Realty Biz
SEPTEMBER 5, 2023
Credit reports contain a comprehensive history of your financial activities, including your credit accounts, payment history, outstanding debts, and any negative information such as late payments or bankruptcies. Reduce Debt: Prioritizing debt reduction is crucial for improving your financial profile.
Realty Biz
AUGUST 20, 2023
It involves assessing your credit score, managing your debt-to-income ratio, gathering the necessary financial information and documents, and reviewing and improving your credit history. Managing Debt-to-Income Ratio Another crucial factor that lenders consider during the pre-approval process is your debt-to-income ratio (DTI).
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Housing Wire
NOVEMBER 10, 2020
“I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. “And damn if we didn’t close Friday and they shut it down Monday.”
Rent, Buy & Sell
FEBRUARY 7, 2021
Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. Borrowers must be able to show proof of employment and a steady income. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record. You will pay a VA funding fee when the deal closes.
Realty Biz
MARCH 16, 2023
This premium is paid at closing. The amount you will pay depends on the loan term you choose, either 15 or 30 years, the loan-to-value ratio, and the loan amount. The FHA limits the amount lenders can charge in closing costs, which can be paid by sellers or added to the loan amount. Will You Qualify for an FHA Home Loan?
Redfin
MARCH 3, 2022
Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?
Realty Biz
SEPTEMBER 30, 2023
In addition to credit scores, lenders also consider factors such as your income, employment history, savings, current debts, and the value of the home you intend to purchase. Demonstrating a stable income, sufficient savings, and a low debt-to-income ratio can strengthen your mortgage application, even with a low credit score.
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