Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. Eligible borrowers must have a FICO score of 680 or higher and a debt-to-income ratio of 40% or less. homeowners have a collective $11.5

Equity 459

Equity Loans Debt-to-income ratio Renovation 459

Housing Wire

AUGUST 22, 2020

According to reporting by the Wall Street Journal on Saturday, the Federal Housing Finance Agency has been communicating with mortgage industry groups about delaying the implementation of a fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting Sept.

Debt-to-income ratio 545

Debt-to-income ratio Finance Mortgages Industrial 545

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. The special purpose credit program is an extension of the government sponsored enterprise’s equitable housing finance plan.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

SEPTEMBER 27, 2023

Higher costs and rates meant customers taking out mortgages in 2022 devoted a higher share of their income towards paying home loans. The average debt-to-income ratio for Hispanic White and Black borrowers reached over 40% in 2022, about 39% among Asian applicants and 37% for non-Hispanic whites. in 2022, up from 8.3%

Debt-to-income ratio 459

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 459

Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Income and credit information are inputted into the AUS.

Closing 370

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

Housing Wire

AUGUST 8, 2024

“Incomes, wealth, life events, mortgage rates all play a role in determining housing demand, while on the supply side we have land costs, government regulations in terms of zoning rules, geographic constraints to building and builder financing costs,” Divounguy added. “So, As these business practice changes begin Aug.

Debt-to-income ratio 488

Debt-to-income ratio Marketing Mortgages Days on market 488

Housing Wire

MARCH 3, 2024

“The market in which these folks purchased their first home was one of record house prices, ballooning down payments , rising rates and elevated debt-to-income ratios (DTIs). Mortgage rates have averaged close to the 7% mark as of Feb. is more than 4 percentage points higher than for repeat buyers in recent months.

Loans 514

Loans Debt-to-income ratio Lending Banks 514

Housing Wire

JUNE 4, 2021

Your score will determine your financing options for buying a house. To determine what kind of house you can afford, you need to analyze your debt-to-income ratio (DTI). Your DTI shows how much money you put towards debt each month, and it’s relatively simple to calculate. . Step 1: Know Your Credit Score.

Debt-to-income ratio 476

Debt-to-income ratio FHA loan Loans Land 476

Housing Wire

AUGUST 22, 2024

Let’s address these concerns: First, Steve’s argument presupposes buyers, especially those at the lower end of the income spectrum, can easily finance agent commissions through their mortgage. The reality is that financing commissions are unfeasible. This assumption is fundamentally flawed.

Debt-to-income ratio 353

Debt-to-income ratio Finance Mortgages Banks 353

Housing Wire

JANUARY 14, 2022

The Federal Housing Finance Agency recently announced new upfront fees for second-home loans which, much like the abrupt and now-suspended caps on such loans last year, are expected to give the private-label securities market a boost. .”

Debt-to-income ratio 434

Debt-to-income ratio Lending Loans Loan Officer 434

Housing Wire

JUNE 29, 2022

Many millennial and Gen Z future homebuyers are concerned about the effects of personal finance issues like having insufficient savings, increasing debt and low credit when applying for a loan. Today, 78% would apply for a loan with less than the traditional 20% down payment, while more than half (55%) do plan to put down at least 10%.

Debt-to-income ratio 459

Debt-to-income ratio Loan Officer Loans Mortgages 459

Housing Wire

NOVEMBER 8, 2021

There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle. A lot of the misconceptions about working with VA loans center on the VA appraisal process – which differs from conventional mortgage appraisals – as well as the time it will take for a transaction to close.

VA loan 418

VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

MAY 25, 2022

Partnering with a team that understands how to approach home loans for borrowers with complex finances can make the difference between another year of profit growth and the unfortunate possibility of loss in business, making it one of the most crucial decisions for any lender. Why partner with Newrez?

Debt-to-income ratio 418

Debt-to-income ratio Lending Pre-qualification Loans 418

Housing Wire

AUGUST 23, 2023

Following a merger with special purpose acquisition company (SPAC) Aurora Acquisition Corp , Better Home & Financing Co. The biggest challenge initially was reengineering the entire process of tasking out to the consumer, getting their income, getting their assets, and figuring out which of their debts they might be paying off.

Debt-to-income ratio 370

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

Housing Wire

AUGUST 26, 2024

trillion once the Flagstar deal closes. Additionally, Mr. Cooper ranks as the fourth-largest holder of MSRs, considering both whole loan portfolios and servicing rights, with $676 billion at the end of June—an increase of 70% over two years, according to Inside Mortgage Finance. The company is expected to reach a UPB of $1.5

Mortgages 459

Mortgages Banks Debt-to-income ratio Loans 459

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. Borrowers also incur costs like origination fees, closing costs, and points. If a borrower fails to repay, the lender can seize the property to recoup their investment.

Hard money loan 112

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

Lighter Side of Real Estate

SEPTEMBER 23, 2021

Increasing the balances on your credit cards can impact your debt-to-income ratio, which plays a major role in determining whether you’re approved for a mortgage—and, if so, how much. In order to qualify as a solid candidate for a mortgage, lenders want to see a stable job history and reliable income.

Debt-to-income ratio 125

Debt-to-income ratio Pre-approval Mortgages Finance 125

Realty Biz

OCTOBER 25, 2021

If you don’t have enough money to buy a new property then financing is a great solution. Financing can provide the support you need to buy the house you want. Financing in the form of mortgage refinancing can reduce your expenses and help you pay off your mortgage faster. Mortgage refinancing tends to be an easier process.

Debt-to-income ratio 108

Debt-to-income ratio Mortgages Closing costs Equity 108

RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. Other factors can also put a home back on the market. Low appraisal.

Debt-to-income ratio 144

Debt-to-income ratio Title search Backup offer Home sale contingency 144

Marco Santarelli

DECEMBER 21, 2024

As someone who's gone through the mortgage process a few times and kept a close watch on the market, I can tell you it's rarely a simple yes or no. Can you afford the closing costs? Refinancing comes with closing costs. Make sure you can cover these without putting a strain on your finances.

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Loans Equity 52

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

SEPTEMBER 30, 2023

Let's delve deeper into these topics to guide you towards an affordable home financing solution. In addition to credit scores, lenders also consider factors such as your income, employment history, savings, current debts, and the value of the home you intend to purchase. Can you buy a house with bad credit?

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

Realtor.com

FEBRUARY 11, 2021

They can also tell you how much of a mortgage you qualify for, which is determined in part by your debt-to-income ratio. If not, you should first spend some time shoring up your finances. Qualifying for financing is a critical part of the home-buying journey. Can you afford the closing costs?

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

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. The agent won’t be owed any money until she actually finds a buyer who can get financing and make it all the way through the closing.

Loans 133

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

Realtor.com

NOVEMBER 11, 2022

Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more. Step 1: Why financing is the key to buying a new home. Step 1: Why financing is the key to buying a new home.

Pre-approval 131

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

HomeLight

NOVEMBER 29, 2023

Especially in today’s market, where inventory levels are low, and prices are soaring, aligning the timing and finances of both transactions can be particularly challenging. It leverages the equity in your current home, providing you with the necessary funds for a down payment and covering closing costs on your new property.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Lighter Side of Real Estate

AUGUST 5, 2020

If you haven’t actually qualified for financing, you should hold off on going to look at houses with a real estate agent (or even going to open houses), since there’s no guarantee that a mortgage company can lend you the money. Make a big purchase or take out new debt before the closing. Try to mislead the mortgage company.

Pre-approval 145

Pre-approval Debt-to-income ratio Title search Finance 145

Realty Biz

DECEMBER 8, 2022

Here are all of the steps to consider in order to get financing for a home purchase. Your credit score shows lenders how well you deal with debts. 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.

Loans 134

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

HomeLight

NOVEMBER 7, 2023

As a short-term financing solution, bridge loans empower you to leap ahead to purchase your new Oklahoma home before saying goodbye to your old one, helping you keep all the pieces in place without the interim shuffle. In simple terms, it’s a short-term loan that uses the equity in your existing home to help finance the new purchase.

Equity 115

Equity Loans Debt-to-income ratio Home sale contingency 115

HomeLight

SEPTEMBER 17, 2024

Whether you’re flipping a beach bungalow in the Hamptons or investing in a rental near Huntington, hard money lenders on Long Island offer quick, flexible financing options that traditional lenders might not provide. Their clients often include house flippers and those investing in rental properties , needing fast, flexible financing.

Finance 64

Finance Hard money loan Debt-to-income ratio Home sale contingency 64

HomeLight

DECEMBER 5, 2023

It hands you the cash needed for a down payment and covers those pesky closing costs on your new purchase. It’s like unlocking the treasure chest that holds your down payment and covers those essential closing costs for your fresh start. Your lender might need to crunch the numbers and calculate your debt-to-income ratio (DTI).

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Realty Biz

SEPTEMBER 5, 2023

One crucial aspect of this process is ensuring that your finances secure a mortgage and make the dream of homeownership a reality. We will delve into essential strategies to improve your finances, focusing on utilizing tools like Credit Karma or Credit Sesame to prepare yourself for purchasing a house.

Debt-to-income ratio 91

Debt-to-income ratio Pre-approval Finance Bankruptcy 91

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. Everyone’s finances and circumstances are different. To figure out how much house you can afford , you’re going to have to take a close look at a few different variables. That number will be your debt-to-income ratio.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JANUARY 17, 2024

This decision can occur at various stages – after an offer is made but before it’s accepted, after signing a purchase agreement, or even days before the closing. You lost your job or income: A significant change in your employment status can impact your ability to secure financing, prompting a reassessment of your homebuying plans.

Purchase and sale agreement 111

Purchase and sale agreement Debt-to-income ratio Title search Finance 111

Realtor.com

FEBRUARY 2, 2023

To up your chances of being approved—at a favorable rate—it’s always smart to pay down debts or pay off existing loans to the best of your ability. Whether you choose to lease or finance a car, you’ll increase your total monthly expenses. When you finance a car, each monthly payment brings you closer to owning the car outright.

Debt-to-income ratio 75

Debt-to-income ratio Loans Lending Finance 75

Realty Biz

AUGUST 20, 2023

By understanding the ins and outs of mortgage pre-approval, you will be better equipped to navigate the home-buying process and make informed decisions regarding your budget and financing options. Preparing Your Finances for Mortgage Pre-approval Preparing your finances is an essential step to getting pre-approved for a mortgage.

Pre-approval 94

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

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