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Opinion: The not-so-surprising resurgence of home equity lending

Housing Wire

Despite rising rates, demand for home equity lines of credit (HELOCs) continues to surge with 2022 origination levels up more than 40% from a year ago, according to data from Citizens. Record levels of home equity. This too is changing as innovation in the home equity lending space has finally arrived. Customer experience.

Equity 411
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Prioritizing home equity solutions in a rising rate environment

Housing Wire

The 2022 housing market has been underscored by interest rate spikes and refi decline and lenders are working hard to adjust to new borrower trends. HousingWire: Between inflation and additional interest rate hikes coming down the line from the Fed, why is now a smart time for lenders to start prioritizing home equity products?

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Online bank Ally launches home grant program

Housing Wire

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

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How Much Are Closing Costs in Pennsylvania?

HomeLight

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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Opinion: Here’s what people are getting wrong about real estate commissions

Housing Wire

Any person involved in selling a home knows that you cannot increase the price of your home randomly to cover the cost of commissions and other closing costs. The market sets the price of the home, and it cares little for closing costs — or what the homeowner invested in it — when determining the price for which it will sell.

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With landmark GSE equity plans, FHFA confronts legacy of redlining

Housing Wire

We do hope the GSEs start exercising market leadership [on special purpose credit programs],” a FHFA official said on a press call today. Freddie Mac will also conduct research on formerly redlined areas, to more effectively target its equity plan.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). Yet staggeringly few are aware of its existence.

Finance 446