Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Loans 419

Loans FHA loan Mortgages Loan Officer 419

Redfin

AUGUST 13, 2020

Clearing your way to get approved for a home loan will ensure that you are ready to act when that dream home appears on the housing market. Follow these ten steps for how to get a home loan and put a plan in place to finance what will most likely be the biggest purchase of your life. Step 1: Know your credit score.

Pre-approval 70

Pre-approval Loans Pre-qualification Banks 70

Redfin

APRIL 7, 2023

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. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer.

Pre-approval 58

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

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval 94

Pre-approval Pre-qualification FHA loan Inspection 94

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. Sound great? Sure it does!

Loans 97

Loans VA loan FHA loan Purchase and sale agreement 97

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? What type of home loans do you offer?

Mortgages 58

Mortgages Debt-to-income ratio Loans Closing costs 58

HomeLight

AUGUST 31, 2022

With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 made mortgage and other payments on time and.

Equity 102

Equity Finance Loans Closing costs 102

Realtor.com

NOVEMBER 11, 2022

Real estate agents agree that long before you peruse listings or check out open houses, you should talk to a lender about your credit score, so that you can secure a mortgage. Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more.

Pre-approval 131

Pre-approval Pre-qualification Debt-to-income ratio Loan Officer 131

Redfin

MARCH 18, 2022

Shopping for and securing an affordable mortgage loan is no easy feat. Often, homebuyers jeopardize potential mortgage deals by rushing the process or neglecting essential steps along the way. And in the end, that means a higher mortgage rate than they can afford or, worse, no loan at all. The short answer is yes.

Mortgages 65

Mortgages Pre-approval Pre-qualification Loans 65

HomeLight

OCTOBER 5, 2020

A short sale is when a property is sold at less than what’s owed on the remaining mortgage balance. This type of situation usually occurs when the owner is financially distressed and no longer able to make their monthly mortgage payments. You’ll need to get preapproved for a mortgage loan. What’s a short sale?

Short sale 77

Short sale Sales Pre-approval Pre-qualification 77

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan.

Closing 88

Closing Earnest money deposit Sales Title 88

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. “The There are loan programs that allow as little as 3.5%

Closing 93

Closing Earnest money deposit Sales Inspection 93

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Assumable mortgage. Acceleration clause.

Purchase and sale agreement 97

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