Realty Biz

JULY 2, 2022

Economists say the historic shortage of homes for sale is coming to an end, as more inventory is added to the market. Meanwhile, the number of new listings also surpassed pre-pandemic levels, rising 4.5% For now though, inventory remains critically low at around 50% of pre-COVID levels. from a year ago.

Debt-to-income ratio 97

Debt-to-income ratio Pre-approval Marketing Loans 97

Realty Biz

JUNE 7, 2023

Take care of your debt-to-income ratio Lenders evaluate your debt-to-income ratio to assess your ability to repay the loan. Lowering your debt and increasing your income can improve this ratio, making you a more attractive borrower. Hopefully, this was helpful.

Debt-to-income ratio 61

Debt-to-income ratio Loans Pre-approval Lending 61

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. Even under “normal” market conditions, VA buyers struggle to successfully purchase a home using their benefit.

VA loan 392

VA loan Agents Pre-approval Debt-to-income ratio 392

Realty Biz

SEPTEMBER 5, 2023

These platforms offer valuable insights into your credit health, including your credit utilization, payment history, and outstanding debts. Check Your Credit Scores Part of getting pre-approved for a mortgage is increasing your credit scores. Lowering your debt burden improves this ratio and increases your borrowing capacity.

Debt-to-income ratio 92

Debt-to-income ratio Pre-approval Finance Bankruptcy 92

The Close

FEBRUARY 20, 2024

In real estate, the market is tied to the basic economic rule of supply and demand, which determines if a market is a buyer’s market vs seller’s market. Sure, certain seasons might have more foot traffic than others, but the housing market could vary drastically from neighborhood to neighborhood.

Marketing 94

Marketing Debt-to-income ratio MLS Pre-approval 94

Realtor.com

NOVEMBER 2, 2020

Since COVID-19 started tearing through the country in March, we’ve heard reports of freelancers having an even harder time getting approved for mortgages. Getting a mortgage as a freelancer (pre-coronavirus). But the main difference is that as a freelancer, you just had to document the income.”. The final word. Yes and no.

Debt-to-income ratio 144

Debt-to-income ratio Pre-approval Mortgages Banks 144

Real Trends

APRIL 4, 2023

Hispanic homeownership by the numbers According to the report, “Latinos are more likely to live in multigenerational households, where the pooling of economic resources makes homeownership more attainable in a market impacted by affordability challenges.” This advocacy is especially important in today’s challenging market.

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Debt-to-income ratio Pre-qualification Pre-approval Mortgages 76

Realty Biz

DECEMBER 12, 2022

Mortgage Pre-Approval and Pre-Qualification Are Not The Same. Securing conditional approval for a mortgage is the optimal method for determining the amount of borrowing capacity. Obtaining preapproval does not guarantee approval of a mortgage. Stay Comfortably Within Your Debt-to-Income Ratio.

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Debt-to-income ratio Mortgages Pre-approval Pre-qualification 88

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 95

Debt-to-income ratio Pre-approval Pre-qualification Loans 95

Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. Still, pre-approval is not a guarantee that a buyer will get a loan.

Loans 133

Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

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 97

Finance Debt-to-income ratio FHA loan Mortgages 97

RIS Media

APRIL 8, 2022

Homes that are listed as pending or sold are officially off the market. . Other factors can also put a home back on the market. While financing may be pre-approved, the process is complex. Appraisals that are lower than expected may put a home back on the market. Can a home listed as contingent fall through?

Debt-to-income ratio 144

Debt-to-income ratio Title search Backup offer Home sale contingency 144

Redfin

MARCH 25, 2021

Whether you’re new to the homebuying process or not, it can be tricky to navigate the housing market – especially a seller’s market. With new listings of homes for sale down 17% from 2020 , for homebuyers, the days of ample choice and time are over, and it’s clear we’re in a strong seller’s market. .

Pre-approval 67

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HomeLight

FEBRUARY 12, 2021

Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. of all mortgage originations.

FHA loan 109

FHA loan Loans Pre-approval Pre-qualification 109

Redfin

JULY 11, 2023

Mortgage rates are influenced by various factors, such as the borrower’s credit score, loan-to-value ratio, loan term, and prevailing market conditions. Additionally, the loan-to-value ratio and loan term can impact the interest rate offered. How does the mortgage pre-approval process work?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

Lighter Side of Real Estate

AUGUST 5, 2020

Ask an agent to go see houses before getting pre-approved. There’s no greater let down than finding a house you love, and finding out you can’t be approved for a mortgage in the price range of that house. Besides, many sellers and their agents won’t even consider your offer if you don’t include a pre-approval letter.

Pre-approval 145

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Realty Biz

JULY 19, 2023

Obtain a pre-approval letter from lenders to understand your borrowing capacity. Consider community property and debt implications during the mortgage process. Obtaining a Pre-Approval Letter from Lenders Getting pre-approved for a mortgage is an essential step in the home-buying process.

Mortgages 75

Mortgages Pre-approval Debt-to-income ratio Closing costs 75

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 89

Debt-to-income ratio Pre-approval Bankruptcy Mortgages 89

HomeLight

OCTOBER 27, 2020

There are other circumstances when tax returns are required, too, such as if you own rental property, or if you are investing in the stock market and earn income from dividends. For example, Sanchez warned, during the initial months of the coronavirus pandemic, the non-QM market slowed dramatically.

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Redfin

MAY 11, 2022

With a plan for regular on-time payments on your debts, you will improve your credit history and score with every payment. . Pay down your overall debt to increase your debt-to-income ratio: Your available credit is also significant in your credit score. Get pre-approved for a mortgage.

Pre-approval 63

Pre-approval Debt-to-income ratio VA loan FHA loan 63

HomeLight

AUGUST 31, 2020

You may have a preapproval, but a preapproval does not guarantee formal loan approval. For example, pre-pandemic, an FHA loan could be secured with 3.5% It might also be a good idea to go through a pre-underwriting with a lender. Debt-to-income is as important as your credit score in a lot of cases.”.

Debt-to-income ratio 65

Debt-to-income ratio FHA loan Pre-qualification VA loan 65

Realty Biz

MAY 10, 2022

AAPI demand for housing is high: 65% of real estate professionals working with Asian buyers say demand for housing is greater that 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 88

Debt-to-income ratio Pre-approval Bankruptcy Mortgages 88

Marco Santarelli

MARCH 17, 2023

The seller premium is the amount above the home's market value. It's worth noting that the seller premium for each month is still positive, meaning that sellers can still earn more than the market value of their homes during these months. The overall inventory is still 50% below pre-pandemic norms as well. percent and 6.1

Debt-to-income ratio 52

Debt-to-income ratio Pre-approval Closing Sales 52

Redfin

MAY 16, 2023

Maryland housing market insights Maryland’s housing market has been experiencing high demand over the last couple of years, with limited inventory contributing to increased home prices in some areas. Check out this article to learn more about the pros and cons of living in Maryland. And that’s not all.

Pre-approval 52

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Marco Santarelli

OCTOBER 6, 2023

Some lenders may require higher scores, especially for borrowers with other risk factors, such as a high debt-to-income ratio or a short credit history. Increased Accessibility: No-money-down mortgages enhance accessibility to the housing market , enabling a broader range of individuals to achieve their goal of owning a home.

VA loan 52

VA loan FHA loan Pre-qualification Debt-to-income ratio 52

Windemere Buying

OCTOBER 18, 2021

Not getting pre-approved Getting pre-approved is a key component of the early stages of the buying process and will help to maximize your chances of getting your offer accepted. Because new credit changes your debt-to-income ratio, lenders will likely want to review your mortgage approval and your risk of non-payment.

Pre-approval 52

Pre-approval Pre-qualification Debt-to-income ratio Inspection contingency 52

Redfin

APRIL 7, 2023

With its pristine beaches, year-round sunshine, and thriving job market, it’s no wonder that so many people dream of owning a home in America’s Finest City. Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best.

Pre-approval 58

Pre-approval Agents Pre-qualification Debt-to-income ratio 58

Redfin

JULY 3, 2023

Arizona housing market insights The Arizona housing market is experiencing some notable trends and shifts. Several cities in Arizona have emerged as competitive real estate markets, including Pinetop , Flagstaff , and Cottonwood. year-over-year, indicating a tightening market. decrease compared to the previous year.

Pre-approval 54

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Realtor.com

JUNE 12, 2017

The entire mortgage process has several parts, including getting pre-approved, getting the home appraised, and getting the actual loan. In a normal market, this process takes about 30 days on average, says Fite. Many sellers will require that buyers get pre-approved for a mortgage before they will accept an offer.

Pre-approval 52

Pre-approval Debt-to-income ratio Mortgages Bankruptcy 52

Redfin

AUGUST 3, 2023

Georgia housing market insights The Georgia housing market has experienced some notable recent changes in demand and supply. Rising mortgage rates have played a significant role in deterring some buyers from entering the market. Check out this article to learn more about the pros and cons of living in Georgia. year-over-year.

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Purchase and sale agreement Pre-approval Debt-to-income ratio Loans 53

Redfin

JUNE 14, 2023

From market insights and the homebuying process, read on to make the jump to homeownership. North Carolina housing market insights The housing market in North Carolina is a vibrant and flourishing industry that presents potential buyers with numerous choices. If you need help figuring out where to start, Redfin has your back.

Pre-approval 55

Pre-approval Debt-to-income ratio Closing costs Title 55

Redfin

MAY 5, 2023

An overview of the Texas housing market The Texas housing market is rich in diversity, with plenty of options to suit different budgets and lifestyles. However, due to the recent hike in mortgage rates, the market has experienced a slight decline, with median sale prices dropping by 2.5% to $341,300 and competition slowing down.

Purchase and sale agreement 62

Purchase and sale agreement Pre-approval Seller disclosure Earnest money deposit 62

Redfin

MARCH 3, 2022

It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved. Delayed approvals from Homeowners Associations. How to remedy the situation.

Closing 61

Closing Title search Purchase and sale agreement Title 61

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 57

Mortgages Debt-to-income ratio Loans Closing costs 57

Housing Wire

AUGUST 27, 2021

A recent syndicated article on racial bias from The Markup on racial bias, published by ABC news, AP, Market Watch and more, has drawn a great deal of attention from trade groups, policy makers and housing advocates with support from some and attacks from others. This rule remains in effect today.

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Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 395

Realty Biz

JANUARY 19, 2024

By following these steps, you can easily navigate the real estate market. This documentation will be necessary when applying for a mortgage pre-approval. If your credit score needs improvement, address any outstanding debts or errors in your credit report. Next, examine your credit score and history.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

DECEMBER 8, 2023

This balancing act becomes even more challenging in a market where inventory is low, and prices are high. This strategy is particularly advantageous in Ohio’s low-inventory housing market , where waiting to sell before buying could mean missing out on your dream home.

Equity 93

Equity Loans Debt-to-income ratio Home sale contingency 93