The Mortgage Report

JUNE 12, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? Find your lowest mortgage rate. in May from 2.3%

FHA 203k rehab loan

The Mortgage Report

JULY 22, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? in June from 2.4% in May and 2.3% in May and 2.3%

FHA 203k rehab loan

Housing Wire

MARCH 6, 2023

The combination of an economic uncertainty, high mortgage rates and persisting affordability challenges will further reduce purchase demand, which keeps Monson and thousands of loan officers up at night. I see a lot more low credit scores, funky income, foreign nationals or bank statement loans,” he said.

Loan Officer

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. By implementing a credit process, lenders have the ability to help borrowers get approved for a loan – even after they were previously declined.

Pre-qualification

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. Companies may be struggling in one way or another.

Loan Officer

Housing Wire

MARCH 29, 2023

And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed. Arias said his pre-approval applications for March are in line with January’s numbers — but he hasn’t seen the busy spring buying season that everyone had hoped for.

Mortgages

Housing Wire

JANUARY 27, 2023

The lender runs its business based on a “no-loan-officer” model in which all of its 45 employees are licensed and delegated to a specific role in closing a loan. Back in the 2007-2009 meltdown, we had loan officers with us at that time. A lender with $624.6

Lending

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I

Marketing

Housing Wire

MAY 10, 2023

This has serious consequences for real estate agents and loan officers alike, since it’s usually a zero sum game. I sent pre-approvals two-to-three times a day, and then there are 30-plus offers on the homes and I virtually never get contracts,” one veteran loan officer told HW in late March.

Loan Officer

Housing Wire

JANUARY 31, 2023

. “I didn’t want to just jump for money,” Miller said, noting that some lenders with lower rates have complexities of putting together a loan — and transferring over existing clients’ loans is a different process for every company. But not every LO will find a new workplace. In-house is key.

Loans

Housing Wire

SEPTEMBER 22, 2022

Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment.

Mortgages

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

Loans

Housing Wire

JUNE 5, 2025

They offer a wide variety of prelicensing, continuing education and exam prep courses for aspiring and current mortgage loan officers. MLO Force strives to make continuing education fun and engaging for loan officers looking to make a difference in their clients lives.

Loans

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork.

Pre-approval

Housing Wire

SEPTEMBER 14, 2020

But when should the lender inject the loan officer or consultant into the process? Can the borrower shop for a loan anonymously? But without enough information about the borrower, the lender will struggle to provide a pre-approval. How early in the process must the borrower be identified?

Lending

Realty Biz

AUGUST 21, 2023

When your mortgage pre-approval expires, it can impact your home-buying process. A pre-approval is crucial in determining your loan eligibility and understanding your purchasing power. A mortgage pre-approval is typically good for 60-90 days , so it is crucial to remember this time frame.

Pre-approval

Housing Wire

APRIL 18, 2023

When rates start to trend down, the company expects to add more loan officers, call center staff and operation staff. That referral process is an age old, where the real estate community will give up a third of their commission for being delivered a qualified, pre-approved borrower that came out of the relocation world.

Loan Officer

Realtor.com

NOVEMBER 11, 2022

. “Talk to your bank or a reputable mortgage company to see what you qualify to purchase,” explains Rosanne Nitti , a Realtor® with RMN Investments & Realty Services, in Laguna Beach, CA. Step 2: Qualify for a home loan or loan pre-approval. Step 3: Learn how a loan officer can help.

Pre-approval

Realty Biz

DECEMBER 20, 2021

But then, you’re about to invest potentially tens of thousands of dollars in the form of a down payment on your new home.That could leave you with very little left over in the bank, so you’d better make sure the home and the mortgage you choose,are a good ones. . Pre-approval. You will learn how much of a loan you qualify for.

Pre-approval

Realty Biz

DECEMBER 14, 2021

But then, you’re about to invest potentially tens of thousands of dollars in the form of a down payment on your new home.That could leave you with very little left over in the bank, so you’d better make sure the home and the mortgage you choose,are a good ones. Pre-approval. You will learn how much of a loan you qualify for.

Pre-approval

Realtor.com

APRIL 29, 2021

To avoid this fate, make sure to crunch your numbers in our mortgage calculator or a home affordability calculator , and apply for mortgage pre-approval to see just where you stand in terms of how much house you can afford. Pre-qualification and pre-approval are essentially the same. Absolutely not.

Pre-qualification

Realty Biz

MARCH 9, 2021

Getting Pre-Approved for the Family Opportunity Loan. Getting a pre-approval letter from a lender for the Family Opportunity Loan is almost identical to getting approved for any conventional mortgage. The borrowers will need to present documents showing their income for the past 2 years.

Pre-approval

Keller Williams

AUGUST 17, 2022

Over the next several months, the housing market will be more in line with pre-pandemic market conditions,” shares KW chief economist Ruben Gonzalez. As a partner of Keller Williams, our loan officers are here to provide your clients with the easiest home financing experience available,” says Ball. “We

Finance

HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. Bank statements can also be used for certain mortgage loans if you have a non-traditional job or a side gig.

Short sale

HomeLight

OCTOBER 26, 2021

But that is only a preliminary step to getting final approval for a mortgage. We’ve asked Richard Helali, Loan Officer and Sales Lead at HomeLight Home Loans , to pull back the curtain to explain what happens during mortgage underwriting. The last step is the approval process. How long will it take?

Pre-approval

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. Follow these ten steps for how to get a home loan and put a plan in place to finance what will most likely be the biggest purchase of your life. Step 1: Know your credit score.

Pre-approval

HomeLight

AUGUST 31, 2021

It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. This can include bank statements, credit reports, property appraisals, income verification, tax returns, assets, and liabilities. Lenders then use this info to weigh the financial profile of an applicant for approval.

Mortgages

Realtor.com

FEBRUARY 23, 2021

of whites had their loan applications rejected, compared with 6.8% of multi-minority race individuals hoping to be approved. On top of racial discrimination, “they’re less likely to get help with the down payment from the bank of Mom and Dad,” says Theodos. Only about 5.5% of Asians, 9.3% of Hispanics, 11.7%

Mortgages

Realty Biz

JANUARY 19, 2024

Start by gathering all relevant financial documents, such as bank statements, tax returns, and pay stubs. This documentation will be necessary when applying for a mortgage pre-approval. It's advisable to reach out to multiple lenders and obtain pre-approval. Next, examine your credit score and history.

Debt-to-income ratio

Redfin

FEBRUARY 10, 2021

Well, it’s not only the difference between getting a low-interest rate on a home loan versus a high one, but it will also directly impact how much a bank or lender will loan you. Banks like to see a healthy savings account and other investments or assets (i.e. Get Pre-approved. Build Up Your Savings.

Debt-to-income ratio

HomeLight

AUGUST 16, 2021

Bank of America has two national DPA programs. These classes may be available online or in-person, and you will need to supply a certificate of completion to your loan officer. Step 5: Get preapproved for your loan. Preapproval — an actual conditional loan approval — beats pre-qualification, which is more of an estimate.

Loans

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval

Redfin

MARCH 3, 2022

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. Give your loan officer full disclosure from the start – tell us everything.

Closing

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.

Pre-approval

HomeLight

SEPTEMBER 30, 2021

A hard worker with an hourly paid job at a nearby prison, the client was able to save and use the Neighborhood Assistance Corporation of America (NACA) program through Bank of America. Department of Housing and Urban Development (HUD)-approved counseling agency, providing more than 31% of the housing counseling in the country. “It’s

Loans

Marco Santarelli

AUGUST 24, 2024

We'll delve into understanding credit scores, exploring your loan options, and uncovering effective strategies to improve your chances of approval. Higher Interest Rates: It's important to note that non-QM loans might come with higher interest rates compared to conventional loans due to the perceived higher risk by lenders.

Mortgages

HomeLight

AUGUST 31, 2022

If you meet eligibility requirements, many banks, credit unions, and other financial institutions have loans that allow homeowners to convert part of their equity to cash. Banks, credit unions, and other lenders each have their own criteria. If that application is approved, they now have two loans.

Equity