RIS Media

JANUARY 26, 2024

New construction is having its time in the sun. Applications for new-home purchases jumped 22.2% This marks the 11th consecutive year-over-year lift in new-home purchase applications.

Loans 121

Loans New Construction Construction Mortgages 121

McKissock

MAY 6, 2022

New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales. Those requirements can make it hard to find other new construction comparables.

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New Construction Construction FHA loan Land 86

Realtor.com

NOVEMBER 17, 2022

Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

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New Construction Construction Development Renovation 126

Housing Wire

APRIL 5, 2024

. “Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan. The increase in new listings this spring, due both to new construction and to more homeowners choosing to sell, will give buyers more options and help to ease price growth.

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Pre-approval Marketing New Construction Construction 398

Housing Wire

DECEMBER 21, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday. With a rate of 6.2%, the typical monthly payment on a loan for a $400,000 home would be about $2,700, down from $3,000 with a 7.5% by mid-year and to decline further to 6.2% Another obstacle?

Mortgages 497

Mortgages Fixed-rate mortgage MLS New Construction 497

Realtor.com

JANUARY 2, 2023

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

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New Construction Construction Pre-approval Inspection 105

Realty Biz

MARCH 29, 2021

When purchasing a brand new construction home, they are often covered by a warranty for about the first one or two years of ownership. It is not uncommon to see some new housing developments advertise that they offer a builder’s warranty. What is Covered in a New Construction Warranty?

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New Construction Construction FHA loan Branding 109

Housing Wire

FEBRUARY 29, 2024

And HousingWire’s Mortgage Rates Center showed that Polly ’s average 30-year fixed rate for conventional loans was 7.23% on Thursday, up from 7.19% at the same time last week. Other buyers are choosing to pivot to new construction, attracted to the concessions offered by homebuilders, including rate buydowns.

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Mortgages Fixed-rate mortgage New Construction Construction 450

Housing Wire

NOVEMBER 22, 2023

HousingWire’s Mortgage Rates Center showed Optimal Blue ’s average 30-year fixed rate on conventional loans at 7.283% on Wednesday. “In New construction starts and permits showed surprising strength in October while existing-home sales slumped to their worst reading since 2010.

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Mortgages New Construction Construction Sales 444

Housing Wire

SEPTEMBER 27, 2023

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. Fueling this increase is new construction, according to Divounguy, even though the 1.3% Over the past year, the value of the U.S.

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Marketing New Construction Finance Construction 508

Norada Real Estate

JANUARY 27, 2023

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. In short, they are considered brand new.

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New Construction Construction Probate sale Investor 52

Housing Wire

OCTOBER 6, 2023

” PRMG offers a comprehensive range of mortgage products, including conventional, FHA, VA, USDA and jumbo loans. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans. Then, we have all the traditional financing options, including jumbo.”

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Mortgages VA loan Finance Loans 468

Housing Wire

JULY 20, 2023

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.78% as of July 20, down from last week ’s 6.96%. By contrast, the 30-year was at 5.54% a year ago at this time.

Mortgages 308

Mortgages Fixed-rate mortgage New Construction Construction 308

Housing Wire

JANUARY 18, 2024

HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.709% on Thursday, up from 6.66% recorded at the same time last week. The 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week. 12 compared to a week earlier.

Fixed-rate mortgage 529

Fixed-rate mortgage Mortgages New Construction Construction 529

Realty Biz

OCTOBER 21, 2023

From navigating traditional mortgage loans to exploring non-conventional options, various financing solutions are available. Development financing for larger new construction projects and alternative financing approaches should also be considered.

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Loans Finance Construction Commercial 108

Housing Wire

FEBRUARY 12, 2024

It also has a niche in construction and manufactured home loan programs.

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Lending New Construction Construction Finance 344

Housing Wire

JUNE 29, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.71% as of June 29, up marginally from last week’s 6.67%. By contrast, the 30-year was at 5.70% a year ago at this time. Other mortgage indexes also show rates slightly rising.

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Mortgages New Construction Investor Construction 350

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Strategies to differentiate themselves include buying leads, providing niche loans and getting on builders’ preferred lender list.

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Loan Officer Mortgages Loans Closing costs 393

Housing Wire

JANUARY 9, 2024

Importantly, homeowners can also include 50% of their estimated rental income when applying for an FHA renovation loan to construct an ADU, which helps with DTI constraints. Draw structures for loans supporting new construction of ADUs, especially for prefab, are still “clunky.”

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Finance Construction Loans Renovation 456

Housing Wire

MARCH 26, 2024

Even though they have a low mortgage rate on their home loan, the pandemic causes unanticipated financial hardships which lead to a decrease in their annual income as well as the necessity of using credit cards for their basic needs. How could they ever justify walking away from a loan with this low of an interest rate ?

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Equity Loans Bankruptcy New Construction 424

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans.

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Due diligence Marketing Mortgages New Construction 360

Realtor.com

NOVEMBER 7, 2022

“Occasionally, builders may have some wiggle room to provide to a buyer something like a refrigerator—new construction doesn’t always include one—or blinds, or something along those lines, to incentivize a buyer further to make a move during a specific time frame, like by the end of the month or quarter,” says Mackey.

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New Construction Construction Finance Closing costs 76

Housing Wire

JULY 6, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%. By contrast, the 30-year was at 5.30% a year ago at this time. Other mortgage indexes also show rates rising.

Mortgages 381

Mortgages Construction Investor New Construction 381

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. Demand for purchase loans declined by 10% in the same period. For jumbo loans (greater than $726,200), rates increased from 5.92% to 5.99% this week.

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Fixed-rate mortgage Mortgages Marketing Loan Officer 329

Realty Biz

JULY 20, 2022

For some buyers, there might even be a no down payment home loan available. The Federal Housing Administration regulates and backs the FHA Loans program. The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%.

Loans 130

Loans FHA loan VA loan Equity 130

Housing Wire

JUNE 2, 2021

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. The overall housing index hit its lowest point since February, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Fixed-rate mortgage 540

Fixed-rate mortgage Mortgages New Construction Loans 540

American Lifestyle

SEPTEMBER 25, 2020

The post Buying a New Construction Home appeared first on American Lifestyle Magazine.

New Construction 81

New Construction Construction Loans Finance 81

Housing Wire

AUGUST 10, 2023

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.96% as of August 10, up from last week ’s 6.90%. Yun was pleased to see deceleration in the rent component, which contributed to pulling down the key core CPI in July.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Housing Wire

DECEMBER 8, 2023

Educate your clients about financing While many homebuyers can benefit from a 30-year, fixed-rate conventional mortgage , other borrowers might need access to other loan programs with more lenient guidelines. Make sure your buyers understand the difference between being prequalified, preapproved and loan-committed.

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Proof of funds Inspection contingency Inspection MLS 403

Housing Wire

SEPTEMBER 22, 2022

We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. “We do not see new construction returning in a meaningful way any time soon. Our macro-outlook is that demand for housing will remain out of balance with supply for the mid to long term.

Mortgages 412

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 412

Housing Wire

JULY 27, 2023

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 27, up from last week ’s 6.78%. The rates for credit cards, auto and personal loans, as well as adjustable-rate mortgages will increase. million in June 2022.

Fixed-rate mortgage 327

Fixed-rate mortgage Mortgages Loans New Construction 327

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Rates for jumbo loan balances (greater than $647,200) went from 6.14% to 5.97% in the same period. . ” Uptick in applications .

Mortgages 406

Mortgages Fixed-rate mortgage Loans New Construction 406

Housing Wire

DECEMBER 12, 2023

The gap peaked in November 2022, when the average note rate for new construction sales was one percentage point lower than the rate for existing home sales. Limited to loans with CLTV 76-80 and FICO 720-770 to control for the effect of loan level pricing adjustments. As of July 2023, the gap had slightly narrowed to 0.8

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Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 390

Housing Wire

NOVEMBER 7, 2023

Loop your buyer’s lender into the mix and have coffee with your buyer clients and the loan officer to discuss loan options that meet their goals. If they are in a new construction price range but haven’t really considered it, go take a video of a home that could be a match for them and see what their thoughts are.

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Loan Officer New Construction MLS Inspection 386

Housing Wire

NOVEMBER 3, 2023

*Rebates are not available in all markets or where prohibited by law and are subject to lender approval; may not be available for all transaction types, including but not limited to Short Sales, For Sale by Owner (FSBO), New Construction and iBuyer sales. Total credits to borrower cannot exceed actual closing costs.

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Closing costs Short sale Technology New Construction 351

Housing Wire

SEPTEMBER 22, 2023

Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. But if you’re a first-time buyer, that’s not good news because it means it’s harder to qualify — especially with interest rates where they are. DPA programs were predominantly for FHA loans.

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FHA loan Bankruptcy Marketing Loans 435

Housing Wire

SEPTEMBER 27, 2023

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. Home price gains hit a new high , rising 0.6%

Mortgages 390

Mortgages Marketing Banks New Construction 390