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FHA borrowers are getting hammered by rising rates

Housing Wire

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. Interest rates typically impact FHA borrowers more directly because these borrowers likely have a maximum debt-to-income ratio,” said Naumovych.

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Agents fight misconceptions to win deals for military veteran clients

Housing Wire

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. First, he has his clients lender call the listing agent. That never happens when a VA loan is involved. We do a lot of seminars,” Armstrong explained. “I

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Vishal Garg unveils Better’s new strategy as a publicly traded company 

Housing Wire

According to Garg, the company has developed a one-day mortgage product that provides a commitment letter within 24 hours. I’ve gone through extensive coaching and professional development,” he said. I’ve gone through extensive coaching and professional development. ” And what is Better.com best at?

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How to Choose a Lender For Your Real Estate Team

McKissock

Maybe they made a new purchase and their debt to income ratio is too high. Or maybe the underwriter feels that their income and credit score isn’t high enough. After the lender looks at your client’s credit and income history, they should offer the best available loan for them. This can happen for several reasons.

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7 Things Sellers Need to Know About FHA Loans When Fielding Offers

HomeLight

Department of Housing and Urban Development (HUD) created the Federal Housing Administration (FHA) loan program in 1934 to help more Americans afford houses with government insured home loans that are easier to qualify for than most conventional loans. Defective paint surfaces in homes constructed pre-1978. down payment.

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Am I A First-Time Homebuyer? Who’s Qualified … And Who Isn’t

HomeLight

USDA Rural Development loans also allow for 100% financing (or 0% down). Don’t let the name fool you: areas designated for Rural Development loans can be closer to cities than you might expect. You may have a preapproval, but a preapproval does not guarantee formal loan approval. down and a minimum credit score of 580.

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Mortgages with Low Credit Scores - Your Guide to Affordable Home Financing

Realty Biz

They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval. Tougher loan approval: Lenders may be hesitant to approve a mortgage application from someone with a low credit score.

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