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. a loan officer in Washington noted.

Mortgages 397

Mortgages Loan Officer Marketing Seller concession 397

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. Boise-based loan officer Blake Bianchi, founder and CEO at Future Mortgage , said he noticed an increase in clients choosing 2-1 temporary rate buydown.

Mortgages 384

Mortgages Fixed-rate mortgage Loan Officer Seller concession 384

Housing Wire

NOVEMBER 23, 2022

Borrowers who would benefit from a temporary rate buydown are those who are getting into the market and plan on hanging onto the property for two to three years before moving up to a different type of property, Trudy Kelly, a senior loan officer at Churchill Mortgage , said.

Marketing 473

Marketing Loan Officer Seller concession Loans 473

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown? What are the pros and cons?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgages 397

Mortgages Equity Loans Seller concession 397

HomeLight

AUGUST 28, 2020

Best advice: Ask your loan officer to walk you through your options and how they’ll affect your bottom line over time. Have your loan officer walk you through your options, and lay out what it would look like to use your cash on a down payment versus points. Where can you learn about points in your loan?

Mortgages 89

Mortgages Loan Officer Loans Seller concession 89

Redfin

MARCH 3, 2022

To avoid a closing delay or, even worse, the sale falling through, it’s essential to be upfront and honest with your loan officer. Give your loan officer full disclosure from the start – tell us everything. Any changes to employment status could force the lender to decline the loan even at this point.”.

Closing 62

Closing Title search Purchase and sale agreement Title 62

HomeLight

APRIL 17, 2024

They also estimate 1% in seller concessions if you list with them, but there’s no cancellation fee. HomeLight Home Loans : Like Offerpad and Opendoor, HomeLight has a convenient, prompt mortgage service. Opendoor charges a 5% service fee and an estimated 1% for closing costs. Writer Dena Landon contributed to this story.

Seller concession 97

Seller concession Inspection Rent back Closing 97

Realty Biz

JANUARY 19, 2024

It takes a special loan officer who knows exactly how to work through these issues to help make their first purchase go smoothly Calculating Your Budget Determining your budget is a crucial step in the home-buying process. Again, local market conditions determine whether you can get any seller concessions.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100