Don’t Let Your Lender Hide These Fees From You

Should you ever go under contract on a home without first seeing a detailed cost estimate from your lender? In this video, I explain why I believe the answer is no. Before you submit an offer, you should have a clear picture of what the loan could actually look like not just an interest rate quoted over the phone. I break down what a proper mortgage cost estimate should include: ✅ Current interest rate and associated points ✅ Lender and origination fees ✅ Estimated closing costs ✅ Property taxes and homeowners insurance ✅ Prepaid interest and escrow costs ✅ Estimated monthly payment ✅ Total cash needed to close I also explain why reviewing these numbers before going under contract gives you time to compare strategies, including seller concessions, rate buydowns, down-payment options, closing dates, and when your first mortgage payment may be due. The goal is simple: understand the numbers before you become contractually committed to the home. 00:00 The mortgage mistake that can cost buyers thousands 00:30 Why cost estimates matter 01:49 What a proper cost estimate should include 02:12 Why mortgage rates must be viewed in context 02:34 Breaking down closing costs 03:14 Understanding lender and origination charges 03:44 Reviewing your complete monthly payment 04:28 Questions your estimate should answer 05:09 Why seeing the numbers early matters 06:16 My approach before a buyer submits an offer 06:27 Comparing multiple loan scenarios 06:56 What to do if your lender won’t provide numbers 07:18 Final advice If you’re considering a home and want help understanding the estimated payment, closing costs, rate options, or cash to close, reach out. I’m happy to walk through the numbers with you. Mike Lindsay | Tales From a VA Lender NMLS #2215322 Email: Mike@talesfromavalender.com Phone: 907-671-7055 mortgage cost estimate, loan estimate, mortgage lender fees, closing costs, mortgage interest rate Related Searches: Can a lender give me an estimate before I make an offer? What should a mortgage cost estimate include? How do I compare mortgage lender fees? What are origination charges on a mortgage? How much cash will I need to close? Should I buy down my mortgage rate? #MortgageTips #LoanEstimate #HomeBuying #ClosingCosts #TalesFromAVALender