Housing Wire

MARCH 23, 2021

The COVID-19 pandemic, coupled with skyrocketing refinance applications due to a low interest rate environment, have created a perfect storm for fraud. Underwriters with hidden agendas. Now is the time for lenders to tighten their procedures not only on recruiting and hiring practices, but also lending operations.

Lending 446

Lending Mortgages Due diligence Debt-to-income ratio 446

Realty Biz

DECEMBER 8, 2022

Your debt-to-income ratio is an important consideration when lenders look at your finances. DTI is all of your debts divided by your gross income each month. Typically lenders won't accept a DTI ratio over 45%, but it is better to reduce your ratio to around 36%.

Loans 132

Loans Debt-to-income ratio Due diligence Title search 132

Realty Biz

MARCH 16, 2023

This premium is paid at closing. The amount you will pay depends on the loan term you choose, either 15 or 30 years, the loan-to-value ratio, and the loan amount. The FHA limits the amount lenders can charge in closing costs, which can be paid by sellers or added to the loan amount. Will You Qualify for an FHA Home Loan?

FHA loan 89

FHA loan Loans Debt-to-income ratio Due diligence 89

Point2Homes

DECEMBER 7, 2020

Lenders will normally look at your debt-to-income ratio to determine whether you qualify for a loan. Typically, they don’t want you to have debts that add up to more than 43% of your gross monthly income. Additionally, with a foreclosed home, you have to be particularly wary of using your maximum budget.

Debt-to-income ratio 118

Debt-to-income ratio Pre-approval Inspection Inspection contingency 118

Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

Closing 63

Closing Title search Purchase and sale agreement Title 63

HomeLight

JUNE 19, 2023

Basically, a rent-to-own real estate purchase means that you can live in the house as a renter with the intent to close on the home at a date in the future. Lease purchases, on the other hand, could be viewed like a traditional real estate purchase with a delayed closing date. Get Started What does rent-to-own mean?

Purchase and sale agreement 102

Purchase and sale agreement Debt-to-income ratio Due diligence Inspection 102

HomeLight

JANUARY 27, 2021

It’s not typical for agents to get paid before the deal has closed; usually, they’ll receive their compensation at the closing table. They’re going to look at your debt-to-income ratio; they’re going to look at all of this stuff before offering you a loan. The lender is just doing their due diligence.”.

Agents 84

Agents Purchase and sale agreement Debt-to-income ratio Due diligence 84