The Mortgage Lending Process in Philadelphia

Drexel University

3141 Chestnut Street

Philadelphia,Pennsylvania-19104

2 February
01:00PM
The Mortgage Lending Process in Philadelphia
Join A Healthier U and our partner the Franklin Mint Federal Credit Union for a workshop designed to help you prepare for homeownership. This workshop will provide participants with an understanding of the basic components of the mortgage lending process, how the condition of the economy impacts the mortgage market, Conventional vs. FHA loans, the importance of credit scoring and its impact on the cost of your mortgage. Participants will also learn about the mortgage pre-approval program, the Franklin Mint Federal Credit Union’s unique 3/2 ARM portfolio program, documentation requirements, acceptable sources of funds to close a loan and the benefits of a Franklin Mint Federal Credit Union (FMFCU) mortgage. To round out the workshop we introduce you to a member benefit – CU Realty. By the end of the seminar participants will understand: how economic conditions impact the Mortgage Market; the difference between conventional vs. FHA loans; the importance of your credit score; the different programs available to members; what documents and funds are needed for settlement; the advantages of an FMFCU mortgage. This event will be held on Zoom. The registration email sent by Career Pathway will contain the link to join. Registration in Career Pathway is required to attend. This event is open to all faculty and professional staff. For more information, please contact Monica Fauble, Wellness Administrator: mfauble@drexel.edu *Participants in our Wellness Incentive Program are eligible to earn 15 points (a $15 credit) for attending this event. You must sign-in to receive credit. You must register for the Health Advocate Wellness Incentive Program AND complete your annual Personal Health Profile before you will be eligible to receive any payouts. Points for attending these events will be sent to Health Advocate on a monthly basis for the prior month’s activities. There will be a 6-week delay in these points and payouts being distributed. For information about our wellness incentive program, please visit: http://drexel.edu/hr/benefits/a-healthier-u/wellness-incentive-program/ Please contact Wellness Administrator Monica Fauble with questions: mfauble@drexel.edu

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