by firstamericantitlenapa | Nov 16, 2017 | Mortgages:
Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this video shows – you have a house worth $300,000 today and you owe the bank $200,000....
by firstamericantitlenapa | Nov 16, 2017 | Title and Closing
Like the video says – real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent represents the sellers and another represents the buyers the commission is typically...
by firstamericantitlenapa | Nov 16, 2017 | Mortgages:
The Prime Lending Rate – sometimes just called “Prime” – is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime. In the US, Prime is affected by the Federal...
by firstamericantitlenapa | Nov 16, 2017 | Financing:
You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you’ll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years....
by firstamericantitlenapa | Nov 16, 2017 | Mortgages:
Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount. Generally, for each point paid on a 30-year mortgage...
