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What Does Ability To Repay Mean?

by title247 | Oct 20, 2017 | Mortgages:

http://bucket.wistia.com/medias/scwsh57vyc?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 title247 | Oct 20, 2017 | Mortgages:

http://bucket.wistia.com/medias/hqbc9ozrtl?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...

What Is A Rate Lock?

by title247 | Oct 20, 2017 | New Homes

http://bucket.wistia.com/medias/jwdxf0mh7f?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...

What Is A Certificate of Eligibility, or COE?

by title247 | Oct 20, 2017 | VA Loans:

http://bucket.wistia.com/medias/2jpz7aw27a?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...

What Are The Major Types Of VA Loans?

by title247 | Oct 20, 2017 | VA Loans:

http://bucket.wistia.com/medias/p4spcktof6?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...

What Are VA Home Loans?

by title247 | Oct 20, 2017 | VA Loans:

http://bucket.wistia.com/medias/ub155qt5vm?embedType=async&videoFoam=true&videoWidth=640 What Are VA Loans? As the video says, the name is misleading - they’re not loans FROM the VA. The VA - short for “US Department of Veterans Affairs” - is the Federal...

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

by title247 | Oct 20, 2017 | Mortgages:

http://bucket.wistia.com/medias/rx6321zwye?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...

Understanding Your Loan: Closing Disclosure Page 1

by title247 | Oct 20, 2017 | TRID

http://bucket.wistia.com/medias/wcvoi0j36c?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...

When Do I Get My Loan Closing Disclosure?

by title247 | Oct 20, 2017 | TRID

http://bucket.wistia.com/medias/15nhf8wyax?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...

Understanding Your Loan: Additional Information Can Be Important

by title247 | Oct 20, 2017 | TRID

http://bucket.wistia.com/medias/3usmuse8n1?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...