Housing Wire

FEBRUARY 1, 2023

FBC Mortgage recorded originations of about $8 billion in 2022, including its joint venture volume, Nunziata said, adding that about 70% of that volume “was new construction.” The National Association of Realtors (NAR) reports that existing-home sales dropped 17.8% in 2022, the weakest showing since 2014.

Marketing 404

Marketing FHA loan Loans Mortgages 404

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% of purchase applications came from the FHA , the highest share since May 2020. “FHA from 60,000 new home sales in June. Overall, 24.2%

New Construction 370

New Construction Construction FHA loan Mortgages 370

Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. It indicates that a larger share of first-time homebuyers are active in the new home sales market. On an unadjusted basis, MBA estimates that there were 59,000 new home sales in August 2023, an increase of 5.4%

New Construction 393

New Construction Construction Mortgages VA loan 393

Realty Biz

JANUARY 4, 2024

Furthermore, they inspect the state of the property, which includes the caliber of construction materials and any required repairs or enhancements. Appraisers consider recent sales data of similar properties to determine a comparative market value. For example, the appraiser must look at health and safety with an FHA loan.

FHA loan 100

FHA loan Construction Renovation Loans 100

Housing Wire

OCTOBER 21, 2020

million annualized pace for new construction — the highest level since 2007. Same thing happened for those of you that were around in 2009, whereby we had very high delinquencies and our costs hadn’t quite caught up yet and as loans get more delinquent and are seriously delinquent, that’s when the real costs start to really come into play. “We

Mortgages 404

Mortgages FHA loan Fixed-rate mortgage Loans 404

Housing Wire

JUNE 23, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. inflation jumped from 1.68% in February all the way up above 5% by June, per last week’s PMMS report from Freddie Mac.

Fixed-rate mortgage 421

Fixed-rate mortgage Mortgages Loans Construction 421

Realty Biz

OCTOBER 31, 2022

Rising costs of construction, insurance, rent, and mortgages. FHA loans that are preferred by low-income buyers and require PMI payments saw a slight increase. As did ARM loans, which is typical when interest rates are rising as it applies to existing home sales and home price growth. Real estate value in 2022.

Mortgages 96

Mortgages FHA loan Lending Loans 96

Housing Wire

JUNE 17, 2021

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. On a seasonally adjusted basis, the MBA also estimates new home sales fell at an annualized pace of 4% in May, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Sales 493

Sales VA loan FHA loan Loans 493

Housing Wire

JULY 26, 2021

New home sales continued to slip in June, falling 6.6% The median sales price of new houses sold in June 2021 was $361,800. The average sales price was $428,700. “Builders are working through this uncertainty by managing their pipelines, notably expanding the number of homes for sale that are not yet started.”

Sales 414

Sales VA loan FHA loan Loans 414

Realty Biz

SEPTEMBER 23, 2023

How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price. They analyze property values, market conditions, and comparable sales to help you submit a fair and competitive offer.

Purchase and sale agreement 73

Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Housing Wire

FEBRUARY 16, 2024

Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 700,000 units in January, the highest pace since October 2023. of loan applications for new homes.

VA loan 424

VA loan FHA loan New Construction Loans 424

Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. This has led to an overall reduction in home sales as buyers struggle to secure financing. Keep an eye out for associated fees and other costs that you may encounter.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

Housing Wire

APRIL 16, 2024

According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 615,000 units in March, the slowest annualized pace in four months, and a decrease of 10.7% from the February rate of 689,000 units. Federal Housing Administration (FHA) loans accounted for 26.4% Applications were up 6.2%

VA loan 424

VA loan FHA loan New Construction Loans 424

HomeLight

AUGUST 20, 2021

You think your house sale is all wrapped up — but you’re not done yet. The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. FHA loans require a special appraisal. Poor quality construction.

FHA loan 104

FHA loan Inspection Pre-approval Loans 104

Housing Wire

MAY 19, 2022

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. It was the slowest sales pace since May 2020. On an unadjusted basis, MBA estimates that there were 65,000 new home sales in April 2022, a decrease of 12.2% from 74,000 new home sales in March. .

VA loan 424

VA loan FHA loan Construction Loans 424

CT Homes

FEBRUARY 23, 2021

Many presale homes are houses that are still under construction. While under construction, these properties don’t have traditional listings. Since they financed the fix-and-flip with a hard money loan, they’re on a time crunch to get the property sold, and they’re not willing to drag out the sale with multiple appraisals.

FHA loan 52

FHA loan Renovation Hard money loan Inspection 52

CT Homes

FEBRUARY 23, 2021

Many presale homes are houses that are still under construction. While under construction, these properties don’t have traditional listings. Since they financed the fix-and-flip with a hard money loan, they’re on a time crunch to get the property sold, and they’re not willing to drag out the sale with multiple appraisals.

FHA loan 52

FHA loan Renovation Hard money loan Inspection 52

CT Homes

FEBRUARY 23, 2021

Many presale homes are houses that are still under construction. While under construction, these properties don’t have traditional listings. Since they financed the fix-and-flip with a hard money loan, they’re on a time crunch to get the property sold, and they’re not willing to drag out the sale with multiple appraisals.

FHA loan 52

FHA loan Renovation Hard money loan Inspection 52

Housing Wire

NOVEMBER 16, 2021

The strong monthly gain puts MBA’s estimate of new home sales at its strongest pace since January 2021, the report said. In September , the average mortgage loan size of new homes clocked in at $408,522, the survey found. Overall construction costs, as measured by the Producer Price Index (PPI), recorded an annual increase of 12.3%

Mortgages 477

Mortgages VA loan FHA loan Construction 477

Housing Wire

JULY 20, 2023

On an unadjusted basis, MBA estimates that there were 60,000 new home sales in June 2023, a 6.3% decrease from 64,000 new home sales in May. New home purchase activity continues to be a bright spot, as both new home applications and home sales were up on an annual basis,” said Joel Kan, MBA ’s vice president and deputy chief economist.

Mortgages 370

Mortgages VA loan FHA loan Construction 370

HomeLight

APRIL 14, 2023

Both buyers and sellers are responsible for certain fees and closing costs in a home sale transaction, which we’ll break down in more detail in the next section. For sellers, the lion’s share of the closing costs is the agent commissions, which are percentages of the home’s total sales price. Who pays for closing costs in Georgia?

Closing costs 95

Closing costs Closing Title Loans 95

Housing Wire

DECEMBER 29, 2022

Sales fall. Then we had the biggest mortgage rate shock in recent history and yet even with that, we will have over 5 million total home sales this year. Home sales. The housing market of 2002-2005 had four years of sales growth facilitated by credit. Housing demand has fallen noticeably this year. Production falls.

Marketing 546

Marketing Bankruptcy Sales FHA loan 546

Housing Wire

DECEMBER 15, 2020

November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” Kan said. On an unadjusted basis, MBA estimates that there were 59,000 new home sales in November 2020, a decrease of 15.7%

VA loan 464

VA loan FHA loan Loans Construction 464

Housing Wire

JANUARY 31, 2023

The decision left more than 400 employees without a job, and Miller had two urgent tasks — to find a lender that would close his clients’ loans in the pipeline and would also help him close more sales in an industry that is projected to further downsize. “I It also underwrites conventional loans and works as a marketing tool for LOs.

Loans 393

Loans Mortgages Loan Officer Pre-approval 393

Housing Wire

JULY 19, 2022

New residential construction and permitting activity weakened from March through May, which reduced the number of homes available for home buyers, according to survey results. The average loan size dropped to $426,966 in June from May’s $430,855, MBA said. Conventional loans accounted for 73.7% of loan applications.

Mortgages 370

Mortgages VA loan FHA loan Loans 370

Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. First time buyers (54%) are more than twice as likely as repeat buyers (22%) to consider an FHA loan.

FHA loan 433

FHA loan VA loan Loans Finance 433

Housing Wire

OCTOBER 19, 2021

Based on data from the survey, MBA estimates that there were 66,000 new single-family home sales in September, compared to 71,000 new single-family homes a month prior, a 7% decrease. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

VA loan 404

VA loan FHA loan Mortgages Loans 404

Housing Wire

AUGUST 22, 2022

“The slide in purchase applications for new homes – now down for the fourth consecutive month and 16% lower than a year ago – is consistent with data on declining homebuilder sentiment and slowing permitting activity for new construction.”. from the revised 56,000 new home sales in June. and VA loans composed 11.4%.

VA loan 370

VA loan FHA loan New Construction Loans 370

HomeLight

DECEMBER 1, 2020

The school’s recently constructed McLane Stadium, built along the scenic Brazos River , attracts large crowds each year and has prompted the construction of new hotels, restaurants, and shops. These trends give the heart of Waco a significant portion of total home sales. more for the seller in terms of final sales price.

Staging 82

Staging Inspection FHA loan Agents 82

Housing Wire

NOVEMBER 16, 2023

“We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace — the strongest sales month since May 2023.” FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% from 51,000 sales in September.

Mortgages 450

Mortgages VA loan Loans New Construction 450

Housing Wire

JULY 20, 2021

New single-family home sales were reported at a seasonally adjusted annual rate of 704,000 units in June, a decrease of 5% from May’s pace of 741,000. The MBA estimates there were 66,000 new home sales in June, down from 68,000 such sales in May. This has dampened new home sales and quickened home-price growth.”

Marketing 493

Marketing VA loan FHA loan Loans 493

Redfin

JUNE 14, 2023

This affordability is evident through a median sale price of $361,000, which is below the national median of $407,415. Despite a decrease in housing demand, the median sale price continues to rise steadily, with a noteworthy 2.5% One aspect that makes this market particularly enticing is its affordability in comparison to other areas.

Pre-approval 59

Pre-approval Debt-to-income ratio Closing costs Title 59

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

MAY 31, 2022

When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”. Planet is in a unique position because there are very few non-depository lenders offering a construction product,” Hattan said.

Mortgages 382

Mortgages Loans Lending Construction 382

HomeLight

AUGUST 16, 2021

Here’s a quick breakdown: Loan type. Competitive rates, widely available, lower fees than FHA loans. FHA (government-backed). Accessible home loans for buyers with lower income and distressed credit. Source: (LinkedIn Sales Solutions / Unsplash). Request construction permits if needed. Conventional.

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. “If

Closing 91

Closing Earnest money deposit Sales Title 91

RIS Media

SEPTEMBER 21, 2021

The details: According to MBA estimates using data from the BAS, new single-family home sales were running at a seasonally adjusted annual rate of 874,000 units in August 2021. Unadjusted, MBA estimates there were 71,000 new-home sales in August 2021—an increase of 10.9% from 64,000 new-home sales in July. of loan applications.

Mortgages 105

Mortgages VA loan FHA loan Loans 105