Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. For instance, processing non-QM loans manually can be prone to human error, cutting into the efficiency of a business.

Debt-to-income ratio 370

Debt-to-income ratio Lending Pre-qualification Loans 370

Housing Wire

AUGUST 31, 2020

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics. With AutomatIQ Borrower, CoreLogic recognized an opportunity to reverse these trends while also helping lenders improve their user experience. But we don’t.

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Pre-qualification Pre-approval Loan Officer Loans 216

Housing Wire

MAY 12, 2022

Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Rates are rising. Refinances are falling. We’re not cavepeople.

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Lending Marketing Pre-qualification Pre-approval 312

Housing Wire

OCTOBER 6, 2020

Over the past few years, we’ve applied virtually all of our solutions to the front end of the mortgage loan origination process. Part of the reason efficiencies from the emerging digital mortgage did not, and still have not, fully translated in the back-office is due to the trust that comes along with the wide-adoption of any new technology.

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Technology Mortgages Loan Officer Loans 441

Realtor.com

APRIL 29, 2021

Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A Plenty of loan programs accept far less. And PMI can be pricey, amounting to about 1% of your whole loan—or $1,000 per year per $100,000. of your loan—that’s quite a spread.

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Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

Redfin

AUGUST 13, 2020

Clearing your way to get approved for a home loan will ensure that you are ready to act when that dream home appears on the housing market. Most mortgage lenders advise starting the pre-approval process for a home loan 6 to 8 months ahead of when you expect to begin looking for a house. . Step 1: Know your credit score.

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Pre-approval Loans Pre-qualification Banks 71

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 59

Realty Biz

APRIL 24, 2021

A VA Loan Certificate of Eligibility is your proof of service, and it shows that you’re qualified to receive your VA loan benefits. This article will explain how it works when it is needed and how you can apply for this important document which essentially starts the VA Loan process. Your COE is given by the U.S.

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VA loan Loans Pre-qualification Loan Officer 109

Redfin

MARCH 18, 2022

Shopping for and securing an affordable mortgage loan is no easy feat. And in the end, that means a higher mortgage rate than they can afford or, worse, no loan at all. Do you want to make sure your mortgage loan comes through smoothly? Unfortunately, that’s easier said than done. That you get a great rate?

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Mortgages Pre-approval Pre-qualification Loans 66

HomeLight

OCTOBER 5, 2020

When a home is listed as a short sale, the lender forgives the remaining balance of the loan. You’ll need to get preapproved for a mortgage loan. ” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. It has everything you’ve ever wanted.

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Short sale Sales Pre-approval Pre-qualification 85

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Source: (Jeremy Yap / Unsplash). What is HUD? Johnson in 1965.

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Pre-approval Pre-qualification FHA loan Inspection 99

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

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Finance Debt-to-income ratio FHA loan Mortgages 97

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Note that for government-backed first-time home-buyer loans such as FHA or USDA, it’s not just the buyer that must qualify, but the home, too — so check the requirements for your specific mortgage.

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Loans VA loan FHA loan Purchase and sale agreement 101

HomeLight

MARCH 6, 2023

With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well.

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Closing Earnest money deposit Sales Title 94

HomeLight

AUGUST 31, 2022

While some lenders have customized loans for home renovation or other projects, the most common types of equity loans are cash-out refinance and second mortgages, which include a home equity loan or a home equity line of credit (HELOC). What qualifications do I have to meet to access my home’s equity? Get Estimate.

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Equity Finance Loans Closing costs 103

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. This Pacific Coast city combines the urban vibes of art and culture alongside fun physical activities like surfing or boating. Looking to Buy Your Dream Home in San Diego?

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Closing Earnest money deposit Sales Inspection 98

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. These are things you just might not know as a buyer — but your agent and loan officer can give you guidance!

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Mortgages Debt-to-income ratio Loans Closing costs 62