Realty Biz

DECEMBER 8, 2022

Getting a mortgage in the current conditions, where interest rates have risen quickly, hasn't made the situation any easier. While it might be more difficult to get a mortgage, it is, of course, still possible, but you might need to prepare more carefully. We will look at the process of getting a mortgage for the first time.

Loans 134

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

Lighter Side of Real Estate

AUGUST 5, 2020

If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Try to mislead the mortgage company. There’s a simple solution to this potential problem…don’t do it!

Pre-approval 145

Pre-approval Debt-to-income ratio Title search Finance 145

HomeLight

AUGUST 29, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Keep in mind that this doesn’t include the funds you will need for closing costs.

Earnest money deposit 97

Earnest money deposit Title Inspection Title search 97

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. By far, one of the biggest nightmares is that the mortgage falls through on the closing day.

Closing 62

Closing Title search Purchase and sale agreement Title 62

Redfin

JUNE 14, 2023

Through pre-approval, a lender thoroughly assesses your financial situation, including income, credit history , and debt-to-income ratio, to determine the maximum loan amount they are willing to lend you. This allows you to confidently search for homes within your budget and make realistic offers.

Pre-approval 56

Pre-approval Debt-to-income ratio Closing costs Title 56

HomeLight

AUGUST 16, 2021

The mortgage loan process is pretty messy! Follow the list, and you’ll save yourself a lot of headaches and make the mortgage loan process a lot smoother. You’ll sign your loan application for the final time at closing. Proof of income. If you’re a list person, then you appreciate the value of keeping track of your items.

Loans 104

Loans Mortgages Bankruptcy Purchase and sale agreement 104

Realtor.com

NOVEMBER 28, 2022

Getty Images With mortgage interest rates near 7% and home prices hovering at a national median of $425,000, many homebuyers might be wondering how they’ll be able to pay for a property, and searching for ways to reduce costs. What is a USDA loan? Types of USDA loans. Direct loans. Guaranteed loans.

Loans 95

Loans Mortgages FHA loan Debt-to-income ratio 95