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 458

Mortgages Loans Closing costs Industrial 458

Housing Wire

DECEMBER 21, 2023

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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VA loan Loans Mortgages Lending 441

HomeLight

OCTOBER 25, 2023

Whether you’re buying or selling, you’re probably wondering how to avoid closing costs. Unfortunately, there’s no way to eliminate them altogether, but there are ways you can lower your closing costs regardless of the state of the market. However, closing cost etiquette varies in different locales.

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Closing costs Closing Title Inspection 96

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

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Loan Officer Mortgages Loans Closing costs 397

HomeLight

JULY 5, 2023

It’s no secret that the mortgage industry isn’t super transparent about closing costs. According to a February 2017 report from ClosingCorp, more than half of homebuyers surveyed were surprised by their closing costs. Third-party fees: The second group of closing costs is third-party fees.

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Closing costs Closing Mortgages Loans 89

HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Georgia (GA)? 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. to purchase a home in.

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Closing costs Closing Title Loans 89

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August.

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Purchase and sale agreement Mortgages Closing costs Sales 421

Realty Biz

JULY 6, 2023

Two common strategies sellers use to entice potential buyers are offering a closing cost credit or a price reduction. A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. What Is a Seller Credit? Let's take a look.

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Closing costs Closing Purchase and sale agreement Seller concession 93

RIS Media

AUGUST 21, 2023

Mortgage rates are stubbornly high. For homebuyers in this market, every dollar counts. It’s tough to be a homebuyer right now. The national median home price has broken $400,000. Inventory is at historic lows.

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Closing costs Title Closing Mortgages 98

Housing Wire

APRIL 27, 2023

Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. Khater added: “Incoming data suggest the housing market has stabilized from a sales and house price perspective. Per the Commerce Department ‘s data, the U.S. economy grew at a 1.1%

Mortgages 384

Mortgages Fixed-rate mortgage Loans Closing costs 384

HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? 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. What are closing costs?

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Closing costs Closing Inspection Loans 77

Housing Wire

JULY 24, 2023

Delmar Mortgage has become the latest lender to partner with Freddie Mac on a special purchase credit program that aims to narrow the housing gap for historically underserved communities. Delmar Mortgage was founded in 1966 and operates in 38 states with 16 branch locations.

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Mortgages Closing costs Finance Land 284

HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in New Jersey (NJ)? 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. What are closing costs?

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Closing costs Closing Title search Inspection 77

Housing Wire

SEPTEMBER 22, 2022

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. A Spanish website and mortgage applications tool to help Hispanics overcome language barriers went live this week by CrossCountry Mortgage. billion in loans.

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Marketing Loan Officer Loans Finance 370

Housing Wire

AUGUST 17, 2022

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

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Seller concession Mortgages Fixed-rate mortgage Loans 410

HomeLight

APRIL 13, 2023

For the final tabulation in determining the cost of your new house, you subtracted the down payment. But did you remember to add closing costs? So, how much are closing costs in Nebraska? Find a Buyer's Agent What are closing costs? Who pays for closing costs in Nebraska?

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Closing costs Closing Title Title search 73

Housing Wire

MARCH 20, 2024

Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday. The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process.

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Banks Closing costs Lending Equity 431

RIS Media

JUNE 15, 2021

Refinancing your mortgage might help you lower your monthly payments and save tens of thousands of dollars in interest over the life of the loan. A refinance typically comes with closing costs, a series of fees that can cost thousands of dollars up front. Ways to Lower Closing Costs. It can’t hurt to ask.

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Closing costs Closing Mortgages Title 104

Housing Wire

NOVEMBER 7, 2023

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. 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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VA loan Agents Seller concession FHA loan 458

Housing Wire

JANUARY 30, 2024

housing market has reached its least affordable point in decades and housing agencies have increasingly rolled out homebuyer assistance programs to tackle this issue. Other lenders that have introduced DPA programs or DPA-oriented programs of late include Rocket Mortgage , United Wholesale Mortgage , Guild Mortgage and Guaranteed Rate.

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Closing costs Mortgages Investor Loans 512

Housing Wire

JULY 12, 2022

California-based Pennymac launched a product that can freeze mortgage rates as many as 90 days, in a bid to attract more borrowers to the market amid volatile rates. Pennymac is the latest mortgage lender to freeze rates for borrowers. The product does not require a property address to guarantee a mortgage rate.

Mortgages 384

Mortgages Pre-approval Loans Closing costs 384

Housing Wire

APRIL 18, 2023

While a mortgage business’ battle against margin compression is seemingly endless, that fight is less noticeable in times of surging revenue. The decline in mortgage volume, along with increasing rates and uncertainty about the months ahead, have amounted to a scramble for revenue and a continual push to reduce expenses.

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Mortgages Technology Closing costs Title 370

Housing Wire

SEPTEMBER 16, 2020

A well-qualified buyer these days can find a mortgage at historically low interest rates. But that’s not good enough for United Wholesale Mortgage CEO Mat Ishbia. So if the numbers work for them and they want the lowest rate , they can do that and the mortgage brokers can figure out what works for them and get that deal for them.

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Mortgages Marketing Title Loans 466

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. These are clients with great income, credit scores and who are very creditworthy,” Bob Walters, CEO of Rocket Mortgage, said in a statement.

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Loans Mortgages Land Finance 397

Housing Wire

NOVEMBER 16, 2022

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. Borrowers with temporary buydowns pay a lower mortgage rate during the first, second and third years of their loans. How to stay competitive with specialty mortgage products heading into 2023.

Seller concession 384

Seller concession Mortgages Fixed-rate mortgage Loans 384

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

RIS Media

MAY 19, 2021

Non-Recurring Costs Associated With the Lender. Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Lender Fee.

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Closing costs Closing VA loan Pre-approval 113

Realty Biz

FEBRUARY 23, 2022

Besides the mortgage fees and down payment you need to pay, there are also a few closing costs you should know about before you make an offer on a house you like. These are actual expenses associated with your home purchase which you’ll need to pay at the closing of a real estate transaction. Moving costs.

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Closing costs Closing Inspection Land 86

Housing Wire

MARCH 22, 2023

It also allows qualifying veterans to get into the housing market with no down payments, limited closing costs, and no monthly mortgage insurance costs. The new rate will apply to NADL loans closed on or after March 13, which will lock in the 2.5% interest rate for the life of the loan.

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VA loan Mortgages Land Loans 397

Windemere Selling

JANUARY 19, 2022

Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid. Learn more about the costs of buying and selling a home here: 10 Costs Associated with Buying a Home 10 Costs Associated with Selling Your Home What are closing costs?

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Closing costs Closing Purchase and sale agreement Seller concession 52

Housing Wire

JANUARY 24, 2024

Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. It allows lenders to lock in margins and reduce hedging costs.

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Closing costs Loans Closing Mortgages 479

Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. In fact, they could actually cost you more (often significantly more) if used incorrectly. USDA loans.

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Mortgages VA loan Loans Loan Officer 432

HomeLight

AUGUST 20, 2021

If you’re selling a home in Connecticut, you should familiarize yourself with closing costs that sellers pay to finalize the transaction. The average closing costs for home sellers fall between 6% to 10% of the home’s sale price. Connecticut sellers can count on these costs. Mortgage payoff. Recording fees.

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Closing costs Closing Title search Title 108

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 bps toward closing costs at the time of the closing. “We

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Mortgages Investor Loans Banks 397

Housing Wire

NOVEMBER 30, 2023

Bright MLS released its National Housing Market Outlook on Wednesday, which shows that affordability will remain the biggest challenge for homebuyers next year. Homebuyer traffic will increase in 2024, fueled by lower mortgage rates and more existing-home inventory. for much of the year before reaching 6.2% by the year’s end.

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MLS Closing costs Sales Mortgages 473

Housing Wire

MAY 17, 2023

Rocket Mortgage ‘s top executives believe the mortgage market is near the bottom, which means a recovery may be on the horizon soon. So yes, we’re toward the bottom in that,” Bob Walters, CEO at Rocket Mortgage and president and COO at Rocket Companies , said. You may get a mortgage once every 10 years.

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Marketing Banks Mortgages Industrial 370

Housing Wire

NOVEMBER 30, 2022

Credit reports are getting a lot pricier, and some mortgage lenders are none too pleased about it. 22, the National Consumer Reporting Agency told its members that the “vast majority” of mortgage lenders would see price increases between 10% and 400% from Fair Isaac Corp. In a letter dated Nov.

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Mortgages FHA loan Loans Closing costs 397