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What Is The Best Way To Compare Loan Terms Between Lenders?
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
How Can I Improve My Home’s Value?
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 an...
Why Use A REALTOR®
A state license is required to sell real estate. But roughly half of those licensed take the additional step of becoming a REALTOR®.
As we show you in this video, only members of the National Association of Realtors - NAR - are entitled to use that registered trad...
What Details Can I Ask Brokers In Advance?
This video tells you what any real estate professional would tell you. Ask them:
How long do homes in my neighborhood currently stay on the market?
How would you price my home?
What data did you use to arrive at that price?
How Do I Evaluate An Offer?
Well, as this story shows, there’s more to an offer than the price tag. Factors you should consider:
Is this offer at, near or above my asking price?
Are there clauses and additions in their offer that change the terms and final price subs...
What Is A Counter-Offer?
The video puts this in more visual terms, but basically, a seller can respond to a buyer’s offer with changes - a “counter” - that improves the terms.
You need to put yourself in their shoes and construct a modified offer that you think they might take that m...
What Is Mortgage Insurance?
Like the video shows, mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. Like home or auto insurance, mortgage insurance requires payment of a premium, is for protection against loss...
What Makes Up Closing Costs?
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 c...
What Are The Steps Involved In The FHA Loan Process?
The video puts this in more visual terms, but with the exception of a few additional forms the FHA loan application process is similar to that of a conventional loan.
With new automation measures FHA loans may be originated more quickly than before. And, if you don...
What Responsibilities Do I Have During The Lending Process?
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.