 07-17-2021, 12:31 PM

Nice

**Kevo** · 07-20-2021, 01:53 PM

@L2S- where do rates sit currently for a conforming refi in Idaho?

I'm currently at 2.625%. Wondering if there is anything lower out there...

**dan_pdx** · 07-20-2021, 04:04 PM

I was offered 2.875% a few weeks ago in WA for a primary home purchase; would I do better today? Have not locked a rate yet.

**alpinevibes** · 07-20-2021, 04:56 PM

Just got in at 2.25/2.394APR for a 15yr on the 3bd employee housing unit we just won in a lottery. 15yr wasn’t our plan but it was a full point lower compared to 20/30yr rates. Pretty happy

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**tgapp** · 07-20-2021, 05:00 PM

Originally Posted by alpinevibes

Just got in at 2.25/2.394APR for a 15yr on the 3bd employee housing unit we just won in a lottery. 15yr wasn’t our plan but it was a full point lower compared to 20/30yr rates. Pretty happy

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you won it in a lottery? how tf does that happen?

congrats on the killer rate!

**liv2ski** · 07-20-2021, 05:10 PM

Originally Posted by Kevo

@L2S- where do rates sit currently for a conforming refi in Idaho?

I'm currently at 2.625%. Wondering if there is anything lower out there...

I am not approved outside CA Kevo, but the last few no cost 30 year loan I took were at 2.625%

**tgapp** · 07-20-2021, 05:21 PM

i think we should all pool our money to get L2S his license in CO, MT, UT, and ID

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**alpinevibes** · 07-20-2021, 05:24 PM

Originally Posted by tgapp

you won it in a lottery? how tf does that happen?

congrats on the killer rate!

Aspens employee housing program (2600 units, mostly owned) sells units through a lottery system to qualified buyers. You generally have 20-70 households bidding on a given unit and there are probably 5-10 units being sold (resold) per month.

We’ve entered into 6-7 3bd unit lotteries in the last couple years. Got lucky this time and scored a 1800sqft unit down the street from us. Nice upgrade from 1000sq ft with twin two year olds!

Usually the deed restricted units don’t tend to be offered the lowest lending rates, but i refi’d our current place in April so maybe they’re cutting me a deal?

**4matic** · 07-20-2021, 05:56 PM

Originally Posted by liv2ski

I am not approved outside CA Kevo, but the last few no cost 30 year loan I took were at 2.625%

What is no cost? Is there a dollar amount to the lender credit?

**klauss** · 07-20-2021, 06:19 PM

Refinanced primary yesterday and doing the rental today. Primary at no loan cost at 2.625 i.e. lender credit offset all the lending fees including origination, notary, title insurance, settlement, etc. Rental at 3.25 with some cost. Pretty much pushing me to take cash out on the rental refi as it drops the loan cost/fee. Almost hard to say no. No appraisal is getting completed on the primary. Just an AVM.

Nothing to see here

**whyturn** · 07-20-2021, 08:01 PM

Originally Posted by tgapp

i think we should all pool our money to get L2S his license in CO, MT, UT, and ID

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I’m in for UT

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**Shredhead** · 07-21-2021, 06:24 AM

Originally Posted by alpinevibes

Just got in at 2.25/2.394APR for a 15yr on the 3bd employee housing unit we just won in a lottery. 15yr wasn’t our plan but it was a full point lower compared to 20/30yr rates. Pretty happy

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Congrats!
Still in Burlingame?