Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. Broken down on generational lines, 25% of Baby Boomers report not needing financing, compared with just 8% or less for younger generations.

FHA loan 390

FHA loan VA loan Loans Finance 390

Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. at the end of Q1, “compared with 4.01% for Federal Housing Administration (FHA) loans, 2.26% for Veterans Affairs (VA) loans, and 1.73% for all loans (industry average),” the report said.

VA loan 326

VA loan FHA loan Fixed-rate mortgage Principal 326

Housing Wire

MARCH 24, 2023

The Federal Housing Finance Agency (FHFA) released on Thursday its Fourth Quarter 2022 Foreclosure Prevention and Refinance Report, stating that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions in Q4 2022.

Fixed-rate mortgage 378

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Lab Coat Agents

MAY 21, 2024

In today’s rapidly evolving real estate market, assumable mortgages have emerged as a game-changer for homebuyers seeking to save money and secure favorable financing terms. Qualification Process: While buyers still need to qualify for an assumable mortgage, the process may be more streamlined compared to applying for a new loan.

VA loan 98

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Housing Wire

NOVEMBER 16, 2021

The strong monthly gain puts MBA’s estimate of new home sales at its strongest pace since January 2021, the report said. In September , the average mortgage loan size of new homes clocked in at $408,522, the survey found. Regarding product type, conventional mortgage loans reigned supreme, making up 75.7% of loan applications.

Mortgages 469

Mortgages VA loan FHA loan Construction 469

Housing Wire

MARCH 25, 2021

You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier. Yes, we’re talking about a bridge loan. But, a bridge loan comes with a higher interest rate.

Loans 542

Loans VA loan FHA loan Finance 542

Eye on Housing

JANUARY 26, 2024

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% Read More ›

VA loan 98

VA loan Sales Finance Loans 98

Eye on Housing

JULY 27, 2022

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% Conventional loans financed 74.8% of new home sales in the second quarter of 2022—a 1.8

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FHA loan Loans Sales Finance 108

HomeLight

JUNE 16, 2023

If you’re selling to a buyer backed by an FHA loan , your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. By contrast, most conventional loans require a credit score of 620 or above.

FHA loan 90

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Housing Wire

NOVEMBER 16, 2023

We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace — the strongest sales month since May 2023.” FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% Conventional loans made up 63.6%

Mortgages 423

Mortgages VA loan Loans New Construction 423

Eye on Housing

APRIL 26, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% Conventional loans financed. in the first quarter of 2023. Read More ›

FHA loan 106

FHA loan Sales Finance Loans 106

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

FHA loan 107

FHA loan Loans Pre-approval Pre-qualification 107

Housing Wire

DECEMBER 16, 2021

The mortgage trade group estimates that on an unadjusted basis there were 65,000 new home sales in November, from 68,000 new home sales from the month prior, a decline of 4.4%. In October , the average loan amount for a new home was $412,339, the survey found. “A By product type, conventional loans made up 76.3%

Mortgages 320

Mortgages VA loan FHA loan Loans 320

HomeLight

DECEMBER 5, 2023

An assumable mortgage is a type of home loan that allows a new buyer to take over the seller’s existing loan terms, including the interest rate, remaining balance, and repayment period. This can be particularly advantageous if the existing loan’s interest rate is lower than current market rates.

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FHA loan VA loan Mortgages Loans 97

HomeLight

NOVEMBER 6, 2023

An assumable mortgage allows a buyer to purchase a home by taking over the seller’s existing mortgage loan. One reason more buyers are seeking assumable mortgages is to take advantage of lower interest rate financing. Here are some common types of mortgage loans and their assumability: 1. VA funding fee.

FHA loan 98

FHA loan VA loan Mortgages Marketing 98

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

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Eye on Housing

APRIL 26, 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the largest share of new home sales since 2018. The share of sales backed by conventional loans in the Q1 2021 increased 2.8

Finance 138

Finance Sales Loans Mortgages 138

HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

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Short sale Loans Sales FHA loan 138

HomeLight

DECEMBER 12, 2023

Partner With a Top Agent Familiar With Assumable Mortgages An experienced agent can help minimize challenges and coordinate a home sale between family members. Here’s a breakdown of the common types of loans and their assumability: FHA loans: These loans, backed by the Federal Housing Administration ( FHA ), are typically assumable.

VA loan 100

VA loan Mortgages Purchase and sale agreement FHA loan 100

HomeLight

DECEMBER 28, 2023

Here’s a quick rundown of the common types of loans that are assumable: FHA loans: Backed by the Federal Housing Administration , these loans are assumable. However, the person assuming the loan must meet the FHA’s lending criteria. Most conventional loans are not assumable.

Loans 92

Loans Purchase and sale agreement VA loan Mortgages 92

Eye on Housing

FEBRUARY 17, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. of new home sales in the fourth quarter of 2022—the largest share since 1990. Census Bureau reveals that cash purchases made 11.2% The share of cash purchases has climbed each of the past four quarters and six of the last seven.

Sales 122

Sales Finance Marketing VA loan 122

HomeLight

APRIL 30, 2024

We’ll also break down the concept of mortgage assumption, clarify what loan types might qualify, and provide tips about this growing homeownership trend. Partner With a Top Agent Familiar With Assumable Mortgages An experienced agent can help minimize challenges and coordinate a home sale between family members.

Purchase and sale agreement 93

Purchase and sale agreement Mortgages VA loan Loans 93

Real Trends

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. Broken down on generational lines, 25% of Baby Boomers report not needing financing, compared with just 8% or less for younger generations.

FHA loan 84

FHA loan VA loan Loans Finance 84

HomeLight

MAY 8, 2024

As is” is a type of home sale where it’s understood that no improvements will be made to the property. An as-is sale may also indicate that the functionality and longevity of specific home components, such as the water heater or the roof, are in less than perfect condition and may need considerable repair.

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Marco Santarelli

APRIL 20, 2024

The report further highlights a rise in delinquencies across various loan types: Conventional Mortgages: Delinquency rates for these loans rose slightly, from 2.5% FHA Loans: Loans insured by the Federal Housing Administration (FHA) saw a more significant jump, with delinquency rates climbing from 9.5%

Mortgages 52

Mortgages VA loan Marketing FHA loan 52

HomeLight

AUGUST 9, 2022

If you back out of the sales agreement and your reason for doing so isn’t covered by contingency written into the contract, the seller can keep your earnest money. How much you’ll put down depends on the specifics of your finances, and what kind of mortgage you’re getting.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 88

Realtor.com

NOVEMBER 9, 2022

When you sell your home, the buyers have to get their own mortgage and you pay yours off in full with proceeds from the sale. Most loans aren’t transferable, and the reason for this is that they have a “due on sale” clause, explains Chris Combs , founder of Combs Law Group.

Mortgages 98

Mortgages VA loan FHA loan Loans 98

HomeLight

JUNE 30, 2021

“You can walk in without [taking] any money out of your pocket,” says Richard Helali, mortgage sales leader at HomeLight Home Loans (though note that you may be responsible for some closing costs, depending on your situation). Financing a home may be more feasible than you think! USDA loan. VA loans are backed by the U.S.

VA loan 64

VA loan FHA loan Mortgages Closing costs 64

HomeLight

OCTOBER 22, 2021

The pre-approval, on the other hand, gives you a more concrete figure for what you will actually be able to borrow based on a more rigorous inquiry into your finances and records. How much can I afford with a Federal Housing Authority (FHA) loan? with an FHA loan. How much can I afford with a VA loan?

Pre-qualification 86

Pre-qualification Pre-approval VA loan FHA loan 86

HomeLight

DECEMBER 19, 2023

This approach involves taking over the existing mortgage of a home for sale, potentially allowing you to enjoy lower interest rates and reduced monthly payments. Here’s a brief overview: FHA loans: Insured by the Federal Housing Administration , these loans are often assumable.

Banks 94

Banks Mortgages VA loan FHA loan 94

Realty Biz

SEPTEMBER 23, 2023

How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price. They analyze property values, market conditions, and comparable sales to help you submit a fair and competitive offer.

Purchase and sale agreement 73

Purchase and sale agreement Pre-approval Agents Pre-qualification 73

HomeLight

JULY 31, 2022

Even before you decided to put your home up for sale, you probably knew making minor repairs and sprucing up your home would increase the chances of attracting the right buyers and getting a great offer. So how can you know what kind of repair issues could potentially derail a sale — before you even have an offer?

Closing 98

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HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Loans are between 3%-3.5% FHA loans FHA loans are geared toward borrowers with lower income and have more lenient credit score and down payment requirements than conventional loans.

Closing 87

Closing Earnest money deposit Sales Inspection 87

Realty Biz

FEBRUARY 1, 2024

A credit in home sales can be given for several reasons. Sometimes, seller credits can be critical in helping a buyer secure financing. It could expedite the sale of the property. They can also be crucial in helping buyers secure financing and close the deal on a property. It is the same as a price reduction for sellers.

Purchase and sale agreement 80

Purchase and sale agreement Closing costs VA loan FHA loan 80

Eye on Housing

FEBRUARY 3, 2021

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the most new home sales in a fourth quarter since 2006 (see red bars in the chart below). percentage points (quarter-over-quarter).

Sales 98

Sales Finance Loans VA loan 98

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. Loans are between 3%-3.5% down payment and/or closing cost assistance.

Closing 82

Closing Earnest money deposit Sales Title 82

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. PMI can be dropped when you reach 20% equity by paying down your loan principal. FHA loans are government-backed loans geared toward buyers who don’t qualify for conventional loans.

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FHA loan VA loan Loans Loan Officer 94