Housing Wire

APRIL 7, 2021

A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.

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Housing Wire

SEPTEMBER 16, 2021

Over half of non-homeowning millennials (60%) say student loan debt is delaying them from purchasing a home, making them the population most affected by student debt , according to the National Association of Realtors’ 2021 impact of student loan debt report.

Loans 403

Loans Debt-to-income ratio Mortgages As-is 403

Housing Wire

AUGUST 22, 2020

The FHFA has been widely criticized both for the reasoning given for the fee and the short three-week notice to lenders and homeowners already in the middle of a refinance process. However, when this policy was announced, no further explanation was provided to justify the additional cost to homeowners.

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Housing Wire

MARCH 20, 2024

While lower home prices might appear advantageous to buyers who navigate the market without professional guidance, they pose a considerable risk to current homeowners. A drop in demand not only slows the market but can erode home equity, leaving homeowners with diminished assets. For these buyers, every dollar matters.

Debt-to-income ratio 488

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Housing Wire

JANUARY 13, 2021

and how much a potential homeowner would need to earn to live comfortably. They look at your credit score, debt-to-income ratio, which is the percentage of your monthly gross income that goes toward paying debts and your projected down payment. New York City, New York. Affording a home in the U.S.

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HomeLight

SEPTEMBER 25, 2024

With real estate prices rising, many homeowners are taking advantage of the value they’ve built in their current homes to acquire additional properties. In some cases, homeowners look to buy a new home before selling their current one, hoping to avoid the hassle of temporary housing and moving twice.

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Housing Wire

MAY 4, 2022

Household balance sheets have improved: Since the Great Recession, mortgage rates have generally declined helping homeowners refinance into lower mortgage payments, while steadily rising home prices have significantly boosted homeowner equity.

Debt-to-income ratio 388

Debt-to-income ratio Equity Pre-approval Finance 388

Realty Biz

APRIL 5, 2022

Homebuyers and/or homeowners can qualify for an FHA and/or VA loan during Chapter 13 Bankruptcy one year into the Chapter 13 repayment plan. Manual underwriting is similar to automated underwriting system approval except there is lower debt to income ratio cap. Debt to Income Ratio on Manual Underwriting.

Bankruptcy 119

Bankruptcy Debt-to-income ratio VA loan FHA loan 119

Broke Agent Media

FEBRUARY 13, 2023

BAM Key Details: Fannie Mae’s National Housing Survey shows homeowners are increasingly worried about the ability to save money and afford necessities, including mortgage payments. With inflation outpacing wage growth, many have had to resort to using their previously built-up savings while also taking on more consumer debt to cover expenses.

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Housing Wire

AUGUST 23, 2023

” Better is partnering with other businesses to offer services such as homeowner’s insurance and to provide access to a network of real estate agents, rather than offering these products and services directly to borrowers. is expected to begin trading on the Nasdaq Stock Exchange on Thursday under the ticker symbol “BETR.”

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Housing Wire

JULY 25, 2023

HousingWire recently spoke with Matic CEO and co-founder Ben Madick about the changing home insurance market, how it impacts mortgage lenders and homeowners, and why lenders should pay attention. Additionally, for homeowners that stay with the same carrier and policy, renewal rates have experienced an even steeper incline.

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Housing Wire

MARCH 4, 2021

In proposing to extend the date by which lenders must comply with the CFPB’s new General QM definition, we are working to provide needed options for both homeowners and lenders during a time of uncertainty and hardship.”. Amending the QM Rule has been a long process.

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RIS Media

JUNE 5, 2021

Homeowners who haven’t capitalized on historically low mortgage rates are getting another chance to lower their monthly payments under Fannie Mae’s new RefiNow option. The program offers low-income homeowners with Fannie Mae-backed mortgages an opportunity to refinance and save money on their loan payments.

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HomeLight

JANUARY 29, 2024

When a homeowner needs fast access to cash for a life change or opportunity, their first thought may be to tap into their equity. homeowners. It’s a creative option to battle high interest rates, monthly income limitations, or hurdles like low credit scores and stringent lending criteria.

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Keeping Current Matters

AUGUST 20, 2020

As reported by Odeta Kushi, Deputy Chief Economist for First American : “Despite the federal foreclosure moratorium, there were fears that up to 30% of homeowners would require forbearance, ultimately leading to a foreclosure tsunami. Today, the options available to homeowners will prevent a large spike in foreclosures.

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RIS Media

JUNE 3, 2021

Those who could not get refinanced were declined for many of the same reasons, from a high debt-to-income ratio to poor or no credit history. High Debt-to-Income Ratio . Your debt-to-income ratio is the percentage of your monthly gross income used to pay off your debts.

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Debt-to-income ratio Principal Lending Equity 105

HomeLight

JULY 23, 2024

In today’s high-interest-rate environment, homeowners like you are seeking out more affordable financing options. Stable income: Demonstrating a reliable source of income reassures lenders of your ability to repay the loan. Good credit score: A strong credit history can improve your chances of approval.

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Housing Wire

MAY 3, 2023

. “The home purchase market is more sensitive to a reduction in mortgage rates at current rate levels, with the refinance option still out of the money for a vast majority of homeowners (…). Additionally, higher rates create higher debt-to-income ratio calculation, resulting in qualifying for lower mortgage amounts,” Mendenhall said.

Mortgages 430

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 430

Housing Wire

JUNE 29, 2022

The report found that while the majority (75%) feel confident about eventually securing a mortgage, a large percentage of millennial and Gen Z future homebuyers see an insufficient down payment or closing funds (46%), their high debt-to-income ratio (45%) and bad or no credit (38%) as barriers to approval.

Debt-to-income ratio 441

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Housing Wire

MARCH 30, 2021

When the Bureau announced its proposal to delay the rule, it cited concern for homeowners affected by the pandemic. “At In proposing to extend the date by which lenders must comply with the CFPB’s new General QM definition, we are working to provide needed options for both homeowners and lenders during a time of uncertainty and hardship.”.

Debt-to-income ratio 460

Debt-to-income ratio Loans Mortgages Lending 460

HomeLight

NOVEMBER 17, 2023

A critical aspect your lender will assess is your debt-to-income ratio (DTI). They usually require that your current home is already on the market and offer the bridge loan for a period ranging from six months to a year.

Equity 111

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

Housing Wire

MARCH 10, 2023

Though “it’s not cheap money,” Toohig said it’s on “smaller balances of $50,000 to $100,000, not a $400,000 mortgage,” so that makes it more attractive to homeowners, especially those not interested in giving up their low 3% mortgages by refinancing to pull out equity at new rate that is twice as high today.

Equity 370

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Housing Wire

AUGUST 5, 2022

Their letter cites findings from the Urban Institute, that for nonbank originations, median credit scores are consistently lower, and median debt-to-income ratios are consistently higher than those of banks. of mortgages and 5.9% of bank loans. “In

Banks 430

Banks Debt-to-income ratio Lending Loans 430

Realtor.com

APRIL 20, 2021

For many Hispanic buyers, COVID-19 cemented their desire and accelerated their plans to become homeowners. They’re expected to make up 70% of new homeowners over the next 20 years. However, there are challenges that are holding back more Hispanic buyers from becoming homeowners. of Latino wealth. . down payments.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Equity As-is 98

HomeLight

DECEMBER 5, 2023

Are you a Connecticut homeowner caught in the challenging dance of selling your old home and buying your new one? It’s a common situation that many homeowners face, and that’s where a bridge loan comes into play. Your lender might need to crunch the numbers and calculate your debt-to-income ratio (DTI).

Equity 111

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

HomeLight

JUNE 30, 2024

More flexibility: With fewer regulations, hard money lenders can set flexible criteria, including credit scores and debt-to-income ratios, and can help homeowners avoid foreclosure. Might require larger down payments: Borrowers might need to provide larger down payments , sometimes up to 20%–30% of the property’s value.

Finance 112

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

HomeLight

SEPTEMBER 19, 2024

Lenders have different criteria, and some are willing to work with homeowners like you who might have a few credit dings. Reasonable debt-to-income ratio: Lenders prefer a debt-to-income (DTI) ratio of 43% or lower. This ratio shows how much of your monthly income goes toward debt payments.

Equity 64

Equity Loans Debt-to-income ratio As-is 64

Housing Wire

JULY 25, 2023

According to Sandy Williams, an eXp Realty agent in Sarasota, homeowners’ insurance costs have doubled for many in her metro area ( flood insurance costs have also risen dramatically). “I I do a lot with new construction and homeowners’ insurance is cheaper on new builds because they are brand new,” Williams said.

Marketing 370

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HomeLight

FEBRUARY 28, 2024

Here are some of the most common reasons homeowners decide to invest in a second property: Vacation getaway: A personal retreat in your favorite vacation spot, where you can relax and unwind any time you wish. Rental income: A source of passive income through short-term rentals or long-term leases.

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Debt-to-income ratio Loans Finance Agents 114

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. We want to make the journey to owning a home more accessible, transparent and empowering. What’s next for you?

Debt-to-income ratio 120

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Realty Biz

AUGUST 20, 2023

Going from renter to homeowner is exciting, but you must follow these essential steps. It involves assessing your credit score, managing your debt-to-income ratio, gathering the necessary financial information and documents, and reviewing and improving your credit history. Most will approve shortly after you apply.

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Norada Real Estate

JUNE 25, 2024

government , through Freddie Mac , has proposed a new home equity product that could significantly impact the housing market and homeowners. This initiative aims to unlock $850 billion in homeowners' equity, providing a lower-cost alternative to traditional cash-out refinancing, especially in a higher interest rate environment.

Equity 59

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HomeLight

NOVEMBER 3, 2023

Think of it as a temporary financial bridge that assists homeowners during the transition between properties. Still, for many Utah homeowners, this tool proves invaluable in their property journey. A bridge loan can be your lifeline when you’re eager to secure your new home but are still awaiting the sale of your current one.

Equity 116

Equity Loans Debt-to-income ratio Home sale contingency 116

Realtor.com

FEBRUARY 3, 2022

While most homeowners will make a sizable down payment on a house (typically 3.5% What is debt-to-income ratio? While up to 28% of your income can go toward housing, this is likely not the full picture, since you might have other debts such as credit cards or college loans.

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Marketing Finance 105

HomeLight

OCTOBER 25, 2023

A frequent scenario arises in the Arizona real estate market: a homeowner finds their next dream property but hasn’t yet sold their current one. Your lender’s evaluation may involve crunching some numbers around your debt-to-income ratio (DTI). How does a bridge loan work in Arizona?

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

GeekEstate

JUNE 21, 2022

Homeowners can use the funds for anything — paying off high-interest credit card debt, paying off a large, unexpected expense, starting a business, or even buying a second home. As things change globally, our product is here to help homeowners across North America save. What are you most excited about right now?

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Debt-to-income ratio Finance Equity Mortgages 120

Marco Santarelli

AUGUST 13, 2024

As the summer progresses, mortgage rates today have seen an uptick, sparking conversations among potential buyers and current homeowners alike. For Existing Homeowners: Refinancing Decisions: Current homeowners weighing refinancing must consider if their existing rate is significantly lower than today’s rates.

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Loans Banks 52