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Home arrow Business & Finance arrow The mortgage kit 6th edition

A short course of lectures
«The mortgage kit»





Financing Mortgage InsuranceOnline Interest Rate ComparisonsPrequalificationAlternative DocumentationUnderwritingSolution 5: Restructure Your Other Debt ObligationsLate Payment ChargesAdvantages and DisadvantagesWhat Is Real Estate?State and Local Housing Finance AuthoritiesWhat Is a Mortgage?New Underwriting GuidelinesConventional LoansTraditional 30-Year MortgageConventional LoansShopping for a MortgageInterest-Only MortgagesReverse Annuity MortgagesOvercoming High Housing/Debt Ratios (Not Enough Income to Qualify)Shopping ListsGetting Started on Your MortgageBorrowing More MoneyAssetsPurchase-Money MortgagesNewly Constructed HomesAppraised Value Is Less Than the Purchase PriceSettlement (Closing)Balloon versus Fully Amortizing Second MortgagesOvercoming a Bad Credit HistoryCost of RefinancingSolution 3: Document Compensating FactorsCombined Loan-to-Value (CLTV) RatioMortgage Calculation ToolsMaking the Arithmetic EasierSaving MoneyNew Developments in the Mortgage Lending IndustryTax DeductionsFinding a Lender on the InternetLocking in the RateAssumabilitySecond MortgagesVerificationApplying for a LoanRefinancingAdjustable-Rate MortgagesDetermining Your Needs and Credit SituationDown Payment and Loan-to-Value RatioBuydownsUSDA Rural Development MortgagesDeciding Whether to RefinanceEmployment HistoryRestrictions on Cash-Out Refinancing TransactionsCalculating Your SavingsBalloon LoansChoosing the Right Type of Mortgage for YouOther Mortgage PackagesHow to Borrow against Your Home EquityWhom to CallCalculating Your Monthly PaymentMortgage Lending on the InternetSolution 4: Get a CosignerSeek a Hard-Money LenderMortgage BrokersPrepayment PenaltiesHigher Rates, Shorter TermsThe Price of a MortgageAssuming a Loan versus Getting a New LoanHome Equity Lines of Credit (HELOCs) and Debt Consolidation LoansOther Mortgage ProgramsRestructuringA Final Note on ShoppingChoosing the Right Type of MortgageFannie Mae GuidelinesLocking In a RateGovernment LoansQualifying for a Mortgage LoanWhat If There Is a Skeleton in the Closet?Biweekly MortgagesAbout the AuthorHome Equity Line-of-Credit Loans (HELOCs)Fixed-Rate MortgagesGeneral InformationYour Monthly Income and ExpensesOption 2: Get New LoanPayment Option ARMGraduated-Payment MortgageDebtsFannie Mae Restrictions for Investor LoansProperty AppraisalWhy Refinance?Canvassing LendersMiscellaneous Mortgage TopicsInvestor LoansBroader Availability of Nonconforming LoansFHA, VA, and Conventional MortgagesPrequalification for Investment PropertiesThe Application ProcessAcknowledgmentsSubmitting Your ApplicationGovernment LoansChoosing an Equity LoanOvercoming a Low AppraisalComparing ARMsFHA GuidelinesFactors that Influence Rate, Points, and Mortgage InsuranceApplying for a Mortgage OnlineSource of Cash for Down Payment and Settlement CostsSelecting the Mortgage ProductYour Credit HistoryMortgage InsuranceCorrect Mistakes EarlySolution 2: Document Additional IncomeResolving Employment History ProblemsSupporting Income and Expense ProjectionsEmployment InformationNational StandardsAutomated UnderwritingOption 1: Assume Old LoanMortgage Data FormWait Until You Reestablish a Good Credit RecordMiscellaneousTwo-Steps and ResetsOvercoming Qualification ProblemsSolution 1: Restructure Your FinancingValuation MethodsComparing Your ChoicesShopping for a LoanCost-Based PricingOther Mortgage Packages-Year, Fast-Payoff MortgageBasic and Optional FeaturesFinding Sources of Cash for Down Payment and Closing CostsDiscontinuing Mortgage Insurance Premiums
 
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