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How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford?

http://videotap.wistia.com/medias/tlz6w11a9t?embedType=async&videoFoam=true&videoWidth=640 As you’ll see in the video, the lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan...

How Can I Find Out Information About My Credit History?

http://videotap.wistia.com/medias/ah2ofppr2k?embedType=async&videoFoam=true&videoWidth=640 Watch this video and take a few notes! There are three major credit reporting companies: Equifax - www.equifax.com 1-800-685-1111 Experian - www.experian.com 1-888-397-3742 Trans Union - www.transunion.com 1-800-916-8800 Obtaining your credit...

What Is A Credit Bureau Score And How Do Lenders Use Them?

http://videotap.wistia.com/medias/ucufngtfin?embedType=async&videoFoam=true&videoWidth=640 As we show you in this video, a credit bureau score, or “credit score” is a number based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to...

How Are Pre-Qualifying And Pre-Approval Different?

http://videotap.wistia.com/medias/gy3jtdbnx8?embedType=async&videoFoam=true&videoWidth=640 Watch this video and it’ll make sense. Pre-qualification is an informal way to see how much you maybe able to borrow. You can be 'pre-qualified' over the phone with no paperwork by telling a lender your income, your long-term debts and how...

What Is The Best Way To Compare Loan Terms Between Lenders?

http://videotap.wistia.com/medias/31gpk6m1q9?embedType=async&videoFoam=true&videoWidth=640 Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You should include: the company's name and basic information the type of mortgage minimum down payment required interest rate and...

What Do I Get At Closing?

http://videotap.wistia.com/medias/rs9mcfkfmt?embedType=async&videoFoam=true&videoWidth=640 For most real estate loans, you will receive a Closing Disclosure 3 business days before loan consummation – which frequently happens at the closing meeting. At the meeting itself you should receive a copy of your Mortgage Note – your...

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