RIS Media

MAY 19, 2021

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

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HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ?

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Housing Wire

FEBRUARY 22, 2024

When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions.

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Realty Biz

FEBRUARY 28, 2023

Thanks to HUD’s FHA loan policies, homeownership is more accessible to many Americans because lenders are given less financial risk when offering loans to buyers. FHA Loan Eligibility FHA loans are a great option for purchasing a house without spending much money upfront.

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Real Trends

NOVEMBER 11, 2022

FHA loans aim to make homeownership possible for borrowers with less-than-perfect credit and without a large down payment requirement. Backed by the Federal Housing Administration, FHA loans have more competitive interest rates, something that could be key for buyers in today’s market. appeared first on RealTrends.

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Housing Wire

SEPTEMBER 15, 2023

Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) VA loans are not well understood by many Realtors. When you really know the benefits, you’ll be more of an advocate of these loans both on your buyer sides as well as when you’re a listing agent considering accepting a VA loan.

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Realty Biz

APRIL 8, 2024

Contact an experienced Buyer’s Agent when you first think of buying a house. What Are Closing Costs? Answer: Closing costs are fees for finalizing the mortgage, including appraisal fees, title insurance, and more. They typically range from 1% to 3% of the loan amount. What Happens at Closing?

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HomeLight

SEPTEMBER 2, 2021

Here, we’ll walk you through one of the best-known and most widely utilized tools that can help get you those keys: the FHA loan. Read on for more about these loans, the down payment assistance programs associated with them, and some different down payment assistance programs to consider when you buy your first home.

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Realty Biz

FEBRUARY 1, 2024

Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. Typical uses include closing costs, prepaid items, and even repairs or upgrades to the property. For example, closing costs, prepaid items, and repairs or upgrades.

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HomeLight

DECEMBER 28, 2023

In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. Partner With a Top Agent Familiar With Assumable Mortgage Listings HomeLight can connect you with a top-performing real estate agent who understands the ins and outs of assumable mortgage listings in your market.

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Realty Biz

MARCH 13, 2024

Get a comparative market analysis from your real estate agent to determine fair value pricing for the neighborhood. Schedule your final walkthrough inspection 1-2 days before closing to allow addressing any concerns if the condition changed. Review closing documents and costs ahead of time so there are no questions later.

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Lab Coat Agents

MAY 1, 2024

VA loan assumptions offer a fantastic opportunity for your clients to save thousands on their mortgage in a rising interest rate environment. What is a VA Loan Assumption? This can result in additional monthly savings compared to conventional or FHA loans with small down payments.

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VA loan Loans Debt-to-income ratio FHA loan 52

RIS Media

OCTOBER 29, 2020

Closing Costs. Many of these will need to be paid at closing. Sometimes sellers are willing to help with closing costs to make things easier for the buyer. The costs don’t end once you’ve bought the home; you still need to pay to move in. There are numerous benefits to FHA loans.

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Realtor.com

DECEMBER 20, 2021

Ask your agent. Real estate agents don’t typically deal with the loan process. But most agents know lenders who have experience helping borrowers who don’t have a lot of cash for a down payment. an agent with Century 21 Envision in Upper Marlboro, MD. for an FHA loan.

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Redfin

OCTOBER 27, 2020

VA loans are great for those who are looking for a loan with no down payment and limited closing costs. However, there may be instances where other loan options are a better fit. FHA loans are especially geared toward first-time homebuyers. In this case, an FHA loan is a great option.

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The Residential Specialist

OCTOBER 24, 2022

As the real estate market shifts, expert agents share what the industry will look like heading into 2023. Although the market has cooled down in some regions, agents and experts across the country don’t foresee a crash or drastic downturn in 2023. What agents should expect in 2023 is that things will slow down in terms of time.

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Realty Biz

FEBRUARY 7, 2023

You must purchase in a rural area to qualify for a USDA loan. FHA loans are very popular, especially for first-time home buyers. The FHA loan offers a low down payment requirement of 3.5%. They also have relaxed credit score requirements compared to other loans.

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HomeLight

OCTOBER 22, 2021

Many real estate agents prefer that you have at least a pre-qualification number before you begin your home search. How much can I afford with a Federal Housing Authority (FHA) loan? “The whole point of FHA is to make it easier for folks to qualify for homes,” says Richard Helali, mortgage sales leader at HomeLight.

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HomeLight

DECEMBER 30, 2021

We’re breaking down some of the most common questions about first-time home buyer loans with expert help from Richie Helali, a HomeLight Home Loans mortgage specialist. You’ll also need to pay for mortgage insurance (MI) when using an FHA loan, which further protects the lender if you stop making payments on the loan.

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Redfin

APRIL 7, 2023

To help you get started, we turned to some of Redfin’s top Partner Agents in San Diego to help you navigate the process with confidence. Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 59

Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. Unlike conventional or FHA loans, micromortgages are 100% financed, which means there’s no down payment required.

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HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

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Realtor.com

FEBRUARY 3, 2021

If you’re a potential home buyer and you qualify for a conventional loan, you still need thousands of dollars in cash for a down payment, closing costs , and other expenses. Unlike conventional or FHA loans, micromortgages are 100% financed, which means there’s no down payment required.

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HomeLight

AUGUST 31, 2020

For example, both conventional and FHA loans offer first-time buyers the opportunity to purchase a home with only 3% down (conventional) or 3.5% down (FHA). Don’t forget to do your research and ask plenty of questions when talking to lenders and your real estate agent about local and state first-time buyer programs.

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HomeLight

JUNE 15, 2023

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Step one: Talk to a few buyer's agents!

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HomeLight

AUGUST 16, 2021

We’ve rounded up expert advice from all across our Buyer Resource Center and enlisted the help of top Massachusetts agent Rosemary Mancuso to walk us through what first-time buyers need to buy a house. Some savings you can use toward a down payment and closing costs? Estimate your down payment and closing costs.

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HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Sometimes you’ll even find grants to help you with closing costs and down payments. Your real estate agent is another great resource for help!). Sound great? Sure it does!

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Realty Biz

MARCH 22, 2022

But the bigger fact is that almost everyone (including those taking out a conventional loan) qualifies for a mortgage with much less than a 20% down payment. Popular first time mortgage programs are FHA, VA, and USDA loans – not conventional loans. You can get some VA loans for 0% down and most FHA loans start at 3.5%

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HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. We tapped the expertise of top Illinois real estate agent Jen Ortman , who walked us through some of her best advice for buyers. Hiring an agent. Hiring an agent is a big deal.

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HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? 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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The Close

APRIL 28, 2022

Luckily, beating a cash offer on a house is not as hard as many agents think. Many listing agents today will not review the offers for three to four days after the property becomes active. Some buyer’s agents believe the best strategy is to wait until the last minute before submitting an offer. Offer a Signing Bonus.

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HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Michigan? 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.

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Redfin

JUNE 29, 2023

Pre-approval involves a lender evaluating your financial situation, credit history, and income to determine the loan amount you qualify for. Connect with a local agent in Michigan When buying a house, connecting with a local real estate agent in Michigan is essential, as they bring valuable expertise, guidance, and local market knowledge.

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HomeLight

JANUARY 22, 2024

Matt Megel , managing partner with CAZA Group , which sells homes 85% faster than the average Virginia agent, says that unlocking their home’s equity on a budget is one of the main drivers for homeowners wanting to sell their property “as is.” “One Your agent should also be willing to go the extra mile on marketing.

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HomeLight

DECEMBER 31, 2023

According to John Billings , a top-selling agent in Pima County, Arizona, with nearly 20 years of experience, one of the most common reasons is that owners don’t want to (or can’t) deal with making extensive repairs. No, however, this is commonly mentioned in the Agent Remarks field Is a real estate attorney required?

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HomeLight

AUGUST 29, 2022

Another plus is that Texas doesn’t have state income tax, according to Rach Potter, who sells homes 44% quicker than the average agent in Dallas, Texas. FHA Loans usually require a minimum down payment of 3.5% — so if you purchase a house for $325,000, expect to put down at least $11,375 with this type of loan.

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