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

Rochester Real Estate

NOVEMBER 5, 2015

The authors of these articles are some of the best writers in the mortgage and real estate industries. ” is an extremely common question in the mortgage and real estate industries. Have you tried calling a bank on a Saturday night to get a pre-approval letter?

Finance

Marco Santarelli

JUNE 5, 2025

State Regulations: State-specific laws and regulations governing the mortgage industry can also play a role in determining interest rates. Get pre-approved. Average Loan Size: The average loan size in a state can also influence rates. Larger loans may come with slightly different rates than smaller ones.

Mortgages

Housing Wire

DECEMBER 11, 2024

Mortgage industry advocates including the Mortgage Bankers Association (MBA), CHLA and others were encouraged by the addition in September of a separate bill to the NDAA that would have banned the practice of trigger leads. Lenders do not receive this data in the trigger lead process.

Debt-to-income ratio

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

Housing Wire

NOVEMBER 8, 2021

A lot of the rules have relaxed over the past several years, but people always tend to remember the negative things so that is what has spread throughout the industry.”. We work hard to get our buyer approved at the lowest rate and if they have credit problems we will put them in touch with the right people to get their credit restored.

VA loan

Housing Wire

AUGUST 23, 2023

Flávia Nunes: Better took nearly two years to go public, with Aurora’s shareholders’ merger approval extended three times. In that time, the market, the industry and the consumer changed dramatically. Garg: It took us six years to do $100 billion of refinances and to build an industry leader in refinances.

Debt-to-income ratio

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

BAM Media

JULY 2, 2024

I’m not a big fan of asking, “ Hey, are you pre-approved ? Instead, ask, “What money do you have allotted to put towards the home purchase?” Then the next question is— “Have you spoken to anybody about the financing?” Not “Are you pre-approved?” Don’t ask: “Are you preapproved?” Would you like one?”

Pre-approval

McKissock

JANUARY 31, 2021

Maybe they made a new purchase and their debt to income ratio is too high. Or maybe the underwriter feels that their income and credit score isn’t high enough. Ensure Your Lender Does a Credit Approval for Your Clients. When this happens, the lender will give an approved amount, and then you begin shopping.

Debt-to-income ratio

Lighter Side of Real Estate

JANUARY 24, 2024

Unless you come into a windfall of money, most people need to get a mortgage in order to buy a home, so getting a mortgage pre-approval to find out how much a lender will allow you to spend is the first step. How much other debt you have to pay each month. than you thought you could afford.

Pre-approval

RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. Something can come up (such as an unanswered financial obligation or a significant purchase before the closing that changes the debt-to-income ratio) and put a home back. . Low appraisal.

Debt-to-income ratio

HomeLight

AUGUST 31, 2020

You may have a preapproval, but a preapproval does not guarantee formal loan approval. During the coronavirus pandemic, for example, many lenders imposed overlays (an overlay happens when a lender sets extra qualifications on top of the industry-wide guidelines, making it harder to qualify for a mortgage). What’s the bottom line?

Debt-to-income ratio

RIS Media

MAY 11, 2022

AAPI demand for housing is high: 65% of real estate professionals working with Asian buyers say demand for housing is greater than pre-pandemic. Freddie Mac, which partnered with AREAA on this year’s State of Asia report, provided insights into indicators that affect mortgage approval rates among the AAPI community.

Debt-to-income ratio

Realty Biz

SEPTEMBER 30, 2023

They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval. Tougher loan approval: Lenders may be hesitant to approve a mortgage application from someone with a low credit score.

Finance

Redfin

FEBRUARY 10, 2021

Luckily, Redfin chief economist Daryl Fairweather gives us her keen insights into what the housing industry is doing in 2021. “ Have a Healthy Debt-to-Income Ratio (DTI). Another key component banks consider when issuing loans, is your debt-to-income ratio. Get Pre-approved.

Debt-to-income ratio

Redfin

JULY 11, 2023

Technological advancements have greatly simplified the document submission process for borrowers in the mortgage industry,” shares Ron Haddad Lending Team. How does the mortgage pre-approval process work? Mortgage pre-approval is a crucial step in the homebuying process.

Pre-approval

HomeLight

MAY 31, 2021

One of the first things you’ll want to know is just how much house you can afford , which is based on your income, credit score, debt-to-income ratio (DTI), and savings amount (including your down payment). I had some clients a few years ago that had trouble qualifying because they had a lot of debt.

Mortgages

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. Determine your debt to income ratio (DTI).

Debt-to-income ratio

The Close

FEBRUARY 20, 2024

This means you’ve got a pre-approval in hand and that you understand the importance of being flexible. When lenders look at approving buyers for a mortgage, they traditionally calculate the monthly payment amount to stay within a certain debt-to-income ratio. Want more real estate statistics ?

Marketing

Redfin

MAY 5, 2023

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. Start with the Fort Worth Stockyards, a historic district that celebrates the cattle industry with rodeos, cattle drives, and western-themed shops.

Purchase and sale agreement

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. Get pre-approved from a lender Getting pre-approved from a lender is equally important with several significant benefits.

Pre-approval

HomeLight

OCTOBER 29, 2021

There are plenty of mortgage loan calculators to be found online, and generally speaking, lenders don’t want to see your total debt, including your mortgage payment, exceed 45% of your income; some borrowers can go up to 50%. This is known as your debt-to-income ratio (DTI).

Inspection

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. If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Debt-to-income ratio (DTI).

Purchase and sale agreement

Housing Wire

FEBRUARY 6, 2023

But to make matters worse, the new matrix includes a TRID poison pill that could impact regulatory compliance, but more importantly surprise and anger homebuyers as they go through the process of loan approval. 25% – 375% should their debt-to-income ratio drift above 40%.

Debt-to-income ratio