Show Me The Money
This agency will give home loans without a down payment.
What is the Veteran's Administration (VA)?
This figure is used in over 95% of credit decisions. It reflects your overall credit worthiness.
What is FICO score
A written instrument in which the buyer pledges real property to the lender as security for a loan.
What is a Mortgage?
Written instrument that transfers ownership of real property.
What is a deed?
This person is an avid camper, owns a 30 foot camper and goes on camping weekends at least once a month.
Who is Michelle Mueller?
A loan that exceeds the conforming limits established by Fannie Mae or Freddie Mac, usually needed on high end properties.
What is a Jumbo loan?
The type of credit pull that will appear on your credit report
What is a hard pull
A mortgage that has a fixed rate of interest for only a set period of time, typically one, three, five or ten years.
What is an Adjustable Rate Mortgage (ARM)
As a child, this person had aspirations of being Vanna White. Give me 6 consonants and 5 vowels, Pat.
Who is Ashley Milam?
The legal process in which people who cannot pay their debt must surrender most of their property.
What is bankruptcy?
This is the biggest contributing factor in credit scoring
What is delinquency or on-time payments
This calculation is done by dividing the amount of the mortgage by the value or price of the home.
What is Loan To Value (LTV)
A mortgage holder owes more than the house is worth - hold your breath, because you're this
What is under water
At the age of 19, this LO was interning as an audio engineer for a multi-platinum R&B group and was able to go on a world tour.
Who is Idris Adams?
This is the cost of borrowing money.
What is interest?
This is the highest credit score you can achieve.
What is 850
Expenses incurred by buyers when purchasing real estate. These costs are in addition to the price of the property and are usually paid at closing.
What are closing costs
Often physically attached to the home, they're items that were once personal property but are now part of the sale
What are fixtures
Growing up, this person was a competative clogger and won several State Championships.
Who is Tammy Dammann?
A process of deciding whether to make a loan based on your credit reputation, income, debt, appraised value of the house and other factors.
What is Underwriting?
This is the 2nd biggest factor in credit scoring.
What is credit utilization
What is Equity?
What is an easement