|About the Book|
Successful professionals today have such a wealth of information available to them that it can be overwhelming if it isn’t retained properly.Learn what lenders dont want you to know about real estate loans - How to qualify yourself for any mortgageMoreSuccessful professionals today have such a wealth of information available to them that it can be overwhelming if it isn’t retained properly.Learn what lenders dont want you to know about real estate loans - How to qualify yourself for any mortgage – understand and qualify for VA, FHA, Conventional, Constructions, hard money, and all types of real estate loans.After the information on the loan application has been validated, the value of the property has been confirmed and the title search has been completed, the loan is ready to be underwritten. Usually, a trained professional reviews all of the information, analyzes the creditworthiness of the borrower and renders a decision on the loan request. Increasingly, much of the analytical tasks of underwriting is performed by technology through artificial intelligence and use of databases. There are general secondary market underwriting guidelines, but many variables are considered in the analysis. Earl Huses’ KNOW WHAT THEY ARE…. outlines some of the basic areas and items considered in the loan underwriting process. Underwriting guidelines, red flags of underwriting and the loan-processing trail. What you need to know about underwriting a real estate loan.Earl Huses’ KNOW WHAT THEY ARE…. Defines why No-cost loans don’t eliminate costs, they convert them from costs paid upfront to costs paid over time. Other things the same, no-cost mortgages carry higher interest rates, which may be better for some borrowers, but not for others. At the same time, no-cost mortgages are easier to shop because of their simplicity, so the borrower may get a better deal.The No cost loan sections explains the ups and downs of a no cost loan such as: Any loan where the broker or lender pays all of your closing costs is commonly referred to as a no closing cost loan. These closing costs would include title & escrow fees, appraisal, lenders fees, credit report fees, and other expenses, which are non-recurring over the life of the loan. Lenders use the term non-recurring to refer to only those expenses, which are one time, and to exclude items such as interest, insurance, and property taxes, which are considered recurring closing costs because they will continue to be expenses every month. Recurring costs are not covered expenses in a no closing cost loan.What are ARM loans, how they work, are they for you, the consequences of ARM loans.Real estate, mortgage banking and title insurance companies have their own terminology as does many other professions, however, some real estate terms are often misunderstood. To better understand the terms commonly used in these industries, Earl Huses’ KNOW WHAT THEY ARE…. Defines some common real estate, mortgage banking and title insurance terms and their meanings.Throughout the entire process, first-time homebuyers, those refinancing their homes, investors, and others will encounter a variety of unfamiliar real state, mortgage and title terms that they are not familiar with. There are many terms associates with purchasing real estate that are helpful to learn.Buying and selling a home can be a trying experience, even if it isnt your first one. By using Earl Huses’ KNOW WHAT THEY ARE…. glossary you can become knowledgeable with the commonly used terms and make you more prepared for the professionals and documents youll encounter in your real estate experiences.Understanding real estate, banking and title terminology can put money in your pocket, not someone else’s! Sometimes this can be THOUSANDS of dollars. Isn’t it worth the time to read and learn?Let Earl Huses’ KNOW WHAT THEY ARE…. fantastic real estate book “Help” you to “Help” yourself save “THOUSANDS of DOLLARS on your real estate sale, purchase or when you refinance your home.This book is a “MUST” for those wishing a full understanding of the mortgage banking industry or for e wishing to fully understand all aspects of a real estate loan.