Loans and Mortgages: Frequently Asked Questions

All Buyers are encouraged to “shop around” before committing to a

 Bank, Mortgage Company, Mortgage Broker, Savings and Loan, Credit Union, or other loan source!

 

LOANS and MORTGAGES :  Frequently Asked Questions

Click on each blue link below for a printable PDF form which is courtesy of our clients’ NUMBER ONE RATED Mortgage Broker:  President of Rate One Mortgage, Dawn Davis.  (Why have the clients who used her given her superior ratings in all areas?  Because she ONLY works with Exclusive Buyer Agent Clients all over the U.S., she knows that EBA clients are trying to save money in every area of the home purchase, she charges NO JUNK FEES, her rates are ALWAYS competitive, and we have NEVER had a late closing, when the clients used her services.   AND no one ever showed up at closing and found that they were misled or outright lied to with regard to their Good Faith Estimate!

BUT AGAIN WE STRESS THAT YOUR FINAL MORTGAGE CHOICE IS YOURS  & YOURS ALONE! 

 

CREDIT: How to Improve Your Credit (5 Tips)                   DISCOUNT POINTS:

How to Buy Down Your Mortgage

 

Mortgage BROKERS & Mortgage LENDERS

 

Mortgage INTEREST RATES                                       TEMPORARY BUYDOWNS

 

HOW to MORTGAGE SHOP: Part 1

HOW to MORTGAGE SHOP: Part 2                            ARMS Index Margins and CAPS

HOW to MORTGAGE SHOP: Part 3                            LOW DOWPAYMENT Mortgages

HOW to MORTGAGE SHOP: Part 4

HOW to MORTGAGE SHOP: Part 5

PMI:  5 Common Myths

                                                                                                     

 PMI:  Cancellation of  PMI

FAQ about GFE (Good Faith Estimate)

                                                                                            HELOCS and HELOANS

MORTGAGE APPLICATION DOCs

                                                                                             INTEREST ONLY Loans

SELF INSURANCE                                                               

                                                                                               TITLE INSURANCE

Interest RATE LOCKS

                                                (and very important:  click below!)

                  WILL YOU RECEIVE THE SAME LOAN YOU WERE QUOTED?

                                                                                               

                        RESPA: Consumer Protections and Prohibitions: An Introduction

 

                         RESPA ILLEGAL REFERRAL FEES

 

RESPA Required Disclosures at the Time of  APPLICATION

 

Required Disclosures BEFORE, During, and After Settlement

 

RESPA Enforcement Settlement

 

NOTE: DISCLOSURE:  A Buyer’s Best Choice Realty® is not related to nor has any personal relationship with, ownership in, or receive any remuneration, referral fee or gifts from ANY mortgage company, bank, or other service provider, including home inspectors, radon testers, etc. If a home warranty is not offered by a seller, and if the Buyer wants a Home Warranty policy, we can write a Home Warranty, but we rebate the portion of the Home Warranty fee, that the Insurance Company pays any Realtor who writes the warranty, to the Buyer!

 

We also highly recommend the paperback book, Mortgage Confidential , by ‘Mortgage Guru’ author  David Reed, and highly touted by Bob Bruss in Inman News,  Bob is quoted here as saying:

“The only people who should read "Mortgage Confidential" by mortgage broker David Reed are home buyers who want to avoid unnecessary mortgage fees, homeowners who want to refinance and save money, and real estate agents looking out for the best interests of their buyers. All others should avoid reading this superb new book because you will be shocked by what goes on in the home-loan industry.  The author must need 24-hour security guards because he reveals the dirty tricks some mortgage lenders use to secretly increase their profits at the expense of borrowers.” Robert Bruss

 

Most good Bookstores carry this paperback, but can easily order it if not.  And you can go on-line and order a used copy from your favorite book site.  It is one book you will probably keep in your library.  (We formerly kept this book in our library for clients to check out, but no one wanted to return it!

 

               For a direct link to this INMAN NEWS article, Jan. 2, 2007  click here)