Mortgage Must Do's (Part 2)

In this informative video, viewers will learn about the basics of getting a mortgage as it relates to the housing market in 2023 and the various types of mortgage loans available. The video starts by discussing the factors that lenders consider when evaluating a borrower's mortgage application, such as credit score, income, and debt-to-income ratio.

The video then delves into the different types of mortgage loans, starting with the most common type, a conventional loan. The video explains the pros and cons of fixed-rate and adjustable-rate mortgages, and how to decide which one is right for a particular borrower. It also covers government-backed loans, such as FHA, VA, and USDA loans, and how they differ from conventional loans.

The video provides information on how to shop around for a mortgage, including comparing interest rates and fees from different lenders, and the importance of getting pre-approved before house hunting. It also touches on the different types of mortgage lenders, such as banks, credit unions, and mortgage brokers.

Throughout the video, viewers will learn key terms and concepts related to mortgages, such as loan-to-value ratio, private mortgage insurance, and amortization. By the end of the video, viewers will have a better understanding of the mortgage process and be better equipped to make informed decisions when it comes to obtaining a mortgage loan.

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