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Have your personal financial documentation and get in touch with your lender. Your preapproval letter should either spell out the expiration date or list how many days the letter is valid. Reach out to the mortgage loan officer listed on your letter. You’ll have to provide current versions of your preapproval documentation.

Mortgage underwriting assesses credit, finances, and property value to determine mortgage application approval. Steps – Preapproval: Estimates borrowing capacity – Verification: Confirms income, assets, and credit – Appraisal: Matches property value to loan – Title search: Verifies legal ownership transfer

Mortgage preapprovals generally last 30 to 90 days: Most lenders set this timeframe to ensure borrower finances are up-to-date.You can reapply if preapproval expires: Reapplying may adjust your preapproval amount if financial circumstances change.

‘We have to be better at explaining to the client the time is now,’ said CEO Tristan Kirk (pictured), CEO and managing partner of Citadel Mortgages in Canada and Simply Approved Mortgages in the US, is acutely aware of the changes shaping the mortgage industry in North America. And, when asked about the recent growth…

Focus turns to how new Trump administration will tackle housing crisis The dust has settled on a momentous 2024 US presidential election campaign that dominated headlines for months and put two sharply contrasting plans for America’s future in the spotlight – and as a second Donald Trump presidency looms into view, attention in the mortgage…

This guideline highlight is for those of you that serve the military communities. Many active-duty military serve their 4 years or however long they have been active and then decide to go back to civilian life. This process can be a bit tricky when you have a family, and the timing needs to be right,…

Federal Reserve cut interest rates by 0.25% on November 7, targeting a range of 4.5% to 4.75%.Future rate cuts projected through 2026, with another 0.25% cut expected in December 2024.The Federal Reserve's next policy meeting is scheduled for December 12-13, 2024.

Florida’s housing market shows rapid price growth, particularly in cities like Miami, raising bubble concerns. Inventory has risen by 59% in 2024, creating a more balanced yet cautious market outlook.

If you’re a homeowner with a mortgage, you’ve likely come across something called mortgage insurance. Mortgage insurance, also known as private mortgage insurance (PMI) for conventional loans or mortgage insurance premium (MIP) for FHA loans, is a requirement when you don’t have a sufficiently large down payment. It’s an additional cost that can add up…

Florida voters will consider a proposed amendment to the State Constitution that mandates adjustments for homestead exemptions based on inflation. Continue to full article