The Mortgage Report

JULY 1, 2025

You’ll also have less equity in the home upfront, which could impact your need to sell or refinance the home in the future,” Erickson continues. Plus, with most loan programs, you’ll have to pay for mortgage insurance if your down payment is less than 20%, which can make monthly payments harder to manage.

Loans

Redfin

JUNE 10, 2025

Offer seller concessions or financing: Instead of reducing the core price, you might offer seller credits toward the buyer’s closing costs. While less common, seller financing, where you act as the lender for a portion of the loan, could also be an option to bridge the gap. .

Purchase and sale agreement

Housing Wire

JANUARY 10, 2023

“Buyers are asking sellers for things that were unheard of during the past few years,” said Van Welborn, a Phoenix-based Redfin real estate agent, in a prepared statement. Recently, one of Welborn’s buyers negotiated a $10,000 credit for a new roof and other repairs along with a lower asking price for the home.

Seller concession

Housing Wire

JANUARY 17, 2024

The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). And after years of advertisements and TV commercials promoting the benefits of better-known reverse mortgage loan uses like continuing to live in your current home while tapping your home equity, 4 who could blame them?

Finance

Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. Last week, it launched temporary rate buydowns , allowing borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. .

Seller concession

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. 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.

Mortgages

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgages

Housing Wire

APRIL 8, 2024

Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% The actual breakout of numbers also paints a telling picture, since March saw new borrower (or “equity takeout”) originations rise by 10.7%, HECM for Purchase (H4P) endorsements increase by 15.1% and even HECM-to-HECM refinances jump by 8.8%.

Mortgages

Housing Wire

MARCH 6, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% I think the best places to focus right now are giving the H4P a muscular new push due to the seller concessions update , and working with forward mortgage distribution and servicing opportunities to convert forward loans into new reverse borrowers,” he said.

Mortgages

Housing Wire

FEBRUARY 2, 2024

With ongoing liquidity challenges and a continuing lag in Home Equity Conversion Mortgage (HECM) case numbers, reverse mortgage business in 2024 started off with a bit of a whimper. Seasonality is in our favor now and the significant drop in the 10-year CMT is a huge help,” he said.

Mortgages

Housing Wire

OCTOBER 16, 2023

This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. We have to help first-time buyers see the bigger picture by highlighting the advantages of homeownership, such as building equity, tax benefits, and potential appreciation in property value.

Agents

HomeLight

DECEMBER 2, 2021

Sample seller expenses for a $453,300 house. Cost to seller. Seller concessions. According to Caldwell, today’s buyers look for turnkey homes, not sweat equity. But in Texas, the seller customarily pays for the owner’s policy while the buyer pays for the lender’s policy. Seller concession.

Seller concession

Realty Biz

JULY 31, 2023

The idea is that you create enough equity when you renovate the property to then take a cash-out refinance once renovations are finished. Negotiate a Seller Concession As my grandfather taught me growing up, you don’t get what you deserve in life; you get what you negotiate. Not all sellers will consider it, of course.

Seller concession

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%.

Seller concession

Realty Biz

MAY 24, 2021

To cover closing costs, negotiate a seller concession. As publicly traded equities, they fall under the SEC’s regulation, which means these REITs must make a great deal of information public and transparent. Another coin with two sides is regulation.

Earnest money deposit

Real Trends

OCTOBER 16, 2023

This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. We have to help first-time buyers see the bigger picture by highlighting the advantages of homeownership, such as building equity, tax benefits, and potential appreciation in property value.

Agents

HomeLight

APRIL 14, 2023

Other closing costs generally incurred by California home sellers include transfer taxes , property taxes, and mortgage loan payoff. Common seller concessions include home warranty, home inspection fees, repair credits, and insurance for earthquakes and other natural disasters. The rate could go from 7% to 6.5%

Closing costs

HomeLight

SEPTEMBER 30, 2021

If they are unwilling to budge on price, you can also renegotiate seller concessions. With seller financing (a “seller carryback”), you take out a private mortgage between you and the seller. MLS printouts of these comps with sales data and seller concessions.

Pre-approval

Realty Biz

SEPTEMBER 4, 2023

To cover closing costs, negotiate a seller concession. As publicly traded equities, they fall under the SEC’s regulation, which means these REITs must make a great deal of information public and transparent. Another coin with two sides is regulation.

Earnest money deposit

HomeLight

FEBRUARY 25, 2022

Life happens, but there are options other than selling to help you build up enough equity in your home before putting it on the market. Seller concessions (2% – 6%). Sometimes the need to relocate less than five years after purchasing a home cannot be avoided. A possible second set of closing costs if buying a new home.

Seller concession

HomeLight

APRIL 17, 2024

They also estimate 1% in seller concessions if you list with them, but there’s no cancellation fee. This frees up the equity in your old home for a new down payment. A proven agent can help you price your home competitively, negotiate for a longer rent-back period if needed, and get more seller concessions.

Seller concession

HomeLight

AUGUST 28, 2020

That extra MI cost could override any savings you’d see from discount points — at least until you hit 20% equity on your home, and get rid of your MI payments. I’ve never purchased a home without the seller paying at least 3%,” he adds. A seller concession may be the best of both worlds for the savvy homebuyer.

Mortgages

HomeLight

SEPTEMBER 10, 2022

You may find other alternatives that are a better fit for your situation, such as: Rent out your home: You might need to sell but don’t have enough equity or money to pay the seller’s fees in order to complete the transaction. Seller concessions (2% to 6% to financially help the buyer).

Closing costs

HomeLight

MARCH 13, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. Recently, a blazing hot real estate market and steep rise in equity adds extra incentive to maximize profits.

MLS

HomeLight

OCTOBER 11, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Iowa real estate market and a steep rise in equity added extra incentive to maximize profits.

Purchase and sale agreement

Redfin

JUNE 28, 2022

Seller concessions. If you haven’t built adequate equity in your home, it may not make financial sense to sell. You can estimate your equity by subtracting what you owe on your home loan from the potential sales price. Landscaping and lawn care. Home staging, photographs, and cleaning services. Potential tax bill.

Staging

HomeLight

OCTOBER 11, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Michigan real estate market and a steep rise in equity added extra incentive to maximize profits.

Purchase and sale agreement

Redfin

DECEMBER 27, 2023

“Looking ahead, whether interest rates will fall depends on two things: the strength and resiliency of the economy, and consumer behavior,” notes Matt Birdseye, Executive Vice President at Bay Equity , a Redfin company. In fact, by November, more than one-third of all home sellers gave concessions – down from the record 45.6%

Marketing

HomeLight

DECEMBER 8, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Washington State real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS

HomeLight

APRIL 13, 2023

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the previously hot Kansas real estate market and a steep rise in equity added extra incentives to maximize profits.

MLS

HomeLight

NOVEMBER 21, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Louisiana real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS

HomeLight

DECEMBER 6, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Oregon real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS

HomeLight

SEPTEMBER 30, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Wisconsin real estate market and a steep rise in equity added extra incentive to maximize profits.

Purchase and sale agreement

HomeLight

OCTOBER 1, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Ohio real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS

HomeLight

OCTOBER 14, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Pennsylvania real estate market and a steep rise in equity added extra incentive to maximize profits.

Purchase and sale agreement

HomeLight

DECEMBER 13, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Virginia real estate market and a steep rise in equity added extra incentives to maximize profits.

Purchase and sale agreement

HomeLight

NOVEMBER 23, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot West Virginia real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS