260 - INTERVIEW: Crazy LOW Interest Rate on New Build Home (BELOW 5%)
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 3 September 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
Patrick and Alex, fresh off closing on their new home, share the wild ride of switching lenders, compromising on their wish list, and ultimately landing a dream home twice the size of their rental for only $300 more per month and a SERIOUSLY low interest rates for the 2024 housing market. Their secret? A unicorn realtor, a one-of-a-kind listing, and a whole lot of patience.
Quote: "We compromised and then gained so much more from compromising." - Patrick
Highlights:
- How did Patrick and Alex end up with lender #3 after two previous attempts?
- What role did their "unicorn realtor" play in finding their dream home?
- Why is it crucial to have a strong support team during the home buying process?
- What unexpected benefits did Patrick and Alex get with their new build?
- How can understanding interest rates dramatically change your home buying budget?
General Notes: This episode is a refreshing reminder that the home buying journey isn't always linear. Patrick and Alex's experience underscores the importance of flexibility, trusting your realtor, and being open to possibilities beyond your initial expectations. It's a testament to the fact that sometimes the best deals come in unexpected packages. Remember, finding the right home isn't just about the price tag; it's about finding a place that truly fits your life and sets you up for future success.
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | I could say, do you want to know how to get your mortgage interest rate from 6.99 all the way down to 4.99 like these guys did? |
| 0:10.1 | But the reason why I'm not going to do that right now, and I just want to let you guys know, hey, listen to this interview. |
| 0:15.3 | There wasn't a magic formula. There wasn't a magic company that did that for them. |
| 0:19.9 | There wasn't some new online lender that was offering these great introductory rates. It doesn't work like that. I've been doing this almost 20 years now. And I've got to tell you something like this, not even I've ever run into with the thousands of first time homebuyers that I've worked with. And there is one trick that you can know so that if something |
| 0:38.9 | like this comes about in your neck of the woods, you can take advantage of it. And it's real simple, |
| 0:44.5 | gang. Get out there and get yourself a real unicorn support team that is actually advocating for you, |
| 0:51.7 | protecting for you, has knowledge of the area and can make something |
| 0:56.3 | incredible like this happen. Let's listen to that interview. |
| 1:15.3 | What's happening, homies? |
| 1:20.0 | We just like zipped into this real quick and we're going to start talking. |
| 1:24.8 | So Patrick and Alex, tell us, tell me real quick, when did you close on the home? |
| 1:25.9 | June 3rd. |
| 1:26.8 | June 3rd. |
| 1:29.3 | And it's June 25th. So this is fresh, |
| 1:36.0 | homies. Yeah. All right. Okay, give us your biggest tip. You just closed on a house. Everyone else is freaking out. What do you tell them? Yeah. Make sure you have all of your paperwork ready when they |
| 1:42.1 | asked for it because that was one of our biggest things is like when they |
| 1:45.9 | asked for it we were able to just send it right over as fast as possible we almost had stuff |
| 1:51.4 | before they even had it ready for them we were waiting on them to ask for the next paperwork |
| 1:57.2 | just because we knew what we needed to have even before they asked it. Killer, killer |
| 2:03.6 | tip, even in so much as the format. Like, you have everything, having it in a PDF, ready to rock. |
| 2:11.1 | Yep. We had gone through two different lenders. So the first lender kind of broke our teeth on what |
| 2:17.0 | we needed to have. |
... |
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