Housing Wire

MARCH 11, 2024

Purchase lock counts, which control for changing home prices, rose 7% from January. As the spring buying season commenced, we saw a resurgence in purchase locks, despite the rise in interest rates,” said Brennan O’Connell, director of data solutions at Optimal Blue. for rate-and-term refis and by 3.1% for cash-out loans.

VA loan 433

VA loan FHA loan Loans Lending 433

Housing Wire

OCTOBER 30, 2023

loanDepot has rolled out a new down payment assistance program for Federal Housing Administration (FHA) loan borrowers that enables them to put zero money down upfront. The program is available nationwide through the retail channel for first-time and repeat homebuyers applying for FHA 30-year, fixed-rate purchase loans.

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FHA loan Loans Lending Finance 469

Housing Wire

APRIL 11, 2023

Misinformation is spreading on TikTok about the Federal Housing Administration ‘s (FHA) recent increase to the maximum mortgage modification term, causing confusion for homebuyers. This makes the monthly payments more affordable, the FHA said in March. “Right now, a 30-year FHA loan for $500,000 at 6.7%

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FHA loan Mortgages Loans Development 383

Housing Wire

FEBRUARY 28, 2024

“Higher rates in recent weeks have stalled activity, and last week it dropped more for those seeking FHA and VA refinances,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in a statement. The Federal Housing Administration (FHA) share of total applications decreased to 13% last week, down from 13.2%

Mortgages 367

Mortgages Fixed-rate mortgage Loans Residential 367

Housing Wire

FEBRUARY 20, 2024

Expanding H4P focus The company is also taking a strategic look at expanding its business in the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) area, a severely under-utilized variation of the traditional Federal Housing Administration (FHA)-sponsored HECM that allows borrowers to purchase a new home using a reverse mortgage.

Mortgages 386

Mortgages Lending Equity Industrial 386

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. FHA guidelines require a two-year work history and allow for a gap of one month or longer in employment with a letter of explanation.

Loan Officer 376

Loan Officer FHA loan Loans Mortgages 376

Housing Wire

OCTOBER 14, 2022

The Mortgage Bankers Association and fellow trade group the Black Homeownership Collaborative have joined the chorus of voices imploring HUD Secretary Marcia Fudge to reduce mortgage insurance premiums (MIPs) and suspend life-of-loan requirements for borrowers with FHA-insured loans.

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FHA loan Loans Mortgages Industrial 413

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. 4-7, in Las Vegas. “We’re people who have been around for a while.

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Mortgages VA loan Finance Loans 469

Housing Wire

DECEMBER 18, 2020

Renting your home out on Airbnb can be a smart way to make some extra cash. But buying an Airbnb property isn’t quite the same as buying a new home to live in. But buying an Airbnb property isn’t quite the same as buying a new home to live in. Are you thinking of buying a house to rent out on Airbnb?

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FHA loan Hard money loan Loans Finance 462

Housing Wire

SEPTEMBER 22, 2023

However, a silver lining in the subdued housing market is the strength in new-home sales. Builders are providing rate buy-downs for first-time homebuyers, which aligns with their interests, Duncan explained. That is they weren’t buying for risk-return metrics; they were buying to affect the structure of markets.

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Housing Wire

MARCH 21, 2024

While reverse mortgage volume in 2024 got off to a rocky start, new data that breaks out retail Home Equity Conversion Mortgage (HECM) endorsements versus wholesale production showed that it was the former that took the bigger hit in the first month of the year, based on new data compiled by Reverse Market Insight (RMI). on a per-unit basis.

Mortgages 376

Mortgages Loans Equity Principal 376

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

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FHA loan Debt-to-income ratio Pre-approval VA loan 368

Housing Wire

MARCH 16, 2022

Latinos are twice as likely to use Federal Housing Administration financing than non-Hispanic white borrowers, but most of the real estate agents the National Association of Hispanic Real Estate Professionals surveyed felt FHA borrowers were at a competitive disadvantage. FHA offers were being eliminated, even if it was a strong offer.”.

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Investor Loans Mortgages Finance 380

Housing Wire

NOVEMBER 16, 2020

When you get a mortgage, there are several options you can choose from, including FHA, VA, USDA, and conventional mortgages. But choosing the right mortgage product can be difficult — especially if you’ve never bought a home before. Just need help deciding which program is the best fit for your upcoming home purchase?

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VA loan FHA loan Mortgages Loans 481

Housing Wire

MAY 11, 2022

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. Despite a slow start to this year’s spring home buying season, prospective buyers are showing some resiliency to higher rates. The FHA share of total applications fell to 10.5%

Mortgages 427

Mortgages Fixed-rate mortgage Loans Residential 427

Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. How much house can you afford to buy? Here’s Why You Should Buy.

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Housing Wire

MAY 12, 2021

Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing. The rest of this content is for HW+ members.

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Loans FHA loan Mortgages Construction 427

Housing Wire

JANUARY 17, 2024

This cohort accounted for 1,950,000 properties — equating to 39% of total homes purchased! They own the home with their name on the title, as with any mortgage, traditional or reverse. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ).

Finance 443

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Housing Wire

DECEMBER 2, 2020

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday. The Conquest FHA announcement is the latest in a series of UWM product launches in 2020.

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FHA loan Loans Mortgages Loan Officer 475

Housing Wire

NOVEMBER 16, 2020

If you’re using a home loan to buy a house, then you could have two types of insurance in your future, home insurance and mortgage insurance. Home insurance is also called homeowner’s insurance or hazard insurance. Here’s what you need to know if a home purchase is on your radar. But mortgage insurance?

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FHA loan Mortgages Loan Officer Loans 437

Housing Wire

AUGUST 10, 2023

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. My wife and I currently live in an Auction-purchased home,” said Dwayne, a survey respondent from Maryland. “We

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Renovation Development Rent back Principal 353

Housing Wire

JUNE 3, 2022

The loans in the offering were all originated through the Federal Housing Administration (FHA) and later securitized through Ginnie Mae. Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. million, with all the loans deemed delinquent. In total, 99.3%

Loans 377

Loans FHA loan Principal Marketing 377

Housing Wire

AUGUST 24, 2023

The national median mortgage payment for FHA loan applicants was $1,854 in July, up from $1,824 in June and up from $1,461 in July 2022. Considering that mortgage rates will most likely remain elevated until the end of the year, “affordability will remain a hurdle for many households looking to buy a home,” he added.

Mortgages 367

Mortgages FHA loan Loans Sales 367

Housing Wire

FEBRUARY 28, 2024

California is home to roughly 39 million people, making it by far the nation’s most populous state. of its occupied homes were owner-occupied, the third lowest percentage in the U.S. Landing a California home is hard and expensive – especially in San Diego. Mortgage With fewer listings come fewer home sales.

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Housing Wire

NOVEMBER 17, 2021

Meanwhile, applications to purchase a new home declined 6% in one year. Activity has been particularly sensitive to rate movements , and last week’s decline was driven by a drop in conventional and FHA refinance applications, which offset an increase in VA refinance applications,” said Kan. . Meanwhile, FHA loans went from 8.8%

VA loan 417

VA loan FHA loan Investor Loans 417

Housing Wire

JANUARY 19, 2022

Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement. The continued rise in purchase loan application sizes is driven by high home price appreciation and the lack of housing inventory on the market – especially for entry-level homes,” Kan said.

Loans 392

Loans Mortgages VA loan Fixed-rate mortgage 392

Housing Wire

MARCH 2, 2022

As of December 2021, 7.28% of FHA loans were seriously delinquent, down from a seasonally adjusted high of 12.04% in March 2021, according to FHA’s latest report. Marcia Fudge said that the agency had “no near-term plans” to change FHA’s mortgage insurance premium pricing.”. FHA foreclosures’ glacial rise.

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FHA loan Loans Principal Mortgages 270

Housing Wire

MARCH 1, 2021

But make no mistake: They’re not your only option when buying or refinancing a home. Are you currently thinking about buying a home or refinancing your existing mortgage? How much house can you afford to buy? If you can find a home in a USDA-eligible area, you’ll definitely want to give these loans a look. (And

Mortgages 427

Mortgages VA loan Loans Loan Officer 427

Housing Wire

SEPTEMBER 16, 2020

Applications to buy a home also decreased last week, but the underlying trend remains strong ,” Kan said. Here is a more detailed breakdown of this week’s mortgage application data: The FHA ’s share of mortgage apps decreased to 9.7% However, the purchase index was 6% higher than the same week last year. of total applications.

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Fixed-rate mortgage Mortgages Loans Industrial 534

Housing Wire

AUGUST 28, 2023

Established in 1995 by brothers Steven and David McCormick, First Centennial Mortgage offers a wide range of mortgage products, including conventional, FHA, VA building and construction, per the mortgage data platform Modex. Since December 2022, Guild has closed deals with Inlanta Mortgage , Legacy Mortgage and Cherry Creek Mortgage.

Mortgages 362

Mortgages Loan Officer Construction Loans 362

Housing Wire

FEBRUARY 17, 2021

Conventional and government applications to buy a home declined last week, but purchase activity overall is still strong – up 15% from last year,” Kand said. The FHA share of total applications decreased to 9% from 9.5% the week prior. The average contract interest rate for 5/1 ARMs decreased to 2.83% from 2.92%.

Fixed-rate mortgage 433

Fixed-rate mortgage Mortgages Loans Industrial 433

Housing Wire

SEPTEMBER 23, 2020

However, last week Kan noted that while conventional and government refinances gained steam, FHA refis experienced a particular uptick. Here is a more detailed breakdown of this week’s mortgage application data: The FHA’s share of mortgage apps rose to 10.1% The adjustable-rate mortgage (ARM) share of activity fell slightly to 2.2%

Fixed-rate mortgage 535

Fixed-rate mortgage Mortgages Marketing Loans 535

Housing Wire

APRIL 24, 2023

Home equity is also the primary source of wealth for most Americans. Roosevelt enacted the Federal Housing Administration (FHA) as part of the New Deal to provide small down payment home loans for working-class Americans. Between the launch of FHA in 1934 and when President Lyndon B. President George W.

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Housing Wire

FEBRUARY 5, 2021

According to a recent Realtor.com survey , almost 95% of homebuyers consider their pets when purchasing a home. Purchasing your first home is an exciting time. Whether you’re shopping for a fixer-upper or a home with a modern exterior, there’s nothing like finally being able to check the “buy a house” box off your bucket list. .

Mortgages 473

Mortgages As-is Marketing 473

Housing Wire

SEPTEMBER 9, 2020

With home purchase sentiment climbing, bidding wars and consumers borrowing up to pre-pandemic pacing, it may be no surprise that purchase applications were also on the rise last week, gaining 3% from one week earlier on a seasonally adjusted basis, and 40% higher than the same week a year ago – the 16th straight week of year-over-year gains.

Fixed-rate mortgage 394

Fixed-rate mortgage Mortgages Marketing Loans 394

Housing Wire

MARCH 25, 2021

If you’re a first-time homebuyer (or you already own a home), you’ve heard of mortgage loans. You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier. Haven’t heard of them?

Loans 542

Loans VA loan FHA loan Finance 542

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

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