Lighter Side of Real Estate

AUGUST 5, 2020

Ask an agent to go see houses before getting pre-approved. There’s no greater let down than finding a house you love, and finding out you can’t be approved for a mortgage in the price range of that house. Besides, many sellers and their agents won’t even consider your offer if you don’t include a pre-approval letter.

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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. Most title companies and attorneys don’t accept personal checks over $500, sometimes less.

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Closing Title search Purchase and sale agreement Title 63

Redfin

JUNE 14, 2023

Get pre-approved from a lender Getting pre-approved from a lender is equally important with several significant benefits. By completing the closing process, buyers gain the assurance that the property’s title is clear, all necessary documentation is in order, and any outstanding financial obligations are settled.

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HomeLight

MARCH 17, 2021

While you’ll find lots of ways to ballpark your housing budget, the real determiner will be your debt-to-income ratio , or DTI. The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI. Those funds are due on closing day.

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Redfin

SEPTEMBER 14, 2023

Various programs are available for first-time homebuyers in Oregon , including the Oregon Bond Residential Loan Program Cash Advantage , which includes a grant of 3% of the total loan amount that can be used for closing costs assistance.

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Pre-approval Debt-to-income ratio Title search Closing costs 61

HomeLight

AUGUST 16, 2021

Smaller issues like court judgments can also result in not getting your mortgage approved. Debts and expenses. To calculate your debt-to-income ratio or DTI, lenders will look at your recurring debts relative to your monthly income. Closing costs. Closing Disclosure.

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Loans Mortgages Bankruptcy Purchase and sale agreement 104

Redfin

AUGUST 3, 2022

Determining how much house you can afford is the first step in the home buying checklist – setting a realistic budget will relieve stress in the long run and help narrow your home search. Here are the steps to determine how much house you can afford: First, determine your debt to income ratio (DTI). Make an offer.

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