article thumbnail

NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). Department of Veterans Affairs (VA) loans.

VA loan 357
article thumbnail

How Much Your Inspection Will Cost, And What It Will Tell You

HomeLight

If you’re trying to save money or keep your costs down, you may wonder if you really need to have a home inspection done. So, why get a home inspection? And how much does a home inspection cost? What is a home inspection? After the inspection, they’ll give you an inspection report.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

When Is a House Down Payment Due and How Much Do I Need?

HomeLight

Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. Closings costs for buyers often clock in between 2% and 5% of the purchase price, and expenses beyond your down payment may include some (or all) of the following: Property inspections.

article thumbnail

Frequently Asked Questions about Buyers Agents in Real Estate

Realty Biz

The agent also helps with the paperwork, including making offers, reviewing contracts, and coordinating inspections and appraisals. 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.

article thumbnail

How Much Are Closing Costs in Pennsylvania?

HomeLight

Home inspections, earnest money, mover’s fees…the costs of buying a home in Pennsylvania can add up. However, some (such as inspection fees or application fees) con sometimes be paid upfront, depending upon the scenario. A conventional mortgage is any mortgage that’s not part of a government loan program.

article thumbnail

How Much Are Closing Costs in Florida?

HomeLight

Homebuyers typically order the home inspection soon after going under contract, and they pay the inspector upfront for the service, so it doesn’t appear on the closing document. 480 Loan origination fees ( 0.5% Ask for a repair credit for home inspection issues that you would prefer to rectify yourself.

article thumbnail

How Much Are Closing Costs in Georgia?

HomeLight

of a $281,095 loan, which is 85% of a $330,700 median-priced home) Closing cost item Typical cost to buyer % of loan amount Appraisal fee $400 – $750 0.16% HOA charges (prorated or approval fees) $100 – $400 0.07% Loan origination fees $2,100 0.5% – 1% Credit report $20 – $50 0.01% Intangible loan tax $843 0.29