How to Get A House Loan
Part of the Video Series How to Buy a House
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Contact: kelleywhiteteam.yourkwagent.com
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Video Transcript
How to Get A House Loan
On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how to buy a house. How do you get a loan? Well, there's many different ways to get a loan. You can ask your parents. No, I'm only kidding. You go to a bank. If you go to a bank, you go to a mortgage bank, you go the bank where you do your banking. You meet with the loan officer. The loan officer asks you all sorts of personal questions and you sit there. He pulls out his laptop and he punches everything in and he says, oh you didn't pay a credit card back in 1993, so your credit score dips 10 %. He finds all sorts of things about yourself then the loan officer finds out how much you are allowed to be loaned by the bank and it's his decision is the underwriter and the officers. It's basically a numbers game too. So they run the numbers; they find out how much they're able to give you as a loan and that's how you get a loan. It's a question of finding a great mortgage company or a bank that you're comfortable with. Ask around. Usually your realtor can help you find a great mortgage company.
On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how to buy a house. How do you get a loan? Well, there's many different ways to get a loan. You can ask your parents. No, I'm only kidding. You go to a bank. If you go to a bank, you go to a mortgage bank, you go the bank where you do your banking. You meet with the loan officer. The loan officer asks you all sorts of personal questions and you sit there. He pulls out his laptop and he punches everything in and he says, oh you didn't pay a credit card back in 1993, so your credit score dips 10 %. He finds all sorts of things about yourself then the loan officer finds out how much you are allowed to be loaned by the bank and it's his decision is the underwriter and the officers. It's basically a numbers game too. So they run the numbers; they find out how much they're able to give you as a loan and that's how you get a loan. It's a question of finding a great mortgage company or a bank that you're comfortable with. Ask around. Usually your realtor can help you find a great mortgage company.
About the Expert
Expert: Dan Kelley has been selling real estate in the Miami area for many years and is featured often on HGTV's hugely successful real estate show, "My House Is Worth What?" Read More
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