VA Funding Fee | Virtual Mortgage Training

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General Mortgage Knowledge

Work History

Ability to repay (1:40)
Employment Stability (1:47)
Employment Gaps (1:26)
Career Transitions (1:10)
VOE (1:38)
Quiz

Debt-to-Income Ratio or DTI

Front End DTI (5:53)
Back End DTI (0:46)

Income

Gross Income
W-2 Employees
1099 Employees
Variable Income
Non-Taxable Income
Self Employed

Mortgage Types

Fixed-Rate Mortgages
Adjustable-Rate Mortgages (ARMs)
Interest-Only Mortgages
Balloon Mortgages
Jumbo Loans
Reverse Mortgages
Home Equity Loans and Lines of Credit (HELOC's)
Construction Loans
Non-Qm Loans
Hard Money and Fix and Flips

Assets

Checking/Savings Accounts
Retirement/Depleting Assets
Earnest Money
Gift Funds, Gift of Equity, Seller Concessions, Lender Credits

Housing History

Stability
First Time Homebuyers
Distance Requirements

Property Taxes, Homeowners Insurance, and Homeowners Association Dues

Where to find property tax information
Market appraisal vs tax appraisal
How to calculate monthly property tax information
What is homeowners insurance?
What are the required coverages for homeowners insurance?
What is Flood Insurance?
How do I determine if flood insurance is required?

Mortgage Insurance, Funding Fee, Guarantee Fee

MIP vs PMI
VA Funding Fee
USDA Guarantee Fee

Title, Escrow, and Related Services

Why title services are important
What are title fees?
What is a survey and what information does it contain?
Easements and Encroachments
What is an escrow account?
What are prepaids?
How do I calculate escrow and prepaid costs?
Other services and fees related to closing costs
Taxes, Attorney Fees, Recording Fees, and

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