How to find the Right Loan & Hire the Right Lender

Buying a home is more complicated than showing up with a suitcase full of money and making a purchase like you are at a supermarket. Very few buyers have that kind of financing on hand. Most will need to seek out other financing means, usually through home loans.

 

But not all loans are equal, and the process, as well as the vocabulary, can be very intimidating and confusing.

Bob Casper of Cross Country Mortgage joins the Real Estate Pro Tips podcast to help shine a light on the home loan process, and hopefully make the process seem less daunting to you, the listener.

After listening to this episode, give Bob a call if you are looking to secure a home loan. You can reach Bob Casper at 925-324-2029.

 

0:52 Opening

2:03 Home Loan vs Mortgage

5:41 Subject To’s

8:56 Reasons People are Denied a Home Loan

14:42 Improving Your Chances of Approval

17:11 Interest Rates and What Influences Them

19:12 Points

24:20 Buying Down Interest Rates

29:26 Rate Locks

34:46 Reasons NOT to Lock in a Rate

35:40 Pre-Approval Letter Conditions

39:56 Structuring a Competitive Offer

43:54 Contningencies and Time Frames

45:58 Eliminating Loan Contingencies

50:34 Conventional, FHA and VA Loans

55:01 Differences Between Loans

58:59 FHA/ VA Loans and Condominium Complexes

1:00:59 Mortgage Insurance

1:04:17 Adjustable Rate Loans

1:05:48 Mortgage Interest Rates & the Bond Market

1:10:41 Looking Ahead at Interest Rates (Crystal Ball Moment)

1:15:09 Loan Refinancing and Home Purchase Loans

1:18:34 Funding for Appraisals

1:21:29 Appraisal Standards in 2020

1:25:18 Underwriting Guidelines

1:28:12 Pros and Cons of Buying Your Next Home Before Selling Your Current One

1:31:43 Covid-19 Pandemic and the Housing Market

1:36:05 Lessons We Can Learn from the Pandemic

1:43:04 Wrap Up

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