Housing Wire

DECEMBER 13, 2024

Despite rising rates that fueled this increase, debt-to-income ratios did not see a significant change in the same period. Additionally, non-depository institutions like independent mortgage banks (IMBs) secured a higher share of application and origination activity in 2023 when compared to banks and credit unions.

Debt-to-income ratio 370

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Fannie Mae and Freddie Mac have had affordable lending goals for years, but the impact of closing the minority homeownership gap has not been that significant.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Keeping Current Matters

DECEMBER 21, 2020

Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender. New debt comes with new monthly obligations. People with new debt have higher debt-to-income ratios.

Debt-to-income ratio 338

Debt-to-income ratio Mortgages Loan Officer Banks 338

Housing Wire

MAY 3, 2023

Mohtashami anticipates that the Fed will push a pause on the interest rate hike in the next meeting, as the central bank is counting on credit getting tighter to create job recession. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. Underwriters with hidden agendas. Only borrowers have the right of rescission.

Lending 476

Lending Mortgages Due diligence Debt-to-income ratio 476

Housing Wire

FEBRUARY 1, 2022

Fitch Ratings also notes that the reference loan-pool borrowers “have a strong credit profile,” with an average FICO credit rating of 748 and a debt-to-income ratio of 36%. Prior to restarting CRT offerings last year, Fannie Mae had backed away from the CRT market for a time — with its prior transaction closing in March 2020.

Debt-to-income ratio 370

Debt-to-income ratio Investor Loans Principal 370

Housing Wire

NOVEMBER 10, 2020

“I told my client, my friends, ‘Look, I know you’re supposed to close in 10 days but we’re closing Friday and you let everybody know it or you may not close,’” Dodson said. “And damn if we didn’t close Friday and they shut it down Monday.” That’s when we get ‘em.

Debt-to-income ratio 459

Debt-to-income ratio Loans Banks Loan Officer 459

Housing Wire

AUGUST 22, 2024

We worked together during my days on the House Banking Committee, working to improve dealing with the federal flood insurance program. In addition, Steve fails to acknowledge the pain this shift creates for vulnerable buyers, those who barely scrape together enough cash to make it to the closing table.

Debt-to-income ratio 353

Debt-to-income ratio Finance Mortgages Banks 353

Housing Wire

AUGUST 26, 2024

Many independent mortgage banks opted to sell a substantial portion of their MSRs, aiming to free up cash and stay afloat amidst declining origination activity, anticipating future regulatory capital requirements or simply lacking interest in maintaining these assets. trillion once the Flagstar deal closes. That’s our goal.”

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

Housing Wire

AUGUST 23, 2023

The business combination closing, announced Wednesday, unlocks approximately $565 million of fresh capital, including a $528 million convertible note previously committed from affiliates of SoftBank and additional common equity from funds affiliated with NaMa Capital (formerly Novator Capital). We had Ally Bank and American Express.

Debt-to-income ratio 370

Debt-to-income ratio Technology Mortgages Pre-approval 370

Housing Wire

MAY 9, 2023

Independent mortgage banks have been coping with a still-surging wave of loan-repurchase requests from Fannie Mae and Freddie Mac that represents yet another threat to lenders’ already stretched balance sheets. He added that loan defects often leading to repurchase requests include, among others, borrower income-related issues (i.e.,

Loans 397

Loans Debt-to-income ratio Banks Mortgages 397

Housing Wire

MARCH 10, 2023

A host of nonbanks and traditional depository lenders, such as banks and credit unions, as well as a growing number of fintech firms continue to ramp up efforts and product lines to meet that demand. As of March 8, according to Commerce Bank , the prime rate was 7.75%. Toohig said Raymond James finished the year with some $1.1

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Marco Santarelli

MARCH 4, 2025

Debt-to-Income Ratio (DTI): Lenders want to see that you have a handle on your debt. A lower DTI (the percentage of your gross monthly income that goes towards debt payments) signals that you're a less risky borrower. Credit Score: A higher credit score (typically 740 or above) will get you the best rates.

Mortgages 95

Mortgages Debt-to-income ratio VA loan FHA loan 95

Realty Biz

OCTOBER 25, 2021

You must also have enough liquid capital leftover in order to cover all of your closing costs. Processing and administrative fees, closing agent fees, and credit report fees are just some of the expenses that you will need to cover before you receive your keys to the home. If your financial profile is impressive then you may qualify.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages Closing costs Equity 108

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. Banks and other firms are using underwriting standards that were set by Fannie Mae and Freddie Mac decades ago.

Debt-to-income ratio 124

Debt-to-income ratio Technology Loan Officer Banks 124

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. Did the bank require a down payment that was too high, for example? Still, pre-approval is not a guarantee that a buyer will get a loan.

Loans 133

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

RIS Media

NOVEMBER 2, 2020

You may think that cleaning out your bank account to make a large down payment on a house would be a smart move, but that’s inaccurate. You should have money left over in mortgage reserves so you’ll be able to pay your loan principal, interest, taxes and insurance if you experience a loss of income.

Debt-to-income ratio 64

Debt-to-income ratio Closing Mortgages Loans 64

Marco Santarelli

FEBRUARY 26, 2025

Let's see how refinance rates by Zillow are shaping up: Refinance Type Rate 30-Year Fixed 6.36% 20-Year Fixed 6.01% 15-Year Fixed 5.68% 5/1 ARM 6.78% 7/1 ARM 6.74% 30-Year VA 5.82% 15-Year VA 5.47% Interestingly, the refinance rates are pretty close to the purchase rates, and in some cases, even slightly higher. A: Great question!

Mortgages 93

Mortgages VA loan Debt-to-income ratio Fixed-rate mortgage 93

HomeLight

JUNE 30, 2024

Hard money loans offer a flexible financing option outside of traditional banks, perfect for those who need quick cash, have limited savings, or face credit issues. Unlike traditional banks that prioritize your credit score and income, hard money lenders in Orange County focus on the value of the property used as collateral.

Hard money loan 112

Hard money loan Finance Debt-to-income ratio Home sale contingency 112

Realtor.com

FEBRUARY 11, 2021

Unless you have enough money in the bank to buy a house with cash, you’ll need a mortgage. They can also tell you how much of a mortgage you qualify for, which is determined in part by your debt-to-income ratio. Can you afford the closing costs? When you’re buying, you have closing costs and a down payment.

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

Realtor.com

JANUARY 17, 2022

Remember, banks don’t care about personal issues and will hold both parties on a mortgage liable for any missed payments. Review debt-to-income ratio: According to McDaniels, the party planning to keep the home must ensure that they can afford the mortgage on the single income. .

Banks 84

Banks Debt-to-income ratio Title Lending 84

HomeLight

JULY 7, 2022

Make sure you know whether you’ll need to pay HOA fees, so you can incorporate the cost into your monthly dues before you close on your new home. But it’s important to make sure that your down payment and monthly expenses aren’t going to drain your bank accounts, and that you save some of that cash for emergencies. Monthly debt: $250.

Debt-to-income ratio 122

Debt-to-income ratio Closing costs FHA loan Loans 122

Realty Biz

AUGUST 20, 2023

It's essential to gather the necessary documentation, such as bank statements and pay stubs, to support your application. Pre-approval requires you to submit documentation such as bank statements, pay stubs, and a comprehensive credit history review, resulting in a more accurate assessment of your borrowing capacity.

Pre-approval 94

Pre-approval Debt-to-income ratio Mortgages Loans 94

HomeLight

JULY 29, 2022

Closing on a house is a thrilling time for buyers : Once you’ve found the one and have an accepted offer, you’re ready to grab the keys and make it your own. But closing time can also be plenty to rack your nerves. What can go wrong on the buyer’s side at closing. Problem: There’s an issue with the Closing Disclosure.

Closing 105

Closing Purchase and sale agreement Title Home sale contingency 105

HomeLight

MARCH 9, 2023

The most common forms of assistance or alternative loan fall into the following broad categories: Down payment assistance programs Government-backed loans Low-income loans Down payment assistance program Down payment assistance programs help first-time homebuyers who need cash for a down payment.

Loans 96

Loans Debt-to-income ratio VA loan FHA loan 96

Realty Biz

FEBRUARY 22, 2024

Key Takeaways from this Article Gather all documentation to get pre-approved, including your SSN, proof of income, banking information, and tax forms. Make sure all your finances are squared away, including disputing incorrect data on your credit report or paying off existing debts to signal to lenders you can afford your mortgage.

Pre-approval 80

Pre-approval Debt-to-income ratio Loans Banks 80

Realtor.com

FEBRUARY 2, 2022

To help, we reached out to real estate professionals for tips on how retirees can find their golden years dream home, land a great mortgage, and still have plenty left in the bank for whatever surprises life delivers. You need to make sure the person you’re working with is aware of local transfer taxes and closing costs.”

Debt-to-income ratio 100

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

RIS Media

OCTOBER 2, 2020

Well-known national lenders approve loans for customers across the United States, but a smaller, local bank or credit union may offer you several advantages that a larger institution can’t. They are often less strict than banks when it comes to loan approval requirements and down payments. Qualification Requirements and Loan Terms.

Banks 64

Banks Debt-to-income ratio Mortgages Loans 64

HomeLight

JUNE 22, 2023

Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. To figure out how much house you can afford , you’re going to have to take a close look at a few different variables. Monthly income The very first thing you need to consider is your income.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Realty Biz

DECEMBER 8, 2022

If you don't already know your credit score, your bank might offer a service to give you this number for free. Your debt-to-income ratio is an important consideration when lenders look at your finances. DTI is all of your debts divided by your gross income each month. Final Thoughts on Mortgage Preparation.

Loans 134

Loans Debt-to-income ratio Due diligence Title search 134

HomeLight

OCTOBER 25, 2023

Lenders take on a higher risk by banking on your ability to sell your old home in a timely manner. In this pinch, they turn to a bridge loan to utilize the equity from their existing home, covering the down payment and closing costs for the new purchase. The reason?

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

Marco Santarelli

MARCH 6, 2025

LTV (Loan-to-Value Ratio): This compares the amount of the loan to the appraised value of the home. Debt-to-Income Ratio (DTI): The ratio of your monthly debt payments to your gross monthly income. The Bond Market: Mortgage rates are closely tied to the yields on U.S. A lower DTI is better.

Mortgages 63

Mortgages Debt-to-income ratio Loans Principal 63

Realtor.com

NOVEMBER 11, 2022

“Talk to your bank or a reputable mortgage company to see what you qualify to purchase,” explains Rosanne Nitti , a Realtor® with RMN Investments & Realty Services, in Laguna Beach, CA.

Pre-approval 131

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

Point2Homes

DECEMBER 7, 2020

This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. Lenders will normally look at your debt-to-income ratio to determine whether you qualify for a loan. Making the Offer. The Home Inspection.

Debt-to-income ratio 118

Debt-to-income ratio Pre-approval Inspection Inspection contingency 118

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. You should avoid opening any new credit accounts until after you have closed on your home. Stay Comfortably Within Your Debt-to-Income Ratio. Tread carefully until closing.

Debt-to-income ratio 87

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 87

Realty Biz

MARCH 9, 2021

This can be in the form of bank saving statements, investment portfolio account statements, or any other type of investment that represents the source of the down payment for the home loan. For the Family Opportunity Loan, the guidelines state that the debt to income ratio can be as high as 50%. The simple answer is RISK.

Pre-approval 144

Pre-approval Earnest money deposit Debt-to-income ratio Loans 144

HomeLight

OCTOBER 27, 2020

They are specialty loans,” explains Sanchez, “where, if you are a self-employed individual and we as a lender can see income via bank statements [instead of with tax returns], you may be able to qualify.”. The bigger your down payment — and the more money you have in the bank overall — the better chance you’ll have at getting a loan.

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Pre-qualification Loans 105