s****e
发帖数: 720 | 1 去年买的房，把自己找到的一下东西和大家分享一下，希望对象我一样的新手有些帮助
。关于房贷的整体流程，置顶的FAQ说的已经很全面了，我这里主要是说说offer被
accept后如何shop for loan。
首先要清楚mortgage inquiry和 credit score的关系。下面这篇文章讲的很清楚，最
重要的有两点，第一点是mortgage inquiries在30天之内是不被计入credit score的；
所以你有整整30天的时间可以让loan agent查你的credit file，而且不用担心credit
score受影响。第二点是45天之内的mortgage inquiries在算credit score只算做一个
inquiry。这两点对于auto loan或者student loan也都是适用的。
https://www.creditsesame.com/blog/mortgage/mortgage-inquiries-07062011/
为方便，我把网页的全文列在了下面：
How Mortgage Inquiries Affect FICO Scores
John Ulzheimer July 6, 2011 , Updated: April 13, 2016
One of the most complicated aspects of the FICO credit scoring system is how
inquiries impact your scores. This is easily on the "Top 5" list of the
most misrepresented facts about FICO scores. So, in the interest of clearing
up the record and dispelling all of the "inquiries are worth 12 points"
myths, I'm going to walk you though exactly how inquiries are categorized
and measured by the FICO credit score. What you're about to read is 100%
accurate. Follow me…
1. Inquiries are all specifically coded by the credit bureaus to reflect the
industry from which they came. That means if you apply for a mortgage, auto
loan, credit card, personal loan, student loan, or any other type of loan
the inquiry will likely clearly indicate the specific type of credit you've
applied for. This is important because the type of inquiry plays a key role
in how it's evaluated.
2. Mortgage, auto and student loan inquiries are treated differently from
all other inquiry types. If you don't already know, these are the types of
loan where you can shop around for the best interest rates and terms. As
such, searching for any one of these loans can result on many lenders
pulling your credit report cards and scores. As such, your credit reports
could get loaded up with multiple credit inquiries in a very short period of
time because of your rate shopping activities.
3. FICO doesn't want to penalize smart consumers for rate shopping, which is
something we all should do when looking for funding for major purchases,
like mortgages. So, rather than assume each inquiry indicates a discreet
and unique credit application, they built logic in their credit scoring
model that identifies when you're shopping for one loan rather than many
loans.
Here's how it works:
Mortgage related inquiries, which are very easy to identify because of #1
above, are ignored for the first 30 days they're on your credit reports. So,
if you apply for a mortgage loan on Jan 15th it'll take until Feb 15th for
that inquiry to become "visible" to the FICO score. That means you can apply
for mortgage loans with 100 different lenders over a 30-day period and all
100 of those inquiries will be ignored. That means they'll have absolutely
no impact on your FICO scores.
When the mortgage inquiries age past 30 days they become fair game and will
be seen by the FICO scoring system. The story doesn't end here, though. Any
of those inquiries that occur within the same 45-day period will be treated
as 1 inquiry for scoring purposes. In my absurd example above, the 100
inquiries will be considered as only one. This is because they all would
have occurred within 45 days of each other.
The assumption, and it makes perfect sense, is that you're shopping around
for the best terms on one loan, not 100 loans. By ignoring them for the
first 30 days it gives consumers the ability to shop until they drop without
having to worry about their scores being damaged by their aggressive rate
shopping. And, after the 30 day period ends, you end up with all of those
inquiries counting as you shopping for only one loan, which is exactly what
you are doing: looking for one loan.
This logic applies not only to mortgages but also to auto loans and student
loans. It does not apply to credit cards, which means if you apply for 5
credit cards then the 5 inquiries will immediately be seen by the FICO score
AND they'll all be considered unique loan/credit applications.
Many years ago the 45-day "de-duplication" period was only 14 days. Because
of that, you still hear some people claim that you only have 14 days to shop
for a mortgage, which was true about a decade ago but isn't true any longer
. The next time you're looking for a mortgage loan, you can comparison shop
until you drop. Just make sure you choose the final offer during the first
30 days! | s****e
发帖数: 720 | 2 Shop for mortgage其实现在比以前要简单多了，可能会有人告诉你那些closing
document有多么复杂，loan agent 在fee上和你耍花招是多么容易，因为HUD-1
settlement statement非常难懂。有点人为刀俎，我未鱼肉的感觉。但其实HUD-1已经
从2015年成为了历史。感谢国会干了点好事，因为过去的HUD-1造成了很多fraud。现在
的mortgage叫做loan estimate, A Loan Estimate is a three-page form that you
receive after applying for a mortgage. The Loan Estimate tells you
important details about the loan you have requested. The lender must
provide you a Loan Estimate within three business days of receiving your
application.
Loan estimate最大的好处就是所有的fee清清楚楚列在那里，其中的Part A （
Origination charge）和 Part B (Service you cannot shop for)是由你的mortgage
控制的fee，Part C (Service you can shop for) 决定于你的seller用的title
company，所以你的loan agent给你的Part A和 Part B应该和最后的closing
statement是一致的，Part C他们只能estimate, 有经验的loan agent给的estimate会
和最后的closing statement接近。所以你能从loan agent拿到的就是rebate 减去 （
Part A + Part B）。加上利率和point的花费，新的loan estimate是你非常容易货比
三家，而且由于你不用担心30天之内mortgage inquires对credit score的影响，对于
你郑重考虑的loan，你完全可以request loan estimate去和别的loan agent作比较。
当然我是事后才真正明白loan estimate，所以我只是从我最后选的agent那里拿到了一
份loan estimate。下面是我从网上找的资料，有的link的网页现在打不开，不知道是
不是是暂时的问题。祝大家好运，能够找到自己满意的loan。
Sample loan estimate:
https://files.consumerfinance.gov/f/201311_cfpb_kbyo_loan-estimate.pdf
What is a Loan Estimate?
http://www.consumerfinance.gov/askcfpb/1995/what-is-a-loan-estimate.html
Answer: A Loan Estimate is a three-page form that you receive after applying
for a mortgage.
The Loan Estimate tells you important details about the loan you have
requested. The lender must provide you a Loan Estimate within three
business days of receiving your application.
The Loan Estimate is a new form that goes into effect on October 3, 2015.
The form provides you with important information, including the estimated
interest rate, monthly payment, and total closing costs for the loan. The
Loan Estimate also gives you information about the estimated costs of taxes
and insurance, and how the interest rate and payments may change in the
future. In addition, the form indicates if the loan has special features
that you will want to be aware of, like penalties for paying off the loan
early (a prepayment penalty) or increases to the mortgage loan balance even
if payments are made on time (negative amortization). If your loan has a
negative amortization feature, it appears in the description of the loan
product.
The form uses clear language and design to help you better understand the
terms of the mortgage loan you've applied for. All lenders are required to
use the same standard Loan Estimate form. This makes it easier for you to
compare mortgage loans so that you can choose the one that is right for you.
When you receive a Loan Estimate, the lender has not yet approved or denied
your loan application. The Loan Estimate shows you what loan terms the
lender expects to offer if you decide to move forward. If you decide to move
forward, the lender will ask you for additional financial information.
See a sample Loan Estimate form with interactive tips and definitions.
Intent to Proceed
My loan officer said that I need to express my "Intent to Proceed" in order
for my mortgage loan application to move forward. What does that mean?
It is a good idea to request Loan Estimates from three or more lenders and
compare them to determine which loan offer is best for you. The Loan
Estimate is a new form that goes into effect on October 3, 2015.
After you receive your Loan Estimates, it's up to you to decide whether to
move forward with a mortgage application. If you decide not to proceed with
an application for a particular loan, you don't need to do anything further.
If you do not communicate further with the lender, the lender will most
likely close out your application.
If you do intend to proceed with a particular mortgage application, you must
take the next step and tell the lender you want to move forward with the
application for that loan. The lender is required to honor the terms of the
Loan Estimate for only 10 business days. If you decide to move forward more
than 10 business days after you receive a Loan Estimate, the lender can
revise the terms and estimated costs and provide you with a revised Loan
Estimate.
The lender cannot assume that silence means you intend to proceed. When you
first receive a Loan Estimate, find out what the lender's requirements are
for proceeding with a loan application. After you have reviewed and compared
Loan Estimates, make sure you take the next step of notifying the lender
within 10 business days if you want to proceed with a loan application. Ask
questions if any of the steps or information is unclear.
Once you've notified the lender, you typically then need to pay an
application or appraisal fee and provide full supporting documentation of
your income, assets, and other financial information. If you delay providing
documentation or other items necessary to move your loan application
forward, your lender may need to delay your closing. For example,
documentation of your income and assets is typically needed to approve your
loan, so you'll want to send that information to the lender you have chosen
as soon as possible.
A delayed closing can be costly - your rate lock could expire. If your
purchase contract specifies that you must close within a certain timeframe,
you could risk losing the home and the deposit you gave the seller. So be
sure to send requested information to your lender as soon as possible.
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【在 s****e 的大作中提到】
: 去年买的房，把自己找到的一下东西和大家分享一下，希望对象我一样的新手有些帮助
: 。关于房贷的整体流程，置顶的FAQ说的已经很全面了，我这里主要是说说offer被
: accept后如何shop for loan。
: 首先要清楚mortgage inquiry和 credit score的关系。下面这篇文章讲的很清楚，最
: 重要的有两点，第一点是mortgage inquiries在30天之内是不被计入credit score的；
: 所以你有整整30天的时间可以让loan agent查你的credit file，而且不用担心credit
: score受影响。第二点是45天之内的mortgage inquiries在算credit score只算做一个
: inquiry。这两点对于auto loan或者student loan也都是适用的。
: https://www.creditsesame.com/blog/mortgage/mortgage-inquiries-07062011/
: 为方便，我把网页的全文列在了下面：
| s****e
发帖数: 720 | | v**********o
发帖数: 11689 | 4 赞一个
这年头愿意码原创长文分享经验的实在不多了
【在 s****e 的大作中提到】
: 从来都是来版上问问题，也为版面作点贡献。
| j**********3
发帖数: 595 | 5 我们去年也贷款买房，没觉得有啥问题。
如果有固定收入存在某个大银行，搞不好用那个大银行也挺好的。反正感觉利率也不比
小公司高，还很负责，因为买房的代理说很久没见有做贷款的人出现在closing现场了
。 | B*******l
发帖数: 8 | 6 老美同事给的一个小tip，可以去mortgage reporting site看看别人真实的quote到的
rate是多少，拿来来比较一下。。。 getaquote.fyi就不错 | l****g
发帖数: 5080 | 7 这个自己还得验算一下，我家的wellsFargo就多算了差不多有2万，指出立刻就纠正了
，没任何解释。都不知道他们是有意还是无意的。 |
|
