Mortgage Monday - What to Know to Avoid Being Scammed | Episode 67
The David Greene Show
David Greene
5 • 653 Ratings
🗓️ 23 June 2025
⏱️ 43 minutes
🧾️ Download transcript
Summary
Summary
Have you ever thought you had a good loan only to sit down to sign your closing documents and realized the fees or rate were significantly higher than you expected? That doesn’t happen by accident. It’s by design. In today’s show, David and Christian break down exactly how this happens, how you can avoid it, and how to read a loan estimate. This is definitely a show you won’t want to miss. If you’re listening on apple or Spotify, considering looking it up on YouTube where you can see the screen shared and follow along. Be sure to listen all the way to the end where two additional scams to rip off borrowers are shared. This episode is so good you’ll want to share it with others, download now!
Chapters
00:00 Introduction to Loan Estimates
02:56 Understanding Loan Costs and Fees
05:54 Exploring VA Loans and Their Benefits
08:53 Breaking Down the Loan Estimate Structure
11:53 Closing Costs and Cash to Close Explained
15:14 Navigating Third-Party Fees and Charges
17:45 The Importance of Transparency in Lending
21:06 Understanding Escrow Accounts and Payments
24:12 The Role of Lender Credits and Rate Structures
27:09 Common Pitfalls in Mortgage Lending
29:53 Final Thoughts and Resources
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Transcript
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| 0:00.0 | Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches. |
| 0:07.0 | I'm David Green, and I've been doing this for over 10 years. |
| 0:10.0 | I've seen the ups, the downs, and everything in between. |
| 0:13.0 | This is the show where we pull back the curtain and show it to you too. |
| 0:16.0 | So if you want to build wealth through real estate or you just love learning about it. You found your home. What's |
| 0:21.4 | going on everyone? Welcome to Real Talk Real Estate. This is Mortgage Monday. I'm David Green. He's |
| 0:25.8 | Christian Bachelder and we are the one brokerage. We've got an episode for you guys today that is |
| 0:30.7 | backed by popular demand. One of or maybe the best shows we've ever done on Mortgage Monday was a show where we broke down a loan |
| 0:39.8 | estimate and actually explain every single thing that's on it and what you're paying for. |
| 0:45.6 | Now, this is a step that should be included whenever you're getting a loan and often isn't |
| 0:50.7 | as you're sent something and pressure to hurry up and doc you sign it. And you don't |
| 0:54.2 | know what exactly it is that you're signing or maybe you don't care. So if you're watching today's |
| 0:59.1 | show on YouTube, you'll be able to see our screen. If you're watching on Spotify, you may be able to |
| 1:03.0 | see. But if you're listening on Apple or Spotify, please consider checking out this episode on |
| 1:07.5 | YouTube. So you can actually follow along with what we are talking about. |
| 1:10.9 | If not, you'll still be able to get a good understanding of what it is. But it will really |
| 1:14.6 | hit home if you can actually see the loan estimate that we're going to be sharing today and going |
| 1:18.7 | over everything that's on it. Now, the goal of today's show is to educate you on what you pay |
| 1:23.0 | for when you're getting a loan, what costs go to somebody like Christian and I at the one brokerage, at which cost we have nothing to do with that we don't collect, that is not money going to us or |
| 1:32.9 | the lender that we're brokering the loan through, and how savvy loan officers and different |
| 1:38.7 | loan companies can, for lack of a better phrase, rip you off by making it look like they're |
| 1:43.6 | saving you money when they're really not. |
... |
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