Can Creditors Collect Information Beyond The 6 Required Pieces? In addition to the required pieces – Name Income Social Security Number Property Address Estimated Property Value and Mortgage Amount sought – a creditor may collect whatever additional information they deem necessary. However, as soon as you have provided the 6 required pieces, the creditor has 3 business days to provide a Loan Estimate for approved loans.
What 6 Pieces of Information Make A TRID Loan Application? Submitting these 6 pieces of information – Name Income Social Security Number Property Address Estimated Value of Property and Mortgage Loan Amount sought – constitutes a valid loan application under the TRID rule. You may apply and submit these in writing OR in oral form; a live conversation, or a phone call, backed by a written record of the conversation is a legitimate application. Once these 6 pieces of information are submitted a creditor MUST supply a Loan Estimate for approved loans within 3 business days.
Last week I was having a conversation with a friend, and she asked me a question I get often—Why do you call yourself the neighborhood realtor?
It comes down to one simple reason—I would never put you somewhere I wouldn’t live. And when I’m making a decision about where to live, I’m taking years of experience into account and taking zero risk. The surroundings of your new home, your future neighborhood, can be just as important as the house itself. And if I’m going to help you find a house, or buy one for myself, I’m thinking about the following things:
- The neighbors and the block around the corner
- The school district
- The reason cited for the current home owner’s decision to sell
- Other homes up for sale in the area
- Predicted increase or decrease in property value
If you run every morning, I’m going to take a walk around the block to make sure you’ll feel safe beyond your street. If you have kids, I know that you’re looking to put their education first—and in Miami, location is everything. If you’re an investor, I’m going to make sure that your real estate investment is based on proprietary market insight and research. And if you work in another part of town, I’m going to have a good estimate on what your commute will look like every morning and what upcoming construction could affect that.
I know the questions to ask, so that you don’t have too, and in fact, I have customers for this very reason in my own neighborhood of Silver Bluff.
As a 26-year-old arriving to the United States, I worked hard to have a piece of the “American dream” and one of the biggest parts of that dream is home ownership. Home ownership isn’t something I take lightly, as I know the work it takes to get to that point, and it is no coincidence that I got into the business of helping people find homes. Whether you are looking to find your first home or make a move into a much bigger one, I’m ready to be part of your process start to finish, in English or Spanish, night or day.
A proud Venezuelan born to Arabic parents, my time in the US was not my first exposure to hard work or a dream for better opportunity. My parents owned a store where I spent my summer vacations, and I shared my parents’ love for working with people and their strong work ethic—something I incorporate into my work every day, and something I’m looking forward to sharing more and more with you on this blog.
Moving forward, I’d like to share more of my insight on neighborhoods in and around Miami, quick tips for how to move a house faster, ideas for a less painful move or open house prep and of course, a few must-see listings. My goal is to help you, even if we aren’t in direct contact, and I’d love to hear from you with any questions.