by Eliot | Jan 13, 2014 | Federal Programs
The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines limited lender’s fees, and a maximum loan amount. 203(k) loans enable homebuyers to finance both the purchase...
by Eliot | Jan 13, 2014 | Mortgages:
This video tells you about it all. PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that provide mortgage insurance. They offer both standard and special affordable programs for borrowers. These companies provide guidelines to...
by Eliot | Jan 13, 2014 | Financing:
Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You should include: the company’s name and basic information the type of mortgage minimum down payment required interest rate and points closing...
by Eliot | Jan 13, 2014 | Financing:
You’ll see some pictures in this video to help you remember later, but a good faith estimate lists all fees paid before closing all closing costs, and any escrow costs you will encounter when purchasing a home. The lender must supply it within three days of your...
by Eliot | Jan 13, 2014 | Title and Closing
As we show you in this video: The Settlement Statement, HUD-1 Form, which itemizes services provided and the fees charged; it is filled out by the closing agent and must be given to you at or before closing. A Truth-in-Lending Statement A copy of your Mortgage Note...
