Housing Wire

MAY 4, 2022

A housing bubble can generally be defined as an unsustainable period of house price growth generated by artificial demand, as was the case in the mid-2000s when demand surged because of wider access to mortgage financing. Tighter mortgage underwriting : Lending standards are much tighter today than during the mid-2000s.

Debt-to-income ratio 381

Debt-to-income ratio Equity Pre-approval Finance 381

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

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 394

Debt-to-income ratio Lending Pre-qualification Loans 394

Housing Wire

JUNE 29, 2022

As market volume dips and pent-up demand builds, 61% of millennials and Gen Zs who intend to buy a home plan to apply for a mortgage this year. As mortgage rates rise, inventory remains low and digital trends accelerate, navigating the changing borrower landscape requires tailored strategies.

Debt-to-income ratio 427

Debt-to-income ratio Loan Officer Loans Mortgages 427

Housing Wire

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. ” And what is Better.com best at? It incurred an $89.9

Debt-to-income ratio 370

Debt-to-income ratio Technology Mortgages Pre-approval 370

Realty Biz

FEBRUARY 22, 2024

Glossy online listings behind your computer screen might fuel your dream home fantasy, but the home-buying process truly begins in earnest when a lender is contacted to be pre-approved for a mortgage. A credit score of 620 or higher is recommended to qualify for a mortgage, and a higher one will qualify you for better rates.

Pre-approval 82

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

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. Mortgage Options During Chapter 13 Bankruptcy.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Realtor.com

FEBRUARY 2, 2023

Whether you choose to lease or finance a car, you’ll increase your total monthly expenses. However, mortgage lenders view leasing and financing a car differently,” says Ashley Moore , community lending manager at Chase Home Lending. Does leasing a car hurt your chances of buying a home?

Debt-to-income ratio 75

Debt-to-income ratio Loans Lending Finance 75

Realty Biz

SEPTEMBER 5, 2023

One crucial aspect of this process is ensuring that your finances secure a mortgage and make the dream of homeownership a reality. We will delve into essential strategies to improve your finances, focusing on utilizing tools like Credit Karma or Credit Sesame to prepare yourself for purchasing a house.

Debt-to-income ratio 92

Debt-to-income ratio Pre-approval Finance Bankruptcy 92

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 368

Marketing Debt-to-income ratio Loans Mortgages 368

Realtor.com

JANUARY 10, 2023

fizkes/iStock This may indeed be the case if you’ve found that perfect house, only to have lenders inform you that you don’t qualify for a mortgage. Even if you know how to scrimp and save to make your monthly mortgage payments, the bank doesn’t know how well you pinch pennies. Enter the co-signer.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

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 395

VA loan Agents Pre-approval Debt-to-income ratio 395

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

HomeLight

JANUARY 17, 2024

Here are some common reasons why you might decide to back out of a home purchase: Your loan financing fell through: It’s not uncommon for a mortgage loan to be initially approved but later denied due to changes in your financial situation or lending policies.

Purchase and sale agreement 97

Purchase and sale agreement Debt-to-income ratio Title search Finance 97

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

Realty Biz

DECEMBER 12, 2022

There is quite a bit to know about financing the purchase of a home. There are several things to consider when it comes to getting a mortgage. Most home buyers want to get the best mortgage rates and terms. We will cover everything you need to know about how to get a mortgage. What is a Mortgage? Let's dig in.

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 88

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

Realtor.com

NOVEMBER 2, 2020

While freelancing undoubtedly has its perks, helping you get a mortgage is not one of them. Since COVID-19 started tearing through the country in March, we’ve heard reports of freelancers having an even harder time getting approved for mortgages. Getting a mortgage as a freelancer (pre-coronavirus). What’s changed. Yes and no.

Debt-to-income ratio 144

Debt-to-income ratio Pre-approval Mortgages Banks 144

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 you’ve had changes in your finances. Mortgage rates are constantly changing.

Pre-approval 97

Pre-approval Debt-to-income ratio Mortgages Marketing 97

HomeLight

JANUARY 29, 2024

It’s a creative option to battle high interest rates, monthly income limitations, or hurdles like low credit scores and stringent lending criteria. High debt-to-income ratio: Traditional lenders often shy away from borrowers with high debt-to-income ratios. homeowners.

Equity 102

Equity Debt-to-income ratio Loans Closing costs 102

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

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. The lending institution can also stop the transaction. .

Debt-to-income ratio 144

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

Realtor.com

NOVEMBER 9, 2022

Getty Images You might have heard it’s more challenging to get a mortgage if you’re self-employed. Namely, you’ll have to gather a bunch of paperwork to validate your income and self-employment history. Mortgage basics for self-employed borrowers. Lenders look at your income differently.

Debt-to-income ratio 95

Debt-to-income ratio Loans Banks Mortgages 95

Realty Biz

MARCH 28, 2023

Owner-occupied homes are ideal for real estate investors because they can help you meet your investment goals in several different ways, most often through advantageous financing options. However, with an owner-occupied home, you’ll still have opportunities to create rental income by providing unused spaces to tenants for rent.

VA loan 76

VA loan FHA loan Debt-to-income ratio Investor 76

Realty Biz

MARCH 7, 2023

Suppose you’re set on financing your first home in 2023. Then, you may have realized that your credit history and low income might not make you eligible for a traditional loan or bank mortgage. In that case, low-income housing programs will come to your rescue! What factors weigh in as your income?

Loans 74

Loans Debt-to-income ratio Closing costs Lending 74

Realtor.com

JANUARY 19, 2022

Quite apart from the emotional loss, it can be difficult to have to handle your finances suddenly on your own, including your home mortgage. While this is not an easy payment to face, remember that federal law prohibits lenders from requiring the surviving spouse to pay the entire mortgage amount due upon a spouse’s passing.

Debt-to-income ratio 98

Debt-to-income ratio Title Equity Loans 98

Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. But it turns out there are a few paths you can still take.

Loans 133

Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

Rent, Buy & Sell

FEBRUARY 7, 2021

In this article, we review 3 alternative financing options for the home buyer that has bad credit. As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. What is a Bad Credit Score?

Loans 98

Loans VA loan FHA loan Hard money loan 98

Realtor.com

JANUARY 31, 2022

Then comes your first baby: a home with a mortgage. “Newly married couples may need to undergo a process to combine their households,” says Shelby McDaniels , channel director for corporate home lending at Chase. So here’s what you need to know about the right ways to refinance your mortgage loan as a couple.

Debt-to-income ratio 76

Debt-to-income ratio Lending Loans Title 76

Realtor.com

FEBRUARY 11, 2021

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. Will you even qualify for a mortgage? Unless you have enough money in the bank to buy a house with cash, you’ll need a mortgage. based in Troy, MI. “Job based in Troy, MI.

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

Lighter Side of Real Estate

AUGUST 5, 2020

If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Try to mislead the mortgage company. So make sure you tell the truth, it’s the only way to go.

Pre-approval 145

Pre-approval Debt-to-income ratio Title search Finance 145

HomeLight

MAY 26, 2021

She also conducts monthly webinars for first-time homebuyers with the New Jersey Housing and Mortgage Finance Agency and the Puerto Rican Action Board. While some mortgages allow you to put between 3% and 5% down, you need to know where to look. Another big plus of a VA loan is that you don’t have to pay mortgage insurance.

Debt-to-income ratio 91

Debt-to-income ratio Closing costs VA loan Loans 91

HomeLight

OCTOBER 15, 2020

You’ve worked hard to improve your credit score , pay down your debts, and save up for a healthy down payment. Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. Fannie and Freddie are government-sponsored entities (GSE) that back most of the mortgages in the U.S.

Loans 95

Loans FHA loan Debt-to-income ratio VA loan 95

HomeLight

OCTOBER 27, 2020

The first reason is privacy — you might not want your lending company to have access to all of your financial details, for example. What’s a qualified mortgage loan? . It’s a mortgage that follows rules set out by the Consumer Finance Protection Bureau (CFPB) under the Dodd-Frank Act of 2011.

Debt-to-income ratio 104

Debt-to-income ratio Pre-approval Pre-qualification Loans 104

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 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

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. I think it comes down to a core principal: IMBs only do mortgages. Unlike banks, they don’t do auto loans, credit cards, student loans, business lending, lines of credit and more.

Banks 362

Banks Debt-to-income ratio Lending Loans 362

Redfin

MAY 11, 2022

Mortgage lenders and the Federal Housing Administration (FHA) look at a credit score range when considering a home mortgage loan. A credit score between 580-669 ranks your credit as “fair” and is regarded as a higher risk for a mortgage lender. Doing this also has a positive impact on your debt to income ratio (DTI).

Pre-approval 65

Pre-approval Debt-to-income ratio VA loan FHA loan 65