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 Mortgage industry stakeholders, including the Mortgage Bankers Association , have also pushed for the adoption of special purpose credit programs.

Equity 342

Equity Finance Loans Development 342

Housing Wire

FEBRUARY 12, 2024

Where should mortgage rates be before I buy or refinance my home? These are just a few of the questions independent mortgage brokers get asked on a daily basis. 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.

Mortgages 431

Mortgages Loans Closing costs Industrial 431

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officer 392

Loan Officer Mortgages Loans Closing costs 392

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. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies.

Backup offer 388

Backup offer Loan Officer Home sale contingency Branding 388

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 543

Loans Banks Equity Closing costs 543

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 103

Mortgages Marketing Equity Pre-approval 103

Realty Biz

JULY 12, 2023

As the cost of living rises, retirees should seek out ways to supplement their retirement income. A reverse mortgage program is one such income option for homeowners approaching retirement. They allow homeowners to convert the equity they’ve built on their home into cash without selling the home.

Equity 76

Equity Mortgages Loans Finance 76

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 102

Equity Debt-to-income ratio Loans Closing costs 102

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 400

Agents Seller concession Closing costs Mortgages 400

Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Housing Wire

SEPTEMBER 21, 2022

As more of these younger borrowers begin to show interest in buying a home, it’s a great idea to use TikTok not only as a way to connect with prospective borrowers, but to educate them on mortgage as well. 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.

Loan Officer 370

Loan Officer Loans Branding Mortgages 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. In May, Sen.

Banks 354

Banks Loans Equity Finance 354

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. “You’ve The lender and LO can make or break the transaction.”

Agents 389

Agents Loan Officer Lending MLS 389

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

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. With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty.

Equity 102

Equity Finance Loans Closing costs 102

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

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 99

Loans Purchase and sale agreement VA loan Mortgages 99

Realtor.com

MARCH 12, 2021

Getty Images Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but didn’t get around to it yet. First find the difference between your current mortgage rate and the potential savings of a refinance offer. What if closing costs are too high?

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

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. Home equity loan. Cash-out refinance.

Equity 76

Equity Loans Closing costs Principal 76

HomeLight

JANUARY 23, 2023

As a homeowner feeling financial pressure, you might consider refinancing your mortgage to get a lower rate or selling your home to cash out on the steep rise in home values over the last few years. The choice may be a difficult one, however, given recent interest rate hikes and historically high housing costs.

Mortgages 100

Mortgages Fixed-rate mortgage Equity Loans 100

Redfin

DECEMBER 15, 2023

The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. Fast forward to today, the Fed’s efforts to combat inflation have led to a substantial increase in interest rates, affecting many sectors that influence our economy, including mortgages.

Fixed-rate mortgage 66

Fixed-rate mortgage Mortgages Title search Equity 66

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. The answer: You are free to refinance your mortgage as often as you like. You might be able to refinance immediately after closing on the loan.”.

Loans 128

Loans Equity Closing costs Mortgages 128

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. based in Troy, MI.

Closing costs 145

Closing costs Debt-to-income ratio Inspection Closing 145

Point2Homes

MARCH 17, 2021

One of the trickiest issues to address early on is ‘how much mortgage can I afford?’ ’ Without knowing your numbers, you run the risk of overspending and struggling to pay your mortgage payments in the future. When applying for a mortgage, lenders will be interested in several things. Moving costs.

Mortgages 98

Mortgages Closing costs Loans Renovation 98

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 409

Equity Lending Closing costs Development 409

Realty Biz

FEBRUARY 27, 2023

Immediate Help: Dropping FHA Interest Rates One of the newest developments in housing affordability came recently when the White House announced it was slashing the interest rate on Federal Housing Administration mortgage insurance products. Current rates stand at 0.85 percentage points. percentage points.

Lending 102

Lending Equity Finance Mortgages 102

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

Pre-approval 59

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

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

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. Loans that you pay back a little bit each month in addition to your monthly mortgage payment. Deferred loans that only have to be paid back if you sell the house or refinance the mortgage.

Loans 100

Loans Closing costs Lending Mortgages 100

Real Trends

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 99

Agents Seller concession Closing costs Mortgages 99

Realty Biz

MARCH 15, 2023

Mortgage Rates Interest rates had stayed low for a long time but began rising last year. For a 30-year fixed-rate mortgage, interest rates have averaged between 6% and 7% recently. With higher interest rates, mortgages are more expensive. There are three main things to consider before committing to getting a mortgage.

Debt-to-income ratio 112

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

Housing Wire

MARCH 2, 2021

HousingWire spoke with Steve Greenfield, Altisource General Manager of Mortgage Real Estate Solutions, about the state of the mortgage market and how Altisource’s HomeVal solution is benefiting lenders. HousingWire: What are some due diligence and underwriting challenges loan originators face today? It’s easy to see why.

Title 255

Title Lending Due diligence Title search 255

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

AUGUST 16, 2021

Some savings you can use toward a down payment and closing costs? Are you prepared for the responsibilities of home maintenance, mortgage payments, and everything else that comes along with homeownership? Are you open to doing some sweat equity in the beginning?” Estimate your down payment and closing costs.

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

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 90

As-is Inspection Equity Renovation 90

Redfin

JUNE 11, 2021

You’ve gotten preapproved for a home mortgage, found your dream home, negotiated an agreeable sales price, successfully maneuvered through the home inspection process, and finally, you have a fully executed sales contract in hand for your new house. . First, an appraisal is needed primarily for your mortgage lender. Congratulations!

Inspection 84

Inspection Closing costs Equity Closing 84

HomeLight

MARCH 2, 2021

Even when mortgage rates are low , this massive discrepancy can put the possibility of homeownership out of reach despite someone’s diligent efforts to save up. Because the higher your score, the better deal you can get on your mortgage. Shop around for a mortgage lender with the best rate. Monthly Payment. Total Interest Paid.

Inspection 109

Inspection Loans Closing costs Renovation 109