1. Cruise To Your Home Credit Assistance On-Board
DeSean A Ford
De'Sean A Ford (904)
Cruise To Your Home
Credit Assistance On-Board
September 2014
D'Sean A. Ford (904)
Mortgage Broker since 2001

2. DeSean A Ford Powerful Tips to Purchase, Sale and Refinance
Professional Mortgage Seminar
Powerful Tips to Purchase, Sale and Refinance
D'Sean A. Ford (904)
Mortgage Broker since 2001

3. Why Choose a Mortgage Broker Over a Bank
A FEW REASONS TO CHOOSE A MORTGAGE BROKER OVER A BANK
Your local Mortgage Broker is fully licensed by the state. Bank employees are not required to be licensed
Your Mortgage Broker is open at all hours, including nights and weekends, not just during “banking hours”
Your Mortgage Broker has many financing options to choose from, while banks only have a the standard loan types
Your Mortgage Broker pre-underwrites your file before it is submitted to underwriting, while bank employees are usually “loan application takers”
Your Mortgage Broker has a local presence and you can walk into the office at any time. If you’re dealing with a bank, you may not speak to the same person every time you call
Your Mortgage Broker's fees are negotiable
Your Mortgage Broker really cares about you as a client . Banks deal with so many clients that you become a statistic
D'Sean A. Ford (904)

4. What is a Mortgage Broker?
A Mortgage Broker is an independent real-estate financing licensed professional, who specializes in the origination of residential mortgage loans. Mortgage Brokers normally transfer the actual funding and servicing of loans on to wholesale lending sources. A mortgage Broker is also an independent contractor working with (on average) as many as 40 lenders at any one time. By combining professional expertise with direct access to an array of loan products, your Mortgage Broker provides the most efficient way to obtain financing tailored to your specific financial needs
D'Sean A. Ford (904)

5. What Do Mortgage Brokers Do?
In the volatile home-lending market, Mortgage Brokers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the Mortgage Broker's most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional Mortgage Broker can wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options available to you
D'Sean A. Ford (904)

6. Mortgage Brokers Handle the Little Details
There are literally thousands of variables that can affect the outcome of your mortgage transaction. That's why you need a Mortgage Broker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, underwriters, processors, attorneys, and any other services which may affect your transaction.
A MORTGAGE BROKER ALSO:
Discusses and explains financing program options
Informs you, in writing, of lock-in options
Explains all documents needed to start the loan application
Explains all associated costs of the loan
Explains the disbursement of all loan proceeds
Explains the loan process, from application to closing/funding
Provides you with a Closing Disclosure of cost and fees
Communicates with you throughout the loan process in a timely manner
Coordinates the final closing of your transaction
D'Sean A. Ford (904)

7. DeSean A Ford
De'Sean A Ford (904)
Pre-Qualification
A number of factors determine the price range of homes you’ll want to preview – one of these factors is a loan pre-qualification. As your licensed Mortgage Broker, I will help you get pre-qualified.
WHY DO YOU NEED TO GET PRE-QUALIFIED?
You need to know how much you can afford
You need to know how much cash you will need for the down payment, if necessary
This will simplify your mortgage loan process
ITEMS CONSIDERED FOR A LOAN APPLICATION ARE:
Your employment history for the last two years
Credit history and credit scores(580 Min Credit Score)
Monthly gross income vs. liabilities
With my knowledge of the Mortgage Industry, I will help you to make and informed decision as to the type of loan you will want. There are many different types of loans to consider – FHA , VA and Conventional.
D'Sean A. Ford (904)
Mortgage Broker since 2001

8. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
Sources of Mortgages
FHA – Federal Housing Administration. This was designed in 1934 to assist homebuyers in purchasing.
FHA is NOT a lender. FHA is considered an insurance program. Lenders are protected in the form of MIP(Mortgage Insurance Premium)
In Short, FHA mortgages are made by private lenders insured by the Federal Government through premiums made by the lender and the borrower. This enables the program to offer lower down payments and to offer more liberal qualification standards.
D'Sean A. Ford (904)

9. Sources of Mortgages Cont.
VA – The Department of Veterans Affairs was established in 1944 to provide the Veteran by “guarantying” against foreclosure. VA Guarantees only a portion of the default while FHA insures 100%.
If a VA loan goes into default, VA has the option of taking over by auctioning the home and paying off the lender.
VA later began to offset the administrative fee by collecting a Funding Fee.
D'Sean A. Ford (904)

10. Sources of Mortgages Cont.
DeSean A Ford
De'Sean A Ford (904)
Sources of Mortgages Cont.
Conventional Mortgage
Two Types:
Conforming and Non-Conforming
Conforming Mortgages are those eligible for purchase through Federal National Mortgage Association. (Fannie Mae) or Federal Loan Mortgage Corporation (Freddie Mac)
Non- Conforming Simply put are non “A” type credit mortgages or sub-prime.
D'Sean A. Ford (904)
Mortgage Broker since 2001

11. Sources of Mortgages Cont.
USDA – 100% Financing
Income Based Program for Rural Development Areas
Address Determination
Income Determination
D'Sean A. Ford (904)

12. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
Types of Mortgages
Fixed Rate Mortgages
Adjustable Rate Mortgages
Balloon Mortgages
Reverse Mortgages
Over 70% of seniors own their own home outright but many do not have the income stream to support themselves. With a Reverse Mortgage, they can choose from three options w/o paying back the loan:
Receive a lump sum
Opt for a line of credit
Receive monthly income
D'Sean A. Ford (904)

13. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
1st Time Homebuyers
I will lead you through every single step of the process.
I can put you in contact with a Realtor who will help design your “Wish List”
I will minimize the stress in the buying process
My Promise to You!
Negotiate the deal to save you money.
Commit my time & energy into structuring the perfect deal
D'Sean A. Ford (904)

14. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
1st Time Homebuyers
This literally means any person whom has not owned a home within the last three years
Highly recommend all 1st time homebuyers to take the Home Buying course online or in person. Ehomeamerica.org online Fee $75.00
D'Sean A. Ford (904)

15. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
Scoring Your Fico
All three major credit reporting agencies
Equifax P.O. Box Atlanta, GA
Experian P.O. Box 2002 Allen, TX
TransUnion P.O. Box 1000 Chester, PA
Each of these utilize a slightly different scoring system to arrive at a score. The best known is called the FICO, based on a model developed by Fair Issac and Company (FICO) used by Experian. Equifax model is BEACON, while Transunion used EMPIRICIA. Each of these consider a wide range of data available in your credit report, The primary factors are:
1. Credit History – How long have you had Credit
2. Payment History – Do you pay your bills on time
3. Credit Card Balances – How much do you own on how many accounts
(Balance owed vs. Credit Limit)
4. Credit Inquiries – How many times have you had your credit checked
D'Sean A. Ford (904)

16. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
Raising Your Credit
If your credit score is less that what is needed then we need an immediate consultation. However, here are two companies that will GUARANTEE credit cards to help raise score:
Capital Bank This is a secure credit card. Anyone 18 years of age is GUARANTEED 2 CARDS
Orchard Bank On their mini-application you want to discuss with me first how to obtain INSTANT APPROVAL. Please take my advice. I know what I am doing!
D'Sean A. Ford (904)

17. Examples of Rates & Loan Amounts
DeSean A Ford
De'Sean A Ford (904)
Examples of Rates & Loan Amounts
30 Yr Fixed @ 4.875% x $200,000 = $1032 (P&I) Monthly Payments (FHA)
30 Yr Fixed @ 4.25% x $150,000 = $720 (P&I) Monthly Payments (FHA)
30 Yr 4.875% x $100,000 = $535 (P&I) Monthly Payments (VA)
30 Yr 4.5% x $150,000 = $768 (P&I) Monthly payments. (VA)
D'Sean A. Ford (904)
Mortgage Broker since 2001

18. D'Sean A. Ford (904) 476 3080 Hiddenhillsbroker@yahoo.com
Your Trusted Broker
Sit Back & Relax When You Deal With Me. Your Home Buying Process Should Be an Enjoyable One. I take calls 6 days a week 8am – 11pm. Please Allow Me To Rest on Thursdays
D'Sean A. Ford (904)