College Graduate
Many lenders will use college credits in the borrower's chosen field to determine experience. The graduate will have to provide a copy of the degree earned. Lenders may also request a copy of the borr
http://www.brokeroutpost.com/reference/18804.htm (Updated: 11/25/2007)

Why a Broker instead of the Bank?
The Bottom Line - This isn't the closing costs at the end of the loan, but the total cost of the loan over its lifetime. A broker will have higher closing costs, because it subcontracts services. Th
http://www.brokeroutpost.com/reference/114152.htm (Updated: 09/11/2007)

Loan Approval
Loan Approval means that the borrower meets the lender's qualification requirements and also its underwriting requirements. In some cases, especially where approval is provided quickly as with automat
http://www.brokeroutpost.com/reference/24246.htm (Updated: 06/27/2007)
Related Reference Topics: [qualify, underwriting, verification]

Home Interest Rate
Home interest rates vary from borrower to borrower. Even with the same types of mortgage loans, what rate one person qualifies for does not mean that is what rate another person will qualify for. Home
http://www.brokeroutpost.com/reference/128467.htm (Updated: 06/03/2007)
Related Reference Topics: [mortgage rates, interest rates, best rates]

What Is A Verification Of Employment?
When you are applying for a mortgage, the lender will want to verify that you are employed where you say you are, for as long as you stated, and that you make what you claim.
http://www.brokeroutpost.com/reference/57099.htm (Updated: 05/30/2007)
Related Reference Topics: [voe, verbal, written]

Income Documentation
NINA, also referred to as No Income No Asset, loans are mortgage loans in which No income and No assets are listed on your resdiential home loan application, also called a 1003. There will generally b
http://www.brokeroutpost.com/reference/24127.htm (Updated: 05/28/2007)
Related Reference Topics: [income, nina, sisa, siva, documentation]

Reduced Documention Loans
There are many programs available that are for people who may not qualify for the standard full documentation required by many different lenders. Some of reduced documentation loans compensate for the
http://www.brokeroutpost.com/reference/23618.htm (Updated: 05/26/2007)
Related Reference Topics: [stated, no doc, no verification, no employment, ]

Stated Income Loan
Stated income loan programs are offered on fixed rate mortgages, adjustable rate mortgages, or on negative amortization mortgages. They do not require income verification.
http://www.brokeroutpost.com/reference/11090.htm (Updated: 05/26/2007)

California Mortgage Loans ( CA Mortgage )
There are many mortgage loan programs available in the state of California. Some of the more common loan programs available for refinance or purchase are: - 100% Financing - 80 20 No MI - 115% C
http://www.brokeroutpost.com/reference/71683.htm (Updated: 05/14/2007)

No Income Verification Mortgage Loans
The "no Income Verification" mortgage feature is designed specifically for self-employed, non-salaried or commissioned borrowers as well as salaried borrowers. This feature eliminates the need to veri
http://www.brokeroutpost.com/reference/123626.htm (Updated: 05/12/2007)
Related Reference Topics: [no income mortgage, no doc mortgage, nica]

New York Mortgage Loans ( NY Mortgage )
There are many mortgage loan programs available in the state of New York. Some of the more common loan programs available for refinance or purchase are: - 100% Financing - 80 20 No MI - 115% Cas
http://www.brokeroutpost.com/reference/71695.htm (Updated: 04/13/2007)

Mortgage Myths
There are a lot of myths and superstitions surrounding the world of property finance. 1) "My neighbor got 6.25% a month ago when he refinanced. I should be able to get it as well." Wrong, wrong,
http://www.brokeroutpost.com/reference/71411.htm (Updated: 11/28/2006)
Related Reference Topics: [myths, superstitions, half truths]

Verification of Rent (VOR)
If this verification form is being used to verify rent, the form is mailed to the landlord to fill out the section under Rental Account. This will verify how long the client has been renting, what the
http://www.brokeroutpost.com/reference/18802.htm (Updated: 03/28/2006)

Is a Mortgage Broker right for me?
In the old days, in order to get a mortgage most banks required a large down payment, squeaky clean credit, and tedious employment and asset verifications. Now days, mortgage brokers can access progr
http://www.brokeroutpost.com/reference/25321.htm (Updated: 03/02/2006)