Leah Bigcas
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Activity overview
Latest activity by Leah Bigcas-
Leah Bigcas created an article,
HELOC Closings with Multiple Borrwers/Signers
During the HELOC application process, any co-borrowers and NPEs (vesting only or all persons on a Trust) will be added and communication will be sent to them individually. Each person must have the...
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Leah Bigcas created an article,
Notary Closing - In-Person vs. eNotary
In compliance with federal and state requirements, you will either have a mobile notary session or an eNotary session. In-Person Notary – if your state or county does not allow for an eNotary sess...
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Leah Bigcas created an article,
Different Types of Loan Disclosures
Loan disclosures are the legal documents that you'll be asked to sign throughout the process. You will have three sets of disclosures: Broker Disclosures: When invited by a broker, the borrower wi...
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Leah Bigcas created an article,
Out of Pocket Expenses
Generally, there are no out-of-pocket expenses if the loan amount is under $350,000 and your AVM is successful. All fees and closing costs are netted against loan proceeds at settlement. This simp...
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Leah Bigcas created an article,
Fees and Closing Costs
The borrower will pay the 2.99% origination fee* and approximately $300 in additional fees and closing costs. The origination fees and closing costs will be rolled into the total HELOC amount. ...
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Leah Bigcas created an article,
Minimum Property Value
The borrower's home must be worth $100,000+ to qualify for a loan.
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Leah Bigcas created an article,
How the Equity is Calculated for the Property
The CLTV or Combined Loan to Value of the property is calculated three (3) times during the application process. Prequalification MLO Input Prequalification API Verification Approval Equity is ca...
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Leah Bigcas created an article,
HELOC Closing Dates - Tentative vs. Finalized
At the beginning of the application process, the system will request a tentative closing date. This date is not finalized until the entire application process is completed. The borrower should log ...
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Leah Bigcas created an article,
Home Equity Loan (HELOAN) vs. Home Equity Line of Credit (HELOC)
HELOAN / Closed End Second The NFTYDoor HELOAN / Closed End second is a 25 yr fixed rate loan. This loan is fully funded at time of closing and payments are fully amortized on a 300-month payment s...
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Leah Bigcas created an article,
Where does NFTYDoor Operate?
As of 7/2023 NFTYDoor is live in all states. Some states have guidelines that differ from our standard process. IE: Texas is a 12 day process and only supports Primary Homes. Some states require a ...