Housing Wire

MAY 4, 2022

Homes that reach the market sell quickly, bidding wars are the new normal and the investor share of sales continues to rise. Various mortgage finance innovations facilitated larger loans at the same monthly payment to keep up with growing home values – which is one reason why house prices kept going up.

Debt-to-income ratio 365

Debt-to-income ratio Equity Pre-approval Finance 365

Realty Biz

MARCH 12, 2023

A real estate underwriter plays a critical role in the mortgage industry by evaluating loan applications and assessing real estate investment-associated risks. They work for lending institutions, such as banks and mortgage companies. This includes assessing the borrower's income, expenses, debt-to-income ratio, and credit score.

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Debt-to-income ratio Mortgages FHA loan Loans 106

Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. home sales—often attract buyers who are stretching their financial limits to achieve homeownership.

Debt-to-income ratio 471

Debt-to-income ratio Agents Equity Closing costs 471

Housing Wire

MARCH 4, 2021

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022. “At But Fannie Mae and Freddie Mac are not bound to this requirement, a condition known as the QM Patch.

Debt-to-income ratio 235

Debt-to-income ratio Loans Lending Mortgages 235

Realtor.com

JANUARY 10, 2023

fizkes/iStock This may indeed be the case if you’ve found that perfect house, only to have lenders inform you that you don’t qualify for a mortgage. Even if you know how to scrimp and save to make your monthly mortgage payments, the bank doesn’t know how well you pinch pennies. Enter the co-signer.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Loans Banks 105

Housing Wire

MARCH 30, 2021

At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score.

Pre-qualification 433

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 433

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

Point2Homes

DECEMBER 15, 2021

There are many types of mortgages for homebuyers to consider in the U.S. Assumable mortgages aren’t as common as others, but they can offer a wealth of benefits in the right circumstances. What Is an Assumable Mortgage? How Does an Assumable Mortgage Work? Are All Mortgage Types Assumable? Let’s find out more.

Debt-to-income ratio 109

Debt-to-income ratio VA loan Mortgages FHA loan 109

Keeping Current Matters

AUGUST 20, 2020

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some even worried that we might relive the 2006-2008 housing crash all over again. Bottom Line.

Debt-to-income ratio 243

Debt-to-income ratio Lending Equity Mortgages 243

Real Trends

MARCH 8, 2023

The seller could also provide a second mortgage to create funds. Lenders require specific debt-to-income ratios in order to qualify a borrower for a mortgage loan. They calculate the buyer’s total expenses divided by their gross income, which equals the debt-to-income ratio.

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Debt-to-income ratio Finance Backup offer Agents 94

HomeLight

DECEMBER 5, 2023

You can then make a strong offer on your next home with no home sale contingency. Bridge loans can be pricier than regular mortgages, but they’re designed to be your speedy and hassle-free ticket to that new home. Here’s the catch: The lender providing your new mortgage will often be your bridge loan buddy.

Equity 95

Equity Debt-to-income ratio Loans Home sale contingency 95

Housing Wire

JANUARY 4, 2022

Pontiac, Michigan-based United Wholesale Mortgage (UWM) capitalized on a booming private-label market in 2021 by sponsoring its inaugural securities transaction this past May, a prime jumbo deal involving 508 mortgages with an aggregate principal balance of $351.9 That’s a strong start for a new issuer. “A

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HomeLight

NOVEMBER 3, 2023

You can then make a strong offer on your next home with no home sale contingency. A bridge loan can be your lifeline when you’re eager to secure your new home but are still awaiting the sale of your current one. However, it’s essential to note that bridge loans can come at a higher cost than traditional mortgages.

Equity 102

Equity Loans Debt-to-income ratio Home sale contingency 102

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. rebranded as Rithm Capital ). As of March 8, according to Commerce Bank , the prime rate was 7.75%.

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HomeLight

DECEMBER 15, 2023

Lining up the sale of your current home while trying to close the deal on a new one, particularly in a competitive market where inventory is low, may feel impossible. You can then make a strong offer on your next home with no home sale contingency. The same lender handling your new mortgage will usually manage your bridge loan.

Equity 97

Equity Loans Debt-to-income ratio Home sale contingency 97

RIS Media

JANUARY 29, 2021

Lenders offer mortgages for borrowers with a wide range of financial circumstances. 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.

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Debt-to-income ratio Mortgages Bankruptcy Loans 98

HomeLight

NOVEMBER 29, 2023

You can then make a strong offer on your next home with no home sale contingency. While they tend to be pricier than traditional mortgages, bridge loans offer a quick and convenient way to secure your new home without the wait to sell your old one. An important factor in this process is your debt-to-income ratio (DTI).

Equity 98

Equity Loans Debt-to-income ratio Home sale contingency 98

HomeLight

JANUARY 17, 2024

In the realm of real estate, “backing out” refers to the decision a buyer makes to withdraw from a home purchase after the offer has been accepted but before the sale is finalized. This action is more formally known as rescinding or voiding a residential home purchase agreement.

Purchase and sale agreement 97

Purchase and sale agreement Debt-to-income ratio Title search Finance 97

HomeLight

DECEMBER 13, 2023

You can then make a strong offer on your next home with no home sale contingency. Typically, the same lender handling your new mortgage will also manage your bridge loan. They usually require that your old home is listed for sale and offer the bridge loan for a period ranging from six months to a year.

Equity 108

Equity Loans Debt-to-income ratio Home sale contingency 108

HomeLight

OCTOBER 25, 2023

Often referred to as a swing or interim loan, a bridge loan is usually pricier than your regular mortgage. Often, the same lender who’s facilitating your new mortgage in Arizona will also provide the bridge loan. They usually mandate that your current residence is actively listed for sale. The reason?

Equity 100

Equity Loans Debt-to-income ratio Closing costs 100

HomeLight

DECEMBER 29, 2023

You can then make a strong offer on your next home with no home sale contingency. Though they generally come with higher costs than traditional mortgages, bridge loans offer speed and convenience in exchange for a more expensive rate. The same lender handling your new mortgage in Dallas will often manage your bridge loan.

Equity 95

Equity Loans Debt-to-income ratio Home sale contingency 95

HomeLight

DECEMBER 14, 2023

You can then make a strong offer on your next home with no home sale contingency. Bridge loans are typically more expensive than traditional mortgages due to their convenience and quick availability. The lender for your new mortgage will usually handle the bridge loan. What are the benefits of a bridge loan in San Francisco?

Equity 99

Equity Loans Debt-to-income ratio Home sale contingency 99

HomeLight

DECEMBER 15, 2023

Managing the sale of your Austin home while trying to purchase a new one can be difficult. With rising prices in a market where homes are in high demand, timing your sale and purchase can be particularly challenging. You can then make a strong offer on your next home with no home sale contingency.

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. With an anticipated doubling in market share in 2022 , non-QM products are top of mind for almost every mortgage industry professional.

Debt-to-income ratio 381

Debt-to-income ratio Lending Pre-qualification Loans 381

HomeLight

NOVEMBER 7, 2023

You can then make a strong offer on your next home with no home sale contingency. In many cases, the financial institution where you’re seeking a mortgage for your new Oklahoma home will manage your bridge loan as well.

Equity 100

Equity Loans Debt-to-income ratio Home sale contingency 100

HomeLight

DECEMBER 13, 2023

You can then make a strong offer on your next home with no home sale contingency. Although they’re typically pricier than traditional mortgages, bridge loans shine in their ability to provide a seamless home-buying experience. Typically, the lender working on your new mortgage will also handle your bridge loan.

Equity 104

Equity Loans Debt-to-income ratio Home sale contingency 104

HomeLight

DECEMBER 7, 2023

You can then make a strong offer on your next home with no home sale contingency. Bridge loans are great because they provide speed and convenience over traditional mortgages. Typically, the lender handling your new mortgage will also manage your bridge loan. Lenders will first consider your debt-to-income ratio (DTI).

Equity 102

Equity Loans Home sale contingency Debt-to-income ratio 102

HomeLight

FEBRUARY 26, 2024

Homeowners can tap into this equity through a sale or a home equity line of credit (HELOC), providing a substantial down payment for their next purchase. A down payment of 20% or more can eliminate the need for private mortgage insurance (PMI), lowering your monthly expenses. Madan says not all buyers have a 20% down payment.

Purchase and sale agreement 100

Purchase and sale agreement Debt-to-income ratio Equity Loans 100

HomeLight

JANUARY 30, 2024

You can then make a strong offer on your next home with no home sale contingency. While bridge loans are typically pricier than conventional mortgages, they offer a significant advantage: they allow you to make your new purchase promptly, without waiting for your old home to sell. What are the drawbacks of a bridge loan?

Equity 94

Equity Loans Debt-to-income ratio Home sale contingency 94

Redfin

AUGUST 8, 2023

A jumbo loan is a specialized type of mortgage that comes into play when you’re seeking financing for a home that surpasses the conforming loan limits (CLL) established by the Federal Housing Finance Agency (FHFA). The DTI is determined by dividing the total of your monthly debt payments by your gross monthly income.

Debt-to-income ratio 56

Debt-to-income ratio Loans Finance Mortgages 56

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. On the other hand, the expanded supply of homes for sale is not doing much to reduce the sky high prices of homes. Meanwhile, the number of new listings also surpassed pre-pandemic levels, rising 4.5% from a year ago.

Debt-to-income ratio 97

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

HomeLight

DECEMBER 4, 2023

In a market where inventory is low and prices are high, synchronizing the sale of your current home with purchasing a new one adds an extra layer of complexity. You can then make a strong offer on your next home with no home sale contingency. The financial institution handling your new mortgage will often manage your bridge loan.

Equity 100

Equity Loans Debt-to-income ratio Home sale contingency 100

Redfin

JUNE 30, 2023

Lenders may require a higher down payment, a lower debt-to-income ratio, and a stronger credit score to qualify for a jumbo loan in Oklahoma. For example, if you’re buying a home in Tulsa County , where the median sale price is $275,000, a loan limit exceeding $726,200 would be considered a jumbo mortgage.

Debt-to-income ratio 46

Debt-to-income ratio Loans Finance New Construction 46

HomeLight

NOVEMBER 30, 2023

You can then make a strong offer on your next home with no home sale contingency. While bridge loans are generally more expensive than traditional mortgages, they offer a significant advantage: they enable you to quickly secure your new home in Missouri without waiting for your old home to sell. How does a bridge loan work in Missouri?

Equity 103

Equity Loans Debt-to-income ratio Home sale contingency 103

HomeLight

NOVEMBER 30, 2023

You can then make a strong offer on your next home with no home sale contingency. While these loans are pricier than traditional mortgages, they offer a significant advantage: they allow you to swiftly secure your new home without waiting for your old one to sell. An important factor in this scenario is your debt-to-income ratio (DTI).

Equity 100

Equity Loans Debt-to-income ratio Home sale contingency 100

Point2Homes

OCTOBER 6, 2020

However, when it comes to mortgages, cash can suddenly lose its appeal. That’s because using cash for home deposits could look like fraud and affect your chances of getting a mortgage. Qualifying for a Mortgage. Typically, to be eligible for a mortgage, your debt-to-income ratio must be 43% or less.

Debt-to-income ratio 144

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Realty Biz

MARCH 28, 2022

The payments will be a bit of a stretch for us, but we are preapproved for the mortgage. A contingent sale just means that some details still need to be worked out. National Association of REALTORS ® (NAR) statistics from 2021 say that only about 5% of sales fall through. The seller accepted and signed our offer three days ago.

As-is 82

As-is Purchase and sale agreement Debt-to-income ratio Sales 82