https://implyinfer.com

All either have the problem now or had in the past and are curious if they got a good deal.

I'm glad to take you up on your consulting offer.

If you have suggestions more than "don't trust this random internet tool even if it gives you free advice, regardless of the value it offers", please let me know [thanks emoji]

Gotta figure this one out...

AI tools like this don't generally need their own models or fine tuned LLMs. Uploading mortgage documents to ChatGPT may get some useful results but it really won't be comprehensive, it most probably won't take into account jurisdictional laws and mortgages rate data, and would be hard(er) to trust because of hallucinations without guardrails.

Technically this is an LLM wrapper but it utilizes around 5-10 prompts to extract and structure data from the document and ~15 prompts to analyze.

When I was closing on a house, I called a few friends to help review my mortgage, and we found lots of mistakes. For example, I was getting charged transfer tax, which didn’t make sense for Florida where the seller typically pays that. The deeper I dug, the more I realized how much gray area there is with these documents - what’s negotiable, what’s inflated, what's normal in the property's jurisdiction, and what’s just non-competitive but seems ok since there's a lot of simplified complexity that goes into mortgages and what's an extra 1-3% on a mortgage that's "just going to be refinanced in 6 months" when interest rates go down.

The goal is to help mortgage borrowers get better deals on their mortgage. All mortgage terms are outlined in the loan estimate and closing disclosure documents as required by the CFPB (consumer financial protection bureau) - https://www.consumerfinance.gov/owning-a-home/loan-estimate

The tool requires uploading these documents since they have all the data needed to generate the analysis on the mortgage. Technically I can have the user paste in all the data via a textbox, but then it would be much more difficult to reliably parse. Also requiring the upload of the original documents is a much cleaner experience.

However in practice it's more complicated. Homebuyers receive these documents after they already signed a binding contract to purchase. Most people don't even know what questions to ask, much less how to properly negotiate, and they're under the stress of just getting the deal done which include affording a down payment, getting a home appraisal, and making sure they're not getting into a bad deal.

Also throughout the closing, the real estate agent/mortgage broker/lender aren't incentivized to get the buyer the best deal; they usually just want to close. In general the mortgage broker/lender are not going to advise and how the customer how to shop around since it's technically illegal for them to give a "bad" loan to a buyer.