Interest Rate Lock

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

Education
Portal

Neighborhood Tours

Mortgage
Blog

Mortgage Tips
& Tricks

Seattle’s Mortgage Broker – Joe Tafolla
Helping Washington Home Buyers Achieve Financial Success
A Division of City Mortgage Brokers, LLC MB# 2158059
Contact Info
Questions, comments or concerns?
Call SMB: 206-251-0818
Email: joe@seattlesmortgagebroker.com
506 2nd Ave, Suite 1400, Seattle, WA 98104
NMLS 2237625
www.nmlsconsumeraccess.org
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