Housing Wire

SEPTEMBER 30, 2022

We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator. Best’s top three tips for loan officers using TikTok are to be your genuine self, keep it short and sweet, and “just do the video.”. followers and 524.8k

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Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

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Housing Wire

MARCH 1, 2021

Want to make sure you’re getting the best deal and making the right choice for your finances? Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. It doesn’t stop there.

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Real Trends

NOVEMBER 11, 2022

Real estate professionals navigating housing in 2022 and beyond need to know their way around all the financing options available. Without knowledge of lesser-known financing choices, real estate professionals can miss the chance to turn their customers into homeowners, or sellers. . Shared equity financing.

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Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Can you buy a house with bad credit?

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Finance Debt-to-income ratio FHA loan Mortgages 97

Realtor.com

DECEMBER 20, 2021

“The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , To be eligible for a VA loan, you must have served in the military, the National Guard, or the Reserves, or be the spouse of a service member who died in the line of duty.

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The Close

NOVEMBER 25, 2022

This is a niche with recession-proof buyers, zero percent financing, and hot leads that need to close quickly. Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment!

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HomeLight

AUGUST 31, 2021

Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. Important things to know: A low or zero down payment will not significantly impact your interest rate with a USDA loan. That’s when you talk to a loan officer,” Helali insists.

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FHA loan VA loan Loans Loan Officer 96

HomeLight

OCTOBER 15, 2020

The different types of conventional loans. There are two main types of conventional loans: conforming and non-conforming. Conforming loans. Conforming loans are mortgages that conform to financing standards set by the federal government, and can therefore be purchased by Fannie Mae and Freddie Mac.

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Loans FHA loan Debt-to-income ratio VA loan 93

C4D Crew

JANUARY 13, 2022

Most loans require at least a 3.5% If you’re a veteran who qualifies for a VA loan, you might not have to put any money down at all. . Getting a Loan. When you’re ready to apply for a loan, make sure you get pre-approved first. These are the types of loans you may qualify for: Conventional Loan.

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HomeLight

AUGUST 16, 2021

FHA Within Reach Down Payment Assistance program is the FHA’s DPA program, though you’ll typically find this program offered through your state’s Housing and Finance Authority. You can qualify for loans with as little as 3.5% Service members, veterans, and surviving spouses qualify for these loans with 0% down.

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Housing Wire

MAY 8, 2023

I have been in the mortgage industry for nine years, with my loan officer in the industry for 19 years and my Realtor for over 10 years. Assuming a VA loan I have nothing but the utmost respect for everyone serving in the military. Veterans Affairs (VA) mortgage loans can be an excellent product for veterans.

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HomeLight

JUNE 28, 2021

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. Buyers should arrange financing with a bank or mortgage lender ahead of time. After you’ve got your finances in order, it’s time for the fun part.

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HomeLight

OCTOBER 2, 2020

If you opt for a government-backed loan program, like an FHA or VA loan, you will likely have to pay certain fees connected with these loans at close. For example, FHA loans require an upfront mortgage insurance payment, currently 1.75% of the loan amount. Government program fees. Appraisal fee.

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HomeLight

JANUARY 27, 2021

Home financing. 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. Minimum down payment : 0%.

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HomeLight

JUNE 18, 2021

VA funding fee. To offset the cost of administration, VA loan borrowers must pay a fee at closing. of loan amount. But your loan officer should be able to give you an estimate of the cost upfront. Ask your loan officer, ‘What can change for the better? Attorney fee.

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HomeLight

MAY 31, 2021

Moskowitz says that sometimes a large down payment isn’t necessarily the way to go when it comes to financing your home loan. “If These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? What about interest rates?

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Mortgages Debt-to-income ratio Loans Closing costs 57

Marco Santarelli

OCTOBER 6, 2023

There are some mortgage options that you should know about financing investment properties. The motivation behind this article is to educate you on the different kinds of loans you get for an investment property. Nonconforming mortgages are for higher amounts usually called a jumbo loan.

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HomeLight

NOVEMBER 29, 2021

Research and strategy are involved when deciding on a figure for a down payment, which will depend on your savings and how much you’re willing (and able) to finance. With so many DPA programs, you’ll want to consult with someone who will know them best — your loan officer. What types of mortgage loans are there?

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HomeLight

JUNE 22, 2023

Everyone’s finances and circumstances are different. She advises that the sooner you contact an agent, the sooner they can recommend a qualified loan officer that can advise you on your financial situations and steps you might take to save a downpayment or fix issues with your credit which could take up to a year and a half to repair.

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Realty Biz

JANUARY 19, 2024

Let's start with some detailed information and actionable tips on financing. From preparing your finances and exploring mortgage options to calculating your budget, these steps set you on the right path toward finding your dream home. Research different types of mortgages available, such as conventional, FHA, or VA loans.

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

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. For a USDA loan, you should have a minimum FICO score of 640.

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HomeLight

JUNE 19, 2023

USDA loans USDA loans are only available in certain rural areas (though those areas cover around 97% of the country), and buyers must meet program income requirements. But on the upside, these loans go as low as 0% down. Minimum down payment required : 3.5% Your agent can help you identify which lenders work with each program.

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Realtor.com

NOVEMBER 28, 2022

While there are a variety of mortgages aimed at helping homebuyers afford a home—such as FHA loans and VA loans —one type that’s often overlooked are USDA loans, which offer excellent terms to those who qualify, including a 0% down payment and low interest rates. Types of USDA loans.

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Loans Mortgages FHA loan Debt-to-income ratio 95

HomeLight

OCTOBER 26, 2021

We’ve asked Richard Helali, Loan Officer and Sales Lead at HomeLight Home Loans , to pull back the curtain to explain what happens during mortgage underwriting. You have to find the right people to help you, even if it means interviewing ten different loan officers.”. How long will it take?

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Pre-approval Mortgages Loans Loan Officer 79

HomeLight

JUNE 30, 2022

Line up financing. It’s important to line up financing well in advance of when you want to start making offers. Be sure to do your research to find a reputable lender who can guide you through financing your first home purchase. Some loan programs, such as those backed by the FHA , allow for a down payment as small as 3.5%

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Purchase and sale agreement Inspection Earnest money deposit Closing costs 70

HomeLight

AUGUST 31, 2021

One particularly important decision homebuyers face is how to finance their new home. Landing a low-interest loan with minimal fees. Say a colleague just bought a new condo and scored an awesome rate on his loan. It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank.

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HomeLight

DECEMBER 30, 2021

According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers have conventional loans, 16% have FHA loans and 14% received VA loans. Understand the role of an appraiser. Pre-listing appraisal: In the San Francisco Bay area, pre-sale appraisals and inspections are common.

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HomeLight

MARCH 6, 2023

Consider the following down payment assistance programs in the Bay Area: Golden State Finance Authority (GSFA) : The GSFA offers several programs that can help low-to-moderate-income homebuyers in California purchase a home by providing up to 5.5% Loans are between 3%-3.5% Loans are between 3%-3.5%

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HomeLight

NOVEMBER 10, 2021

An FHA loan , for example, requires a minimum of 3.5% A USDA home loan , which is available for rural and some suburban areas, might not require a minimum down payment at all. The same holds true for VA loans for military families. Home loans. However, eligibility and income restrictions can apply. Fort Lauderdale.

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Closing costs Loans Purchase and sale agreement Earnest money deposit 99

HomeLight

MARCH 2, 2023

My Home California Down Payment Assistance : California Housing Finance Agency (CalHFA), offers first-time homebuyers deferred payment loans through both FHA and conventional programs, to assist with down payment and/or closing costs. Loans are between 3%-3.5% Loans are between 3%-3.5% Visit this link on the U.S.

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HomeLight

JANUARY 31, 2022

Conventional loans can be approved with as little as 3% as a down payment. USDA loans are available mostly in rural areas and enable buyers to put down zero percent of the price. VA loans enable eligible active duty military personnel and veterans to buy a home with zero percent down. Source: (Brian Jones / Shutterstock).

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HomeLight

SEPTEMBER 30, 2021

We have all heard of putting down the traditional 20% for a mortgage down payment, but this isn’t a requirement for most loans. If you have enough savings to put 20% down, it means you’ll be able to finance less and enjoy a lower rate while you’re at it. Another good bet is to speak to your friendly loan officer.

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Redfin

FEBRUARY 10, 2021

However, there are other types of home loans, such as FHA-backed loan, Conventional and VA loans if you have served in the military and qualify, that may allow you to put down less than twenty percent while avoiding PMIs altogether. Finally, figure out what type of loan is right for you. Get Pre-approved.

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Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 73

The Close

DECEMBER 29, 2022

It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. VA loans might have a lot of red tape, but they can be excellent, affordable options for service members and their spouses. Construction loan. Loan officer. Certificate of reasonable value.

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