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A short course of lectures
«The mortgage kit»





Choosing the Right Type of MortgageEmployment InformationOption 1: Assume Old LoanAutomated UnderwritingBuydownsShopping ListsFinancing Mortgage InsuranceRestructuringMortgage Data FormPayment Option ARMInvestor LoansBiweekly MortgagesMortgage InsuranceSolution 3: Document Compensating FactorsUnderwritingBroader Availability of Nonconforming LoansCanvassing LendersChoosing the Right Type of Mortgage for YouHow to Borrow against Your Home EquityProperty AppraisalAlternative DocumentationHome Equity Lines of Credit (HELOCs) and Debt Consolidation LoansCalculating Your Monthly PaymentNew Underwriting GuidelinesOvercoming a Low AppraisalUSDA Rural Development MortgagesAssetsWhat If There Is a Skeleton in the Closet?The Application ProcessFactors that Influence Rate, Points, and Mortgage InsuranceSolution 5: Restructure Your Other Debt ObligationsGeneral InformationCost of RefinancingPrequalification for Investment PropertiesCombined Loan-to-Value (CLTV) RatioPrequalificationFHA GuidelinesHome Equity Line-of-Credit Loans (HELOCs)Calculating Your SavingsWhy Refinance?Prepayment PenaltiesYour Monthly Income and Expenses-Year, Fast-Payoff MortgageSeek a Hard-Money LenderOption 2: Get New LoanMortgage BrokersLocking In a RateFannie Mae Restrictions for Investor LoansOther Mortgage PackagesComparing Your ChoicesA Final Note on ShoppingOther Mortgage PackagesSource of Cash for Down Payment and Settlement CostsWhom to CallPurchase-Money MortgagesDebtsRefinancingTwo-Steps and ResetsCost-Based PricingBorrowing More MoneyAssuming a Loan versus Getting a New LoanConventional LoansHigher Rates, Shorter TermsSolution 1: Restructure Your FinancingWait Until You Reestablish a Good Credit RecordRestrictions on Cash-Out Refinancing TransactionsCorrect Mistakes EarlyState and Local Housing Finance AuthoritiesSettlement (Closing)Applying for a Mortgage OnlineSupporting Income and Expense ProjectionsValuation MethodsOvercoming High Housing/Debt Ratios (Not Enough Income to Qualify)Qualifying for a Mortgage LoanAdjustable-Rate MortgagesFinding a Lender on the InternetApplying for a LoanGraduated-Payment MortgageLate Payment ChargesMiscellaneousDetermining Your Needs and Credit SituationShopping for a LoanWhat Is a Mortgage?Conventional LoansTraditional 30-Year MortgageWhat Is Real Estate?Second MortgagesDiscontinuing Mortgage Insurance PremiumsInterest-Only MortgagesFixed-Rate MortgagesAbout the AuthorSolution 4: Get a CosignerThe Price of a MortgageGetting Started on Your MortgageSubmitting Your ApplicationOvercoming Qualification ProblemsFannie Mae GuidelinesBalloon versus Fully Amortizing Second MortgagesAdvantages and DisadvantagesNew Developments in the Mortgage Lending IndustryResolving Employment History ProblemsOvercoming a Bad Credit HistoryReverse Annuity MortgagesMiscellaneous Mortgage TopicsLocking in the RateDown Payment and Loan-to-Value RatioGovernment LoansMortgage Calculation ToolsSaving MoneyOnline Interest Rate ComparisonsVerificationOther Mortgage ProgramsBasic and Optional FeaturesAcknowledgmentsSolution 2: Document Additional IncomeDeciding Whether to RefinanceAppraised Value Is Less Than the Purchase PriceFinding Sources of Cash for Down Payment and Closing CostsAssumabilityChoosing an Equity LoanBalloon LoansTax DeductionsFHA, VA, and Conventional MortgagesComparing ARMsShopping for a MortgageYour Credit HistoryMortgage Lending on the InternetSelecting the Mortgage ProductNational StandardsNewly Constructed HomesGovernment LoansMaking the Arithmetic EasierEmployment History
 
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