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How Much House Can You Afford? |
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Debt-To-Income Ratios |
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Your Monthly Income - The Way Lenders Figure It |
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Your Maximum Monthly Mortgage Payment |
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The Rest Is Easy - Sort Of... |
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Your Down Payment Affects Everthing Else |
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Analyzing Your Savings - The First Step |
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Mortgage Program Choices |
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Shopping For Intersest Rates |
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Writing Your Offer |
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Conclusion - Look At Your Savings First |
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Documenting Your Assets & Verifying Your Down Payment |
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You Can't Just "Come-Up" With The Money |
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Checking, Savings & Money Market Accounts |
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Stocks, Bonds, Mutual Funds, Etc. |
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Gifts From Family Members |
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401k Or Retirement Accounts |
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Selling Personal Property |
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Help From Employers |
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Savings Bonds |
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Borrowing To Come Up With A Down Payment |
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Where Does Mortgage Money Come From? |
| |
The Olden Days |
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How It Works Now |
| |
Mortgage-Backed Securities |
|
Different Types Of Lenders |
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Mortgage Bankers, Mortgage Brokers & Wholesale Lenders |
| |
Portfolio Lenders, Direct Lenders & Correspondents |
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Banks, Savings and Loans & Credit Unions |
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Advantages Of Dirrerent Types Of Lenders |
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What Kind Of Lender Is Best? |
| |
Portfolio Lenders, Savings and Loans & Banks |
| |
Mortgage Bankers |
| |
Mortgage Brokers & Wholesale Lenders |
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Things You Need When You Apply For A Home Loan |
| |
"Alternate" Documentation Versus Full Traditional Documentation |
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The List Of Things You Need To Get A Quick Loan Approval |
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Closing Costs When Buying Or Refinancing A Home |
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Introduction |
| |
Lender Associated Costs - The "Normal" Ones |
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Lender Associated Costs - The "Other" Ones |
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Items Paid In Advance |
| |
Impounds Or Reserves |
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Costs Not Asociated With The Lender |
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Refinancing Associated Costs |
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Asking The Seller To Pay Closing Costs - Advice And Rules |
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Mortgage Interest Rates - How It Works |
| |
A Loan Officer's Rate Sheet |
| |
Pricing The Loan |
| |
Quoting Rates To You |
| |
Locking In Your Rate |
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Shopping For Rates |
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Getting Reliable Quotes |
