Housing Wire

SEPTEMBER 21, 2020

Millions of homeowners still have a sizeable incentive to refinance, given the difference between the rate on their current loan and available market rates. That is why homeowners, in the aggregate, have gained more than $10 trillion in home equity over the past decade. Just how busy have lenders been?

FHA loan 542

FHA loan Loans VA loan Mortgages 542

HomeLight

JANUARY 30, 2024

As a homeowner facing life changes or new opportunities, you may be considering the benefits of refinancing your mortgage loan. Or maybe you just want to shorten your loan term. Refinancing your house means replacing your existing mortgage with a new loan, typically with different terms and interest rates.

Mortgages 110

Mortgages Closing costs Equity VA loan 110

RIS Media

AUGUST 10, 2021

By increasing access to banking, credit-building opportunities and, ultimately, home financing, more Detroit residents will be able to build equity through homeownership, which increases neighborhood stability and opportunity for future generations.” “Today, we are doubling down on that commitment.

Mortgages 98

Mortgages VA loan Equity Banks 98

Housing Wire

DECEMBER 30, 2020

Crucially, on March 23 Federal Reserve Chairman Jerome Powell announced the central bank would make “unlimited” MBS purchases, pushing the average 30-year fixed mortgage back down to 3.5% However, inventory is struggling to keep up with demand (lenders are too; some lenders can’t close loans in under two months). bond market.

Mortgages 545

Mortgages Loans VA loan Investor 545

Housing Wire

SEPTEMBER 12, 2023

These current mortgage markets are what make it challenging for independent mortgage banks (IMBs). Mortgage loan volume in the second quarter of 2023 was down 56% from the same period last year, according to ATTOM. During this crisis, many savings and loans failed, and the federal government stepped in to bail out the industry.

Banks 397

Banks Mortgages Loans Investor 397

McKissock

FEBRUARY 13, 2023

What’s going on with the VA? 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.

VA loan 85

VA loan Principal Development Title 85

Realty Biz

JULY 20, 2022

For some buyers, there might even be a no down payment home loan available. One of the reasons FHA mortgages are so popular is their lower credit scoring requirements than other loan programs. These mortgage companies were created by Congress to make sure home loans were more easily available to qualified home buyers.

Loans 129

Loans FHA loan VA loan Equity 129

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. The down payment is showing the bank that you’re putting some skin in the game,” says Helali. Every time a bank provides somebody with a loan, the bank’s essentially investing in that person.”.

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FHA loan VA loan Loans Loan Officer 104

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available. It's essential to grasp how 1099 income affects mortgage loans and what lenders look for when determining eligibility for home financing.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70

Lighter Side of Real Estate

SEPTEMBER 20, 2023

For example, if the mortgage you assume is $400,000, you’d have to pay them $4,000, which isn’t bad considering the savings you’ll reap over the life of the loan. When you find one you want to buy, have your agent ask the seller’s agent if the owner has an assumable loan, and if they’d be agreeable to letting you assume theirs.

Mortgages 86

Mortgages VA loan Loans Banks 86

McKissock

FEBRUARY 13, 2023

What’s going on with the VA? 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.

VA loan 52

VA loan Principal Development Title 52

Redfin

JULY 11, 2023

A mortgage is a loan specifically designed for purchasing a property, commonly a home. In the event that the borrower fails to repay the loan, the lender has the right to take possession of the property through a legal process known as foreclosure. What is a mortgage? How does a mortgage work? How is a mortgage rate determined?

Pre-approval 59

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

Realtor.com

DECEMBER 14, 2022

Many loans have caps on how high a borrower’s future payments can rise. And if mortgage interest rates fall, as expected over the next few years, borrowers could wind up saving money by choosing one of these loans. However, borrowers on tight budgets can save some money with these loans—at least initially.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

Many loans have caps on how high a borrower’s future payments can rise. And if mortgage interest rates fall, as expected over the next few years, borrowers could wind up saving money by choosing one of these loans. However, borrowers on tight budgets can save some money with these loans—at least initially.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

JULY 31, 2020

One note: During riskier loan environments, such as during a recession, lenders will often protect themselves by increasing the standards required to get a mortgage loan. Conventional loans were more likely to have a 20% down payment, and VA loans averaged just 2% down. When 20% is the way to go.

Debt-to-income ratio 88

Debt-to-income ratio Loans Equity VA loan 88

Redfin

NOVEMBER 18, 2020

In short, a mortgage is a loan from a lending institution to cover a home’s purchase. In short, a mortgage is a loan from a lending institution to cover a home’s purchase. The bank or lending institution holds the note for the house as collateral for the loan.

Mortgages 70

Mortgages Principal Fixed-rate mortgage Loans 70

HomeLight

AUGUST 31, 2021

Monthly mortgage payments offer built-in savings through equity gains. If you use a fixed-rate mortgage, your principal and interest will remain the same throughout the life of the loan, though your property taxes and subsequent homeowner’s insurance can increase over time. Source: (Towfiqu barbhuiya / Unsplash).

Closing costs 93

Closing costs Loans Equity VA loan 93

HomeLight

APRIL 20, 2023

If you fail to factor them into your homebuying budget, you could walk out of closing with the keys to your new house and an emptier bank account than you’d planned on! While some fees are only a few hundred dollars, the final closing costs can run into the thousands. What are closing costs? Closing costs are fees related to buying a house.

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Closing costs Closing Inspection Loans 96

Redfin

APRIL 7, 2023

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. Work with that loan officer and their agent to understand what timeframes they’re comfortable with in an offer. This way you’ll know exactly how much house you can afford.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 58

Windemere Buying

NOVEMBER 11, 2020

VA loans provide a path toward homeownership for active service and veteran personnel and their families. The following serves as a guide to understanding what they are, who they are available to, and what types of loans are available to them. What Are VA Loans? How Do VA Loans work?

VA loan 52

VA loan Loans Purchase and sale agreement Closing costs 52

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

HomeLight

AUGUST 16, 2021

Are you open to doing some sweat equity in the beginning?” Painting walls and replacing floors can add instant equity to your home — but these jobs require hard work, and they’re not for the buyer who wants a flawless, move-in ready abode. ”), then you may need to back up a step or five. How do you know where to begin?

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

HomeLight

JUNE 28, 2021

FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores. The brief answer is that these government-owned homes become available anytime a purchaser defaults on an FHA-insured loan, sending the property into foreclosure. What is HUD?

Pre-approval 104

Pre-approval Pre-qualification FHA loan Inspection 104

HomeLight

SEPTEMBER 30, 2020

Evaluate your home loan options and your down payment. How much you need for the home purchase can greatly depend on the type of loan you get. How much you need for the home purchase can greatly depend on the type of loan you get. For example, an FHA loan only requires a 3.5% Those benchmarks are as follows: 20s: $10,500.

FHA loan 98

FHA loan Loans VA loan Mortgages 98

HomeLight

MAY 31, 2021

In fact, buying your own home builds up equity that you can use in the future, and properties generally increase in value over time, which makes homeownership a smart long-term investment. This is especially true if you’re planning to pay off your mortgage earlier than your loan term. Source: (Windows / Unsplash). Set a clear goal. “I

Mortgages 63

Mortgages Principal Loans VA loan 63

HomeLight

MAY 23, 2022

Looking to sell a house “as is” in Wisconsin? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. Sell 'As Is' With a Cash Offer. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Request Cash Offer.

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As-is Inspection Investor Closing costs 113

Housing Wire

OCTOBER 24, 2022

And while depository banks that are fueling that growth, concern is mounting over Ginnie Mae MSRs held by nonbanks. The 10 offerings together involve Fannie Mae , Freddie Mac and Ginnie Mae loan pools valued collectively at $12.77 Over the first nine months of this year, banks have far outstripped nonbanks in buying up MSR packages.

Principal 315

Principal Banks Loans Mortgages 315

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. These are things you just might not know as a buyer — but your agent and loan officer can give you guidance!

Mortgages 68

Mortgages Debt-to-income ratio Loans Closing costs 68

HomeLight

JANUARY 27, 2021

So understand that unless you’ve been earning 1099 income for more than two years, it may not help you qualify for a home loan. Here’s what you need to know before buying a home. Source: (Seemi Samuel / Unsplash). Hiring an agent. Hiring an agent is a big deal. Here’s how to find the right fit. First things first: Don’t skip hiring an agent!

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

AUGUST 24, 2022

Looking to sell a house “as is” in Connecticut? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. However, selling a house “as is” usually means accepting a lower offer and it doesn’t always prevent buyers from trying to negotiate savings. Disclosures.

As-is 108

As-is Inspection Investor Closing costs 108

HomeLight

MARCH 28, 2022

According to the National Association of Realtors®, homeowners usually stay in their homes for 13 years , which is plenty of time to build equity before selling. It’s likely cheaper than renting, even if you’re not staying long enough to build much equity. If you’re planning on using a VA loan, how does that impact affordability ?

VA loan 98

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

HomeLight

APRIL 29, 2022

Selling your Washington home “as is”? Whether you’ve got a fixer-upper or recently inherited a relative’s home, you’ve likely decided that the goal is to skip repairs, get a fair offer, and move on. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds. Disclosures.

As-is 86

As-is Purchase and sale agreement Investor Inspection 86

Calculated Risk Real Estate

FEBRUARY 6, 2024

During the housing bubble, many of the low credit score loans were made through the private-labeled securities market. • Foreclosure starts decreased -17.9% in December to 24K, equal to 5.2% • Foreclosure starts decreased -17.9% in December to 24K, equal to 5.2% • Foreclosure starts decreased -17.9%

Mortgages 115

Mortgages Marketing Lending VA loan 115

HomeLight

AUGUST 9, 2022

We’ll get into loan specifics later, but to give you some actual numbers to make sense of everything for the moment, consider this: While 20% has long been touted as the so-called ideal amount , it takes significant savings to afford putting this much down payment on a home — and it’s certainly not the norm for first-time buyers.

Earnest money deposit 107

Earnest money deposit VA loan Purchase and sale agreement FHA loan 107

HomeLight

JUNE 22, 2023

You would add up all of your monthly debt payments, such as auto loans, mortgage payments, minimum payments on credit cards, student loan payments and installment debts,” explains Marcus Rittman from HomeLight Home Loans. What do you think is the most stressful (and confusing) part of buying a house?

Debt-to-income ratio 97

Debt-to-income ratio Mortgages FHA loan Loans 97

HomeLight

JUNE 30, 2021

A zero-down-payment mortgage is a home loan that you can get without putting any money down — but only for specific loan types, and not every buyer and home will qualify. There are loan programs that allow you to put down much less than that — as little as 3% or even no down payment! Source: (Thought Catalog / Unsplash).

VA loan 74

VA loan FHA loan Mortgages Closing costs 74

Realtor.com

DECEMBER 7, 2022

And if you’re a homeowner, you can expect prices to rise, which gives you more equity in your home.”. Department of Veterans Affairs loans. The VA loans are attractive because borrowers don’t have to put any money down to buy and can often score lower mortgage interest rates as well. El Paso, TX.

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VA loan Marketing Sales Loans 104