Housing Wire

MARCH 23, 2021

Fortunately, fintech innovation is helping lead the way with methods to detect inconsistencies in the due diligence process, such as drawing data directly from banks (with the borrower’s consent) and eliminating the need for written statements. There were enough significant findings to make these loans unsalable.

Lending 450

Lending Mortgages Due diligence Debt-to-income ratio 450

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

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

Realty Biz

MARCH 16, 2023

Your debt-to-income ratio, including mortgage payments, cannot normally be more than 43% of your monthly income If you have suffered bankruptcy, you will need to wait 2 years to apply, or 3 years with a foreclosure FHA vs. Final Thoughts on FHA Loans FHA loans are one of the best mortgage programs for first-time home buyers.

FHA loan 89

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

HomeLight

JUNE 19, 2023

So whether you’re looking at a lease purchase or a lease option, it’s best to do your due diligence before getting too far. Pay down credit card debt (to get your debt-to-income ratio below 43% ). In addition, you’ll want to have any inspections , appraisals , and testing done prior to signing the contract.

Purchase and sale agreement 102

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

HomeLight

JANUARY 27, 2021

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.”. And even after providing all your information, the lender may come back needing more.”. Keeping the deal ticking along.

Agents 83

Agents Purchase and sale agreement Debt-to-income ratio Due diligence 83

Redfin

MARCH 3, 2022

Any changes in your debt-to-income ratio or credit score could cause issues with your loan application, which increases the chance of a delayed closing. Douglas Toland Jr of Performance Mortgage suggests that buyers avoid making any changes to their credit reports before the deal has gone through. How to remedy the situation.

Closing 62

Closing Title search Purchase and sale agreement Title 62