Quicken Loans

APRIL 14, 2021

When you’re applying for a mortgage, providing adequate documentation can feel like an intimidating process. To heighten the stakes, if you can’t get your documents submitted in a timely manner, it can seriously slow down the mortgage approval process. It’s a process that protects you, the lender and the economy as a whole.

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Mortgage Landlords Investing Legal 61

Appraisal Today

SEPTEMBER 8, 2023

Appraisers are being told by their AMC clients and loan officers to appraise these as residential properties. They are told it’s fine to use the total yearly income and “simply divide by 12” to produce a monthly income that can be used to value these places using a Gross Rent Multiplier (GRM). But is it really that simple? Short answer—no.

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Quicken Loans

NOVEMBER 17, 2021

For decades, veterans nationwide have taken advantage of the benefits offered through a VA loan. In most cases, VA loans save home buyers money in the long run. One of the first steps in pursuing a VA loan is getting approved for a specific amount so you can begin house hunting (many lenders call this “preapproval”).

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Movoto

FEBRUARY 23, 2024

A decisive majority of home buyers ( about 80% ) rely on one of a few types of home loans available to purchase a home. Each has unique benefits, though not all types of mortgage loans apply (or are accessible) for every home sale. Conforming Loans Conventional loans come in two flavors: conforming and nonconforming.

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Quicken Loans

JUNE 10, 2021

Immediately, the question arises: How do you start the process of getting a mortgage loan? If you’re buying for the first time , the mortgage loan process can be confusing and unfamiliar. You may be wondering, “Is my credit score high enough to qualify for a loan? 9 Steps To Getting A Mortgage.

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Appraisal Today

AUGUST 4, 2023

In a truly Orwellian move, mortgage giant Freddie Mac recently announced its intent to censor an arbitrary collection of words such as “desirable,” “safe,” “well-kept,” “student” and “crime” when they appear, in any context, in the hundreds of thousands of appraisal reports it relies on in mortgage underwriting.

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Quicken Loans

MAY 12, 2021

And, in some cases, getting married can even affect your mortgage. But if you’re married, one that you might not have thought about is whether you and your spouse should both be on the home loan. In some cases, having only one spouse on the mortgage might be the best option. It can: Raise your taxes. Let’s take a look at those.

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Mortgage Law Business Legal 68

Appraisal Today

OCTOBER 13, 2023

How to Level Up as an Appraiser By Conrad Meertins Jr. Excerpts: The key is not the letters but the competency or skill. For example, are you competent to prepare an entire appraisal from start to finish? You might answer, “Absolutely!” But what if the appraisal form was completely blank with no boilerplate text? Are your legs shaking?

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Appraisal Today

JANUARY 4, 2023

To read more of this long blog post with many topics, click Read More Below!! NOTE: Please scroll down to read the other topics in this long blog post on USPAP and non-traditional appraisals, Non-lender appraisals, reos, tear downs, unusual homes, mortgage origination stats, etc. ==. By: McKissock (Survey). Other (6%).

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Quicken Loans

JUNE 22, 2021

In order to get preapproved for a mortgage , your mortgage lender will need to verify your income and asset information to determine how much home you can afford and the interest rate you’ll pay on the loan. What Types Of Assets Should Be Reported On Your Mortgage Application? What Is An Asset Statement? Liquid Assets.

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Mortgage Finance Brokerage Insurance 38

Will Springer Realtor

AUGUST 11, 2023

Click to expand any image or graphic from my newsletters and blog posts.) NAR’s Housing Affordability Index is a good measure of whether a household earns enough to qualify for a mortgage on a typical home. Is the dream of homeownership going the way of the dodo? It may take decades to backfill stock, which is said to be roughly 4.5M

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Buyers Development Construction New Listings 36

Will Springer Realtor

OCTOBER 11, 2023

Since Veterans Day falls on a Saturday this year, you can expect far more people and far less available parking. Zoning laws in the U.S. are a bit like that one quirky relative at family gatherings – they have their benefits, they have their drawbacks, and sometimes, they just leave you scratching your head in bewilderment.

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