Housing Wire

FEBRUARY 9, 2022

and get a pre-approval for a mortgage from the comfort of your own laptop. Yet, there remains a dark cloud over the general perception of the part of the process that occurs somewhere between the signing of the sales agreement and the exchange of house keys — the mortgage approval and settlement/closing process.

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Housing Wire

DECEMBER 29, 2023

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Housing Wire

MAY 10, 2023

This has serious consequences for real estate agents and loan officers alike, since it’s usually a zero sum game. I sent pre-approvals two-to-three times a day, and then there are 30-plus offers on the homes and I virtually never get contracts,” one veteran loan officer told HW in late March.

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HomeLight

OCTOBER 27, 2020

Do you know the difference between pre approval vs pre qualified when it comes to mortgage loans? Marcus Rittman, director of mortgage operations at HomeLight Home Loans, has seen that “the catalyst for most homeowners wanting to get approved for a mortgage is finding a home that they love.” Bank statements.

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Housing Wire

SEPTEMBER 2, 2021

It also allows sellers access to a network of pre-approved buyers to expedite the process. “We’ve proven that technology can help transform the transaction experience, and we couldn’t be more excited to bring that technology to top agents, homebuyers, and sellers everywhere.”. .

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Housing Wire

JANUARY 8, 2021

But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market. Even some of the most seasoned real estate agents have had to slow down in their current business model. This is now more than ever a time of understanding, patience and resilience.

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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

APRIL 22, 2024

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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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Housing Wire

MARCH 6, 2023

The lack of inventory makes business even more difficult for loan officers, whose real estate agent referral partners simply don’t have many buyers ready to pull the trigger. “I’ve got several pre-approvals out there where people just can’t find what they want and the rates are throwing them off,” Monsoon said.

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Loan Officer Loans Pre-approval Mortgages 397

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork.

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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. But the industry was on a roller coaster with rates climbing near 7% in February and hitting 8% in October as the central bank battled to bring down high inflation.

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Loans FHA loan Mortgages Loan Officer 459

Housing Wire

NOVEMBER 17, 2023

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Windemere Selling

MARCH 3, 2025

Look to your real estate agent for advice and keep the following guidelines in mind. Because, if the scores differ, the bank will typically use the lowest one. Pre-approval lets sellers know youre serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend. #3

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Keeping Current Matters

DECEMBER 14, 2021

AJ Barkley, Head of Neighborhood and Community Lending for Bank of America , says : “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.”. For first-generation homebuyers, that feeling of accomplishment is even greater.

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Housing Wire

NOVEMBER 13, 2023

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Housing Wire

SEPTEMBER 14, 2020

Consumers go online and shop for rates or contact the lender their real estate agent has suggested. But without enough information about the borrower, the lender will struggle to provide a pre-approval. Banks and credit unions have existing relationships that provide consumer data they can use to process the loan.

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Housing Wire

NOVEMBER 30, 2023

In Illinois, real estate agents are called brokers. While we might use the words “agent” and “broker” synonymously here, there is a difference between a broker’s license and a managing broker’s license in Illinois. Visit Website Overview According to the CE Shop, its prelicensing student satisfaction rate is 96%.

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Housing Wire

DECEMBER 8, 2023

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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. When we had agents, we were not large enough to provide the consumer full coverage [geographically].

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Housing Wire

APRIL 18, 2023

Now that the market has turned, do you see any challenges for your purchase call center agents ? Because there are retail LOs building that in-person relationship with their real estate agents and financial advisors. The call center is going to be the in-market agent’s best friend. It’s a flat system.

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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 17, 2021

Real estate agents are there to facilitate home purchases, whether you’re representing buyers or sellers. Here are a few ways real estate agents can aid homebuyers. . Too many real estate agents ask people to describe their dream home and nothing else. Explain the difference between pre-qualified and pre-approved.

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Realty Biz

JANUARY 29, 2022

Not Getting Pre-Approved. In a tight market, making an offer loaded with contingencies, such as mortgage approval, isn’t likely to make you successful. Get pre-approved for a mortgage. If you’re a veteran, look to the Veterans Affairs office for pre-approval too. What To Do Instead.

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Toronto Realty Blog

FEBRUARY 20, 2025

In order to build a condominium in Ontario, the developer will pre-sell units, that don’t yet exist, and when a certain threshold is met (ie. 80%), one of the major banks will finance the project and give the go-ahead to begin construction. ” Don’t even get me started about the price that was paid in pre-construction.

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Realtor.com

NOVEMBER 28, 2022

designer491/Shutterstock What is a pre-qualification letter? I tell most people they can take that pre-qualification letter and throw it in the trash,” says Patty Arvielo , a mortgage banker and president and founder of New American Funding, in Tustin, CA. So is it worth pursuing pre-qualification before bidding on a house?

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Realtor.com

JANUARY 7, 2021

Although this is a major milestone on the march toward closing, there are many points where this deal can go off the rails—like if you find out your home buyer wasn’t approved for a mortgage. Why home buyers aren’t always approved for a mortgage. Still, pre-approval is not a guarantee that a buyer will get a loan.

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Loans Purchase and sale agreement Pre-approval Debt-to-income ratio 133

HomeLight

SEPTEMBER 30, 2020

“You have to wait for the current owner’s bank to approve the short sale,” says Jessica Sanchez, Director of Underwriting and Loan Management at HomeLight. To ensure they get a good deal, the bank will review things such as the current owner’s payment history, current market state, and also comps.

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Marco Santarelli

FEBRUARY 7, 2025

Let's delve into the critical factors that set the 2025 housing market apart from the pre-crash era. During the mid-2000s, subprime lending was prevalent, and average credit scores for approved mortgages were likely lower than post-crisis averages. Work with a reputable lender to get pre-approved for a mortgage.

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Windemere Buying

JUNE 7, 2021

Getting pre-approved is a great first step for buyers, but there can be a number of hurdles in the process. Pre-approval is broken down into two steps: pre-qualification and pre-approval. Large cash purchases decrease a buyer’s cash-readiness from the time when they were pre-approved.

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Pre-approval Debt-to-income ratio Pre-qualification Loans 52

BAM Media

JULY 2, 2024

While most agents are headed toward beach towels and piña coladas, summer is your prime time to hone in on your business and set yourself up for dominating the second half of the year. There are key questions every agent should be asking home buyers. I’m not a big fan of asking, “ Hey, are you pre-approved ?

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Realtor.com

AUGUST 13, 2020

Jason Lee , executive vice president and director of capital markets at Flagstar Bank, says some lenders aren’t offering the loans that are considered riskier—such as jumbo loans , which exceed the conforming loan limit (for 2020, that max is $510,400). Mortgage pre-approval is all the more essential in the era of the coronavirus pandemic.

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The Close

NOVEMBER 8, 2020

If you’re a real estate buyer’s agent, there’s no doubt you are BUSY. Buyers tend to take a lot of time, have a ton of questions, and need plenty of attention from their agents, making life as a buyer’s agent a little crazier than most of us would like. Real Estate Buyer Agent Checklist #1: Mortgage Pre-approval.

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Realtor.com

NOVEMBER 11, 2022

monkeybusinessimages/iStock No, it’s not leaping into buyer mode by picking out a real estate agent who has pretty homes, setting up a home inspection, and then moving in your sectional couch. Step 2: Qualify for a home loan or loan pre-approval.

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Lighter Side of Real Estate

NOVEMBER 20, 2024

You can browse listings from your couch, get pre-approved for a mortgage, and even apply for mortgages with a few taps right online, all without speaking to a single person. From pre-approval to closing, they’re with you every step of the way, answering questions and ensuring no detail is overlooked.

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Redfin

MARCH 4, 2025

Key takeaways A foreclosed home means the buyer can no longer make payments and the bank has taken the house. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. If the auction accepts financing, make sure you have a pre-approval ready.

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Realtor.com

AUGUST 6, 2020

Even at the best of times, house hunting comes with lots of built-in stressors, from mortgage approvals to bidding wars and beyond. In many cases, you may have to make do with photos or videos posted by the sellers or their agents. You must work with a real estate agent you trust. That changes the game entirely. realtor.com.

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