Mortgage Mike Helps
Season 1
by Mike Riley
Mortgage Mike Helps | Getting My Buyer Preapproved - THE PROCESS Link to YouTube Video Episode: https://youtu.be/rV_UuQW2Gzo BEFORE you buy a house you must get qualified but BEFORE you search for a house you need a Pre-Qualification so that you are Pre-Qualified. You can't even think of putting an offer on a house in unless you have some sense that you can: 1. Finance it, and 2. Afford it The Pre-Qual process (short for Pre-Qualification Process) is the path to knowing what you need to know to be able to shop confidently and honestly. Mike Riley distills this for you so you can ask the right questions of your mortgage broker. Mike's here in Florida for you if you're searching anywhere here. If not, a qualified broker (ask for references if you don't know him or her) will be able to guide you well. For more expert mortgage tips, visit mortgagemikehelps.com Subscribe for the latest videos from Mortgage Mike Helps on Youtube @rileyteammortgageloans 0:00 – Intro: Meet Mike Riley 0:08 – How Pre-Qualification Works 0:23 – Understanding Gross Monthly Income 0:52 – Mortgage Qualification Based on Debt Ratio 1:19 – What Counts Toward Debt 1:59 – Credit Cards: It's About the Minimum Payment 2:13 – A Realistic Scenario Breakdown 2:30 – The Quick Formula for Buyers 2:46 – Wrap-Up: Use This as a Rule of Thumb #mortgageprequalification #howtogetprequalified #mortgagetips2025 #homeloancalculator #buyingahomeOrlando #mortgageprocess #firsttimehomebuyer #loanofficeradvice #softcreditpull #buyinghomesinflorida #buyinghomesincentralflorida #mortgageOrlando #mortgagehelpOrlando #mortgagehelpFlorida #mortgageassistanceFlorida
Mortgage Mike Helps | What Will My Buyer's Mortgage Payment Be? Link to YouTube Video Episode: https://youtu.be/9TOvWeVm_Wk Figuring out your mortgage payment is EASY for a good mortgage broker. Understanding what goes into it is important. Mike Riley - Mortgage Loan officer, does just that in this episode. If you're ANYWHERE in the USA this math is going to be relevant but if you're in Florida - like Mike Riley is in Central Florida's Orlando Market - you're definitely doing the math like this. Mortgage Math is easy to learn with Mike Riley helping you out. For more expert mortgage tips, visit mortgagemikehelps.com Subscribe for the latest videos from Mortgage Mike Helps on YouTube @rileyteammortgageloans 00:00 - Intro: Mike Riley, Loan Originator 00:11 - Why You Should Know the Payment Before Making an Offer 00:25 - Components of a Monthly Mortgage Payment 00:33 - Principal & Interest Explained 01:19 - Quick Estimation Formula: $6 per $1,000 Borrowed 01:53 - The Mistake of Trusting Online Calculators 02:13 - Property Taxes & How They Can Change 03:07 - Homeowner's Insurance Factors 03:46 - What PMI Is & Why You Pay It 04:17 - Total Estimated Monthly Payment on $400K Loan 04:36 - Don't Forget About HOA Dues 04:50 - Call Mike Before Making an Offer #realestate #howtopayforclosingcosts #firsttimehomebuyer #mortgagedownpayment #downpayment #downpaymentplanning #howtobuyahome #buyinghomesinflorida #buyinghomesincentralflorida #mortgageOrlando #mortgagehelpOrlando #mortgagehelpFlorida #mortgageassistanceFlorida
Mortgage Mike Helps | How Much Money Will My Buyer Need at Closing? Link to YouTube Video Episode: https://youtu.be/IHFbslUCPQY Confused about how much money you need at closing for your mortgage? In this video, Mike Riley breaks down the numbers and explains closing costs for mortgages. There's a ton more than just a percentage down. There's actually 4 major categories so here we go... Give mike 7 Minutes and you'll have the scoop. For more expert mortgage tips, visit mortgagemikehelps.com Subscribe for the latest videos from Mortgage Mike Helps on Youtube @rileyteammortgageloans 00:00 – Introduction 00:46 – Down Payment ≠ Total Money Needed 01:05 – 3 Categories of Money Needed at Closing 01:10 – Down Payment Breakdown 02:10 – What Are Closing Costs 02:52 – Paying Points to Lower Your Rate 03:17 – Prepaids and Escrows Explained 04:36 – How Prepaids & Escrows Can Vary 05:20 – Sample Buyer Scenarios 05:46 – Credits to Offset Costs 06:41 – Putting It All Together: Sample Calculation 06:57 – The Most Important Reminder 07:03 – Final Advice: Call Before Making an Offer #realestate #howtopayforclosingcosts #firsttimehomebuyer #mortgagedownpayment #downpayment #downpaymentplanning #howtobuyahome #buyinghomesinflorida #buyinghomesincentralflorida #mortgageOrlando #mortgagehelpOrlando #mortgagehelpFlorida #mortgageassistanceFlorida