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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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How to Take Over Mortgage Payments: Understanding Assumable Loans

HomeLight

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?” In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. Most conventional loans are not assumable.

Loans 101
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Powerful Reasons For a Seller Credit in Real Estate

Realty Biz

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. Typical uses include closing costs, prepaid items, and even repairs or upgrades to the property.

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How to Apply For a First-Time Home Buyers Loan: Simplifying the Process Into 8 Doable Steps

HomeLight

Sometimes you’ll even find grants to help you with closing costs and down payments. With this expert-backed guide, we’re here to help: Here’s how to apply for a first time home buyers loan in eight manageable steps. Source: (LinkedIn Sales Solutions / Unsplash). You can qualify for loans with as little as 3.5%

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The Ultimate Guide to Buying a House in Michigan

Redfin

Michigan housing market insights The housing market in Michigan continues to show increased median sale prices. As of recent data, the median sale price stands at $252,200, reflecting a 1.6% Additionally, the number of homes available for sale has declined, down 8.3% year-over-year increase. year-over-year.

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42 Steps to Homeownership: The Resourceful Buyer’s Go-To Guide

HomeLight

Plus, if you do decide to take the leap, you’ll be ready to tackle your home purchase like a pro. Some savings you can use toward a down payment and closing costs? Estimate your down payment and closing costs. Your down payment can be as low as 3%, or even 0% if you qualify for a zero-down loan.

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How Much Are Closing Costs in Massachusetts? (And 5 Ways to Reduce Them)

HomeLight

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.