Tag Archive for: purchase

How Much Income Do You Need to Buy a House?

When starting on your homebuying journey, most often homebuyers wonder about the cost, what they can afford, and how much income is needed to purchase a home. There are many different factors and calculations that we've broken down to help explain how much income is needed to buy a home. Read More

Why Rocket/Quicken Did Not Disclose Percentage of Purchases vs Refis

I read yesterday that Rocket (parent company of Quicken) did not disclose its percentage of purchases (relative to refis) in its earnings release for Q3. I found that fascinating b/c […]Read More

Fires, Hurricanes, Appraisals & Delays; Agent Resource Guide

In Friday’s Blog, I mentioned how we were losing Appraisal or Property Inspection Waivers (PIWs) b/c of the fires in NorCal, but I made an error. Underwriters are not always […]Read More

Gift of Equity Instead of Down Payment – When Family Sells to Family

Gift Of Equity This is a reminder that sellers can “Gift Equity” as all or a portion of a down payment. If the entire down payment is a “Gift of […]Read More

Rate Shopping Concerns; Avoiding Pain for All

We sometimes lose pre-approved “rate shopping” borrowers long before they are even in contract. This is frustrating for us b/c our full pre-approvals take two to three hours of time, […]Read More