Housing Wire
FEBRUARY 7, 2023
of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. In a June 2022 letter, nonbank trade group Community Home Lending Association suggested increasing the lender fee to 2%, plus a $500 underwriting fee.
Housing Wire
NOVEMBER 7, 2023
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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Housing Wire
AUGUST 8, 2023
“While we continue the work of resetting our cost structure to align with generationally low unit volumes, we are also focused on the other pillars of Vision 2025, including capturing opportunities inherent in our strategy to expand purpose-driven lending that supports first-time homebuyers and diverse communities,” Martell said. million.
Realtor.com
AUGUST 1, 2018
Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded You can’t buy just any house with an FHA loan.
HomeLight
NOVEMBER 6, 2023
Rather than taking out a new loan at a high rate, the homebuyer can assume the interest rate, current principal balance, repayment period, and other terms of the seller’s existing mortgage. Here are some common types of mortgage loans and their assumability: 1. You will also be required to pay the standard 0.5% VA funding fee.
Housing Wire
AUGUST 16, 2022
s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the lending giant plans to shrink its enormous mortgage footprint , including a likely pull-back from the correspondent lending business. Unlike Fannie and Freddie, however, Ginnie does not purchase loans.
Housing Wire
FEBRUARY 1, 2023
Michael Neal, principal research associate at the Urban Institute ’s Housing Finance Policy Center, said research shows that rate buydowns that are longer-term, or even permanent, coupled with other down payment assistance, can help homeowners build equity, and consequently wealth, faster.
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