Identity Crisis
Can a client with B-1 visa purchase a home using a mortgage?
What is no
Can a borrower use gift funds for downpayment or closing costs for an investment home?
What is no.
What percent of the agent rebate can be applied to down payments?
What is 0
What is the scenario for someone to purchase a second home on the same street as their primary home
What is no.
The spouse of the borrower doesn't qualify for the loan. Can she still be on title?
What is yes
A lead has an ITIN number and they are able to do business in the US, but they do not have a SS number. What is the process to lend on that?
Flyhomes Mortgage cannot do an ITIN loan
How many most recent monthly statements do we need for asset?
What is 2
What is the minimum HOI coverage for a SFR?
What is the lower of the loan amount or Replacement cost Estimate
(Need to change) What is the average reduction in sales price when our clients use a cash offer in a non-competitive market?
What is 3%
Which Underwriter is working during weekends?
Who is Harish Perimi?
If a US Citizen borrower's Drivers License is expired, what other form of ID can they use
What is a passport!
Can a borrower buy down their rate after locking the T2 with the refund of the FFA origination fee?
What is yes
What is the lending criteria for a Seasonal Property That is Only Accessible when the County Road is Open
We cannot lend on a property that doesn't have year round accessibility
The timeline given for mortgage related credit pulls is known as the ____ ____ Window
What is rate shopping.
When a lead comes in, who is assigning them to loan officers?
What is Gops
Document needed if the client has an expired Permeant Resident Card (Green Card)
What is I-551 Stamp
If a client links their bank account with Blend, how many days of recent bank statements must they upload?
What is 0
Two examples of documents that would work for "occupancy docs" + what specific item is needed on the doc
What is utility bill, change of address form or bank statement?
What is the max LTV allowed for a first time home buyer for a conventional conforming loan?
what is 97%
Name 5 FAs
Who is ...
Document needed if the client is purchasing a home with expired H-1B visa for a conforming loan?
What is I-797A or I-797C
What is considered a large deposit for a Fannie loan?
What is deposits over 50% of qualifying household income
Can you purchase a duplex as a primary residence if you're going to rent out one of the units?
Can you use the proposed rental income to as qualifying income?
What is yes.
What is yes.
When can you request Mortgage Insurance from FHA loans to be dropped off?
When can you request Private mortgage insurance from a conventional loan to be dropped off?
What is never.
What is 80%.
Who can change the Est. Closing Date once the loan is CTC'd?
What is Closing Team