Real Mortgage Secrets Modules
Soft Credit Inquiry vs. Hard Credit Pull
A hard credit pull most likely will impact your credit scores by a few points, which could make the difference in dropping your scores below a loan pricing adjuster and cost you more money via a higher interest rate. A soft credit inquiry has no impact on your credit scores. Learn the difference here so that you will know if you can do anything to get your credit scores as high as possible.
Settlement Fees
There are fees involved in every loan transaction. Nobody works for free. How to shop your settlement fees and different ways to pay those fees.
Seller Credit Negotiation
Is the home seller willing to negotiate on their asking price? If so, this one strategy can save you tens of thousands of dollars MORE than what you’d get with a simple price negotiation.
Paying Mortgage Insurance
If you are making a down payment of less than 20%, financing 80% or more of the purchase price of your home, then mortgage insurance is required. Or, is it? Learn about a possible option of paying mortgage insurance, and how to compare the numbers to determine the lowest cost to you.
Conditional Loan Approval
Did you know there are five stages of what is considered “credit approval”? Only one of these stages are an absolute guarantee. Learn how being able to obtain a conditional loan approval has saved my clients tens of thousands of dollars up front in the purchase price of the home.
Loan Recast
So you have a good loan with really good terms that you have been paying on for awhile. You have reduced the balance significantly either through regular payments over time, or you have come into some money and you’d like to make a large payment do pay down the principal. Learn how you can change your required monthly payment without having to refinance with the lower loan amount. This could save you hundreds of dollars in mortgage payments each month.
60 Day Seller Rent Back
When purchasing a home, money can be tight. Moving costs can be much higher than you anticipated. However, there is a way that you may be able to live both rent free and mortgage free for anywhere from two weeks to 60 days. This can save thousands of dollars in monthly housing expense. Learn how this can be done. Rent back credit – 60 days NOTE: this strategy is ONLY applicable when you are SELLING a home, not PURCHASING a home. It also works in a seller’s market, not a buyer’s market. If you don’t have a home to sell, then don’t subscribe to this video.
Tips to Boost Your Credit Scores
https://vimeo.com/993771136/c34c3245aa
Welcome to the Inside
You are at the point where you have access to mortgage loan originator insider secrets. You will find information in this section that people who are licensed by the NMLS could or should know. This is where true insider secrets are revealed, allowing you to have access to knowledge as if you were a loan originator yourself. It’s possible some of these you already know, while most of them you may not. It all depends on your personal experience. Bottom line is this area contains information and strategies that I used for myself and would use for any family member or close personal friend.
So You’re Buying a Home
You’re going to purchase a home and you need a home loan. Don’t you want a friend, and “insider”, who will show you where all the money savings are at when doing a home loan? Of course you do! Now, you have one.
