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Rocket Mortgage to buyers: Use a partner agent, save big on closing costs

Housing Wire

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs. billion in the third quarter.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? They own the home with their name on the title, as with any mortgage, traditional or reverse. Yet staggeringly few are aware of its existence.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

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Equifax’s Work Number is too expensive and regulators should look into it: CHLA

Housing Wire

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. The trade group urged the regulators to examine Equifax’s pricing practices.

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Busting VA mortgage loan myths

Housing Wire

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

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Finance of America now offers renovation loans

Housing Wire

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Homeowners can also use it to access financing solutions through their contractor. billion in 2019.

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Can I Roll Closing Costs Into My Conventional Mortgage?

Bigger Pockets

Some investors may benefit from rolling closing costs into their mortgage payments. We'll break down this strategy and explain if it makes sense for you.