What Can I Expect To Happen On Closing Day?
While this video simplifies things to help you remember: you'll present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller remainder of down payment, pr... read more
How Can The FHA Assist Me In Buying A Home?
Remember these points from the video:the FHA works to make homeownership a possibility for more Americans. With the FHA, you don't need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down paym... read more
What Types Of Closing Costs Are Associated With FHA-Insured Loans?
While this video simplifies things to help you remember, except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan.
As of 2013, the FHA requires a single, upfront mortgage insurance premium equal t... read more
What Should I Look Out For During The Final Walk-Through?
Well, as this story shows, this will likely be the first opportunity to examine the house without furniture giving you a clear view of everything.
Check the walls and ceilings carefully as well as any work the seller agreed to do in response to the inspection.
Any prob... read more
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.... read more
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... read more
How Do I Choose The Right Lender For Me?
There are some great tips in this video. Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction.
Be sure to choose a company that gives helpful advice and that makes you feel comfortable.
A lender that has the authority... read more
Closing Costs Explained Visually
Purchasing a home is exciting. Once escrow begins, the excitement can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate.
Closing costs simply refer to the fees associated with various thing... read more
Title Insurance Explained Visually
What is title insurance and why should any buyer get it when purchasing a home (single family, townhouse, condo, apartment, or whatever format your home purchase takes)? Doesn’t the attorney or settlement company handling the closing see to it tha... read more
Understanding Your Loan: Cash And Transaction Summaries
Page 3 of your Closing Disclosure will compare cash requirements from your Loan Estimate to your actual final charges. If “Did this change?” is “YES” notes for changed sections should be provided.
... read more
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