Housing Wire

MARCH 23, 2021

Wherever there is commerce, there will be fraud, and the mortgage industry is no exception. 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.

Lending 429

Lending Mortgages Due diligence Debt-to-income ratio 429

Housing Wire

APRIL 27, 2022

Amid a challenging time for would-be homebuyers, FinLocker released an updated web experience that aims to make it easier for consumers to see their progress in qualifying for a mortgage loan. The upgraded product experience improves the transparency of mortgage eligibility guidelines, the firm said. The web v3.0 The web v3.0

Debt-to-income ratio 311

Debt-to-income ratio Mortgages Loans Banks 311

Keeping Current Matters

DECEMBER 21, 2020

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Below is a list of things you shouldn’t do after applying for a mortgage. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. Don’t Co-Sign Other Loans for Anyone.

Debt-to-income ratio 281

Debt-to-income ratio Mortgages Loan Officer Banks 281

Housing Wire

NOVEMBER 12, 2020

Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also helps you secure a lower interest rate, too — and that means a more affordable loan on the whole. If you spot any of these issues, you’ll want to rectify them before applying for your mortgage. Avoid new debt.

Debt-to-income ratio 496

Debt-to-income ratio Banks Loans Mortgages 496

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. They can go online and understand their FICO score, but mortgage credit scores are different. If an interest rate is too high, borrowers might look elsewhere.

Pre-qualification 441

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 441

Housing Wire

MAY 21, 2021

The Community Home Lenders Association can’t speak for other nonbank sectors — but applying CRA to independent mortgage bankers seems like a solution in search of a problem. Therefore, the mortgage questions federal policymakers should be asking are: 1) Why do IMBs have a much better mortgage access to credit record than banks? (2)

Debt-to-income ratio 322

Debt-to-income ratio Banks Lending Loans 322

Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. They work for lending institutions, such as banks and mortgage companies. The analysis determines the borrower’s income and expenses.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages FHA loan Loans 108

Housing Wire

AUGUST 23, 2023

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. ” And what is Better.com best at?

Debt-to-income ratio 362

Debt-to-income ratio Technology Mortgages Pre-approval 362

Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. It's essential to gather the necessary documentation, such as bank statements and pay stubs, to support your application.

Pre-approval 95

Pre-approval Debt-to-income ratio Mortgages Loans 95

HomeLight

OCTOBER 25, 2023

Enter the bridge loan: a timely financial lifeline that lets you buy your new home before selling your old one. We’ll delve into the mechanics, pros, cons, and alternatives to bridge loans, ensuring you have all the tools you need to make the best decision for your unique situation. What is a bridge loan, in simple words?

Equity 101

Equity Loans Debt-to-income ratio Closing costs 101

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. As of March 8, according to Commerce Bank , the prime rate was 7.75%. to 2 points.”

Equity 363

Equity Marketing Debt-to-income ratio Lending 363

Lab Coat Agents

MAY 1, 2024

VA loan assumptions offer a fantastic opportunity for your clients to save thousands on their mortgage in a rising interest rate environment. What is a VA Loan Assumption? What is a VA Loan Assumption? This can provide significant savings compared to taking out a new loan at prevailing market rates.

VA loan 52

VA loan Loans Debt-to-income ratio FHA loan 52

Realtor.com

JANUARY 10, 2023

fizkes/iStock This may indeed be the case if you’ve found that perfect house, only to have lenders inform you that you don’t qualify for a mortgage. Even if you know how to scrimp and save to make your monthly mortgage payments, the bank doesn’t know how well you pinch pennies. Enter the co-signer.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

Housing Wire

NOVEMBER 10, 2020

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. At that point, Dodson was actively working on a jumbo loan for friends of his from church. And whether you do it or someone else does it, that loan is going to get done.” So you stop.”.

Debt-to-income ratio 432

Debt-to-income ratio Loans Banks Mortgages 432

Realty Biz

DECEMBER 8, 2022

Most people need to get help from a lender to buy a home, and applying for a loan can be difficult at times. Getting a mortgage in the current conditions, where interest rates have risen quickly, hasn't made the situation any easier. We will look at the process of getting a mortgage for the first time. How to Get a Mortgage.

Loans 134

Loans Debt-to-income ratio Due diligence Title search 134

Realty Biz

OCTOBER 25, 2021

Financing in the form of mortgage refinancing can reduce your expenses and help you pay off your mortgage faster. When you refinance your mortgage you will be replacing your existing mortgage with a new mortgage with new terms and a different interest rate. Mortgage refinancing tends to be an easier process.

Debt-to-income ratio 111

Debt-to-income ratio Mortgages Closing costs Equity 111

Realty Biz

JUNE 7, 2023

The journey to homeownership is an exciting adventure, and securing the best interest rates on home loans is the key to unlocking this special milestone. In this blog, we will share ten powerful strategies to help you understand home loans better and ensure you secure the most favorable interest rates possible.

Debt-to-income ratio 63

Debt-to-income ratio Loans Pre-approval Lending 63

RIS Media

MARCH 8, 2022

During the underwriting process, a mortgage lender will evaluate documentation that you submit to see if you meet the institution’s guidelines. The lender wants to figure out if you will be able to repay a loan or if you would be likely to default. You will be required to submit a series of documents when you apply for a mortgage.

Debt-to-income ratio 89

Debt-to-income ratio Mortgages Loans Banks 89

Realty Biz

MARCH 16, 2023

Are you trying to decide the best mortgage options for buying your first home? If qualifying for a conventional loan is difficult, and you aren't eligible for VA or USDA loans, an FHA loan could be the answer. FHA loans allow you to pay 3.5% But there are also downsides to FHA-insured loans.

FHA loan 92

FHA loan Loans Debt-to-income ratio Due diligence 92

Realty Biz

DECEMBER 12, 2022

There are several things to consider when it comes to getting a mortgage. Most home buyers want to get the best mortgage rates and terms. We will cover everything you need to know about how to get a mortgage. What is a Mortgage? There are many different types of mortgages , including conventional, FHA, VA, and USDA loans.

Debt-to-income ratio 90

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 90

RIS Media

JUNE 6, 2021

Are you wondering how land loans work? Getting a loan for land is a smart move, especially when you will not be constructing your home right away. You can take out a mortgage for land the same way you would for a house—the only difference and inconvenience is the land’s assessment. Where Do You Get Your Loan?

Land 125

Land Loans Debt-to-income ratio Construction 125

Realtor.com

FEBRUARY 2, 2022

But our mortgage and lending system can be especially challenging for retirees to navigate, simply because lenders prioritize income. Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. Get creative with your mortgage.

Debt-to-income ratio 100

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. Still, pre-approval is not a guarantee that a buyer will get a loan.

Loans 133

Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

Realtor.com

NOVEMBER 2, 2020

While freelancing undoubtedly has its perks, helping you get a mortgage is not one of them. Since COVID-19 started tearing through the country in March, we’ve heard reports of freelancers having an even harder time getting approved for mortgages. Getting a mortgage as a freelancer (pre-coronavirus). What’s changed.

Debt-to-income ratio 144

Debt-to-income ratio Pre-approval Mortgages Banks 144

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Lenders carefully assess tax returns and stable income to determine eligibility. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available.

Debt-to-income ratio 72

Debt-to-income ratio FHA loan Lending Loans 72

Realtor.com

NOVEMBER 9, 2022

Getty Images You might have heard it’s more challenging to get a mortgage if you’re self-employed. Namely, you’ll have to gather a bunch of paperwork to validate your income and self-employment history. Mortgage basics for self-employed borrowers. What lenders need from self-employed borrowers.

Debt-to-income ratio 95

Debt-to-income ratio Loans Banks Mortgages 95

Realty Biz

MARCH 7, 2023

Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. In that case, low-income housing programs will come to your rescue! How do lenders determine your income and eligibility for a loan? And don’t forget!

Loans 76

Loans Debt-to-income ratio Closing costs Lending 76

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. Most lenders set their own requirements, so even with a bad credit score, there are various lenders who will fund your mortgage.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

Debt-to-income ratio 70

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 70

RIS Media

OCTOBER 2, 2020

If you’re looking to buy a house, there are a wide range of companies that would likely be happy to give you a mortgage. Well-known national lenders approve loans for customers across the United States, but a smaller, local bank or credit union may offer you several advantages that a larger institution can’t. Loan Servicer.

Banks 53

Banks Debt-to-income ratio Mortgages Loans 53

RIS Media

JULY 13, 2021

Before you get final approval for a mortgage, your application will have to go through an underwriting process. An underwriter will thoroughly review documentation to assess your financial situation and ability to repay a mortgage. High Debt-to-Income Ratio. High Loan-to-Value Ratio.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Banks Loans 98

Realty Biz

JUNE 23, 2021

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. When looking for a mortgage broker Barrie homeowners who are having a hard time getting approved for a loan may want to consider a private mortgage lender.

Debt-to-income ratio 82

Debt-to-income ratio Mortgages Lending Banks 82

RIS Media

JANUARY 29, 2021

Lenders offer mortgages for borrowers with a wide range of financial circumstances. Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Bankruptcy Loans 98

GeekEstate

JUNE 26, 2022

Landis leverages data to create customized financial plans for our clients so that they can save more money, improve their debt-to-income ratio, increase their credit score, and build a stronger financial foundation. That way, they can then qualify for a mortgage to buy their dream home.

Debt-to-income ratio 123

Debt-to-income ratio Loan Officer Technology Banks 123

RIS Media

NOVEMBER 2, 2020

You may think that cleaning out your bank account to make a large down payment on a house would be a smart move, but that’s inaccurate. You should have money left over in mortgage reserves so you’ll be able to pay your loan principal, interest, taxes and insurance if you experience a loss of income.

Debt-to-income ratio 53

Debt-to-income ratio Closing Mortgages Principal 53

Realtor.com

FEBRUARY 3, 2022

How large a mortgage can you afford? to 20% of the property’s price), the rest of the money is typically borrowed in the form of a mortgage, which is paid back to the lender every month, plus interest, for up to 30 years. What is debt-to-income ratio?

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Marketing Finance 105

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. But even if you paid all cash for something, it could impact how much the bank is willing to lend to you.

Pre-approval 94

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