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On behalf of Expert Village, this is Dan Kelly with Keller Williams Realty here in Miami
Shores, Florida. I'm with the Kelly White Team, and today we're going to tell you how
to buy a house. How do you get a loan? Well, there's many different ways to get a loan.
You can ask your parents. No, I'm only kidding. You go to a bank. If you go to a bank, you
go to a mortgage bank, you go the bank where you do your banking. You meet with the loan
officer. The loan officer asks you all sorts of personal questions and you sit there. He
pulls out his laptop and he punches everything in and he says, oh you didn't pay a credit
card back in 1993, so your credit score dips 10 %. He finds all sorts of things about yourself
then the loan officer finds out how much you are allowed to be loaned by the bank and it's
his decision is the underwriter and the officers. It's basically a numbers game too. So they
run the numbers; they find out how much they're able to give you as a loan and that's how
you get a loan. It's a question of finding a great mortgage company or a bank that you're
comfortable with. Ask around. Usually your realtor can help you find a great mortgage
company.