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 435

Lending Mortgages Due diligence Debt-to-income ratio 435

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. In this case, having an attorney run a title search will be critical. Making the Offer.

Debt-to-income ratio 118

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

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. Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear. Delayed approvals from Homeowners Associations.

Closing 61

Closing Title search Purchase and sale agreement Title 61

HomeLight

JULY 29, 2022

This can radically alter their debt-to-income ratio and jeopardize the whole deal. That likely went right to your lender, so ask to get a copy from either them or directly from the title company. These are the properties where there’s a strong possibility there could be a cloud on the title.

Closing 103

Closing Purchase and sale agreement Title Home sale contingency 103

The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98