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.

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VA loan FHA loan New Construction Loans 380

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.

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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.

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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%

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VA loan FHA loan New Construction Loans 366

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.”

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Sales VA loan FHA loan Loans 414

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. .

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VA loan FHA loan Construction Loans 422

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 474

Mortgages VA loan FHA loan Construction 474

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 350

Mortgages VA loan FHA loan Construction 350

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.

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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% Conventional loans made up 63.6%

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Mortgages VA loan Loans New Construction 434

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%

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VA loan FHA loan Loans Construction 464

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?

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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 360

Mortgages VA loan FHA loan Loans 360

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.

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VA loan FHA loan Mortgages Loans 388

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%.

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VA loan FHA loan New Construction 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.

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FHA loan VA loan Loans Finance 405

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.”

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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.

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HomeLight

AUGUST 9, 2022

If you back out of the sales agreement and your reason for doing so isn’t covered by contingency written into the contract, the seller can keep your earnest money. Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. The deal is done!

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 94

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.

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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 97

Mortgages VA loan FHA loan Loans 97

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 Loans backed by the VA offer 0% down payments for those who qualify.

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Closing Earnest money deposit Sales Title 87

HomeLight

NOVEMBER 17, 2021

FHA stands for the Federal Housing Administration , which is part of the U.S. The FHA backs mortgages to allow lenders to offer a favorable deal to homebuyers. FHA loan advantages include: Low down payments (as low as 3.5%). Talk with your mortgage lender if you think a USDA loan might be right for you.

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FHA loan Mortgages Loans Debt-to-income ratio 90

Real Trends

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.

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FHA loan VA loan Loans Finance 84

Realtor.com

NOVEMBER 9, 2022

For single-family home sales, the average down payment jumped to a high of more than 14% of the purchase price this year. ® data team pored through September home sales in the 300 largest metropolitan areas using mortgage data from Optimal Blue. 10), less than $200,000 will cover the median home sale. Take Santa Barbara (No.

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VA loan FHA loan Loans Sales 111

HomeLight

APRIL 5, 2023

An experienced real estate agent can evaluate your home’s value, run the comps ( comparable home sales ), and calculate the ROI to see if updating makes financial sense.” However, you might want to fix something that opens up your home to different loan types. “If The size of your yard or square footage isn’t going to magically grow.

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Inspection Renovation Agents VA loan 133

Realtor.com

NOVEMBER 28, 2022

While there are a variety of mortgages aimed at helping homebuyers afford a home—such as FHA loans and VA loans —one type that’s often overlooked are USDA loans, which offer excellent terms to those who qualify, including a 0% down payment and low interest rates.

Loans 95

Loans Mortgages FHA loan Debt-to-income ratio 95

HomeLight

MARCH 24, 2022

The appraisal can make or break your mortgage loan, so you may be feeling a little bit antsy right now — which is a perfectly normal feeling, according to Alan Daniels , a real estate agent who ranks in the top 1% of Colorado Springs agents. Buyers want to make sure that the home appraises at least at the sales price, he says.

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FHA loan Inspection Loans VA loan 87

HomeLight

APRIL 12, 2023

Both buyers and sellers are responsible for certain fees and closing costs in a home sale transaction, which we’ll discuss in more detail in the next section. Down payments vary by lender , borrower, and loan and can be as little as 0% (VA loans) or as much as 10% (jumbo loans).

Closing costs 80

Closing costs Closing Purchase and sale agreement Title search 80

HomeLight

SEPTEMBER 1, 2022

Raymer says that for her clients, especially first-time buyers, she suggests an FHA loan, which only requires 3.5% FHA is really one of the best options,” she advises. An FHA loan is insured by the Federal Housing Administration and available from FHA-approved lenders. down payment. Special programs.

Earnest money deposit 76

Earnest money deposit FHA loan Purchase and sale agreement Title 76

HomeLight

DECEMBER 29, 2021

Savvy sellers know that if their home is priced right, they stand a very good chance of having it appraise accordingly, and keep the sale on track. Construction details (type of foundation, type of materials used). FHA and VA loans have additional requirements an appraiser must evaluate, most of which relate to safety and soundness.

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Purchase and sale agreement VA loan Loans Agents 104

HomeLight

FEBRUARY 27, 2023

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Multi-family homes in Indiana often stray from the standard sales comparison approach for determining a home’s value, which adds to the appraisal cost.

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Equity Agents VA loan Construction 83

HomeLight

APRIL 11, 2022

Statistics from the National Association of Realtors® (NAR) show that of all the sales that closed in February 2022, only 22% waived an appraisal contingency , indicating that a majority of buyers are still using a mortgage and thus opting for the required appraisal. These sales are called comparable properties, or comps.

Loans 103

Loans Pre-approval Agents Inspection 103

HomeLight

MAY 23, 2022

“Either there are a couple of issues with the house that they want to disclose but not necessarily repair or they’re selling a house as part of an estate sale and don’t know a lot about it.”. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in Wisconsin.

As-is 107

As-is Inspection Investor Closing costs 107

Redfin

AUGUST 2, 2022

In other cases, only the home’s structure may be for sale, meaning you’ll likely pay rent for the moorage, similar to HOA fees. And if you’re considering a Federal Housing Administration (FHA) loan or a Department of Veterans Affairs (VA) loan, know that government-backed loans won’t finance a floating home.

VA loan 56

VA loan FHA loan Loans Design 56

Housing Wire

MARCH 16, 2021

MBA’s homebuilder application survey showed new, single-family home sales running at a seasonally adjusted annual rate of 748,000 units in February 2021 – down 17.3% Total, MBA estimated that there were 65,000 new home sales in February 2021, down from 69,000 new home sales in January. and VA loans composed 9%.

VA loan 280

VA loan FHA loan Loans Banks 280

HomeLight

AUGUST 12, 2022

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in California. As is” is a type of home sale where it’s understood that no improvements will be made to the property. Rooms or construction completed without a permit or non-compliant with building codes.

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As-is Purchase and sale agreement Natural hazards disclosure Closing costs 97