Credit Update & Home Loan Options - 3 CE LIVE Stockbridge

LIVE ONSITE - 3 HR CE Class - 11AM - 2PM

H omeownership Center, 175 Country Club Drive, Stockbridge, GA 30281

Credit Update and Mortgage Approval

Recent Changes to Credit That Affects The Mortgage Process

Special Guest: Terri Madden - National Director of Community Lending - Silverton Mortgage

How easy is it to get approved for a mortgage in 2024?

Between record-high home prices, increase interest rates, rising inflation and recession fears, home shoppers have been put through their paces this year. This has created more uncertainty closing out 2023 and moving into 2024 for many homebuyers seeking an affordable mortgage.

First-time homebuyers have been especially feeling the squeeze, as skyrocketing home prices and mortgage rates have diminished their down payment and buying power.

Recent FICO changes regarding medical bills and rent history will improve the consumer's credit score, but the fundamentals of good credit remain the same.

There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility along with different term requirements for qualified buyers. In addition, rates can be significantly different depending on what loan type you choose.

Let’s talk about the logistics in shopping, comparing and selecting a mortgage with subject matter expert Terri Madden.

We will take a look at:

• New credit score changes and how and when credit is being reported
• New mortgage underwriting guidelines and loan limits
• New loan pre-qualification process
• New buzz words in the housing industry
• Affordability and sustainability
• Obtaining loan approval – how to maintain your pre-approval during housing hunting
• How to pay off your home less than 30 years

Let’s help the buyer know how much they can spend on a home so they can shop for homes within their price range and be ready for an offer negotiation.

Sponsor: Silverton Mortgage

3 Hour In Class | Continuing Education

My CE Class, LLC - School #5914

Cathy McDaniel | [email protected]

Text: 404-550-0775 |www.classeswithcathymcdaniel.com

Host or Publisher Cathy McDaniel