Housing Wire

MARCH 16, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, announced on Wednesday it will accept personal or business bank statements in self-employed borrowers’ loan applications. The product is available for loans up to $3 million and up to 90% loan to value. No mortgage insurance will be required.

Banks 384

Banks Loans Debt-to-income ratio Lending 384

Housing Wire

SEPTEMBER 16, 2021

Over half of non-homeowning millennials (60%) say student loan debt is delaying them from purchasing a home, making them the population most affected by student debt , according to the National Association of Realtors’ 2021 impact of student loan debt report.

Loans 396

Loans Debt-to-income ratio Mortgages As-is 396

Housing Wire

MARCH 22, 2023

An affordable home insurance policy not only means lower monthly payments, but also improved debt-to-income ratio and more money to put towards home improvements, property taxes or closing costs. In addition to finalizing a loan, there’s selecting movers, setting up utilities and more.

Debt-to-income ratio 406

Debt-to-income ratio Closing Loans Closing costs 406

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. Those loans are going to be 20 points underwater, for the 3% to 3.5%

Loans 384

Loans Debt-to-income ratio Banks Mortgages 384

HomeLight

MARCH 12, 2024

When buying a home, mortgages fall under one of two classifications — conforming and non-conforming loans. Most Americans financing a house will typically use a conforming loan, which means it “conforms” to guidelines that allow the loans to be sold to Fannie Mae or Freddie Mac, two of the largest mortgage buyers in the country.

Debt-to-income ratio 111

Debt-to-income ratio Loans Finance Mortgages 111

RIS Media

JANUARY 29, 2021

Lenders also have guidelines related to debt-to-income ratio, as well as the percentage of gross monthly income that goes toward making minimum credit card and loan payments. When to Prioritize Debt. A lender will limit the percentage of your total income that can go toward debt payments.

Debt-to-income ratio 59

Debt-to-income ratio Loans Mortgages As-is 59

Housing Wire

FEBRUARY 5, 2024

If 30-year rates fall to 6% by the fourth quarter, as the Mortgage Bankers Association (MBA) and Fannie Mae are currently predicting , the overall population of loans with a 75-bps refi incentive would more than double from 1.7 Nearly 60% of that growth would come from loans originated in 2023, ICE projected. million to 3.8

Debt-to-income ratio 458

Debt-to-income ratio Marketing Equity Loans 458

Realty Biz

FEBRUARY 22, 2024

Make sure all your finances are squared away, including disputing incorrect data on your credit report or paying off existing debts to signal to lenders you can afford your mortgage. 5 Steps for a Pre-Approval for a Home Loan Do a Free Credit Score Check. Calculate the Debt-to-Income Ratio. FICO is the largest U.S.

Pre-approval 82

Pre-approval Debt-to-income ratio Loans Banks 82

Housing Wire

SEPTEMBER 11, 2023

He most recently served as the president of troubled, largely defunct retail lender Celebrity Home Loans. In the acquisition, Flyhomes will be acquiring the Home Sale Assured brand and Meadow will join Flyhomes as VP of partnerships. Meadow has 25 years of mortgage industry experience.

Debt-to-income ratio 397

Debt-to-income ratio Sales Purchase and sale agreement Loans 397

Housing Wire

SEPTEMBER 10, 2020

They’re centering on – there’s been a desire to move away from the so-called GSE Patch QM which is the Qualified Mortgage for loans that are held for sale to Fannie Mae and Freddie Mac that is scheduled for sunset on Jan. There are two proposals that came out in June. Q: What about the other proposals? But there would be other factors.

Debt-to-income ratio 346

Debt-to-income ratio Loans Mortgages Industrial 346

Housing Wire

JANUARY 20, 2023

The Federal Housing Finance Agency this week made a series of significant changes to loan level pricing adjustment (LLPA) fees charged by Fannie Mae and Freddie Mac on conventional/conforming mortgages. The changes include updates to pricing for second homes, high-balance loans and cash-out refinances that were first announced in 2022.

Debt-to-income ratio 541

Debt-to-income ratio Industrial Mortgages Loans 541

Housing Wire

JANUARY 20, 2021

The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. To find a qualified lender, you need a good credit score and a good debt-to-income ratio, which is the percentage of a consumer’s monthly gross income that goes to paying down debt.

Debt-to-income ratio 432

Debt-to-income ratio Pre-approval Mortgages Closing costs 432

Housing Wire

DECEMBER 12, 2023

Limited to loans with CLTV 76-80 and FICO 720-770 to control for the effect of loan level pricing adjustments. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans. As of July 2023, the gap had slightly narrowed to 0.8

Debt-to-income ratio 419

Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 419

Housing Wire

NOVEMBER 2, 2023

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange.

Debt-to-income ratio 401

Debt-to-income ratio Loans Mortgages Closing 401

Housing Wire

OCTOBER 27, 2020

It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. Myth 2: You can’t buy a house if you have lots of student loan debt.

Debt-to-income ratio 376

Debt-to-income ratio VA loan FHA loan Loan Officer 376

Housing Wire

MAY 8, 2023

Freddie Mac’s BorrowSmart Access program will be available to NewRez borrowers through Caliber Home Loans ‘ national network of branches. “With BorrowSmart Access, we’re delivering on that mission by providing ways to reduce cost in the homebuying process.”

Debt-to-income ratio 410

Debt-to-income ratio Closing costs Finance Lending 410

Housing Wire

MARCH 15, 2023

Following a chorus of complaints from the mortgage industry, the Federal Housing Finance Agency (FHFA) on Wednesday announced that it would delay the implementation of a new and controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios.

Debt-to-income ratio 397

Debt-to-income ratio Loans Mortgages Industrial 397

Housing Wire

AUGUST 18, 2020

The Consumer Financial Protection Bureau is proposing a new category of qualified mortgages called Seasoned QM, which would require loans to meet certain performance requirements over a 36-month seasoning period. During the seasoning period, creditors would have to hold these loans on portfolio.

Debt-to-income ratio 517

Debt-to-income ratio Mortgages Loans As-is 517

Housing Wire

APRIL 7, 2021

Your Income Is Stable. A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.

Debt-to-income ratio 450

Debt-to-income ratio Fixed-rate mortgage Finance Loans 450

Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. A maximum debt-to-income ratio of 43%.

FHA loan 98

FHA loan Debt-to-income ratio Loans Loan Officer 98

Housing Wire

APRIL 26, 2023

Federal Housing Finance Agency (FHFA) Director Sandra Thompson issued a statement Tuesday to correct the misinformation that’s spread about the agency’s loan-level pricing adjustments to conventional mortgages. No change is more controversial than the LLPA tied to a borrower’s debt-to-income ratio.

Debt-to-income ratio 384

Debt-to-income ratio Loans Mortgages Lending 384

Housing Wire

APRIL 27, 2022

Amid a challenging time for would-be homebuyers, FinLocker released an updated web experience that aims to make it easier for consumers to see their progress in qualifying for a mortgage loan. The main feature of the firm’s web v3.0 FinLocker v3.0

Debt-to-income ratio 354

Debt-to-income ratio Mortgages Loans Banks 354

HomeLight

DECEMBER 5, 2023

That’s where a bridge loan in Connecticut can be your saving grace. A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. What is a bridge loan, in simple words? How does a bridge loan work in Connecticut?

Equity 106

Equity Debt-to-income ratio Loans Home sale contingency 106

RIS Media

FEBRUARY 21, 2024

If you got preapproved for a home loan that’s smaller than what you think you can afford, you might be able to get a larger mortgage. Reduce your debt-to-income ratio by paying down debts and/or increasing your income. Here’s how… Improve your credit.

Pre-approval 92

Pre-approval Debt-to-income ratio Mortgages Loans 92

HomeLight

OCTOBER 25, 2023

Enter the bridge loan: a timely financial lifeline that lets you buy your new home before selling your old one. We’ll delve into the mechanics, pros, cons, and alternatives to bridge loans, ensuring you have all the tools you need to make the best decision for your unique situation. What is a bridge loan, in simple words?

Equity 108

Equity Loans Debt-to-income ratio Closing costs 108

HomeLight

NOVEMBER 29, 2023

However, there’s a solution that might just make these puzzle pieces fit seamlessly together: a bridge loan. If you need assistance navigating the use of a bridge loan in Michigan, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Michigan?

Equity 107

Equity Loans Debt-to-income ratio Home sale contingency 107

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. In this guide, we explain the ins and outs of bridge loans in Utah and help you decide if they could be the answer to your property puzzle. How does a bridge loan work in Utah?

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 7, 2023

Enter the bridge loan, a financial tool designed to bridge this very gap. As a short-term financing solution, bridge loans empower you to leap ahead to purchase your new Oklahoma home before saying goodbye to your old one, helping you keep all the pieces in place without the interim shuffle. What is a bridge loan, in simple words?

Equity 110

Equity Loans Debt-to-income ratio Home sale contingency 110

Realty Biz

APRIL 8, 2022

Physician mortgage loans are a particular loan class exclusively available for physicians and medical residents. A few factors can make home loans more difficult than you would expect for a person who works as a doctor. So, let’s look at three of those major problems you can solve by opting for physician mortgage loans. .

Debt-to-income ratio 88

Debt-to-income ratio Loans Mortgages Closing costs 88

HomeLight

DECEMBER 15, 2023

However, there’s one financial tool you probably haven’t considered – a bridge loan. A bridge loan is a short-term financing solution, giving you the necessary income to purchase a new home, even before you’ve sold your current one. What is a bridge loan, in simple words? How does a bridge loan work in Atlanta?

Equity 107

Equity Loans Debt-to-income ratio Home sale contingency 107

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for.

Pre-qualification 441

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 441

HomeLight

DECEMBER 13, 2023

But there’s an alternative you probably haven’t considered — a bridge loan. A bridge loan is a short-term financial tool that “bridges the income gap”, enabling you to purchase your new home before you’ve sold your old one. What is a bridge loan, in simple words? How does a bridge loan work in San Diego?

Equity 116

Equity Loans Debt-to-income ratio Home sale contingency 116

HomeLight

DECEMBER 13, 2023

But there’s another option that you probably haven’t considered: a bridge loan. A bridge loan is a short-term loan that “bridges the income gap” between selling your existing property and purchasing your next home. What is a bridge loan, in simple words? How does a bridge loan work in Miami?

Equity 112

Equity Loans Debt-to-income ratio Home sale contingency 112

Housing Wire

JUNE 4, 2021

If you have poor credit, it’s less likely a lender will approve you for a loan. The good news is, you can raise your credit score by paying down debt and making your payments on time. Step 2: Look At Different Loan Options. with an FHA loan. First, figure out our total monthly debts. each month?

Debt-to-income ratio 450

Debt-to-income ratio FHA loan Loans Land 450

Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Understanding home equity loans and their associated interest rates is critical for making informed financial decisions. Home equity loans allow you to borrow a percentage of that equity, typically up to 85%.

Equity 72

Equity Loans Debt-to-income ratio Closing costs 72

HomeLight

DECEMBER 29, 2023

However, there’s a solution that you may not have considered: a bridge loan. A bridge loan is a short-term financial tool designed to “bridge the gap,” enabling you to purchase a new home before you’ve sold your current residence. What is a bridge loan, in simple words? How does a bridge loan work in Dallas?

Equity 106

Equity Loans Debt-to-income ratio Home sale contingency 106

Housing Wire

JANUARY 14, 2022

Kidwell said his company is looking for loan processors to identify fraud in non-QM loans, in addition to loan officers. The hiring trend at non-QM lenders stands in sharp contrast to recent layoffs at some consumer-direct lenders, which specialize in conventional refinance loans. Riches in the niches. trillion in 2022.

Debt-to-income ratio 388

Debt-to-income ratio Lending Loans Loan Officer 388