Housing Wire
FEBRUARY 6, 2025
Also, DSCR five- to nine-unit loans are designed for larger multi-family homes. Beyond that, Deephaven allows up to 3% seller concessions at closing. Deephavens Equity Advantage Closed End Second is a second mortgage designed for one purpose assisting borrowers in borrowing their equity. These loans go up to $2.5
Redfin
FEBRUARY 18, 2025
Department of Agriculture (USDA) specifically designed to help low-to-moderate-income families purchase homes in rural areas. Rural areas: These loans are specifically for properties located in designated rural areas. The program is designed for those who meet certain income thresholds. This is called a seller concession.
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Redfin
JULY 24, 2025
Similarly, HomeReady and Home Possible programs, backed by Fannie Mae and Freddie Mac, respectively, are designed for low-to-moderate-income borrowers and typically require a minimum 3% down payment. FHA loans are designed for primary residences, meaning you must live in the property you purchase with the loan.
Redfin
MARCH 4, 2025
Home equity line of credit (HELOC) Commonly called HELOC, a home equity line of credit, allows you to withdraw funds on an as-needed basis for a designated period of time (known as a draw period). A home equity loan can be a good idea if you have a specific amount of money that you need. FAQs about home equity Can you have negative equity?
Housing Wire
JANUARY 17, 2024
1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans.
Housing Wire
NOVEMBER 7, 2023
Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points. The Department of Veterans Affairs (VA) rules prohibit VA borrowers from paying real estate commissions.
Housing Wire
FEBRUARY 2, 2024
The other two big things that originators are more in control of is orienting their efforts toward purchase business now that HECM offers similar seller concessions as competing forward loans, which is huge, and working with advisers to develop relationships with mutually beneficial referrals.”
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