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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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How real estate professionals can help first responders buy a home

Housing Wire

Stop relying so heavily just on your MLS! This service record may qualify for a Veteran Affairs (VA) loan. VA loans are not well understood by many Realtors. VA loans have no down payment requirement. These features make VA loans one of the most attractive loan programs available in the industry.

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NAR, MBA ask for clarification on underwriting rules

Housing Wire

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

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What Home Sellers Need to Know about Closing Costs in Kentucky

HomeLight

In Kentucky, the average closing costs for sellers are approximately 2% of the sale price or $3,000 for a $150,000 home (which is the average selling price across the state) and the agent’s commission, which is 5-6% of the sale price or up to $9,000 on a $150,000 home sale for a total of approximately $12,000 in costs.

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How real estate professionals can help first responders buy a home

Real Trends

Stop relying so heavily just on your MLS! This service record may qualify for a Veteran Affairs (VA) loan. VA loans are not well understood by many Realtors. VA loans have no down payment requirement. These features make VA loans one of the most attractive loan programs available in the industry.

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Opinion: Realtors, it’s time to raise your voice for consumers

Real Trends

And yet, in today’s world of technology, instant gratification and misinformation, local MLS broker marketplaces and real estate professionals can be taken for granted. You understand and provide guidance on the financial aspects of the transaction, like mortgage rates, closing costs and appraisals.

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Selling a House ‘As Is’ in Louisiana

HomeLight

Real estate attorneys are not considered essential for closing in the state of Louisiana Real estate transfer taxes? These companies can help sellers cash out quickly, and many will cover a seller’s closing costs. No Is a real estate attorney required?

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