Housing Wire

APRIL 7, 2021

A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.

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Housing Wire

AUGUST 22, 2020

The FHFA has been widely criticized both for the reasoning given for the fee and the short three-week notice to lenders and homeowners already in the middle of a refinance process. However, when this policy was announced, no further explanation was provided to justify the additional cost to homeowners.

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Housing Wire

JANUARY 13, 2021

and how much a potential homeowner would need to earn to live comfortably. They look at your credit score, debt-to-income ratio, which is the percentage of your monthly gross income that goes toward paying debts and your projected down payment. New York City, New York. Affording a home in the U.S.

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Housing Wire

MAY 4, 2022

Household balance sheets have improved: Since the Great Recession, mortgage rates have generally declined helping homeowners refinance into lower mortgage payments, while steadily rising home prices have significantly boosted homeowner equity.

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Housing Wire

AUGUST 23, 2023

” Better is partnering with other businesses to offer services such as homeowner’s insurance and to provide access to a network of real estate agents, rather than offering these products and services directly to borrowers. is expected to begin trading on the Nasdaq Stock Exchange on Thursday under the ticker symbol “BETR.”

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Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. Additionally, for homeowners that stay with the same carrier and policy, renewal rates have experienced an even steeper incline.

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Realty Biz

APRIL 5, 2022

Homebuyers and/or homeowners can qualify for an FHA and/or VA loan during Chapter 13 Bankruptcy one year into the Chapter 13 repayment plan. Manual underwriting is similar to automated underwriting system approval except there is lower debt to income ratio cap. Debt to Income Ratio on Manual Underwriting.

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Broke Agent Media

FEBRUARY 13, 2023

BAM Key Details: Fannie Mae’s National Housing Survey shows homeowners are increasingly worried about the ability to save money and afford necessities, including mortgage payments. With inflation outpacing wage growth, many have had to resort to using their previously built-up savings while also taking on more consumer debt to cover expenses.

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Housing Wire

MARCH 4, 2021

In proposing to extend the date by which lenders must comply with the CFPB’s new General QM definition, we are working to provide needed options for both homeowners and lenders during a time of uncertainty and hardship.”. Amending the QM Rule has been a long process.

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HomeLight

JANUARY 29, 2024

When a homeowner needs fast access to cash for a life change or opportunity, their first thought may be to tap into their equity. homeowners. It’s a creative option to battle high interest rates, monthly income limitations, or hurdles like low credit scores and stringent lending criteria.

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RIS Media

JUNE 5, 2021

Homeowners who haven’t capitalized on historically low mortgage rates are getting another chance to lower their monthly payments under Fannie Mae’s new RefiNow option. The program offers low-income homeowners with Fannie Mae-backed mortgages an opportunity to refinance and save money on their loan payments.

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Keeping Current Matters

AUGUST 20, 2020

As reported by Odeta Kushi, Deputy Chief Economist for First American : “Despite the federal foreclosure moratorium, there were fears that up to 30% of homeowners would require forbearance, ultimately leading to a foreclosure tsunami. Today, the options available to homeowners will prevent a large spike in foreclosures.

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RIS Media

JUNE 3, 2021

Those who could not get refinanced were declined for many of the same reasons, from a high debt-to-income ratio to poor or no credit history. High Debt-to-Income Ratio . Your debt-to-income ratio is the percentage of your monthly gross income used to pay off your debts.

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Housing Wire

MAY 3, 2023

. “The home purchase market is more sensitive to a reduction in mortgage rates at current rate levels, with the refinance option still out of the money for a vast majority of homeowners (…). Additionally, higher rates create higher debt-to-income ratio calculation, resulting in qualifying for lower mortgage amounts,” Mendenhall said.

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Housing Wire

JUNE 29, 2022

The report found that while the majority (75%) feel confident about eventually securing a mortgage, a large percentage of millennial and Gen Z future homebuyers see an insufficient down payment or closing funds (46%), their high debt-to-income ratio (45%) and bad or no credit (38%) as barriers to approval.

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Housing Wire

MARCH 10, 2023

Though “it’s not cheap money,” Toohig said it’s on “smaller balances of $50,000 to $100,000, not a $400,000 mortgage,” so that makes it more attractive to homeowners, especially those not interested in giving up their low 3% mortgages by refinancing to pull out equity at new rate that is twice as high today.

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Housing Wire

MARCH 30, 2021

When the Bureau announced its proposal to delay the rule, it cited concern for homeowners affected by the pandemic. “At In proposing to extend the date by which lenders must comply with the CFPB’s new General QM definition, we are working to provide needed options for both homeowners and lenders during a time of uncertainty and hardship.”.

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Housing Wire

AUGUST 5, 2022

Their letter cites findings from the Urban Institute, that for nonbank originations, median credit scores are consistently lower, and median debt-to-income ratios are consistently higher than those of banks. of mortgages and 5.9% of bank loans. “In

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Realtor.com

APRIL 20, 2021

For many Hispanic buyers, COVID-19 cemented their desire and accelerated their plans to become homeowners. They’re expected to make up 70% of new homeowners over the next 20 years. However, there are challenges that are holding back more Hispanic buyers from becoming homeowners. of Latino wealth. . down payments.

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Housing Wire

JULY 25, 2023

According to Sandy Williams, an eXp Realty agent in Sarasota, homeowners’ insurance costs have doubled for many in her metro area ( flood insurance costs have also risen dramatically). “I I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said.

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HomeLight

NOVEMBER 17, 2023

A critical aspect your lender will assess is your debt-to-income ratio (DTI). They usually require that your current home is already on the market and offer the bridge loan for a period ranging from six months to a year.

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HomeLight

DECEMBER 5, 2023

Are you a Connecticut homeowner caught in the challenging dance of selling your old home and buying your new one? It’s a common situation that many homeowners face, and that’s where a bridge loan comes into play. Your lender might need to crunch the numbers and calculate your debt-to-income ratio (DTI).

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Realty Biz

AUGUST 20, 2023

Going from renter to homeowner is exciting, but you must follow these essential steps. It involves assessing your credit score, managing your debt-to-income ratio, gathering the necessary financial information and documents, and reviewing and improving your credit history. Most will approve shortly after you apply.

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GeekEstate

JUNE 26, 2022

Landis leverages data to create customized financial plans for our clients so that they can save more money, improve their debt-to-income ratio, increase their credit score, and build a stronger financial foundation. We want to make the journey to owning a home more accessible, transparent and empowering. What’s next for you?

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HomeLight

FEBRUARY 28, 2024

Here are some of the most common reasons homeowners decide to invest in a second property: Vacation getaway: A personal retreat in your favorite vacation spot, where you can relax and unwind any time you wish. Rental income: A source of passive income through short-term rentals or long-term leases.

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Realtor.com

FEBRUARY 3, 2022

While most homeowners will make a sizable down payment on a house (typically 3.5% What is debt-to-income ratio? While up to 28% of your income can go toward housing, this is likely not the full picture, since you might have other debts such as credit cards or college loans.

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HomeLight

NOVEMBER 3, 2023

Think of it as a temporary financial bridge that assists homeowners during the transition between properties. Still, for many Utah homeowners, this tool proves invaluable in their property journey. 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.

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GeekEstate

JUNE 21, 2022

Homeowners can use the funds for anything — paying off high-interest credit card debt, paying off a large, unexpected expense, starting a business, or even buying a second home. As things change globally, our product is here to help homeowners across North America save. What are you most excited about right now?

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Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Your credit score, debt-to-income ratio, and payment history will also affect your eligibility. Lenders often offer better rates to borrowers with lower LTV ratios because they are seen as less risky.

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HomeLight

OCTOBER 25, 2023

A frequent scenario arises in the Arizona real estate market: a homeowner finds their next dream property but hasn’t yet sold their current one. Your lender’s evaluation may involve crunching some numbers around your debt-to-income ratio (DTI). How does a bridge loan work in Arizona?

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Realty Biz

FEBRUARY 11, 2021

That’s assuming your credit rating is in good shape because the other major qualifying criteria are your debt-to-income ratio and down payment. Not stretching your budget should keep you well within the debt-to-income ratio and the $39,000 in equity will go along way towards the down payment.

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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. Jumbo loans often require a strong credit score, a low debt-to-income ratio , and, typically, a higher down payment.

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HomeLight

NOVEMBER 29, 2023

For many homeowners, it might seem like the only viable path is to sell first, then endure the inconvenience of moving to a temporary location while hunting for that perfect new home. An important factor in this process is your debt-to-income ratio (DTI).

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Realty Biz

NOVEMBER 14, 2020

Combine that with the fact that as a homeowner you are building equity, and increasing your net worth, and you realize buying a home can be a great choice. Having a low debt to income ratio and a solid credit score allows you to qualify for a mortgage with the best possible interest rate.

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Realty Biz

DECEMBER 12, 2022

Becoming a homeowner is the goal of many folks. Going from being a renter to a homeowner isn't always as easy as it seems. Although making a smaller down payment can enable access to the homeowner market earlier, it may cost more in the long run. Stay Comfortably Within Your Debt-to-Income Ratio.

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Marco Santarelli

APRIL 11, 2024

It's a topic that captures the attention of homeowners , investors , economists , and policymakers alike. High Levels of Household Debt : When households take on more debt than they can handle, often due to the availability of easy credit , it's a warning sign.

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Realtor.com

NOVEMBER 9, 2022

Just ask the 14 million nontraditional earners who became homeowners. Lenders will examine your income, debt-to-income ratio , assets, and credit score. It might have been that your debt-to-income ratio was too high, or your income was inconsistent. What to do if you get turned down.

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