Free

Understanding Loan Documents & Lending Programs (WWW.SMARTRCAGENTS.COM)

Event Information

Share this event

Date and Time

Location

Location

Smart Realty., LLC

1700 Elton St, Ste#201

Silver Spring, MD 20903

View Map

Friends Who Are Going
Event description

Description

~ FREE Seminar ~

Parking is available in shopping center parking lot

Get ready for the most comprehensive presentation on the loan documents and available programs including 100% Fiannacing and VA Loans and more. It is quite common for people to go into the purchasing process of buying a rental property without having any understanding of the documents that are involved. Our preferred mortgage lender of over 10 years will be diving deep into the following loan documents. Our goal is to give viewers an in-depth understanding of how to read and interpret these documents in order to prepare for a smooth and successful closing.

  1. The 1003 Application (This is what the loan structure is built on)

  2. The Loan Estimate or "LE" (Included with the preliminary loan disclosures that are sent out when the loan file is activated)

    • What are standard fees and what would be considered out of the norm?

    • Difference between pre-paid and actual fees

    • The low-end and high-end range for costs such as processing, underwriting, and loan origination fees

    • Definition of common industry terms that a first timer might not be familiar with.

  3. The Closing Disclosure or "CD" (The borrower has 3 days to review their lender fees and 3rd party fees/cash to close. This way there are NO surprises at closing)

    • How impounds work

    • What are typical title and escrow fees?

    • What are typical "additional settlement charges?" (Ex: survey, pest inspection, HOA dues, etc.)

    • Definition of common industry terms that a first timer might not be familiar with

  4. Final Closing Documents (Any minor changes that occurred such as changing your insurance policy and now the premium is higher, the closing date is further out than expected, pre-pays for HOA change, etc.)

In each of these segments we will dive into the importance of each document and explain why it is necessary that everything is disclosed properly and the application is complete upfront. Anyone considering to buy rental property should attend, understand, and follow the instructions mentioned during this event.


VISIT US ONLINE AT WWW.SMARTRCAGENTS.COM

Share with friends

Date and Time

Location

Smart Realty., LLC

1700 Elton St, Ste#201

Silver Spring, MD 20903

View Map

Save This Event

Event Saved