What Does Ability To Repay Mean?

by | Dec 8, 2015 | Mortgages

  What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt...

What Are VA Home Loans?

by | Dec 8, 2015 | VA Loans

  What Are VA Loans? As the video says, the name is misleading – they’re not loans FROM the VA. The VA – short for “US Department of Veterans Affairs” – is the Federal military veteran benefit system. The VA administers benefits and services for...

What Are The Major Types Of VA Loans?

by | Dec 8, 2015 | VA Loans

  What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage...

Understanding Your Loan: Closing Disclosure Page 1

by | Dec 8, 2015 | TRID

  The first page of your Closing Disclosure documents: The Loan Amount – the total you will actually borrow The Interest Rate – which does NOT include the fees factored into the APR on Page 5 If this loan has a penalty for pre-payment or includes a...
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