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What Is Equity?

  Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this video shows – you have a house worth $300,000 today and you owe the bank $200,000....

What Are Real Estate Commissions?

  Like the video says – real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent represents the sellers and another represents the buyers the commission is typically...

What Is “Prime”?

  The Prime Lending Rate – sometimes just called “Prime”  – is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime. In the US, Prime is affected by the Federal...

What Steps Need To Be Taken To Secure A Loan?

  You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you’ll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years....

What Is An Escrow Account? Do I Need One?

  As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance (if applicable), and property taxes....