The Mortgage Report

JULY 11, 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? How Much Home Can I Afford? In May, active listings rose 31.5% year-over-year, pushing the number of homes for sale above 1 million for the first time since the winter of 2019.

FHA 203k rehab loan

Marco Santarelli

MAY 27, 2025

The rate you ultimately secure will depend on factors like your credit score, income, debt-to-income ratio, and the size of your down payment. Get Pre-Approved: Getting pre-approved for a mortgage gives you a better idea of how much you can afford and strengthens your negotiating position.

Mortgages

The Mortgage Report

JULY 24, 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? This tells you how expensive housing has become compared to income. Personal finance expert Aimee Frey , on the other hand, interprets these findings a bit more critically.

FHA 203k rehab loan

Redfin

JULY 2, 2025

Probationary period If your new job has a probationary or trial period, lenders may wait until it’s over before approving your mortgage. Some may approve with conditions or ask for additional income documentation. Avoid major financial changes (like buying a car or racking up debt) during the approval process.

Pre-approval

Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. The 28/36 rule is a common mortgage budgeting guideline.

Debt-to-income ratio

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?

Debt-to-income ratio

Rochester Real Estate

NOVEMBER 5, 2015

Before taking the time to grant a mortgage pre-approval , lenders evaluate this information. Whether you work with a mortgage broker or a bank , they will also consider your PITI when evaluating your ability to repay the loan, using metrics such as housing expense and debt-to-income ratios.

Debt-to-income ratio

Redfin

JULY 8, 2025

This means the lender is taking one final peek to ensure that: You haven’t taken on any new debts , such as opening a new credit card or financing a car, which could affect your debt-to-income ratio. Initial pre-approval (hard pull) This is your big one. It comes down to risk management.

Debt-to-income ratio

Marco Santarelli

DECEMBER 22, 2024

Debt-to-Income Ratio: Lenders prefer lower debt-to-income (DTI) ratios. This ratio compares your monthly debt payments to your gross monthly income. Choosing the Right Lender When looking for a mortgage lender, its advisable to apply for pre-approval with multiple companies.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Are your finances ready to buy a home, or will you be better off renting for a few more years? A pre-approval letter must be included, and proof of funds can also help in a seller’s market. Final Loan Approval Before you close on the home, avoid making any changes to your finances that could undermine your approval.

Purchase and sale agreement

Redfin

JULY 30, 2025

Lower your debt-to-income ratio: Paying down existing debt can improve your financial profile, helping you qualify for lower interest rates. Should I get pre-qualified or pre-approved for a mortgage? If you’re considering buying a home, you’ve likely heard of getting pre-qualified or pre-approved.

Pre-approval

Redfin

JULY 14, 2025

Debt-to-income ratio (DTI) Your debt-to-income ratio (DTI) compares your monthly debt payments, including student loans, car payments, and more, to your gross monthly income. Get pre-approved early: Pre-approval gives you a clear budget and shows sellers you’re a serious buyer.

Debt-to-income ratio

Marco Santarelli

APRIL 24, 2025

Income: Lenders want to see that you have a stable income and can comfortably afford your mortgage payments. Debt-to-Income Ratio (DTI): This compares your monthly debt payments to your gross monthly income. A lower DTI is generally better. Loan Type: Different loan types (e.g.,

Mortgages

Redfin

JULY 7, 2025

From untangling shared finances to understanding how property division works in your state, there are legal, financial, and emotional factors to consider before moving forward. Document everything: Keep detailed records of your finances and communications related to the purchase to protect yourself during the divorce process.

Debt-to-income ratio

Redfin

MARCH 4, 2025

A 401(k) is a type of retirement savings account, where you elect a certain portion of your income to go into the account. The difference between these two accounts is that traditional 401(k) contributions are pre-tax, so youll be taxed once taking them out. How does withdrawing from a 401(k) affect mortgage approval?

Debt-to-income ratio

Redfin

JULY 3, 2025

A home can provide a fresh start, but buying too soon can create complications if your divorce isn’t fully settled or if your finances aren’t yet stable enough for a mortgage. Some lenders may require a finalized divorce decree before approving a mortgage, as this document outlines debt and asset division, alimony, and more.

Debt-to-income ratio

Marco Santarelli

JUNE 17, 2025

These rates often come with catches like: Paying points upfront Requiring an exceptionally high credit score Being limited to very small loan amounts Remember, the rate you actually qualify for will depend on your individual circumstances, including your credit score, income, debt-to-income ratio, and the size of your down payment.

Mortgages

Marco Santarelli

JULY 11, 2025

This includes credit score, income, debt-to-income ratio, down payment, and the type of loan you choose. Get Pre-Approved: This shows sellers that you’re a serious buyer. The Rates You See Here Are Averages It's important to emphasize that the rates I'm discussing in this article are averages.

Mortgages

Redfin

JUNE 23, 2025

The income needed for a $400k mortgage comes down to a few factors, like your down payment, DTI, credit score, and even your location. Whether you’re house hunting for a condo in Boston, MA or a home in Phoenix, AZ, understanding how your finances impact affordability can help you plan wisely.

Debt-to-income ratio

Marco Santarelli

MARCH 20, 2025

Debt-to-Income Ratio (DTI): Lenders assess your DTI to determine your ability to manage your debt obligations. A lower DTI , indicating that you have a comfortable amount of income relative to your debts, is viewed favorably and can help you qualify for a more attractive interest rate.

Mortgages

Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. The 28/36 rule is a common mortgage budgeting guideline.

Debt-to-income ratio

Marco Santarelli

JUNE 5, 2025

Remember, your actual mortgage rate will depend on your individual factors like: Credit score Income Debt-to-income ratio Down payment amount Factor in All the Costs: Playing With the Numbers Getting a low interest rate is great, but it's only one piece of the puzzle. Get pre-approved.

Mortgages

The Mortgage Report

JULY 16, 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? Lender approval is required, and qualifying alone can be tough without solid income and credit. How Much Home Can I Afford? Ask if your mortgage is assumable.

FHA 203k rehab loan

Marco Santarelli

MAY 9, 2025

Personal Financial Profile : Your credit score, debt-to-income ratio, and the size of your down payment also influence your individual mortgage rate. Should you be early in the home-buying process, applying for pre-approval will allow you to receive estimates of rates while still searching for properties.

Mortgages

Marco Santarelli

MAY 9, 2025

Personal Financial Profile : Your credit score, debt-to-income ratio, and the size of your down payment also influence your individual mortgage rate. Should you be early in the home-buying process, applying for pre-approval will allow you to receive estimates of rates while still searching for properties.

Mortgages

Housing Wire

MAY 7, 2025

Ive had clients come in looking to restructure their debt some are refinancing personal loans or extending their car loan terms just to make room in their monthly budget for the reinstated student loan payments. The appetite for new mortgages is going to go down for a decent chunk of consumers.

Loans

Housing Wire

JANUARY 20, 2021

To find a qualified lender, you need a good credit score and a good debt-to-income ratio, which is the percentage of a consumer’s monthly gross income that goes to paying down debt. Before you start searching for a lender, check your credit score and debt-to-income ratio.

Debt-to-income ratio

Housing Wire

MAY 24, 2024

If you’re considering buying a home but worry that student debt will prevent you from securing a mortgage, you’ll need to be strategic about your approach to increase the probability of your application getting approved. Student loan debt may affect your home-buying goals in a few key ways.

Debt-to-income ratio

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. Mortgage credit availability remains tighter than it was pre-pandemic.

Debt-to-income ratio

Housing Wire

NOVEMBER 8, 2021

Often times I’ll come in on a Monday and I’ll have emails saying that clients put offers in on homes and had them accepted even though we didn’t write up a pre-approval level,” Naumovych said. Alex Naumovych, a loan officer at Draper & Kramer , has noticed similar trends in his work at a lender.

VA loan

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. The philosophy was that no credit wasn’t necessarily bad credit and underwriters could make judgement calls in order to approve a loan.

Purchase and sale agreement

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

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. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

Pre-approval

Housing Wire

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. Flávia Nunes: Better took nearly two years to go public, with Aurora’s shareholders’ merger approval extended three times. This interview has been condensed and edited for clarity.

Debt-to-income ratio

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. Once this process is complete, the lender will provide you with a pre-approval letter. Calculate the Debt-to-Income Ratio.

Pre-approval

Lighter Side of Real Estate

SEPTEMBER 23, 2021

Increasing the balances on your credit cards can impact your debt-to-income ratio, which plays a major role in determining whether you’re approved for a mortgage—and, if so, how much. Shopping for homes before getting pre-approved for a mortgage. wait until after you’ve successfully purchased your home.

Debt-to-income ratio

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 1: Why financing is the key to buying a new home. Step 1: Why financing is the key to buying a new home. Step 2: Qualify for a home loan or loan pre-approval.

Pre-approval