Mastering The Pre Qualification Process Of A Mortgage Loan

Tags: Mortgage

CEO and Founder of Finibi Mortgage teaches you how to pre-qualify borrowers from start to finish

Last updated 2022-01-10 | 4.7

- You will be able to pre-qualify borrowers for all types of loans
- You will be able to identify who qualifies for a mortgage and who does not
- You will be able to understand what key ratios borrower need to qualify for

What you'll learn

You will be able to pre-qualify borrowers for all types of loans
You will be able to identify who qualifies for a mortgage and who does not
You will be able to understand what key ratios borrower need to qualify for
You will be able to distinguish the difference between pre-qualfying a borrower and pre-approving a borrower
You will be able to pre-qualify a borrower manually and digitally
You will be able to close more loans
You will be able to increase your income and take more applications
You will become much better in your career overall

* Requirements

* Must understand English.
* High School Diploma level Mathematics

Description

Mastering the Pre-qualification Process of a Mortgage Loan is a very intelligent decision that will increase your profits by at least 2 - 3x's and can have a significant effect on your financial future. Knowing how to start the entire process is the key to success when financing real estate!

In this in-depth course, you'll learn how to pre-qualify borrowers for all types of loans. From how to pre-qualify a borrower for an FHA loan to running a loan through DU or LP and getting an "approved/eligible" status, these lectures are designed for any one who is in the world of finance and particularly mortgages. If you're a real estate agent, processor, mortgage loan originator, underwriter, banker, etc., this course will take your game to the next level and save you time while increasing your income. With real world examples demonstrating exactly how to execute each step of the pre-qualification process, you'll find out exactly how to do less and make more by using my personal pre-qualification formula, which means you'll learn how to work less hours and increase approved borrowers which will also increase your closings and profits.

Main benefits of this course and of being able to efficiently pre-qualify borrowers:

- Increase you're income by 2 - 3x's or more

Most people who put into practice what they learn in this course will have some of the best years of their career. Go from making $60,000 to $120,000. For people who are consistent with the process they learn can even make $150,000+

- Spend less hours on the phone or in-person taking pre-qualifications

- Learn what you need to do to set up a proven pre-qualification process

- See immediate results while having more free time

If you already know the basics of how to pre-qualify borrowers and want refresh your memory or are just starting out and want to learn more in depth, this is the course for you. If you want to be successful in this industry, you can't leave things to luck. You need to know how to pre-qualify more people in less time and know they will be approved for a home loan when you provide them a pre-qualification letter. This takes the right knowledge and the right skills which is what this course will provide you with.

The first section of this course will teach you how to overcome three major obstacles in the pre-qualification process: how the entire pre-qualification process works. What type of pre-qualification method is the best and most efficient. In the second section of this course, I will teach you my personal pre-qualification method, how to save a Fannie Mae 3.2 file, and other important processes that will improve your productivity while increasing customer satisfaction. In the third section of this course, you will see live examples and will learn how to pre-qualify borrowers for FHA, conventional, VA, and USDA loans even if they're purchasing a home or refinancing their current one, and you will learn how to read and understand a pre-qualification letter.

In the end, you'll have the tools necessary to pre-qualify borrowers faster and will have a seamless technique to make the rest of the process a success. A course diploma will be available to you when all sections have been completed at 100% which you can save or print. For instructions on downloading your course diploma you can go to: https://support.udemy.com/hc/en-us/articles/229603868-Certificate-of-Completion

Your instructor

Joseph Correa is the founder and CEO of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. Having closed hundreds of mortgage loans and pre-qualified thousands of borrowers, he has the necessary knowledge to help you become a success. In the past, he has also owned a correspondent lender business and invested in real estate.

Who this course is for:

  • Anyone looking to start a new career in real estate and wants to be a step ahead of the competition
  • Anyone who wants to work from home and online
  • Mortgage loan originators looking to start their own business
  • Students who want to make a large income no matter what your age
  • Anyone who is in banking and wants to become more knowledgeable and more efficient
  • Anyone who wants to know how the pre-qualification process works
  • Students who want to make a large income no matter what your age
  • Anyone who wants to learn to process mortgage loans

Course content

3 sections • 48 lectures

Why should you start this course? Preview 00:24

Who is this course for? Preview 00:26

Can I double my income by improving the pre-qualification process? Preview 00:30

What's the right way to pre-qualify borrowers? Preview 00:42

Instructor Background Preview 00:32

What you will learn in this course Preview 00:39

Why is it important to know how to pre-qualify a borrower? Preview 00:49

What should I do if a borrower does not qualify? Preview 01:33

Pre-qualification vs Pre-approval Preview 00:39

Self-guided pre-qualifications vs assisted pre-qualifications Preview 01:42

Can pre-qualifying borrowers properly save me time and increase my profits? Preview 00:53

The basic steps and how to determine a debt to income ratio Preview 01:40

Using pre-qualifications to leverage your relationship with realtors Preview 00:29

Deciding if a co-borrower will be necessary Preview 00:41

Valid assets to be used Preview 00:40

Analyzing declarations Preview 00:39

What government monitoring information is required? Preview 00:41

Physical vs digital pre-qualifications Preview 00:41

Ways to pre-qualify a borrower Preview 00:29

Completing a pre-qualification over the phone Preview 00:47

Completing a pre-qualification in-person or face-to-face Preview 00:57

Completing a pre-qualification by mail or fax Preview 00:47

Completing a pre-qualification online Preview 00:52

My personal pre-qualification formula Preview 03:02

Manual pre-qualifications Preview 06:00

Online software assisted pre-qualifications Preview 00:53

Saving a Fannie Mae 3.2 file Preview 00:58

Obtaining income and asset documents for a loan Preview 00:46

Obtaining valid government ID Preview 00:33

Qualifying rates and loan programs Preview 01:15

A Quick Interruption Preview 00:59

Running the loan on an AUS Preview 00:51

Saving a Fannie Mae 3.2 file once your have an approve/eligible Preview 00:43

Online tools to pre-qualify borrowers Preview 00:40

Creating a pre-qualification letter Preview 00:44

Preapprovemeapp.com website tutorial Preview 02:31

Preapprovemeapp.com creating a loan Preview 00:45

Preapprovemeapp pre-qualification app navigation Preview 02:22

Pre-qualifying a borrower for a conventional purchase loan Preview 12:55

Running DU or LP and obtaining a pre-qualification letter Preview 05:25

Pre-qualifying a borrower for an FHA refi rate and term loan Preview 09:12

Pre-qualifying a borrower for a VA purchase loan Preview 08:19

Pre-qualifying a conventional refi cash out investment property loan Preview 07:42

Pre-qualifying a borrower for a USDA 100% LTV purchase loan Preview 05:13

Pre-qualification: borrower smartphone view Preview 01:03

Pre-qualification letter example 1 Preview 02:02

Pre-qualification letter example 2 Preview 02:01

Thank you Preview 00:19