Arizona Mortgage Company talks about the lending process
This is part three in a five-part series that explains what you should know as a potential homebuyer about obtaining a mortgage loan. In this video you will hear a detailed account of how to successfully obtain a loan in Arizona and pick the right company for you. Part one of this series was an overview of the mortgage lending process and part two provided some insightful comments about how to get your loan approved by "thinking like a mortgage company underwriter."
This video will discuss the four "C's" lenders evaluate when you apply for a mortgage loan in Arizona (and throughout the country). Here's a quick preview of the four C's:
- credit - a look into credit and how your payment history comes into play during the mortgage process
- capacity - essentially your ability to cover your debt
- cash - how much do you have and what the loan underwriter sees when evaluating your finances
- collateral - this is essentially the value of the house you want to buy
Don't miss the bonus footage on the "5th C" that you rarely hear about. The 5th "C" can have a dramatic impact on your ability to qualify for a mortgage loan in Arizona. Make sure the Arizona mortgage lenders you interview are aware of how to use these criteria to ensure your best chance at getting a loan and purchasing your dream house.
Watch the Mortgage Process Video
An introduction from the first video in the series:
My primary lender, Craig Bohall with Academy Mortgage, and I decided it was time to produce a series on the mortgage lending process. There are many mortgage companies and lenders on the scene, and it's important for buyers (especially first-time buyers) to understand the lending process.
We used Craig's lending experience and my video camera / production knowledge to produce a five-part series on the lending process. Craig has been involved in the real estate industry for 15 years, but he specifically has been a loan officer for the past eight years. Craig has worked for several Arizona mortgage companies and has found a home at Academy Mortgage. I would highly recommend Craig if you are looking for a real estate loan in the state of Arizona. Picking the wrong mortgage company can cause a lot of grief.
Part 2 of the series
Get a Mortgage Loan Approved