Norada Real Estate

JULY 5, 2025

For example, lower down payment requirements and competitive interest rates make FHA loans appealing to many individuals entering the housing market. New Construction Projects: As demand increases for new homes, builders are likely to ramp up construction projects to satisfy market needs.

VA loan

Housing Wire

MAY 13, 2025

It is calling for the rescission of regulations on energy efficiency standards for new construction and floodplain/wetlands management, citing increased costs to the industry. Additionally, the MBA is pushing for expedited revisions to the Federal Housing Administration (FHA)s claims curtailment policies.

Mortgages

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% On an unadjusted basis, MBA estimates that there were 56,000 new home sales in July 2023, a decrease of 6.7% of loan applications.

New Construction

Housing Wire

SEPTEMBER 14, 2023

On an unadjusted basis, MBA estimates that there were 59,000 new home sales in August 2023, an increase of 5.4% from 56,000 new home sales in July. By product type, conventional loans made up 65.8% of loan applications. Meanwhile, FHA loans comprised 23.8%

New Construction

Housing Wire

FEBRUARY 16, 2024

Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. Mortgage applications for new home purchases rose 19.1% In January, conventional loans accounted for 64.5% of loan applications for new homes. of applications, U.S.

VA loan

Housing Wire

OCTOBER 19, 2021

“New home sales purchase activity was weaker in September, and the average loan size rose to another record high, as homebuilders continue to grapple with rising building materials costs and labor shortages. The estimated pace of new home sales decreased 3.5% and RHS/USDA loans made up the final 0.5%.

VA loan

Housing Wire

APRIL 16, 2024

Federal Housing Administration (FHA) loans accounted for 26.4% Department of Veteran Affairs (VA) loans took a 10.4% Department of Agriculture (USDA) loans accounted for 0.3%. The average loan size for new homes decreased from $405,719 in February to $405,400 in March. of applications , U.S. share, and U.S.

VA loan

Housing Wire

JUNE 17, 2021

According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the the fourth consecutive month of rising loan sizes and a new survey high. By product type, conventional loans made up 743.9% of loan applications, FHA loans composed 14.8%, RHS/USDA loans cam in around 0.9%

Sales

Housing Wire

AUGUST 22, 2022

“The slide in purchase applications for new homes – now down for the fourth consecutive month and 16% lower than a year ago – is consistent with data on declining homebuilder sentiment and slowing permitting activity for new construction.”. from the revised 56,000 new home sales in June. and VA loans composed 11.4%.

VA loan

Housing Wire

JULY 26, 2021

Zillow Economist Matthew Speakman said demand for new homes should remain hot, as home shoppers continue to favor new construction as an alternative to the “ultra-competitive” resale sector. By product type, conventional loans were 74.4% That pace for the Northeast, specifically, is down 27.9% from June 2020.

Sales

Housing Wire

SEPTEMBER 22, 2023

Kim: The silver lining in the current housing market is an uptick in new construction sales due to a lack of existing-home inventory. Kim: I notice a lot of independent mortgage banks roll out down payment assistance (DPA) programs for conventional loans. DPA programs were predominantly for FHA loans.

FHA loan

Housing Wire

JANUARY 10, 2022

More inventory is expected from three sources: new single-family construction, ‘pent up’ sellers who had delayed selling during the pandemic and will be ready to move in the spring and borrowers who had exited from forbearance but continue to struggle to remain current.

Marketing

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

FEBRUARY 1, 2023

FBC Mortgage recorded originations of about $8 billion in 2022, including its joint venture volume, Nunziata said, adding that about 70% of that volume “was new construction.” People pay a lot of attention to delinquency rates and FHA loans,” he said. “If

Marketing

Realty Biz

MARCH 29, 2021

When purchasing a brand new construction home, they are often covered by a warranty for about the first one or two years of ownership. It is not uncommon to see some new housing developments advertise that they offer a builder’s warranty. What is Covered in a New Construction Warranty?

New Construction

McKissock

MAY 6, 2022

New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. Those requirements can make it hard to find other new construction comparables.

New Construction

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

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

Housing Wire

MAY 31, 2022

“Providing affordable housing, especially in large markets like Chicago, is vital,” said Kurt Carlton, co-founder and president of New Western. When we help bring distressed properties back to the market, it’s up to 31% less expensive than a new construction home.”.

Mortgages

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

The total 203(k) loan amount can be either 110% of the home’s estimated value after repairs are done, or for the sales price of the home, plus whatever estimated repairs will cost — whichever amount is lower. Another cap on the loan amount involves the regional FHA loan limit. Who is eligible for a 203(k) loan?

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.

Earnest money deposit

RIS Media

SEPTEMBER 21, 2021

Unadjusted, MBA estimates there were 71,000 new-home sales in August 2021—an increase of 10.9% from 64,000 new-home sales in July. By product type: – Conventional Loans: 75.1% of loan applications. – FHA Loans: 13.8%. – RHS/USDA Loans: 0.6%. – VA Loans: 10.5%.

Mortgages

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. Will a builder pay closing costs on a new construction home in Michigan?

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.

Loans

Realtor.com

NOVEMBER 9, 2022

7), new construction is limited, so buyers are competing over a very small selection of properties. Down payments are lowest in places with the most VA and FHA loans. In metros with the lowest down payments, federally backed loan assistance programs play a big role. In the Colorado city (No. In Odessa, TX (No.

VA loan

Marco Santarelli

DECEMBER 12, 2024

Government-Backed Loan Programs: The availability of programs like VA and FHA loans makes it easier for certain populations to buy homes in these markets, leading to increased homeownership. New construction also plays a role in adding more inventory, creating a healthy market dynamic.

VA loan

HomeLight

APRIL 14, 2023

If it’s a VA loan, it’s called the VA Funding Fee. And if it’s a Federal Housing Administration (FHA) loan, then it’s called Mortgage Insurance Premium (MIP). Will a builder pay closing costs on a new construction home in Georgia: Typically, yes. Each comes with its own set of requirements.

Closing costs

Realty Biz

SEPTEMBER 23, 2023

The amount required for a down payment can vary based on factors such as the type of loan, your credit history, and the lender's requirements. Standard financing options for homebuyers include conventional loans, FHA loans , VA loans, and USDA loans.

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. However, remember that a larger down payment often means lower interest rates and monthly payments.

Closing costs

The Close

JUNE 15, 2022

FHA loans. FHA vs conventional loans. New constructions homes 39. Who pays closing costs? Best time to sell a house 63. What to look for when buying a house. Should I hire a Realtor? Closing costs for seller 44. Best time to buy a house 64. How to choose a Realtor 25. Staging a house 65. Home estimate 58.

Closing costs

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. In turn, you may need to show proof of funding for those repairs before the loan is approved. .

Construction

Redfin

AUGUST 2, 2022

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. Some lenders may require you to have a 20% minimum downpayment or a higher interest rate to offer you a loan.

VA loan

Housing Wire

SEPTEMBER 14, 2023

Black/African-American buyers who have not been approved for a loan are more likely than other racial or ethnic groups to have been denied due to low credit scores, at 32% versus 17% or less for the other racial and ethnic groups. First time buyers (54%) are more than twice as likely as repeat buyers (22%) to consider an FHA loan.

FHA loan

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. It’s also worth noting that some government-backed loan programs, such as FHA loans, may have lower credit score requirements.

Pre-approval

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% down payment minimums.

FHA loan

Housing Wire

OCTOBER 21, 2020

He said as builders work to replenish the supply with new homes, the most recent census data shows a 1.1 million annualized pace for new construction — the highest level since 2007. MBA Associate Vice President of Industry Analysis Joel Kan explained that current inventory rests at just a three-month supply.

Mortgages