Housing Wire

AUGUST 31, 2020

In creating its AutomatIQ Borrower solution, CoreLogic aimed to provide one consistent, objective and transparent workflow that lenders could leverage to validate applicants from pre-qualification to closing. And it’s Day 1 Certainty approved.”. But we don’t.

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Pre-qualification Pre-approval Loan Officer Loans 253

Realtor.com

APRIL 29, 2021

To avoid this fate, make sure to crunch your numbers in our mortgage calculator or a home affordability calculator , and apply for mortgage pre-approval to see just where you stand in terms of how much house you can afford. Pre-qualification and pre-approval are essentially the same. Absolutely not.

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Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

Redfin

AUGUST 13, 2020

Clearing your way to get approved for a home loan will ensure that you are ready to act when that dream home appears on the housing market. Follow these ten steps for how to get a home loan and put a plan in place to finance what will most likely be the biggest purchase of your life. Step 1: Know your credit score.

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Pre-approval Loans Pre-qualification Banks 71

HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. On average, closing costs comprise between 2% and 5% of the loan amount. Preapproval is exactly as it sounds.

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Short sale Sales Pre-approval Pre-qualification 97

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 59

Redfin

MARCH 18, 2022

Dionne LeBlanc, Senior Loan Officer at Family First Funding , recommends focusing on increasing your credit score in order to become a homeowner. A good mortgage loan officer will be able to tell you what you can do to increase your score to prepare. Skipping the pre-approval.

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Mortgages Pre-approval Pre-qualification Loans 66

Realty Biz

SEPTEMBER 30, 2023

Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance. They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval.

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Finance Debt-to-income ratio FHA loan Mortgages 96

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Find a HUD-approved agent. No problem!

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Pre-approval Pre-qualification FHA loan Inspection 105

HomeLight

AUGUST 16, 2021

These classes may be available online or in-person, and you will need to supply a certificate of completion to your loan officer. Step 5: Get preapproved for your loan. Then, they’ll give you a conditional approval stating the amount of the mortgage you’ve been preapproved for (as well as a good idea of your rate).

Loans 105

Loans VA loan FHA loan Purchase and sale agreement 105

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. Loans are between 3%-3.5%

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Earnest money deposit Closing Sales Title 110

HomeLight

AUGUST 31, 2022

Since all these loans use your equity in the home as collateral, they usually offer significantly lower interest rates and better terms than personal loans, credit cards, and other unsecured debt. What qualifications do I have to meet to access my home’s equity? If that application is approved, they now have two loans.

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Equity Finance Loans Closing costs 105

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. Loans are between 3%-3.5%

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Closing Earnest money deposit Sales Inspection 118

HomeLight

MAY 31, 2021

These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? There are several types of home loans out there, and you’ll want to ask any potential lender which ones they offer, as not all lenders support all loan types.

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Mortgages Debt-to-income ratio Loans Closing costs 85

The Close

DECEMBER 29, 2022

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. They sign all of the loan documents, have interest in the property being purchased, and are required to pay the monthly payments if the primary borrower is unable to.

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Purchase and sale agreement Title Proof of funds Pre-approval 98