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

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 107

Equity Debt-to-income ratio Loans Closing costs 107

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 Closing costs 544

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 421

Backup offer Loan Officer Home sale contingency Branding 421

Realty Biz

AUGUST 16, 2023

Home equity loans are a popular option for homeowners who want to tap into the equity they've built up in their homes. Understanding home equity loans and their associated interest rates is critical for making informed financial decisions. As you pay down your mortgage and your home's value increases, your home equity grows.

Equity 72

Equity Loans Debt-to-income ratio Closing costs 72

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 81

Equity Loans Closing costs Mortgages 81

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 104

Equity Finance Loans Closing costs 104

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 397

Loan Officer Mortgages Loans Closing costs 397

Realty Biz

JULY 12, 2023

They allow homeowners to convert the equity they’ve built on their home into cash without selling the home. There are a few types of reverse mortgage programs, but one of the most popular is the Home Equity Conversion Mortgage (HECM). The first major requirement is equity.

Equity 76

Equity Mortgages Loans Finance 76

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 Finance 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 410

Agents Seller concession Closing costs Mortgages 410

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 397

Agents Loan Officer Lending MLS 397

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

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 458

Mortgages Loans Closing costs Industrial 458

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

Realty Biz

AUGUST 12, 2023

Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases. Closing Costs : Fees and other costs that need to be paid when closing on a house.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Fixed-rate mortgage 97

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

Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? The list of potential obstacles across the Black housing journey — it’s long,” said Katrina Jones, Fannie Mae’s vice president of racial equity strategy and impact. “The

Equity 421

Equity Lending Closing costs Development 421

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

Realty Biz

FEBRUARY 27, 2023

This is a major benefit for anyone taking advantage of FHA programs to make homeownership more accessible, especially while the real estate market is in such a volatile place after nearly 12 months of near-constant base interest rate hikes that have driven up the cost of lending across the board.

Lending 102

Lending Equity Finance Mortgages 102

Realtor.com

MARCH 12, 2021

Lenders consider credit history, income and home equity when evaluating applications. Consider how many months it would take for you to recoup the costs of closing on a refi, along with how long you’ll be staying at this home. What if closing costs are too high? How will the equity in my house affect the situation?

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Kyle Handy

MAY 5, 2023

In this post, I’ll do a complete analysis and breakdown of the expenses, cash flow profit, and amount of equity for each of my three rental properties, which I’ve owned for three to four years. Cash-Out Refinance You can take out a cash-out refinance when your home’s value or the equity you have in it increases.

Hard money loan 92

Hard money loan Property Management Equity Closing costs 92

Redfin

DECEMBER 15, 2023

While this might sound like a small difference, it can translate into substantial savings over time including lower monthly payments, paying off the mortgage quicker, and even allowing homeowners to tap into their home equity for other expenses. Typically, the longer you’ve lived in your home, the more equity you have.

Fixed-rate mortgage 68

Fixed-rate mortgage Mortgages Title search Equity 68

Housing Wire

MARCH 2, 2021

Historically low interest rates in 2020 led to an all-time high in mortgage lending for new loans, but with forbearance moratorium deadlines being extended, some lenders are getting nervous. Now, more than ever, the mortgage and real estate industries require efficient, cost-effective and reliable due diligence solutions.

Title 363

Title Lending Due diligence Title search 363

HomeLight

JANUARY 23, 2023

In other words, although your home’s current market value may be higher than ever — boosting that equity you may be looking to liquidate — it may not be as easy to sell as it would have been a mere six months or one year ago. Cashing out equity in your home If you’re looking to access equity, a cash-out refinance will let you do just that.

Mortgages 103

Mortgages Fixed-rate mortgage Equity Loans 103

Lighter Side of Real Estate

DECEMBER 28, 2023

According to Lending Tree , 31% of Americans still believe they need that much of a down payment in order to buy a house. Doing so will get you on your way to building equity through paying down your mortgage, and benefitting from any increases in value the market creates, or that you generate by improving the property.

Loans 97

Loans Closing costs Lending Mortgages 97

HomeLight

DECEMBER 28, 2023

However, the person assuming the loan must meet the FHA’s lending criteria. Negotiate with the seller: If the property is being sold, negotiate with the seller regarding any equity in the home. Pay assumption and closing fees: Be prepared to cover various fees associated with loan assumption and property transfer.

Loans 105

Loans Purchase and sale agreement VA loan Mortgages 105

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

Real Trends

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 99

Agents Seller concession Closing costs Mortgages 99

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.” “One The second reason we come across is speed and convenience.

As-is 96

As-is Inspection Equity Renovation 96

Point2Homes

MARCH 17, 2021

This is an essential figure to understand, as it is the basis from which lenders will calculate the amount they’re willing to lend you. This can reduce monthly payments considerably and enable you to gain more equity quicker. Moving costs. However, down payments over 20% aren’t subject to mortgage insurance.

Mortgages 98

Mortgages Closing costs Loans Renovation 98

Realty Biz

MARCH 15, 2023

Unless property prices have risen significantly in that time, your equity will be less than the cost of buying and selling the property. They are as follows: Your Savings Buying a home means you need the money for the down payment, the closing costs, moving costs, and more.

Debt-to-income ratio 112

Debt-to-income ratio Fixed-rate mortgage Mortgages Loans 112

HomeLight

AUGUST 16, 2021

Some savings you can use toward a down payment and closing costs? 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. she prompts.

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

Redfin

JULY 11, 2023

Once the borrower’s equity reaches 20%, PMI can be canceled. Technological advancements have greatly simplified the document submission process for borrowers in the mortgage industry,” shares Ron Haddad Lending Team. What are closing costs? What documents are typically required for a mortgage application?

Pre-approval 59

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

Redfin

JUNE 11, 2021

By providing an estimate of the fair market value of your home, the appraisal assures the lender they are not lending more money for a piece of property than it’s actually worth. You could also offer to make up the difference by bringing any additional amount needed to closing. Some closing costs are tax-deductible.

Inspection 84

Inspection Closing costs Equity Closing 84

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 104

Equity Loans Debt-to-income ratio Home sale contingency 104

Realty Biz

FEBRUARY 19, 2024

The parcels that dragged my portfolio down were the ones where I just thought “Oh that’s great discount for this piece of property, I know I’m buying it with equity, I’ll just list it for full market value and see who comes along.” Banks, credit unions, and specialized lending companies offer land loans.

Land 126

Land Due diligence Title search Finance 126