Lender Secrets Revealed for First-Time Homebuyers - Shaheedah Hill Unedited | Mortgage Tips

Loan Officers do not get paid by giving higher interest rates nor lender fees. We get a percentage of the loan amount paid by the Bank, Brokers like myself tend to lower our commission to get better rates for buyers.
Of there is a situation where a borrower is short on finds to close the interest rate can sometimes be raised to provide a credit to the buyer but this has to be done early I. The process.

You answered my questions, thank you!😊

Do we pay a fee to lenders?

Hey can you recommend an agent

Great video!

Lenders and agents are all whole bunch of liars.

Such good info! ❤❤

I was so naive and trusted this one lender… he took great advantage of my innocence… I got my condo I just have to love on… how’re that extra loan charge of 2.5% is haunting me and I had to pay it cash on closing…never again trusting one lender like that

I got hit 8 times shopping for lenders and it was all under a 30-day period. I don't know what went wrong but it brought my score down due to too many inquiries in a 2-year period. I am pissed!

Thank you so much for all the loads of valued information you kindly educate us with. I feel confident that this will help me tremendously in purchasing.

Thanks for sharing all this real estate info this is so needed.. May your business bring you overflowing wealth to you and your family.. We need more people like you who keep it 💯..

We were so ignorant during the buying process. We did not shop for rates. Our realtor works with a lender and we just went along with them because it was streamlined. Two buyer/ High Earner/ 780 and 805 Credit scores. We just didnt know we could/should shop around!

Isn't there a 45 day window where you can get pre approved without affecting credit score? Outside of the 45 days, then it will, right?

Hello, love your channel. We are scheduled to close on our new build home in 2 week, should we hire home a home inspector for our walk through on new construction?
My agent says yes but my lender reminded us we have a warranty and can inspect around 10 months after closing. What are your thoughts?

Thanks for sharing

Can student loans hinder you from buying a home?

What is the minimum credit score you need for a mortgage

Oh boy, let me tell you. My Realtor and lender couldn't get alone. I was under contract with land. Omg it was a nightmare. In the end I had to fire 2 lenders only had 25 days to closes. Had to different companies so I said my closing date is June 15, 2023. Do you think you can close this. 1 said they wasn't sure the other one said yes they did it before and they can do it again. So after the 3rd time I finally found a good lender. It was better. Yes we closed! Being a first time home buyer let me tell you it crazy. You have no idea where you end up who you end up with. But one thing I can say I had the best realtor I could ask for. She had my hand all the way to closing. I got my land and I got my new mobile home double wide from Clanton in mabank texas. So yes you can change your lender a bunch. We finally moved in our new home on October 16, 2023 ❤

so when a person is in the market to buying a home, they can buy the interest rate down from 5.25% to 5%. What if that person has a low credit score example 610? can that person still buy down the interest rate?

Please take notes about shopping around for rates when you're not in contact, rates are quoted are not guaranteed and not locked. Meaning the day you shop doesn't guarantee that rate at all. I see many first time home buyers make this mistake. They think the day they asked for the rates that's the rate is guaranteed to them. Not even close. Rates can change for the lender each day or multiple times a day. I recommend to shop around for their lender fees. Lender do not change that quickly. Also be sure to ask these loan officers does that include the appraisal fee and does it change because I want to get an Arm product. But looking for rates when you don't have a contract isn't time efficient. You can ask what's the going rate like an estimate so you can figure it out your monthly payments.

Great video! I purchased in 2020 using your tips/information. And because I'm the first sibling to purchase, I'm now the "expert".😅 Nobody wants to do the research, they just keep asking me. I'll continue watching and sharing your videos.

I spoke to a lender yesterday, she definitely sold me like a sales person.

You are a Godsend Shaheedah! Thanks!

👍🏽👍🏽👍🏽👍🏽👍🏽

My mom is currently going through the NACA program and the BOA Community loan. What third lender should she consider. In your opinion? We are in Florida

It was me! I asked the question in Facebook but i was tired of lenders calling me so i was anonymous. Yes thank you so much. Lender 1 gave me a quote that’s in the contract at 6.99% Lender 2 gave me 6.3% but i need to compare both packages fully to make sure it’s apples to apples. I read that i have to look out for the APR as well. The cheaper may not be cheaper after all. Thank you so much for your videos. Been following you for years and now i think its finally go time in real life. 3rd agents a charm😂

I wish. I lived where you are. I definitely would of hired you.

Can ask a question about home equity?

Thank you

oh thank you, Shaheeda!

😳Higher interest rates at the lenders discretion 😬 that sounds unethical and teeters on redlining 🤬 but it wouldn't surprise me any 🤔 you've more or less called lenders unscrupulous 🧐 juicy stuff will stash this in my memory box 🧰 Joe Biden's Down Payment towards Equity Act was a complete flop but it sparked a house gouging frenzy and a huge transfer of wealth 🤮 Joe Biden, federal reserve chairman jerome powell and the banking institutions are ALL exploitative 🤬 without a doubt😡CRT, racism and US caste system are all at play

Any insights on getting an ARM, while waiting for rates to drop so I can refinance later at a lower rate w/o giving more money to the lender for discount points?

Realtors are dime a dozen. Get one who knows what they are doing. Have them lower their commission from 3% to 2% so you can use it towards closing costs.

Mrs. Hill these series are 🔥

While shopping lenders, we had one tell us you don’t need multiple tickets to the same concert meaning there was no need to check various lenders. What are red flags we should be mindful of when trying to find a lender? I'm sure you covered this in a video, but I can't remember when.

Thanks for another great video! Do you have a space where you do lender recommendations? I know you specialize in first time homebuyers and didn't know if there are lenders you've found that work great with first time homebuyers in Georgia. I have great credit 😎..lol

Thank you. Good information 👍

Thank you Shaheeda for another educational & informative video. I recently started the process of buying a home and the agent referred me to the lender she uses. Because of the information you share, i decided to get at least one other quote. This was with Chase, but they requested the quote from the first lender. Why do they need to know what was quoted from the previous lender. Why not just go through the process with me & give me your best quote🤔

Hi. I heard when you get that first credit check there is a grace period for you to get other lenders to check within that grace period, so it won’t affect your credit score is that true?

What does a broker do r they the same as realtor

Thanks!!!

This was so much, but very informative, I rather pay cash all cash, that’s what we are doing. I won’t have to pay fees and I won’t have a mortgage. Thank God

Credit simulators and restores cost us money up front and we can not recoup that money from the borrower.
Brokers tend to stick with the same lenders because thise with the lowest rate of tend don't actually get the loan closed. There is far more at play than saving a half a percent on an interest rate. I've lowered commission just so I didn't have to go to a trash lender so my buyer could have a better experience.

Great video as usual. Waiting patiently on the buyers video 😊

I've spent a ton of time counseling people on their credit. The problem is this takes a ton of time and a lot of people don't come back. It's essentially financial advisory, which I once was, but there should be a fee for it. Think about if I can teach you how to change your financial picture and it takes time away from my business. I should charge a fee

Thanks for this. The part about lenders possibly matching was gold for me, I have a lender I really want to use but of course I wanted to get other quotes just in case. This makes me feel better about possibly finding lower fees and rates 😅

I tell them I do not withhold information, but that's the broker difference.