Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . Unused funds at the time the borrower refinances go against their loan balance as a principal reduction.

Seller concession 527

Seller concession Mortgages Loan Officer Loans 527

Housing Wire

JANUARY 17, 2024

But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. They own the home with their name on the title, as with any mortgage, traditional or reverse.

Finance 458

Finance Seller concession Loan Officer Loans 458

Housing Wire

NOVEMBER 7, 2023

FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 458

VA loan Agents Seller concession FHA loan 458

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 440

Mortgages Seller concession Principal Loans 440

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. 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.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

HomeLight

APRIL 29, 2021

Loan payoff amount. Loan payoff includes the remaining principal and interest owed up until closing. Seller concessions. Sellers may owe money at closing for financing concessions they agreed to pay for during the negotiation process to help close the sale. Source: (Sebastian Herrmann / Unsplash).

Closing costs 60

Closing costs Closing Seller concession Homeowner’s association 60

HomeLight

MARCH 31, 2021

Although many closing costs are negotiable, sellers in Georgia are traditionally on the hook for the following: 1. Loan payoff amount. Loan payoff includes the remaining principal and interest owed up until closing. We often encourage [sellers] to keep an eye on that. Loan reconveyance fee. Property taxes.

Closing costs 93

Closing costs Closing Purchase and sale agreement Title search 93