Magnifying Brilliance Podcast

When coordinating with a meeting planner for your event always be prompt when they ask for information, etc.  You should also not be overly demanding.

When traveling for business, fly in the day before and absolutely no sightseeing until after the business is done.

When you are traveling make sure you carry credit cards from 2 different institutions and carry some cash for emergencies.

With loan estimates, the keyword is that they are just that: Estimates.

TRID and APR | not the same as interest rate APR includes closing costs.  IF this goes up by more than 1/8th of a percent then the clock starts over.

If the APR goes up by more than am 1/8th of a percent then they need to restart the clock on the 3 days.  But if it goes down there is no need.  APR is not the same as the interest rate.

The 3-day rule with TRID: with TRID there is an automatic, by-law, required 3 days from when the closing disclosure is shown to the buyer before settlement can happen.

This is the first of a few episodes talking about TRID, TILA and RESPA

TRID:  TILA-RESPA Integrated Disclosure Act

TILA: Truth and Lending Act

RESPA: Real Estate Settlement and Procedures Act

The crazy part is, over two-thirds of the population thinks you have to have 15% or more down. And what have we learned about that, John?

The great thing is, we're trying to get rid of that myth that's out there. And the reality is, there are seven hundred 100% financing programs here in Utah that we use all the time. There are also 29 grants that people can use to get into a house, basically, for $1,000 or less in most cases.

One of the things we want to talk about is how that 3 1/2% down payment on an FHA loan can be gifted from a family member or an employer, but it's very important that we identify for you where that gift can come from, because I used to get a lot of questions about this.

Yes, and the important thing on that, it can't just be Great Uncle Ed or something. It has to be a direct family member, parent, sibling, stepsibling or stepparent.