Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. There were enough significant findings to make these loans unsalable. Covid challenges.

Lending 437

Lending Mortgages Due diligence Debt-to-income ratio 437

Realty Biz

DECEMBER 8, 2022

If you don't already know your credit score, your bank might offer a service to give you this number for free. Your debt-to-income ratio is an important consideration when lenders look at your finances. DTI is all of your debts divided by your gross income each month. Final Thoughts on Mortgage Preparation.

Loans 132

Loans Debt-to-income ratio Due diligence Title search 132

Point2Homes

DECEMBER 7, 2020

This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. Lenders will normally look at your debt-to-income ratio to determine whether you qualify for a loan. Making the Offer. In this case, having an attorney run a title search will be critical.

Debt-to-income ratio 118

Debt-to-income ratio Pre-approval Inspection Inspection contingency 118

Realty Biz

MARCH 16, 2023

Like any other mortgage program, ensure you take the time on due diligence vetting the lender. When you apply for an FHA-backed loan, you need to meet certain requirements: If your credit score is 580 and above, you will qualify for a 3.5% Staying in your comfort zone when you get a mortgage is a good idea.

FHA loan 89

FHA loan Loans Debt-to-income ratio Due diligence 89

HomeLight

JANUARY 27, 2021

They also require your bank statements , your pay stubs. They’re going to look at your debt-to-income ratio; they’re going to look at all of this stuff before offering you a loan. The lender is just doing their due diligence.”. Lenders don’t just ask to run your credit.

Agents 83

Agents Purchase and sale agreement Debt-to-income ratio Due diligence 83

Redfin

MARCH 3, 2022

Make sure you know in advance how you will be getting a bank check or wire transfer, so you’re able to close on time. Any changes in your debt-to-income ratio or credit score could cause issues with your loan application, which increases the chance of a delayed closing. How to remedy the situation.

Closing 62

Closing Title search Purchase and sale agreement Title 62

Realty Biz

OCTOBER 17, 2023

A co-signer is someone who essentially vouches for you with the bank. Co-signers should also do some basic due diligence before they commit their financial well-being to a co-signing situation. In that situation, you’ll need a mortgage co-signer.

Mortgages 84

Mortgages Debt-to-income ratio Due diligence Loans 84