Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

Agents 527

Agents Seller concession VA loan Finance 527

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. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 464

Mortgages VA loan Finance Loans 464

Real Trends

DECEMBER 14, 2022

For many homebuyers and housing industry professionals, there are lots of myths and misunderstandings about the VA loan and lending process. Vetted VA seeks to change that narrative. Learning the ropes of VA loans. Financing options available to veterans. said Griffith.

VA loan 103

VA loan Loans Lending Loan Officer 103

Housing Wire

JANUARY 26, 2022

Tomo , a fintech mortgage startup run by former Zillow executives, is expanding its presence, announcing this week that it will now serve borrowers in Florida, Connecticut and Colorado. And they’re looking to capitalize on higher home prices and the market for jumbo mortgages. Refinancing is also not an option.

Mortgages 363

Mortgages VA loan Pre-approval Lending 363

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

VA loan 393

VA loan Agents Pre-approval Debt-to-income ratio 393

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Loans 414

Loans Mortgages Lending Marketing 414

Housing Wire

MAY 23, 2022

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. Currently, all VA appraisals must be performed in-house. In March 2022 , the Federal Housing Finance Agency (FHFA) made hybrid appraisals a permanent fixture. The policy now expires on December 31, 2022.

VA loan 393

VA loan Loans Lending Finance 393

Housing Wire

SEPTEMBER 23, 2020

And while regulators and lending institutions generally share a common understanding of fair lending pitfalls and what might constitute HMDA violations, fair servicing compliance is still a moving target. Outstanding FHA and VA loans make up about 20% of the market. Consumers and fair servicing problems.

Loans 368

Loans VA loan Lending Technology 368

HomeLight

NOVEMBER 6, 2023

Skyrocketing mortgage interest rates can make homeownership seem like an elusive dream. For some home shoppers, there’s a potential solution: assumable mortgages. Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate.

FHA loan 103

FHA loan VA loan Mortgages Marketing 103

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof. .”

Loans 280

Loans VA loan Mortgages Lending 280

HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

Loans 99

Loans Purchase and sale agreement VA loan Mortgages 99

Eye on Housing

JANUARY 26, 2024

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% of new home sales in 2023—a 1.3 Read More ›

VA loan 113

VA loan Sales Finance Loans 113

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Mortgage Options During Chapter 13 Bankruptcy. Most lenders will want people to wait two years after Chapter 13 Bankruptcy discharge before they will approve you for a mortgage.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Realty Biz

JANUARY 3, 2023

Anybody who’s thinking about buying a home might be interested in knowing the average mortgage rate. As of January 2023 , the average mortgage rate sits right around 6.59%. With mortgage interest rates rocketing upwards, many potential home-buyers are looking for advice on what to do. Continue reading to learn more.

Mortgages 97

Mortgages VA loan Loans FHA loan 97

Realty Biz

MARCH 28, 2023

Owner-occupied homes are ideal for real estate investors because they can help you meet your investment goals in several different ways, most often through advantageous financing options. This results in you being a better risk than if you were financing a second property you wouldn’t be living in.

VA loan 76

VA loan FHA loan Debt-to-income ratio Investor 76

Realty Biz

FEBRUARY 7, 2023

We will discuss how to search for a lending institution you will love. Some people will search for mortgage lenders near me if they want their bank to be nearby. We will take you through the steps for choosing the best lender for your finances. For example, do you want a 30-year fixed or adjustable-rate mortgage?

Pre-approval 75

Pre-approval Mortgages Pre-qualification VA loan 75

Rent, Buy & Sell

FEBRUARY 7, 2021

In this article, we review 3 alternative financing options for the home buyer that has bad credit. As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. Private or Hard Money Loan.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Housing Wire

JULY 12, 2023

In other words, nearly nine out of every 10 mortgages originated is a purchase loan. Rate lock activity fell 1% month over month in May, with conforming loans gaining share mainly at the expense of non-conforming loan products. The benchmark 30-year mortgage finished the month 6 basis points (bps) higher at 6.78%.

Marketing 362

Marketing Loans Lending Mortgages 362

Realty Biz

DECEMBER 12, 2022

There is quite a bit to know about financing the purchase of a home. There are several things to consider when it comes to getting a mortgage. Most home buyers want to get the best mortgage rates and terms. We will cover everything you need to know about how to get a mortgage. What is a Mortgage? Let's dig in.

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 88

Norada Real Estate

MAY 3, 2023

Real estate loans are a crucial part of the real estate industry, providing investors with the necessary funds to purchase, renovate, or refinance properties. From conventional loans to government-backed FHA and VA loans, there are various types of real estate loans available in the market.

Loans 52

Loans VA loan FHA loan Hard money loan 52

Realty Biz

JULY 23, 2023

Understanding the implications of 1099 income on mortgage loans is crucial. Government-backed and conventional mortgage options, as well as home equity for down payment assistance, are available. Recent changes and technological advancements are shaping the lending landscape.

Debt-to-income ratio 70

Debt-to-income ratio FHA loan Lending Loans 70

RIS Media

MARCH 31, 2022

Today, fair lending is the law, and the VA Home Loan Guaranty program is a vital homeownership tool offering all qualified veterans a centralized, affordable and accessible method of purchasing homes as a benefit for their service. The loan program provides many unique benefits, including: No down payment requirement.

VA loan 98

VA loan Loans Closing costs Lending 98

HomeLight

OCTOBER 15, 2020

Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? Here’s what you need to know.

Loans 95

Loans FHA loan Debt-to-income ratio VA loan 95

RIS Media

DECEMBER 19, 2020

Pre-qualifying for a mortgage is often the first step toward owning a home. Here’s some information that can help you to figure out how and when to apply for a loan this year: Pay Attention to Falling Rates. Look at Loan Types. Other borrowers might be better served by VA loans or even conventional loans.

Loans 105

Loans Pre-approval Pre-qualification VA loan 105

RIS Media

AUGUST 5, 2020

Just 6 percent and 2 percent of Asian loan applications are for FHA loans and VA loans, respectively. A desire to avoid the additional paperwork and requirements of FHA loans, or sellers’ aversion to working with FHA-financed buyers in highly competitive markets. billion in potential loans.

VA loan 95

VA loan FHA loan Pre-qualification Pre-approval 95

Redfin

MAY 11, 2022

Mortgage lenders and the Federal Housing Administration (FHA) look at a credit score range when considering a home mortgage loan. A credit score between 580-669 ranks your credit as “fair” and is regarded as a higher risk for a mortgage lender. Scores this low can make finding a home loan challenging but not impossible.

Pre-approval 65

Pre-approval Debt-to-income ratio VA loan FHA loan 65

Easy Agent Pro

JULY 14, 2020

Real estate news – No more DTI ratios for mortgages? A couple of weeks ago the Consumer Financial Protection Bureau announced their desire to do away with using “… DTI as a factor in mortgage underwriting” for qualified mortgages , according to HousingWire.com’s Kelsey Ramirez. Yeah, I don’t remember saying that either.

VA loan 65

VA loan FHA loan Loans Agents 65

HomeLight

MAY 26, 2021

She also conducts monthly webinars for first-time homebuyers with the New Jersey Housing and Mortgage Finance Agency and the Puerto Rican Action Board. It also reassures them that you are less likely to stop making payments on the loan, sending the home into foreclosure. Do you make around a median income for your area?

Debt-to-income ratio 91

Debt-to-income ratio Closing costs VA loan Loans 91

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Ginnie Mae is wholly owned by the federal government.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

The Close

NOVEMBER 25, 2022

This is a niche with recession-proof buyers, zero percent financing, and hot leads that need to close quickly. Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment!

VA loan 74

VA loan Loans Loan Officer Finance 74

HomeLight

JANUARY 22, 2024

This oftentimes will have to do with unique circumstances that don’t really lend themselves to renovating a property for sale. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is 90

As-is Inspection Equity Renovation 90

RIS Media

MAY 19, 2021

Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Here’s how you can explain it to your buyers: 1.

Closing costs 116

Closing costs Closing VA loan Pre-approval 116

HomeLight

SEPTEMBER 30, 2020

First-time buyers put down an average of 6% and financed 94% of their home purchase. Repeat buyers put down an average of 16% and financed 84% of their home purchase. FHFA National Survey of Mortgage Originations . The survey looks at loan-to-value (LTV) ratios. He says it’s all about financing.

FHA loan 58

FHA loan Finance Loans VA loan 58

Realty Biz

APRIL 4, 2023

The US Department of Veterans Affairs offers all kinds of help to US military veterans, but one of the most helpful is certainly how vets looking to purchase a property can rely on the VA’s loan program to access highly affordable mortgage lending at attractive rates. What Are VA Loans?

Lending 80

Lending VA loan Mortgages Principal 80

HomeLight

JANUARY 12, 2022

But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Conventional loan. 1 and accept an offer on Jan.

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Closing Purchase and sale agreement Pre-approval Inspection 111