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TRID Training

MortgageDepot is committed to providing its customers with the highest level of customer service from the initial phone call until the loan closes and beyond, and we also want to set up a loan for you that is affordable for your budget and that meets all...

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TRID POLICY EFFECTIVE 10/3/15

Our wholesale lenders will be issuing the Loan Estimate on behalf of all mortgage brokers.  In order to facilitate this, we MUST submit our entire loan submission by 5 PM the first business day following the date of application.  Our loan submission must include all...

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Should I Be Preapproved Before Home Shopping

We strive to maximize the chance that each of our clients will be able to buy the home of their dreams. That’s why we recommend that before going home shopping, you take time to get pre-approved for a loan. Three Reasons Why You Should Get Pre-Approved 1. Identify...

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No Overlays in Underwriting

If you have been looking for the right financing for your home buying or refinancing plans and have recently been told that you do not qualify for a conventional loan program, the reason may be due to overlays. Residential loan programs from Fannie Mae,...

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5% Down All Gifts Funds Allowed

Many people who are interested in buying new property are unable to do so because of the strict down payment requirements that many loan programs have. Instead of moving forward with the plans they have to purchase real estate, they must wait while they save up more...

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Credit Score Tips

When you apply for a home mortgage, your credit scores will be one of the most significant factors that will influence the interest rate and loan terms that you receive. Your scores can also have a direct impact on whether you are approved for your...

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Condo Limited Review – 90% LTV

A condo can provide you with an affordable, convenient housing option, but financing a condo can seem challenging. You may have your eye on a new condo you would like to purchase, or you may be interested in refinancing a property that you already own....

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Financing Updates

Whether you are thinking about applying for a new mortgage to purchase a home or you have plans to refinance your home, you may be wondering if Fannie Mae loans are right for you. These are a unique type of financing option that is known for having competitive...

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HomeStyle Renovation Loans

Renovation loans expand a consumers power to own a home that best suits their ideas at an affordable price. • Allows a borrower to obtain a more favorably priced property in a prime location. • Widens the borrower's options by allowing the borrower to...

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What Real Estate Agents Need to Know

October 3rd, 2015 the CFPB is implementing the new TRID disclosure which technically eliminates the Good Faith Estimate and the HUD1. This is good news for the mortgage broker community because the lender paid compensation will not be disclosed on the HUD1 because...

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To Be Determined (TBD) Pre-Approval

Get Pre-Approved while you shop for a new home. Our wholesale lenders will allow us to issue a mortgage commitment subject to a contract of sale and appraisal on the property in question. This is good news for those buyers that want to know for sure that...

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