Topic : Loan Basics
7 Ways to Accumulate A Down Payment
Reprinted Compliments of Fidelity National Title Insurance Company
One of the biggest problems facing potential buyers today is coming up with enough money for the down payment and closing costs. The amount of money you have available can greatly limit or increase your purchasing power. Rather than saving all of the money yourself, there are options that may help. […]
Mortgage/Home Loan Abbreviations
by Sharon Hassler, President, Go Get Experts, LLC
Confused by some of the abbreviations in the information you receive from your loan officer or mortgage broker? Here are many of the common abbreviations used today. If you have any questions about documents from your lender, do not hesitate to ask for clarification. Your loan originator wants you to understand your loan program. An […]
Go With the (Reverse) Flow
by Todd K. Ballenger, for Registered Rep.
Help your clients by reversing outdated thinking about reverse mortgages. Learn to accommodate more of their “I needs” and their “I wants.” Regard a reverse mortgage the way you would a forward mortgage: It is simply a device for improving cash flow… Read the complete article here: Go With the (Reverse) Flow
The Truth About Shopping
for Mortgage Rates
by Sharon Hassler, president, Go Get Experts, LLC
With so much lender advertising focusing just on rates, you may not be aware of the importance in choosing an experienced, reliable loan professional who can match you with the appropriate loan program. Good loan officers and mortgage brokers may quote today’s rate when asked, but they will quickly add they need to know more […]
Types of Mortgages
by Brian Sacks, Mortgage Broker, Branch Manager, Trainer, Author
There are a variety of home loan programs available to borrowers today with a number of options for each one. Following are brief summaries of the types of loans you might want to discuss with your loan expert. Your experienced loan officer will be able to provide details of each one and how they might […]
How Home Appraisal Values Are Determined
by John Moran, Senior Loan Officer
I hear the following statement at least five times a day, “My neighbor’s house is listed for X and mine’s bigger, so my house must be worth Y.” Replace X and Y with values that make sense in your neighborhood and you’ve probably heard it too. For this reason, I am going to go over […]
The Loan Process
by Sharon Hassler, president, Go Get Experts, LLC
(1) Where to Find a Loan Expert. (2) When to Apply If You’re Buying a Home. (3) What You Need for the Application. (4) Verification of Employment. (5) Opening an Escrow Account. (6) Ordering the Appraisal. (7) Ordering Hazard Insurance. (8) Additional Conditions. (9) After Loan Approval. 1. Where to Find a Loan Expert We can’t stress enough the importance of finding an experienced, reliable […]
Financing Basics
by HUD, U.S. Department of Housing and Urban Development
(1) What Is a Mortgage? (2) What Is Loan to Value (LTV) (3) What Types of Loans Are Available and What Are the Advantages? (4) When Do Adjustable Rate Mortgages (ARMs) Make Sense? (5) What Are the Advantages of 15- and 30 Year Terms? (6) Can I Pay Off My Loan Ahead of Schedule? (7) Are There Special Mortgages for […]
First Steps to Getting a Home Loan
by HUD, U.S. Department of Housing and Urban Development
(1) What Steps Need to Be Taken to Secure a Loan? (2) How Do I Choose the Right lender for Me? (3) How Are Pre-Qualifying and Pre-Approval Different? 1. What Steps Need to Be Taken to Secure a Loan? The first step in securing a loan is to complete a loan application. To do so, you’ll need the following […]
Buy-Down Mortgage Program
by Jeannine Doyle, Author and President, D & S Publications, Inc.
You may not have heard of this type of mortgage but it has been around for years, and is approved by Fannie Mae and Freddie Mac. If you like the idea of a lower payment to start, but are nervous about taking an Adjustable Rate Mortgage (ARM) with it’s potential for negative amortization (owing more […]