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Better launches fully digital VA loan with no minimum down payment

Housing Wire

Department of Veteran Affairs (VA) loans through its Tinman platform. We’ve been working toward launching a VA product for the past two years,” Vishal Garg, founder and CEO of Better, said in an interview with HousingWire. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said.

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All-cash transactions gain traction amid high mortgage rates: Redfin

Housing Wire

FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S. Meanwhile, military VA loans represented 6.3% in April 2023. a year earlier.

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Housing authorities and lenders added 54 homebuyer assistance programs in Q3: report

Housing Wire

housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Program providers are working around the clock to ensure the programs they offer meet the needs of their markets.

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The mortgage market just had its strongest week in months

Housing Wire

Total home loan applications increased 2.8% Slower inflation and the confidence financial markets have that we are nearing the end of the Fed ’s hiking cycle has brought mortgage rates to the lowest level since August. The share of Federal Housing Administration (FHA) loan activity increased to 15%, down from 13.5%

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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As mortgage rates near 8%, loan originators target first-time homebuyers

Housing Wire

But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So They are staying busy relative to the market,” Ullmann said.

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High mortgage rates sideline homeowners from tapping home equity: ICE

Housing Wire

Mortgage originations Purchase lending dominated the market overall, driving 86% of all first-lien lending in the third quarter. In 2024, roughly 75% of originations expected to come from purchase loans. in October, also a series high, while the average among FHA and VA loans hit 45.5% for FHA loans and 44.5%

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