HomeLight

AUGUST 16, 2021

The first time you do something is always the hardest, and buying a house is definitely no different. First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Sound great? Sure it does!

Loans 96

Loans VA loan FHA loan Purchase and sale agreement 96

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers.

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Pre-approval Marketing New Construction Construction 380

Housing Wire

APRIL 9, 2024

So, it’s not surprising to see the administration and members of Congress announcing big-ticket legislative initiatives to boost homeownership — like a first-time homebuyer tax credit and the Neighborhood Investment Act to fix up older homes. The Community Home Lenders of America (CHLA) applauds these initiatives.

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FHA loan Loans Title Mortgages 430

Housing Wire

FEBRUARY 15, 2024

The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. They made good money, but with student loans and car payments, they didn’t have the money for the down payment and closing costs,” Saller said.

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FHA loan Loans Closing costs Loan Officer 442

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. is more than 4 percentage points higher than for repeat buyers in recent months.

Loans 493

Loans Debt-to-income ratio Lending Banks 493

Housing Wire

APRIL 15, 2024

Buyer agent fees have historically been fees customarily paid by the property seller or property seller’s real estate agent, and, as such, they are currently excluded from these financing concession limits,” according to the statement from Freddie Mac. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

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Agents Seller concession VA loan Finance 529

Housing Wire

MARCH 12, 2024

million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. Co-occupant, co-borrowers were more common in places where homes can be adapted to comprise multiple living spaces. In total, more than 9.5

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FHA loan Loans Finance Lending 444

Housing Wire

MARCH 5, 2024

Housing affordability is at its lowest level in more than a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. An assumable mortgage enables a qualified buyer to take over a seller’s mortgage terms, including the existing balance and interest rate.

VA loan 395

VA loan Mortgages Loans Agents 395

Housing Wire

MARCH 25, 2024

On the heels of the $418 million settlement recently announced by the National Association of Realtors (NAR), mortgage trade group Community Home Lenders of America (CHLA) has called on the U.S. Under the current system, the buyer agent’s commission is baked into the price paid for a home.

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Agents VA loan Loans Mortgages 430

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

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Loans Finance Mortgages Land 532

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

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Loan Officer Loans Finance Mortgages 347

Housing Wire

FEBRUARY 20, 2024

According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% While the gains should be celebrated, the pathway into homeownership remains arduous for minority buyers.”

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Loans Title Equity Mortgages 385

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Industrial Seller concession Purchase and sale agreement Agents 501

Housing Wire

MARCH 5, 2024

It’s still the first quarter of 2024, so it may be too early to be pessimistic about the current mortgage rate environment, but it’s becoming more likely that a much anticipated cut in benchmark rates from the Federal Reserve won’t come until the summer of 2024. “I economy remains hot. But look, I think a lot of it is wishful thinking.

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Loan Officer Loans Mortgages Agents 382

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. They are staying busy relative to the market,” Ullmann said.

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FHA loan Loans Loan Officer Mortgages 437

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home.

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VA loan Loans Mortgages Lending 430

Housing Wire

JANUARY 24, 2024

Limited housing supply and a continuation of high home prices in many markets nationwide in 2023 restricted many first-time homebuyers from entering the housing market and finding their dream homes. The Mortgage Bankers Association predicts that the average rate on 30-year mortgages could be 6.1% by the end of 2024.

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Title Loans Mortgages Industrial 428

The Mortgage Report

DECEMBER 21, 2021

Everything you should know about FHA vs. VA loans: Pros, cons, requirements, and advice for home buyers.

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VA loan Loans Mortgages 120

Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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FHA loan Finance Loans Agents 365

Housing Wire

MARCH 7, 2024

Home sellers looking to maximize their sale price may want to avoid the start of the busy spring buying season and list their properties closer to the midpoint of the year, according to a Zillow analysis released Thursday. more than at other times of the year, equating to an additional $7,700 on the typical U.S.

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Sales Mortgages Loans Marketing 379

Housing Wire

NOVEMBER 10, 2023

home purchases, compared to 29.5% Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. High mortgage rates are exacerbating inequality between people who own homes and people who don’t,” Redfin Senior Economist Sheharyar Bokhari said. a year ago, according to a Redfin report.

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FHA loan VA loan Mortgages Loans 418

Housing Wire

NOVEMBER 20, 2023

The Sitzer/Burnett trial out of Kansas City found the National Association of Realtors (NAR) guilty of conspiring to inflate agent commissions — sparking a debate over agent commission fees and the longstanding role of buyer agents in real estate transactions. But what happens if consumers pivot away from buyer agents altogether?

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Pre-approval Agents Loan Officer Seller concession 386

Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Asian borrowers pay $13 less than non-Hispanic white borrowers (the control group); low-income borrowers pay $14 more; and first-time home buyers pay $11 less than repeat buyers.

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Title Closing costs Loans Title search 393

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. Generally, the Fed will adjust its lending rate by a quarter percent, but at times the adjustment has been larger.

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Fixed-rate mortgage Agents Marketing Lending 426

The Mortgage Report

MARCH 18, 2021

USDA vs FHA for first-time buyers: Should you use a zero-down USDA loan or 3.5%-down down FHA loan? Compare pros and cons here.

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Loans FHA loan Mortgages 111

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 442

VA loan Agents Seller concession FHA loan 442

Housing Wire

OCTOBER 16, 2023

In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. It’s true that first-time buyers make up a larger piece of a smaller pie, as housing inventory shrinks.

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Agents Seller concession Closing costs Mortgages 387

Housing Wire

SEPTEMBER 15, 2023

Our way of honoring first responders is by educating our podcast listeners, readers and coaching clients in the real estate industry about how to help those who helped all of us and are still being of service every day. We all owe a debt of gratitude to those who have our backs in times of need.

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VA loan Loans Mortgages Closing costs 390

Housing Wire

SEPTEMBER 22, 2023

However, a silver lining in the subdued housing market is the strength in new-home sales. Builders are providing rate buy-downs for first-time homebuyers, which aligns with their interests, Duncan explained. If that business flow for a time period helps them cover the variable costs, then it can be effective.

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FHA loan Bankruptcy Marketing Loans 424

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. Really struggling.

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Loan Officer Mortgages Fixed-rate mortgage Loans 405

Housing Wire

SEPTEMBER 14, 2023

Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 6.02% a year ago at this time. 14, up from last week ’s 7.12%.

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Mortgages Fixed-rate mortgage Investor MLS 422

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. It’s not an investment.”. This is what we do in America.

Loans 543

Loans Banks Equity Closing costs 543

Housing Wire

OCTOBER 27, 2023

Admittedly, the myriad of documents requiring signatures can be overwhelming, especially for first-time homebuyers. One of the most important roles we play at ALTA is strongly encouraging buyers to shop around for their title insurance company. It’s important the buyer asks how the closing/settlement will be handled.

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Title Title search Land Closing 493

Housing Wire

FEBRUARY 8, 2024

And HousingWire’s Mortgage Rates Center showed that Polly ’s average 30-year fixed rate for conventional loans was 6.91% on Thursday, down from 6.95% at the same time last week. But prospective buyers expect rates to decline further this year, which is fueling optimism.

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Mortgages Fixed-rate mortgage Marketing Loans 395

Housing Wire

APRIL 1, 2024

While many proptech companies have struggled to adapt to the slower housing market conditions and challenging venture capital environment, Flyhomes is viewing this as a time to grow. The new channel gave partnered lenders and mortgage brokers access to Flyhome products, including “buy before you sell” and short-term bridge loan products.

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Loan Officer Loans Mortgages Equity 348

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “We

Loan Officer 388

Loan Officer Mortgages Loans Closing costs 388

Housing Wire

DECEMBER 14, 2023

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.

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Lending Mortgages VA loan Finance 392