What is the difference between pre-qualifying and pre-approval?

What is the difference between pre-qualifying and pre-approval?

What if I have bad credit?

What if I have bad credit?

Can anyone get a loan?

Can anyone get a loan?

What information will we need to provide when applying for a mortgage?

What information will we need to provide when applying for a mortgage?

What is the lending process?

What is the lending process?

What is a seller concession?

What is a seller concession?

How does credit fit into the mortgage equation?

How does credit fit into the mortgage equation?

What are terms and closing costs?

What are terms and closing costs?

What is the difference between pre-qualifying and pre-approval?

What is the difference between pre-qualifying and pre-approval?

What do I look for in a realtor?

What do I look for in a realtor?

What types of mortgages are available?

What types of mortgages are available?

How does your mortgage decision relate to product?

How does your mortgage decision relate to product?

Introduction to Homeowners Insurance

Introduction to Homeowners Insurance

Buying A First Home

Buying A First Home

Investment For Beginners

Investment For Beginners

Investment Planning

Investment Planning

Best Investment Options

Best Investment Options

Investment Strategies

Investment Strategies

Investment Management

Investment Management

Business Planning

Business Planning

Business Planning - What is the best entity to use when starting a business?

Business Planning - What is the best entity to use when starting a business?

Business Planning – Advantages and disadvantages of LLC’s and S corps

Business Planning – Advantages and disadvantages of LLC’s and S corps

Business Planning – Non-Compete agreements

Business Planning – Non-Compete agreements

Business Planning – Top negotiating techniques for lease agreements

Business Planning – Top negotiating techniques for lease agreements

View more ...

Jeff Thomas

Mortgage Advisor, Family Lender

www.lendingsolutions.net  

703-830-9808

Jeff Thomas is a Mortgage Advisor and Financial Educator with Family Lender, Inc. located in Fairfax, Virginia. Jeff has seen the mortgage business change significantly in the 15 years he has been in the business. Changes such zero down loans, to relaxed underwriting guidelines to borrowing more than the house is actually worth on a purchase or refinance transaction. 

With the changes in the mortgage industry, Jeff has had to make changes in the way he performs his job. Jeff originally thought he was a loan originator, but after realizing the positive impact he could have on other peoples lives he made some basic adjustments to his business and now sees his position and career as a financial educator.

By taking the time upfront to get to know the people he serves, Jeff has been able to positively impact and improve the lives of the people he works with by providing relevant and timely advice. . This assistance comes in many forms, from insurance to painting to helping interview the right retirement professional. This core group of professionals allows Jeff to concentrate on providing the right advice for each person he works with.

Jeff is one of 200 people in the country that is both a Certified Mortgage Planning Specialist – CMPS and a Certified Liability Advisor – CLA. Jeff recently co-authored a book with Todd Ballinger, called “Borrow Smart Retire Rich”.  The principles addressed in the book will be covered throughout the video. 

Jeff hopes you gain insight on how to purchase and finance a home and hopefully you will find your time well spent and walk away with some information you did not know before.  Jeff Thomas, Where Advice Does Make A Difference!

 

What is a seller concession?

Mortgage Advisor Jeff Thomas discusses what a seller concession is, and how it can help reduce your out-of-pocket expenses.

This expert: 142,440 views
This series: 20,900 views

Download to Mobile Device

Print

Transcripts

Host: What is a seller concession? Jeff Thomas: Seller concession is something that your agent or you negotiate with the seller to purchase the house. So if you are buying a $200,000 house you may negotiate 3% Seller Concession. That 3% or $6,000 is going to help pay your closing cost. Typical closing costs are going to be 3% and you can take that $6,000 and cover points, fees pretty much anything on the HUD-1 and that's going to reduce your overall out of pocket expenses. So if you buy a house for $200,000 and you have $6,000 in closing cost, that are paid for by the seller, it reduces your net cost of the house by $6,000. 1

How does credit fit into the mortgage equation?

How does credit fit into the mortgage equation?

What are the key obstacles associated with character as it relates to getting a mortgage?

What are the key obstacles associated with character as it relates to getting a mortgage?

How long does the mortgage process take?

How long does the mortgage process take?

How does your mortgage decision relate to product?

How does your mortgage decision relate to product?

What do I look for in a mortgage advisor?

What do I look for in a mortgage advisor?

How does your mortgage decision relate to payment?

How does your mortgage decision relate to payment?

How does your mortgage decision relate to availability?

How does your mortgage decision relate to availability?

How does your mortgage decision relate to amount?

How does your mortgage decision relate to amount?

How does your mortgage decision relate to management?

How does your mortgage decision relate to management?

How does your mortgage decision relate to protection?

How does your mortgage decision relate to protection?