What to Expect Within the EDU Portal

Welcome to the Seattle’s Mortgage Broker Education Portal, where you’ll find concise and valuable insights to help you navigate the mortgage process. Each video is under three minutes, designed to deliver key information in easy-to-digest segments. Our goal is to make you a bit wiser with each visit.

Chapter 1: Overview

What to Expect Within the EDU Portal
When should you get pre-approved for a mortgage?
What is a Broker? - What makes Mortgage Brokers better than the big banks?
Why getting a mortgage pre-approval is important

Chapter 2: Pre-Approval

Who Does What? - Who is involved when buying a house?
Timeline - How long does it take to get Pre-Approved?
Best Practices after you've been Pre-Approved
Pre-Approval Overview- Why our Pre Approvals are better
Types of Documents- Acceptable type of bank documents
Document Format- How to format a document the lender will accept
Uploading Documents to Floify- How to upload your documents
Types of Loans- Down Payments for different types of loans
Title & Escrow- What is the difference between Title and Escrow?
Gift Funds
What is Earnest Money?
Appraisal vs. Inspection
Home Inspections: Don't Freak Out!
What is an Appraisal Management Company (AMC)?
What is the difference between APR and non-APR fees?
APR Costs: Refinance- Typical APR fees on a typical refinance
APR Costs: Purchase- Typical APR fees on a typical purchase
Conditions Best Practices
Golden Triangle- Managing Expectations, the rule of the Golden Triangle
Critical Steps - Financing Clarity
Contingencies
Offer Strategies: Greased Lightning!
Offer Strategies: Thor's Hammer
Offer Strategies: Cover Letter
Tip 1: Fast Closings
Tip 2: Flexible Closing Date- Why a flexible close date can help you win
Tip 3: Rentback- Why a Rent-Back can help you stand out from the competition
Tip 4: Earnest Money- How to use Earnest Money as a negotiation tool
Tip 5: Financing Contingency- Why a financing contingency looks bad to the seller
Tip 6: Inspection Contingency- Here's how to get an inspection without detracting from your offer
Tip 7: Cover Letter- How to make your Cover Letter resonate with the seller

Chapter 3: Under Contract

Who Does What?- Who to contact when your loan is in process
Timeline- Under contract, Next Steps
Underwriting- What is Underwriting and what to expect from them
Interest Rate Lock
Interest Rate Extensions- How to avoid extra fees from rate lock extensions
TRID- Government Required Delays
Gift Funds- The easiest way to receive Gift Funds
Esigning- We are a paperless company! Esign all the way
Mortgage Conditions: Assets
Mortgage Conditions: Income
Mortgage Conditions: Insurance
Mortgage Conditions: Appraisal- What is an Appraisal?

Chapter 4: Closing

Who Does What and Timeline- Your loan is ready to sign, here's what to expect
Moving Money- Moving your money into closing

Chapter 5: Post-Closing

First Mortgage Payment- How to make your first payment
Property Tax Coupon- What your property tax coupon means
Insurance Not Escrowing- Why your insurance may not be escrowing automatically
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Seattle’s Mortgage Broker – Joe Tafolla
Helping Washington Home Buyers Achieve Financial Success
A Division of City Mortgage Brokers, LLC MB# 2158059
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Questions, comments or concerns?
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Call SMB: 206-251-0818
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Email: joe@seattlesmortgagebroker.com
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506 2nd Ave, Suite 1400, Seattle, WA 98104
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