HOME OWNERSHIP QUESTIONS & ANSWERS SESSION PRESENTED BY ____ YOUR COMPANY NAME HERE ___ Equal Housing Opportunity © Silver State Trainers Inc 2008

HOME OWNERSHIP

QUESTIONS & ANSWERS

SESSION

PRESENTED BY

____ YOUR COMPANY NAME HERE ___

Equal Housing Opportunity © Silver State Trainers Inc 2008

Session Overview Today we will cover The Mortgage Cycle Steps to obtain a mortgage loan General Credit Requirements One of the key factors in making a credit decision Your rights as a consumer Review Consumer Protection laws Current Specialty Loan Programs What are the loan programs available today

Today we will cover

The Mortgage Cycle

Steps to obtain a mortgage loan

General Credit Requirements

One of the key factors in making a credit decision

Your rights as a consumer

Review Consumer Protection laws

Current Specialty Loan Programs

What are the loan programs available today

Session Overview Today we will attempt Answer your Questions to best of our ability We will open for Q&A after every section Representatives available for private questions after the session or by appointment We are not attorneys, so cannot offer any legal advice. If we do not know the answer, we will do our best to get you the answer

Today we will attempt

Answer your Questions to best of our ability

We will open for Q&A after every section

Representatives available for private questions after the session or by appointment

We are not attorneys, so cannot offer any legal advice.

If we do not know the answer, we will do our best to get you the answer

The Mortgage Cycle Submit the information needed for full loan approval to the loan originator Meet the conditions of the loan process – info needed to submit to underwriting Meet the conditions of the underwriter – additional info needed to close the loan Set closing date and time with escrow officer or closing agent

Submit the information needed for full loan approval to the loan originator

Meet the conditions of the loan process – info needed to submit to underwriting

Meet the conditions of the underwriter – additional info needed to close the loan

Set closing date and time with escrow officer or closing agent

QUESTIONS & ANSWER TIME There is no such thing as a stupid question Our mortgage professionals are here to help you Private consultations are available JUST ASK!

There is no such thing as a stupid question

Our mortgage professionals are here to help you

Private consultations are available

JUST ASK!

Credit Requirements Credit is one of the key areas reviewed in the approval process 3 “C”s analyzed: - Capacity – income & assets - Collateral - property - Character - Credit

Credit is one of the key areas reviewed in the approval process

3 “C”s analyzed:

- Capacity – income & assets

- Collateral - property

- Character - Credit

Credit Requirements If for some reason you are not able to meet the loan requirements today, your loan originator will inform you what it may take for you to meet the requirements in the future. You need to know where you stand in the lender’s eyes.

If for some reason you are not able to meet the loan requirements today, your loan originator will inform you what it may take for you to meet the requirements in the future.

You need to know where you stand in the lender’s eyes.

Your Rights as a Consumer The Federal Trade Commission or HUD oversee most consumer protection legislation. There are laws to protect the consumers rights. FACT ACT of 2003 Gramm Leach Bliley Act 1999

The Federal Trade Commission or HUD oversee most consumer protection legislation.

There are laws to protect the consumers rights.

FACT ACT of 2003

Gramm Leach Bliley Act 1999

QUESTIONS & ANSWER TIME There is no such thing as a stupid question Our mortgage professionals are here to help you JUST ASK!

There is no such thing as a stupid question

Our mortgage professionals are here to help you

JUST ASK!

Special Loan Programs FHA Loan Programs Government loans are designed to meet first time homebuyer needs for home financing. More lenient with debt ratios More lenient with cash to close requirements New Program – FHA Secure – designed for refinancing homeowners with non-FHA adjustable rate loans whether current or delinquent

FHA Loan Programs

Government loans are designed to meet first time homebuyer needs for home financing.

More lenient with debt ratios

More lenient with cash to close requirements

New Program – FHA Secure – designed for refinancing homeowners with non-FHA adjustable rate loans whether current or delinquent

THANK YOU FOR ATTENDING! We appreciate your attending our session. If you’d like a private appointment to discuss your situation, please approach one of our loan originators now or pick up a business card to make an appointment later. Remember, we are here to assist you in meeting your home financing needs. Please complete the survey at the end of your workbook, and leave it where you are sitting. We appreciate your input.

We appreciate your attending our session.

If you’d like a private appointment to discuss your situation, please approach one of our loan originators now or pick up a business card to make an appointment later.

Remember, we are here to assist you in meeting your home financing needs.

Please complete the survey at the end of your workbook, and leave it where you are sitting.

We appreciate your input.