Housing Wire

JUNE 8, 2022

Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “A Earlier this year, the Department of Housing and Urban Development pointedly told lenders that the programs do not violate fair lending law.

Equity 370

Equity Finance Loans Development 370

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. If they lost their job, they have a lot of equity in their home, and most likely their financials have gotten better over time.

Loans 544

Loans Banks Equity Bankruptcy 544

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. These credits can lead to fair lending violations.

Closing costs 475

Closing costs Development Equity Closing 475

Housing Wire

JULY 5, 2023

Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. The company’s management team implemented this policy, the complaint alleges, because refinancing can come with high closing costs that range between $5,000 and $10,000 dollars.

Mortgages 370

Mortgages Closing costs Lending Closing 370

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

Banks 440

Banks Closing costs Lending Equity 440

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. Certner cited fair lending concerns and the potential of undue borrower influence.

Mortgages 427

Mortgages Closing costs Equity Construction 427

Housing Wire

FEBRUARY 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. These companies buy a consumer’s current house with cash so the consumer can use the equity they’ve accrued right away.

Backup offer 430

Backup offer Loan Officer Home sale contingency Branding 430

Housing Wire

AUGUST 21, 2023

5000 list an impressive five times: Total Expert , which offers CRM and data-driven customer engagement solutions, turning customer insights into actions to increase loyalty and drive growth; and FirstClose , a tech solution provider for HELOC and home equity lenders. 658 in the 2023 Inc. Other established names to make the Inc.

Equity 370

Equity Technology Investor Residential 370

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. The Federal Home Loan Bank System was created in 1932 by the Federal Home Loan Bank Act as a government-sponsored enterprise to support mortgage lending. We are trying to figure out how to address this.”

Banks 370

Banks Loans Equity Development 370

Housing Wire

JULY 2, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% Equity takeout” loans — reverse mortgages that are neither purchases nor refinances — dropped by 4.8% Purchase is one we’re watching closely with the recently implemented tweak to closing costs that we expect to open that door more fully.

Mortgages 417

Mortgages Equity Loans Loan Officer 417

Housing Wire

APRIL 26, 2023

This is honestly where good loan officers can really separate themselves,” Josh Burruss, executive vice president and chief lending officer of Intercoastal Mortgage , said. That’s why builders are utilizing closing cost incentives and temporary rate buydowns often funded by lenders. “If

Loan Officer 403

Loan Officer Mortgages Loans Closing costs 403

Housing Wire

SEPTEMBER 21, 2022

Scott Betley is a loan officer for NFM Lending with more than 10 years of experience helping first-time home buyers and move-up buyers. Like how you don’t need perfect credit or a down payment to buy and start building equity for your family.”. Jordan Nutter’s bio describes her account as “subpar humor with a side of homebuying.”

Loan Officer 370

Loan Officer Loans Branding Mortgages 370

Housing Wire

OCTOBER 16, 2023

Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. Nicole Rueth, Branch Manager and SVP of national mortgage lending company The Rueth Team , recently demonstrated it best. The win, essentially, is the strategy.

Agents 417

Agents Seller concession Closing costs Mortgages 417

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. Finding reliable lending partners takes time and some trial and error, but once established is often the lifeblood of LOs. Bank Home Mortgage and Planet Home Lending declined to comment.

Agents 403

Agents Loan Officer Lending Loans 403

Housing Wire

FEBRUARY 12, 2024

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? It’s up to you to shift their mindset from just the rate to the overall financial goal for their mortgage. Are they looking to save money on a monthly basis?

Mortgages 468

Mortgages Loans Closing costs Industrial 468

HomeLight

SEPTEMBER 16, 2024

As a result, you might be sitting on a significant amount of home equity, and you’re not alone — U.S. homeowners collectively hold around $32 trillion in equity. If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?”

Equity 111

Equity Loans Loan Officer Lending 111

Seattle Times Real Estate

JUNE 25, 2025

Washington lawmakers created the Covenant Homeownership Program in 2023, offering zero-interest loans to cover down payments and closing costs for certain first-time homebuyers of color who meet income and other requirements. To pay for the home itself, buyers must qualify for a primary mortgage under typical lending standards.

Technology 142

Technology Finance Loans Closing costs 142

HomeLight

NOVEMBER 21, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Imagine it as a short-term lending solution that taps into the equity of your current home.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

The Mortgage Report

JUNE 10, 2025

Not just the affordability of the house itself, but with closing costs rising, etc., Jessie Jackson , senior vice president at Cornerstone Home Lending : Always ask for it as an option. Even if you have all of your money for your down payment and your closing costs. Over 2,000 DPA programs exist across the U.S.

FHA 203k rehab loan 57

FHA 203k rehab loan VA loan FHA loan Pre-qualification 57

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 105

Equity Finance Loans Closing costs 105

HomeLight

JANUARY 29, 2024

When a homeowner needs fast access to cash for a life change or opportunity, their first thought may be to tap into their equity. But what if you can’t afford to make additional monthly payments on a traditional home equity loan, or your credit score won’t qualify for a cash-out refinance or line of credit? homeowners. homeowners.

Equity 89

Equity Debt-to-income ratio Loans Closing costs 89

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs.

Purchase and sale agreement 105

Purchase and sale agreement Property Management Hard money loan Renovation 105

Realtor.com

FEBRUARY 11, 2021

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. But that doesn’t mean buying is always the best choice—as a renter, you enjoy more flexibility and avoid many of the costs that come with homeownership. Can you afford the closing costs?

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

Realtor.com

APRIL 12, 2021

Getty Images Homeowners with a mortgage often hear about the benefits of refinancing—to snag a lower interest rate, reduce their monthly loan payments, and tap into their home equity. So on a $250,000 home, your closing costs may run anywhere from $5,000 to $17,500. Have you built enough equity to refinance?

Loans 128

Loans Equity Closing costs Mortgages 128

HomeLight

MARCH 31, 2023

The bridge lender will lend the buyer the equity they have built in their existing house so they can move forward with the purchase of a new home. So in the past few years, I think it’s pretty easy [for borrowers to qualify] because of the equity spike. When might I need a bridge loan in California?

Equity 104

Equity Loans Debt-to-income ratio Finance 104

HomeLight

JULY 25, 2024

If you’re a homeowner planning to buy and sell at the same time , we’ll also detail some viable options to make the most of your home’s equity. This article will explain the basics of hard money lending in Cleveland, helping you determine if this approach suits your investing or home-buying plans.

Hard money loan 115

Hard money loan Loans Home sale contingency Lending 115

Realty Biz

MAY 3, 2023

While you might have tens of thousands or even hundreds of thousands of dollars worth of equity built up in the value of your property, it’s often difficult to access that equity without selling the property. What is a home equity line of credit (HELOC)? HELOC Versus Second Mortgage: Which Is Better?

Equity 83

Equity Loans Closing costs Mortgages 83

Realtor.com

OCTOBER 29, 2020

If you’re a homeowner, you have options that involve tapping into your home equity —the difference between what your home is worth and how much you owe on your mortgage. There are three main ways to tap into home equity, but sorting through those options can be confusing. The costs can range from 2% to 5% of your loan amount.

Equity 76

Equity Loans Closing costs Principal 76

HomeLight

JULY 19, 2024

If you’re not a real estate investor but need to bridge the timing gap between buying and selling a home, we’ll share some alternatives to help you leverage your home’s equity. This article will guide you through the basics of hard money lending in Minnesota, helping you decide if a hard money lender is the right fit for you.

Hard money loan 111

Hard money loan Home sale contingency Loans Equity 111

HomeLight

JULY 26, 2024

This guide will walk you through the basics of hard money lending in South Carolina, from understanding what these loans are to exploring their common uses and associated costs. They typically lend a percentage of the ARV, ensuring the investment is secure and potentially profitable.

Hard money loan 111

Hard money loan Home sale contingency Loans Finance 111

HomeLight

JULY 26, 2024

If you’re not a real estate investor but need to bridge the timing gap between buying and selling a home, we’ll explore alternative options that allow you to leverage your home equity. This article will guide you through the essentials of hard money lending in NY, helping you determine if this type of loan suits your real estate needs.

Loans 111

Loans Hard money loan Home sale contingency Lending 111

HomeLight

JULY 18, 2024

If you’re not a real estate investor but need to bridge the timing gap between buying and selling a home, we’ll share some alternatives to help you leverage your home’s equity. They typically lend a percentage of the ARV to ensure the investment’s profitability and security. Learn More What is a hard money lender?

Hard money loan 111

Hard money loan Loans Home sale contingency Lending 111

HomeLight

JULY 25, 2024

If you’re not a real estate investor but need to bridge the timing gap between buying and selling a home , we’ll share some alternatives to help you make the most of your home equity. They typically lend a portion of the ARV to secure their investment. Learn More What is a hard money lender?

Hard money loan 109

Hard money loan Home sale contingency Loans Finance 109

The Mortgage Report

JUNE 23, 2025

With retail lending, the company funding the loan also handles the application and any customer interactions. Reduced up-front fees: Many wholesale lenders charge lower origination or lender fees, reducing your total closing costs. The bottom line: Is wholesale mortgage lending right for you?

FHA 203k rehab loan 40

FHA 203k rehab loan Mortgages VA loan FHA loan 40

HomeLight

JULY 18, 2024

In this article, we’ll explore the ins and outs of hard money lending in Philadelphia, from understanding the basics to evaluating costs and alternatives. They lend a percentage of this ARV to safeguard their investment. Additional costs include origination fees, closing costs, and points.

Hard money loan 116

Hard money loan Loans Home sale contingency Lending 116

HomeLight

JULY 6, 2024

This comprehensive guide will walk you through the basics of hard money lending in Sacramento, from how these loans function to their various uses and costs. We’ll also discuss alternative financing options for homeowners hoping to leverage their equity, helping you find the best path to achieve your real estate goals.

Hard money loan 115

Hard money loan Home sale contingency Finance Loans 115