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. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.
Housing Wire
NOVEMBER 7, 2023
VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. These clients are typically low on funds, which is why they need this type of financing.
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Housing Wire
OCTOBER 21, 2022
In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Rocket launched a similar product in September. Presented by: Polly.
Housing Wire
NOVEMBER 16, 2022
“With the rising rates throughout 2022, and the pace of home sales slowing as a result, many lenders are providing seller concessions to encourage buyers to strike a deal. Buyers are often using that concession to reduce their mortgage payments during the first one to three years through a temporary buydown,” Johnson said.
Housing Wire
AUGUST 25, 2022
. “For some smaller originators, it could kind of move the needle,” said Bose George, mortgage finance analyst at Keefe, Bruyette & Woods (KBW). The obvious starting place for nonbank lenders looking to capture volume is in jumbo lending, executives and analysts said. ” Just a little less vanilla.
Housing Wire
OCTOBER 16, 2023
Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. Let’s use $10,000 as an example.
Housing Wire
APRIL 12, 2023
In a high-rate environment, lenders call the temporary rate buydown a win-win strategy for both sellers and buyers when used appropriately. For example, a 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession.
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