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timestamped/2026-04-08_11-53-07.md

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+---
+id: 2026-04-08T11:53:07-04:00
+aliases: []
+title: 2026-04-08 11:53:07
+tags:
+  - authorship/original
+  - destiny/permanent
+  - status/draft
+  - type/periodic/timestamped
+dg-publish: true
+date-created: 2026-04-08T11:53:07-04:00
+daily: "[[2026-04-08]]"
+weekly: "[[2026-W15]]"
+monthly: "[[2026-04]]"
+quarterly: "[[2026-Q2]]"
+yearly: "[[2026]]"
+---
+# 2026-04-08 11:53:07
+
+## NFM Lending Lunch & Learn
+
+"The Cost of Waiting: Building Wealth through Homeownership"
+
+NFM Lending,
+"The Jane Floyd Team"
+
+### NFM Lending Power Design Incentive
+
+\$2,000 credit to closing cost
+
+Good year for buying?
+
+### Components of Preapproval
+
+* Credit
+* Income
+* Assets
+
+#### Credit
+
+> [!info] Credit Bureaus
+> * Experian
+> * Equifax
+> * Transunion
+
+Minimum 580 for FHA, VA
+
+Minimum 620 for conventional
+(assumes a large down payment)
+
+> [!info] Score Drivers
+> * Pay history
+> * Credit utilization
+> * Past Derogatories
+
+#### Income
+
+Bonus, commission, overtime
+2-year history with letter from employer
+stating likely to continue
+
+#### Assets
+
+##### Traditional
+
+Savings
+
+401k personal loans
+
+Gift funds - documentation required
+sent directly to title company
+
+##### Sourcing and Seasoning
+
+Bank deposits
+cash is never an option
+deposits need to be sourced (documented)
+large undocumented deposits need to be seasoned for two months
+
+### Assistance Programs
+
+* 1st time home buyer programs: Statewide, county
+
+### Personal Family Budget
+
+* Nerd Wallet
+* WalletHub
+
+### Rent vs. Own
+
+Mortgage Coach
+
+### Cost of Waiting
+
+If interest rates decrease
+payment decreases marginally,
+but you lose out on equity
+
+better to buy now and refinance when rates decrease.
+
+> 1% rate decrease $\approx$ \$10,000 value appreciation
+
+### "Escrow"
+
+Escrow account with title company
+"opening escrow"
+
+separate from escrow account with lender for taxes, insurance, etc.