Pre
The standard amount of living expenses.
What is 3-6 months of living expenses?
Individual that guides the homebuyer through the process and is available as a resource after closing.
What is a housing counselor?
Golden Ticket into seeing homes and making offers
What is a pre-approval?
This type of mortgage allows for lower credit scores and down payment requirements and higher debt to income ratio,.
What is an FHA loan.
Bonus points if you know what FHA stands for
The ideal amount of living expenses
What is one year?
Individual that analyzes the loan application, borrower information, property information, and determines risk for the lender
What is an underwriter?
What lenders look for regarding income
What is, stable and sufficient income. Also will accept what is 2-years of steady income.
Type of loan for veterans and active duty memebers
What is a VA Loan.
Document received after meeting with a loan officer that the client brings to the real estate agent to begin shopping.
What is a pre approval?
Individual that makes the homebuyer aware of any safety or structural hazards.
Who is the home inspector?
The biggest factor of your credit score
What is payment history?
This type of loan meets Fannie Mae and Freddie Mac guidelines.
What is a Conventional Loan?
Something you should never do when preparing to apply for a mortgage
What is co-sign or take out another loan?
Individual that estimates the property's fair market value.
Who is the appraiser?
What is, contact my housing counselor?
Can be a sign of predatory lending.
What is Limited time offers, Balloon payments, prepayment penalties, excessive loan amounts, false or hidden disclosures.
4- C's of credit
What is: Capital
Capacity
Character
Collateral
Government official responsible for determining the value of a property for tax purposes.
Whos is the assessor?
First two things you should do upon discovering potential identity theft.
What is file a police report and initiate a fraud alert with credit bureaus.
Best way to protect yourself from identity theft.
What is safeguard personal information. (SSN, Account numbers, and identification numbers.