Real Trends

MARCH 8, 2023

What do you do when your buyer’s financing is denied? The following tips are tried and true solutions to financing issues! The seller could also provide a second mortgage to create funds. Lenders require specific debt-to-income ratios in order to qualify a borrower for a mortgage loan.

Debt-to-income ratio 94

Debt-to-income ratio Finance Backup offer Agents 94

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Inman

MAY 10, 2023

Lending industry groups like the Mortgage Bankers Association called a fee based on borrower's debt-to-income ratio "unworkable."

Debt-to-income ratio 151

Debt-to-income ratio Lending Mortgages Industrial 151

Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

Pre-approval 93

Pre-approval Debt-to-income ratio Mortgages Loans 93

Housing Wire

JANUARY 14, 2022

While layoffs sweep the mortgage industry, particularly consumer-direct lenders, non-qualified mortgage (non-QM) lenders are going on a hiring spree. Non-QM lenders Angel Oak Mortgage , Acra Lending and Newfi alone currently have at least 130 openings on jobs listings sites. Riches in the niches. trillion in 2022.

Debt-to-income ratio 367

Debt-to-income ratio Lending Loans Loan Officer 367

Housing Wire

AUGUST 11, 2020

The Mortgage Bankers Association sent a letter on Monday to the Consumer Financial Protection Bureau asking for a six-month extension to the so-called “GSE patch” that allows Fannie Mae and Freddie Mac home loans to borrowers with high debt levels to be considered Qualified Mortgages.

Debt-to-income ratio 269

Debt-to-income ratio Mortgages Loans Investor 269

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. With an anticipated doubling in market share in 2022 , non-QM products are top of mind for almost every mortgage industry professional.

Debt-to-income ratio 398

Debt-to-income ratio Lending Pre-qualification Loans 398

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

Marketing 336

Marketing Debt-to-income ratio Loans Mortgages 336

Marco Santarelli

APRIL 28, 2023

The Federal Housing Finance Agency (FHFA) recently announced changes to the loan-level price adjustments (LLPAs) for borrowers with conventional mortgages backed by Fannie Mae or Freddie Mac. The changes, which are set to take effect on May 1, 2023, will impact the pricing structure of mortgages for borrowers.

Mortgages 98

Mortgages Debt-to-income ratio Loans Finance 98

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Lenders carefully assess tax returns and stable income to determine eligibility. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 412

VA loan Agents Pre-approval Debt-to-income ratio 412

Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. If it’s an upward or lateral career move within the same or similar industry, you should be fine.

Pre-approval 94

Pre-approval Debt-to-income ratio Mortgages Marketing 94

Realty Biz

JUNE 23, 2021

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. When looking for a mortgage broker Barrie homeowners who are having a hard time getting approved for a loan may want to consider a private mortgage lender.

Debt-to-income ratio 80

Debt-to-income ratio Mortgages Lending Banks 80

Broke Agent Media

JANUARY 9, 2023

The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost markets, making them more accessible to buyers. homes no longer require a jumbo loan for financing. . The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost U.S.

Loans 98

Loans Debt-to-income ratio Finance Loan Officer 98

RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. Most homebuyers can’t afford to carry two mortgages simultaneously.

Debt-to-income ratio 144

Debt-to-income ratio Title search Backup offer Home sale contingency 144

Realty Biz

JUNE 25, 2021

When most homeowners seek a mortgage, they go to a bank, credit union, or other financial institution, but sometimes, these lenders won’t lend them money for a variety of reasons. When looking for a mortgage broker Barrie homeowners who are having a hard time getting approved for a loan may want to consider a private mortgage lender.

Debt-to-income ratio 58

Debt-to-income ratio Mortgages Lending Banks 58

Broke Agent Media

JANUARY 9, 2023

The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost markets, making them more accessible to buyers. homes no longer require a jumbo loan for financing. . The Federal Housing Finance Agency (FHFA) increased conforming loan limits to $1,089,300 in some high-cost U.S.

Loans 52

Loans Debt-to-income ratio Finance Loan Officer 52

RIS Media

JUNE 5, 2021

Homeowners who haven’t capitalized on historically low mortgage rates are getting another chance to lower their monthly payments under Fannie Mae’s new RefiNow option. The organization launched the initiative on June 5 in collaboration with Freddie Mac and under the Federal Housing Finance Agency (FHFA). Benefits for Borrowers.

Debt-to-income ratio 111

Debt-to-income ratio Loans Mortgages Design 111

Broke Agent Media

FEBRUARY 13, 2023

BAM Key Details: Fannie Mae’s National Housing Survey shows homeowners are increasingly worried about the ability to save money and afford necessities, including mortgage payments. With inflation outpacing wage growth, many have had to resort to using their previously built-up savings while also taking on more consumer debt to cover expenses.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Finance Loans 98

HomeLight

AUGUST 31, 2020

USDA Rural Development loans also allow for 100% financing (or 0% down). Many offer down payment grants, no-down-payment mortgages, and low interest rates. It is worth noting that the FHA itself did not change any credit score requirements , so it is more important than ever to shop around for a mortgage. OK, it’s a good idea.

Debt-to-income ratio 66

Debt-to-income ratio FHA loan Pre-qualification VA loan 66

Inman

MARCH 17, 2023

Industry groups continue to object to a new Fannie and Freddie fee aimed at some riskier borrowers as a burden on lenders and consumers.

Mortgages 107

Mortgages Debt-to-income ratio Industrial Loans 107

Realty Biz

SEPTEMBER 29, 2022

Rising mortgage rates are continuing to slow housing market demand, resulting in slowing sales and less home price appreciation. . Over the last six months, mortgage rates started at about 3%, jumped to 3.5%, then leaped to over 4%, then up to 5%, and now appear to be firmly above 6.25%. From a Home Buyer’s Perspective.

Debt-to-income ratio 89

Debt-to-income ratio Development Loans Staging 89

Housing Wire

JULY 25, 2023

Though the policy has been credited with saving consumers billions of dollars, the insurance industry says it comes at the expense of accurate underwriting and actual pricing risks. Entry level homebuyers are getting hit hardest. “If

Marketing 355

Marketing Debt-to-income ratio Agents Construction 355

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? Source: (Gonzalo Facello / Unsplash). Conventional.

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

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. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 357

Closing Fixed-rate mortgage Debt-to-income ratio Lending 357

Marco Santarelli

APRIL 26, 2023

Housing market interest rates (or mortgage rates) play a crucial role in the decision-making process for both homebuyers and sellers. Interest rates play a crucial role in determining the affordability and availability of mortgages, which directly affect the buying power of potential homebuyers.

Marketing 52

Marketing Debt-to-income ratio Fixed-rate mortgage Banks 52

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. Take a good look at your monthly income and expenses. Student loans.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

HomeLight

JULY 31, 2020

HomeLight looked at the pros and cons of both larger and smaller down payments, interviewing real estate and mortgage professionals, as well as investigating statistics on just how much people are putting down on homes these days, all to help you decide what will work best for you when it comes time to make your home purchase.

Debt-to-income ratio 71

Debt-to-income ratio Loans Equity VA loan 71

Housing Wire

JUNE 9, 2023

More importantly, when it comes to the Ginnie Mae programs, banks contribute only 7% of all the mortgages by the FHA , VA , and USDA. Because the key regulators in Washington spend a lot of their time ingratiating themselves to the banking industry and lamenting about nonbanks. Or look at this data on DTI (debt to income ratio).

Banks 323

Banks Debt-to-income ratio Lending Loans 323

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

The Close

JUNE 22, 2023

This is because not only are there more neglected properties during recessions, it is nearly impossible to get traditional financing for this type of property when the real estate market is receding. This is because there’s an entire industry that buys and sells these homes off-market. Consider the 2008 recession.

Investor 116

Investor Debt-to-income ratio New Construction Construction 116

HomeLight

JULY 30, 2021

New Mexico agent Valerie Almanzar , who has more than 15 years of experience in the real estate industry, says that while rent-to-own properties aren’t the norm these days, they can and do still happen. “If And getting a mortgage? Source: (Valmedia / ShutterStock). What about the appraisal and inspections?

Purchase and sale agreement 98

Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

Broke Agent Media

MARCH 28, 2023

15% of buyers aged 43-57 wanted agents to help them find and arrange financing , compared to 2% of buyers aged 33-42 and 77-97, and 6% overall. 27% of buyers aged say their agent provided a better list of mortgage lenders , compared to 12% of buyers aged 58-67 and 18% overall. 3—How many agents did buyers contact before choosing one?

Agents 98

Agents Debt-to-income ratio Finance As-is 98

Redfin

MAY 5, 2023

However, due to the recent hike in mortgage rates, the market has experienced a slight decline, with median sale prices dropping by 2.5% You’ll fall in love with Austin’s thriving tech industry, world-class universities, breathtaking parks, and expansive lakes like Lake Travis and Lady Bird Lake.

Purchase and sale agreement 66

Purchase and sale agreement Pre-approval Seller disclosure Earnest money deposit 66

Broke Agent Media

MAY 11, 2023

The decision comes after the FHFA announced a delayed implementation to better understand the concerns of industry stakeholders. Industry professionals are rejoicing after the Federal Housing Finance Agency (FHFA) announced that it has rescinded upfront fees based on borrowers’ DTI ratio for loans acquired by Fannie Mae and Freddie Mac.

Industrial 98

Industrial Debt-to-income ratio Finance Loans 98

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. Obviously to anyone in the business that’s a big deal given that FICO is a threshold data point that determines eligibility for a mortgage.

Debt-to-income ratio 422

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 422

Redfin

JUNE 14, 2023

North Carolina housing market insights The housing market in North Carolina is a vibrant and flourishing industry that presents potential buyers with numerous choices. Firstly, having your finances in order allows you to determine your budget and understand how much you can comfortably afford to spend on a home.

Pre-approval 55

Pre-approval Debt-to-income ratio Closing costs Title 55