If the agent is diligent about your having all the proper paper work in place is most likely someone who is on top of things and will be very informed when it comes to details.

I also make a detailed list of everything that needs to be done and place a price next to it.

I read on Fannie Mae that to qualify you either need to be a big shot company with $5M in assets or a qualified investor ($200K/yr income for past two years or $1M net worth not including your primary residence).I may have read this wrong but it seems to me you cannot even find out the details of the program (such as the discount) until you are qualified and you cannot qualify unless you a rich.

Feel free to ask for any additional details.

There are so many components that go into these calculations that the "devil is always in the detail".

See also this government sponsored entity document for details... page 216 under 'Limits on the Number of Financed Properties'.

The rest of the details are relevant, rate, term, balloon.....You're off to a good start.

1) ALWAYS get a detailed application. 2) Ask for references - landlord, personal and work related 3) Have THEM provide a current credit report - in my state that is legal - this way you create at least a "semi weeding-out" process right there.

Give them a detailed packet on why the price is justified (comps, pictures of comps, map of comps, etc).

I know there's tons of info on the boards, but if I grab a few details here and there, I'm afraid I'd miss something important.