Military Money Masterclass: Essential Mortgage Tips for New Recruits

Transcript

Military Money Masterclass, Essential Mortgage Tips for New Military Recruits.

Here at Texas Home Loans, we’ve got you handled. Have you recently joined the military and considering buying a home? Don’t worry, we’ve got you covered. Welcome to our Financial Boot Camp. mortgage tips for new military members.

First off, let’s talk about VA loans. As a military member, you have access to these loans specifically designed for you. VA loans offer many benefits, including no down payment requirements, no mortgage insurance, and lower interest rates, but only if you go with a low margin lender. The people that market to you when you go into boot camp, those are high margin lenders.

And when you look at that, you look at their rates, they increase their margin, specifically on VA members over the regular loans. And I can show you that the numbers don’t lie. We are one of the few lenders. that does not make more money on a veteran. It’s a crazy concept. And I’ve talked about this in my other videos.

But it happens. Nobody talks about it because the people know about it are making money from it. So they’re like, well, you know, it just kind of happens. Well, is that right? Is it right to overcharge military members? Here at Texas Loans, we say no. We say no in all of our videos. We can show you with the numbers.

It’s other people are doing you disservice. That being said, let’s talk about how this VA loan is backed by Veterans Affairs, making it easier for you to qualify. Before diving in, let’s make sure you gather all your necessary documents. This includes your pay stubs, any debts you might have, your tax returns, your W2s and your Certificate of Eligibility, which you can get through your eBenefits online.

or you can get through your benefits office. If you’re prepared, you’re going to save time. Your loan will go much more smoothly. Research, research, research. It’s good that you can educate yourself about the different lenders and compare their interest rates, fees, and customer reviews. A lot, like we talked about with these other lenders, they triple their margins on veterans because a veteran loan should be lower than a conventional loan about a point.

Sometimes three quarters of one depends on the yield spread curve of that day. Like for example, right now I am 1 percent lower. with a, with the same FICO score, 680 FICO score with a conventional loan versus a VA loan, 20 percent down. And that’s not even coming to the fact that I can do the same interest rate.

three quarters a point lower with zero down. But this is that’s, that’s the difference. So by doing research and comparing, I can, we can show you online, we can do a zoom, we can share your screen, we’ll show you the pricing, you’re going to be shocked. It is a dirty secret. Nobody else wants to talk about except for us here at Texas Home Loans.

We support you as veterans and we show it with our margins. If the owners doesn’t set the margin correctly, the loan officer might be nice. He might be a fellow serviceman. He might be a good person. They don’t control the pricing. They have zero control over it. That money is stolen from high up, the corporate leaders.

Everybody knows in corporate America, those people just grab, grab, grab as much as they can until they get smacked. Well, those smacks, if you look up, if you Google fines for overcharging veterans, fines for overcharging underserved minority veterans, you’ll see some pretty famous names. I’m not going to mention those names because they’ve got big legal departments.

But you know who I’m talking about. You Google it and you see it and read for yourself. Now I can send you some more links. So, here we can help you find your dream home, get you approved for a mortgage, help you understand the budget that makes it more, you a more attractive buyer. We give them a firm offer of credit, we talk to the sales agent and say, listen, these people are approved, I’ve got their paystubs, I’ve got their W 2s, I’ve got their credit, I’ve got their COE, we’re ready to close.

As long as we get an appraisal, we can close on this. So, in summary, congratulations to recruits, you’ve now graduated from a financial boot camp. Mortgage tips for new military members. Hope these tips help you navigate the path to homeownership. And thank you for watching. Don’t forget to subscribe to our channel and for more valuable advice.

Give us a call anytime here in Boerne, Texas. Supported by Black Rifle as well. They are large military members helping servicemen. A lot of They do a lot of philanthropy for a lot of the wounded servicemen that come back from the, from the Middle East. So we’re proud to, to help businesses that help other companies.

Thank you very much. And we’ll talk to you soon.