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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;...

How Should I Prepare The Inside For An Open House?

http://videotap.wistia.com/medias/17dlmq2aaj?embedType=async&videoFoam=true&videoWidth=640 For many homes and markets, professional help from someone in “staging” makes good financial sense. Like this video say, check your staging options first. If you are doing it yourself, here are 5 key tips. One -...

When Do I Get My Loan Closing Disclosure?

http://videotap.wistia.com/medias/tlxhdhtu2h?embedType=async&videoFoam=true&videoWidth=640 If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business days before consummation. It must be in writing, whether paper or digital, and...

Understanding Your Loan: Closing Disclosure Page 1

http://videotap.wistia.com/medias/kx15appmum?embedType=async&videoFoam=true&videoWidth=640 The first page of your Closing Disclosure documents: The Loan Amount - the total you will actually borrow The Interest Rate - which does NOT include the fees factored into the APR on Page 5 If this loan has a penalty for pre-payment or includes a...

Understanding Your Loan: Additional Information Can Be Important

http://videotap.wistia.com/medias/rdwm15fcoi?embedType=async&videoFoam=true&videoWidth=640 Page 4 of your Closing Disclosure is important. It is NOT just standardized form information that is identical for every loan. Review these terms: Assumption: can this loan be transferred to another person if you sell or transfer the property?...

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