Скачать или смотреть The Davis Team: House Market Update

Considering buying a home? Where do you start? How do you apply, where do you apply? Do you qualify for a loan and for how much do you qualify? Supporting loan docs? What do you need when applying for a home loan? Can you get a mortgage with less than perfect credit? Do you have to have 20% down?

Initial home buying prep steps:
✅ Gather the necessary documentation that we discussed in this video:
   • The Davis Team: How to start the home loan...  
✅ Call or visit your lender of choice (after vetting them) to start the approval process
VA/FHA and conventional general home loan 2021 requirements:
✅ FICO® score at least 580 = 3.5% down payment. FHA
✅ VA is much more lenient on credit and debt to income with ZERO down pmt
✅ Conventional loans are a little more restrictive with 3-5% down pmt
✅ FICO® score between 500 and 579 = 10% down payment FHA
✅ MIP (Mortgage Insurance Premium) is required and added into loan-VA has none
✅ Conventional loans can have no mortgage insurance and still have 3-5% down
✅ Rule of thumb debt-to-Income Ratios: 55% FHA-49.99 conventional-Case by case with VA
✅ The home must be the borrower's primary residence for VA and FHA
✅ Borrower must have steady income and proof of employment.

🔻 Videos you may find helpful! 🔻
FHA Loan 2021 Requirements:
   • The Davis Team: FHA Loan 2021 Requirements  
Mortgage Lingo:
   • The Davis Team: Mortgage Lingo?  
How to start the home loan process:
   • The Davis Team: How to start the home loan...  
Take Time for Yourself:
   • The Davis Team: Take Time for Yourself  
Buying a home with student loans:
   • The Davis Team: Have student loans? Want t...  

Buying a home, or thinking about it? How is it going? What struggles are you coming across? When writing an offer to purchase a home, what separates your offer? Please comment below and let us know!
Comment and let us know what your predictions are for the housing market to end the year and into next year.
Do you believe a housing market crash or real estate bubble is coming? Why or why not?

🔻 Connect with me! 🔻
Scott Davis with the Davis Team and CrossCountry Mortgage
https://DavisTeam.com
703-209-3138
[email protected]
NMLS #166596, CCM NMLS #3029
📷 Instagram:
  / thedavisteam_mortgage  
🟦 Facebook:
  / davisteammortgage  
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Other videos you might find helpful:
WOW Wednesday Playlist:
   • WOW Wednesday  

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