Practical Mortgage Loan Processes

How to process mortgage loan, How to strengthen your loan application, How to qualify for mortgage loan, etc

What you’ll learn
Learn mortgage loan process
How to qualify for a mortgage
Learn how to strengthen your mortgage loan application
Learn mortgage default and foreclosure
Reasons a lender may reject your mortgage application
Learn what happen if you lose your job during the mortgage process
Learn about mortgage demand
Understand mortgage terminologies
Learn mortgage term
Understand mortgage payment
Requirements
No Requirement
Description
For many people owning a home is a very big dream of everybody, but it does not come easily because the cost involved is too huge and only few people can save to pay the money and buy their home, because of that they go in for a mortgage to aid them buy the home and pay it over a long period of time and that loan is called mortgage. Mortgage is a very special type of loan you can use to buy a home or refinance a home. We all must understand that mortgage loan companies expect that the customers will have to pay a minimum down payment before they will be allowed to assess the loan to buy their required home base on the money given. There are some investors who can pay upfront for the home but they will still prefer mortgage so that they can pay it for a long time and have their own money being used for other investment. We must know this in principle that you cannot get mortgage loan when you do not have a stable income, meaning you need a good job before a mortgage can be given to you. You will be assess based on debt to income ratio. In the United State OF America, a government backed mortgage most of the times have a very low interest rate and the qualification mark is also very low than others.The process you will go through before getting the mortgage is not ease, you have to get a good credit score and be out of debt, if you are paying many debts it will be very difficult for any serious company to give you mortgage, in that case you need to ensure that you do not borrow too much and spend money when need be. Lets understand in detail that not until you have completed paying off the mortgage loan the home does not belong to you, so be careful and plan your personal finances very well to ensure that you consistently pay or you mortgage money.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 What is mortgage

Lecture 3 Types of mortgage

Lecture 4 Mortgage terminology

Lecture 5 Mortgage term

Lecture 6 Mortgage payment

Section 2: Mortgage Loan Process

Lecture 7 Mortgage pre – approval

Lecture 8 Housing shopping

Lecture 0 Mortgage loan application

Lecture 9 Loan processing

Lecture 10 Underwriting

Lecture 11 Closing

Section 3: How To Qualify For A mortgage

Lecture 12 Income

Lecture 13 Property type

Lecture 14 Assets

Lecture 15 Credit score

Lecture 16 Debt to income ratio

Section 4: How To Strengthen Your Mortgage Loan Application

Lecture 17 Improve your credit

Lecture 18 Lower your debt to income ratio

Lecture 19 Save for a bigger down payment

Lecture 20 Explore government – backed loans

Section 5: How To Pay Off Your Mortgage Loan Faster

Lecture 21 Make biweekly payments

Lecture 22 Budget for an extra payment each year

Lecture 23 Recast your mortgage / refinance your mortgage

Lecture 24 Select a flexible -term mortgage / consider an adjustable rate mortgage

Section 6: Mortgage Default And Foreclosure

Lecture 25 Mortgage default

Lecture 26 Negotiated remedies to mortgage default

Lecture 27 Mortgage foreclosure

Lecture 28 Defenses to mortgage foreclosure

Section 7: Reasons A Lender May Reject Your Mortgage Application

Lecture 29 Reasons a lender may reject your application

Lecture 30 steps to take to avoid your mortgage application denied again

Section 8: What Happen If You Lose Your Job During The Mortgage Application Process

Lecture 31 Pause your application / Secure a new job

Lecture 32 Reduce your loan amount

Lecture 33 What happens if you cancel your mortgage loan application

Section 9: Mortgage Demand

Lecture 34 Overview of mortgage demand

Loan applicants, real estate companies, real estate consultant, underwriters, loan processors, Mortgage associations, house owners, banks, mortgage lenders, government agencies, property agents, managers, directors, everybody etc