Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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Housing Wire

MARCH 28, 2024

The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loan officers. About 80% of the mortgages at Better are now being funded as one-day products, Garg noted.

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Loan Officer VA loan Loans Technology 459

Housing Wire

MARCH 1, 2021

Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks.

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VA loan Mortgages Loans Loan Officer 459

Housing Wire

SEPTEMBER 30, 2022

We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator. Best’s top three tips for loan officers using TikTok are to be your genuine self, keep it short and sweet, and “just do the video.”. followers and 524.8k

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VA loan Mortgages Loan Officer Branding 435

Housing Wire

MAY 25, 2021

Like VA loans, which are popular with investors but not homesellers , the benefit would allow the borrower to skip the down payment altogether. Samuel Royer, the national director for Heroes First Home Loans at Churchill Mortgage and a veteran, came up with the idea for the program, to acknowledge first responders’ sacrifices, he said.

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FHA loan VA loan Loans Loan Officer 493

Housing Wire

MAY 28, 2024

Veterans and their families who were deceived into refinancing their VA loans were overcharged and did not receive the loan products promised, resulting in significant consumer harm,” Mark Pearce, director of FDIC’s division of depositor and consumer protection, said in a statement.

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Banks Mortgages VA loan Loan Officer 458

Housing Wire

MAY 26, 2021

ICE found that conventional loans comprised 81% of originations in April, while FHA loans were 10% and VA loans were just 6%. Purchase mortgages on average took 49 days to close in April.

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Closing Mortgages VA loan FHA loan 476

Housing Wire

OCTOBER 27, 2020

Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. FHA loans require just a 500 credit score, as long as you can make a 10% down payment, while VA loans have no credit score requirement whatsoever. Just remember: A perfect score isn’t everything.

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Debt-to-income ratio VA loan FHA loan Loan Officer 444

Housing Wire

SEPTEMBER 6, 2024

For the same 30-year loan of $400,000, a mortgage originator in Texas on Friday quoted 6.35% for a Federal Housing Administration (FHA) loan and 5.5% Department of Veterans Affairs (VA) loan with no points or buydowns. Much will hinge on what the Fed decides in a couple of weeks,” the loan officer said.

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Mortgages VA loan FHA loan Fixed-rate mortgage 476

Housing Wire

FEBRUARY 28, 2023

The company has 548 active loan officers and 379 branches, per the Modex data. According to Messer, Prosperity started as a joint venture with Wells Fargo Ventures and Long & Foster Companies , and the company’s “entire DNA is strictly built out of purchase loans.”

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Lending VA loan Loan Officer Loans 397

Housing Wire

MAY 8, 2023

I have been in the mortgage industry for nine years, with my loan officer in the industry for 19 years and my Realtor for over 10 years. Assuming a VA loan I have nothing but the utmost respect for everyone serving in the military. Veterans Affairs (VA) mortgage loans can be an excellent product for veterans.

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VA loan Mortgages Marketing Loans 418

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. And as a result, few mortgage loan officers have experience or comfort with the product. Tozer suggested “a fee of 1.3%

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FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

OCTOBER 6, 2023

The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans. And we are trying to help them navigate it because the market has overcapacity for both Realtors and loan officers right now,” Boyd said. “It’s hard for brokers to win deals now.

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Mortgages VA loan Finance Renovation 493

Housing Wire

NOVEMBER 7, 2023

mortgage delinquencies — which include conventional, FHA and VA loans — are still near record lows of 3.37% per the MBA. This makes the POS more relevant as a loan manufacturing tool, giving loan officers and underwriters a more complete borrower and property profile sooner in the process. housing value is now $44.5

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Debt-to-income ratio Mortgages VA loan Loans 435

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Vetted VA also moderates a Facebook group: Vetted VA for Professionals. “If

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VA loan Loans Lending Loan Officer 107

Housing Wire

APRIL 4, 2022

The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined. As interest rates rise, so do the monthly mortgage payments, which could be problematic for low-to-moderate income borrowers, said Alex Naumovych, loan officer at Draper & Kramer Mortgage.

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FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Realty Biz

APRIL 24, 2021

A VA Loan Certificate of Eligibility is your proof of service, and it shows that you’re qualified to receive your VA loan benefits. You may be eligible for a VA mortgage if you have served or are currently serving in the military. What is the VA Loan Certificate of Eligibility?

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VA loan Loans Pre-qualification Loan Officer 107

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. Fixed rates through the Federal Housing Administration (FHA) were at 6.10% and those through the U.S. Department of Veterans Affairs averaged 6.12%.

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Mortgages FHA loan Loans Loan Officer 514

Housing Wire

JULY 29, 2024

For example, it could detect that a loan officer didn’t offer a VA loan to a qualified borrower so it would prompt that. Reverses the QC process to happen from the start. The co-bot would listen in on client conversations and give immediate feedback.

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Loans VA loan Technology Property Management 360

Housing Wire

SEPTEMBER 22, 2023

The employment data comes out on a lag basis for brokers and loan officers. If the FHA loans layered with a DPA are more costly, how do first-time buyers benefit from these programs? The foreclosure rate for FHA loans is higher than the foreclosure rate for VA loans or Fannie Mae or Freddie Mac loans.

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FHA loan Bankruptcy Marketing Loans 476

Housing Wire

MAY 31, 2022

Headed by sales managers Tim Hattan and Tom Bond, as well as loan officer Dalton Clark, the team has expertise in construction lending, which can help buyers determine whether a construction loan will be a viable option. .

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Mortgages Loans Lending Construction 397

Real Trends

NOVEMBER 11, 2022

Real estate professionals should make their customers aware of extra fees associated with USDA loans including an upfront fee of 1% of the loan amount and an annual fee. VA loans provide flexible, low-interest mortgages for active military members and veterans. This option is increasing in popularity.

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Finance VA loan FHA loan Agents 113

Realtor.com

DECEMBER 20, 2021

“The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , To be eligible for a VA loan, you must have served in the military, the National Guard, or the Reserves, or be the spouse of a service member who died in the line of duty.

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Pre-approval Loans Loan Officer VA loan 137

HomeLight

AUGUST 31, 2021

Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. Important things to know: A low or zero down payment will not significantly impact your interest rate with a USDA loan. That’s when you talk to a loan officer,” Helali insists.

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FHA loan VA loan Loans Loan Officer 105

HomeLight

OCTOBER 15, 2020

These loans come with required mortgage insurance, and they typically have higher rates and fees. VA loans : These loans are for qualifying military service members and their families, and they’re backed by the Veterans Administration. VA loans require a minimum credit score of 620 and a maximum DTI of 41%.

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Loans FHA loan Debt-to-income ratio VA loan 98

HomeLight

NOVEMBER 29, 2021

With so many DPA programs, you’ll want to consult with someone who will know them best — your loan officer. What types of mortgage loans are there? Down payment requirements differ depending upon the loan types. Conventional loans. Home loan benefits and housing programs offered through the U.S.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 110

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

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Finance Debt-to-income ratio FHA loan Mortgages 96

The Close

NOVEMBER 25, 2022

Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment! The loan officer should be well-versed in VA financing. It’s also a 0% interest loan.

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VA loan Loans Loan Officer Finance 78

Realty Biz

JUNE 15, 2022

Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. A 20% down payment will help you avoid paying private mortgage insurance (PMI), but you can secure a conventional mortgage with as little as 3% down. Department of Agriculture (USDA) or U.S.

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Debt-to-income ratio VA loan Fixed-rate mortgage Loans 98

HomeLight

AUGUST 16, 2021

You can qualify for loans with as little as 3.5% Service members, veterans, and surviving spouses qualify for these loans with 0% down. That said, some of these loan programs make you a more attractive buyer than others. “If If you’re getting down payment assistance, you’re much better going with an FHA loan.

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Loans VA loan FHA loan Purchase and sale agreement 105

HomeLight

OCTOBER 26, 2021

We’ve asked Richard Helali, Loan Officer and Sales Lead at HomeLight Home Loans , to pull back the curtain to explain what happens during mortgage underwriting. You have to find the right people to help you, even if it means interviewing ten different loan officers.”. How long will it take?

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Pre-approval Mortgages Loans Loan Officer 104

HomeLight

OCTOBER 2, 2020

If you opt for a government-backed loan program, like an FHA or VA loan, you will likely have to pay certain fees connected with these loans at close. For example, FHA loans require an upfront mortgage insurance payment, currently 1.75% of the loan amount. Government program fees. Appraisal fee.

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HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. For a USDA loan, you should have a minimum FICO score of 640.

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

HomeLight

OCTOBER 1, 2020

This, of course, depends on a few variables, such as getting preapproved for a mortgage, or whether you’re taking out an FHA or a VA loan, which may take a bit longer. (We The very first step that must take place before a loan officer can submit your application for processing is that the seller must accept your offer.

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Closing Purchase and sale agreement Inspection Loans 97

Real Trends

MARCH 30, 2022

How many came with an FHA 3% down or a VA loan that is 0% down and are not considered by the seller at all? Realtors have seen buyer and seller markets and loan officers have seen high and low rates. Meanwhile the agent who has a house listed is in the catbird seat with this line hungry to make an offer.

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Marketing VA loan Loans Loan Officer 78

Marco Santarelli

AUGUST 24, 2024

Mortgage Insurance: Keep in mind that FHA loans come with mortgage insurance premiums (MIP), protecting the lender in case of default. Credit Score Requirements: While the VA doesn't set a minimum credit score requirement, most lenders look for a score of 620 or higher. However, some lenders may work with borrowers with lower scores.

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Mortgages Pre-approval VA loan FHA loan 52

Marco Santarelli

OCTOBER 6, 2023

For investment property loans FHA or VA does not offer a non-owner occupied programs. Occasionally loan servicers that are reselling a previously funded VA loan that was inherited through foreclosure will offer a qualifying assumable option to investors to purchase that property.

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