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   Mortgage Disclosure

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   Title

• Before You Apply

  What to do to prepare up to a year in

  advance of your mortgage application.

 

• Can You Trust Your Loan Officer?

  Who does your loan officer work for,

  and how do you find the best one?

 

• Lender, Broker, or Bank?

  What type of loan Provider is right for

  you?

 

• Types of Loans

  The types of mortgage loans and

  their advantages and disadvantages.

 

• Types of Documentation

  Your options for disclosing how much

  you make and where it comes from.

 

• Underwriting

  What does an underwriter look for

  when analyzing your loan application?

 

• Pre-Approval

  What it is and isn't and how it saves

   you time and heartache.

 

• Credit

  What it is, and how it affects your life.

• Income & Employment

  How much you need to make and for

  how long in order to qualify.

 

• Down Payment/ Assets

  How much, where from, and what kind

  of money will work.

 

• Down Payment Assistance

  Short on funds?  Learn about your

  options and explore these resources.

• Processing

  What happens to your application after

  you sign it and before you close?

• Title

  What is it, what does it mean, and how

  does it work?

• Appraisals

  What is your home worth, why you

  should bother  to find out, and how

  does it affect your loan?

• Alternate Financing

  Facing rejection?  Time to get creative.

• FHA

  Low down payment, forgiving

  qualifications.  A great loan option.

 

 

 

 

Escrow and the Title Company

  Escrow has two definitions: one deals with the holding of

  monies by the lender for payment of property taxes and hazard

  insurance.  The other, the one we are dealing with here, is the

  deposit of documents and funds with a neutral third party (the

  escrow or title company) with specific instructions as to how

  they should be disbursed.  Escrow acts as the clearinghouse

  for the exchange and distribution of those documents and

  funds in connection with the transfer or financing of property.

  The services of a qualified escrow or title agent, assures all

  parties that the rules and regulations governing real property

  transfers will be strictly observed by a neutral third party with

  an objective interest in completing the transaction.

  The title agent orders a title search and prepares the title

  insurance, coordinates with the borrower, the seller, and the

  lender to ensure all documents and funds are prepared and

  ready for the closing, which the title agent then conducts.