Realty Biz

AUGUST 21, 2023

When your mortgage pre-approval expires, it can impact your home-buying process. A pre-approval is crucial in determining your loan eligibility and understanding your purchasing power. A mortgage pre-approval is typically good for 60-90 days , so it is crucial to remember this time frame.

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Pre-approval Mortgages Loan Officer Loans 75

Housing Wire

JANUARY 31, 2023

Even if I write seven pre-approvals a day, when there is one house and there’s 20 people that want to buy the same house, we still can’t do a lot of deals,” Marquis said. I know that sounds crazy, but we have a lot of clients reaching out for pre-approvals. That’s our biggest issue in Boston.”

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Loans Pre-approval Closing Marketing 315

Housing Wire

APRIL 4, 2022

Bay Equity CEO Brett McGovern also touted the benefits of the acquisition, saying, “Being a part of Redfin will help us meet customers more efficiently, which means we can give Redfin homebuyers competitive rates while delivering a seamless experience from pre-approval to close.”. The purchase price “represents a $72.5

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Closing Mortgages Loan Officer Pre-approval 363

HomeLight

OCTOBER 27, 2020

Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Marcus Rittman, director of mortgage operations at HomeLight Home Loans, has seen that “the catalyst for most homeowners wanting to get approved for a mortgage is finding a home that they love.” Don’t let that be you!

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Pre-approval Due diligence Loans Bankruptcy 104

Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

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Pre-approval Debt-to-income ratio Mortgages Marketing 94

Windemere Buying

FEBRUARY 24, 2021

To set yourself up for a smooth and successful home purchase , getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process. Pre-approval The pre-approval process is more involved than pre-qualification.

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Pre-approval Pre-qualification Banks Loans 52

Housing Wire

AUGUST 24, 2022

Tomo says its appraisal coverage product protects home buyers from having to bring more cash to the close when appraisals come in low, with the same APR, cash-to-close and monthly payment guaranteed. In addition, homebuyers must be occupying the home as a primary residence, and therefore it is not available on multi-family properties.

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Pre-approval Mortgages Closing Loans 379

Windemere Buying

JUNE 7, 2021

Getting pre-approved is a great first step for buyers, but there can be a number of hurdles in the process. Pre-approval is broken down into two steps: pre-qualification and pre-approval. Large cash purchases decrease a buyer’s cash-readiness from the time when they were pre-approved.

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Pre-approval Debt-to-income ratio Pre-qualification Loans 52

RIS Media

MARCH 25, 2021

If you’re just starting out with the home-buying process, you may want to get a mortgage pre-approval. This is a statement from a lender that informs you of a certain amount you are qualified to borrow, as well as a specific pre-approved interest rate. Speed Up the Closing Process. Speed Up the Closing Process.

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Pre-approval Mortgages Inspection Finance 53

CT Homes

APRIL 4, 2024

One of the pivotal moments in this journey is the closing process—the final lap in the race to your new home. But just how long does it take to close on a house , especially in a state as diverse as California? What Does Closing On A House Mean? Once an offer is made and accepted, the closing process formally begins.

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Closing Pre-approval Inspection VA loan 55

Housing Wire

FEBRUARY 4, 2021

Get pre-approved before beginning your home search. Get pre-approved before beginning your home search. A mortgage pre-approval is non-negotiable in this environment. Waiving a contingency or two can also help, as can a larger earnest money deposit or being flexible with your closing date. .

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Earnest money deposit Pre-approval Marketing New Construction 546

Housing Wire

JUNE 20, 2023

Originators will use Figure’s online pre-application process to pre-qualify their customers, which then feeds directly to a digital fulfillment system supported by Figure. Approval may be granted in five minutes but is ultimately subject to verification of income and employment.

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Lending Technology Pre-approval Equity 304

Maximum Exposure Real Estate

JULY 18, 2022

As closing day approaches the suspense can be stressful. You’ve already gone through the hard part of getting pre-approved, making an […]. The post House Long Does a Closing Take on a House? The post House Long Does a Closing Take on a House? Buying a house for the first time is filled with excitement.

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Closing Pre-approval As-is 101

Housing Wire

APRIL 13, 2023

From pre-closing through post-closing, ICE Mortgage Technology offers electronic services that save time and money compared to traditional methods of managing documents and communication. The solutions featured as part of Simplifile include eRecording, eSign Events, Collaboration and Post-Closing, and Document Builder.

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Technology Mortgages Pre-approval Closing 277

Housing Wire

DECEMBER 20, 2023

Your home for my pre-approved, highly motivated buyer clients who are looking only in 12 Trees and need at least 3 bedrooms. Flexible closing date!” ” Homework: Take a close look at your buyer clients. Are they out there knocking on doors, sending letters and going to new builds, FSBOs and open houses?

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MLS Pre-approval New Construction Construction 355

Housing Wire

JANUARY 20, 2021

Getting approved for a loan is only part of the battle. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. But the truth is, when lender’s pre-approve homebuyers, they don’t always take into account monthly payments. Buying a home?

Debt-to-income ratio 421

Debt-to-income ratio Pre-approval Mortgages Closing costs 421

Housing Wire

DECEMBER 22, 2020

Pre-approval. As long as you go through with the deal, the deposit will go toward your closing costs and down payment. They’re best if you plan to move before the rate can adjust or if you’re willing to refinance not long down the line. This is sometimes called “prequalification,” depending on your mortgage lender.

Fixed-rate mortgage 417

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 417

Housing Wire

JANUARY 26, 2022

increase in state licensing issues among closing agents versus the 2021 average. Closing complications. According to Suri, many of the fraud risk gaps exist in the closing process. And even as eClosings speed up processes, they can create vulnerabilities at closing for wire and title fraud. Additionally, Q4 2021 saw a 5.4%

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Industrial Pre-approval Title Technology 282

Housing Wire

AUGUST 4, 2022

Matrix also has agreed to begin using RoundPoint as a servicer prior to the deal’s closing date “and expects to begin transferring loans to RoundPoint in the fourth quarter of this year,” the Two Harbors announcement of the acquisition states. The deal with Matrix resulted in Roundpoint closing some sales operations and laying off employees.

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Mortgages Pre-approval Principal Loans 318

Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. What Is a Mortgage Pre-Approval? What Are Closing Costs? What Can I Afford?

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Pre-qualification Pre-approval Closing costs FHA loan 57

Housing Wire

FEBRUARY 23, 2023

QuickQual is an adjustable pre-approval letter that gives payment and closing cost scenarios and the option to update agent letters. Patrick O’Brien, the founder and CEO of LenderLogix , said the product was designed in response to the need for a more efficient and cost-effective method of managing the loan application process.

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Pre-approval Loans Closing costs Mortgages 266

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get Started 1.

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Pre-qualification Seller concession Pre-approval Closing costs 92

Housing Wire

FEBRUARY 21, 2023

Lenders who are modernizing across the entire scope of the origination journey — digitizing processes from application and title through close and post-close — are building unprecedented momentum for their businesses. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork.

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Pre-approval Technology Title Loans 296

Housing Wire

FEBRUARY 15, 2023

Steinway, who claims to have closed more than $1 billion of loan volume in his 24-year career, joined Revolution at the end of January, he said in an interview with HousingWire on Wednesday. Closing just shy of $100 million of production in 2022, he’s aiming for a higher loan origination volume in 2023.

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Mortgages Pre-approval Lending Loan Officer 330

Housing Wire

JUNE 6, 2023

Understanding the borrower Randy Kaufman, a senior loan originator at Notre Dame Federal Credit Union , offered his client the option to float his rate for a transaction that is set to close at the end of June. With rates around 6.9% The client requested a cost analysis to compare monthly payments on a mortgage at 7.5% versus a 6.5%

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Loan Officer Loans Seller concession Pre-approval 380

HomeLight

JANUARY 12, 2022

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Average time to close.

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Closing Purchase and sale agreement Pre-approval Inspection 111

Housing Wire

APRIL 4, 2022

Multiple LOs told HousingWire that they’ve had to cut pre-approvals for FHA borrowers by about 15% in response to the rise in interest rates. Mark Westcott, a loan officer at CrossCountry Mortgage , said that borrowers who were pre-qualified at 3.5% 85%) back to the pre-crisis level of.5%,” 5%,” said Chappelle.

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FHA loan Debt-to-income ratio Pre-approval VA loan 355

Realty Biz

SEPTEMBER 15, 2023

Guaranteed Rate, a fintech provider of mortgage lending and digital financial services, has announced its latest offering, 5 Minute Approval. The 5-minute pre-approval from Guaranteed Rate pertains to a computerized assessment of the loan documents provided by the borrower and the subsequent pre-approval.

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Loans Pre-approval Lending Technology 97

Housing Wire

FEBRUARY 9, 2022

and get a pre-approval for a mortgage from the comfort of your own laptop. Yet, there remains a dark cloud over the general perception of the part of the process that occurs somewhere between the signing of the sales agreement and the exchange of house keys — the mortgage approval and settlement/closing process.

Industrial 373

Industrial Purchase and sale agreement Pre-approval Banks 373

Realty Biz

JANUARY 15, 2024

However, you can minimize this risk by obtaining a second loan or securing a contingency clause in your purchase agreement that allows you to delay the closing until your current home sells. One of the most challenging aspects of real estate is buying and selling homes simultaneously. It's understandable as it is a stressful process.

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Pre-approval Purchase and sale agreement Finance Equity 105

Housing Wire

NOVEMBER 8, 2021

There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle. A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close.

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VA loan Agents Pre-approval Debt-to-income ratio 377

Housing Wire

FEBRUARY 1, 2021

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. Pre-Foreclosure Potential.

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Sales Pre-approval Short sale MLS 344

Housing Wire

JUNE 24, 2021

If a homebuyer can’t close on their mortgage in time to buy the home they want, instead of losing out on the house, Accept.inc will buy the property with its own funds and reserve the home on their behalf. ” The process requires a pre-approval that once passed allow buyers to submit an all-cash offer with Accept.inc’s proof-of-funds.

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Equity Proof of funds Pre-approval Investor 309

Housing Wire

OCTOBER 27, 2020

Many renters are looking to get out of cramped, close quarters amid social distancing efforts, and existing homeowners are moving on to bigger properties—often in more suburban areas where space isn’t a premium. As news of rising home prices spreads, more and more homeowners consider selling their properties. .

Pre-approval 500

Pre-approval Mortgages As-is Closing 500

RIS Media

MAY 19, 2021

Items to Be Paid at Close of Escrow. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty. It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. NMLS #297152 DRE #01522411.

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Closing costs Closing VA loan Pre-approval 107

Housing Wire

JANUARY 26, 2022

The digital mortgage lender advertises that it creates pre-approvals for its customer within hours, not days, charges no lender fees, and ensures on-time closings 100% of the time. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Refinancing is also not an option.

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Mortgages VA loan Pre-approval Lending 300

Housing Wire

MAY 16, 2022

Do they need a pre-closing investor review? We know what they’re looking for when we issue a pre-qual, and we stand behind that. As well, we do not have to seek third party approval to do a loan – we are the end investor. In 2022’s changing market, non-QM has been a hot topic for many. Of that volume, $6.2

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Investor Pre-approval Loans Lending 310