53 | Mastering Lending for Successful Closings

In this Episode we discus why understanding lending qualifications is crucial for realtors to effectively assist clients. Asking about credit scores, employment situations, and prior derogatory credit items helps determine loan eligibility. Different loan programs have varying requirements and waiting periods for derogatory credit items. Conventional loans require a minimum credit score of 620, while FHA loans have lower credit score requirements. VA loans are available to eligible veterans and offer no down payment options. Comparing loan offers requires understanding terms and fees associated with each option. Proper documentation and sourcing of funds for closing is necessary to meet lender requirements and avoid fraud. Whitney, an experienced lender, provides an overview of loan programs and their requirements.

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