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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

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% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

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GSEs will not count buyer agent commissions as IPCs

Housing Wire

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

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Vital Steps to Take When Purchasing Your First Home

Realty Biz

Let's start with some detailed information and actionable tips on financing. From preparing your finances and exploring mortgage options to calculating your budget, these steps set you on the right path toward finding your dream home. Research different types of mortgages available, such as conventional, FHA, or VA loans.

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How to Find Comps for My House: An Illustrated Guide

HomeLight

Once it’s under contract, a home appraiser will assess your home’s value on behalf of the mortgage lender financing the home — using a comps analysis of their own. Different loan types have different guidelines and criteria that the appraiser must meet,” says Swecker. Who else uses real estate comps? City websites.

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