RIS Media

JANUARY 29, 2021

Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan. How Are Requirements Different for Alt-A Loans? An Alt-A loan may be available sooner.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Bankruptcy Loans 98

Marco Santarelli

SEPTEMBER 16, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs 3. Cheaper Overall Loan Costs: Lower home prices mean borrowing less, resulting in a lower monthly payment and cheaper overall loan costs.

Debt-to-income ratio 98

Debt-to-income ratio Loans Mortgages Short sale 98

HomeLight

AUGUST 31, 2020

If you don’t have cash immediately available, there are many loans available to help bridge the gap and get you to building. News provides a comprehensive list of the best home improvement loans in 2020. Owner-builder construction loan: This is a variant of the above for homeowners acting as their own general contractor.

Debt-to-income ratio 98

Debt-to-income ratio Construction Loans Equity 98

HomeLight

SEPTEMBER 30, 2021

The payoff amount includes any interest you owe until the day you plan to pay your loan in full. Once you close on your house, your escrow company will coordinate with your lender to get an updated payout amount and use your home sale funds to pay off the debt in its entirety. Selling a house with a mortgage is extremely common.

Mortgages 102

Mortgages Debt-to-income ratio Equity Closing costs 102

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death). Problem: You lost your job.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97