Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. Today’s market includes mortgage rates of above 6%, low inventory and elevated home prices, all contributing to affordability problems. last year.

Loan Officer 390

Loan Officer Equity Finance Loans 390

Housing Wire

FEBRUARY 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies.

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Backup offer Loan Officer Home sale contingency Branding 388

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. 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.

Mortgages 424

Mortgages VA loan Loans Loan Officer 424

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 7, 2023

If the traditional practice of sellers paying for both sides of the agents ends, housing agencies will have to weigh in to determine ways for buyers to finance their agents’ comp, LOs noted. But if you’re an originator, that simply means that your target group is now smaller,” said Brian Hale, CEO of Mortgage Advisory Partners. “If

Agents 389

Agents Loan Officer Lending MLS 389

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

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. Are you planning to buy a home in 2021?

Fixed-rate mortgage 414

Fixed-rate mortgage Pre-approval Mortgages Loan Officer 414

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. He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 397

Fixed-rate mortgage Loans Mortgages Loan Officer 397

Housing Wire

SEPTEMBER 22, 2022

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. 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.

Marketing 362

Marketing Loan Officer Loans Finance 362

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 327

Lending Banks Loan Officer Loans 327

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. . Shared equity financing.

Finance 106

Finance VA loan FHA loan Agents 106

HomeLight

AUGUST 31, 2022

With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 made mortgage and other payments on time and.

Equity 102

Equity Finance Loans Closing costs 102

Realtor.com

NOVEMBER 27, 2022

Why refinance a mortgage? Although it will be a little faster than getting your initial mortgage, it still has many of the same time-consuming steps. Lenders are required to provide your loan estimate and disclosures within three days of your application. Step 4: Loan processing. Step 1: Research your options.

Mortgages 111

Mortgages Closing costs Loans Loan Officer 111

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

Realtor.com

MARCH 12, 2021

Getty Images Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but didn’t get around to it yet. First find the difference between your current mortgage rate and the potential savings of a refinance offer. What if closing costs are too high?

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Realtor.com

DECEMBER 20, 2021

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , to 1% of your loan amount each year. Loans with no money down.

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

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

Realty Biz

JANUARY 4, 2022

In most circumstances, he not only has to make your full mortgage payment but would also owe penalties, late fees, additional interest, etc. It goes beyond being responsible for all your mortgage because your home loan becomes part of his overall debt. Your father might not be thinking only about finances either.

Debt-to-income ratio 89

Debt-to-income ratio Loans Mortgages Title 89

Realtor.com

MARCH 8, 2021

When you buy a home, you can usually rely on a standard mortgage to pay for it. But when you build your home from the ground up, a regular mortgage may not suffice. Instead, you might need a construction loan. What is a construction loan? Qualifications for a construction loan: What you need for approval.

Loans 120

Loans Construction Land Finance 120

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Marco Santarelli

NOVEMBER 1, 2023

The Housing Market Affordability Challenge The cost of buying a home has skyrocketed in recent years, with home values reaching record highs and mortgage rates at their highest in two decades. The Impact of Mortgage Rates Mortgage rates are another factor affecting the time it takes to make a profit on a home purchase.

Finance 52

Finance Loan Officer Loans Closing costs 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. This is because they usually make more money when you finance your purchase.

Loans 89

Loans Loan Officer Finance Closing costs 89

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. If you have only limited credit, you may not qualify for a mortgage at all. This saves buyers money on their monthly mortgage payments.

Loans 111

Loans FHA loan Finance Loan Officer 111

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. If you have only limited credit, you may not qualify for a mortgage at all. This saves buyers money on their monthly mortgage payments.

Loans 98

Loans FHA loan Finance Loan Officer 98

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.

Mortgages 96

Mortgages Title Loans VA loan 96

Redfin

APRIL 25, 2022

There’s no doubt that one of the most important and often daunting steps in the homebuying process is qualifying for a mortgage. By understanding what lenders look for – the four C’s of credit – you can set yourself up for success and a smooth-sailing mortgage underwriting process. What are the four C’s of credit?

Mortgages 65

Mortgages Debt-to-income ratio Loans Banks 65

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. How much mortgage do I qualify for? What type of home loans do you offer? Conventional.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

Realtor.com

FEBRUARY 2, 2022

The word is out: Mortgage interest rates are on the rise. This means for the same size loan (and house), borrowers will have to pay a higher monthly mortgage bill every month. How high will mortgage rates go—and how fast? So what does that have to do with mortgages, you ask? Not much, at least not directly.

Mortgages 98

Mortgages Banks Loans Lending 98

HomeLight

JULY 25, 2022

From the down payment to the fees associated with getting a mortgage, it can seem overwhelming — and expensive. 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. Prepaid costs you can expect to pay.

Closing costs 96

Closing costs Earnest money deposit Loans Closing 96

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

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?

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Closing costs Closing Title Inspection 87

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. Service members, veterans, and surviving spouses qualify for these loans with 0% down.

Loans 97

Loans VA loan FHA loan Purchase and sale agreement 97

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. It offsets the amount you need to borrow for a mortgage. Or, you can choose not to increase your purchase price and simply enjoy cheaper mortgage payments. Mortgage insurance. USDA loans.

FHA loan 98

FHA loan VA loan Loans Loan Officer 98

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Home financing. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! Plus, it only costs between 0.5%

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

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 94

Pre-approval Pre-qualification FHA loan Inspection 94

HomeLight

JUNE 30, 2021

It’s no secret that there’s lots to consider before buying a house, but one of the trickiest points for first-time buyers is often figuring out how to calculate a mortgage payment. With the help of HomeLight Home Loans expert Richie Helali, we’re going to review everything that goes into a mortgage payment (and what doesn’t!).

Mortgages 56

Mortgages Principal Loans Homeowner’s association 56

C4D Crew

JANUARY 13, 2022

Take a look at your current debt versus your income and consider how much money you can afford on a monthly mortgage. Make sure to include everything in your estimate, including groceries and student loans. Most loans require at least a 3.5% Getting a Loan. Conventional loans are the most popular option for buyers.

Loans 52

Loans Closing Pre-approval VA loan 52