Скачать или смотреть Todd Gehrke on Understanding the Mortgage Qualification Process

Qualifying for a mortgage can be broken down into three simple things. Loan to Value, Debt to Income, and Credit. In this short video Todd Gehrke, author of The Borrower's Bible- and Coach Will- explains these three points in a very simple manner.

Todd Gehrke: [00:00:11] Here's an easy way. To explain to a borrower kind of how the credit and mortgage process works so people think they get mortgages on houses but they don't. They get their mortgage on their ability to repay the loan. So there's basically three boxes. First one is do you have a history of paying people back that you borrowed money from. That's credit. We check that box. Second is do you have the ability to pay this loan back. So we look at the income that people make versus the debts that they have to determine that ability and then third and last is if the first two the wheels fall off is what's the collateral that we can put on the loan. And then is when the House comes in. So it's an easy way to explain to borrowers when they're trying to figure out. Yeah but I got two hundred and fifty thousand dollars in equity in this house. Why won't you lend me the money. It's because you have to get through boxes one and two first. So think about that. It kind of throws people off but it works really well when you say you know people think they get a mortgage on a house but they don't. They get a mortgage on their ability to repay the loan. And here's how that works. So try that. This seems to be an aha moment for a lot of people where they go okay I got it. That makes sense and that's our ultimate goal is to simplify this process.

#toddgehrke #yestodd #affluentology #realestatehacks #realestatenvesting101 #investinginrealestate #richdadpoordad #howtomakemoneyfromhome #howtomakemoney #passiveincome #realestateagent #howtomakemoneyinrealestate #passiveincomeideas #investinginrealestatewithlittlemoney #passiveincome2019 #passiveincomeideas2019 #realestateinvestor #realestateinvestingwithnomoney #realestateinvestingstrategies #top5passiveincomeideas2019 License info here: www.newamericanfunding.com/licensing.aspx Todd Gehrke, Sales Manager, New American Funding NMLS6606