Housing Wire

JANUARY 17, 2024

The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). And after years of advertisements and TV commercials promoting the benefits of better-known reverse mortgage loan uses like continuing to live in your current home while tapping your home equity, 4 who could blame them?

Finance 419

Finance Seller concession Loan Officer Loans 419

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. Specifically, title and settlement fees have been characterized as a high-burden and regressive (costing proportionally more for low- and moderate-income borrowers) cost to borrowers.

Title 389

Title Closing costs Loans Title search 389

Housing Wire

AUGUST 10, 2023

Mortgage , and/or Closing Cost Credit. For eligible borrowers at or below 80% AMI, the mortgage program allows a 3% down payment on a fixed-rate mortgage and the closing cost credit program provides up to $5,000 to use toward closing costs. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 369

Fixed-rate mortgage Closing costs Lending Banks 369

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. Buy before you sell (BBYS) products may be the answer.

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Backup offer Loan Officer Home sale contingency Branding 355

Housing Wire

FEBRUARY 12, 2024

This is why it’s more important than ever for independent mortgage brokers across the country to establish themselves as an expert and trusted advisor in the mortgage industry. Do they need to tap into their equity to pay off other debts? Are they interested in buying, but worried about down payment and closing costs?

Mortgages 401

Mortgages Loans Closing costs Industrial 401

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.

Loan Officer 375

Loan Officer Equity Finance Loans 375

Housing Wire

APRIL 26, 2023

Bridge loans are popular among his clients since they allow homeowners to tap into their equity when buying a home, as well as a professional mortgage where buyers in a specific industry can make a 10% down payment without mortgage insurance, Parkinson explained. What we’re seeing is just increased competition over every deal.

Loan Officer 386

Loan Officer Mortgages Loans Closing costs 386

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

Equity 100

Equity Finance Loans Closing costs 100

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. With interest rates now at 14-year highs, the cost of homeownership is becoming an issue for most prospective home buyers.

Loans 369

Loans Mortgages Land Finance 369

Housing Wire

NOVEMBER 21, 2022

The housing industry is at an unprecedented moment in time. This deficit greatly exacerbates the challenge of bringing equity to homeownership, particularly for low-to-moderate income (LMI) home buyers who are disproportionately people of color. trillion in mortgage origination volume in 2022. and Columbus, Ohio.

Finance 339

Finance Design Equity Construction 339

Housing Wire

MAY 8, 2023

Department of Housing and Urban Development ( HUD ) , that 200,000 represented close to 20% of all single-family homes supplied to the market in 2019. I pay the closing costs for veterans, first responders and educators to help expand homeownership among these groups,” said George Russell, a Texas-based Auction.com buyer.

Renovation 371

Renovation Equity Mortgages Closing costs 371

Housing Wire

MARCH 2, 2021

Add the fact that lenders are not only dealing with a remote workforce these days, which is an operational challenge in itself, they are also facing a major shortage of qualified appraisers, underwriters and other operational staff in certain markets, which could cause even longer closing delays.

Title 241

Title Lending Due diligence Title search 241

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. million, two-year partnership with the Urban Institute to create a racial equity accelerator program. “There is currently legislation pending that would increase it (above the 10% level).

Banks 326

Banks Loans Equity Finance 326

Housing Wire

SEPTEMBER 7, 2023

But three multibillion-dollar class action antitrust lawsuits looming over the real estate industry may soon reshape how buyers interact with agents. For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. The lender and LO can make or break the transaction.”

Agents 374

Agents Loan Officer Lending MLS 374

Marco Santarelli

MAY 11, 2024

Home Equity Softening, Not Disappearing The report highlights a slight decrease in the percentage of homes considered “equity-rich,” where the loan value is less than half the estimated market value. This signifies that homeowners, by and large, still hold a healthy level of equity in their properties.

Mortgages 102

Mortgages Marketing Equity Pre-approval 102

HomeLight

DECEMBER 10, 2021

First, you save on the cost of sprucing up your home. To find out what affects offer prices when selling a house as is, we rounded up this select group of industry pros for insider answers: Wisconsin-based real estate agent Kim Batterman , who has more than 15 years of industry experience. Selling a home “as is” has its perks.

As-is 87

As-is Purchase and sale agreement Investor Closing costs 87

Marco Santarelli

MAY 30, 2024

This program is a testament to UWM's commitment to supporting independent mortgage brokers with industry-leading training, technology, and service. The Community Affordable Loan Solution is a program designed to provide a bank-provided down payment and cover closing costs for eligible buyers.

Equity 52

Equity Banks Loans Mortgages 52

Housing Wire

DECEMBER 7, 2020

The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. With home equity accounting for a quarter of total U.S. With home equity accounting for a quarter of total U.S. A growing need for down payment assistance. of the average home price.

FHA loan 481

FHA loan Debt-to-income ratio Loans Equity 481

Norada Real Estate

MAY 30, 2024

This program is a testament to UWM's commitment to supporting independent mortgage brokers with industry-leading training, technology, and service. The Community Affordable Loan Solution is a program designed to provide a bank-provided down payment and cover closing costs for eligible buyers.

Mortgages 52

Mortgages Equity Banks Loans 52

Housing Wire

DECEMBER 19, 2022

Every lender has taken a hit this year , with the $4 trillion mortgage industry in 2021 cratering to an estimated $1.7 At stake is the title of the country’s largest mortgage originator, and proving its strategy of branding itself as a fintech, which would enable Rocket to reach a bigger audience beyond the mortgage industry.

Mortgages 377

Mortgages Loans Finance Industrial 377

Housing Wire

NOVEMBER 13, 2020

Eventually, you purchased your first house, maybe got a home equity line of credit. And while there is no legal limit on how many times a mortgage may be refinanced, closing costs and interest rate cycles effectively limit the number of times any given homeowner will pursue this option. Mortgage data is aged data.

Banks 478

Banks Loans Technology Mortgages 478

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Rates are rising. Refinances are falling. Inventory is contracting. Application fallouts are worsening. It’s getting harder out there. We’re not cavepeople.

Lending 294

Lending Marketing Pre-qualification Pre-approval 294

Realty Biz

JUNE 29, 2021

Housing industry experts have been pretty vocal about the benefits of refinancing a mortgage lately, saying homeowners can benefit from current low interest rates to save potentially hundreds of dollars a month on their loan repayments. Fannie Mae and Freddie Mac data shows that U.S. From 2005 to 2008, that comprised 78% of all refinances.

Equity 107

Equity Loans Closing costs Renovation 107

Realty Biz

SEPTEMBER 3, 2023

Understand the Industry's Needs for Marketing The real estate industry has a long and intertwined connection with good marketing. So, if you want to work in this industry, you have to understand the role content creation plays. Breaking into the real estate field as a marketing professional requires specific skills.

Marketing 106

Marketing Industrial Closing costs Design 106

Real Trends

MAY 9, 2023

Be an advocate for local broker marketplaces and how the way commissions are paid create competitive, efficient markets for small businesses and ensure equity, transparency and market-driven pricing for home buyers and sellers. Advocate for local broker marketplaces Local MLS broker marketplaces create accessibility and ensure equity.

MLS 94

MLS VA loan Equity Agents 94

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. Homeowners may refinance to secure a lower interest rate, change their loan terms, or, as in this case, tap into their home equity.

Fixed-rate mortgage 60

Fixed-rate mortgage Equity Debt-to-income ratio Loans 60

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

Marco Santarelli

JUNE 25, 2021

Investing in real estate refers to any property owned solely for the purpose of generating profit, either through rental income or through market value appreciation. There is no such thing as no money down in real estate because the money has to come from some source. Investing in real estate is a tried and tested way of building wealth.

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Purchase and sale agreement Hard money loan Equity Investor 133

Broke Agent Media

MAY 16, 2023

Only 43% of postponers have at least 50% equity in their homes, while 53% of active movers have 50% or more. Higher equity and greater wealth overall gives buyers and sellers more flexibility for moving, not to mention the ability to make more competitive offers. Source: Opendoor Across the U.S.,

Marketing 98

Marketing Purchase and sale agreement Construction Equity 98

Realty Biz

MARCH 30, 2023

Having a firm understanding of how much you can afford to spend on a mortgage and the associated costs that come with owning a home will do wonders in helping you find the best potential rates. To get the best rate for your situation, be sure to look closely at each type of mortgage. How Has Inflation Disrupted the Housing Industry?

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

HomeLight

SEPTEMBER 9, 2021

A tidal wave of demand was met with a sorry amount of housing supply as a result of material costs, supply chain disruptions, and years of chronic underbuilding in the new construction industry. Updated September 9, 2021. Moving is a big deal, and the decision of whether to sell your house now or wait is rarely an easy one.

Equity 135

Equity Mortgages Agents Sales 135

Real Trends

NOVEMBER 7, 2022

So, if you have home improvement loans, home equity loans, home equity lines of credit (HELOCs) or refinanced mortgages, you can deduct interest paid on up to $375,000 of the total debt or $750,000 for couples filing jointly. Here are nine ways buying, owning and selling a home cuts taxes and improves your overall finances.

Fixed-rate mortgage 92

Fixed-rate mortgage Agents Equity Principal 92

RIS Media

MARCH 28, 2022

Affordability is a huge issue—maybe the biggest and most urgent facing the housing industry today. Most analyses and data use the flat cost of housing to calculate affordability. And even the smallest household in the most affordable county in the U.S. would need at least $18,000 to cover their non-housing expenses.”.

Land 95

Land Equity Loans Closing costs 95

Real Trends

MARCH 9, 2022

While title insurance may be less understood by homebuyers, who may see it as just another fee involved in the closing process, it’s important for them to understand the many benefits title insurance provides and the dangers that can be incurred without it. This insurance is a one-time fee paid upfront during the closing process.

Title 107

Title Title search Land Closing 107

HomeLight

MARCH 31, 2022

As housing prices skyrocket, many homeowners are considering ways to turn their growing home equity into cash. If you’re one of the 6 million Americans projected to sell a home this year, you may be trying to figure out exactly how much of that increasing equity will end up in your pocket after all is said and done. Agent commission.

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Closing Purchase and sale agreement Title Title search 100

HomeLight

JUNE 22, 2023

Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. What do you think is the most stressful (and confusing) part of buying a house? Would you say it’s trying to find the right real estate agent ? Maybe it’s the task of looking at house after house until you find the one.

Debt-to-income ratio 85

Debt-to-income ratio Mortgages FHA loan Loans 85

RIS Media

APRIL 16, 2021

The industry has been eagerly awaiting further details about President Joe Biden’s proposed first-time homebuyer tax credit—which originally featured a max of $15,000 per buyer toward their down payment on a home. Assistance can go toward a down payment or the closing costs, or to reduce the interest rate on a mortgage.

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Short sale Closing costs Development Equity 102