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? Buyers should also save for a down payment while waiting.

Finance

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

MAY 25, 2022

In a housing market vastly different from the pre-pandemic period, how can industry professionals position themselves to achieve growth despite these current obstacles? When it comes to business growth this year and beyond, industry experts agree that 2022 is the year of the non-qualified mortgage (non-QM) loan.

Debt-to-income ratio

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. Often, lenders do a pre-qualification that is strictly based on the information that the client gives the lender.

Debt-to-income ratio

HomeLight

AUGUST 31, 2020

VA loans also offer even more benefits, like better interest rates and less strident qualifications — but as the name indicates, they are only available to current military members or veterans (or their spouses). For example, pre-pandemic, an FHA loan could be secured with 3.5% down and a minimum credit score of 580.

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. The process can be both exciting and perhaps a bit intimidating for some people.

Pre-approval

HomeLight

JULY 30, 2021

New Mexico agent Valerie Almanzar , who has more than 15 years of experience in the real estate industry, says that while rent-to-own properties aren’t the norm these days, they can and do still happen. “If The seller can determine the terms of the option, which may or may not include a pre-set purchase price for the home.

Purchase and sale agreement