Summary

In this episode of Real Talk Real Estate, David Greene and Christian Bachelder discuss the ins and outs of conventional loans, including their strengths and weaknesses, the importance of choosing the right loan officer, and the process of getting pre-approved. They emphasize the need for thorough documentation, quick turnaround times, and the significance of staying informed about industry changes. The conversation also touches on the importance of personal service in the mortgage industry and the value of defensive investing in uncertain economic times.

Chapters

00:00 Introduction to Conventional Loans

01:10 Understanding Conventional vs Non-QM Loans

02:12 Strengths and Weaknesses of Conventional Loans

03:20 Choosing the Right Loan Officer

04:41 Pre-Approval vs Pre-Qualification

06:26 Importance of Documentation in Pre-Approval

08:09 Turnaround Time for Pre-Approval

10:51 Staying Updated with Industry Standards

12:20 Finding Rates on Sale

16:01 The Importance of Transparency in Loan Estimates

20:46 Understanding Lender Practices and Client Choices

21:44 Waiving Impounds: Benefits and Costs

23:09 The Importance of Keeping Your Lender Involved

26:54 The Role of Loan Brokers in Securing Better Rates

30:20 The Importance of Clear to Close Turnaround Times

34:54 The Commitment to Client Service and Availability

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