How Do I Select A Real Estate Broker?

The following article How Do I Select A Real Estate Broker? is courtesy of

Like the video shows, it’s a good idea to compare several real estate brokers. And ask these questions.

What is your experience in my community and neighborhood?

What type of representation do you offer? Different states have different types. Some brokers represent buyers, some represent sellers some act as neutral parties between both. and in some states, different people at a single firm can handle each side in a transaction.

And of course, what are your terms and fees?

Get the key facts in writing to help you compare your options. Then make the best choice for your situation.




How Does HUD Help Homebuyers And Homeowners?

The blog post How Does HUD Help Homebuyers And Homeowners? was originally published to

HUD helps people by administering a variety of programs that develop and support affordable housing. As you’ll see in the video, HUD plays a large role in homeownership by making loans available for lower- and moderate-income families through its FHA mortgage insurance program and its HUD Homes program.

HUD owns homes in many communities throughout the U.S. and offers them for sale at attractive prices and economical terms.

HUD also seeks to protect consumers through education, Fair Housing Laws, and housing rehabilitation initiatives.



What Is Private Mortgage Insurance (PMI)?

What Is Private Mortgage Insurance (PMI)? is courtesy of Moreira Team Mortgage Blog

[wpsharely]This video tells you about it all. PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that provide mortgage insurance.[/wpsharely] They offer both standard and special affordable programs for home loan borrowers.

These companies provide guidelines to mortgage lenders that detail the types of home mortgage loans they will insure. Home lenders use these guidelines to determine borrower eligibility.

PMI’s usually have stricter qualifying ratios and larger down payment requirements than the FHA but their premiums are often lower and they insure home mortgage loans that exceed the FHA limit.



How Can I Improve My Credit Score?

The blog post How Can I Improve My Credit Score? was first published on Moreira Team Mortgage Georgia

Like the video says, there are no easy ways to improve your credit score but you can work to keep it acceptable by maintaining a good credit history. Remember, the higher your score the better your home mortgage terms.

Pay your bills on time.

Pay down cards and keep monthly debts sustainable.

Limit your overall debt. and check your credit history annually for accuracy and correct any errors.



Best Way To Compare Home Loans Between Mortgage Lenders?

Best Way To Compare Home Loans Between Mortgage Lenders? is republished from Moreira Team Mortgage Georgia

Watch this video and take a few notes on comparing mortgage lenders!

First, devise a checklist for the information from each home lending institution. You should include:

  • the company’s name and basic information
  • the type of mortgage
  • minimum down payment required
  • interest rate and points
  • closing costs
  • loan processing time
  • whether prepayment is allowed

Speak with mortgage brokers by phone or in person. Be sure to call every home mortgage lender on the list the same day as interest rates can fluctuate daily.

In addition to doing your own research your real estate agent may have access to a database of lender and mortgage options or suggest a variety of different lender options.



What Is A Good Faith Estimate And How Does It Help Me?

What Is A Good Faith Estimate And How Does It Help Me? is available on

You’ll see some pictures in this video to help you remember later, but a good faith estimate lists all fees paid before closing all closing costs, and any escrow costs you will encounter when purchasing a home.

The mortgage lender must supply it within three days of your application so that you can make accurate judgments when shopping for a home loan.



What Do I Get At Home Closing?

The article What Do I Get At Home Closing? is available on Moreira Team Mortgage Blog

As we show you in this video:

  • The Settlement Statement, HUD-1 Form, which itemizes services provided and the fees charged; it is filled out by the closing agent and must be given to you at or before closing.
  • A Truth-in-Lending Statement
  • A copy of your Mortgage Note
  • Your Mortgage or Deed of Trust
  • The Binding Sales Contract prepared by the seller; your lawyer should review it

And the keys to your new home!



How Do I Know If I’m Ready To Buy A Home?

How Do I Know If I’m Ready To Buy A Home? was originally published to

As you’ll see in this video, you can find out if you are ready to buy a home by asking yourself some simple questions:

  • Do I have a steady source of income (usually a job)?
  • Have I been employed on a regular basis for the last 2-3 years?
  • Is my current income reliable?
  • Do I have a good record of paying my bills?
  • Do I have few outstanding long-term debts, like car payments?
  • Do I have money saved for a down payment?
  • Do I have the ability to pay a mortgage every month, plus additional costs?

If you can answer “yes” to these questions, you are probably ready to buy your own home.



How Mortgage Lenders Decide Your Maximum Loan Amount?

The blog post How Mortgage Lenders Decide Your Maximum Loan Amount? was first seen on Moreira Team Mortgages

As you’ll see in the video, mortgage lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses.

Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support.

According to the FHA, monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment, combined with non-housing expenses, should total no more than 41% of income.

Home lenders also consider cash available for down payment and closing costs credit history and the rest of your financial picture when determining your maximum loan amount.



How Do I Begin The Process Of Buying A Home?

The article How Do I Begin The Process Of Buying A Home? Find more on:

Remember these pointers from this video on buying a home: start by thinking about your situation.

  • Are you ready to buy a home?
  • How much can you afford in a monthly mortgage payment?
  • How much space do you need?
  • What areas of town do you like?

After you answer these questions, make a “To Do” list and start doing casual research. Talk to friends and family, drive through neighborhoods, and look in the “Homes” section of the newspaper, or online.