Are FHA Loans Assumable? – The video provides a visually stimulating way of understanding it, but yes! You can either assume an existing FHA-insured loan… Read more
How Does The Interest Rate Factor In Securing A Mortgage Loan? – How does an interest rate have an effect on a mortgage? As you’ll see in the video, a lower interest… Read more
Can I Use My VA Eligibility More Than Once? – Is it Possible to Use My VA Eligibility Multiple Times? Yes, you can provide that certain conditions are met. You… Read more
What Is The Debt-To-Income Ratio (DTI)? – Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to… Read more
Mortgage Broker vs Mortgage Lender – Mortgage Broker vs Mortgage Lender A Mortgage Broker does only one thing and that is to shop for the best… Read more
What Are VA Home Loans? – What Are VA Loans? As the video says, the name is misleading – they’re not loans FROM the VA. The… Read more
When Do I Get My Loan Closing Disclosure? – If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction… Read more
What Is A Qualified Mortgage? – As this video explains, ‘Federal laws put into effect in 2014 and ‘supervised by the Consumer Financial Protection Bureau’define lending… Read more
Are Any Lenders Exempt From Ability-To-Repay Rules? – This video explains that some specific kinds of lending organizations are exempt from the ability-to-repay laws enacted in 2014. These… Read more
Can I Remove PMI From My Loan? – Private Mortgage Insurance can add hundreds of dollars per year to mortgage rates so it’s worth learning when you are… Read more
What Are The Major Types Of VA Loans? – What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase… Read more
What Is A Certificate of Eligibility, or COE? – What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone… Read more
Who Is Exempt From The VA Funding Fee? – Who is NOT required to pay the VA funding fee? This video could save some veterans thousands. ‘VA loan applicants… Read more
How Does Divorce Affect VA Loan Re-Eligibility? – How Does Divorce Affect VA Loan Re-Eligibility? This video highlights the rules. If a veteran with a spouse purchases a… Read more
What Is A Construction Perm Loan? – Like the man says, a’blueprint is not a house – so conventional home mortgages don’t apply to construction projects. However,… Read more
Does My Military Discharge Affect VA Loan Eligibility? – Does My Military Discharge Affect VA Loan Eligibility? As you’ll see in this video, discharge conditions can affect a veteran’s… Read more
Can I Buy A Rental Property With A VA Loan? – Can I Buy A Rental Property With A VA Loan? As the video says – NO. Buying rental property may… Read more
Calculating Your Cash To Close – Page 2 of the Loan Estimate provides the current ESTIMATED cash to close. Some costs will stay the same between… Read more
What’s Refunded If My Loan Is Higher Than My Estimate? – If the amount you pay at closing exceeds the amounts disclosed on the Loan Estimate – beyond tolerance limits for… Read more
What Will The TRID Loan Estimate Tell Me? – The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected… Read more
What Is A ‘Business Day’ For Real Estate Loan Disclosures? – ‘Business day’ is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a… Read more
Do Creditors Have To Approve TRID Loans In 3 Days? – If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within… Read more
What 6 Pieces of Information Make A TRID Loan Application? – Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount… Read more
What Disclosures Are Used For Loans Not Covered By TRID? – Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile… Read more
What Kinds Of Loans Do TRID Disclosures Cover? – TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity… Read more
What Do Lenders Have To Tell You About Your Real Estate Loan? – Federal ‘disclosure’ forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of… Read more
What Is “Prime”? – The Prime Lending Rate – sometimes just called ‘Prime’ ‘- is the interest rate that banks charge each other for… Read more
What Is An Appraisal? – Every house is unique; appraisers are trained and licensed for expertise in putting a value on properties. Appraisers don’t work… Read more
What Is An Escrow Account? Do I Need One? – As we show you in this video, an escrow account is an account, established by your lender, to set aside… Read more
What Are Discount Points? – Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, ‘points’ are… Read more
What Steps Need To Be Taken To Secure A Loan? – You’ll see some pictures in this video to help you remember later, but the first step in securing a loan… Read more
What Happens If Interest Rates Decrease And I Have A Fixed Rate Loan? – Like the video shows, if interest rates drop significantly you may want to investigate refinancing. According to the US Dept… Read more
What Is A Mortgage? – The original phrase ‘mort gage’ translates as ‘death pledge’! But as this video explains, a mortgage is a loan obtained… Read more
What Factors Affect Mortgage Payments? – Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate… Read more
Can I Pay Off My Loan Ahead Of Schedule? – Usually, Yes. Like the guy in the video says, by sending in extra money each month or making an extra… Read more
What Is Included In A Monthly Mortgage Payment? – The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes homeowner’s… Read more
How Large A Down Payment Do I Need? – There are mortgage options now available that only require a down payment of 5% or less of the purchase price.… Read more
What Is Loan To Value (LTV) And How Does It Affect The Size Of My Loan? – While this video simplifies things to help you remember, the loan to value ratio is the amount of money you… Read more
What Are The Advantages Of 15- And 30-Year Fixed-Rate Mortgages? – For both, as we show you in this video, compared with other options, ‘with fixed rates, housing costs won’t be… Read more
What Types Of Mortgage Loans Are Available? – This video tells you about the most common types: Fixed Rate, ARM, Balloon and 2-Step. First, Fixed Rate Mortgages: Payments… Read more
When Do Adjustable Rate Mortgages Make Sense? – What you’ll see in this video is, an ARM may make sense if: you are confident that your income will… Read more
Are There Special Mortgages For First-Time Homebuyers? – Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that… Read more
How Are Pre-Qualifying And Pre-Approval Different? – Watch this video and it’ll make sense. Pre-qualification is an informal way to see how much you maybe able to… Read more
What If I Find A Mistake In My Credit History? – Like the guy in the video says, simple mistakes are easily corrected by writing to the reporting company, pointing out… Read more
What Is A Credit Bureau Score And How Do Lenders Use Them? – As we show you in this video, a credit bureau score, or ‘credit score’ is a number based upon your… Read more
How Can I Find Out Information About My Credit History? – Watch this video and take a few notes! There are three major credit reporting companies: Equifax – www.equifax.com 1-800-685-1111 Experian… Read more
What Is PMI? – This video tells you about it all. PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that… Read more
What Is The Best Way To Compare Loan Terms Between Lenders? – Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You… Read more
What Are 203(B) And 203(K) Loans? – The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a… Read more
What Should I Do If I Fall Behind On A Conventional Loan? – The video puts this in more visual terms, but most importantly, talk to your lender about specific loss mitigation options.… Read more
- What Is The Debt-To-Income Ratio (DTI)? – Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to… Read more
- Are Any Lenders Exempt From Ability-To-Repay Rules? – This video explains that some specific kinds of lending organizations are exempt from the ability-to-repay laws enacted in 2014. These… Read more
- Can I Remove PMI From My Loan? – Private Mortgage Insurance can add hundreds of dollars per year to mortgage rates so it’s worth learning when you are… Read more
- What Is An Appraisal? – Every house is unique; appraisers are trained and licensed for expertise in putting a value on properties. Appraisers don’t work… Read more
- What Steps Need To Be Taken To Secure A Loan? – You’ll see some pictures in this video to help you remember later, but the first step in securing a loan… Read more
- Can I Pay Off My Loan Ahead Of Schedule? – Usually, Yes. Like the guy in the video says, by sending in extra money each month or making an extra… Read more
- What Is A Credit Bureau Score And How Do Lenders Use Them? – As we show you in this video, a credit bureau score, or ‘credit score’ is a number based upon your… Read more
- How Can I Find Out Information About My Credit History? – Watch this video and take a few notes! There are three major credit reporting companies: Equifax – www.equifax.com 1-800-685-1111 Experian… Read more
- How Are Pre-Qualifying And Pre-Approval Different? – Watch this video and it’ll make sense. Pre-qualification is an informal way to see how much you maybe able to… Read more
- What If I Find A Mistake In My Credit History? – Like the guy in the video says, simple mistakes are easily corrected by writing to the reporting company, pointing out… Read more
- What Is The Best Way To Compare Loan Terms Between Lenders? – Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You… Read more
- What Should I Do If I Fall Behind On A Conventional Loan? – The video puts this in more visual terms, but most importantly, talk to your lender about specific loss mitigation options.… Read more
What Is RESPA? – RESPA stands for the Federal Real Estate Settlement Procedures Act. This video tells you about it all. RESPA requires lenders… Read more
How Do I Choose The Best Loan Program For Me? – The video puts this in more visual terms, but your personal situation will determine the best kind of loan for… Read more
What Responsibilities Do I Have During The Lending Process? – To ensure you won’t fall victim to loan fraud, as you’ll see in this video, be sure to follow all… Read more
What Costs or Fees Are Associated With Loan Origination? – Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you’ll… Read more
How Do I Choose The Right Lender For Me? – There are some great tips in this video. Choose your lender carefully. Look for financial stability and a reputation for… Read more
What Happens After I’ve Applied For My Loan? – Once you’ve supplied the 6 required piece of information and included any other information the lender deemed necessary, you’ll receive… Read more
- How Does The Interest Rate Factor In Securing A Mortgage Loan? – How does an interest rate have an effect on a mortgage? As you’ll see in the video, a lower interest… Read more
- Mortgage Broker vs Mortgage Lender – Mortgage Broker vs Mortgage Lender A Mortgage Broker does only one thing and that is to shop for the best… Read more
- What Is A Qualified Mortgage? – As this video explains, ‘Federal laws put into effect in 2014 and ‘supervised by the Consumer Financial Protection Bureau’define lending… Read more
- What Is “Prime”? – The Prime Lending Rate – sometimes just called ‘Prime’ ‘- is the interest rate that banks charge each other for… Read more
- What Happens If Interest Rates Decrease And I Have A Fixed Rate Loan? – Like the video shows, if interest rates drop significantly you may want to investigate refinancing. According to the US Dept… Read more
- What Are Discount Points? – Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, ‘points’ are… Read more
- What Is Loan To Value (LTV) And How Does It Affect The Size Of My Loan? – While this video simplifies things to help you remember, the loan to value ratio is the amount of money you… Read more
- What Types Of Mortgage Loans Are Available? – This video tells you about the most common types: Fixed Rate, ARM, Balloon and 2-Step. First, Fixed Rate Mortgages: Payments… Read more
- What Are The Advantages Of 15- And 30-Year Fixed-Rate Mortgages? – For both, as we show you in this video, compared with other options, ‘with fixed rates, housing costs won’t be… Read more
- What Is A Mortgage? – The original phrase ‘mort gage’ translates as ‘death pledge’! But as this video explains, a mortgage is a loan obtained… Read more
- When Do Adjustable Rate Mortgages Make Sense? – What you’ll see in this video is, an ARM may make sense if: you are confident that your income will… Read more
- What Is Included In A Monthly Mortgage Payment? – The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes homeowner’s… Read more
- What Factors Affect Mortgage Payments? – Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate… Read more
- How Large A Down Payment Do I Need? – There are mortgage options now available that only require a down payment of 5% or less of the purchase price.… Read more
- Are There Special Mortgages For First-Time Homebuyers? – Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that… Read more
- What Is PMI? – This video tells you about it all. PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that… Read more
What Is Mortgage Insurance? – Like the video shows, mortgage insurance is a policy that protects lenders against some or most of the losses that… Read more
- Are FHA Loans Assumable? – The video provides a visually stimulating way of understanding it, but yes! You can either assume an existing FHA-insured loan… Read more
- Can I Use My VA Eligibility More Than Once? – Is it Possible to Use My VA Eligibility Multiple Times? Yes, you can provide that certain conditions are met. You… Read more
- What Are VA Home Loans? – What Are VA Loans? As the video says, the name is misleading – they’re not loans FROM the VA. The… Read more
- What Are The Major Types Of VA Loans? – What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase… Read more
- What Is A Certificate of Eligibility, or COE? – What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone… Read more
- Who Is Exempt From The VA Funding Fee? – Who is NOT required to pay the VA funding fee? This video could save some veterans thousands. ‘VA loan applicants… Read more
- How Does Divorce Affect VA Loan Re-Eligibility? – How Does Divorce Affect VA Loan Re-Eligibility? This video highlights the rules. If a veteran with a spouse purchases a… Read more
- What Is A Construction Perm Loan? – Like the man says, a’blueprint is not a house – so conventional home mortgages don’t apply to construction projects. However,… Read more
- Does My Military Discharge Affect VA Loan Eligibility? – Does My Military Discharge Affect VA Loan Eligibility? As you’ll see in this video, discharge conditions can affect a veteran’s… Read more
- Can I Buy A Rental Property With A VA Loan? – Can I Buy A Rental Property With A VA Loan? As the video says – NO. Buying rental property may… Read more
- What Is An Escrow Account? Do I Need One? – As we show you in this video, an escrow account is an account, established by your lender, to set aside… Read more
- What Are 203(B) And 203(K) Loans? – The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a… Read more
How Can The FHA Assist Me In Buying A Home? – Remember these points from the video:the FHA works to make homeownership a possibility for more Americans. With the FHA, you… Read more
What Are The Steps Involved In The FHA Loan Process? – The video puts this in more visual terms, but with the exception of a few additional forms the FHA loan… Read more
How Does My Credit History Impact My Ability To Qualify? – The FHA is generally more flexible than conventional lenders in its qualifying guidelines. As we show you in this video,… Read more
What Is The Debt-To-Income Ratio For FHA Loans? – Remember the pointers from this video: as of 2013, the FHA allows you to use 29% of your income towards… Read more
- When Do I Get My Loan Closing Disclosure? – If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction… Read more
- Calculating Your Cash To Close – Page 2 of the Loan Estimate provides the current ESTIMATED cash to close. Some costs will stay the same between… Read more
- What’s Refunded If My Loan Is Higher Than My Estimate? – If the amount you pay at closing exceeds the amounts disclosed on the Loan Estimate – beyond tolerance limits for… Read more
- What Will The TRID Loan Estimate Tell Me? – The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected… Read more
- What Is A ‘Business Day’ For Real Estate Loan Disclosures? – ‘Business day’ is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a… Read more
- Do Creditors Have To Approve TRID Loans In 3 Days? – If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within… Read more
- What 6 Pieces of Information Make A TRID Loan Application? – Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount… Read more
- What Disclosures Are Used For Loans Not Covered By TRID? – Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile… Read more
- What Kinds Of Loans Do TRID Disclosures Cover? – TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity… Read more
- What Do Lenders Have To Tell You About Your Real Estate Loan? – Federal ‘disclosure’ forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of… Read more
