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THETHEMORTGAGEMORTGAGEMANUALMANUAL

Thank YouGood service speaks for itself. We are looking forward to the opportunity to earn your referrals! -Anthony WheelerDear valued customer,I would like to take a moment to express my sincerest gratitude forchoosing AMP Mortgage for your home-buying needs. It is an honor to haveyour trust in our team, and we are committed to providing you withexceptional service throughout the entire process.Our team is dedicated to exceeding your expectations by ensuring that allof your real estate needs are met with the utmost care and attention todetail. As a testament to our commitment to customer satisfaction, wehave put together this guide to help make the process as convenient andstress-free as possible.Please know that we will be in constant contact with you every step of theway. We understand that every customer is unique, and we will adjust ourservice to fit your individual wants and needs. Your complete satisfaction isour top priority.Thank you again for choosing AMP Mortgage. We look forward to helpingyou achieve your homeownership goals and providing you with amemorable experience.Owner and CEO

Anthony Wheeler678.702.4994awheeler@ampmortgage.comTHE STORYHello, my name is Anthony Wheeler, and I am the ownerof AMP Mortgage, a mortgage brokerage with over 7years of experience in the industry. Over the years, myteam and I have helped hundreds of individuals andfamilies achieve their dreams of owning a home, and wepride ourselves on delivering exceptional service andsupport to all of our clients.As the owner of AMP Mortgage, I oversee all aspects ofthe business, from managing day-to-day operations tobuilding and maintaining relationships with real estatepartners and lending institutions. I have a deepunderstanding of the lending process, including loanorigination, underwriting, processing, and closing, and Iuse this knowledge to ensure that every transaction isprocessed efficiently and accurately.One of the things that set AMP Mortgage apart fromother mortgage companies is our commitment totransparency and honesty. We believe in providing ourclients with all of the information they need to makeinformed decisions about their finances, and we arealways upfront about the costs and risks associated withany loan.Another key strength of AMP Mortgage is our focus oncustomer service. We know that the mortgage processcan be stressful and overwhelming, so we work hard tomake the experience as smooth and painless as possible.Our team is available to answer questions, addressconcerns, and provide guidance every step of the way.Our goal is to help our clients achieve their financialgoals and secure the homes of their dreams. Whetheryou're a first-time homebuyer or a seasoned investor, wehave the expertise and experience to help you navigatethe complex world of mortgage lending. If you're lookingfor a mortgage company you can trust, look no furtherthan AMP Mortgage.

Realtor Name123-456-7890Realtor@Realtor.comTHE REALTORWith over 7 years of seasoned experience, our realestate expert has seamlessly woven themselvesinto the narratives of over 100 individualsnavigating the twists and turns of their mostsignificant financial investments.Known for their negotiation prowess andunwavering commitment to transparency, they areyour go-to connection in the real estate realm.Their extensive network ensures that they can linkyou with any service you may require, whether it'sunderstanding the local market or unraveling thecomplexities of the mortgage process.A multitasking maestro and natural leader, theydon't just get things done; they manage them withfinesse. From mastering pricing strategies toexecuting impactful marketing maneuvers, they areyour real estate ninja. Formerly leading key realestate organizations and named the YoungProfessional of the Year in 2022, they pay itforward by actively volunteering in the community,believing that making a difference starts withhands-on involvement and individual contributions.Beyond the professional hustle, our expert bringshumor, an outgoing vibe, and a steadfastcommitment to doing things the right way. Notmerely a realtor, they've been knee-deep in majorrenovations across multiple properties, givingthem an insider's perspective on the nitty-gritty ofhomes.In a nutshell, they're not your average realtor –they're your real estate ally. Your keys, theirexpertise. Ready to turn your dream home into areality!

The process ofgetting a mortgageA Brief, Step-by-Step OverviewPre-Approval: You start the mortgage process by getting pre-approved for a mortgage. This involvesproviding your lender with financial information such as your income, employment history, credit score, anddebt-to-income ratio. The lender will then evaluate this information to determine how much you canborrow.1.Verification of Employment (VOE): This is a crucial part of the underwriting process where the lenderverifies your employment history and income. The lender will contact your employer to confirm your currentemployment status, job title, and income.2.House Hunting: Once you have been pre-approved, you can start looking for homes within your pricerange.3.Offer and Contract: Once you find a home you want to purchase, make an offer to the seller. If the selleraccepts your offer, you will enter into a sales contract that outlines the terms of the sale.4.Processing: Once you have a contract, your lender will begin processing your mortgage application. Duringthis stage, the lender will review your application and verify the information you provided. They will alsoorder a credit report, property appraisal, and other documents required for the underwriting process.5.Home Inspection: You may also want to schedule a home inspection to ensure that the property is in goodcondition and there are no major issues that need to be addressed.6.Underwriting: This is the stage where the lender will assess your loan application in detail. The underwriterwill review your credit history, employment history, income, debts, assets, and the property's appraisalreport. They will then decide whether to approve or deny your loan application. If your application isapproved, you will receive conditional approval, which means you need to satisfy certain conditions beforethe loan can be finalized.7.Appraisal: Your lender will require an appraisal of the property to ensure that it is worth the amount you areborrowing.8.Clear to Close: This is the stage where you will receive final approval from the lender to close on your loan.The underwriter will review your application and all the necessary documentation to ensure that allconditions have been met. Once the underwriter determines that everything is in order, they will issue a"clear to close" (CTC) which means that you are approved for the loan and can proceed to closing.9.Closing: The final step in the mortgage process is closing. During this stage, you will sign all the necessarypaperwork to finalize the loan. This includes the mortgage note, deed of trust, and other loan documents.You will also pay closing costs, which include fees for loan origination, appraisal, title insurance, and otherexpenses related to the sale. Once all the paperwork is signed, the loan will be funded, and you will becomea homeowner.10.

Pre-Qualification is an informal you "might qualify for",non-committal determination by the lender or mortgagebroker.Pre-Approval is a formal determination in writing, subjectto collecting all needed documentation, on a loan amountup to a specified amount from the lender or mortgagebroker. You will receive a letter of pre-approval, whichgives you more negotiating power and leverage over abuyer that is not pre-approved i.e. offer subject tofinancing. Some sellers will seek proof of funds and thisletter may suffice. Additionally, you have a price range towork in and can eliminate the guess work and wastingtime.ResearchFind out if you qualify for a special loan, such as aVA, FHA, or HUD home buying program.Request quotes from multiple lenders andcomparison shop for loans. Get preapproved for a mortgage and receiveyour letterPre-Qualification VS Pre-ApprovalBuying Your New Home

Buying Your New HomeMortgage BasicsAlthough each individual home financing package has its own variety offeatures, the concept of a mortgage is really quite simple: a mortgage isa loan to help you finance a home. Your lender advances you a certainamount of money, which you repay over a specified period of time.Rates, Points and Loan FeesThe total cost of your mortgage is determined by a number ofdifferent factors, most notably the interest rate, discount pointsand loan fees. The expenses that contribute to the cost of yourloan can be expressed as the annual percentage rate (APR).Interest Rate refers to the percentage of your outstanding loanbalance that you pay the lender each month as part of the cost ofborrowing money. Your interest rate will be based on the currentoverall rate environment, as well as your financial profile and thespecific features of your loan.Discount Points allow you to “buy down” your interest rate atclosing. One point equals 1% of your loan amount. The morepoints you pay, the lower your interest rate will be and the less youwill have to pay each month.Loan Fees are up-front charges to cover the cost of originating,processing and closing your loan, among other things. Anorigination point is a loan fee that equals 1% of your loanamount.When considering a loan, keep in mind that rates, pointsand fees should be considered together. The interest rate aloneonly tells part of the story. Monthly Mortgage PaymentA mortgage is a loan that you take out to purchase a home.Unlike other types of loans, which are usually for a fixed amountand a fixed term, mortgages are typically larger and have longerterms - often 15 or 30 years.When you take out a mortgage, you'll need to make regularpayments to your lender in order to pay back the loan. Thesepayments will typically include both the principal (the amountof money you borrowed) and the interest (the cost ofborrowing the money).Mortgages are secured loans, which means that they're backedby the value of your home. If you're unable to make yourmortgage payments, your lender may be able to seize yourhome and sell it in order to recoup their losses.When you apply for a mortgage, your lender will considerseveral factors, including your credit score, your income andemployment history, and the amount of your down payment.The interest rate you're offered will depend on these factors aswell as the current market conditions.Overall, a mortgage is a significant financial commitment, butit's also an important step toward homeownership. If you'reconsidering buying a home, it's important to research youroptions carefully and make sure that you can afford the monthlypayments.

When you take out a mortgage to buy a home, you'll make regular payments to your lender overthe course of several years. These payments will typically include several different components,including:Principal: This is the amount of money you borrowed to purchase your home.1.Interest: This is the cost of borrowing the money from your lender. Your interest rate willdepend on several factors, including your credit score, the size of your down payment, and thecurrent market conditions.2.Taxes: In most cases, you'll be required to pay property taxes to your local government. Thesetaxes are usually based on the value of your home and the land it sits on.3.Insurance: You'll also need to pay for homeowner's insurance, which will protect your homeand your belongings in the event of damage or theft.4.Together, these components make up your total mortgage payment. It's important to note that your monthly payment mayalso include additional fees and charges, such as mortgage insurance or homeowner association fees. Be sure to ask yourlender about all of the costs associated with your mortgage so you can budget accordingly.Buying Your New HomeMortgage CalculatorCalculating your mortgage payment can be a bit complex, butfortunately, there are many online tools available to help you do it. Amortgage calculator is a simple tool that can help you estimate yourmonthly payments based on the size of your loan, your interest rate,and other factors.To use a mortgage calculator, simply enter the relevant informationinto the fields provided. You'll typically need to input your loanamount, interest rate, and loan term (the number of years you'll bepaying off the loan). You may also be able to adjust other factors,such as your down payment or property taxes.Once you've entered all of your information, the mortgage calculatorwill generate an estimate of your monthly payment. Keep in mindthat this is just an estimate, and your actual payment may be slightlydifferent depending on your specific circumstances.Mortgage CalculatorMortgage Payment: The Breakdown

COMMITMENT LETTER:A formal offer by a lender stating the termsunder which it agrees to loan money to a home buyer.CONVENTIONAL LOAN:A mortgage not obtained under agovernment insured program (such as FHA or VA).DEBT-TO-INCOME RATIO:A formula lenders use to determine theloan amount for which you may qualify. Also known as “back-end ratio.”Guidelines may vary depending on the loan program.DEED:The legal document conveying title to a real property.Due Diligence: Reasonable steps taken by a person in order to satisfy alegal requirement, especially in buying or selling something.ESCROW:An item of value, money or documents, deposited with athird party, to be delivered upon the fulfillment of a condition. Forexample, the deposit by a borrower with the lender of funds to paytaxes and insurance premiums when they become due, or the depositof funds or documents with an attorney or escrow agent to bedispersed upon the closing of a sale of real estate. In some parts of thecountry, escrows of taxes and insurance premiums are called impoundsor reserves.FIXED-RATE MORTGAGE:A mortgage which the interest rate andpayments remain the same for the life of the loan.FLOAT THE RATE:This term is used when a mortgage applicantchooses not to secure a rate lock, but instead allows the rate pricing tofluctuate until the applicant decides to lock in, usually no later than fivedays prior to closing.FRONT-END RATIO:Also known as the housing expense- to-incomeratio, it compares your proposed monthly home payment (PITI) to yourhousehold gross monthly income.GOOD FAITH ESTIMATE:A document which tells borrowers theapproximate cost they will pay at or before settlement, based oncommon practice in the locality. Under requirements of the Real EstateSettlement Procedures Act (RESPA), the mortgage banker or themortgage broker, if any must deliver the GFE to the applicant.ADJUSTABLE-RATE MORTGAGE (ARM):A mortgage in which theinterest rate is adjusted periodically according to a pre-selected index. ALTERNATIVE FINANCING: A home financing program thataccommodates borrowers with special qualifying factors, includingunique employment, income or credit issues.ANNUAL PERCENTAGE RATE (APR):A yearly percentage rate thatexpresses the total finance charge on a loan over its entire term. TheAPR includes the interest rate, fees, points and mortgage insurance,and is therefore a more complete measure of the loan’s cost than theinterest rate alone. The loan’s interest rate, not its APR, is used tocalculate the monthly principal and interest payment.APPRAISAL:A report made by a qualified person setting forth andopinion or estimate of property value. The term also applies to theprocess by which this estimate is obtained.BRIDGE LOAN:A form of second deed of trust or mortgage that iscollateralized by the borrower’s present home (which is usually forsale) in a manner that allows the proceeds to be used for closing on anew home before the present home is sold.CLOSING:The consummation of a real estate transaction. The closingincludes the delivery of a deed, financial adjustments, the signing ofnotes and the disbursement of funds necessary to complete the saleand loan transaction.CLOSING COSTS:The costs paid by the mortgage borrower (andsometimes the seller) in addition to the purchase price of theproperty. These include the origination fee, discount points, appraisal,credit report, title insurance, attorney’s fees, survey and prepaid itemssuch as tax and insurance escrow payments.CMA: The best method available to learn their home's current value sothey can select the best sale price is aCMA, or Comparative MarketAnalysis.CMAis the termreal estateagents use when they conduct anin-depth analysis of a home's worth in today's market.Buying your new HomeGLOSSARYOF HOME BUYING TERM

Buying your new HomeGLOSSARYOF HOME BUYING TERMGOVERNMENT LOAN:A mortgage insured by a government agency,such as FHA, VA, and USDA.HOME MORTGAGE CONSULTANT:The AMP Mortgagerepresentative to a home buyer sometimes called a loan officer,Mortgage Broker or Mortgage Banker.HOMEOWNERS INSURANCE/ HAZARD INSURANCE: A real estateinsurance policy required of the buyer protecting the property againstloss caused by fire, some natural causes, vandalism, etc. Thehomeowners insurance policy may also include added coverage suchas personal liability and theft away from the home.HUD-1 SETTLEMENT STATEMENT: A standard form used to disclosecosts at closing.INDEX:A published interest rate, such as the prime rate, LIBOR, T-Billrate, or the 11th District COFI. Lenders use indexes to establishinterest rates charged on mortgages or to compare investmentreturns. On ARMs, a predetermined margin is added to the index tocompute the interest rate adjustment.INTEREST RATE:The percentage of an amount of money which ispaid for a specific time.INTERIM INTEREST:The interest that accrues, on a per- diem basis,from the day of closing until the end of the month.LEVERAGE:Using credit or borrowed money to increase the rate ofreturn for an investment. For example, by purchasing a $100,000 witha 10% down payment, you are using just $10,000 to control theinvestment.LIEN:A legal claim or attachment against property as security forpayment of an obligation.LOAN CONDITIONS:These are the terms under which the lenderagrees to make the loan. They include the interest rate, length of loanagreement, and any requirements the borrower must meet prior toclosing.LOAN PAYMENT RESERVES:A requirement of many loan programsthat, in addition to funds for the down payment and other purchase-related costs, you have saved enough money to cover one or twomonths of mortgage payments after your closing. Reserverequirements for loan programs may vary.LOAN SETTLEMENT:The conclusion of the mortgage transaction.This includes the delivery of a deed, the signing of notes, and thedisbursement of funds necessary to the mortgage loan transaction.LOAN-TO-VALUE (LTV):The ratio between the amount of a givenmortgage loan and the lower sales price or appraised value.MARGIN:The set percentage the lender adds to the index rate todetermine the interest rate of an ARM.MORTGAGE:The conveyance of an interest in real property given assecurity for the payment of a loan.MORTGAGOR:The borrower in a mortgage transaction who pledgesproperty as security for a debt.MORTGAGE PROCESSOR:The AMP Mortgage employee responsiblefor collecting the completed application with all supportingdocuments before the entire loan packet is submitted tounderwriting.

ANTHONYWHEELER678-702-4994Awheeler@AMPmortgage.comCEO & OWNERwww.AMPmortgage.com