Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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%

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Maximum Exposure Real Estate

NOVEMBER 28, 2023

Are you wondering about the VA loan inspection requirements? There are appraisal and inspection guidelines that VA inspectors must follow. Did you know that the homes you’re looking at might not be acceptable to some lenders? It’s true.

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Housing Wire

DECEMBER 13, 2023

The UWM’s discounted rates apply to the FHA Streamline program, which offers a simplified refinance process with reduced documentation requirements on Federal Housing Administration (FHA) loans. ” Top wholesale lenders have launched new initiatives to boost production at the end of 2023.

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Housing Wire

MAY 25, 2022

The VA also expects to overhaul its procedure on appraisals following the mid-May introduction of legislation in the Senate aimed at streamlining the appraisal process for VA loans. The legislation would remove a stipulation requiring all VA appraisals to be performed in-house.

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Housing Wire

FEBRUARY 6, 2024

The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. It reaffirmed that servicers must process assumptions and can be barred from the VA loan program if they don’t comply.

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Mortgages VA loan Loans Closing 451

Housing Wire

MARCH 5, 2024

Typically, the fees are lower than those for new loans and no appraisal is needed. Department of Veterans Affairs (VA) handled about 6,400 assumptions, more than double the amount in 2022, according to The Wall Street Journal. trillion in FHA and VA loans. Raunaq Singh About $8.5

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Maximum Exposure Real Estate

MARCH 12, 2023

What Are VA Loan Home Inspection Requirements Are you wondering about the VA loan inspection requirements? There are appraisal and inspection guidelines that VA inspectors must follow. Did you know that the homes you’re looking at might not be acceptable to some lenders? It’s true.

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Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan. Backed by the U.S.

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Housing Wire

DECEMBER 14, 2023

The letter states that the CHLA believes this shift could have “profound negative impact on the ability of home buyers to pay for or finance those commissions and on loan appraisal loan to value (LTV) calculations and requirements.” Under current regulations, VA buyers are not allowed to pay for buyer’s representation.

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Lending Mortgages VA loan Finance 421

Housing Wire

JULY 12, 2022

The VA also faces challenges unrelated to the pandemic. The perception of VA loans as risky and logistically complicated — even if an outdated view — continues to impact the competitiveness of the borrowers it serves. But the VA is hoping to change that. Is this a positive development for the VA?

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McKissock

FEBRUARY 13, 2023

McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros Real Estate Solutions. Sign up now.

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Housing Wire

MARCH 1, 2021

Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks.

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Mortgages VA loan Loans Loan Officer 432

HomeLight

AUGUST 26, 2020

Now you’re confused because you need a refinance appraisal, but you just got a purchase appraisal before being approved for a mortgage — is there a difference between a refinance appraisal vs. purchase appraisal? Refinance appraisal vs. purchase appraisal: What’s the difference? What do appraisers look for?

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Realty Biz

FEBRUARY 24, 2024

While many veterans are familiar with traditional VA home loans, there are additional options that cater to specific needs – VA Jumbo Loans and VA Construction Loans. Competitive Interest Rates: While the loan amount is higher, VA Jumbo Loans maintain the attractive feature of competitive interest rates.

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Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

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McKissock

FEBRUARY 13, 2023

McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Current Topics with the VA,” featuring a discussion with James Heaslet, Chief Appraiser for the Department of Veterans Affairs and Jeffrey Hogan, Vice-President at Veros Real Estate Solutions. View Pro-Series webinars.

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VA loan Principal Development Title 52

McKissock

DECEMBER 15, 2020

A VA loan permits an eligible veteran to borrow up to 103.3% The VA uses state-licensed or state-certified appraisers to provide opinions of value for the homes on which it guarantees the mortgages. In order to complete a VA appraisal , you must be on the VA panel. Appraiser selection.

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Housing Wire

MAY 26, 2021

ICE found that conventional loans comprised 81% of originations in April, while FHA loans were 10% and VA loans were just 6%. Purchase mortgages on average took 49 days to close in April.

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Closing Mortgages VA loan FHA loan 450

Housing Wire

JANUARY 26, 2022

For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans. Refinancing is also not an option.

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Mortgages VA loan Pre-approval Lending 368

Real Trends

SEPTEMBER 15, 2023

The Good Neighbor Next Door Program allows someone who qualifies to purchase a home for 50% of the appraised value based on where the house is located. This service record may qualify for a Veteran Affairs (VA) loan. VA loans are not well understood by many Realtors. VA loans have no down payment requirement.

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HomeLight

NOVEMBER 1, 2021

If you’ve received an exceptional offer on your home and the appraisal comes in unexpectedly low , don’t throw in the towel. The official appraised value of your home is based on the appraiser’s professional opinion and even professionals sometimes make mistakes. If your home appraisal has come in low, you’re not alone.

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HomeLight

AUGUST 20, 2021

Typically within a week after you’ve had the house inspected, you’ll most likely have to endure a home appraisal , a professional assessment of your home’s value. Bidding wars enabled buyers to offer over asking price for houses, which, in some cases, resulted in low appraisals threatening the deal.

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Housing Wire

FEBRUARY 7, 2023

It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed.

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HomeLight

MAY 17, 2021

Typically, when we talk about keeping track of a home appraisal , the seller has more ability to stay on top of what’s happening. Sellers have done research on the market before they set a home price, and because it’s their house, reading the appraisal results won’t take as much hand-holding from the agent. But what about the buyers?

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CT Homes

APRIL 4, 2024

Appraisal : Scheduled immediately after the inspection period, the appraisal process can take 1-2 weeks for the lender to review and approve. Conventional loans might sail through quicker than FHA or VA loans, which have more stringent inspection and appraisal requirements.

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Closing Pre-approval Inspection VA loan 55

Housing Wire

SEPTEMBER 13, 2023

It allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than with new loans, and no appraisal is needed.

Mortgages 431

Mortgages Loans Banks Investor 431

Rent, Buy & Sell

FEBRUARY 7, 2021

Instead, they guarantee the loan by approving and insuring banks and lending institutions. With FHA backing, these loans are more attractive to banks as they come with less risk than a traditional mortgage. VA loans are for veterans, service members, military spouses and other people associated with the military.

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Loans VA loan FHA loan Hard money loan 98

HomeLight

JANUARY 30, 2024

Go through the home appraisal process: Lenders will require an appraisal to determine the current value of your home. Close on the new loan: If approved, you’ll go through a closing process similar to when you first obtained your original mortgage. Such loans may let you skip the credit check or appraisal.

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Mortgages Closing costs Equity VA loan 107

Norada Real Estate

APRIL 15, 2023

Additionally, the type of financing being used, such as FHA or VA loans, can also impact the length of the under-contract period. However, if the buyer encounters financing issues, such as a low appraisal or loan denial, the under-contract period can be extended while they work to resolve the issue.

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RIS Media

MAY 19, 2021

Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Lender Fee.

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Closing costs Closing VA loan Pre-approval 111

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Consider alternative mortgage options: If traditional mortgages don't work out, explore alternative options such as FHA loans, VA loans, or USDA loans.

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Finance Debt-to-income ratio FHA loan Mortgages 98

Redfin

OCTOBER 27, 2020

A mortgage that requires $0 down, VA loans are a competitive and affordable way for veterans laying down roots to save. VA loans are perfect for veteran first-time homebuyers who do not have enough money for a down payment. Funding fees are required with VA loans, which are not generally included in standard mortgages.

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Housing Wire

APRIL 7, 2021

For purchase mortgage applications, bidding wars and appraisal gaps are discouraging some buyers from looking at existing homes, while high costs for lumber and building materials are pushing up the price of new homes. The refinance index decreased 5% from the previous week and was 20% lower than the same week one year ago.

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Fixed-rate mortgage Mortgages Loans Industrial 369

Housing Wire

NOVEMBER 19, 2021

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to high demand for appraisals. The VA said it had taken note of increased market demand in a “seller’s market,” in a notice explaining the increases. “As

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C4D Crew

JANUARY 13, 2022

Most loans require at least a 3.5% If you’re a veteran who qualifies for a VA loan, you might not have to put any money down at all. . Getting a Loan. When you’re ready to apply for a loan, make sure you get pre-approved first. Getting an Appraisal. You can put down as little as 3.5%. .

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Loans Closing Pre-approval VA loan 52

HomeLight

FEBRUARY 12, 2021

The Conventional 97 loan allows buyers to put down as little as 3%, though it requires them to have a credit score in the mid- to high-600s — higher than the FHA loan’s minimum score of 580. USDA and VA loans both go as low as zero down. The appraisal process for FHA loans is stricter.

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FHA loan Loans Pre-approval Pre-qualification 109

HomeLight

SEPTEMBER 21, 2020

But almost all cash buyers prefer to purchase homes off-market and because they don’t need financing (or an appraisal to appease the lender), can offer a streamlined experience for sellers. Market your transferable VA Loan Terms. Anyone can assume the VA loan, not just a military member.

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