Housing Wire

NOVEMBER 7, 2023

Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. “But agent commissions have never been a closing cost from a buyer perspective.

VA loan 447

VA loan Agents Seller concession FHA loan 447

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. For real estate professionals, this option presents an opportunity to capture more sales.

Finance 437

Finance Seller concession Loan Officer Loans 437

HomeLight

OCTOBER 30, 2020

However, as the Department of Housing and Urban Development (HUD) mentions in its guidelines to avoiding foreclosure : “Foreclosure doesn’t happen overnight.” It costs money to sell a house. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs.

Short sale 104

Short sale Banks Equity Mortgages 104

HomeLight

AUGUST 25, 2020

If you have a mortgage on your home, your housing payment will be the same every month — but in the first couple of years, the vast majority of that overall payment will likely go toward interest and will barely touch the principal balance. The longer you stay in the home, the greater portion of the monthly payment goes toward the principal.

Principal 68

Principal Equity Seller concession Title 68