What Is Prime? The Prime Lending Rate – sometimes just called “Prime” – is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime.
Who Is Exempt From The VA Funding Fee?
Who is NOT required to pay the VA funding fee? This video could save some veterans thousands. VA loan applicants pay a funding fee – as of 2014, 2.15% of the total loan amount – which can be thousands of dollars. Some veterans and spouses are eligible for exemption.
Video: What Steps Need To Be Taken To Secure A Loan
What Steps Need To Be Taken To Secure A Loan
You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application.
To do so, you’ll need the following information.
Video: Are There Special Mortgages For First-Time Homebuyers?
Video: Are There Special Mortgages For First-Time Homebuyers?
Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage
For those who are looking to buy a home soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. A low DTI may make it easier for the lender and the underwriter to justify making a loan to the borrower.
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