The episode features Todd, The Mortgage Captain, discussing the loan application process and what information lenders will ask for. He breaks down the nine sections of the loan application, including borrower information, employment history, other income sources, financial information, real estate owned, loan details, declaration questions, demographic information, and loan originator information. Todd emphasizes the importance of providing accurate information and the need for supporting documentation. The episode also includes an interview with Sean Cole, a real estate agent, who shares his journey into real estate and offers advice for first-time homebuyers and those starting a career in real estate.

You can contact Sean by Phone at 719-242-8834, on Instagram @scolexworld and Facebook by searching Sean Cole.

00;00;06;01 Introduction to the loan application process.

00;00;22;26 Overview of the Uniform Residential loan application (1003).

00;01;13;29 Section one: borrower information (name, date of birth, etc.).

00;02;01;03 Section one: previous addresses and employment history.

00;02;56;20 Section one: gap in employment and letter of explanation.

00;04;01;15 Section one: two year work history requirement.

00;04;45;04 Section one: other income sources (alimony, child support, etc.).

00;05;59;24 Section two: financial information (assets and liabilities).

00;07;12;02 Section two: disclosure of alimony and child support payments.

00;08;41;23 Section three: real estate owned (for current homeowners).

00;10;34;02 Loan application process and sections

00;11;00;21 Declaration questions on the loan application

00;11;22;25 Examples of declaration questions

00;12;10;18 Documentation of military service

00;12;27;14 Demographic information on loan application

00;13;36;10 Loan originator information

00;14;05;12 Supporting documentation required for loan application

00;15;12;24 Documents needed for employment verification

00;16;21;25 Documents needed for self-employed individuals

00;16;44;11 Documents needed for bank statements

00;20;55;07 Introduction to the importance of being visible in real estate

00;21;15;07 First-time homebuyers should consider market changes and comfort level

00;22;00;25 The importance of financial numbers and comfort for first-time homebuyers

00;22;46;12 Confused buyers don't buy, transparency is crucial

00;23;47;21 Background of being a military kid and love for architecture

00;24;49;12 Success attributed to mentality and mentorship

00;25;14;14 Importance of learning from others and knowing oneself

00;26;47;19 Starting a career in real estate requires making connections

00;27;36;14 Contact information provided

00;28;05;21 Conclusion and invitation to future episodes