In this video I explain your mortgage down payment, what you can (and can’t) use as a down payment, and the steps you need to take when applying for a mortgage. First time home buyers often have mistaken assumptions about what qualifies as a down payment, the minimum down payment requirements for different loan types, and when they need to have the money ready and available. In this video I explain all of these things based on my 17 years of experience as a mortgage lender.
1:02 What are acceptable sources?
1:50 What is down payment?
2:58 Verification of down payment
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With 17+ years of experience as a loan officer, Stephanie Weeks founder of The Weeks Team and has ranked among the top 1% loan officers in the nation several years running.
Interested in working with The Weeks Team to get a home loan? 🤝
They are your one-stop mortgage resource for anyone who is looking to buy, sell, or refinance residential properties in Louisiana, Arkansas, Mississippi, Alabama, and Florida.
👉Learn more at https://www.weeksteam.com/
(Stephanie’s NMLS#97116 and the branch NMLS#49604)
Check out Stephanie’s book, Mortgage Peace 📕
🤔Things you’ll learn in Mortgage Peace include:
☮️The importance of good teamwork
☮️ How to communicate successfully
☮️5 Mistakes Borrowers Make (& how to avoid them)
☮️ Types of mortgage loans
☮️Advice for selecting the best loan
☮️ How to get a great rate
☮️Plus much, much more
👉Get Mortgage Peace in print or ebook here: https://amzn.to/2ZThoNq
🔉Download the Mortgage Peace audiobook here: https://amzn.to/3cpI1fP