Well what's up everyone? It's Bob i'm
back again welcome to the sweet life money
youtube channel where i help people crush debt, build wealth,
and live their ultimate sweet life. Let's get started. Today we're talking about
Churchill Mortgage if you are looking around to either refinance
your home loan or you're buying a new home congratulations by the way
and you're looking for a home loan that will be acceptable
and will service you well is Churchill mortgage
the right opportunity now i just recently refinanced
with Churchill and today I'm going to share with you the good
the okay and the ugly on my own personal Churchill mortgage
review stay tuned so we'll start off with the
good and bad but be sure to watch this the entire way through because i am
going to share with you a little bit of a word of caution based on my own
experience with Churchill that i wish i would have known when i
got started and i want to make sure that if you're actually looking into
contacting Churchill that you that you keep this in mind
before you get to this point so if you're ready to get started
crush that like button right now and be sure to subscribe
to become part of the sweet life money channel and after all
crushing the like button subscribing it's like one of the few free things you
can do these days so take advantage of it so founded in 1992
and touted as a high recommendation from Dave Ramsey
Churchill mortgage has ultimately become a
very famous mortgage lender and that's again i think thanks to Dave Ramsey.

Ramsey of course helps people get out of debt
has the total money makeover has the financial piece
and a podcast that's listened to by millions of people
Churchill mortgage is really one of the only mortgage lenders
who promote debt free home ownership it kind of sounds like an oxymoron but it's
true and they promote products and they help
you navigate those products based on what will work best for you so
you can get out of your home loan and become totally debt free wow imagine
a life with no mortgage payments what would you
do with that extra money that you would get every month
comment below and let me know what would you do would you go on more vacations
would you buy more cool things what would you do comment below
so Churchill mortgage let's go over the pros and cons I'm gonna start with the
pros gonna end with the cons and then again i'm
gonna give you a little bit of that ugly that i'm talking about that word of
warning right at the end so first the pros
Churchill mortgage does offer the conventional the
adjustable rate mortgage the FHA, USDA, VA loans, all that kind of stuff
typically if your credit score was within
620 for the loans or for the FHA back loan at least a credit score of

churchill mortgage

They do also offer jumbo loans and
very important for the Dave Ramsey followers loans to those people that may
not have a credit score i think that's a big pro especially if
you're somebody that has worked the Dave Ramsey program let's say you're out of
debt let's say you've been renting an
apartment you're completely out of consumer debt
and because you don't have any debt to your name your fico score is a big fat
zero and that's not really a bad thing that means you probably have a lot of
money in the bank but it's sometimes very hard to get a mortgage
it's sometimes very hard to get credit when you don't have any credit history
so Churchill offers you opportunities to be able to
do that through looking at other things how are
your cell phone bills being paid how are your electric bills being paid
are you on time with those type of things
and they walk you through that as long as you can prove that out you're set and
ready to go with your child mortgage i also found their underwriting in the
closing process with my personal refinance was very smooth efficient even
to the point but let's talk about some cons to the churchill mortgage process
number one they do not offer home equity products so if you're
somebody who's looking for a home equity loan of course personally i don't think
it's a good idea to do that but if you're interested don't go to
churchill they're not going to be able to offer you that they're only
in the business of doing the conventional loans and things like that
for new home ownership or for refinance purposes
and then the second thing i didn't really like was the website did seem a
little bit basic or a little bit hard to navigate
and really you don't get a lot of information on your website until you
get connected with one of their representatives
once you do that then they'll give you some information you'll be able to kind
of do everything electronically which is kind of a pro
but the con before that pro is really it's hard to navigate that
website and get the information you're looking for
right off the bat so let me take you behind the scenes a little bit i'm
actually going to show you what it looks like when you get
connected and again i did a refinance of my home mortgage
because my goal is to pay off debt and become completely mortgage free
go check out my channel you can scroll through all the videos where i'm talking
about how to pay off your mortgage and why you
want to stay motivated to pay off your mortgage
and i thought trickshot mortgage would be a great opportunity of course i'm a
follower of dave ramsey to really take in
kind of jump start that process so i'm going to take you behind the scenes of
when i went through my refinance put up some things on the board i got my phone
here i'm going to kind of scroll through and take you step
by step and then of course like i promised i will share that one thing
that word of warning that i just want you to know about
before you sign up to refinance or purchase your new home so what's really
cool is they set up a pre-call with you and that's once you get all the
information kind of what you're looking to do
what your goals are they'll kind of talk you through all that and then they'll
present you with this website and i thought this was really neat what
it basically will do is it takes you through
how much money you can expect to pay it it kind of sizes up especially for
refinances here's what your current mortgage looks
like here's what option one two three four would look like based on
what we talked about and they can throw in products such as a
15-year mortgage a 30-year mortgage an adjustable rate mortgage a
conventional loan whatever is kind of best suited for your financial
future and your current state of affairs at the time
so you can see here they were recommending to me a 30-year fixed
conventional i have a 30 year fixed conventional with
points points are where you pay up in advance
to lower the interest rate i do not recommend that
uh and then there's also opportunities for a 25-year fixed
as well i actually did not opt for a 15-year mortgage and i know a lot of
people say well why not that kind of sounds like a dumb idea
the reason i went with a 30-year mortgage on this particular refinance
is i wanted to do a few special things and i wanted to pay it off
like it's a five-year mortgage so who cares at the end of the day
if you pay off because of the amortization schedule if you pay off
your mortgage with the right intensity and with a big
enough shovel of money that you can throw at it
you get an opportunity to not even worry about how long it is because at the end
of the day you're not really paying that much
interest if you pay it off very fast and with intensity so what i
wanted to do and what i challenged churchill to do is i said i
want to as part of this refinance eliminate one private mortgage insurance
because i hate that that's literally flushing money down the
toilet i want to get rid of pain escrow i don't like paying my uh
taxes and my insurance with my monthly mortgage payment i think that's annoying
now that does come with a sense of responsibility you got to make sure that
you save up enough money to be able to pay your taxes and pay
over your home insurance directly out of your own pocket when those things come
due but if you have the responsibility to do that i actually recommend that
because what i do is i take all that money i throw it in a savings account
earning one percent or more greater interest and i leave it sit
there for a year until they say hey we want our money then i throw it at
them i keep the interest and all is good why not do that as opposed to this
escrow account where you're throwing money to the mortgage
you're not earning interest they just save it for you and they pay it for you
that kind of just annoys the hell out of me and then every year
they come back with an escrow analysis and then you gotta
oh we underestimated your taxes now we need extra money on your mortgage
every month and and your monthly payment and we
want you to do this and that no no no no no so i said churchill
get me out of that and they responded and they did
had to go up a little bit of my interest rate so my interest rate did bump up by
uh 0.25 i'm like whatever that's fine
thank you churchill for getting me out of that but what's great about this
website that they have here is they take you through
and you can adjust figures based on what works best for you
as i was going through my conference call with my representative he was
plugging in numbers and i could see him doing it live on the screen so that was
a bit of cool technology that we were working with there
to make sure that i was making the right decision and the right buying decision
because it does of course cost you money to refinance alone but
thanks to churchill and how well they presented that information i said let's
do it i'm excited i'm fired up and i'm ready to make this happen so all in all
i will say churchill for either home ownership or
for refinance is a good call here's the word of warning you've been
waiting for this here is the ugly the word
of warning churchill mortgage is a lender so what that means with mortgage
lender responsibility is they will get you all set up
you'll close on your mortgage and then typically they're going to quickly
sell that to a mortgage servicer there are investments
such as fannie mae you may have heard them before fannie mae freddie mac
ginny may all that kind of stuff where they are
backed by the u.s government but they're also you know mortgage investors
so they basically clump all these mortgages into that
and then you get stuck with a mortgage servicer
so keep that in mind that you will not be
a year from now even a couple months from now paying
your monthly mortgage to churchill mortgage you will not be going onto
their website and and filling out your check to
Churchill you're not going to be doing anything with Churchill
after you close your loan maybe a month or two before they figure out who
they're gonna you know pass you off to so just keep
that in mind i will say that transition was a little bumpy for
me uh they transferred me over to a mortgage servicer who
was going through a lot of change at the time they redid their website it was a
complete and bloody headache i had to say hey i sent in my payment and you
didn't reflect it and then they lost my payment and then
all this other stuff happened i had to figure out where my money was and
that you know when you're paying a mortgage payment that's a lot of money
to be worried about where the hell is it and why aren't you reflecting
my payment in my mortgage so flash forward today they finally got the
website fixed website is awesome everything is fine
now but that was a bit of a hassle but overall
i would recommend churchill mortgage based on what you're looking for whether
it's a refinance or your first home and if it is i want
to say congratulations so if you found this video helpful i
would appreciate a like the like not only helps this video but
it helps this channel this is a growing channel and i certainly appreciate the
support and make sure you subscribe to become
part of the sweet life money family because together we're going to crush
that build wealth live the ultimate sweet life because you
deserve it have an awesome day and we'll see you on
the next video [End Screen]

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