LEND & LEARN
What is the waiting period requirement for foreclosure when trying to purchase a home using FHA?
3 YEARS FROM THE SALE DATE OF THE PROPERTY.
What is the maximum Debt to Income Ratio used for Qualifying for an IHDA loan?
45%
On Monday's how many outgoing prospecting calls should be made?
30
What is one of the two, biggest liabilities that impact "AA" Buyer's from purchasing a home?
Student Loans and/or Auto Loans
How many children does Scott have?
2 (Twins)
What is the waiting period requirement for Chapter 7 when trying to purchase a home using Conventional Financing?
4 years from Discharge or Dismissal Date
What is the minimum credit score requirement for IHDA DPA?
640
What day of the week do you update your under contract Buyer's and Seller's?
Tuesday
Name "1" of the "3" things that prevent "AA" Buyer's from purchasing a home?
- Credit
- Down Payment
- DTI
How many children does Cecelia have?
1
Can a borrower purchase a home if they are in a Chapter 13 Bankruptcy that is open?
YES
How much should the borrower pay to receive their Home Buying Certificate?
$0
How many Happy Hours should you put on?
At least one per month
What expense do many "AA" Buyer's have, not including Student Loans, that prohibits them from purchasing?
Auto Loan
How many children does Pam have?
3
What is the maximum credit a Seller can give on an FHA loan?
6% of the Purchase Price
Where can Tax Smart Mortgage Credit Certificate be used?
Only in the City of Chicago
How many calls per week should you make to Past Clients?
12
As of 2020, what was the percentage of "AA" Buyer's that owned their own home?
44%
What Professional Sport did Eric "EJ" play?
Football
What is the minimum Down Payment required for Conventional Loans?
3% of the Purchase Price
What does Tax Smart do for Buyer's?
Gives Buyer's a credit that is received for the life of the loan on their real estate taxes, when they file their taxes annually.
What month of the year, should you begin working on your Business Plan for the next year?
October
What can we do to continue helping to increase "AA" Home ownership rates?
Educate, Educate, Educate
What business was Rico in prior to Title Insurance?
Event Planning