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

by | Jul 7, 2017 | Mortgages:

http://bucket.wistia.com/medias/eqar7dtszv?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...

What Does Ability To Repay Mean?

by | Jul 7, 2017 | Mortgages:

http://bucket.wistia.com/medias/kpqd6yyk64?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...

What Is A Qualified Mortgage?

by | Jul 7, 2017 | Mortgages:

http://bucket.wistia.com/medias/v12b4qurgc?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...

What Is Equity?

by | Apr 4, 2014 | Mortgages:

http://bucket.wistia.com/medias/sca0sby305?embedType=async&videoFoam=true&videoWidth=640 Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this...

What Is “Prime”?

by | Apr 4, 2014 | Mortgages:

http://bucket.wistia.com/medias/97ihx9459p?embedType=async&videoFoam=true&videoWidth=640 The Prime Lending Rate – sometimes just called “Prime”  – is the interest rate that banks charge each other for overnight loans. Some consumer rates –...

What Are Discount Points?

by | Jan 13, 2014 | Mortgages:

  Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage...