Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan 418

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

Housing Wire

MARCH 1, 2021

Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks.

Mortgages 459

Mortgages VA loan Loans Loan Officer 459

Housing Wire

MAY 28, 2024

Veterans and their families who were deceived into refinancing their VA loans were overcharged and did not receive the loan products promised, resulting in significant consumer harm,” Mark Pearce, director of FDIC’s division of depositor and consumer protection, said in a statement.

Banks 453

Banks Mortgages VA loan Loan Officer 453

Housing Wire

MAY 8, 2023

I have been in the mortgage industry for nine years, with my loan officer in the industry for 19 years and my Realtor for over 10 years. Assuming a VA loan I have nothing but the utmost respect for everyone serving in the military. Veterans Affairs (VA) mortgage loans can be an excellent product for veterans.

VA loan 418

VA loan Mortgages Marketing Loans 418

Housing Wire

FEBRUARY 7, 2023

Servicers can only charge up to $900 to process, underwrite and close a transaction that includes a loan assumption. By the Mortgage Bankers Association ’s estimate, it takes on average about $2,500 to process, underwrite and close a government loan. Tozer suggested “a fee of 1.3%

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

NOVEMBER 7, 2023

And when lenders — not headlines — explain cash-to-close and monthly all-in costs relative to incomes, the lights go on for borrowers. mortgage delinquencies — which include conventional, FHA and VA loans — are still near record lows of 3.37% per the MBA. I think so because total U.S.

Debt-to-income ratio 434

Debt-to-income ratio Mortgages VA loan Loans 434

Housing Wire

APRIL 4, 2022

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Vetted VA also moderates a Facebook group: Vetted VA for Professionals. “If

VA loan 107

VA loan Loans Lending Loan Officer 107

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ? 2% closing costs.

Closing costs 105

Closing costs Closing Mortgages Title 105

HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

Closing 111

Closing Inspection Title Due diligence 111

HomeLight

OCTOBER 1, 2020

One of those terms is “ clear to close.” What does clear to close mean? Clear to close is more straightforward than you’d think. Once you’ve signed all your documents and “closed” your mortgage, the lender will pay the seller and all parties and you get the keys to your house.”. What happens before the clear to close?

Closing 97

Closing Purchase and sale agreement Inspection Loans 97

Real Trends

NOVEMBER 11, 2022

Real estate professionals should make their customers aware of extra fees associated with USDA loans including an upfront fee of 1% of the loan amount and an annual fee. VA loans provide flexible, low-interest mortgages for active military members and veterans. 2-1 buydowns. This option is increasing in popularity.

Finance 113

Finance VA loan FHA loan Agents 113

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

Closing 118

Closing Earnest money deposit Sales Inspection 118

HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

Earnest money deposit 110

Earnest money deposit Closing Sales Title 110

HomeLight

AUGUST 31, 2021

Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. Important things to know: A low or zero down payment will not significantly impact your interest rate with a USDA loan. That’s when you talk to a loan officer,” Helali insists.

FHA loan 105

FHA loan VA loan Loans Loan Officer 105

HomeLight

NOVEMBER 29, 2021

A down payment is money that a buyer will pay at closing, usually expressed as a percentage of the home’s total purchase price. With so many DPA programs, you’ll want to consult with someone who will know them best — your loan officer. What types of mortgage loans are there? Conventional loans.

Earnest money deposit 110

Earnest money deposit FHA loan Purchase and sale agreement Inspection 110

The Close

NOVEMBER 25, 2022

This is a niche with recession-proof buyers, zero percent financing, and hot leads that need to close quickly. Finally, I’ll walk you through the exact steps I use to market to and close transactions with military buyers and sellers here in Hawaii. Easy financing through VA loans. But is it the right niche for you?

VA loan 98

VA loan Loans Loan Officer Finance 98

C4D Crew

JANUARY 13, 2022

This article will break down the home buying process from loan to close. . Before the Loan. Most loans require at least a 3.5% If you’re a veteran who qualifies for a VA loan, you might not have to put any money down at all. . Getting a Loan. Closing on the Home. Account statements.

Loans 52

Loans Closing Pre-approval VA loan 52

HomeLight

OCTOBER 2, 2020

While a good lender, mortgage broker, or real estate agent will explain mortgage fees to you before the closing , many borrowers still find themselves surprised at the total cost. At the closing, my eyes went wide, and I had to step out to catch my breath because I hadn’t been aware of the fees.”. I was aware of the down payment.

Mortgages 98

Mortgages Title Loans VA loan 98

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

The Close

OCTOBER 1, 2024

Mortgage lead generation is unique since many homebuyers and sellers aren’t actively searching for a mortgage loan officer. Connect, their mortgage lead generation platform, provides advertising on Zillow and Trulia and helps loan officers connect with ready-to-purchase leads quickly and easily. Visit Zillow 4.

Mortgages 101

Mortgages Loan Officer Land Loans 101

HomeLight

OCTOBER 15, 2020

These loans come with required mortgage insurance, and they typically have higher rates and fees. VA loans : These loans are for qualifying military service members and their families, and they’re backed by the Veterans Administration. VA loans require a minimum credit score of 620 and a maximum DTI of 41%.

Loans 98

Loans Debt-to-income ratio FHA loan VA loan 98

HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. For a USDA loan, you should have a minimum FICO score of 640.

Loans 85

Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 85

HomeLight

NOVEMBER 10, 2021

Whether you’re hoping to find a condo in Miami to be close to the nightlife, or are aiming for a single-family home close to your favorite golf course where you can retire in comfort, buying a house in Florida is a dream for many — it’s intimidating, but also exciting. An FHA loan , for example, requires a minimum of 3.5%

Closing costs 116

Closing costs Loans Earnest money deposit Purchase and sale agreement 116

HomeLight

OCTOBER 26, 2021

That process is called mortgage underwriting, and it involves several requirements on your part — and action steps on the underwriter’s part — that can have an impact on how long it will take to close on your home purchase. loans through its technology. How long will it take? Header Image Source: (Steve Johnson / Unsplash).

Pre-approval 104

Pre-approval Mortgages Loans Loan Officer 104

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Sometimes you’ll even find grants to help you with closing costs and down payments. Service members, veterans, and surviving spouses qualify for these loans with 0% down. Sound great?

Loans 105

Loans VA loan FHA loan Purchase and sale agreement 105

HomeLight

JUNE 19, 2023

Thankfully, there are tons of programs out there to help regular homebuyers achieve home ownership, even if they don’t have anywhere close to 20% saved up. Many DPA programs can be used to cover closing costs , too, as that’s another large chunk of change you’ll owe at closing.

FHA loan 105

FHA loan Closing costs Loans VA loan 105

Realty Biz

JUNE 15, 2022

Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. A 20% down payment will help you avoid paying private mortgage insurance (PMI), but you can secure a conventional mortgage with as little as 3% down. Department of Agriculture (USDA) or U.S.

Debt-to-income ratio 98

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 98

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. To qualify for a conventional loan, borrowers need to have a minimum credit score in the 620 to 640 range.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JUNE 28, 2021

Collinge also suggests taking a hard look at the house and making a list of what you believe needs work to bid accordingly — and don’t be afraid to request that HUD cover some closing costs to make up the difference. To discuss financing options further, HUD invites all to chat with their Office of Housing Counseling Agency.

Pre-approval 105

Pre-approval Pre-qualification FHA loan Inspection 105

Marco Santarelli

OCTOBER 6, 2023

For investment property loans FHA or VA does not offer a non-owner occupied programs. Occasionally loan servicers that are reselling a previously funded VA loan that was inherited through foreclosure will offer a qualifying assumable option to investors to purchase that property.

Loans 98

Loans Hard money loan Lending Investor 98

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. That said, there’s a world of difference between a top agent who consistently closes deals quickly and saves their buyers money, and one who’s in the real estate game part-time to make a couple bucks here and there.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

HomeLight

AUGUST 31, 2021

It’s a DIY world, and she secured her loan ( with an equally awesome rate ) by going direct through her bank. The key difference here is that lender-paid compensation often doesn’t result in any out-of-pocket costs at closing, where borrower-paid compensation does. A note about lenders, brokers, and no-closing-cost loans.

Mortgages 97

Mortgages Closing costs Loans Banks 97

Realty Biz

JANUARY 19, 2024

Take a close look at your income, expenses, and existing debts. Research different types of mortgages available, such as conventional, FHA, or VA loans. Understanding the aspects of obtaining a mortgage, learning about interest rates, and managing down payments and closing costs are essential.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

DECEMBER 30, 2021

You’re so close to closing. According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers have conventional loans, 16% have FHA loans and 14% received VA loans. The appraisal is usually the last piece of the loan package to be completed before closing.

Loans 119

Loans Agents Inspection Closing 119

Realtor.com

NOVEMBER 28, 2022

While there are a variety of mortgages aimed at helping homebuyers afford a home—such as FHA loans and VA loans —one type that’s often overlooked are USDA loans, which offer excellent terms to those who qualify, including a 0% down payment and low interest rates. Types of USDA loans.

Loans 95

Loans Mortgages FHA loan Debt-to-income ratio 95