Keeping Current Matters

AUGUST 27, 2020

You may have heard that pre-approval is a great first step in the homebuying process. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

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Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Online mortgage calculators can provide a rough estimate, but getting pre-approved by a lender will give you a more accurate figure. What Is a Mortgage Pre-Approval? They typically range from 1% to 3% of the loan amount.

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Housing Wire

MAY 25, 2022

There’s no question that 2022 has seen serious changes to the housing market. 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. Bracing for the challenges of non-QM.

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Debt-to-income ratio Lending Pre-qualification Loans 393

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

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Realtor.com

JANUARY 16, 2023

. “While you do not ‘need’ a pre-approval letter from your lender in order for your offer to be accepted, I highly recommend all of my buyers present it,” says Denise Shur , a Realtor® with 1:1 Realty in San Jose, CA. ” What is mortgage pre-approval? .” ” What is mortgage pre-approval?

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Mortgage pre-approval letter Pre-approval Pre-qualification Mortgages 98

Toronto Realty Blog

MARCH 28, 2024

Those who know me – at least, through TRB, are fully aware of my thoughts on pre-construction condos, the pre-construction condo industry, and the way that pre-construction condos are sold and eventually built. Your “Buying Pre-Construction Condos and CAKE! Time flies when you’re having fun, right?

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Housing Wire

SEPTEMBER 2, 2021

One of the ways that RMF approached the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team pursuing different options to enhance its offerings, similarly to the way the idea to streamline borrower qualification came about.

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Mortgages Pre-qualification Equity Industrial 433

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible. of all mortgage originations.

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FHA loan Loans Pre-approval Pre-qualification 109

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. It was another brutal year, pushing loan originators to work longer hours, close loans faster while diversifying their mortgage product offerings.

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Realtor.com

APRIL 29, 2021

Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A Plenty of loan programs accept far less. And PMI can be pricey, amounting to about 1% of your whole loan—or $1,000 per year per $100,000. of your loan—that’s quite a spread.

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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. How to get a home loan in 10 steps.

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Real Trends

JUNE 9, 2023

This is an emerging symptom of the changing market , and it’s not your fault. Here’s what’s happened that has largely taken the ‘FOMO’ (Fear of Missing Out) buyers and sellers out of the market. This keeps uncertainty in the market. They are loan-committed and willing to do what it takes to compete if necessary.

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Windemere Buying

FEBRUARY 24, 2021

To set yourself up for a smooth and successful home purchase , getting pre-approved is perhaps the most productive first step you can take. The Pre-Approval Process There is an important distinction to made between two important steps of your mortgage application process: pre-qualification and pre-approval.

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Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. that may help you get approved with favorable terms.

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Lighter Side of Real Estate

FEBRUARY 2, 2023

When rates were unusually low, it almost didn’t matter if you weren’t careful about the type of loan or terms you agreed to with a lender. But now that rates have crept up, you want to make sure you not only get the lowest rate you can, but also the best type of loan and terms possible.

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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. With this expert-backed guide, we’re here to help: Here’s how to apply for a first time home buyers loan in eight manageable steps. You can qualify for loans with as little as 3.5%

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RIS Media

OCTOBER 22, 2020

Here are some tips from Zillow for how your buyers can score their dream home despite the bustling market: Financing. Evaluate your current credit situation and make a game plan to clean up your credit score, if needed, prior to starting the pre-approval process.”

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Realty Biz

SEPTEMBER 23, 2023

They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. When choosing a buyer's agent, consider factors like experience and qualifications.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Realty Biz

FEBRUARY 7, 2023

Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. Once you have figured out the loan term and whether it is fixed or assumable, you should consider the loan type. What Type of Loan Program Works For You?

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Real Trends

MARCH 29, 2023

Most buyer qualification concerns are about money. There could be different concerns depending on if the buyer is pre-qualified, pre-approved or loan committed? If you are representing the buyers, ask the lender to call the listing agent and vouch for the buyer’s pre-approval. How qualified is the buyer?

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Marco Santarelli

OCTOBER 6, 2023

However, certain programs like FHA loans and VA loans allow for lower credit scores. FHA loans can accept a credit score as low as 500 with a higher down payment, while VA loans often require a credit score of 580. VA Loan: VA loans are exclusively available to veterans and service members.

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Realty Biz

DECEMBER 12, 2022

A mortgage is a loan that you take out from a bank or other financial institution to buy, build or substantially improve on a property. There are many different types of mortgages , including conventional, FHA, VA, and USDA loans. What to Know When Getting a Home Loan. You may need a bad credit home loan which is not attractive.

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

Redfin

JULY 11, 2023

A mortgage is a loan specifically designed for purchasing a property, commonly a home. In the event that the borrower fails to repay the loan, the lender has the right to take possession of the property through a legal process known as foreclosure. How does the mortgage pre-approval process work? What is a mortgage?

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

McKissock

JANUARY 31, 2021

There isn’t one loan that fits all. Different types of loans work for different people. After the lender looks at your client’s credit and income history, they should offer the best available loan for them. Often, lenders do a pre-qualification that is strictly based on the information that the client gives the lender.

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

Windemere Buying

JULY 8, 2022

They’ll also receive alerts on open houses and are usually the first to know when new listings hit the market. They are an invaluable resource for local market knowledge and real estate expertise. Mortgage brokers are not responsible for loaning any money. What is the required down payment for this loan?

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Agents Pre-qualification Mortgages Pre-approval 52

CT Homes

AUGUST 31, 2020

There is a huge difference between a pre-qualification and a pre-approval. Most lenders or mortgage companies will issue a pre-qualification letter after reviewing the credit report and taking verbal information on income, assets and employment. In many markets the reality may tell a different tale.

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Earnest money deposit Pre-qualification Pre-approval Inspection 105

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. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

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Toronto Realty Blog

DECEMBER 1, 2023

TorontoRealtyBlog On Wednesday, I took a look at the pre-construction condominium market in Toronto and how prices and those sweet builder “incentives” look this fall. Today, I want to continue the pre-con theme and present you with a story that I’ve been holding on to for about a month now. There was no catch.

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HomeLight

JUNE 28, 2021

With properties often available below market value and down payment options potentially as low as 3.5% , purchasing a HUD home could be your golden ticket. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores. What is a HUD home?

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HomeLight

OCTOBER 27, 2020

Some types of loans do require you to provide your tax returns. Step 1: Determine what kind of loan you want (and can get). That’s not true of every loan, though. If you are applying for an FHA loan , for example, you’ll have to provide your tax returns, no matter what. What’s a qualified mortgage loan? .

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Debt-to-income ratio Pre-approval Pre-qualification Loans 104

Redfin

APRIL 7, 2023

The housing market is competitive and fast-paced, making it crucial to have the right guidance and expertise on your side. Whether you’re a newcomer to the area or you currently rent an apartment in Dallas , these tips will provide valuable insights and strategies for success in the Dallas housing market. Let’s get started.

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Pre-approval Agents Pre-qualification Mortgages 62

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.

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

Housing Wire

FEBRUARY 14, 2024

Soft credit pulls are a critical tool that our member mortgage loan originators use to work with underserved borrowers — particularly borrowers with credit blemishes — to improve their credit score and ultimately obtain a pre-qualification or an actual mortgage loan,” the CHLA wrote in a letter to the three credit bureaus on Wednesday.

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RIS Media

AUGUST 5, 2020

The 2019 – 2020 State of Asia America Report , an annual AREAA publication, provides a snapshot of the state of AAPI homeownership pre-COVID-19. In 2018, Asian Americans generated 223,906 conventional loans, which amounted to $86.4 billion in loan value. Additional closing costs associated with VA loans.

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Housing Wire

JUNE 1, 2022

Amid the traditionally busy spring homebuying season, industry professionals are looking for new paths to profitability in a tight purchase market. As these hurdles to homebuying collide with more Millennials entering the housing market, a focus on efficient automation and custom solutions could be the key to success in 2022.

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HomeLight

AUGUST 31, 2022

Increasing inflation on everything from gas to groceries and the reinstatement of student loans and other repayments (paused during the pandemic) are prompting some consumers to explore avenues to maximize their assets if times get tough. What qualifications do I have to meet to access my home’s equity? How Much Is Your Home Worth Now?

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Realty Biz

SEPTEMBER 7, 2020

The real estate market is doing some weird and wonderful things in light of the pandemic. Many areas are experiencing an aggressive sellers’ market, unlike any they’ve experienced before. In a seller’s market, this should be on par with similar homes or a bit less. Market Like a Pro. Set the Right Price.

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