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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

Chris Porter, a senior vice president at the firm and the author of the latest outlook, said this correlates with buyers dedicating more of their income to housing and seeking accessible financing options. Department of Veterans Affairs (VA) loans, which made up 10%, according to purchase loan lock data from Optimal Blue.

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ICE: First-time homebuyers account for record share of agency lending in Q1 2025

Housing Wire

Intercontinental Exchange ‘s May 2025 Mortgage Monitor Report, released Monday, found that first-time homebuyers accounted for a record share of agency purchase lending (58%) in the first quarter 2025. They accounted for a record 82% of agency lending in 2023, more than 75% in 2024 and nearly three-quarters in Q1 2025.

Lending 355
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Cardinal Financial issues first mortgage-backed security using FICO 10 T

Housing Wire

By helping to enable smarter, more precise lending decisions, FICO is driving innovation that supports both financial institutions and the communities they serve. Cardinal claims to be one of the first lenders to adopt FICO 10 T for its nonconforming loans. In October, Cardinal started using the model to originate VA loans.

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Better launches fully digital VA loan with no minimum down payment

Housing Wire

Department of Veteran Affairs (VA) loans through its Tinman platform. We’ve been working toward launching a VA product for the past two years,” Vishal Garg, founder and CEO of Better, said in an interview with HousingWire. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said.

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As the VA loan turns 80, its economic impact is in the trillions

Housing Wire

An analysis released Wednesday by Columbia, Missouri -based lender Veterans United Home Loans revealed that the home loan program through the U.S. Department of Veterans Affairs (VA) has contributed $3.9 The VA loan program — which was established in 1944 through the GI Bill — will celebrate its 80th anniversary on June 22.

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Will rising interest rates impact VA loans for first-time homebuyers?

Housing Wire

The VA loan is an important financing tool for VA-eligible borrowers to achieve their homeownership dream. In 2021 one in two VA borrowers was a first-time homebuyer (FTHB). . The average VA FTHB’s interest rate was 2.90% and the quarterly FTHB VA purchase loan volume stayed elevated.

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Mortgage demand rises amid lowest rates in a month

Housing Wire

In 2025, jumbo loans will increase to a minimum size of $806,501 — a 5.2% increase from the current floor that is consistent with home-price increases , according to an announcement last week from the Federal Housing Finance Agency (FHFA). But government loans trended slightly upward. in the prior week. the previous week.

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