What Types Of Closing Costs Are Associated With FHA-Insured Loans?
While this video simplifies things to help you remember, except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan.
As of 2013, the FHA requires a single, upfront mortgage insurance premium equal t...
How Can The FHA Assist Me In Buying A Home?
Remember these points from the video:the FHA works to make homeownership a possibility for more Americans. With the FHA, you don't need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down paym...
What Makes Up Closing Costs?
What you’ll see in this video is, there may be closing costs customary or unique to a certain locality but closing costs are usually made up of the following:
Attorney's or escrow fees (Yours and your lender's if applicable)
Property taxes (...
What Is RESPA?
RESPA stands for the Federal Real Estate Settlement Procedures Act. This video tells you about it all.
RESPA requires lenders to disclose information to potential customers throughout the mortgage process. By doing so, it protects borrowers from abuses by lending in...
What Costs or Fees Are Associated With Loan Origination?
Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you'll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal a copy of your credit ...
How Do I Choose The Best Loan Program For Me?
The video puts this in more visual terms, but your personal situation will determine the best kind of loan for you.
By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best.
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