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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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

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. . Wagner will be responsible for helping Lower’s partners develop their business strategy in the home lending space, Synder said. population.

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Housing Wire

APRIL 8, 2021

Get pre-approved to show you mean business: Consider obtaining a pre-approval for a mortgage from a lender by the time you reach the offer stage, as this document can play a key role in the negotiation process. Second, it allows you to tailor your offer to each individual house you put an offer on.

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Housing Wire

MAY 26, 2022

To verify the borrower’s employment, Freddie Mac’s asset and income modeler will draw data from bank accounts for direct deposit, with the borrower’s approval, or from payroll data provided by third-party service providers. Deeper asset history unlocks new lending opportunities. The option will be available starting June 1.

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Housing Wire

MARCH 30, 2021

At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score. Or, give up looking altogether.

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Housing Wire

JULY 21, 2022

Bankruptcy Court in Delaware — show the lender owes more than $400 million to four warehouse lenders, which include Customers Bank, Flagstar Bank, Texas Capital Bank and J.V.B. Obligations to Customers Bank are further secured by a cash reserve account and related collateral,” Samples court pleadings add.

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Housing Wire

JANUARY 26, 2022

Building the next generation of tech: Three ways to digitize home lending. The home lending industry has a massive opportunity to digitalize to create efficiencies and to deliver a simpler end-to-end user experience that would benefit both borrowers and servicers. Refinancing is also not an option.

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Mortgages VA loan Pre-approval Lending 366

Housing Wire

JANUARY 18, 2022

” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents. The crypto mortgage product will be available to most applicants in early 2022, Milo added.

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Housing Wire

SEPTEMBER 29, 2022

MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. Facilitating forward-trading agreements, which allow platform users to sell loan pools at a future date with pre-negotiated terms and pricing.’.

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Marketing Pre-approval Bankruptcy Loans 395

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. neighborhood, housing market, Fall, homes, new house sales, forbearance.

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Housing Wire

JANUARY 31, 2023

Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures. For Miller, who specializes in bank statement loans and debt service coverage ratio (DSCR) loans for investment properties, Sun West’s artificial intelligence platform, Morgan, won him over. In-house is key.

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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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Inman

FEBRUARY 15, 2024

Borrowers can use the company's Tinman platform to see their rates and get pre-approved in minutes, and may qualify to buy with no down payment.

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VA loan Pre-approval Loans Mortgages 190

Housing Wire

MAY 16, 2022

HousingWire recently caught up with Steven Schwalb, managing partner of Angel Oak Lending, about the changes investor appetite has gone though for non-QM. Do they need a pre-closing investor review? We know what they’re looking for when we issue a pre-qual, and we stand behind that. How long have they been doing non-QM?

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Lighter Side of Real Estate

JANUARY 24, 2024

Unless you come into a windfall of money, most people need to get a mortgage in order to buy a home, so getting a mortgage pre-approval to find out how much a lender will allow you to spend is the first step. How much down payment you have will affect how much they feel comfortable lending you.

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

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.”.

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Marco Santarelli

NOVEMBER 5, 2024

Family and Friend Loans: The “Bank of Mom and Dad” A surprising yet impactful finding from the data is that 23% of recent buyers secured low rates by borrowing from family or friends, highlighting the phenomenon known as the “Bank of Mom and Dad.” This step is crucial for various reasons.

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HomeLight

DECEMBER 27, 2023

Your monthly mortgage payment has two main components : the principal (the amount you’ve borrowed) plus interest (the lender’s charge for lending you money), according to the Consumer Financial Protection Bureau (CFPB). That starts with determining what it will take to pay off your mortgage.

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Housing Wire

JUNE 30, 2021

Our pre-approval option is a very important tool for our brokers in this current hot purchase market. As the fastest-growing lender in the wholesale channel, PennyMac is uniquely positioned to serve as a business partner across the mortgage banking professional continuum. CHRIS LEGG, EVP, TPO STRATEGY AND INNOVATION.

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Redfin

JULY 16, 2024

This guide will walk you through each phase of the mortgage loan process, from pre-approval to post-closing, with examples to illustrate key points. Gather financial documents: Recent pay stubs Last two years of tax returns Bank statements Proof of assets (e.g., Compare it with your pre-approval letter for consistency.

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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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Marco Santarelli

SEPTEMBER 22, 2023

Loosening lending standards : Lenders who are willing to extend credit to borrowers with weak credit histories or offer loans with minimal down payments are engaging in risky lending practices that could lead to a housing bubble. This can lead to foreclosures, which can have a devastating impact on homeowners and their families.

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Realty Biz

AUGUST 22, 2022

Get Pre-Approved First. House hunting before getting a mortgage pre-approval is a mistake some first-time homebuyers make. Mortgage approval isn’t guaranteed. Moreover, if you are approved, you don’t know how much the bank will lend you. Avoid making this mistake.

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Marco Santarelli

SEPTEMBER 11, 2024

Loose lending practices: Banks and lenders start giving out mortgages like candy, even to people who might struggle to pay them back. The lending practices are more responsible, and there's genuine demand for housing. Get pre-approved for a mortgage. Think of it like flipping a house, but on a much larger scale.

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Marco Santarelli

SEPTEMBER 11, 2024

The Fed Might Lend a Hand (or Rate Cut): The Federal Reserve is hinting at lowering its rates soon, which usually nudges mortgage rates in the same direction. Talk to a Lender: Get pre-approved for a mortgage so you're ready to make an offer when you find the one. Can't Wait Until Fall? It a Good Time?

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Realty Biz

JUNE 10, 2024

Open a dedicated savings account for your down payment and treat it like a sacred piggy bank. It's not the end of the world, but you might face higher interest rates or stricter lending requirements. Step 4: Mortgage Shopping - Like Speed Dating, but with Banks Next up is securing a mortgage. Automate transfers each payday.

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Realty Biz

AUGUST 12, 2023

In a mortgage agreement, the buyer borrows money from the lender (usually a bank) and agrees to pay it back with interest over a specified period. Pre-Approval : A written commitment from a lender stating the amount they are willing to lend to a borrower. Principal : The amount of money you borrowed to buy the home.

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Realtor.com

NOVEMBER 2, 2020

Since COVID-19 started tearing through the country in March, we’ve heard reports of freelancers having an even harder time getting approved for mortgages. Getting a mortgage as a freelancer (pre-coronavirus). In the past, we could simply use the prior year’s tax returns,” says Todd Wells of Sinberg Capital Lending.

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Housing Wire

APRIL 18, 2023

That referral process is an age old, where the real estate community will give up a third of their commission for being delivered a qualified, pre-approved borrower that came out of the relocation world. Kim: One of NAF’s priorities is on lending to the Hispanic community. So it’s really just a slow play to close.

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McKissock

AUGUST 7, 2022

It didn’t help that the Federal Reserve was not strictly regulating the bank’s loan screening and approval process. Therefore, the banks approved mortgages to customers without regard for their ability to repay the loan. This prevents further foreclosure and helps to maintain some stability.

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Realty Biz

JUNE 7, 2023

Learn more about Fresno credit unions In a sea of lending institutions, Fresno credit unions shine as hidden gems. These unions can offer various advantages over traditional banks. Seek pre-approval Obtaining a pre-approval letter before house hunting gives you an advantage in negotiations and will help you stay within your budget.

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Debt-to-income ratio Loans Pre-approval Lending 62

Redfin

MARCH 3, 2023

In this article, we’ll be discussing the first steps in buying a house, which are determining your budget, setting your financial goals, and getting pre-approved for a mortgage. Get pre-approved for a mortgage Getting pre-approved for a mortgage is an essential step in the home buying process.

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Keller Williams

AUGUST 17, 2022

Over the next several months, the housing market will be more in line with pre-pandemic market conditions,” shares KW chief economist Ruben Gonzalez. Offer Ready is Keller Mortgage’s fully underwritten pre-approval program created to help buyers bid with confidence. All loans subject to credit approval.

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Toronto Realty Blog

FEBRUARY 27, 2023

Thank you for taking us back to that place that we all thought we had left for good: pre-construction. about the pre-construction condo industry just as soon as this blog was launched back in 2007. Pre-construction “experts.” Blog reader Densha asked about pre-construction condo delays and it’s a good topic.

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Realty Biz

APRIL 20, 2023

While traditional banks have long been the go-to option for many homebuyers, mortgage brokers are becoming an increasingly popular choice. In this article, we will explore the benefits of using a mortgage broker over banks, particularly for younger homebuyers.

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HomeLight

JANUARY 26, 2023

People usually finance buying a house through a bank or other traditional lending institution. With seller financing, you, the seller, lend the buyer credit for part or all of the purchase price, minus a down payment, and the buyer makes monthly payments to you. Your lender has to approve, of course! Let’s dig in.

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