6Â minute lesson Lesson Summary Importance of timely document submission for your loan Types of documents needed for loan approval Consequences of delayed document submission Introduction to the online portal for document upload Assistance available from the transaction manager and…
6Â minute lesson Lesson Summary Sourcing and seasoning are important in the home buying process. Sourcing refers to where the money is coming from, such as a checking account or 401k. Seasoning refers to how long the money has been in…
6Â minute lesson Lesson Summary Down payment assistance programs are set up by states, Lenders or state-run organizations. These programs help first-time home buyers or those who haven't purchased a home in the last 3 years with their down payment.…
6Â minute lesson Lesson Summary Innovative Loan Concept: Introduces the AIO Principal First Loan as a groundbreaking financial tool for homeowners. Strategic Approach: Designed to optimize economic benefits for homeowners by managing cash flow and reducing interest. Banking and Mortgage…
The basics of the Rule of 2's 2 Paystubs 2 Months Bank Statements 2 years W-2 2 Years Tax Returns 2 Years of address history 2 years of job history Navigating the mortgage landscape feels akin to conquering a mountain…
6 minute lesson Lesson Summary Down Payment Basics Essential for home purchase, often around 3% for conventional loans (e.g., $12,000 on a $400,000 home). Loan Types Conventional: Minimum 3%+ down, flexible for first-time buyers. FHA: Minimum 3.5% down, suitable…
6Â minute lesson Lesson Summary Appraisal vs. Inspection: Appraisals assess a home's market value, while inspections evaluate its condition. Home Inspections: Examine the property's structural integrity and systems, identifying potential issues. Essential for uncovering hidden defects and providing negotiation leverage.…
5 minute lesson Lesson Summary Overall Timeline: Usually 21-30 days from contract to closing. Prompt responses to document requests are essential. Key Steps: Include title checks, inspections, and appraisals. Coordination and timely actions are crucial. Avoiding Delays: Respond quickly…
6Â minute lesson Lesson Summary Real Estate Agent: Guides you through the buying process, from house hunting to negotiations and closing. Loan Officer: Assists with mortgage options, application, and financing strategy. Home Inspector: Evaluates the property's condition, identifying potential issues…
6Â minute lesson Lesson Summary VA Loans: Ideal for veterans/active military, offering zero down payment and no mortgage insurance. Includes a funding fee. FHA Loans: Suitable for first-time buyers or those with lower credit scores. Requires a 3.5% down payment…