Housing Wire

AUGUST 27, 2021

For example, on a 95% LTV purchase with a 640 FICO, there is an additional 275 bp fee added on top of the base g-fees and MI expense. When I started my career as a loan officer, there were no credit scores. This rule remains in effect today. The problem is that the old process resulted in racial bias as well.

Debt-to-income ratio 448

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 448

Realty Biz

JANUARY 19, 2024

From three decades working as a Realtor, there are common denominators for first-time home buyers going through the purchase process with ease. This includes understanding the terminology, legal aspects, and financial considerations of purchasing a property. By following these steps, you can easily navigate the real estate market.

Debt-to-income ratio 100

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

HomeLight

OCTOBER 15, 2020

is for sale. Many wishful homeowners would just keep on driving and try to forget that their dream home is on the market … but you know how to apply for a USDA loan, so you turn your car around and head home to do just that. For a USDA loan, you should have a minimum FICO score of 640. Sign the purchase agreement.

Loans 85

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

Redfin

FEBRUARY 10, 2021

Later in the year, the worst of the pandemic will hopefully be behind us, and as businesses reopen and daily activities become safer, a new batch of homebuyers and sellers will enter the housing market, making for the strongest year of home sales since 2006. ”. There is a shortage of homes for sale. We’re in a seller’s market.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

HomeLight

JUNE 30, 2022

For example, it may be worth strategically paying down some of your debt or disputing any errors on your credit report before purchasing a home. These events may not necessarily prevent you from buying a house, but there may be a time limit required from the time the event happened until you can purchase a home with a mortgage.

Purchase and sale agreement 96

Purchase and sale agreement Inspection Earnest money deposit Closing costs 96

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. Give your loan officer full disclosure from the start – tell us everything.

Closing 63

Closing Title search Purchase and sale agreement Title 63

HomeLight

JULY 29, 2022

Problem: Your credit took a nosedive since you applied for a loan. You can avoid getting into this situation by avoiding making other big purchases or applying for other loans once you are approved for a mortgage and under contract. This can radically alter their debt-to-income ratio and jeopardize the whole deal.

Closing 105

Closing Purchase and sale agreement Title Home sale contingency 105