Every Home Buyer Will Get This Document (Your Loan Estimate Explained Line-By-Line)

[@riversoflivingwater3831]

If my university professors had half the presentation and communication skills you have I would have been a 4.0 student 🤣🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼

[@WinTheHouseYouLove]

🤣 Thank you!

[@Eayoub99]

As a loan officer, I have to say, this outlined fantastically! Good work!

[@WinTheHouseYouLove]

Wow, thank you!

[@thegreatone7834]

@@WinTheHouseYouLove what advice do you have for someone who owns 3.5 acres of land already can it be used to get funding to build

[@MrLoudog7]

I was going to ask the same . I

[@mariefils3857]

You are very gifted. Great job young man!

[@WinTheHouseYouLove]

Thanks so much! I'm glad you enjoyed the video. If you have any questions about the loan estimate or need help with your home buying process, feel free to reach out!

[@blahblah3485]

seeing that 3.8% interest rate on this makes my heart cry.

[@Godistheonlyway9319]

x2

[@christophermeyer3544]

😢

[@lsanchez187]

Speaking of synchronicity!! I received my home estimate a few hours earlier and this video just popped up on me out of nowhere. What a godsend! This is my third home purchase and I had never understood before what I learned in 30 min from watching it. Not only you know your stuff, Kyle. On top, you also have a talent to explain it in the clearest and less anxiety-generating way possible. Kudos to you and thank you.

[@Ashenkaniku]

Are you a mind reader? I started applying to lenders over the weekend. Haha, now I can sound like a pro when I talk to them about stuffs 😌 Thank you! Edit: one of the lenders had my Loan Estimate doc online and I've been following along like a good student. Definitely recommend doing the same for anyone who has a Loan Estimate doc while watching this video 👍👍

[@shellywu9096]

Thank you for breaking it down, I feel less intimidated. This was helpful!

[@WinTheHouseYouLove]

I'm so glad to hear it, Shelly! If you have any other questions as you go through the home buying process, feel free to reach out. 😊

[@black_n5492]

Just used this document to walk through an initial disclosure. Thanks so much for this! Made the confusion clearer and allowed me to compare what I had been promised verbally with what was written.

[@WinTheHouseYouLove]

Incredible! So glad it was helpful!! We'd love a chance to see if we can beat your quote! www.winthehouseyoulove.com/compare

[@black_n5492]

@@WinTheHouseYouLove I did reach out but had a few details specific to my situation that your team couldn't work around. We just closed right before Christmas. Thanks for your videos and we'll keep you in mind next time, I'll have a full W-2 two years working experience by then.

[@thenicki003]

This video was very informative. I listened to this 5 times before signing my Initial Loan Estimate

[@UltamiteSHunter]

I just received my loan estimate on my first home purchase today, what a coincident. This helped me quite a bit, I semi-understood what I was looking at, but I always love more insight. Especially from someone that doesn't have their own best interest in mind. I've been watching quite a few of your videos. You provide great insight for first time home buyers like myself, thank you for all of your help!

[@Xtremeproducts]

I’m almost on the home stretch…this info is GOLDEN

[@stacyreimer5107]

Thanks Kyle you're channel has made me so knowledgeable about loans!!! You're awesome! You do not find lenders like you that are so genuine!!! Cannot thank you enough!!!! Like I said your wicked smart!! 👍😉😊

[@luisafernandez8576]

watching this now, seeing that interest rate comparted to the current ones makes me want to cry as a first time buyer hahah

[@evaarbo5456]

I just got my license as an MLO I can’t appreciate enough this type of full demo and referenced content Thank you 😇🙏

[@WinTheHouseYouLove]

Glad to help!

[@michealsizemore1]

This is the best video I have seen on the loan estimate.

[@3bdmhsen461]

It is my first time buying a home and there was some questions that kept me up at night. I came here when i needed answers or clarification on things while going through the process!! Thank you for your time and effort

[@antytrend]

Your mic is tuned to perfection!

[@jenniferschissel2353]

Such timely content for lots of folks, Kyle, thank you! The walkthrough for single income was especially helpful. Never thought I’d be takin notes on that but the Lord had better plans eh! Lol. Keep it comin! 🤚🏻

[@sebastianliu2009]

This is so funny!!! I just signed this about 2 hours ago. If you're 'cash to close' is less than you expected then the lender hooked you up because my 'cash to close' is $675 =) (i.e. final closing cost included my earnest deposit of $3.8K)

[@gabycan1914]

Amazing explanation and oh so helpful! I'm closing on my second home and just not realizing that I wasn't fully aware and informed of all the fees in the loan estimate. Thank you for sharing your knowlege!

[@WinTheHouseYouLove]

Thank you so much for watching!! :)

[@jordanwilliams9300]

This was a GREAT walkthrough. Wish I'd had it when I went through my home purchase 3 years ago. I figured everything out, but it took me a lotttttt of my time. And in between there was great confusion lol.

[@nicolelacy9492]

Thank you for this video. I’m a first time buyer and my loan officer is a bad communicator. Your video helped me understand the confusion I had with my Loan Estimate. These videos are VERY helpful! ❤

[@iPDot8]

Watching this video after getting my first loan estimate! Thank you!

[@juansanchez766]

New Loan Officer. I had to go over the Loan Estimate with my borrower and got stuck on Tittle Fees when asked about the "Loan tie-in fee". This was an excellent video.

[@jannycal]

Just signed a contract with a builder. You are so detailed and knowledgeable Thank you for the explanation line by line. I feel more confident now going through this loan process.

[@WinTheHouseYouLove]

Fantastic! Best of luck!

[@LaWanaMayfield]

Thank you for clarifying this. We are in the process on a new build & going on a 4th iteration of the loan document. The $$$ were all over the place, 3 vs 2 appraisal fees & charging a Transfer Tax that is Not allowed in my County in NC. I told the loan officer to send me a corrected form that removed the extra appraisal fee, increase the lender credit to offset the transfer tax & that we are identifying our own closing attorney so waiting for updated paperwork. This is so frustrating....

[@dennymui2]

Great video! Followed this line by line with my loan estimates and now I can really compare with confidence.

[@mtweeks]

Loving this channel. Currently doing some financial restructuring and putting away money for a down payment. Looking to purchase in a year. Your videos are incredibly insightful and encouraging.

[@WinTheHouseYouLove]

Thank you very much!

[@edithaceves7036]

Thank you for the detailed information. I was so confused about this. Wish closing costs were lower, but with so many people getting a piece of the pie it makes sense why the closing costs can be so high.

[@RealEstatepro-fs9fq]

You shouldn’t be getting a loan if you can’t afford a simple closing cost 😂

[@MrSLonoed]

Thank you for the video. It's very very helpful and easy to follow.

[@WinTheHouseYouLove]

I just recorded a personal video reply for you: vid.us/deifio

[@MyTumbleWeedHome101]

Thnak you that was very helpful....I got mine jsut now, we are days from Closing, BUT you should explain that if the DOWN PAYMENT is already paid for it will be deducted from the total on the Bottom, also the Earnest Deposit is already paid for ...

[@user-tk7sc4gz2v]

This is exactly what I was trying to understand and then this video popped up, thanks!

[@ryansaunders8099]

This video is amazingly helpful! This is a must for literally anyone going through the home buying process for the first time or the fifth time!

[@WinTheHouseYouLove]

Thanks for watching!

[@ktdin319]

Thanks a bunch for sharing. It feels like we're all gonna need our own personal attorney in order to purchase a home.

[@WinTheHouseYouLove]

Best of luck and thanks for watching!

[@realestaterealtalkwithsesta]

Amazing job at explaining this process clearly and effectively! Do you mind if I ad this video to one of my playlists?

[@WinTheHouseYouLove]

You sure can!

[@realestaterealtalkwithsesta]

@@WinTheHouseYouLove thank you!

[@PhotoColin]

THANK YOU for doing this video was extremely helpful digesting one of these, as I’m currently under contract as we speak. I was working with a lender who locked down my rate buying down points but didn’t tell me….until I saw the note under Origination Charges. Sad how lenders try to mask these sorts of things with confusing verbiage/terminology.

[@WinTheHouseYouLove]

Glad it was helpful!

[@christinea7030]

I received my loan estimate today and this made everything SO clear! Thank you!!! 😊

[@WinTheHouseYouLove]

Glad it helped!

[@chelisecaceres924]

Thank goodness I found you!!! I had so many questions and I wanted to truly under y the paperwork that will be used. Thank you so much. You made a worried couple feel so much better with your videos.

[@WinTheHouseYouLove]

Thank you so much for watching!

[@Rose-bw5cg]

Very Informative video. I had so much question and confusion as a first time home buyer before watching this video. I am at ease after watching this video. This video answere all the question that i had. Good job!!!

[@WinTheHouseYouLove]

Great to hear! Thanks for watching. :)

[@MichaelJ843]

Kyle, I used your site and found a wonderful loan officer at Alcova in South Carolina, he is such a teacher and so positive. Thanks!

[@ccrydevil666]

Section A of my closing cost details has changed 4 times since I started working with the lender on your site. 😂😂 looks like I'll be switching lenders now.

[@WinTheHouseYouLove]

Hi! I asked you to email me earlier but haven't heard from you. Section A will change if a loan isn't locked. Please email me so I can look into this [e-mail]

[@Kay-Kay56]

Thank you sooo much ❤️ First tome homebuyer here. I can watch this video with my husband because he doesn't understand why the price keeps changing.

[@WinTheHouseYouLove]

Wonderful! Thanks for watching. :)

[@chauncypeters3394]

Great video Kyle! When would you suggest is the best time to place your title order when you shop for a title company on your own?

[@gwenjackson8050]

Thank you! Thank you! Thank you because I was going to pull my lenders hair out. I received one in Feb and 2 in March.

[@kristinal4226]

Awesome video Kyle. Keep them coming! Do you have any advise on submitting our loan to underwriting for a TBD approval? One of the lenders I spoke to told me that this type of approval gives me a leg up on any other offers that have just been pre-approved. I just want to make sure that I can still shop around with lenders even if I get the TBD approval from them? Thank you!

[@Overly_nourished_entity]

Great info as always!! Wish home buying wasn’t such a hassle 🥲

[@seagravesvibe6507]

You can do it! Take Kyle’s advice and interview multiple agents In your area when your ready. I tell clients this isn’t like walking on a car sales lot where you all of a sudden walk out with a car. Get approved, interview agents who best fit you and your needs and start a home search. If you can’t find one that fits don’t feel pressured into a sale at all. If an agent is pushy or their ego is so far up their behind and they don’t make time for you drop them. Everyone is here to help and will explain every step of the way in small bites and pieces. Stay away from anyone who just views you as transaction and go for that family/ friend feel. I wish you well on your journey!

[@EricV485]

It’s the most expensive thing you will ever purchase, of course it will be a hassle! 😅

[@kimschneider6833]

I may be selling my home in one state and buying a condo in a new state and it's been over 20 years since we applied for a mortgage... this info was very clear and easy to understand!

[@WinTheHouseYouLove]

Hey Kim! Thanks for watching and I'm glad the info was helpful to you. Selling a home and buying a new one can be exciting but also a bit overwhelming, especially after a long time since your last mortgage application. If you're ready to start on a pre-qualification for your condo purchase, you can go to www.winthehouseyoulove.com. Let me know if you have any other questions!

[@jd1671]

Locked in at 2.875 today. No point buy down. Was offered 2.750 or .125 reduction for $2000

[@dananguyen1415]

Thank you so much for this thorough and not over complicated explanation video!!

[@tierralewis8899]

Another awesome breakdown video! Keep them coming!

[@Ashley.Alvarez]

Thank you for explaining this. Crazy to see how my cash to close is 132,422 I'm just confused how I'm supposed to bring this

[@WinTheHouseYouLove]

Wow! Best of luck!

[@Ashley.Alvarez]

@@WinTheHouseYouLove lol right it's half of what the loan is

[@harinat]

Nice explanation on loan estimates.Thank you. This should enjoy more views

[@lucemagee4534]

This was unbelievably helpful. Thanks a million!

[@WinTheHouseYouLove]

Glad it was helpful! Thanks for watching. :)

[@nr9293]

How many days before closing should you receive the closing disclosure?

[@WinTheHouseYouLove]

3

[@darlinnikki9514]

Thank you so much for reviewing the Loan Estimate. I just received an updated version of my Closing Disclosure and will compare it to (1) the Loan Estimate and (2) the First Closing Disclosure. Cash at Closing increased by nearly $1K.

[@WinTheHouseYouLove]

Woof, that's not good!

[@engineerahmedabbas]

All your videos are very helpful! Are you by any chance planning on putting together a video for CD, Closing Disclosure, explained?

[@WinTheHouseYouLove]

Thanks! Ooh, yes it's on my list :)

[@remy9536]

Liked! Wow, that was very informative. Great work!!

[@WinTheHouseYouLove]

Much appreciated! Thank you for watching. :)

[@jayvito86]

signed my contract few days and going through my loan estimate as I watch this.

[@WinTheHouseYouLove]

Best of luck!

[@sapphire6107]

This really educate me for my future home purchase. I was naive the first time. Thanks so much!

[@WinTheHouseYouLove]

You are so welcome! Best of luck!

[@whoabrian]

This was awesome! Thanks for the clear explanation! Helps so much. Cheers!

[@WinTheHouseYouLove]

Thanks for watching! Cheers!

[@marksmith9237]

Lots of good info, Ty!! As mortgage loan closer or loan processor most of my adult life over the past 24 years including now - great and important information!! My only criticism, as an inactive real estate agent as well is that your description is slightly inaccurate below in the summary - the LE is required 3 bus days after 'contract' but in your video start you do point out after 'application' or info given by borrowers constituting ' an application' .. may throw some 1st time homebuyers etc that got 'prequalified' and made house offer and went under contract, but still need to give lender info or make 'app' but overall great stuff on the best investment anyone can make for personal wealth building imho - no matter the market buyers/seller's etc Best Long term/retirement investment.

[@WinTheHouseYouLove]

Thanks, I'll clarify that :)

[@teddybear8571]

Thank you for that break down of the loan estimate. Good information.👌🏽😁

[@WinTheHouseYouLove]

Glad it was helpful!

[@elanahammer1076]

This is informative and helpful. I appreciate you breaking this down line by line. Thank you. 🤔❤🇺🇸

[@citrinehills7131]

can you get this loan estimate prior to being on contract? I don't want to commit to anything until i can shop around and compare lenders offers

[@ThaGr8YT]

Thank you Kyle! Your videos have really helped my wife and I over the past year of saving and paying off debt. We’re looking to buy our first home sometime next year and your videos have given us so much knowledge to pull from as we begin that journey! Wish you nothing but success, as you’ve helped us and so many others!! Love the channel and content!! You rock! 🤘🏻🤘🏻

[@CharmedLifeMotivation]

First off thank u for this breakdown really helps a lot. Second my estimated total closing cost is $7,700. My seller credits are $9,451 and adjustments of other credits is $190 and my estimated cash to close is -$1,919. So does this mean I don't need to bring anything tp closing? And I have to come out of pocket for Home Owners Insurance? I did pay a $1,750 Earnest Money Deposit that's not reflected on my estimate and also a $625 appraisal fee. Thank u in advance for any answers.

[@nickiesimon2127]

How did it go? Did u get $ back? 😅

[@VinayThomas]

This is an awesome video. I really appreciate all your content and how you just get to the point with the details

[@WinTheHouseYouLove]

I appreciate that! Thanks!

[@bigkieppo]

🔥🔥🔥 shirt! Let me know when you got it from. And as always, great content!

[@WinTheHouseYouLove]

Thanks! It's from Suitsupply

[@calebpeters3857]

thank you for reviewing this information

[@WinTheHouseYouLove]

Thanks for watching. :)

[@fredswartley9778]

Excellent breakdown of the loan estimate. So lenders cannot give you a loan estimate after you get pre-approved? They only give you one after you go under contract, right?

[@michealsizemore1]

Will you get a loan estimate if you don't have a property picked out yet.

[@GeoZero]

Great explanations: Question on a new home construction loan where the home may be out 9-12 months before completed, there would not be any loan locks since they don't go out that far? What can be offered to a buyer on a new construction - floating rates only?

[@WinTheHouseYouLove]

Most locks beyond 60 days get very expensive in their up-front costs. Not to mention, if the lock expires it's expensive to extend or pay a relock fee. With new construction most people will float until the completion date is more clear (e.g. 60 days in the future) and then lock. Some lenders will offer things like a 180 day lock.

[@pops1pops178]

I got the loan estimate before my closing date and before my credit was actually pulled the intrest rate is inaccurate so basically it's a rough estimate

[@jtreyshorts4262]

I just used this as a guideline for my loan estimate thank you !!!!

[@WinTheHouseYouLove]

I'm so glad my video helped you understand your loan estimate better! Please let me know if you have any other questions as you move forward with your home purchase. When you're ready, go ahead and schedule a call with our team to get started on your pre-qualification: www.winthehouseyoulove.com/call

[@esmeraldamanning2299]

Such a great video! I'm currently looking over all my paperwork. Man that interest rate is looking so good right now. We're in the process of closing and currently at 6.85. Hoping the rates drop again

[@WinTheHouseYouLove]

Best of luck!

[@rubikclub]

Keep coming back to this video while we are closing! For the “service that we can’t shop for”, you mentioned that it can’t be increased significantly, but for service like appraisal fee that getting charged upfront, if any of the services turns out to be less than the estimate, would we get the money back as well?

[@nr9293]

Thanks so much for making this video. Exactly what I needed to better understand things. Wish my loan officer would care to explain all of this even a little bit. 😒

[@WinTheHouseYouLove]

Thank you so much for watching!! :)

[@lauriekepaa8464]

Thank you sue very helpful I really enjoy all your videos very informational keep making them videos

[@WinTheHouseYouLove]

Glad you like them! Thanks for watching. :)

[@Leondon73]

Can loan officers lock in your rate before any offers get accepted or they always need to wait until an offer is accepted? Thanks for the break down! It's really appreciated! :)

[@k.b.s4703]

Can loan estimate go down ? Is the loan estimate based on the pre approval credit run. They run it again right?

[@WinTheHouseYouLove]

Yes it can

[@makeshiftplayer]

What if my estimate has a smaller downpayment than the 3.5 minimum?

[@r.martinez6257]

Awesome explanation.. thanks much for the breakdown!.😎

[@WinTheHouseYouLove]

No problem 👍

[@margeauxjenkins12]

Is it good to accept Interest rates that INCLUDE points or better off with par Interest rate quoted and listed on loan pre-approval

[@dj.1094]

This was so helpful! Thank you!

[@atps7057]

Such a fantastic review. Thank you!

[@mimimtf]

Hello there! I was wondering, if when looking over the loan estimate, should I bring to the loan officer’s attention discrepancies I noticed with the amount of outstanding debt that’s listed in the loan estimate?

[@AvimReyes]

I was comparing Closing cost Details between 2 lenders, Something caught my eye In the Property Tax escrow section Lender #1- $55 for 2 months Lender #2- $101 for 11 months You stated they can’t control property tax bc that’s the county’s job. Mainly worried about the months why would that fluctuate so much?

[@WinTheHouseYouLove]

Since a lender doesn't know when you're closing, they don't know what kind of tax bill will be due

[@Marketplacere]

Amazing video!!! really and truly insightful. I really learned a lot, thank you.

[@WinTheHouseYouLove]

Glad it was helpful!

[@moneycntbuyskill4095]

I got my initial loan disclosure today so that means I get my official closing disclosure on Tuesday?

[@Croix98101]

Mr. Kyle, do you have a mortgage calculator and financial tool kit. Im downloading the pdf and need to see how the numbers will work for me. Thanks

[@katherineweinsheim1988]

Can you explain in more detail what the TIP means? I want to make sure I understand that correct. What I got from it was that % is the gain the lender makes from you.

[@WinTheHouseYouLove]

It's the total interest you pay compared to the loan. It's not what the lender makes. Interest is paid out on the secondary market. Lenders usually don't get paid from interest, rather a yield spread premium when the loan is packaged into a security.

[@katherineweinsheim1988]

What does it mean to be under contract? The loan estimate is for shopping around with lenders right? When do you go under contract? Can’t you Negotiate the origination fees? It seems like they’re gonna make enough money with the interest rate let alone charge you extra. 🤷🏼‍♀️

[@WinTheHouseYouLove]

When you sign a contract to purchase a home. LE helps you understand costs of a loan. You can try but they're set by the company, I've never seen a company negotiate with a buyer on origination fees. Lenders don't make money from interest, they make it from a yield spread premium. The interest paid goes into the secondary market into things like retirement funds, pensions, etc.

[@blueviolets2106]

I just received this today. Thank you!

[@lmcknight21078]

This was extremely informative and helpful

[@WinTheHouseYouLove]

Glad you think so!

[@helenmelaku4693]

Thank you, very detailed and easy to understand. 😊

[@WinTheHouseYouLove]

You’re welcome 😊

[@macylobeauty]

Great overview, thank you so much for this video!!

[@WinTheHouseYouLove]

Hey Macy! Thank you so much for your kind words and support! I'm really glad you found the video helpful. If you're ready to take the next step and start on a pre-qualification, you can visit www.winthehouseyoulove.com/lender or shoot me an email at [e-mail]. I'm here to help!

[@Johannapg420]

Great video! Just a quick question, does the figures in lines: down payment + deposit get added together and subtracted from purchase amount for loan amount? Thank you

[@WinTheHouseYouLove]

Hey Johanna! Thanks for watching and great question! Yes, you're absolutely right. You would add your down payment and deposit together, and then subtract that sum from the purchase price of the home. The result would be the loan amount you'd need to finance. If you're ready to start on a pre-approval, feel free to head over to www.winthehouseyoulove.com/lender or email me at [e-mail]. Let me know if you have any more questions! 😊🏠 - Kyle

[@cynthialeveque6606]

Interest is paid in arrears so that is why you skip one full month from funding month to establish first payment date of loan. In other words when you make your March 1st payment that covers February's accrued interest...April 1st payment covers accrued interest for March and so on....

[@WinTheHouseYouLove]

Yes

[@davepark5374]

Good information . Thanks!

[@WinTheHouseYouLove]

Glad it was helpful!

[@TheEdutainersPR]

When I compare this documents with the one that I just received yesterday, with these crazy interest rates and I just want to cry 😭

[@joethemlo]

Great video bro!

[@WinTheHouseYouLove]

Appreciate it!