Author Archives: Site Administrator
What Responsibilities Do I Have During The Lending Process?
[wistia id=”9tidfksce8″] To ensure you won’t fall victim to loan fraud, as you’ll see in this video, be sure to follow all of these steps as you apply for a loan: Be sure to read and understand everything before you sign. Refuse to sign any blank documents. Do not buy property for someone else…. Read More »
What Should I Look Out For During The Final Walk-Through?
[wistia id=”dit0wu09vg”] Well, as this story shows, this will likely be the first opportunity to examine the house without furniture giving you a clear view of everything. Check the walls and ceilings carefully as well as any work the seller agreed to do in response to the inspection. Any problems discovered previously that you… Read More »
What Types Of Closing Costs Are Associated With FHA-Insured Loans?
[wistia id=”1bhhoenu4h”] While this video simplifies things to help you remember, except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan. As of 2013, the FHA requires a single, upfront mortgage insurance premium equal to 2.25% of the mortgage to be paid at… Read More »
How Can The FHA Assist Me In Buying A Home?
[wistia id=”p91nogfbnq”] Remember these points from the video:the FHA works to make homeownership a possibility for more Americans. With the FHA, you don’t need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down payments than conventional loans. In fact, an FHA… Read More »
What Can I Expect To Happen On Closing Day?
[wistia id=”r5kprfhu4n”] While this video simplifies things to help you remember: you’ll present your paid homeowner’s insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller remainder of down payment, prepaid taxes, and so on. and then the… Read More »
What Makes Up Closing Costs?
[wistia id=”pkxz6ydvut”] What you’ll see in this video is, there may be closing costs customary or unique to a certain locality but closing costs are usually made up of the following: Attorney’s or escrow fees (Yours and your lender’s if applicable) Property taxes (to cover tax period to date) Interest (paid from date of… Read More »
What Is RESPA?
[wistia id=”91h3ypmrq9″] RESPA stands for the Federal Real Estate Settlement Procedures Act. This video tells you about it all. RESPA requires lenders to disclose information to potential customers throughout the mortgage process. By doing so, it protects borrowers from abuses by lending institutions. RESPA mandates that lenders fully inform borrowers about all closing costs,… Read More »
What Costs or Fees Are Associated With Loan Origination?
[wistia id=”o7rpio9uie”] Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you’ll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal a copy of your credit report and any additional… Read More »
How Do I Choose The Best Loan Program For Me?
[wistia id=”8ju4vwsgjw”] The video puts this in more visual terms, but your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best. Do you expect your finances to change… Read More »
How Can I Improve My Home’s Value?
[wistia id=”ifanmeazg0″] Buyers generally seek the least expensive home in the best neighborhood they can handle. Like the guy in the video says, you want to present a home that fits in the neighborhood but doesn’t stand out too much. For example if neighbors are all 4 bedrooms, 3 baths and 3000 square feet… Read More »