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. The buyer is unable to sell their house.

Closing 62

Closing Title search Purchase and sale agreement Title 62

HomeLight

JULY 29, 2022

This can radically alter their debt-to-income ratio and jeopardize the whole deal. First, when deciding to purchase a home, you’ll naturally try to make sure you’re at a stable point in your career. Problem: You have a home sale contingency — and your house hasn’t sold. Problem: You lost your job.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

MARCH 31, 2023

“There’s actually a lot of companies now that do this — and they’re growing by the day — that are willing to lend you the money knowing that you’re going to be selling your home and they’ll be able to get paid in full in a reasonably short amount of time,” Ruiz shares.

Loans 74

Loans Debt-to-income ratio Equity Finance 74

HomeLight

MARCH 31, 2023

They typically require that your existing home be listed on the market, and will offer this bridge loan for a maximum of six months to one full year. Depending on your unique situation, the lender on the new home might need to calculate your debt-to-income ratio (DTI).

Equity 81

Equity Loans Debt-to-income ratio Finance 81