Loan Basics
Reprinted Compliments of Fidelity National Title Insurance Company
One of the biggest problems facing potential buyers today is coming up with enough money for the down payment and closing costs. The amount of money you have available can greatly limit or increase your purchasing power. Rather than saving all of the money yourself, there are options that may help. […]
by Sharon Hassler, President, Go Get Experts, LLC
Confused by some of the abbreviations in the information you receive from your loan officer or mortgage broker? Here are many of the common abbreviations used today. If you have any questions about documents from your lender, do not hesitate to ask for clarification. Your loan originator wants you to understand your loan program. An […]
by Sharon Hassler, President, Go Get Experts
1. Where to Find a Loan Officer
We can’t stress enough the importance of finding an experienced, reliable loan officer or mortgage broker. Start with a referral. Ask your family, friends, co-workers, real estate agent, attorney or accountant. Review the loan originators on GoGetLoan.com, too. Banks, credit unions, mortgage companies, and mortgage brokers are all sources […]
by John Moran, Senior Loan Officer
I hear the following statement at least five times a day, “My neighbor’s house is listed for X and mine’s bigger, so my house must be worth Y.” Replace X and Y with values that make sense in your neighborhood and you’ve probably heard it too. For this reason, I am going to go over […]
by HUD, U.S. Department of Housing and Urban Development
Here are some basic first steps to follow when preparing for a home mortgage loan.
1. What Steps Need to Be Taken to Secure a Home Loan?
The first step in securing a loan is to complete a home loan application. To do so, you’ll need the following information.
Pay stubs for the past 2-3 months
W-2 forms for […]
by Sharon Hassler, President, Go Get Experts
1. What Is “Fair Lending”?
The Equal Credit Opportunity Act ensures “Fair Lending” practices in that all consumers are given an equal chance to obtain credit. This act prohibits lenders from discriminating against applicants during the application or approval processes on the basis of race, color, religion, national origin, age, sex, marital status, public […]
by HUD, U.S. Department of Housing and Urban Development
(1) What Is a Mortgage?
(2) What Is Loan to Value (LTV)
(3) What Types of Loans Are Available and What Are the Advantages?
(4) When Do Adjustable Rate Mortgages (ARMs) Make Sense?
(5) What Are the Advantages of 15- and 30 Year Terms?
(6) Can I Pay Off My Loan Ahead of Schedule?
(7) Are There Special Mortgages for […]
