Mortgage Tools for REALTORS

Quick Loan-to-Value Reference

3% Down Payment — 97% LTV
3.5% Down Payment — 96.5% LTV
5% Down Payment — 95% LTV
10% Down Payment — 90% LTV
15% Down Payment — 85% LTV
20% Down Payment — 80% LTV
25% Down Payment — 75% LTV

Mortgage Terms REALTORS Should Know

PITI — Principal, Interest, Taxes and Insurance
LTV — Loan-to-Value
DTI — Debt-to-Income
PMI — Private Mortgage Insurance
APR — Annual Percentage Rate
Loan Estimate — Disclosure showing estimated loan terms and costs
Closing Disclosure — Final disclosure of loan terms and closing costs
Rate Lock — Locks an interest rate for a specified period
Pre-Approval — Lender's preliminary evaluation of a buyer's ability to obtain financing
Clear to Close — The lender has completed required underwriting conditions and authorized the loan to proceed toward closing

Before Writing the Offer

Agent Financing Checklist

□ Confirm buyer has a current pre-approval or proof of funds
□ Verify the loan type
□ Confirm estimated down payment
□ Ask whether the property must meet specific loan requirements
□ Check financing contingency deadlines
□ Consider appraisal requirements
□ Verify whether seller concessions are being requested
□ Confirm lender can meet the proposed closing date
□ Make sure the lender has the executed contract promptly after acceptance
□ Track financing, appraisal and loan-commitment deadlines

Take Your Mortgage Knowledge Further

Mortgage Mastery for REALTORS®

A practical reference designed to help agents better understand mortgage terminology, loan programs, financing timelines, and the lending process.