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. What is reverse purchase financing?

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Finance Seller concession Loan Officer Loans 449

Housing Wire

SEPTEMBER 16, 2022

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

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Mortgages Seller concession Fixed-rate mortgage Loans 397

HomeLight

OCTOBER 30, 2020

What many homeowners don’t realize is that they have equity built up in their house that can help them out of their current financial difficulty. And as of this writing in 2020, home values are rising quickly as buyers desperately search for houses, putting seller’s in the driver’s seat. Subtract selling fees.

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Short sale Banks Equity Mortgages 104

HomeLight

MAY 3, 2023

But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S. Decluttering can be done for the cost of sweat equity, though some sellers may need to anticipate costs for junking and storage. For example, if a buyer puts less than 10% down, then the concession max is 3%.

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Seller concession Purchase and sale agreement Inspection Title 109

HomeLight

AUGUST 25, 2020

If you want to, you could sell your house immediately after the paperwork says it is officially yours,” says Kimberly Porter, CEO of Microcredit Summit , a top personal finance publication. The longer you stay in the home, the greater portion of the monthly payment goes toward the principal. Seller concessions (2% – 6%).

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Principal Equity Seller concession Title 68

HomeLight

JULY 25, 2022

Primary reasons for this include lack of equity accumulated in the home and insufficient appreciation – an increase in property value. In a seller’s market , prices typically rise, which could effectively boost equity in your home and increase appreciation. Seller concessions (2%-6%). Overlap costs (1%-2%).

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Closing costs Equity Short sale Agents 93

HomeLight

JULY 25, 2022

You can sell a home whenever you want, but expect financial consequences if you have little equity in it. There are a number of reasons for this, including lack of equity accumulated in the home and insufficient appreciation – an increase in property value. You can build equity and lower your tax burden.”.

Closing costs 90

Closing costs Equity Short sale Sales 90