Housing Wire

DECEMBER 15, 2022

Mortgage lenders, already reeling from a downturn in the mortgage market , now face yet another wave of woe in the form of a huge volume of loan-repurchase requests stemming, in large part, from alleged violations of loan-sale pacts inked with Fannie Mae and Freddie Mac during the boom years of 2020 and 2021.

Loans 369

Loans Debt-to-income ratio Purchase and sale agreement Mortgages 369

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. A great agent also has relationships across the industry. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ!

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

AUGUST 28, 2020

If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? Mortgage rates are relatively complex. Who sets mortgage interest rates?

Mortgages 86

Mortgages Loans Fixed-rate mortgage Principal 86

Redfin

FEBRUARY 10, 2021

Luckily, Redfin chief economist Daryl Fairweather gives us her keen insights into what the housing industry is doing in 2021. “ In early 2021, homebuyers will remain undeterred by the pandemic, eager to take advantage of sub-3% mortgage rates while they last. Money that is not going against the principal of your mortgage.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

HomeLight

OCTOBER 15, 2020

While the USDA does not designate a minimum credit score, lenders will have a minimum requirement of typically 640,” explains mortgage loan officer Jane Hammond. It’s not just the dollar amount of what you earn, but also the specifics that comprise your income that count. For a USDA loan, you should have a minimum FICO score of 640.

Loans 84

Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 84

RIS Media

MARCH 10, 2022

CF: The lending industry is part of this. That’s kind of the marker in the industry for an agent who is really producing, and $9.5 CW: Sustainability is also on the minds of vendor partners like lenders and appraisers. Would you agree that plenty of people connected to residential real estate recognize that the stakes are high?

Debt-to-income ratio 94

Debt-to-income ratio Residential Industrial Principal 94

Realtor.com

JUNE 18, 2021

The changes, which were presented in a letter to lenders late Thursday, are intended to allow more borrowers to qualify for loans backed by the FHA, a unit of the Department of Housing and Urban Development that provides insurance on mortgages to first-time and lower-income home buyers. Some researchers say the phenomena are linked.

Loans 95

Loans FHA loan Debt-to-income ratio Equity 95

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. Adjustable-rate mortgage (ARM). Assumable mortgage. Amortization.

Purchase and sale agreement 98

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