Difference Between Rate and Pricing - $50
Did you know that there is a difference between an interest rate on a loan and the pricing on a loan? Knowing how pricing affects rate, and how rate affects pricing, is explained here. Understanding how these numbers affect one another can save you thousands of dollars.
Locking an Interest Rate vs. Floating the Rate - $50
When it comes time to lock in your interest rate, what day you have the rate locked can make a difference in the rate that you are offered. Learn how to watch the market when you are in the escrow process so that your loan officer and you can work together to determine if you should lock a rate now, or if you should float the rate. Locking at the right time can either save you tens of thousands of dollars over the life of the loan, or can cost you if you don't lock at the right time.
Rate Lock Pricing (days) and Extension Requests - $50
How many days you lock (guarantee) your interest rate will determine the pricing on that rate. How to determine how long you should lock the rate for, and what happens if you need to extend the rate lock. Knowing this information can save you or costs you tens of thousands of dollars over the life of the loan.
Par Pricing and Lender Credit - $50
Did you know that when a lender locks your interest rate, it's possible that there are some dollars that you are entitled to ask for and that the lender can legally keep for themselves if you don't ask for it? Learn what to ask for and how to determine if you are entitled to closing cost credit. This can save hundreds or even thousands of dollars.
Soft Credit Inquiry vs. Hard Credit Pull - $25
A hard credit pull most likely will impact your credit scores by a few points, which could make the difference in dropping your scores below a loan pricing adjuster and cost you more money via a higher interest rate. A soft credit inquiry has no impact on your credit scores. Learn the difference here so that you will know if you can do anything to get your credit scores as high as possible.
Loan Level Pricing Adjusters - $25
On every home loan, there are loan level pricing adjusters (LLPA's). Learn here what LLPA's are, why they matter, and understand how to minimize the LLPA's on your loan in order to get the lowest interest rate possible. Could save you tens of thousands of dollars over the life of the loan.
“What If” Credit Score Simulator - $50
If your credit score is not optimal and you'd like to get your score as high as possible in order to get the best interest rate possible, did you know that your lender most likely can do a "What If" credit score simulation? This information tells the lender what you might need to do in order to boost your credit scores by the amount of points needed to bet the best rate. The best part? There is a secret in this process which can literally save you thousands of dollars.
Conditional Loan Approval - $100
Did you know there are five stages of what is considered "credit approval"? Only one of these stages are a guarantee. Learn about these five stages, and how being able to obtain a conditional loan approval has saved my clients tens of thousands of dollars up front in the purchase price of the home.
Fee Relief for Minorities - $25
Controversial and inequitable, in my opinion, but a sign of the times. Classified minorities may be entitled to some fee relief, which can save hundreds of dollars in closing costs. Learn what to ask for to determine if this applies to you.
Difference between CBD and Cannabis Income - $25
Did you know that CBD and cannabis driven income are two completely different things. One of them you cannot get a loan and the other one you can, if … Find out how.
Free Housing! - $100
When purchasing a home, money can be tight. Moving costs can be much higher than you anticipated. However, there is a way that you may be able to live both rent free and mortgage free for anywhere from two weeks to 60 days. This can save thousands of dollars in monthly housing expense. Learn how this can be done. Rent back credit - 60 days
Skipping Up to 2 Mortgage Payments - $25
A slick marketing strategy that some lenders advertise to confuse borrowers into thinking they don't have to make a mortgage payment or two. Here is what is really meant by this strategy, and how to not have to make a mortgage payment for up to two months.
Auto Loan vs. Lease - $25
There is a difference in computing your debt-to-income ratios if you have an auto loan vs. an auto lease. This can make the difference between qualifying or not qualifying for the amount of home loan that you are requesting. There is another secret here that most lenders do not know or misunderstand. Find out the facts here. It can make the difference in whether or not you get the home that you desire.
Pay Discount Points - $50
Did you know that just about every person on just about every home loan can pay discount points in order to obtain a lower interest rate? Learn here how not to just accept a rate that is offered by your lender, but to analyze your rate buydown options and how to determine the ROI on the rate buydown to determine if it makes sense. Could clearly save you tens of thousands of dollars over the life of the loan.
Paying Mortgage Insurance - $50
If you are making a down payment of less than 20%, financing 80% or more of the purchase price of your home, then mortgage insurance is required. Or, is it? Learn about a possible option of paying mortgage insurance, and how to compare the numbers to determine the lowest cost to you.
Settlement Fees - $50
There are fees involved in every loan transaction. Nobody works for free. How to shop your settlement fees and different ways to pay those fees.
The Notary - $25
A notary is required to finalize your loan journey. What is a notary, why are they necessary, and how you can potentially save $200-$300 at this stage.
Shopping Lenders? The 10 things You Need to Know - $50
Some people insist on shopping around mortgage lenders to compare interest rates. While there are several variables which will influence your experience, these are the 10 things you need to know to share with any lender who can then in turn quote you an interest rate.
First Time Home Buyer Programs - $25
First time home buyer programs are available with most lenders in most marketplaces. However, are they the best thing for you? What do they typically offer, and how to compare them with other non-first time home buyer programs.
Seller Negotiation - $100
Is the home seller willing to negotiate on their asking price? If so, this one strategy can save you tens of thousands of dollars MORE than what you'd get with a simple price negotiation.
How to Make a Non-Conforming Loan a Conforming Transaction - $50
Conforming loans typically have the most favorable terms available. However, the loan amount you need may be higher than the maximum conforming loan amount in your area. Here is a strategy to obtain the higher loan amount that you need, while maintaining the conforming loan amount threshold.
Got Student Loans? - $100
I've worked with several people who wanted to purchase a home, but were told they could not by several lenders because of the amount of student loans that they have. Whenever we did this one thing, I got them qualified for financing and they are home owners today. Try this strategy, and you may be a homeowner too!
Can't Qualify Because of Debt? - $50
Sometimes qualifying for a home loan is not an option because of the amount of debt you are carrying. If you have money for down payment, use this strategy to possibly qualify for your desired loan amount
How Lenders are Paid - $100
It's easy to tell how much a real estate agent is being paid on a transaction, because the brokerage commission is listed on the sales agreement. But did you ever wonder how much the lender is being paid, and how this knowledge can possibly save you thousands, if not tens of thousands of dollars over the life of the loan? Learn how lenders are paid, and how knowing this information can be to your advantage
Choosing a Lender - $50
You need a loan. You have to choose SOMEONE to work with. So how do you choose? These tips will guide you through how to choose a lender, and how to do some reconnaissance on your own to find out if they are any good.
Tips to Boost Your Credit Score - $100
Bottom line, when it comes to a home mortgage loan, your credit score will dictate two things: whether or not you qualify for a home loan and what interest rate you will receive. The higher the score, the better the rate. What can you do to get your scores to the highest level possible, and learn how to get a score if you have no credit and no score.
Your Loan is Sold - $25
Chances are, your home loan will be sold once it has funded. This means the bank or lender that funded your loan will change hands to another bank or loan servicer. Did you know that this is an area that is subject to fraud, which can result in you sending your monthly payments to a shell company? Learn how to tell if your loan has rightly been sold, and the two things which MUST take place in order to prove it's legitimate.
The Truth About Reverse Mortgages - $50
Are reverse mortgages any good? It depends. They are wonderful for some circumstances and not so great for others. Here are several insights that can help you determine if a reverse mortgage is the right fit for you or for a loved one who is considering one.
Mail Box Solicitations Once Your Loan Funds - $25
When your loan has funded and recorded with your county recorder, you will begin receiving solicitations in the mail from people that seem to be current loan servicer. However, most of them are not. What to look for when determining which mail is legit and which is not. This could save you thousands in payments to unnecessary solicitors.
Appraisals Waivers - $25
When getting a home loan, your lender will typically require you to have an appraisal on the property. An appraisal will cost hundreds of dollars, if not a couple thousand depending on the home value. However, did you know that you can get an appraisal waived so that you don't have to pay for it? Learn how here.
Reduce Payment Through Loan Recast - $25
So you have a good loan with really good terms that you have been paying on for awhile. You have reduced the balance significantly either through regular payments over time, or you have come into some money and you'd like to make a large payment do pay down the principal. Learn how you can change your required monthly payment without having to refinance with the lower loan amount. This could save you hundreds of dollars in mortgage payments each month.
How to Get an Easy Loan - $25
There are certain clients who can qualify for a home loan without needing and appraisal, paystubs, W2's, bank statements or tax returns. Want to know how to get a loan with just a driver's license? Here's how.
Using Cash on a Home Loan - $25
Typically cash at home is not allowed on a home loan transaction, due to the Patriot Act of 2001. Got cash? Want to use it? Here's how to get 'er done!