Hide Option Choice from the Mortgage Financing Agreement and eSign it in minutes

Aug 6th, 2022
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How to Hide Option Choice from the Mortgage Financing Agreement

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[Music] in this video were going to talk about the four options of owner financing my name is john adolf with adolphe real estate in sleepy village of phoenix new york and were going to talk about the four legal options to of owner financing now im going to give you an opportunity to get the free report were going to go over three of the four so that the report will give you a bonus way of owner financing in this given scenario now lets say that youre a buyer that cant get a mortgage but youve got a seller thats willing but they have a mortgage on the house that you want to buy you have every intention of moving in as the buyer not an investor or anything like that youre going to move in that on and the owner is really warm to this idea here are three of the four reasons or ways that you can should the owner be uh should the owner be warned to this idea of purchasing this home and them not paying off the mortgage in the process now it is a little bit tricky and a little bit d

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.
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A silent second mortgage is a loan thats hidden from a mortgage lender. The goal of such a loan is to make the lender believe the home buyer came up with the down payment on their own and to hide the fact they have one more financial obligation than they are admitting to.
Each mortgage discount point usually costs one percent of your total loan amount, and lowers the interest rate on your monthly payments by 0.25 percent. For example, if your mortgage is $300,000 and your interest rate is 3.5 percent, one point costs $3,000 and lowers your monthly interest to 3.25 percent.
Paying discount points reduces the interest rate and therefore the monthly payments. Your monthly savings depends on the interest rate, the amount borrowed and the loans term (whether its a 30-year or 15-year loan, for example).
If you cant refinance your existing mortgage, your lender may require you to pay off the loan in full in order to remove someone from a mortgage. This closes out the loan and removes your name as well as any co-borrower or co-signer from the mortgage. Depending on how much debt you have, this may not be an option.
One point equals one percent of the loan amount. By charging a borrower points, a lender effectively increases the yield on the loan above the amount of the stated interest rate.
Each point equals one percent of the loan amount. For example, one point on a $100,000 loan would be one percent of the loan amount, or $1,000.
Do I have to disclose all bank accounts to a mortgage lender? If a bank account has funds in it that youll use to help you qualify for a mortgage, then you have to disclose it to your mortgage lender. That includes any account with savings or regular cash flow which will help you cover your monthly mortgage payments.
A mortgage point sometimes called a discount point is a fee you pay to lower your interest rate on your home purchase or refinance. One discount point costs 1% of your home loan amount. For example, if you take out a mortgage for $100,000, one point will cost you $1,000.

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