Looking to buy first house: Anyone use Redfin for realtors? Questions inside

[cacicgtp7]

So wife and I are thinking of buying our first home. The Denver area real estate is out of control, and will probably only rise for awhile as the popularity is there. Obviously being in the military we can't stay here forever, so also looking at buying something that we can rent out for years to come. Property is renting out here on average in less than a week so not too worried about that for now.

Questions for those of you out there, has anyone used Redfin as a buying agent? Seems like a a cool concept and I'm willing to put in the investigative legwork.

Also going between using a VA loan or conventional loan. VA is great but load fee is 2.15% of the loan (but no PMI) and rates are 3.25% for them.

On the other hand we have enough to probably put down 20% and avoid PMI costs and go conventional but I think rates aren't as low as VA loans. So there's pro's and con's. Haven't gotten pre-approved yet, but we have cash on hand, no debts, and credit scores is 780 so not worried there.


Thoughts from those that have recently bought or gone through this?

Click to read more...

 

[Chester Copperpot]

Just bought my first house through Redfin and used a VA loan.

Truvia and Realtor.com don't even come close to the listing/information and ease of Redfin. I will use Redfin continually until something better comes along.

 

[Yaj Yak]

Just bought my first house through Redfin and used a VA loan.

Truvia and Realtor.com don't even come close to the listing/information and ease of Redfin. I will use Redfin continually until something better comes along.

did you use redfin for a realtor?

 

[Chester Copperpot]

Yes I used the agent assigned to the house and she was employed through Redfin. She was stupid professional yet personal. Her and I got a long great and I will absolutely use her again for my next home if she also has some real estate in WI.

 

[Yaj Yak]

im so glad redfin is in wisco now...

 

[cacicgtp7]

Just bought my first house through Redfin and used a VA loan.

Truvia and Realtor.com don't even come close to the listing/information and ease of Redfin. I will use Redfin continually until something better comes along.

Did you only want to use a VA loan for the PMI reasons? Or did you weigh using conventional as well? Interested on this front. Also who did you end up using for lending?

 

[wolfe]

What is redfin? I'm going to be buying a new home soon and may look into this if it's a good option.

 

[Yaj Yak]

www.redfin.com

 

[wolfe]

www.redfin.com

I'm trying to use it, but the area I'm searching isn't coming up. How does it work?

 

[Yaj Yak]

then you're fucked. it's only in some areas.

where are you located

oh and in for florida real estate icon to drop some knowledge bombs in this bitch

 

[Chester Copperpot]

Did you only want to use a VA loan for the PMI reasons? Or did you weigh using conventional as well? Interested on this front. Also who did you end up using for lending?

I only was looking into a VA specifically because of no PMI regardless of down payment.

I was originally going to use my credit union (Navy Fed) but they didn't offer the IL Welcome Home Heroes buying assistance. So I used a lender they recommended and TL;DR, I didn't even use the WHH program. Wish I would have stayed with my CU but oh well. My next house will be through them.

 

[wolfe]

then you're fucked. it's only in some areas.

where are you located

oh and in for florida real estate icon to drop some knowledge bombs in this bitch

I live out in Yorkville, but that's not where I'm going to stay.

 

[Yaj Yak]

I live out in Yorkville, but that's not where I'm going to stay.

what's the area? it should work there?

 

[GLADIATOR]

If you are a first time buyer you should go with a human being real estate agent. Your own agent, not the one listed on a property . Think of it as having your own lawyer that is going to do things in your best interest.

 

[Yaj Yak]

If you are a first time buyer you should go with a human being real estate agent. Your own agent, not the one listed on a property . Think of it as having your own lawyer that is going to do things in your best interest.

that being said too... having a lawyer is a great idea when closing as a buyer or a seller in my opinion...

 

[Flyn]

I always recommend talking with at least a couple mortgage providers first before looking for a home. That way you will have concrete numbers as to what your mortgage will cost and how much you are pre-qualified for. Plus, in your case, you will be able to discuss the advantages/disadvantages of VA or conventional with mortgage professionals. Shop around to get your best price and find a provider you feel comfortable with. Once you have the pre-qual, then you can start looking. Any good Realtor will want the pre-qual before showing you homes.

 

[Chester Copperpot]

If you are a first time buyer you should go with a human being real estate agent. Your own agent, not the one listed on a property . Think of it as having your own lawyer that is going to do things in your best interest.

that being said too... having a lawyer is a great idea when closing as a buyer or a seller in my opinion...

Yep. I used an independent lawyer that my parents used on their previous two houses. Her fees weren't bad and she helped explain a LOT of stuff to me that I otherwise wouldn't have understood.

 

[wolfe]

what's the area? it should work there?

Outside of Louisville Kentucky. I tried searching the couple of towns I'm looking and Louisville and came up with nothing.

 

[Yaj Yak]

gah what's tough too, is i don't trust every mortgage guy or realtor either. fuck. the majority of people are slimy in this world.

 

[Yaj Yak]

Outside of Louisville Kentucky. I tried searching the couple of towns I'm looking and Louisville and came up with nothing.

that may be tough. they might not be there.

 

[Yaj Yak]

Yep. I used an independent lawyer that my parents used on their previous two houses. Her fees weren't bad and she helped explain a LOT of stuff to me that I otherwise wouldn't have understood.

my lawyer cost me $300 and then saved me 1200 at closing.

worth it.

 

[Flyn]

Realtors in Florida, by law, aren't allowed to interpret contracts. A lawyer can interpret or write contracts while Realtors can only fill in the blanks. It's a good idea to have a lawyer review any documents you have questions about.

 

[CuzzinOlaf]

I have two VA loans and went through this bank with no issues.

https://afb.mortgagewebcenter.com/CheckRates

Whenever you negotiate your deal make sure there is NO money left on the table. The VA will not allow you to pocket money at the closing. I did this and lost $2k because I didn't want my closing to be delayed another 2-3 weeks on my one house. Since you're buying in Illinois you gotta factor in the property tax credit you'll be receiving if you're not putting the 20% down.

 

[cacicgtp7]

I have two VA loans and went through this bank with no issues.

https://afb.mortgagewebcenter.com/CheckRates

Whenever you negotiate your deal make sure there is NO money left on the table. The VA will not allow you to pocket money at the closing. I did this and lost $2k because I didn't want my closing to be delayed another 2-3 weeks on my one house. Since you're buying in Illinois you gotta factor in the property tax credit you'll be receiving if you're not putting the 20% down.

We're buying in Colorado so I don't think that'll apply since you have to purchase in the state of IL.


Don't know of anything like that in CO.

 

[CuzzinOlaf]

Oh, sorry, I thought you were buying here, I must have misread your post.