Find out how a loan from the bank works, from the initial application to the repayment process. We’ll also discuss the benefits and drawbacks of taking out a loan. Checkout this video: Introduction A loan from the bank is a bit different than other types of loans. Here’s how it works: when you take out…
Find out how loan officers get paid, how much they make, and how you can become one. Checkout this video: The Basics of Loan Officer Compensation Loan officers typically get paid 1% of the loan amount for closing a loan. So, if you close a $100,000 loan, your compensation would be $1,000. In addition, loan…
A non-conforming loan is a loan that doesn’t meet the guidelines that are set by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac. Checkout this video: What is a Non Conforming Loan? A non-conforming loan is a loan that does not meet the guidelines of a conventional loan. These types of loans are…
A commercial loan is a debt-based funding arrangement between a business and a financial institution such as a bank. The loan is used to finance business activities such as the purchase of commercial real estate or the expansion of a company. Checkout this video: Introduction A commercial loan is a debt-based funding arrangement that a…
Considering an interest only loan? Get the facts on interest only loans , including how they differ from traditional mortgages, and whether or not they’re the right choice for you. Checkout this video: What is an interest only loan? An interest only loan is a type of mortgage where your monthly payments only go towards…
Find out how to be a loan officer in the United States. This comprehensive guide covers everything from the job description and requirements to loan officer salary and training. Checkout this video: Introduction A loan officer is a professional who helps people obtain loans from banks and other lending institutions. They are responsible for evaluating…
If you’re looking to get an FHA loan and want to know how much you qualify for, read on. We’ll go over everything you need to know about FHA loans, including how much you can borrow and what factors determine your loan amount. Checkout this video: How Much Can You Borrow With An FHA Loan?…
A loan officer helps people obtain loans from banks and other financial institutions. Loan officers typically work in the banking industry. Checkout this video: Introduction Loan officers have a significant impact on the economy. They help people buy homes and cars, finance education and small businesses, and purchase other items on credit. Becoming a loan…
If you’re considering a home equity loan, it’s important to know how long the process takes. Follow these steps to get a loan in as little as two weeks. Checkout this video: How Long Does It Take to Get a Home Equity Loan? When you apply for a home equity loan, the process can take…
Jumbo loans are available for homebuyers looking to purchase a home above the conforming loan limit. Find out if you qualify for a jumbo loan in 2021. Checkout this video: Introduction A jumbo loan is a type of mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Jumbo…