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Should You Get A Mortgage From A Bank Or A Mortgage Broker?

The Ramsey Show Highlights 550 views

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Super helpful! Perfectly explained! Thank you
Comment from : @jacksonhamm6385

USA 🇺🇸
Comment from : @antwanwimberly1729

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Comment from : @KtzikXifio

15yr fixed at 1/4 of your TAKE HOME pay is not realistic for most buyers
Comment from : @unite9504

Please change the name This didn’t answer the question
Comment from : @lostandfound6

Going wholesale instead of retail generally will provide a much more competitive rate I’m work for a wholesale brokerage and can help if you have any questions
Comment from : @grabielrojas256

30 seconds in and there is incorrect information about what a conforming mortgage is 😂
Comment from : @ViralIdaho

Some lenders can get wholesale rates
Comment from : @TheStrandedSavant

VA Loans are not insured they are guaranteed There is a big difference Most professionals with property licenses know the difference
Comment from : @rhayder

The short answer is that, it doesn't matterbrbrGet the best deal you can from whoever gives the best deal and cusitmwr service that you're good with
Comment from : @ddavis8988

But will you pay more with mortgage broker? I assume you have to pay a good chunk for their work?
Comment from : @utoobrfa88ots

They need regulations on Capital Investment companies A lot of startups are overvalued and invested into by Crooks
Comment from : @danielday8828

Dave is wrong in saying appraisals were a big part of the 2006-2009 "housing crisis" meltdown and the appraisal industry went through a lot more regulations because of it Appraisers were regulated more strictly in the early 90s partly because of the S &L crash 95 of the problem causing the 2000s crash was lax lending policies especially in the sub-prime market like "liars loans" that Countrywide and others became famous for Do some research on the Dodd-Frank Act as well as those two actually were a part of the problem When Countrywide was pushed into being bought by BofA there were a lot of BofA appraisers not happy at all
Comment from : @steveludwig4200

can someone explain what he means by a 50000 mortage on a 200000 house? is that 50000 gonna be a down payment? how does that work?
Comment from : @kakexun

Very clear and helpful : thanks! I'm woeking extra to keep my ROI flowing into my mortgage payment it's the last piece of debt i have and i'm a bit overeager to see it gone Any index fund or stock tips to help that get done?
Comment from : @Hannahbenowitz

all the crap is bogas stocks
Comment from : @redeye1773

Never said what a mortgage broker is/ does
Comment from : @geremi140

I don't understand why every fails to mention USDA loans 🤔
Comment from : @Guerrero_Momma

If you don’t have a mortgage background, it’s no way you understand stand this
Comment from : @princem24

lol this is a terrible answer
Comment from : @princem24

Answered everything but a question FOR CONSUMER
Comment from : @SRP1982gonzoopera

I understand mortgage securities as they are of the banks assets How the heck can you convince a bank to give you a auto loan of 50,000 for your property Who ever underwrites that deal will def have a lot wititing and explaining to do lol 😂 Good excuses explanation on mortgage backed securities
Comment from : @xmen123ify

TF? Didn't remotely answer the question
Comment from : @dewalt5519

Lenders don't lend any money They create the funding when the borrower signs the loan documents This is the federal reserve system
Comment from : @rodolfoabarcenas6930

does this apply to bank of america as well?
Comment from : @martinofidacaro2281

What about fees!!
Comment from : @vchavez75

Just legally change your surname to Hispanic and banks will fall over each other to give you money, even if you can't afford the monthly payments
Comment from : @SignorNessuno65

Bro is spitting out complex jargon I couldnt stick for more than a minute
Comment from : @hamzakhalid9428

Broker!
Comment from : @TheDIYrealtor

I used the bank statement Cyber credible made to prove my income and it really help because I got the loan
Comment from : @Jaygetem577

I had a mortgage with PNC and all of the sudden they doubled my monthly payment! They forced me into escrow even though I was making insurance and tax payments separately They decided to force their insurance on me which was the highest available of course While in the process of refinancing with them I got a foreclosure letter out of the blue! I lost my house and truly HATE them
Comment from : @missmansfield6306

A video entitled "Should You Get A Mortgage From A Bank Or A Mortgage Broker?" that did not answer that question in any way, shape or form Thanks Dave
Comment from : @jroberts7387

Why do u need a slow turtle? Why can't u just say! Which option is best, bank or broker
Comment from : @johnr39

Came across this I been banking with 5/3 since forever no luck with the mortgage I’ve sent info no one is reaching out ect🙄
Comment from : @symone2179

I was asked to provide a proof of income verification and Premier Credible came thru with biweekly paystub and bank statement which got me approved
Comment from : @Cybercredible

Thank you very much so much for this video It was very instructive
Comment from : @MohamedKhaled-tb1fk

Well, that was interesting but didn't actually answer the implied question which is which is the best way to go Somewhat worthless video for me
Comment from : @thomasfeiller2207

Broker is a 1000 times better, their service is just outstanding
Comment from : @jeanqbxx

So who should I use?
Comment from : @SabrinaFamTV

Is chase bank good for loans?!!
Comment from : @WaqasKhan-hx4hw

Brokers are better by far
Comment from : @bluepointmortgage309

Mortgage mean Death PLege Its Against The Law I'm Contacting Federal Postal Judges
Comment from : @kobiemack7543

Dave you’re talking so much but not answering the question
Comment from : @sweetfayce18

was countrywide open in 2019?
Comment from : @HybridAgent

Brokers are better Way lower rates Way lower costs Way more regulated and ethical Unable to profit additional Yield spread brbrA broker has no reason to up sell you on the interest rate, because their commissions are capped Banks can make a lot more profit from up selling interest rates brbrBrokers are solely focused on mortgages and they are pros at it They don’t have to worry about checking, savings, auto loansbrbrIt’s simple would you prefer wholesale or retail Get the rate wholesale before it’s marked up for retail selling
Comment from : @Stxxzo

What’s wrong with Bank of America? You said you are not smart if you bank with them Could you clarify?
Comment from : @amos922

This whole 50k loan on a 200k house is confusing me Would like more detail about that of anyone could inform me on it
Comment from : @tonyhall9764

Can I borrow 50k
Comment from : @Abi-rk5ce

And I was supposed to understand that? Which one do you recommend?
Comment from : @NathanH83

Bad video said a lot of things that aren’t true
Comment from : @dangarcia8094

I have a question There is a person I hate this person has a mortgage with a bank I know what bank it is Can I buy that persons mortgage from the that bank so I can own the debt so I can foreclose on the house?" I keep getting sent to sites that want to me to get mortgages
Comment from : @drzippymcscoots8725

Today I learned how the 08 crash actually happened
Comment from : @VincentTheGoldenRetriever

This is all the Lords possession, the best is yet to come because Yahweh is preparing us a mansion to dwell in forever of love and joy!!
Comment from : @Lovepowerandrighteousness

Bought a home loan through a bank When I went to sign the papers at the lawyers office, they told me Mr Cooper owns the loan I thought it would be the bank You learn stuff everyday
Comment from : @TheFishdoctor1952

Wow, well explained You can be a teacher/professor Thank you very much
Comment from : @Marketplacere

Costco Mortgage dont use Dave's guy !!!mother fudge Costco stopped doing mortgages
Comment from : @rdbeaz

That 2008 problem sounds like it rooted from what matthew cox was doing weather it was him or not whatever
Comment from : @TheOfficialSilhouette

Absolutely horrible 😞
Comment from : @stevenflores972

oh good lord -- i listened to the first 20 seconds and can definitively say -- this guy is why problems exist in our business he speaks like he knows what he's talking about butmy goodness
Comment from : @elizabethsantos6255

SIR, I HAVE GREAT RESPECT FOR YOUR INFORMATION AND EDUCATION YOU GIVE VIEWERS MY QUESTION TO YOU IS CAN YOU EXPOUND ON MORTGAGE LENDERS WHO FAIL TO HONOR VETERANS TAX EXEMPTIONS AND END UP OVERCHARGING VETERANS FOR PROPERTY TAXES THEIR EXEMPT FROM HAVING TO PAY? Please help with this subject and let us know what to do in the event this occurs with a mortgage lender
Comment from : @cliftonfrederick1120

I broker loans A lot of times Fannie Mae and Freddie Mac will give you an appraisal waiver with a large down payment
Comment from : @thomasrhymes8337

Love ya Dave but some of the conforming information you were providing was incorrect
Comment from : @lingwanturbling2864

If you change a billion lives, that's the formula to becoming a billionaire Loaning, adding, giving, sharing, providing value creates wealth - of mind, heart, soul and yes, finances but it starts with the value you give Love it
Comment from : @anhrestuarant

My mortgage company got me a loan that had 15 less interest than the banks When getting a mortgage, let THEM fight for YOU
Comment from : @Heritagepostfarms

Is their a video on why Churchill would be best option ? Several elp’s that you promote for buying homes don’t like using Churchill so now I’m lost
Comment from : @margritski

This is partially wrong information Payments are collected not by the company that owns the loan, but by a separate company that they contract with for a year to collect payments for you Owner of the loan can collect payments themselves or sell the right to collect payments for a 05 fee for a year to a separate company called the mortgage servicer
Comment from : @Hello-zf5lq

Don’t go with Bank of America or other big national banks as they are the worst at administering those loans which can throw you into foreclosure by pretending not to receive your payments or messing up your paperwork on purpose
Comment from : @Hello-zf5lq

What’s wrong with BoA?
Comment from : @patrickhamonet4633

Easy! Both! Whoever gives you better terms and closing cost Have them battle it out for your business
Comment from : @abethereal

Very good 3xplqnation Thank you
Comment from : @rennishj

Does he ever answer the question
Comment from : @pointblank6702

Who do they sell to???
Comment from : @mynazarene1233

If they buy and sell loans why is so difficult to get one?
Comment from : @kbabyblue

"Some" of the appraisers 🤔🤔🤔
Comment from : @eventstephen

How did you get to be so smart and knowledgeable Dave
Comment from : @charleneh8084

A mortgage broker makes a percentage off your loan but they can find the best deal for you and your specific needs
Comment from : @Davinia77

For all the folks shopping for a mortgage, Dave was using some heavy jargon brbrBottom line: you should look for a broker that can shop the loan for you and has very minimal closing costs It’s inconvenient to work with a bank or broker that skyrockets closing costs Overhead fees are something to be aware of brbrWholesale mortgage brokers have the best rates and closing costs around, While correspondents and retailers have higher closing costs, along with mediocre rates
Comment from : @nickfernandez7563

Mortgage broker usually cheaper
Comment from : @johndone8045

why buy a loan another company doesnt want to keep?
Comment from : @dontworry1568

What is your contact number and information? How do we get in touch with your Company?
Comment from : @maundychilde-cress615

Great information
Comment from : @noelankarakwi7464

For everyday people, I d say go for both, negotiate and see who gives you the best It is more about talking to the right person rather than whether it is a bank or broker Broker say they help you shop around but how do you know they gave you the best? Shop yourself! Bank you have an overall relationship with and you may be benefited from holistic perspective For everyday people who cares about how the loan is managed at the back ?!
Comment from : @yichispiritual

Mortgages should be illegal
Comment from : @Leanflare

So is it stricter guidlines to get approved by a bank?
Comment from : @kun_fu_taco4775

Thank you so much, I'm literally doing what you said I'm buying a 240,000 house and I got around 180,000 I'm just gonna ask the bank for a 60,000 loan and take it like a car payment which i don't have
Comment from : @pedepablo1638