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What Are The Major Types Of VA Loans?

http://videotap.wistia.com/medias/8zzw66yr9n?embedType=async&videoFoam=true&videoWidth=640 What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates...

What Is A Certificate of Eligibility, or COE?

http://videotap.wistia.com/medias/afolvjuluc?embedType=async&videoFoam=true&videoWidth=640 What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through...

What Is A Rate Lock?

http://videotap.wistia.com/medias/x6eurxq202?embedType=async&videoFoam=true&videoWidth=640 Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term 'rate lock.' A “Rate Lock” is a guarantee that a lender will honor a...

What Is A Qualified Mortgage?

http://videotap.wistia.com/medias/t8x43cge7m?embedType=async&videoFoam=true&videoWidth=640 As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified...

What Does Ability To Repay Mean?

http://videotap.wistia.com/medias/4t4sunmwky?embedType=async&videoFoam=true&videoWidth=640 What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a...

What Is The Debt-To-Income Ratio (DTI)?

http://videotap.wistia.com/medias/rptwyfk6c5?embedType=async&videoFoam=true&videoWidth=640 Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are existing financial commitments;...

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