Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing 330

Closing Fixed-rate mortgage Debt-to-income ratio Lending 330

Housing Wire

SEPTEMBER 27, 2023

And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday. The CFPB report shows that the median total loan costs for home purchases was $5,952 in 2022, up 21.8% in 2022, up from 8.3%

Debt-to-income ratio 342

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 342

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Our DSCR loan for real estate investors qualifies on the rental cash flow of the subject property.

Debt-to-income ratio 326

Debt-to-income ratio Mortgages Banks Investor 326

Housing Wire

APRIL 8, 2024

Serving as a one-time fee paid at closing that allows a borrower access to a lower mortgage interest rate, CFPB notes that such points “have no fixed value in terms of the change in interest rate” and that borrower benefit is highly dependent on how long a borrower maintains a particular mortgage.

Debt-to-income ratio 404

Debt-to-income ratio Loans Principal Investor 404

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 359

Loans Debt-to-income ratio Banks Mortgages 359

Housing Wire

SEPTEMBER 11, 2023

Founded in 2022 by Eric Meadow, Home Sale Assured produces a “Guaranteed Backup” options contract, which enables existing homeowners to buy their next home before closing the sale of their current home. He most recently served as the president of troubled, largely defunct retail lender Celebrity Home Loans.

Debt-to-income ratio 315

Debt-to-income ratio Sales Purchase and sale agreement Loans 315

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. “With BorrowSmart Access, we’re delivering on that mission by providing ways to reduce cost in the homebuying process.”

Debt-to-income ratio 402

Debt-to-income ratio Closing costs Finance Lending 402

Housing Wire

JANUARY 20, 2021

The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. To find a qualified lender, you need a good credit score and a good debt-to-income ratio, which is the percentage of a consumer’s monthly gross income that goes to paying down debt.

Debt-to-income ratio 414

Debt-to-income ratio Pre-approval Mortgages Closing costs 414

Realty Biz

FEBRUARY 22, 2024

Make sure all your finances are squared away, including disputing incorrect data on your credit report or paying off existing debts to signal to lenders you can afford your mortgage. 5 Steps for a Pre-Approval for a Home Loan Do a Free Credit Score Check. You can work closely with creditors to resolve the issues before applying.

Pre-approval 82

Pre-approval Debt-to-income ratio Loans Banks 82

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange.

Debt-to-income ratio 323

Debt-to-income ratio Loans Mortgages Closing 323

Housing Wire

NOVEMBER 7, 2023

This implies easing inflation next year, and mortgage rates near 6% would help affordability issues caused by two things: The inflation fight has fueled the mortgage rate spike Low inventory and a steady job market have put a floor on home prices The good news is that GSEs remain committed to loan approval guidelines that help in these tough cycles.

Debt-to-income ratio 328

Debt-to-income ratio Mortgages VA loan Loans 328

Housing Wire

APRIL 7, 2021

Your Income Is Stable. A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.

Debt-to-income ratio 441

Debt-to-income ratio Fixed-rate mortgage Finance Loans 441

HomeLight

DECEMBER 5, 2023

That’s where a bridge loan in Connecticut can be your saving grace. A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. What is a bridge loan, in simple words? How does a bridge loan work in Connecticut?

Equity 89

Equity Debt-to-income ratio Loans Home sale contingency 89

Housing Wire

FEBRUARY 1, 2022

The recent offering , CAS Series 2022-R02, involves transferring loan-portfolio risk to private investors via a $1.2 billion note offering backed by a reference pool of 149,393 residential mortgage loans valued at $44.3 trillion in single-family mortgage loans, measured at the time of the transaction. billion.

Debt-to-income ratio 334

Debt-to-income ratio Investor Loans Principal 334

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for.

Pre-qualification 429

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 429

Realty Biz

APRIL 8, 2022

Physician mortgage loans are a particular loan class exclusively available for physicians and medical residents. A few factors can make home loans more difficult than you would expect for a person who works as a doctor. So, let’s look at three of those major problems you can solve by opting for physician mortgage loans. .

Debt-to-income ratio 87

Debt-to-income ratio Loans Mortgages Closing costs 87

HomeLight

NOVEMBER 29, 2023

However, there’s a solution that might just make these puzzle pieces fit seamlessly together: a bridge loan. If you need assistance navigating the use of a bridge loan in Michigan, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Michigan?

Equity 93

Equity Loans Debt-to-income ratio Home sale contingency 93

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a potential lifeline in this complex process. In this post, we’ll provide tips and insights about bridge loans in Pennsylvania, and how to Buy Before You Sell. If you need assistance navigating the use of a bridge loan in Pennsylvania, HomeLight encourages you to reach out to your own advisor.

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

Housing Wire

JUNE 4, 2021

If you have poor credit, it’s less likely a lender will approve you for a loan. The good news is, you can raise your credit score by paying down debt and making your payments on time. Step 2: Look At Different Loan Options. with an FHA loan. First, figure out our total monthly debts. each month?

Debt-to-income ratio 441

Debt-to-income ratio FHA loan Loans Land 441

HomeLight

NOVEMBER 7, 2023

Enter the bridge loan, a financial tool designed to bridge this very gap. As a short-term financing solution, bridge loans empower you to leap ahead to purchase your new Oklahoma home before saying goodbye to your old one, helping you keep all the pieces in place without the interim shuffle. What is a bridge loan, in simple words?

Equity 93

Equity Loans Debt-to-income ratio Home sale contingency 93

HomeLight

DECEMBER 15, 2023

Lining up the sale of your current home while trying to close the deal on a new one, particularly in a competitive market where inventory is low, may feel impossible. However, there’s one financial tool you probably haven’t considered – a bridge loan. What is a bridge loan, in simple words?

Equity 92

Equity Loans Debt-to-income ratio Home sale contingency 92

Housing Wire

FEBRUARY 6, 2023

Along the way they have impacted other cells in the matrix that have higher credit scores and lower LTVs with some increases as well as increases to things like cash out refinances and high balance loans. 25% – 375% should their debt-to-income ratio drift above 40%.

Debt-to-income ratio 419

Debt-to-income ratio Pre-approval Loans Mortgages 419

HomeLight

OCTOBER 25, 2023

Enter the bridge loan: a timely financial lifeline that lets you buy your new home before selling your old one. We’ll delve into the mechanics, pros, cons, and alternatives to bridge loans, ensuring you have all the tools you need to make the best decision for your unique situation. What is a bridge loan, in simple words?

Equity 94

Equity Loans Debt-to-income ratio Closing costs 94

Housing Wire

NOVEMBER 12, 2020

Not only does a prime credit score improve your chances of getting approved for a mortgage, but it also helps you secure a lower interest rate, too — and that means a more affordable loan on the whole. Avoid new debt. If a mortgage loan is on your radar, then avoid applying for new credit cards, loans or other debts.

Debt-to-income ratio 488

Debt-to-income ratio Banks Loans Mortgages 488

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. In this guide, we explain the ins and outs of bridge loans in Utah and help you decide if they could be the answer to your property puzzle. How does a bridge loan work in Utah?

Equity 96

Equity Loans Debt-to-income ratio Home sale contingency 96

HomeLight

DECEMBER 13, 2023

But there’s an alternative you probably haven’t considered — a bridge loan. A bridge loan is a short-term financial tool that “bridges the income gap”, enabling you to purchase your new home before you’ve sold your old one. What is a bridge loan, in simple words? How does a bridge loan work in San Diego?

Equity 101

Equity Loans Debt-to-income ratio Home sale contingency 101

HomeLight

DECEMBER 13, 2023

But there’s another option that you probably haven’t considered: a bridge loan. A bridge loan is a short-term loan that “bridges the income gap” between selling your existing property and purchasing your next home. What is a bridge loan, in simple words? How does a bridge loan work in Miami?

Equity 98

Equity Loans Debt-to-income ratio Home sale contingency 98

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan 349

FHA loan Debt-to-income ratio Pre-approval VA loan 349

HomeLight

DECEMBER 29, 2023

However, there’s a solution that you may not have considered: a bridge loan. A bridge loan is a short-term financial tool designed to “bridge the gap,” enabling you to purchase a new home before you’ve sold your current residence. What is a bridge loan, in simple words? How does a bridge loan work in Dallas?

Equity 89

Equity Loans Debt-to-income ratio Home sale contingency 89

HomeLight

DECEMBER 14, 2023

You might think your only choice is to sell your home, move out, and then scramble to find a new one, but there’s an alternative you likely haven’t considered — a bridge loan. A bridge loan is a short-term financing option that allows you to buy a new home before selling your current one. What is a bridge loan, in simple words?

Equity 93

Equity Loans Debt-to-income ratio Home sale contingency 93

HomeLight

DECEMBER 15, 2023

Enter the bridge loan. If you need assistance navigating the use of a bridge loan in Austin, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? A bridge loan is a temporary solution designed to “bridge the gap” between selling your current home and buying a new one.

Equity 88

Equity Loans Debt-to-income ratio Home sale contingency 88

Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Understanding home equity loans and their associated interest rates is critical for making informed financial decisions. Home equity loans allow you to borrow a percentage of that equity, typically up to 85%.

Equity 72

Equity Loans Debt-to-income ratio Closing costs 72

HomeLight

DECEMBER 7, 2023

Enter the bridge loan – a short-term financing option. Bridge loans allow you to purchase a new home before selling your current residence, alleviating pressure and uncertainty while unlocking the equity in your current home. If you need assistance navigating the use of a bridge loan in Washington, D.C.,

Equity 97

Equity Loans Home sale contingency Debt-to-income ratio 97

HomeLight

NOVEMBER 30, 2023

Enter the bridge loan, a potential game-changer for your property transition. In this post, we’ll explore how a bridge loan could be the key to unlocking your homebuying and selling goals in Nevada. If you need assistance navigating the use of a bridge loan in Nevada, HomeLight encourages you to reach out to your own advisor.

Equity 91

Equity Loans Debt-to-income ratio Home sale contingency 91

Keeping Current Matters

DECEMBER 21, 2020

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. New debt comes with new monthly obligations. Don’t Change Bank Accounts.

Debt-to-income ratio 281

Debt-to-income ratio Mortgages Loan Officer Banks 281

HomeLight

NOVEMBER 30, 2023

Enter the bridge loan. If you need assistance navigating the use of a bridge loan in Missouri, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Missouri? This is where a bridge loan comes into play.

Equity 98

Equity Loans Debt-to-income ratio Home sale contingency 98

Marco Santarelli

MAY 27, 2024

If you're in the market for a house, that 7% average rate on a 30-year fixed loan might feel like a brick wall blocking your dream of homeownership. An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan. Unfortunately, conventional loans are generally not assumable.

Debt-to-income ratio 87

Debt-to-income ratio Mortgages FHA loan VA loan 87