Don't Get Ripped Off On Your VA Mortgage

In this episode, Jennifer talks about how to avoid getting ripped off on your VA mortgage. She shares a shocking example where a veteran faced $33,000 in lender fees for a refinance, while Jennifer's team offered the same rate for only $1,500! Jennifer explains why it’s crucial to get a second opinion on your loan estimate, especially for cash-out refinances. Her team can quickly review your documents, ensuring you get a fair deal and save thousands from predatory charges.

Transcript

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Today we're going to talk about how to not get ripped off on your VA mortgage. A lot of times people go, Do I really need to worry that much, Jen? Guys, I wish you didn't. Like I've been out here for seven years telling veterans, please make sure you're looking at documents. Like it's bad. And it still is. Let me give you an example. We had a gentleman reach out just last week and he said, Hey, can you look at this? I'm about to close on this refinance, but if you can beat it, great. I looked at the loan estimate from the other lender and I almost had a heart attack. I was like, hey, did they tell you they're charging you $33,000? What? Yeah, they're charging you $33,000 in lender fees. In this situation, the guy was doing a cash-out refinance to take out $24,000. The lender was literally getting a car out of them to give them less. So we looked at it and I'm like, we can beat this, no problem. This is insane. Like, please don't close with them. Please, please, please. Jen Anderson on my team is working on the file, and she locked it the same day. Yeah, so for the same exact rate, okay, same exact rate. Now keep in mind, we are one of the top VA lending teams in America. We have all the experience in the world. On this side, no one's ever heard of any of these people, right? Same rate. That's what we had to charge him for the rate that they charged him $33,000 for. $1,500. That lender was literally getting a Mazda Miata out of this guy. And those are awesome cars, but it's crazy. And that's the type of stuff we see. Usually where I see the most ridiculous behavior is cash out refinances. Um, that's one of the big areas. So if you're doing a cash out refi with any of this, just reach out to us 786-933-2077. That's how you're not gonna get ripped off. It doesn't mean we're always gonna beat everyone, but you need to keep in mind that because we do so many loans every single day across the country, especially VA, we see everything. So when we see your loan estimate, if it's a good loan estimate, I'll be the first person to be like, that's awesome. You should go with that lender, that's amazing. They're treating you good because ultimately that's what we want in the industry. There's enough business for everyone. So let's get out the predators, right? And if you're in a situation where you're getting ripped off, we're gonna save you money. So it's really easy. It's free, it's a text or a call. You know, we're gonna wanna see the loan estimate and we'll tell you like, is this a good deal or is it not? I feel like with purchases, I don't see $30,000 differences, but I do see $10,000 to $20,000. And I'll see stuff where the lender's like, oh, well, your credit's bad, so I have to charge you a lot, you know, or we'll see that the seller gave the buyer a credit and they're just doing fake buy downs. Like there's messes, right? But the bottom line is this you're getting a mortgage, whether you're refinancing or you're buying a house. You want to make sure that you're getting a fair deal. Call us 786-933-2077. We can help you across the country. I'm everywhere but Rhode Island and Utah. And one of my very good friends, Julie, is a loan officer in those states and can look at your loan estimate and say, yeah, that's really good, or no, it's not. Because the sad thing is that a lot of the places that you would assume are gonna give you the best deal because you have a banking relationship with them or you've seen their ads for years, often that's where you're paying more. Okay, so really be careful out there. Um, you know, if the realtor is like, oh, my lender's the lowest, never trust them. Send it to us. If it's good, we'll tell you to reward that lender. Tell them they're awesome. If it's bad, we'll save you money. Thanks for watching.