Housing Wire

SEPTEMBER 27, 2023

. “The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” CFPB Director Rohit Chopra said in a statement. “These trends are likely to continue given further increases in interest rates in 2023.”

Debt-to-income ratio 431

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 431

Realty Biz

MARCH 15, 2023

With changes in the housing market, you might question whether it is a good time to buy a house. What happens in the housing market is important, but your financial situation and whether you are ready to buy a home should be more influential in your decision. Don't assume the national headlines apply to your local market.

Debt-to-income ratio 112

Debt-to-income ratio Fixed-rate mortgage Mortgages Loans 112

Marco Santarelli

OCTOBER 15, 2023

If you are thinking of buying a home or refinancing your existing mortgage, you might be wondering why mortgage rates are so high in 2023. Mortgage rates have been climbing steadily since December 2021, when they hit a record low of 2.97%. Why are Mortgage Rates Going Up in 2023?

Mortgages 52

Mortgages Debt-to-income ratio Fixed-rate mortgage Loans 52

Windemere Selling

JUNE 13, 2022

Homeowners can often reach a financial fork in the road when they must decide to either refinance their existing mortgage or sell their home. Each route has its respective advantages depending on your financial health, the mortgage rate market , and the future needs of your household.

Debt-to-income ratio 52

Debt-to-income ratio Fixed-rate mortgage Loans Principal 52

Realty Biz

JUNE 15, 2022

A fixed-rate mortgage is stable for 15 to 30 years, but rents may increase on average as much as 5% per year. . Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Student Loan Debt Must Be Paid off.

Debt-to-income ratio 97

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 97

HomeLight

OCTOBER 15, 2020

Maximum debt-to-income ratio of 43% (this is known as DTI, and it looks at how much debt you pay each month versus how much income you bring in). Minimum down payment amount of 5% (or even as low as 3% for certain programs for low- to middle-income borrowers). Fixed-rate mortgage.

Loans 97

Loans FHA loan Debt-to-income ratio VA loan 97

Realty Biz

SEPTEMBER 30, 2023

In addition to credit scores, lenders also consider factors such as your income, employment history, savings, current debts, and the value of the home you intend to purchase. Demonstrating a stable income, sufficient savings, and a low debt-to-income ratio can strengthen your mortgage application, even with a low credit score.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Redfin

JULY 11, 2023

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. How is a mortgage rate determined?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

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

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Redfin

FEBRUARY 11, 2021

When you apply for a mortgage , your lender may ask if you’re going to put up 20% of the home’s sale price as a down payment. Depending on your local housing market , this can be a significant amount that not every homebuyer can afford. These borrowers often carry large student debts, which skew their debt-to-income ratio.

Debt-to-income ratio 64

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 64

HomeLight

JUNE 22, 2023

To help you understand exactly what you’re getting into, we’ve created a comprehensive guide that answers the most common mortgage questions buyers have for lenders about the mortgage process. Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts.

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HomeLight

JANUARY 27, 2021

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. They’ll have specialized market information that others won’t. It’s an exciting step in life, to be sure.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

Fixed-rate mortgage 64

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Realty Biz

DECEMBER 30, 2022

The big benefit of going with a conventional mortgage is that it's often going to allow you to get the lowest interest rates possible. You will, however, be able to choose between either a fixed-rate or an adjustable-rate mortgage, and it's going to impact the interest rate on your home loan.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

Point2Homes

NOVEMBER 8, 2020

As tempting as the current low rates are, it’s best to start off by asking yourself how refinancing your mortgage will benefit you. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage? Perhaps you’re looking for a lower interest rate, or to turn your 30-year loan into a 15-year one.

Debt-to-income ratio 75

Debt-to-income ratio Mortgages Fixed-rate mortgage Closing costs 75

HomeLight

AUGUST 28, 2020

homeowners don’t even know what their mortgage rate is , much less how it’s factored. We spoke to John Boyles, HomeLight’s Head of Capital Markets, to walk us through the basics of mortgage rates, so you can make an informed decision when it comes to your home purchase. GSEs and secondary mortgage markets.

Mortgages 88

Mortgages Loans Fixed-rate mortgage Principal 88

Real Estate Finance HQ

AUGUST 25, 2017

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. Debt-to-income ratio. The FHA allows a debt-to-income (DTI) ratio of 41% on their mortgages (most conventional loans allow only 36%). Fixed Rate Mortgages.

FHA loan 40

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HomeLight

MARCH 11, 2022

For buyers, that’s not always good news: Massachusetts’ popularity means the state has a competitive housing market. Both Boston and Cambridge host strong, stable housing markets, and you’ll pay top dollar to live in either city. At the same time, buyers should be thoughtful about this state’s rural housing market.

Closing costs 99

Closing costs Debt-to-income ratio Fixed-rate mortgage Loans 99

HomeLight

NOVEMBER 29, 2021

Unfortunately, a tight real estate market with little inventory can make it challenging to find a house that fits your budget. In today’s market, it’s not uncommon for sellers to get multiple offers, which can result in a bidding war,” he explains. “A Source: (Joey Pedras / Unsplash). What determines home prices? Homeowners taxes.

Land 96

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The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. It’s often presented as a percentage of the fair market value. Assignment.

Purchase and sale agreement 98

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