Redfin

JULY 30, 2025

Key takeaways: First-time homebuyer: Anyone who hasn’t owned a primary residence in the past three years Common first-time homebuyer qualifications: Credit score, debt-to-income ratio, down payment, income limits, employment history, purchase limits, homebuyer education Buying your first home? Let’s get started.

Debt-to-income ratio

Rochester Real Estate

NOVEMBER 5, 2015

Factors such as earnest money deposits, loan approvals, and real estate agent involvement should be considered. Begin by confirming your loan approval and securing a complete and documented pre-approval from your lender. This includes considering financial stability, loan pre-approval, and contingencies.

Earnest money deposit

The Close

JULY 28, 2025

Portfolio lenders can be an excellent financing option if you’re looking for a source of funding that you can’t get anywhere else, whether it’s because you can’t get approved, or you’re just flat out looking for uncommon terms. You see, portfolio lenders retain loans in-house so they don’t have to worry about third-party requirements.

Pre-qualification

Marco Santarelli

JUNE 28, 2025

It's essential to factor in that for larger loan amounts, many lenders may require a larger down payment or stricter qualification criteria. Key strategies include: Getting Pre-Approved : This will provide you with an idea of what you can afford and can set you up for a smoother closing process.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

For example, if you use a bank for your loan you may already have a pre-existing relationship with them and they sometimes offer very competitive interest rates. Have you tried calling a bank on a Saturday night to get a pre-approval letter? You have no control over who you loan gets sold to.

Finance

The Mortgage Report

JULY 7, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Not every factor will line up perfectly, but we’ll show you how to get as close as possible. However, don’t forget the closing costs that you may pay when you do that.

Equity

The Mortgage Report

JULY 1, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Buyers across the country are bringing smaller checks to the closing table,” he says. How Much Home Can I Afford?

Loans

Redfin

JULY 31, 2025

They cover topics like budgeting, building credit, mortgage options, house hunting, and closing. If you’re unsure where to start, check with HUD-approved counseling agencies, non-profit organizations, and local housing authorities to find available courses. Check with your state’s housing finance agency for options.

Purchase and sale agreement

Redfin

MARCH 4, 2025

The difference between these two accounts is that traditional 401(k) contributions are pre-tax, so youll be taxed once taking them out. For example, you may qualify for a hardship withdrawal to cover your down payment or closing costs. How does withdrawing from a 401(k) affect mortgage approval?

Debt-to-income ratio

Marco Santarelli

MARCH 23, 2025

Pre-approval: Before looking at homes, you should get pre-approved for a mortgage. Getting pre-approved generally involves a credit check and providing financial documentation, such as income statements and tax returns. It's wise to shop around and compare multiple lenders.

Mortgages

Redfin

JULY 7, 2025

Work closely with your divorce attorney and real estate agent: They can help you understand your rights, protect your interests, and ensure your purchase aligns with your divorce proceedings. Check your credit score: Divorce proceedings and unpaid joint debts can impact your credit , affecting your mortgage rate and approval odds.

Debt-to-income ratio

Housing Wire

MARCH 30, 2021

At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score. Or, give up looking altogether.

Pre-qualification

HomeLight

JUNE 19, 2023

Like pre-qualification or pre-approval. Let’s lay it all out: How pre-qualifications and pre-approvals are similar Pre-qualifications and pre-approvals have a few things in common. Learn More What’s a pre-qualification? But what exactly are they?

Pre-qualification

Housing Wire

FEBRUARY 14, 2024

“Soft credit pulls are a critical tool that our member mortgage loan originators use to work with underserved borrowers — particularly borrowers with credit blemishes — to improve their credit score and ultimately obtain a pre-qualification or an actual mortgage loan,” the CHLA wrote in a letter to the three credit bureaus on Wednesday.

Pre-qualification

Housing Wire

JULY 4, 2024

It may mean drilling down and familiarizing yourself, and your potential clients, with the ins and outs of credit repair, loan pre-qualification and pre-approval, and even basic personal finance and budgeting. Embracing change The future of the real estate market is inevitably different from the past.

Pre-qualification

Housing Wire

DECEMBER 28, 2023

It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings. In October, 67% of current LOs produced less than one unit of closed loans in October. An additional 21% closed 1.5 units per month and only 12% closed greater than 2.5

Loans

Housing Wire

AUGUST 31, 2020

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics. And it’s Day 1 Certainty approved.”. Automation and standardization are key components. But we don’t.

Pre-qualification

Realtor.com

JANUARY 16, 2023

. “While you do not ‘need’ a pre-approval letter from your lender in order for your offer to be accepted, I highly recommend all of my buyers present it,” says Denise Shur , a Realtor® with 1:1 Realty in San Jose, CA. ” What is mortgage pre-approval? .”

Mortgage pre-approval letter

Housing Wire

MAY 12, 2022

But it’s also possible for a homebuyer to apply and receive approval on a mortgage loan without them ever actually speaking with another human. Yes, a customer should be able to fill out a pre-qualification application digitally. Yes, a customer should be able to upload documents to a portal or receive a digital approval letter.

Lending

Housing Wire

APRIL 22, 2024

Starting from: $ 235 Visit OnlineEd Also Popular Kaplan Real Estate Education Best for career mentorship Pre-recorded video content led by experienced industry leaders. Final Exam: After completing your prelicensing course, you will take a closed-book final course exam. Easy access to instructors to ask for help.

Pre-approval

Realtor.com

AUGUST 13, 2020

Step 1: Getting mortgage pre-approval. Step 3: Closing the deal. Still other buyers might also be home sellers who first need to close on the sale of their old house before they can buy their next house. Step 1: Get pre-approved for a mortgage. Step 3: Prepare for closing day.

Pre-approval

Housing Wire

DECEMBER 29, 2023

With so many approved, online options to choose from, we’ve pinpointed the best online real estate courses in New York using criteria that matter most to you: flexibility to fit your schedule, a price that fits your budget, and a course that’ll prepare you to ace the exam and start your new career with confidence and industry savvy.

Pre-approval

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer.

Pre-qualification

Windemere Buying

FEBRUARY 24, 2021

To set yourself up for a smooth and successful home purchase , getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process. Pre-approval The pre-approval process is more involved than pre-qualification.

Pre-approval

Realtor.com

NOVEMBER 11, 2022

Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more. Step 2: Qualify for a home loan or loan pre-approval.

Pre-approval

HomeLight

OCTOBER 22, 2021

It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. How much are closing costs?

Pre-qualification

Windemere Buying

JUNE 7, 2021

Getting pre-approved is a great first step for buyers, but there can be a number of hurdles in the process. Pre-approval is broken down into two steps: pre-qualification and pre-approval. Large cash purchases decrease a buyer’s cash-readiness from the time when they were pre-approved.

Pre-approval

Realty Biz

MARCH 17, 2021

Know what must happen in order to close, or you won’t make the sale. Explain the difference between pre-qualified and pre-approved. Too many people get a pre-qualification letter from their bank and think that this means they can close on the property. Help them get pre-approved for a mortgage.

Pre-approval

RIS Media

OCTOBER 22, 2020

Evaluate your current credit situation and make a game plan to clean up your credit score, if needed, prior to starting the pre-approval process.” Have your buyers speak with different lenders to get the lowest possible rate, and have them ask questions about interest rate, down payment amount and estimated closing costs.

Pre-qualification

Lighter Side of Real Estate

NOVEMBER 20, 2024

You can browse listings from your couch, get pre-approved for a mortgage, and even apply for mortgages with a few taps right online, all without speaking to a single person. From pre-approval to closing, they’re with you every step of the way, answering questions and ensuring no detail is overlooked.

Pre-approval

HomeLight

FEBRUARY 12, 2021

As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. Sellers must complete major repairs before closing. Defective paint surfaces in homes constructed pre-1978.

FHA loan

Realty Biz

DECEMBER 10, 2020

It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. As such, this qualification process will only give you a rough idea of the size of mortgage you can get. Comparing a Mortgage Preapproval to Full Approval. The Mortgage Pre-approval Process.

Loans

Lighter Side of Real Estate

JANUARY 24, 2024

Unless you come into a windfall of money, most people need to get a mortgage in order to buy a home, so getting a mortgage pre-approval to find out how much a lender will allow you to spend is the first step. Lenders will look at your credit history much more closely. than you thought you could afford. Your job history.

Pre-approval

BAM Media

JULY 2, 2024

It’s an acronym that provides a framework for conversations around buyer qualification. I’m not a big fan of asking, “ Hey, are you pre-approved ? If they say no, and they’ve been pre-approved with enough cash to put down, great! Most of us know what LPMAMA stands for. Would you like one?”

Pre-approval

Realtor.com

FEBRUARY 28, 2021

Although there are factors when competing with other buyers that are beyond your control, there is one step that will give you an edge: Start your home search process by getting a Verified Approval Letter (VAL), an underwritten offer that shows sellers your financing is verified. Any extra certainty helps.

Pre-approval

CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. There is a huge difference between a pre-qualification and a pre-approval. Up until the time the closing paperwork is signed and the deal is done, nothing is official.

Earnest money deposit

Realty Biz

MARCH 30, 2023

To get the best rate for your situation, be sure to look closely at each type of mortgage. Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process.

Mortgages