Housing Wire

APRIL 30, 2024

AARP concerns “FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” HUD said in its update to the policy. Certner cited fair lending concerns and the potential of undue borrower influence.

Mortgages 438

Mortgages Closing costs Equity Construction 438

Housing Wire

FEBRUARY 16, 2024

As an example, the DOJ cites Northwest MLS (NWMLS), which no longer requires listing agents to make offers of buyer broker compensation in order to list a property. Despite this being allowed, the practice of cooperative compensation continues and agent commissions have not changed.

MLS 451

MLS Lending Closing costs Agents 451

Housing Wire

FEBRUARY 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. This model is still expensive for homeowners because they are paying duplicate closing costs and leaseback fees.

Backup offer 440

Backup offer Loan Officer Home sale contingency Branding 440

Housing Wire

FEBRUARY 1, 2023

“The streamlined process and certainty One-Time Close New Construction loans offer is unmatched and will set brokers up to be the hero with builders, real estate agents and contractors, and get their borrowers in their dream home,” Mat Ishbia , president and CEO of UWM, said in a statement.

Construction 411

Construction Loans Loan Officer New Construction 411

Housing Wire

APRIL 26, 2023

This is honestly where good loan officers can really separate themselves,” Josh Burruss, executive vice president and chief lending officer of Intercoastal Mortgage , said. It’s a small amount but it’s nice to have products where you can get a real estate agent’s attention with a product that another lender doesn’t have.

Loan Officer 411

Loan Officer Mortgages Loans Closing costs 411

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. David Smith is the VP of National VA Lending at loanDepot. Department of Veteran Affairs , which is issued and serviced by authorized lenders.

Loans 461

Loans VA loan Mortgages Lending 461

HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Buyer’s agent fee (~3%).

Closing costs 111

Closing costs Closing Title Title search 111

Housing Wire

JUNE 12, 2024

The top advantages of the VA loan were ”competitive interest rates” and ”the ability to reuse the VA loan benefit,” followed by its zero-down payment feature, funding fee exemptions and limits on closing costs. On Tuesday, the VA announced that will it implement temporary rules to allow buyer-paid broker fees.

VA loan 459

VA loan Loans As-is Mortgages 459

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.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Housing Wire

AUGUST 21, 2023

469 LoanStar Technologies 1,241% 2016 Enabling lenders to connect and lend to customers who are traditionally underbanked or unbanked. 678 TriusLending 869% 2003 A mid-Atlantic real estate investment firm and financing lender focused on short-term private lending and long-term rental loans. Other established names to make the Inc.

Equity 370

Equity Technology Investor Residential 370

Housing Wire

APRIL 12, 2023

Other challenges selected by mortgage professionals were relationships with real estate agents at 8.4%; competitiveness of rate sheet and underwriting problems at 5.8%; lender stability at 3.9%; competitiveness of product offerings at 1.9%. Lead generation ranked as the third biggest hurdle at 15.5%

Mortgages 410

Mortgages Loan Officer Marketing Seller concession 410

Inman

FEBRUARY 19, 2025

RocketRentRewards lets homebuyers earn closing cost credits equal to 10 percent of their verified rent payments over the past year, or $2,160 for those paying the average $1,800 in rent.

Closing 142

Closing Closing costs Banks Lending 142

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?

Closing costs 104

Closing costs Closing Purchase and sale agreement Title search 104

Housing Wire

OCTOBER 9, 2023

Campbell is now something of a JV guru, having completed over 80 joint ventures with real estate or lending firms. Accordingly, the real-estate agents could be deemed to be ‘covered persons,’ subject to the CFPA.” Things went wrong more often when using unfamiliar title and escrow companies, Campbell and his business partners reasoned.

Title 461

Title Brokerage Investor Closing 461

Housing Wire

JUNE 13, 2022

From Multiple Listing Services (MLS) to consumer-facing giants like Zillow , Realtor.com and Redfin , the real estate industry is raising awareness about homebuyer assistance programs through agent education and self-service tools that help consumers find programs they qualify for. Rob Chrane, Founder and CEO, Down Payment Resource.

Finance 370

Finance Loans Closing Closing costs 370

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!

Closing costs 98

Closing costs Closing Title Inspection 98

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs. Visit Zillow 7.

Purchase and sale agreement 105

Purchase and sale agreement Property Management Hard money loan Investor 105

The Residential Specialist

MAY 3, 2022

Banks and lending participants are using hidden and confusing fees to defraud your clients. Junk fees are itemized charges tacked on to the closing cost by the lender. The remaining charges are called junk fees and appear on closing statements under many names. What are junk fees? Why are junk fees so confusing?

Lending 97

Lending Closing costs Loans Banks 97

Real Trends

OCTOBER 16, 2023

Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. I’ll explain later.)

Agents 105

Agents Seller concession Closing costs Mortgages 105

Realty Biz

AUGUST 27, 2022

In response to today’s pricey economy, Micheal “Mike” Price (Mortgage License #244007, Real Estate Salesperson License #720851), Owner and President of LTI Mortgage, now offers “The Hybrid Agent Program” to save buyers and investors lots of money. Starting immediately, “The Hybrid Agent” is taking on new clients.

Agents 78

Agents Mortgages Closing costs Finance 78

HomeLight

JULY 31, 2022

One of the first steps is to pick a real estate agent to work with. But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Well, welcome to your step-by-step guide to buying a home without a real estate agent. You’ve decided it’s time to buy a house ! Find a lender you can trust. Find a home.

Earnest money deposit 110

Earnest money deposit Agents Purchase and sale agreement Title 110

The Close

SEPTEMBER 26, 2024

How Agents and Investors Use Math in Real Estate Math is essential for agents working with clients, aspiring agents studying for their licensing exams, and investors aiming to make wise decisions. Gross Rent Multiplier In the real estate exam math portion, aspiring agents might need to calculate the gross rent multiplier.

Investor 75

Investor Agents Closing costs Renovation 75

HomeLight

MAY 26, 2021

Chiquita Pittman is an experienced agent in New Jersey who works with 7 more townhomes and 21 more condos each year than the average agent in her area. She says that through combining state programs and with the seller paying closing costs, she had one buyer who “only had to bring $3,500 to the table.”.

Debt-to-income ratio 111

Debt-to-income ratio Closing costs VA loan Loans 111

HomeLight

JUNE 21, 2023

Some of these programs, such as Homes for Heroes , are nationwide and encompass both lending benefits and other discounts and reimbursements. Baird has worked with clients using CELP, which has covered about 30% of the buyers’ closing costs — savings they’ve used for appliances, replacing flooring, and other expenses.

Loans 98

Loans Debt-to-income ratio FHA loan Closing costs 98

HomeLight

AUGUST 31, 2021

A mortgage broker is a liaison that helps coordinate a loan between a lending institution and a prospective borrower. Brokers don’t provide or lend any funds themselves, but use their expertise and resources to connect buyers to lending institutions offering loans that meet their specific needs. What is a mortgage broker?

Mortgages 97

Mortgages Closing costs Loans Banks 97

HomeLight

MARCH 31, 2022

Potential homebuyers will need to budget for a down payment, closing costs, monthly mortgage payment, and that doesn’t even include the cost of utilities. Buyers concerned that these types of programs might hurt their chances of beating out offers or working with certain real estate agents shouldn’t worry.

Closing costs 104

Closing costs Loans Closing Debt-to-income ratio 104

HomeLight

NOVEMBER 20, 2023

Assuming an existing mortgage can also save you on closing costs,” says Eric Broesamle , a top Michigan real estate agent who works with nearly 75% more single-family homes than the average agent in his Mount Clemens market. Get Started What is an assumable mortgage?

FHA loan 115

FHA loan Mortgages VA loan Loans 115

The Close

DECEMBER 5, 2024

Your real estate agent and the lender will break down your closing costs in a closing disclosure form. Closing costs can range from 2% to 6% of the purchase price. However, a conservative rule of thumb to calculate your closing costs is to estimate about 5% of the property’s purchase price.

House Flipping 98

House Flipping Renovation Closing costs Hard money loan 98

HomeLight

JULY 26, 2022

But this sign looks different from the real estate agent signs you usually see and it lists the homeowner’s contact information. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. You’ve found yourself a FSBO home. What is a FSBO home?

Earnest money deposit 115

Earnest money deposit Purchase and sale agreement Title Inspection 115

HomeLight

AUGUST 12, 2022

While the company has independently owned and operated locations all over the United States, corporate headquarters in Texas lend to a specialty in the state’s localities and specific markets. Closing costs: Sellers pay no closing costs; We Buy Houses ® covers them. Individual investor fees may vary.

Closing costs 98

Closing costs Purchase and sale agreement Closing Staging 98

Realty Biz

JULY 31, 2023

Cash for the down payment, cash for closing costs, cash for repairs, cash for operating reserves. The higher the risk of the borrower defaulting, the more the lender must charge to justify the risk, and the less money they’ll lend against the same collateral. But you then need to renovate the property, which costs money.

Seller concession 82

Seller concession Renovation Closing costs Equity 82

HomeLight

JUNE 22, 2023

Would you say it’s trying to find the right real estate agent ? Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. Why must there be so many lending companies, all of which have different requirements and terms? And they need answers to their mortgage questions.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

OCTOBER 11, 2021

The FHA sets loan limits, or maximum lending amounts. Lindsey Chaney is an experienced agent in Troy , Ohio, who works with 69% more single-family homes than other agents in her area. Will you be using down payment or closing cost assistance? How much house can you afford if you’re getting an FHA loan?

FHA loan 104

FHA loan Loans Debt-to-income ratio Closing costs 104

Realty Biz

JUNE 10, 2024

From down payments to closing costs, understanding where your money goes is crucial. Once your financials are in check, it’s time to find a real estate agent. A good agent will help you navigate the maze of listings and negotiate on your behalf, ensuring you snag the best deal possible. This is where the magic happens.

Pre-approval 88

Pre-approval Closing costs Inspection Agents 88

HomeLight

DECEMBER 2, 2021

We detail what costs you’re likely to incur and what sellers pay on average. Kentucky-based Dianna Caldwell , a seasoned agent with 16 years of industry experience under her belt, gave us a rundown of seller costs and what homeowners should budget before they sit down to the closing table. Real estate agent commission.

Seller concession 122

Seller concession Staging Inspection Renovation 122

HomeLight

JANUARY 23, 2023

Top agents surveyed by HomeLight say it’s no longer a seller’s market. To get expert insight into today’s changing market, we spoke to David Lewis , a top real estate agent in the Atlanta, Georgia, suburbs. Lewis sells homes more than 42% faster than the average agent in his area. Doing so increases the LTV ratio.

Mortgages 105

Mortgages Fixed-rate mortgage Equity Loans 105

HomeLight

OCTOBER 2, 2020

The pandemic increased the potential risk of lending, which translated to more overlays, or requirements designed to protect lenders for riskier loans. You may pay higher closing costs. Yep, closing costs do vary. If they do, that could add up to higher closing costs.

Closing 97

Closing Mortgages Loans Closing costs 97