Housing Wire

JANUARY 13, 2021

In December 2020, Houston saw a 25% growth in home sales compared to the same month the previous year. Realtor.com’s 2021 Housing Forecast predicts home sales in Phoenix, Arizona will increase 11.4% The housing market in Houston is booming, with buyers paying high prices for average homes. . Median home price: $272,000. from last year.

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Housing Wire

AUGUST 8, 2024

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. As these business practice changes begin Aug.

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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. As of July 2023, the gap had slightly narrowed to 0.8 2022 to Dec.

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

Housing Wire

MARCH 30, 2021

At HousingWire’s 2021 Annual Spring Summit, CreditXpert VP of Sales and Client Success Matt Hydrew and T odd Worthington , director of qualification support at Bank of England, discussed top-of-the-funnel strategies lenders can use to help borrowers gain a better understanding of their credit score.

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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. The mortgage debt-to-income ratio is near a four-decade low and homeowner equity is at a historic high. The combination of these factors has some feeling 2008 déjà vu. Moderation, not bust.

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Housing Wire

MARCH 4, 2021

Extending the compliance date of the General QM final rule would also give lenders more time to use the GSE Patch, which provides QM status to loans that are eligible for sale to Fannie Mae or Freddie Mac.”. Amending the QM Rule has been a long process.

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Housing Wire

AUGUST 22, 2024

Adding an additional debt burden to lower-income consumers would leave them in a worse position under the present system, increasing their debt-to-income ratio, making it harder to qualify for a mortgage , and making borrowing more expensive. The seller would pocket that money.

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Housing Wire

MAY 3, 2023

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.

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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.”.

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Housing Wire

MARCH 24, 2021

The MBA is also concerned about GSE compliance with the revised PSPA provision regarding Freddie and Fannie’s acquisition of loans that have certain characteristics: a combined loan-to-value ratio at origination above 90%, a borrower debt-to-income ratio above 45%, or a credit score below 680.

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Housing Wire

APRIL 12, 2024

According to Altos Research data , 90-day median list prices have risen from roughly $230,000 in April 2020 to $275,000 in early April 2024, contributing to the slowdown in home sales. According to data from Redfin , 2,491 homes were sold in Louisiana in February 2024, down 6.2%

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Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. home sales—often attract buyers who are stretching their financial limits to achieve homeownership.

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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 Better wants to sell this platform to other companies, becoming a “mortgage-as-a-service” company or a white-label provider of mortgage tech, Garg said. We aim for a similar mix.”

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Housing Wire

AUGUST 27, 2021

In January of this year, just before Mark Calabria left office , the FHFA, Treasury, and the GSEs finalized an amendment to the Preferred Stock Purchase Agreement (PSPA) that did a number of things affecting second homes, 2-4 units, cash sales and more.

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Housing Wire

JANUARY 4, 2022

Still, even in those transactions, the underlying collateral appears solid, with the average credit scores of the borrowers above 760 and the average debt-to-income ratio ranging from 64.4% If you if you look at home sales in California, virtually nothing is being sold at the low end of the market.”.

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Housing Wire

MAY 25, 2022

Non-QM loans are harder than other loan products, so lenders must invest the time, resources and education into their sales teams and brokers to learn the intricacies of non-QM products. “As that sector continues to grow, so does the potential for loan officers and brokers to bring them on as customers with the right type of products.”.

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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?

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Housing Wire

AUGUST 7, 2023

Income and credit information are inputted into the AUS. Then, it makes a decision based on three primary factors: debt-to-income ratio (DTI), credit score and loan-to-value ratio (LTV). Lenders use systems called automated underwriting systems (AUS) that are accessed by Fannie Mae and Freddie Mac.

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Housing Wire

AUGUST 26, 2024

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. Volumes will increase, as will gain-on-sale margins. That’s our goal.” to 8% range. We never take credit when it goes up.

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HomeLight

APRIL 10, 2025

Timing the sale and purchase just right especially in a competitive market like Phoenix often adds extra pressure. You can then make a strong offer on your next home with no home sale contingency. But for many buyers, the higher cost is worth it to avoid rushed sales or temporary housing.

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Housing Wire

MARCH 10, 2023

At the end of the contract period (10 years in the case of Unlock) the homeowner must settle the terms of the contract either through a direct payment, refinancing or the sale of the home. And we have more of an asset-based underwriting not focused on debt-to-income ratios.”

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HomeLight

APRIL 9, 2025

You can then make a strong offer on your next home with no home sale contingency. Lenders usually require that your current home is listed for sale and will offer a bridge loan for a term of six months to one year. Your lender may calculate your debt-to-income ratio to decide if you qualify.

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

HomeLight

APRIL 10, 2025

You can then make a strong offer on your next home with no home sale contingency. They typically require that your current home be listed for sale and offer the bridge loan for a short term, usually six months to one year. When reviewing your application, the lender may need to calculate your debt-to-income ratio.

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

Point2Homes

OCTOBER 6, 2020

When you apply for a mortgage, the loan officer will review your income and compare it to your monthly expenses, which is your debt-to-income ratio — the lower the ratio, the better. Typically, to be eligible for a mortgage, your debt-to-income ratio must be 43% or less.

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RIS Media

JANUARY 18, 2022

A title search may reveal a lien on the property, the buyer may be unable to get financing because of a low credit score or high debt-to-income ratio, or the house may appraise for less than the agreed-upon price. What Is a Pending Sale? There are a lot of things that can go wrong. appeared first on RISMedia.

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Housing Wire

JULY 25, 2023

Impact on home values and sales In the meantime, real estate agents in Florida and California are concerned that the rising homeowners’ insurance costs in their states will have a negative impact on homeownership. Entry level homebuyers are getting hit hardest. “If

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Marco Santarelli

APRIL 4, 2025

Personal Financial Profile : Individual borrowers can influence their rates based on their credit scores, debt-to-income ratios, and the size of their down payments. How Does the Fed Rate Affect Mortgage Rates? While mortgage rates do not directly follow the Federal Reserve's interest rate changes, they can influence them.

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Realty Biz

MARCH 12, 2023

To evaluate creditworthiness, they analyze the borrower's credit score, income, and debt-to-income ratio. Appraisals require licensed professionals who rely on the property’s location, size, condition, and the locality’s comparable sales to assess value.

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RIS Media

APRIL 8, 2022

Here’s all you should know about contingent sales as a potential home buyer. An active listing means the home in question is currently on sale, and sellers are actively open to offers. If the house doesn’t get sold in the stipulated time, the sale can fail to materialize. The clause is referred to as a home sale contingency. .

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Point2Homes

DECEMBER 15, 2021

As a result, you will need to meet the lender’s requirements when it comes to credit score and credit history, income and debt-to-income ratio to qualify for a loan. However, they must also meet the lender’s debt-to-income ratio, as well as credit score requirements. As a bonus, the U.S.

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HomeLight

DECEMBER 5, 2023

You can then make a strong offer on your next home with no home sale contingency. Your lender might need to crunch the numbers and calculate your debt-to-income ratio (DTI). Prep Your Old Home: Move out and prepare your old home for sale at your own pace. Now, let’s talk numbers. Transition seamlessly.

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Realtor.com

JANUARY 10, 2023

How debt-to-income ratio is calculated with a co-signer. Mortgage approval (and how large a mortgage you can get) hinges on your debt-to-income (DTI) ratio, which is essentially how much money you have coming in (income) compared with going out (aka your debts, including college loans, car loans, and otherwise).

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Marco Santarelli

MARCH 6, 2025

They anticipate an increase in housing starts (new home construction) and new home sales in the coming years. Do you have a solid down payment, good credit, and comfortable debt-to-income ratio? This has significantly reduced the number of existing homes on the market, keeping supply low and prices elevated.

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Point2Homes

DECEMBER 7, 2020

If a homeowner fails to keep up with their mortgage payments, the lender can begin foreclosure proceedings, and the sale of foreclosed homes can sometimes be a bargain to home buyers. As an example, below are some of the steps involved in the sale of a foreclosed home that you need to be aware of. How to Buy Foreclosed Homes.

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RIS Media

DECEMBER 21, 2020

While the internet is increasingly used as an important tool in the home-buying and selling process, buyers still need the help of a real estate professional to help them find the right home, negotiate terms of sale and help with price negotiations. The same report places the average sale price for January 2020 at $402,400.

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HomeLight

NOVEMBER 3, 2023

You can then make a strong offer on your next home with no home sale contingency. 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. Lenders see them as riskier propositions, given their short-term nature and the uncertainties of real estate sales.

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Marco Santarelli

MARCH 4, 2025

drop in pending home sales just in January. Pending home sales are actually at an all-time low since they started tracking this data way back in 2001! Credit Score and Debt: Lenders will scrutinize your credit score to assess your creditworthiness. We saw this reflected in the numbers. Thats a long time to see such a dip.

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