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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing?

Finance 427
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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. These clients are typically low on funds, which is why they need this type of financing. Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.”

VA loan 442
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Rocket launches program to lower first-year mortgage payments

Housing Wire

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 392
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Selling a House in Delaware? You’re on the Hook for These 9 Closing Costs and More

HomeLight

It’s customary for the seller to pay for closing costs like title search, title insurance, and transfer taxes. We’ll break down seller closing costs with insight from Peggy Centrella , a top Delaware real estate agent ranked in the top 5% of real estate agents in her market area. Seller concessions. Property taxes.

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Fees and Costs Associated With Selling a House in 2023

HomeLight

Staging and prep costs 1%-4% Inspections and repairs varies Title, settlement, and taxes 1%-3% Seller concessions 0%-6% Get a Free Home Value Estimate Enter a few details about your home and we’ll provide you with a preliminary estimate of home value in less than two minutes. Enter your address to get started.

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Can You Sell a Home in Foreclosure? Why Time Is of the Essence

HomeLight

If you list too late in the foreclosure process, you won’t have time to prep the house, and you’ll have to list at a lower than market value price just to get it to sell in time to beat the foreclosure clock. Get your house on the market so you have the time to sell at a fair price.”. You’re not alone in facing foreclosure.

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Onto the Next: What to Know Before Selling Your Recently Purchased Home

HomeLight

If you want to, you could sell your house immediately after the paperwork says it is officially yours,” says Kimberly Porter, CEO of Microcredit Summit , a top personal finance publication. Or perhaps it is just a seller’s market and selling makes sense, even after a short time.”. Has your home appreciated enough to sell?