To know how to solve the home loan puzzle, you have to understand the rules and the important roles that are part of the mortgage approval process. Learn about the different parties you will work with while going through the home loan process and how to increase your chances of an approval in this post from loan officer and mortgage expert Stephanie Weeks.
How is mortgage appraisal different from the estimated value from your realtor? What goes into a mortgage appraisal? How will it affect your loan approval process? Can the appraiser just really guess a number and just roll with it?
In this video I explain everything you need to know about the debt to income ratio when applying for a mortgage, including what DTI is, how to calculate it, and what qualifies as a good debt to income ratio for various mortgage types.
Are you considering getting a mortgage with a new job, but not sure if it will prevent you from being approved? In this video I talk about what your mortgage lender considers when you're buying a house with a new job, and give a few examples to help demonstrate!
If you want to know how to calculate PMI on a loan, there are a lot of variables to consider. In this video I explain everything you need to know to calculate mortgage insurance the right way, including:
You know what mortgage insurance is, but what do you really know about it? Before finalizing your home loan or completing the pre-approval process, learn more about the requirements of home loan insurance.
When considering a HELOC vs cash out refi from your mortgage broker, first understand what a home equity line of credit and a cash out refinance are, then make a decision based on your specific circumstances.
In this video I explain why that is, I talk about the different types of credit score (such as the fico score), and I explain what kind of credit score you need if you want to get the best mortgage rate and price.
When it comes to a mortgage budget, how do you know what's right for you? In this video I talk about all the things you should take into consideration when it comes to your mortgage budget and mortgage payments, including the best ways to prepare, what lenders look at when it comes to your mortgage budget, common expenses people forget, and a useful rule of thumb, among other things!
What exactly is mortgage underwriting, who does the underwriting process, why do they need so much information, and how can you influence the mortgage underwriter? Be the captain of your own ship and steer the mortgage seas by understanding everything you need to know about the mortgage underwriting process!
Terms and phrases key to understanding the mortgage loan process. As a mortgage loan officer, sometimes it feels like I'm speaking another language to my clients, so I made this video with the most important mortgage terms to know if you're buying or refinancing a home.
Right now with the Covid-19 pandemic many people are considering mortgage loan deferral options, or mortgage forbearance, and in this video I give my four tips for anyone considering mortgage forbearance.
Choosing the right lender is like interviewing a potential employee or going on a first date. Not only should you ask questions; you should expect the loan officer to ask questions as well. Here are the questions you should expect potential lenders to ask.
Time matters. When it comes to securing a good interest rate and closing on your home loan, time might even be the most important factor. Learn more and what you need to consider while attempting to close your upcoming home loan.
Every year an average of 21 million people apply for mortgages in the US, and only around 7 million close. I'm on a mission is to change that by spreading mortgage education. Sign up for my newsletter to be a part of my Mortgage Peace Movement!
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