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    Don't Get Scammed When Buying a Home
    Don't Get Scammed When Buying a Home
    Don't Get Scammed When Buying a Home
    Ebook42 pages29 minutes

    Don't Get Scammed When Buying a Home

    By Angelo Christian

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    About this ebook

    Buying a Home can be very intimidating. Don't get ripped off by not knowing. Angelo Christian teaches you what to look out when getting a home loan and what to pay attention to make sure you get the best home loan.

    LanguageEnglish
    PublisherAngelo Christian
    Release dateDec 3, 2016
    ISBN9781540800848
    Don't Get Scammed When Buying a Home

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      Book preview

      Don't Get Scammed When Buying a Home - Angelo Christian

      Ebook by Angelo Christian

      Table Of Contents

      Chapter 1 ~ Real Estate Market

      What is the Procedure to Purchase a Home?

      What Role Does the Realtor Play

      FSBO?

      New Construction or Existing?

      Why Foreclosures?

      What Role Does the Loan Officer Play?

      What Do Title Companies Do?

      Chapter 2 ~ Home Loan Products

      FHA loans

      15 or 30 Year?

      Fixed or ARM?

      Reverse Mortgages

      184 Indian Loans

      VA Loans

      USDA Loans

      Conventional Loans 

      PMI

      First Time Buyer Programs and Grants

      Tax Credits

      Chapter 3 ~ Real Estate Scams to Avoid

      Gimmicks and Scams in the Business

      Lease Purchase with Wrap Program

      Chapter 4 ~ How Lenders Make Money

      Portfolio Loans

      Private Money

      Hard Money

      Chapter 5 ~ Selecting the Right Company to do Business With

      Different Types of Lenders

      Banks

      Credit Unions

      Mortgage Lenders

      Mortgage Brokers

      Loan Servicing

      Lender Default Rate

      Regulatory Accolades

      Agency Approvals

      Chapter 6 ~ The Home Loan Process

      Loan Officer Originates Loan following Methodology-

      Loan Officer Job Duties

      Contract IN

      LOA Job Duties

      Processing Job Duties

      Underwriting

      Closing

      Life After Closing

      Chapter 1 ~ The Real Estate Market

      What is the Procedure to Purchase a Home

      Here is the process you will go through in order to secure a home loan.

      First you will need to complete and a loan application. Your lender can help you fill it out.

      After the application has been prepared, ask your lender for a pre-approval letter. This letter confirms the amount you are approved for to purchase a home.

      Next you loan has to be processed. You will need to submit financial documents to the lender for it to be processed. At this time, the property is also appraised to find the fair market value of the home.

      Now you need to get approval for your loan. The lender will review the application, your financial papers, and make a decision. If you are declined, they can give you recommendations to obtain financing.

      Before closing, your home mortgage consultant will help you secure all required paperwork. This could include title insurance and other real estate documents that protect you against others claiming that the property is theirs.

      A date and time will be set for all papers to be signed, and payments to be made to complete the purchase.

      What Role Does the Realtor Play?

      The role the realtor plays in your purchasing a home depends on

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