Housing Wire

NOVEMBER 16, 2023

FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% of all new-home purchase applications as homebuyers turned to new construction for more housing options. This is the highest share of FHA new-home purchase applications in a decade.

Mortgages

Housing Wire

DECEMBER 12, 2023

The gap peaked in November 2022, when the average note rate for new construction sales was one percentage point lower than the rate for existing home sales. Limited to loans with CLTV 76-80 and FICO 720-770 to control for the effect of loan level pricing adjustments. As of July 2023, the gap had slightly narrowed to 0.8

Debt-to-income ratio

Realtor.com

JANUARY 11, 2023

Getty Images Many first-time homebuyers might presume they’re better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. Unless you want to be waiting a long time to buy your first home, you should consider new-construction homes.

New Construction

Realty Biz

JULY 20, 2022

The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%. Their Section 502 Direct Loan Program generally has no down payment requirement to assist low and very low-income borrowers.

Loans

HomeLight

AUGUST 31, 2021

If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan. . It’s widely regarded as one of the best financing programs for people who want to buy, fix, and live in a home. What’s a 203(k) loan?

Loans

HomeLight

APRIL 14, 2023

If the total amount of your closing costs plus your down payment is financially overwhelming, sometimes lenders will allow you to add the closing costs into the total amount of your loan, thus reducing the amount of cash needed at closing. Can I add closing costs to my home financing? However, it doesn’t hurt to ask.

Closing costs

Realtor.com

NOVEMBER 28, 2022

While there are a variety of mortgages aimed at helping homebuyers afford a home—such as FHA loans and VA loans —one type that’s often overlooked are USDA loans, which offer excellent terms to those who qualify, including a 0% down payment and low interest rates. Must be without decent, safe, sanitary housing.

Loans

HomeLight

SEPTEMBER 1, 2022

Raymer says that for her clients, especially first-time buyers, she suggests an FHA loan, which only requires 3.5% FHA is really one of the best options,” she advises. An FHA loan is insured by the Federal Housing Administration and available from FHA-approved lenders. down payment. Closing date.

Earnest money deposit

HomeLight

APRIL 14, 2023

Can I add closing costs to my home financing? Keep in mind that if you opt to roll your closing costs into your financing, you’ll be paying interest on them for the life of the loan, costing you quite a bit more in the long run. If it’s a VA loan, it’s called the VA Funding Fee. In many cases, yes.

Closing costs

Realty Biz

SEPTEMBER 23, 2023

We will cover the difference between prequalification and pre-approval and provide information on down payment and financing options. Get it updated if you have not found a home to buy, Down Payment and Financing Options A critical aspect of the mortgage process is understanding the down payment requirements and available financing options.

Purchase and sale agreement

Marco Santarelli

AUGUST 3, 2024

Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment. How to Avoid: Compare Rates from Multiple Lenders: Contact multiple mortgage lenders to compare interest rates, fees, and loan terms.

Closing costs

Redfin

AUGUST 2, 2022

Financing a floating house. And if you’re considering a Federal Housing Administration (FHA) loan or a Department of Veterans Affairs (VA) loan, know that government-backed loans won’t finance a floating home. This will help keep your home at the right water level.

VA loan

Redfin

FEBRUARY 4, 2022

These qualities are what sets them apart from new construction, such as a modern craftsman home or ranch style house. But, buyers beware, owning a historic home isn’t always as easy and breezy as maintaining a newly constructed one. Getting financing and insurance can be more difficult.

Construction

Redfin

APRIL 21, 2023

The state has seen a significant increase in new construction, with builders developing homes in both urban and suburban areas to meet the demand for housing. Get your finances together It’s important to prioritize getting your finances in order when buying a house in Florida.

Pre-approval

Housing Wire

SEPTEMBER 14, 2023

Exploring finance options According to the Realtor survey, 77% of their prospective buyers who have applied for a loan, have been approved, while 6% have applied but been denied. Broken down on generational lines, 25% of Baby Boomers report not needing financing, compared with just 8% or less for younger generations.

FHA loan

Housing Wire

SEPTEMBER 20, 2024

But Broeksmit also expresses skepticism of Democratic presidential nominee Kamala Harris’ down payment assistance proposal, which he deems to be unnecessary due to the existence of FHA loan programs with 3.5% Next, the duo discusses the FHA 203(k) changes and the effects on overall housing supply. down payment minimums.

FHA loan

HomeLight

AUGUST 9, 2022

Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. How much you’ll put down depends on the specifics of your finances, and what kind of mortgage you’re getting. A VA loan provides 100% financing with no money down — so no down payment.

Earnest money deposit

Real Trends

SEPTEMBER 14, 2023

Exploring finance options According to the Realtor survey, 77% of their prospective buyers who have applied for a loan, have been approved, while 6% have applied but been denied. Broken down on generational lines, 25% of Baby Boomers report not needing financing, compared with just 8% or less for younger generations.

FHA loan

RIS Media

MAY 24, 2021

The down payment is the part of the home’s purchase price you pay upfront, rather than financing it through a mortgage. If you choose a conventional or FHA loan, a down payment is required. The amount of the down payment that’s needed is based on the home’s price and property type, as well as the loan product.

Closing costs