HomeLight

JANUARY 10, 2024

Central to this is the concept of building home equity, which can significantly improve your financial future. Whether you’re a first-time buyer, a seasoned homeowner, or simply curious about the financial perks of owning a home, understanding equity is key. Get Estimate What is home equity? How does home equity work?

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Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

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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.” Looking to sell a house “as is” in Virginia? Skip repairs and close in as few as 10 days.

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Housing Wire

DECEMBER 16, 2022

Potential buyers who may have had an FHA or VA loan were left behind as about one-quarter of the market was paying all cash for homes. Homeowners have gained housing equity in their homes consistently as home prices have risen. The typical owner who has owned their home a decade has $210,000 in housing equity.

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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?

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RIS Media

MAY 23, 2024

At a Mortgage Bankers Association (MBA) conference last week, executives… The post Mortgage Mix: FHA Requiring ‘Cyber Incident’ Reports; Homeowner Equity Hits New Record appeared first on RISMedia. Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings.

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Housing Wire

MARCH 28, 2024

Now we are hiring seasoned purchase loan officers with experience in nurturing customers in a higher rate environment,” Garg said. “We Further, the seasoned loan officers are providing an increased level of service to consumers that enable us to improve revenue for loans while remaining market competitive.”

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Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Considering other loans require anywhere from 3% to 10% down at minimum, this can mean serious savings from the start. Streamline refinances (if you have an FHA or VA loan). 15-year mortgages.

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HomeLight

JANUARY 22, 2024

There are several reasons, which can range from a sudden change in circumstances, to the seller needing to access the equity in their home without making repairs. There are several reasons, which can range from a sudden change in circumstances, to the seller needing to access the equity in their home without making repairs. “It’s

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Housing Wire

NOVEMBER 7, 2023

This implies easing inflation next year, and mortgage rates near 6% would help affordability issues caused by two things: The inflation fight has fueled the mortgage rate spike Low inventory and a steady job market have put a floor on home prices The good news is that GSEs remain committed to loan approval guidelines that help in these tough cycles.

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Debt-to-income ratio Mortgages VA loan Loans 351

Housing Wire

OCTOBER 21, 2022

Of those Issuers already compliant with RBCR, many have ample equity capital to support the acquisition of MSRs that may come on the market.”. As of September, the 30-day delinquency rate for FHA loans stood at 3.77%, up from 3.02% as of the beginning of the year, according to data from Recursion. The state of the U.S. As of Sept.

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Housing Wire

AUGUST 26, 2022

HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market. Equity can be used for any number of purposes, including home improvements. Lee Smith: Definitely. Non-QM products are more expansive.

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Mortgages VA loan Loans Technology 334

Housing Wire

MAY 26, 2021

Joe Tyrrell, ICE president, said the recent findings align with the company’s 2020 Borrower and Lender Insights Survey, which noted that digital mortgage technologies are making closing a mortgage loan “faster and easier.” Purchase mortgages on average took 49 days to close in April.

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Housing Wire

MAY 15, 2023

The data, published on Monday, shows that older vintage mortgages (loans originated before 2010) accounted for under 9% of the total refinanced during the Covid-19 refi boom. Nine million borrowers refinanced their loans without equity extraction, with an aggregate decrease of $24 billion annually.

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HomeLight

JULY 25, 2022

Looking to sell a house “as is” in Florida? 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. Because the market is competitive and it’s so common, it’s just assumed most properties are being sold “as is,’” she says. Need to Sell Your Florida Home Fast?

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Housing Wire

MARCH 30, 2023

It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? Many people predicted that the U.S.

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Real Trends

NOVEMBER 11, 2022

“With housing affordability at an all-time low and interest rates on the climb, it’s important that homeowners have alternative options to access their home equity without selling or taking on additional debt,” said Michael Gifford, CEO of Splitero , a financial technology company that helps homeowners access home equity. . USDA loans.

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HomeLight

AUGUST 12, 2022

Looking to sell a house “as is” in Illinois? 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. If a seller or an agent lists the property “as is” then the label can carry implications. They anticipate getting a great offer or multiple offers on their homes.

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HomeLight

AUGUST 12, 2022

Looking to sell a house “as is” in California? 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.

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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?

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Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. FHA and VA guidelines during Chapter 13 Bankruptcy is almost the same. We will cover and discuss qualifying for an FHA and/or VA loan during Chapter 13 Bankruptcy.

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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. It’s not just about helping someone else pay off their loan; it’s about making their loan and the benefits of their homeownership yours. What types of loans are assumable?

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Loans Purchase and sale agreement VA loan Mortgages 97

Housing Wire

SEPTEMBER 22, 2023

For existing homeowners, that’s good news because it means equity accumulation. With the majority of Fed officials expecting another rate hike by year-end, Duncan predicts a 50/50 chance of that happening, depending on how resilient the economy is against the Fed’s monetary policy. Are you optimistic this trend will continue?

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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.

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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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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%

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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. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

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Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

AUGUST 7, 2023

Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market. Credit and loan-to-value ratios are fairly easy to determine for most people, but evaluating income is where judgment is sometimes involved.

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Housing Wire

DECEMBER 3, 2020

I work with first-time buyers throughout the county, and the majority of my clients are military and using their VA loans, so they don’t have a lot of liquidity,” said Alanna Strei, a California-based Realtor who said she has a “backlog” of first-time buyers looking to get into a home.

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HomeLight

JULY 31, 2022

Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan.

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Marco Santarelli

OCTOBER 6, 2023

However, certain programs like FHA loans and VA loans allow for lower credit scores. FHA loans can accept a credit score as low as 500 with a higher down payment, while VA loans often require a credit score of 580. VA Loan: VA loans are exclusively available to veterans and service members.

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VA loan FHA loan Pre-qualification Debt-to-income ratio 52

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.

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Mortgages Closing costs Equity VA loan 94

Point2Homes

DECEMBER 15, 2021

An assumable mortgage is a financial agreement in which a homebuyer takes over, or assumes, the seller’s outstanding mortgage balance and its terms when buying a home , rather than taking out their own loan. Or you can assume your partner’s mortgage in case of a divorce if your name is listed on the house title but not on the initial loan.

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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.

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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 ?

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VA loan Loans Debt-to-income ratio Closing costs 82

Housing Wire

SEPTEMBER 12, 2023

Mortgage loan volume in the second quarter of 2023 was down 56% from the same period last year, according to ATTOM. The fate of the specialist when the market shifts The independent mortgage banks most of us think of when someone mentions IMBs originated as a result of the Savings and Loan Crisis of the 1980s.

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Realtor.com

NOVEMBER 9, 2022

iStock Can you hand off a home loan from one person to another? Most loans aren’t transferable, and the reason for this is that they have a “due on sale” clause, explains Chris Combs , founder of Combs Law Group. That means that when the property is sold, the entirety of the loan comes due.

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Mortgages VA loan FHA loan Loans 98