HomeLight

JUNE 19, 2023

If you’re gearing up to buy a home, you might be confused by some of the mortgage terminology you encounter. Like pre-qualification or pre-approval. Let’s lay it all out: How pre-qualifications and pre-approvals are similar Pre-qualifications and pre-approvals have a few things in common.

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Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

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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. But why is it so important?

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Maximum Exposure Real Estate

MAY 3, 2023

How Pre-approval For a Mortgage Differs From Pre-qualification When buying your first house, understanding pre-approval for a mortgage becomes essential. Many first-time buyers will seek knowledge on how to get pre-approved for a mortgage.

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Realty Biz

FEBRUARY 22, 2024

Glossy online listings behind your computer screen might fuel your dream home fantasy, but the home-buying process truly begins in earnest when a lender is contacted to be pre-approved for a mortgage. Once this process is complete, the lender will provide you with a pre-approval letter. Know Your Credit History.

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RIS Media

FEBRUARY 21, 2024

If you got preapproved for a home loan that’s smaller than what you think you can afford, you might be able to get a larger mortgage. Include… The post How to Increase Your Mortgage Pre-Approval appeared first on RISMedia. Here’s how… Improve your credit.

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Maximum Exposure Real Estate

AUGUST 16, 2023

A mortgage pre-approval is a crucial step in the home-buying process. It states on the letter how long the pre-approval is valid, typically around 90 days. Understanding the duration of […] The post How Long is a Pre-approval For a Mortgage Good For?

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Windemere Buying

MARCH 1, 2023

Before you begin your home buying journey , it’s helpful to know about pre-approval, pre-qualification, and proof of funds, and the role they play in a real estate transaction. Homeownership Terms to Know: Rent-Back Agreement, Joint Tenancy & More Pre-Qualification and Pre-Approval What is pre-qualification?

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RISMedia

SEPTEMBER 14, 2023

By Bill Gassett Mortgage pre-approval and pre-qualification are two different processes that help you secure a mortgage for buying a house. On the other hand, pre-approval involves a more detailed review of your financial and credit situation. appeared first on RISMedia's Housecall.

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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? To me, it’s that important.”

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Realty Biz

AUGUST 21, 2023

When your mortgage pre-approval expires, it can impact your home-buying process. A pre-approval is crucial in determining your loan eligibility and understanding your purchasing power. A mortgage pre-approval is typically good for 60-90 days , so it is crucial to remember this time frame.

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Housing Wire

JUNE 20, 2024

Oklahoma -based Adfitech , a mortgage industry partner for quality control and risk management services, has changed its name to Mortgage Connect Risk Solutions. The move reflects the company’s 2022 acquisition by Pennsylvania -headquartered Mortgage Connect LP.

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Lighter Side of Real Estate

SEPTEMBER 12, 2023

If you’ve been searching for a house for any amount of time, you’re probably well aware of how important it is to get a mortgage pre-approval before you even start looking at houses, or at least as early on in the process as possible. When Should You Update Your Pre-approval? Pre-approvals aren’t good forever.

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Housing Wire

JUNE 30, 2021

In today’s booming housing market, mortgage brokers want to be able to close loans faster and more efficiently. This gives brokers a more robust pre-approval that can compete with cash offers, and subsequently, shorten the processing and underwriting cycle times by almost half. Chief Production Officer Jay Promisco said.

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Housing Wire

SEPTEMBER 16, 2024

The country’s largest wholesale lender, United Wholesale Mortgage (UWM), has launched a broker training program that will teach individuals to become licensed mortgage originators. UWM announced the move Saturday at the Association of Independent Mortgage Experts ’ (AIME) annual FUSE event in New Orleans. 21, 2024.

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Housing Wire

SEPTEMBER 6, 2023

The Consumer Financial Protection Bureau (CFPB) last week made a quiet change to its guidance related to the Real Estate Settlement and Procedures Act (RESPA), affirming that mortgage originators who partner with U.S. The change was confirmed through a LinkedIn post by HUD Deputy Assistant Secretary for Housing Counseling David Berenbaum. “The

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Housing Wire

OCTOBER 2, 2024

Educate your buyer clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being pre-qualified, pre-approved and loan-committed.

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HomeLight

OCTOBER 27, 2020

When you’re getting ready to start looking for homes, you’re probably dreaming about more space, a big backyard, or a garage, rather than low mortgage interest rates. Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Don’t let that be you! Prequalification.

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First Team Real Estate

AUGUST 31, 2020

If you’ve read any tips for homebuyers then chances are you’ve heard that you need to get pre-approved for a mortgage loan. The question is – how exactly do you get the pre-approval? Here are the steps you need to take to get pre-approved for a mortgage loan and the most important facts you need to get you there.

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BAM Media

JULY 2, 2024

Each letter stands for a pillar in the agent-client conversation: L = Location P = Price M = Motivation A = Agent M = Mortgage A = Appointment According to Zillow , 70% of people who sold a home also bought a home last year. I’m not a big fan of asking, “ Hey, are you pre-approved ? Don’t ask: “Are you preapproved?”

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Housing Wire

OCTOBER 1, 2024

However, the most recent ACES Mortgage QC Industry Trends Report found critical defect rates jumped up in the first quarter (Q1) of this year. Not only does this break a five-quarter-long downward trend, but this uptick in defects happened at a time when mortgage originations were at their lowest levels since 2000.

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Housing Wire

JANUARY 25, 2023

Embattled digital lender Better.com launched a program that will allow customers to apply for a mortgage, get pre-approved, lock their rate and receive a mortgage commitment letter within 24 hours. CEO Vishal Garg first announced the program at the Inman Connect conference in New York. Better.com originated $9.8

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Housing Wire

OCTOBER 1, 2020

Realtor.com and Rocket Mortgage , two of the biggest companies in the digital real estate space, have formed a key advertising partnership that their competitors are sure to notice. We send them a link to get digitally preapproved through Rocket Mortgage, and we alert the agent that they’re going through this flow. .”

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Housing Wire

FEBRUARY 1, 2023

The slowdown in the Federal Reserve ‘s short-term rate hikes , announced on Wednesday, was welcome news for the mortgage market and solidified expectations that the 30-year mortgage rates will drop throughout 2023. The MBA forecasts a modest drop in mortgage rates through 2023, ending closer to 5%. in February 2022.

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Housing Wire

JANUARY 18, 2022

Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said. And unlike conventional mortgages, there are no down payment requirements.

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Housing Wire

JANUARY 18, 2023

Columbus, Ohio-headquartered lender Lower rolled out mortgage as a service platform that enables consumer finance, banking and real estate companies to offer its mortgage products. . iBuyer Opendoor is Lower’s first mortgage platform customer, which Snyder said will help the platform expand its reach. . population.

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Housing Wire

DECEMBER 6, 2022

million in its seed round to build a mortgage-as-a-service platform for fintechs, banks and retail banks. The built-in underwriting logic aims to deliver quick and accurate decisions to borrowers with maximum affordability approvals and automated tasking. Startup Pylon raised $8.5

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Housing Wire

MARCH 23, 2023

Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. An increase in MBA’s PAPI – indicative of declining borrower affordability conditions – means that the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates or a decrease in earnings.

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Housing Wire

JANUARY 20, 2021

And not just research on the best down payment or neighborhood to live in – you should also search the right mortgage lender. . The type of mortgage loan you qualify for is just as important as the mortgage lender you work with. The good news, it’s easy to find a mortgage lender. Buying a home?

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Redfin

JUNE 23, 2023

When it comes to buying a home, obtaining a mortgage pre-approval is an essential step in the process. A mortgage pre-approval provides you with a clear idea of your budget, helps you narrow down your home search, and makes you a serious contender in the eyes of sellers. What is a mortgage pre-approval?

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RIS Media

MAY 25, 2021

The post Need Buyers Pre-Approved Quickly? Or Mortgage Loan Leads? We’ve Got You Covered! appeared first on RISMedia.

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Housing Wire

AUGUST 4, 2022

Two years after acquiring RoundPoint Mortgage Servicing , Freedom Mortgage Corp. has inked a deal to sell the nonbank mortgage servicer to Matrix Financial Services Corp. another leading mortgage servicer and a wholly owned subsidiary of real estate investment trust Two Harbors Investment Corp. million premium.

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Housing Wire

MARCH 29, 2023

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications. And, following investors’ rush into bonds after the recent bank failures earlier this month, yields moved even lower last week — and mortgage rates followed.

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RIS Media

MARCH 25, 2021

If you’re just starting out with the home-buying process, you may want to get a mortgage pre-approval. This is a statement from a lender that informs you of a certain amount you are qualified to borrow, as well as a specific pre-approved interest rate. Not only will this help you, but to sellers and agents as well.

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Housing Wire

DECEMBER 22, 2020

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. Pre-approval.

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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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Housing Wire

MAY 24, 2024

In fact, according to a recent study, millennials currently struggle with so much debt that 25% worry they won’t qualify for a mortgage. Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans.

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