Housing Wire

FEBRUARY 14, 2024

Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. BBYS products enable homeowners to tap their current home equity to purchase the new home, meaning they can make larger down payments and reduce the cost of their loans.

Backup offer 414

Backup offer Loan Officer Home sale contingency Branding 414

Housing Wire

SEPTEMBER 7, 2023

The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Agents 393

Agents Loan Officer Lending MLS 393

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. Hunterbrook also claims that borrowers paid in UWM loans a total of $229 million more in closing costs over the past four years than the average-priced loan.

Fixed-rate mortgage 433

Fixed-rate mortgage Loans Mortgages Loan Officer 433

Housing Wire

NOVEMBER 1, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown?

Seller concession 433

Seller concession Loan Officer Closing costs Mortgages 433

Housing Wire

SEPTEMBER 22, 2022

Chicago-based Guaranteed Rate this week rolled out an expanded Language Access Program, which has applications and loan servicing in Spanish for consumers in all 50 states. Let’s take loan disclosures as a prime example. In 2021, Guaranteed Rate originated more than $116 billion in purchase loans and refinances.

Marketing 370

Marketing Loan Officer Loans Finance 370

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

Mortgages 392

Mortgages Loan Officer Marketing Seller concession 392

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ?

Closing costs 104

Closing costs Closing Mortgages Title 104

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. In fact, they could actually cost you more (often significantly more) if used incorrectly. Want to make sure you’re getting the best deal and making the right choice for your finances? USDA loans.

Mortgages 424

Mortgages VA loan Loans Loan Officer 424

Housing Wire

APRIL 25, 2023

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

Lending 381

Lending Banks Loan Officer Loans 381

Real Trends

NOVEMBER 11, 2022

Real estate professionals navigating housing in 2022 and beyond need to know their way around all the financing options available. Without knowledge of lesser-known financing choices, real estate professionals can miss the chance to turn their customers into homeowners, or sellers. . USDA loans. 2-1 buydowns.

Finance 106

Finance VA loan FHA loan Agents 106

Realtor.com

MARCH 8, 2021

Instead, you might need a construction loan. In this installment from our Guide to Building Your Own Home , we’ll cover everything you need to know about construction loans. What is a construction loan? Interest rates are also typically higher for a construction loan, usually by around 1%.

Loans 120

Loans Construction Land Finance 120

Housing Wire

DECEMBER 22, 2020

Fixed-rate mortgages have a set interest rate for the entirety of the loan. Adjustable-rate loans have interest rates that fluctuate after a certain amount of time. As long as you go through with the deal, the deposit will go toward your closing costs and down payment. Fixed-rate mortgage. You’re not alone.

Fixed-rate mortgage 414

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 414

HomeLight

AUGUST 31, 2022

Increasing inflation on everything from gas to groceries and the reinstatement of student loans and other repayments (paused during the pandemic) are prompting some consumers to explore avenues to maximize their assets if times get tough. Many homeowners find the greatest financial security lies right beneath their feet.

Equity 103

Equity Finance Loans Closing costs 103

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. The aim of the micromortgage program is to make homeownership more attainable and to begin to close the racial gap in homeownership.

Loans 111

Loans FHA loan Finance Loan Officer 111

Realty Biz

JANUARY 4, 2022

But I’m heavily saddled with student loans to the tune of $425 per month. I’ve been deferring my student loan payments and I’m hoping for loan forgiveness some time down the road. But I’ve been saving the student loan money and diligently saving everywhere that I can to come up with a down payment for a home.

Debt-to-income ratio 89

Debt-to-income ratio Loans Mortgages Title 89

Realtor.com

DECEMBER 20, 2021

Real estate agents don’t typically deal with the loan process. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , for an FHA loan. to 1% of your loan amount each year. Loans with no money down. Ask your agent.

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. The aim of the micromortgage program is to make homeownership more attainable and to begin to close the racial gap in homeownership.

Loans 98

Loans FHA loan Finance Loan Officer 98

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Sometimes you’ll even find grants to help you with closing costs and down payments. Sound great? Sure it does! Source: (LinkedIn Sales Solutions / Unsplash).

Loans 100

Loans VA loan FHA loan Purchase and sale agreement 100

Dwell Real Estate

MAY 26, 2022

The program is administered by the Florida Housing and Finance Corporation (Florida Housing) and has the highest and most inclusive eligibility of all Florida Housing down payment assistance programs. ” “Recently I started looking to buy a house. “I joined the military when I was 18.

Loan Officer 98

Loan Officer Closing costs Finance Loans 98

C4D Crew

JANUARY 13, 2022

This article will break down the home buying process from loan to close. . Before the Loan. Make sure to include everything in your estimate, including groceries and student loans. Remember, buying a home is more expensive than renting one, and there are costs that renters don’t pay, such as home repairs. .

Loans 52

Loans Closing Pre-approval VA loan 52

Realty Biz

JANUARY 19, 2023

Buying a house in cash means that you don’t have to take out a loan or use a mortgage to purchase a home. It’s important to note that, if you’re buying a house in cash, you’ll still need to pay closing costs and any applicable taxes. Since you won’t have to worry about financing, you can usually close on your home much faster.

Loans 89

Loans Loan Officer Finance Closing costs 89

Marco Santarelli

NOVEMBER 1, 2023

Zillow's analysis takes into account various factors, including typical home values, forecasted home value increases, closing costs, agent fees, maintenance costs, and interest payments. Financing and Affordability Getting financing for your home is a crucial step in the home buying process.

Finance 52

Finance Loan Officer Loans Closing costs 52

Realtor.com

NOVEMBER 27, 2022

“If you are shopping for rates, let the lenders know that upfront and ask for a loan estimate,” advises Laura Nickolay of White Oaks Wealth Advisors, Inc. Step 2: Complete the loan application. Step 3: Receive your loan estimate and disclosures. Step 4: Loan processing. Step 7: Closing. in Minneapolis.

Mortgages 111

Mortgages Closing costs Loans Loan Officer 111

Realtor.com

MARCH 12, 2021

Consider how many months it would take for you to recoup the costs of closing on a refi, along with how long you’ll be staying at this home. If you can recoup closing costs within two years and plan to stay in your house for longer, the savings on interest means the math will likely work out in your favor.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

HomeLight

JULY 25, 2022

Of all the expenses that come with buying a house, prepaid costs often take buyers by surprise and aren’t as talked about as down payments or closing costs. Which costs are prepaid when buying a home? These costs differ slightly from closing costs and will be laid out in your mortgage Loan Estimate and Closing Disclosure.

Closing costs 99

Closing costs Earnest money deposit Loans Closing 99

HomeLight

SEPTEMBER 30, 2020

And the interest you pay on that mortgage loan is nothing to sneeze at. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72 just in interest over the lifetime of the loan. Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. Crazy, right?

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”. All the major loan programs accept much lower minimum down payments, with a few even offering zero-down loans.

FHA loan 100

FHA loan VA loan Loans Loan Officer 100

HomeLight

JUNE 28, 2021

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores.

Pre-approval 97

Pre-approval Pre-qualification FHA loan Inspection 97

Real Trends

JANUARY 4, 2023

First-time homebuyers cited the cost and the budgeting process as a surprise , as well as unexpected expenses like closing costs or taxes (38%), and the impact on monthly budgeting (32%). Also, many first-time buyers aren’t aware that sellers may be able to contribute to their closing costs through concessions.

Closing costs 81

Closing costs Inspection Title Agents 81

HomeLight

JANUARY 27, 2021

Home financing. So understand that unless you’ve been earning 1099 income for more than two years, it may not help you qualify for a home loan. Some loans, like VA or USDA loans, even allow you to put 0% down. Plus, it only costs between 0.5% and 1% of your loan amount, annually.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

Closing costs 90

Closing costs Closing Title Inspection 90

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. These are things you just might not know as a buyer — but your agent and loan officer can give you guidance!

Mortgages 60

Mortgages Debt-to-income ratio Loans Closing costs 60

HomeLight

OCTOBER 2, 2020

Mortgages are some of the most complicated loans that you can get, and they include a number of associated fees. While a good lender, mortgage broker, or real estate agent will explain mortgage fees to you before the closing , many borrowers still find themselves surprised at the total cost. Loan origination fees.

Mortgages 97

Mortgages Title Loans VA loan 97

Redfin

APRIL 25, 2022

Capacity: Are you able to pay back the loan? Collateral: What property or possessions can you pledge as security against the loan? While different lenders may have their own specific qualifications for securing a home loan, there are four main factors that they’ll review and analyze during the mortgage underwriting process.

Mortgages 65

Mortgages Debt-to-income ratio Loans Banks 65

Redfin

MARCH 3, 2022

Although a delay in closing isn’t always the case, it’s best for both buyers and sellers to be aware of the common reasons for delayed closings. Financing issues. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. How to remedy the situation.

Closing 62

Closing Title search Purchase and sale agreement Title 62

Realtor.com

FEBRUARY 2, 2022

This means for the same size loan (and house), borrowers will have to pay a higher monthly mortgage bill every month. But if your palms are getting sweaty just thinking about what you’ll face when you apply for a loan, it’s time to take a breath and get realistic answers to the questions swirling in your head.

Mortgages 98

Mortgages Banks Loans Lending 98