Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for.

Pre-qualification 468

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Housing Wire

DECEMBER 12, 2023

This phenomenon becomes clearly apparent when compared to existing home sales, for which these buydowns are very rare. As shown in the chart below, existing and new home sales for the 19 largest home builders had roughly the same note rates until January 2022. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans.

Debt-to-income ratio 448

Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 448

Housing Wire

AUGUST 8, 2024

So, say it gets rolled into their mortgage or they have to get another loan to pay it off. That gets rolled into their debt-to-income ratio, which means they look like a riskier buyer, which means their mortgage loan gets priced higher, which means they have an additional disadvantage because the cost of lending goes up for them.

Debt-to-income ratio 488

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

Housing Wire

MARCH 24, 2021

One key issue is the PSPA amendment that limits Fannie Mae and Freddie Mac from buying single-family loans secured by investment properties or second homes. Reports that the GSEs are requiring some lenders to adjust loan deliveries as early as April. The revised PSPAs require that beginning Jan.

Debt-to-income ratio 418

Debt-to-income ratio Purchase and sale agreement Loans Principal 418

Housing Wire

MAY 4, 2022

Homes that reach the market sell quickly, bidding wars are the new normal and the investor share of sales continues to rise. Various mortgage finance innovations facilitated larger loans at the same monthly payment to keep up with growing home values – which is one reason why house prices kept going up. Moderation, not bust.

Debt-to-income ratio 397

Debt-to-income ratio Equity Pre-approval Finance 397

Housing Wire

MARCH 4, 2021

The CFPB just issued its final rulings on QM in December , which established a pricing threshold that effectively replaced the debt-to-income limit of 43% with a price-based approach that gives lenders relief for loans capped at 150 basis points above the prime rate. Amending the QM Rule has been a long process.

Debt-to-income ratio 289

Debt-to-income ratio Loans Lending Mortgages 289

Housing Wire

JANUARY 4, 2022

In total, UWM, through its conduit UWM Mortgage Trust, sponsored seven securitization deals last year involving nearly 9,500 loans valued in total at $3.9 In 2021, two of its seven private-label issuances involved jumbo loans with a combined value of $1.2 That’s a strong start for a new issuer. “A

Marketing 394

Marketing Debt-to-income ratio Loans Mortgages 394

Housing Wire

AUGUST 22, 2024

Unlike tangible assets, these costs are akin to personal loans with no collateral to recover in case of default. If sellers can rely on multiple offers due to a shortage of homes for sale, there is no reason for them to lower the asking price. The seller would pocket that money.

Debt-to-income ratio 350

Debt-to-income ratio Finance Mortgages Banks 350

Housing Wire

MAY 3, 2023

But when the Fed raises interest rates, it becomes more expensive for families to take out loans for home purchases. Because there is still a relative low inventory of houses for sale, higher interest rates with higher home prices mean buyers may not find the house they want in the current price range.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

MAY 25, 2022

Between significantly fewer refinances, rising mortgage rates and housing inventory nearly cut in half since 2020, loan officers (LOs) and brokers face a pivotal time where adaptation is a must for success. For instance, processing non-QM loans manually can be prone to human error, cutting into the efficiency of a business.

Debt-to-income ratio 418

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

Keeping Current Matters

AUGUST 20, 2020

Accompanied by more rigorous lending standards, the household debt-to-income ratio is at a four-decade low and household equity near a three-decade high. Second, this service sector-driven recession is disproportionately impacting renters.”.

Debt-to-income ratio 303

Debt-to-income ratio Lending Equity Mortgages 303

Housing Wire

AUGUST 27, 2021

Second , the reporters looked at conventional loans only, meaning loans only from Fannie Mae and Freddie Mac , and did not include loans from FHA / VA / USDA. The result here is that borrowers who have FICO scores below, say, 720 with a high loan to value (LTV) will often find a better deal by going to the FHA.

Debt-to-income ratio 448

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

HomeLight

APRIL 10, 2025

Timing the sale and purchase just right especially in a competitive market like Phoenix often adds extra pressure. A bridge loan could be the solution youre looking for. You can then make a strong offer on your next home with no home sale contingency. Buy Before You Sell What is a bridge loan, in simple words?

Equity 52

Equity Loans Home sale contingency Debt-to-income ratio 52

HomeLight

APRIL 18, 2025

A bridge loan could be the piece that helps everything come together. This short-term loan is designed to help you buy your next home first, and then sell your current home afterward. In this guide, well break down how bridge loans work in NYC and when it might make sense to use one. How does a bridge loan work in NYC?

Equity 52

Equity Loans Debt-to-income ratio Home sale contingency 52

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing 370

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

HomeLight

APRIL 9, 2025

A bridge loan might be the solution youre looking for. You can then make a strong offer on your next home with no home sale contingency. Buy Before You Sell What is a bridge loan, in simple words? Typically, the lender handling your new mortgage will also manage your bridge loan.

Equity 52

Equity Loans Debt-to-income ratio Home sale contingency 52

HomeLight

APRIL 10, 2025

A bridge loan can help you buy a new home before selling your current one. In this post, well break down how bridge loans work in Charleston and share other creative solutions to help you buy before you sell. You can then make a strong offer on your next home with no home sale contingency. But theres another way.

Equity 52

Equity Loans Debt-to-income ratio Home sale contingency 52

Housing Wire

AUGUST 26, 2024

In the meantime, these companies could market other products, such as home equity loans, to borrowers in these portfolios. Middleman pointed to average loan-to-value ratios of 50%, average debt-to-income ratios in the low 40% range, and credit scores in the low 700s as indicators of an “extraordinary” credit.

Mortgages 455

Mortgages Banks Debt-to-income ratio Loans 455

Housing Wire

AUGUST 23, 2023

When asked how relevant this business will be, Garg refers to Amazon , a company that drives two-thirds of its sales from third-party sellers. “We Nunes: Last August, Better partnered with Palantir to create the proprietary loan platform you mentioned, Tinman Marketplace. We aim for a similar mix.” So, we aim for a similar mix.

Debt-to-income ratio 370

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

HomeLight

OCTOBER 28, 2024

A quick turnover can signal strong demand, potentially leading to a faster sale at a favorable price. You can check real estate websites or consult with a local agent to get an idea of average days on market and recent sale prices. You can also view other homes for sale in your neighborhood. (As What is the 5-year rule?

Pre-approval 110

Pre-approval Debt-to-income ratio Equity Loans 110

Housing Wire

MARCH 10, 2023

Among the nonbanks that either have or plan to introduce HELOC loan products are United Wholesale Mortgage , Rocket Mortgage , Guaranteed Rate , loanDepot and New Residential Investment Corp. HELOCs rising Toohig’s sense of the HELOC market from his perch as a loan trader matches the broader rising market numbers for the product.

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

HomeLight

DECEMBER 5, 2023

That’s where a bridge loan in Connecticut can be your saving grace. A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. You can then make a strong offer on your next home with no home sale contingency. Now, let’s talk numbers.

Equity 111

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

Realtor.com

JANUARY 7, 2021

First, let’s talk about why a home buyer might not be approved for a loan. Still, pre-approval is not a guarantee that a buyer will get a loan. The most likely reasons for a loan being shot down include the following: The buyer’s credit score isn’t as high as the lender requires.

Loans 133

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

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. In this guide, we explain the ins and outs of bridge loans in Utah and help you decide if they could be the answer to your property puzzle. How does a bridge loan work in Utah?

Equity 116

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

HomeLight

NOVEMBER 7, 2023

Enter the bridge loan, a financial tool designed to bridge this very gap. 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. What is a bridge loan, in simple words?

Equity 115

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

HomeLight

DECEMBER 13, 2023

But there’s an alternative you probably haven’t considered — a bridge loan. A bridge loan is a short-term financial tool that “bridges the income gap”, enabling you to purchase your new home before you’ve sold your old one. You can then make a strong offer on your next home with no home sale contingency.

Equity 119

Equity Loans Debt-to-income ratio Home sale contingency 119

HomeLight

NOVEMBER 21, 2023

Navigating the real estate market in Pennsylvania, especially when you’re trying to coordinate the sale of your current home with the purchase of a new one, can be a challenging balancing act. Enter the bridge loan, a potential lifeline in this complex process. What is a residential bridge loan?

Equity 111

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

HomeLight

SEPTEMBER 25, 2024

Are you considering using a home equity loan to help buy your next house? However, there are key factors and risks to consider before borrowing against your home equity loan for a down payment. However, there are key factors and risks to consider before borrowing against your home equity loan for a down payment.

Equity 111

Equity Loans Debt-to-income ratio Mortgages 111

HomeLight

OCTOBER 25, 2023

Enter the bridge loan: a timely financial lifeline that lets you buy your new home before selling your old one. We’ll delve into the mechanics, pros, cons, and alternatives to bridge loans, ensuring you have all the tools you need to make the best decision for your unique situation. What is a bridge loan, in simple words?

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

HomeLight

NOVEMBER 29, 2023

However, there’s a solution that might just make these puzzle pieces fit seamlessly together: a bridge loan. You can then make a strong offer on your next home with no home sale contingency. If you need assistance navigating the use of a bridge loan in Michigan, HomeLight encourages you to reach out to your own advisor.

Equity 111

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

HomeLight

DECEMBER 13, 2023

But there’s another option that you probably haven’t considered: a bridge loan. A bridge loan is a short-term loan that “bridges the income gap” between selling your existing property and purchasing your next home. You can then make a strong offer on your next home with no home sale contingency.

Equity 116

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

HomeLight

DECEMBER 15, 2023

Lining up the sale of your current home while trying to close the deal on a new one, particularly in a competitive market where inventory is low, may feel impossible. However, there’s one financial tool you probably haven’t considered – a bridge loan. You can then make a strong offer on your next home with no home sale contingency.

Equity 111

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

HomeLight

NOVEMBER 30, 2023

Enter the bridge loan, a potential game-changer for your property transition. In this post, we’ll explore how a bridge loan could be the key to unlocking your homebuying and selling goals in Nevada. You can then make a strong offer on your next home with no home sale contingency. What is a bridge loan?

Equity 115

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

HomeLight

DECEMBER 15, 2023

Managing the sale of your Austin home while trying to purchase a new one can be difficult. With rising prices in a market where homes are in high demand, timing your sale and purchase can be particularly challenging. Enter the bridge loan. You can then make a strong offer on your next home with no home sale contingency.

Equity 111

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

HomeLight

DECEMBER 29, 2023

However, there’s a solution that you may not have considered: a bridge loan. A bridge loan is a short-term financial tool designed to “bridge the gap,” enabling you to purchase a new home before you’ve sold your current residence. You can then make a strong offer on your next home with no home sale contingency.

Equity 111

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

HomeLight

NOVEMBER 21, 2023

Navigating the real estate market in Minnesota can feel like a high-wire act, especially when you’re juggling the sale of your current home with the purchase of a new one. Enter the bridge loan, a financial lifeline that can synchronize the purchase of your new Minnesota home while leveraging the equity of your current property.

Equity 115

Equity Loans Debt-to-income ratio Staging 115

HomeLight

DECEMBER 14, 2023

You might think your only choice is to sell your home, move out, and then scramble to find a new one, but there’s an alternative you likely haven’t considered — a bridge loan. A bridge loan is a short-term financing option that allows you to buy a new home before selling your current one. What is a bridge loan, in simple words?

Equity 111

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