Housing Wire

SEPTEMBER 15, 2023

In all cases, close the video, article or session with a call to action: For more information about these and other special programs, call or text today at: enter your phone number. Let’s take a look at some available programs to help our special first responders. This service record may qualify for a Veteran Affairs (VA) loan.

VA loan 417

VA loan Loans Mortgages Closing costs 417

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. 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 loan 454

VA loan Agents Seller concession FHA loan 454

Housing Wire

NOVEMBER 10, 2023

FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S. Meanwhile, military VA loans represented 6.3% in April 2023. a year earlier.

FHA loan 437

FHA loan VA loan Mortgages Loans 437

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan 446

VA loan Loans Principal Mortgages 446

Housing Wire

NOVEMBER 20, 2020

Ellie Mae ’s Origination Insight report for October demonstrates some of the side effects of the historically low mortgage rates we’ve seen in 2020: incredibly high volume and an increase in time-to-close. The 30-year conventional dropped from 3.02% to 3.01%, and VA fell from 2.78% to 2.75%. over September, per Ellie Mae.

Closing 435

Closing FHA loan Mortgages VA loan 435

Housing Wire

MAY 17, 2024

On a more granular level, Sioux Falls topped the list for affordability among the top 10 metros, followed closely by Wichita Falls. Department of Veterans Affairs (VA), Texas led the nation with 10,237 VA loans originated in second quarter of 2024. In terms of safety, Rochester ranked first.

VA loan 280

VA loan Loans Mortgages Closing 280

Housing Wire

MAY 26, 2021

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans. The percentage of purchase mortgages increased to 43% of total closed loans.

Closing 446

Closing Mortgages VA loan FHA loan 446

Realty Biz

MARCH 28, 2023

A VA appraisal is similar in some ways to the appraisal with a conventional mortgage, but they do more to protect buyers. We look at a home's requirements when applying for a VA loan. There are VA loan inspection requirements for appraisals that buyers, sellers, and real estate agents should know.

VA loan 94

VA loan Inspection Loans Land 94

Housing Wire

FEBRUARY 6, 2024

The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. Fannie Mae and Freddie Mac loans, which represent nearly two-thirds of the mortgage market, cannot be assumed.

Mortgages 438

Mortgages VA loan Loans Closing 438

Housing Wire

MAY 10, 2024

A prospective buyer would still need to come up with $120,000 to close the gap. Roam now services 35% of homes with FHA and VA loans in the U.S., The new service, Roam Boost, will cater to people with credit scores of at least 640 and down payments of at least 15%.

Mortgages 417

Mortgages VA loan Loans Lending 417

Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan 395

VA loan Agents Pre-approval Debt-to-income ratio 395

Housing Wire

DECEMBER 13, 2023

The UWM’s discounted rates apply to the FHA Streamline program, which offers a simplified refinance process with reduced documentation requirements on Federal Housing Administration (FHA) loans. ” Top wholesale lenders have launched new initiatives to boost production at the end of 2023.

Loans 440

Loans VA loan FHA loan Mortgages 440

Housing Wire

OCTOBER 12, 2023

While conforming loans still made up the majority of production at 57% in September, conforming volumes trended well below pandemic levels, according to the report. FHA and VA loan production both gained in activity share to 20.6% Rates for FHA loans averaged 7.18%, VA loans were 7% and jumbo loans were 7.6%.

VA loan 403

VA loan Mortgages FHA loan Loans 403

Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan. Backed by the U.S.

VA loan 65

VA loan Loans FHA loan Mortgages 65

Housing Wire

DECEMBER 21, 2023

While delinquencies remain low overall, the number of delinquent loans ticked up in November, according to the latest ICE Mortgage Monitor report. Furthermore, the delinquency rate among FHA loans is at a nine-year high, and will be worth watching closely in 2024, the report said. Foreclosure starts decreased by 12.2%

Mortgages 427

Mortgages VA loan FHA loan Staging 427

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% Mortgage applications decreased 9.4% compared to 0.4%

Mortgages 413

Mortgages VA loan FHA loan Loans 413

Housing Wire

MARCH 29, 2022

Origination volume in the Veterans Affairs (VA) universe amounted to $388 billion in 2021, an analysis of Home Mortgage Disclosure Act (HMDA) data by Polygon Research application HMDAVision found. This marks a notable dip in originations from 2020, a record-breaking year in which VA lenders pumped out approximately $427 billion in VA loans.

VA loan 363

VA loan FHA loan Loans Banks 363

Housing Wire

MARCH 22, 2023

Today’s buyers are also able to save money in other ways: Nearly half of sellers are offering concessions, like helping pay for a mortgage-rate buydown or covering closing costs, to attract buyers.” The less competitive market has also resulted in more buyers using FHA and VA loans. a year prior. of all mortgaged home sales.

VA loan 406

VA loan FHA loan Loans Mortgages 406

Housing Wire

MARCH 29, 2024

The response rate by mortgage companies to consumer complaints stands at 99%, according to the bureau, and relevant companies “closed 92% of complaints with an explanation, 2% with monetary relief, and 3% with non-monetary relief,” the report stated. As of March 1, 2024, less than 0.1% were pending with the bureau.

Mortgages 397

Mortgages VA loan FHA loan Lending 397

Housing Wire

APRIL 15, 2024

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.

Agents 529

Agents Seller concession VA loan Finance 529

Housing Wire

MARCH 28, 2024

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.

VA loan 445

VA loan Closing costs MLS Loans 445

Housing Wire

MAY 2, 2024

Potempa brought his team of 38 professionals — including processors, business development staff, support staff and about 15 loan officers — to E Mortgage on March 25. He expects the group to close about $400 million in mortgages this year, representing about 15% of the company’s total.

Loan Officer 416

Loan Officer Mortgages VA loan Lending 416

Housing Wire

MARCH 25, 2024

The current VA rule states that a borrower using a VA loan cannot pay fees or commissions to a real estate agent unless determined “by the Under Secretary for Benefits as appropriate for inclusion. as proper local variances, under current VA regulations.“ “We as proper local variances, under current VA regulations.“ “We

Agents 437

Agents VA loan Loans Mortgages 437

Housing Wire

MAY 25, 2022

The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. The VA did not immediately respond to requests for comment.

Pre-approval 427

Pre-approval Loans VA loan Land 427

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 program is separate from the broader VA loan program that is available to all veterans. interest rate for the life of the loan.

VA loan 394

VA loan Mortgages Land Loans 394

Housing Wire

OCTOBER 11, 2023

Application activity remains depressed and close to multi-decade lows, with purchase applications still almost 20% behind last year’s pace,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release. The share of Federal Housing Administration (FHA) loan activity inched down to 14.4% for the week ending Oct.

Loans 367

Loans VA loan FHA loan Mortgages 367

Housing Wire

NOVEMBER 16, 2020

The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. The exact cost of this varies based on your loan balance and down payment. VA loans are mortgage loans that are guaranteed by the Department of Veterans Affairs.

VA loan 481

VA loan FHA loan Mortgages Loans 481

Housing Wire

NOVEMBER 9, 2023

A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans. About 74% of the 2,256 homebuyer assistance programs are down payment and closing cost assistance programs.

FHA loan 454

FHA loan VA loan Finance Loans 454

Housing Wire

MARCH 1, 2021

Streamline refinances (if you have an FHA or VA loan). Both FHA and VA loans come with a streamline refinance option, which essentially means a fast-tracked path to a new mortgage loan. You often won’t need a credit check, home appraisal or much paperwork, and you can close on your loan in just a couple of weeks.

Mortgages 427

Mortgages VA loan Loans Loan Officer 427

Housing Wire

MAY 25, 2022

from a week earlier, “close to lows last seen in the spring of 2020 when a significant portion of activity was put on hold due to the onset of the pandemic,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with jumbo-loan balances (greater than $647,200) also dropped slightly to 5.02% from 5.03% a year earlier.

Fixed-rate mortgage 427

Fixed-rate mortgage Mortgages VA loan Loans 427

Housing Wire

DECEMBER 8, 2021

Regarding the purchase market, Kan said mortgage applications fell after four consecutive increases, but activity is still close to the highest level since March, a positive sign. VA loans comprised 10.7%, increasing seven basis points. Meanwhile, FHA loans went from 8.9% Refinance apps fell 36.5% in the same period.

FHA loan 437

FHA loan Mortgages VA loan Fixed-rate mortgage 437

Housing Wire

FEBRUARY 16, 2023

For the past 15 years, mortgage delinquencies have tracked very closely with employment conditions, Marina Walsh, MBA’s vice president of industry analysis, noted. The FHA loan delinquency rate rose the most by a whopping 209 bps to 10.61% in the fourth quarter from the previous quarter. by the end of 2023.

Mortgages 417

Mortgages Equity VA loan FHA loan 417

Housing Wire

DECEMBER 23, 2021

have a GSE loan, 2.9% have FHA/VA loans, and 2.5% are portfolio held and privately securitized loans. But despite things going in a good direction, Black Knight added that “given the size of this population, both serious delinquency and foreclosure metrics demand close attention as we enter 2022.”.

Mortgages 417

Mortgages VA loan Loans Industrial 417

Housing Wire

DECEMBER 22, 2021

VA loans comprised 11.5%, an increase of nine basis points. Meanwhile, the share of FHA loans remained unchanged at 9.6% The share of USDA loans was 0.5%. Regarding the refi market , Kan said rates at the lowest level in four weeks helped spur an increase across all loan types. on the previous week. in the period.

Mortgages 394

Mortgages VA loan FHA loan Fixed-rate mortgage 394

Point2Homes

JULY 29, 2021

As you plan to purchase your first home, you might find that there are a few stressful aspects of the homebuying process that can make or break your purchase: One is when you first apply for a mortgage and another is when you close on a house. Then, if all goes well, the underwriting process will begin and you can prepare for closing.

Closing 141

Closing VA loan FHA loan Loans 141

Keeping Current Matters

JULY 29, 2021

Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report: The drop in VA loan usage can be attributed to the difficulties veterans continue to face when buying a home. They are on the bottom of the hierarchy.” Bottom Line.

VA loan 219

VA loan Loans Finance Mortgages 219

CT Homes

APRIL 4, 2024

One of the pivotal moments in this journey is the closing process—the final lap in the race to your new home. But just how long does it take to close on a house , especially in a state as diverse as California? What Does Closing On A House Mean? Once an offer is made and accepted, the closing process formally begins.

Closing 55

Closing Pre-approval Inspection VA loan 55