Do we have to use 1003 Loan Application when we purchase residential house?
Sung A asked: Hi
Year 2006 I purchased house ($625K). I hired mortgage broker and he applied loan for me. BB&T was my lender and loan was approved in 20 days. I put $125K for deposit and got $500K loan. Last year one of my friend told me that BB&T is not a wholesale lender. There [...]
Does the bank owe me?
Virg asked: I secured a loan. The account it was placed in required two signatures. The “second party” convinced the bank via telephone to transfer all of those funds into a second account (telephone transfer). Do I have any potential recourse with the bank (loan officer) who released the funds in such a manner? The [...]
why do we need to have insurance on the land portion of our construction loan?
Mary B asked: We are getting a construction loan through Wells Fargo. We have bought land already and have a loan on it with another bank that we are going to roll over into the construction loan. Our loan officer told us that we have to get insurance on the whole loan amount but that [...]
Does anyone really know how a mortgage is created?
amacmedic asked: The true facts about how a mortgage is created are known to very few people… even bank loan officers cannot answer this question!
I am looking to see what people know of the actual mechanics of how a mortgage is created. Lots of people know that they must fill out an application, have a [...]
loan officer making a deal behind our back?
erin asked: we’re currently in the process of getting an FHA mortgage loan with bank of america. for some reason, it’s very important we tell our loan officer who our realtor is. my boyfriend thinks he’s going to try to make some kind of a deal behind our back. why does it [...]
Why is my bank raising there loan rates and the Fed is dropping there’s?
Joseph F asked: About 6 months ago I went to my loacl bank about building a home. It would be on a lot next to my business and its zoned commercial so they said it would have to be a commercial loan. The commercial rates are a bit higher and they said it would be [...]
who would you trust more to give you a home loan?
ethansmama2008 asked: Mortgage loan officer or tradition bank?
First time home buyer with loan questions?
Materhead asked: I have soooo many questions and my husband and I are going to the bank today to meet with the loan officer for the first time.
First, do I need to have an appointment with him/her?
Can you get a loan with a bank you do not have an account with?
Can you go [...]
loan officer question?
All4Christ asked: how come the bank wantts to see funds in your account when you say you make 7,000 a month? and they expect you to have 12,000 in the account! the loan officer asked how much i make per month befor taxes. i said 7,000. now the bank expects me to have 12,000 in [...]
loan officer or insurance sales? which is harder?
ms.jackson… asked: Right now I am working as a loan officer, but i have the opportunity to cross over into insurance… mortgages are pretty easy because if you call enough people eventually you find some that want, or that you can convince they need to refinance. but i feel some of the things that are [...]
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