Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

VA loan

Housing Wire

AUGUST 7, 2023

Income and credit information are inputted into the AUS. Then, it makes a decision based on three primary factors: debt-to-income ratio (DTI), credit score and loan-to-value ratio (LTV). Borrowers with high loan-to-value ratios and lower credit scores are required to pay higher rates and fees for mortgages.

Closing

HomeLight

AUGUST 31, 2020

If you don’t have a lot of cash saved and you are a veteran or looking for a home a bit outside of the city, then you may qualify for no-down payment loans, such as a VA or USDA loan. You may have a preapproval, but a preapproval does not guarantee formal loan approval. For an FHA loan with a 3.5%

Debt-to-income ratio

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio

HomeLight

MARCH 9, 2023

These loans do not have a down payment requirement, but applicants must meet the following criteria: Less than 115% median household income for the area Live in the house as the primary resident Be a U.S. VA guarantees a portion of the loan, and lenders provide more favorable terms.

Loans

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Consider alternative mortgage options: If traditional mortgages don't work out, explore alternative options such as FHA loans, VA loans, or USDA loans.

Finance

Marco Santarelli

JANUARY 6, 2025

Today's Mortgage Rates: Understanding the Changes on January 6, 2025 Key Takeaways Today's average mortgage rates: 30-year fixed: 6.67% 15-year fixed: 6.00% 5/1 ARM: 6.68% VA loans: range from 5.63% to 6.08%. Lenders also consider debt-to-income ratios and down payment amounts when setting rates. by mid-2025.

Mortgages

Realty Biz

JULY 23, 2023

Self-employed individuals include freelancers, consultants, and independent contractors across various industries. The impact of self-employment on mortgage loans Being self-employed can have specific implications when applying for a mortgage. Understanding the available options can help navigate the loan process successfully.

Debt-to-income ratio

Redfin

SEPTEMBER 6, 2024

Debt-to-income ratio (DTI) The debt-to-income ratio is a key metric lenders use to evaluate how much of your monthly income goes toward debt payments. It is calculated by dividing your total monthly debt payments by your gross monthly income.

Debt-to-income ratio

HomeLight

JULY 31, 2020

One note: During riskier loan environments, such as during a recession, lenders will often protect themselves by increasing the standards required to get a mortgage loan. Conventional loans were more likely to have a 20% down payment, and VA loans averaged just 2% down. Image Source: (Shutterstock.com/SeaRick1).

Debt-to-income ratio

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

Government-backed loans, such as FHA or VA loans, provide more flexible qualification criteria and specific benefits. Technological advancements have greatly simplified the document submission process for borrowers in the mortgage industry,” shares Ron Haddad Lending Team.

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

HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. Among its attractive features?

Loans

HomeLight

JANUARY 27, 2021

A great agent also has relationships across the industry. VA loans : Finally, there are VA loans that have advantageous features for qualifying military service members and their spouses. Other features: VA loans are a great option for qualifying buyers because they have low rates and fees, and require zero down.

Closing costs

HomeLight

AUGUST 28, 2020

They play a vital role in keeping the money flowing in the mortgage industry. Thanks to GSEs, lenders are able to free up funds to create more loans, which then makes loans more accessible to the average American. Your debt-to-income ratio. Enter your debt-to-income (DTI) ratio.

Mortgages

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

Housing Wire

DECEMBER 4, 2024

Certain borrower groups are especially vulnerable, including those with lower credit scores , higher debt-to-income ratios and those who opted for more affordable loan products. Walsh said that there’s a “big question mark” related to FHA loans, which recorded a 10.46% delinquency rate in Q3 2024, up from 9.5%

VA loan

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. It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. Debt-to-income ratio (DTI).

Purchase and sale agreement