Loan Disclosures

● Graham W. Parham ● November 5, 2013 ● Loan Process ● No Comments

Loan Package Disclosures When moving forward with a mortgage home loan a loan package will be sent to formally start the process. The loan disclosures need to be reviewed, signed, and returned as soon as possible. Without these signed disclosures […]

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Loan Process

● Graham W. Parham ● November 5, 2013 ● Loan Process ● No Comments

Loan Process Overview The following is an overview of the home loan process when purchasing a home. The process begins once the loan details (such as program, rate, costs, etc.) have been finalized and a contract has been executed […]

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VA Loan Program

● Graham W. Parham ● November 5, 2013 ● Government Loans Programs ● No Comments

A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs (VA). The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to eligible American […]

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Fixed Rate Loans

● Graham W. Parham ● November 5, 2013 ● Conventional Products ● No Comments

Fixed-rate mortgages remain the most popular type of home financing. A fixed-rate mortgage is a good option for nearly every type of borrower, whether you plan to stay in the house for the long term or just for a few […]

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Mortgage Closing Costs

● Graham W. Parham ● November 4, 2013 ● Closing Mortgage 101 ● No Comments

Mortgage Closing Costs There are three components that make up the funds due at closing: the down payment, the mortgage closing costs, and the prepaids. Regardless of what lender you choose or what program you choose, these costs will exist. […]

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What is the Purpose of a Property Appraisal?

● Graham W. Parham ● November 4, 2013 ● Appraisal and Inspections ● No Comments

A home appraisal is generally required by the lender in order to establish that the value of the home will be sufficient collateral for the amount of the loan. The appraisal fee is generally paid by the buyer, sometimes required […]

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Debt-to-Income Ratio

● Graham W. Parham ● November 4, 2013 ● Qualifying for a Loan ● No Comments

When you apply for a mortgage, your lender will analyze your debt ratios, which are also known as your debt-to-income ratios, or DTI. Lenders calculate DTIs to ensure you have enough income to comfortably pay for a new mortgage while […]

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