How Much Home to Buy

Transcription

Will him him a to know you run the fence we’re still coming down weight on its like it’s the software does it good good and I got my TIR what okay with her topic to starting with how much how do you know how much time do I episode 11 over this, rude and just a tad she happens right started off this is episode 11 of the Steven Tyler show kickoff now and a is why they are.com here and we are starting our as we set 11th episode here of the Steven Tyler show we talk about Tyler Tulsa mortgage Colorado mortgage Springs mortgage Alamosa mortgage private mortgage Columbia Missouri mortgage Columbia mortgage less Farmington mortgage Farmington New Mexico that’s right up front talk about those with special guest tonight for a few episodes were this and that is 210 well to unannounced to drum roll that are vulnerable something something needs to be him Mr. Brian Newport Brian Neuwirth is a Michelle Brian how are you today I’m going are you guys were doing also great Brian is in from Colorado Springs mortgage lender up there so Brian I know that you dysfluent on an airplane and the talking tonight about how to know how much home by and talk about you know three things the buyer should know one of them being know the next payment that you’re comfortable with because it’s pretty important thing now note their Tyler what you’re comfortable with the next date your comfort with in the next failure renderer is comfortable with because this can become two completely different things and then what’s with the run their Tyler know how much money down you will need if any see my nine it but but she better be prepared for your bring to the table as we see it all the time right your realtor at the contract of vicious at last week actually the contract was a second all hundred and 90,000 and the social of the 5000 and be able and there were like the buyer Brian is saying on a breathing to the point will closing costs or $6400 so you do the math there brought how much of to the about 1400 you so guess what happens your not prepared for how much money you will need and so that’s where you will make sure that you and those my notable quotable like a jump right into our are notable quotable after 3 million points remember those my realtor told me I would have to bring 5000 the table what so listen here’s a lesson fromreviews this five of you that are on your watching Abram radius of IFI I found the sky on the microphones I work with my golf shirt saga comments come on Facebook so look to talk your realtor about how much money you bring to the table Brian do not talk to realtor out like you to get in touch with your monthly payment is absolutely not really talk to talk to your lender you talk to lender about your loan your realtor finds the property for your lender does for the time anything about that you are realtor Jeff Ellis you completely incompetent and/or just you knew your job I knew how to negotiate a contract but I had no idea what somebody payment was in a meeting I was ended up and down is not my do so was that done over a beer with the lender and so will alone with a red China Gossard on that site that’s right Bromley that’s right that’s out goes so listen that’s a big thing that’s why put is a call regarding like what I hear from buyers more than bike actually too much and you know as a lender you got it be right in the buyer space about this stuff is just you know don’t talk your realtor about what you’re bringing to the table mean honestly do not do that because at the end of the day you’re going to be seven mistaken what else do not talk to realtor outbreak of your time at the Max payment your cover with Tyler what’s another thing experienced recently in that realm November I don’t understand I mean… I want take I put on fresh off the golf course that’s wonderful golf will golf analogies here a lot take a call IT and I put it down on the ground and I put a ball right on top of it in a mighty Tyler just take a shot in your light is removed to Steve is the one who are due by shot take the freaking
shot in your right I to talk about boss man so okay we talked about this earlier my realtor told me my pain of it was I think we get to that teatime show was you are trying to set me up for like later it for later for sure to thought days your question the promotion talk to your realtor our your payments innovative or how much money you bring to the table will be painful for you what you think is what comes out we just want make sure you have a surprises into and when you’re expecting that your realtor knows how much money are bringing what your monthly payment is usually be surprised as we comes to so and that’s the the kids they sifted that’s this the test the soundboard to step on that’s all… (That button so how do you know the Max payment your company with those of every Brian Dunn home loans – I don’t know for a long time so that one of the things that I’ve experienced with buyers is regardless of what I tell them that the qualified for a lot of times people have like a predetermined number of their head of what they are called with of the experiences of units correct a lot of times they you add this imaginary number that they think is the right number that’s not as I comfortable with that I mean tell me what I qualify please but I mean I’m not paying more than 1000 bucks a month for mortgage company right so when we talk about know the Max payment to your company with that’s where a lot of people I think Miss the boat because they haven’t figured out not just like I think they know what they’re Max payment is Brian but they don’t know what that gets that’s correct of sometimes which comes to my statistic those talk about the stat which is completely made up because that’s what all statistics are immune they say estimated 67% of all statistics are made up on the spot including a so so I said 40% of homebuyer start looking at houses before they know what they’re qualified for in the Lacey (or this is completely made up because it is so Tyler talking about that like how many times have you taken an application from someone and they said why defend house everyday and what he did the own I can come in really a lot of times he will go out with houses before they had any clue what they’re qualified for what they’re going out the bring to the table and then if there already contract our house before we has conversation then it’s just setting him up for our break immediately became tenacity Just because they are qualify but because their expectation what their payment is and what they’re actually going to pay are two different things exactly exactly normally is thumbing there’s the rare few that are great and they have it all figured out they should probably tulsa mortgage loans brokers themselves are lenders or bankers or whatever either I find more than not that they they fail to add the taxes and interest in the property you desire to excel in our last thousand nonpayment and yet want you add the taxes and insurance at 1400 for Exactly Well Tyler that the new Max payment that you are comfortable with in the Max Payne that your lenders coupled with can often be two completely different things and that’s why that’s that’s important because 40% of homebuyer’s native statistic us that we can pass without the qualify for but it’s not just that your payment can be higher than you expected it can be higher and bilingual call qualify KOA LI FY fiancé you like it’s not like all okay well it is 1200 and 7000 but I’m comfortable with that know it’s like you qualify rough like you’re not going to buy it because you’re making of money on people don’t realize I mean if you make a rent payments $1100 a month and use automatically think that you can afford a house payment is $1100 a month your comfortable with that your arty thing but when she can us and accept the qualify sort of a different you’re exactly right so here’s the thing it’s not that like it’s a like a death sentence if you go find a house and decide that’s what you want to buy the you change your mind and you will you call your lender and they tell you you can’t qualify for that it’s
really just pain enough by tell you just kind of make sure that your voting the pain you are more than anything we talked up the point number two was the the Max payment your lenders up with chilies and material unless it’s lower than what you want right because you call you qualified for more when you bite your house right of Lisa said that I’m good I know I qualify for 2000 our tulsa mortgage loans payment but I’m pretty happy with 800 and you have to determine that on your own but the only way to determine that is to talk to wonder front to make sure that you have those things taken care of so so I think it’s time for Stewart and will that are called them back so possibly time we’re talking about Mr. and Mrs. Jones Smith Johnson rovings are and what happens Tyler they find the perfect house when we can have talk to not always as you know what happens on Monday they find out reality and the reality is often times) is either they can qualify for the don’t in that arena really is whenever someone’s already called you and told you this is the house I would like to buy a party negotiated a contract this is what I my wife loves it and it will useless the Tony’s was the right talk to your lender first you knew sugar culture lender Eric Haviland answers the phone we can like secret about, dialogue about: by newer.com because. The Tulsa mortgage to drop at their car. The Tulsa mortgage area Colorado Springs tulsa mortgage loans your lenders answer the phone when you go and whether that’s enough to block action on Saturday or 5 o’clock on Tuesday. Answer so just make sure you call you and because what we we have so many stories being the business story we have all kinds of great stories and not so happy stories I was on Facebook feed because at the end of the day people messed things up then we are there to witness them right and let’s go to Facebook and see what people are saying I don’t know if Steve Harrison is on here Karen Renée David McDermott joined need caching about by quite a few seven or eight 1012 you have 387 my viewers just that has become you are of our viewer numbers made up on the spot as well as you that’s a statistic only to schedule rock on Cody Sanderson so guys listen here’s the thing you want when you talk about your Max Payne you talk about with the Max payment that your lender is cut with you, how much money have to bring there’s a lot of factors ago and is not so easy Tyler like last week I get probably five phone calls us we could says I need a fee worksheet for this customer you listen but nobody’s know is complaining okay there it’s a complaint brought it just like realtors who are in the industry they think this is something that we just pulled right out of our beer to report out of an new we actually have to go run numbers we actually have to go find our interest rates are we have to go find out what you know their their own insurances we have to get an estimate from the title company went all these third-party even like These are not even involved with us while and what you find out more than not is that you will estimate you know you’ll be off by 3040 $50 on the hazard insurance or on the taxes can you don’t know whether properties located at so you know you disliked on it are edible like you sometimes eatables like sometimes it out and were pretty good American is for longtime supervisors our markets on estimating step it I mean it luck if we were so confident in ourselves and our ability to estimate the be a different story with them in the fact the matter is this it every school districts different every tax amounts over every buyer is different on insurance about electric you take somebody which I decide Brian last week two weeks ago I should say that when they got into contract we estimate a certain mountain in it in the closing costs in their first two estimates for insurance ride estimated where I thought to be on the high side of $1800 year guess how much their insurance what their their first two estimates at a funeral Tyler alone about the recovery one of them was $3000 in those
2800 and these are two major carrier so worsen are going cheese your talk about overshooting it might not only is her payment now to be $90 more month but there that’s 1000 $1200 more but what we don’t know this because we don’t ask most the time and and it’s not a question edit and loan officers can ask is how many claims that he had on your insurance in the last 10 years right and enough to go back and look at the file At the bar (complaint can together a death insurance F I that is wrangling the realtor calls you and says to me a fee sheet because I need and how much closing costs any yet so nerve-racking because your kind of you know we know our fees we know are like our title company that we use an icon thing and you know tulsa mortgage loans tax not coming prepaid interest but that was the church’s community also podcast on homeowners is because I can be a already burger so here’s loratadine the ticket only Guys the that the biggest things that I think will work facing when it comes to from a lending standpoint is is educating buyers on knowing the Max payment that their copper with making sure that they’re aware of the Max payment that the company with the fellow discomfort with and then how much money they’re going to need to bring to the table if any and that Camilla product Eleanor now Tyler we talked about is the next largest truck the return way over here that it’s kind of funny considering you are between 100,000 and 400,000,000% in the know, so they’re looking at this particular house and they’re looking at that particular house and like they qualify, while five for malicious matter what they want down payment was and so it I don’t think they know what the payment their copper with you know me the I know what worked with on a payment but it all comes down to play number three which is know how much money down you will need if any and what you’re willing to put down because I’ve had five conversations of the sky and I might like did you I go to 400 that’s great but your be conventional weaning and financial now at least 5% unless you go that really expensive Demott tulsa mortgage loans insurance of 97% which we don’t recommend and many many many cases but it is but 2% out the I hear you’re looking at $20,000 down which is a big so that conversation is sad daily on not only what you want couple of as your lender but how much money laundering today because regardless of I’m, with the 2000 payment you may not be coupled frankly grants up to talk your lender first know what your payment is no known what you qualify for know what your lender qualifies for an know what the down payment that you’re going to bring us because if you don’t you’re going to be surprised when the biggest sure to post Brian you never I do on this out there know, spring starting that run of nonmarital run amid the podcast tonight so they that’s it for today episode 11 and just rumor guys know what pain you have with the pendulum discomfort with how much money have down and what your cover putting down into not talk to your realtor about your payment your down payment is so perhaps I’m stickler to.com Tyler Weiler Company live from our Tulsa mortgage loans

Total Lending Concepts is a DBA of Midwest Mortgage Associates Corp. Midwest Mortgage Assoc. Corp. funds FHA, VA, Conventional, and USDA Guaranteed (Rural Development) mortgage loans. NMLS # 1043976. Colorado License #1043976, Missouri # 13-2126-A, Kansas License # MC.0025239, Missouri License # 1043976, Oklahoma License # ML010869, New Mexico License # 1043976. Not all Mortgage Loan Originators are licensed in all the states where MWMA is licensed. Some loan types are NOT available in every state. Call or check with an authorized Mortgage Loan Originator for program availability in your state. *"NMLS" refers to "Nationwide Mortgage Licensing System".