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Home buying seminars?

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sailor_mercury
Valued Contributor

Home buying seminars?

Occasionally my Credit Union (NFCU) and bank (Chase) both offer home buying seminars.  I will be looking to purchase my first home in the second half of the year.  Is it a good idea to attend from one or both potential lenders?

 

I was in the process last year and working with a Mortgage Broker that I was reffered to by a Realtor but I was also planning on 'shopping' around.  The broker had told me I qualifed for a certain loan and then later determined that I did not qualify, this changed my estimated prequalifed amount significantly.  Instead of coming to me or calling me he called my realtor and then my realtor called me and started asking me why I was shopping for homes outside of my budget.  I was FURIOUS mostly for being blindsided. 

 

I'm starting over from scratch and will be looking to close in the second half of this year.

 

I appreciate your input.

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ShanetheMortgageMan
Super Contributor

Re: Home buying seminars?

As long as they don't cost money then it never hurts to attend, worst case is you'll know the information (from reading here, etc.) and you'll realize that you know more than most homebuyers out there.  Best case is you'll learn something.  There are also online homebuying seminars, the "go at your own pace" types, in case you don't want to put aside a couple hours to attend one in person.

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Message 2 of 4
edcampbell613
Contributor

Re: Home buying seminars?

One thing to watch out for is the lenders you go to will tell you their rules on lending, 

 

They put "overlays" over the standard rules.

 

FInd a good corresponding lender that has more than one option.

Message 3 of 4
sailor_mercury
Valued Contributor

Re: Home buying seminars?

Thank you for your replies Smiley Happy

 

I will deff look at attending and keep in mind to separate their rules and offerings vs other lenders and industry standards.

 

This is my first time and I am very nervous. Smiley Happy

NFCU nCashRewards VISA - $20,000 | NFCU nRewards $10,000
AMEX Costco TrueEarnings $5,000 | AMEX Delta Gold $1,500
Chase SWA VISA $5,000 | Chase Slate $3,500 | Chase Amazon Rewards VISA $3,000
HSN Mastecard $3,500
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