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The Complete Idiot's Guide to Success as a Mortgage Broker by Marian Edelman Borden, Daniel S. Kahn

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Chapter 15
The Mortgage Application Process: Step by Step
In This Chapter
• Down payment strategies that work for the client and the lender
• Determining the value of the property
• Title searches are a critical part of the process
• Government monitoring of potential bias
• Truth-in-Lending reveals the actual rate
• Locking in the rate
 
The preapproval process discussed in Chapter 13 covered many of the steps your clients will take to secure a mortgage. But preapproval only covers the buyer’s financial qualifications. In this chapter we’ll assume that your client has found a house he wishes to buy. If he has not been preapproved for a mortgage, your client must provide the financial information previously discussed, and you will need to order a ...

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