Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Our DSCR loan for real estate investors qualifies on the rental cash flow of the subject property.

Debt-to-income ratio 423

Debt-to-income ratio Mortgages Banks Investor 423

HomeLight

MAY 8, 2024

Are you considering a hard money loan to fast-track your next real estate investment? Whether you’re planning to flip a house or purchase a rental property, a streamlined hard money loan can be a helpful option. You can then make a strong offer on your next home with no home sale contingency. What is a hard money loan?

Hard money loan 109

Hard money loan Loans Home sale contingency Finance 109

Housing Wire

FEBRUARY 21, 2024

Regarding other initiatives, Gordon said the FHA is “also hoping soon to put out our servicing defect taxonomy ” and, in the near future, will be releasing a mortgagee letter for the 203(k) renovation loan program. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae.

Principal 424

Principal Loans Mortgages Renovation 424

Housing Wire

DECEMBER 30, 2022

Krichmar, whose $100 million-plus origination volume in 2022 consisted of 77% purchase loans, expects LOs to be working longer hours to find referral partners, trying to close loans faster than the others and diversifying their mortgage product offerings to combat an industry that shrank by more than half this year. .

Loans 404

Loans Renovation Construction Mortgages 404

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.”

Finance 477

Finance Construction Loans Renovation 477

Realty Biz

AUGUST 3, 2023

In recent years, virtual renovation has emerged as a groundbreaking tool that allows homeowners, designers, and contractors to visualize and plan home renovation projects in a virtual space. Benefits of Virtual Renovation Cost-Efficiency : Reduces the risk of costly mistakes. Steps to Virtual Renovation 1.

Renovation 77

Renovation Pre-approval Investor Construction 77

Housing Wire

JULY 1, 2022

Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8% Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? of the loans modified included a principal deferral, the OCC said.

Banks 382

Banks Mortgages Principal Short sale 382

Housing Wire

JULY 14, 2022

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. The program’s maximum loan term is 20 years. FHA’s loan limit is $69,678 for chattel financing.

Title 382

Title Land Finance Renovation 382

Housing Wire

NOVEMBER 10, 2023

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options.

Equity 441

Equity Lending Banks Loans 441

Housing Wire

JANUARY 12, 2024

The original reporting described the amount of the loan as nearly one-fifth higher than the current $4 million limit for “HomeSafe,” the private-label product offered by FOA’s reverse mortgage division Finance of America Reverse (FAR). The company later told RMD, however, that the loan was within current product lending limits.

Mortgages 424

Mortgages Finance Lending Equity 424

HomeLight

MARCH 29, 2024

To find the Goldilocks price point, most real estate agents use the sales comparison approach. In this post, we’ve asked two top real estate experts to share insights on how this approach plays a key role in your home sale, how it works, and another pricing option you might need. How Much Is Your Home Worth Now?

Sales 113

Sales Renovation Land Construction 113

Realty Biz

SEPTEMBER 24, 2022

Whether you’ve bought a new home, or you’re sprucing up an investment property , home renovations can add immediate and long-term value to your home. With mounting material and labor costs, your renovation dreams can quickly put a strain on your budget. Here are 10 ways to save money on home renovations. They can also be costly.

Renovation 103

Renovation Finance As-is Sales 103

Housing Wire

FEBRUARY 20, 2024

The changing role of the LO One of the strongest indicators of this transformation is the changing role of the loan officer (LO). To succeed, companies will need to empower their teams with the tools, training and decision-making authority to help them win share on a loan-by-loan, borrower-by-borrower basis as quickly as possible.

Loan Officer 404

Loan Officer Lending Technology Loans 404

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

Finance 370

Finance Marketing Lending Investor 370

HomeLight

NOVEMBER 29, 2023

However, a strategic alternative could smoothly bridge this gap: a bridge loan. Designed as a short-term financing solution, a bridge loan enables you to purchase your new Wisconsin home before you’ve sold your current one, easing the transition and keeping you on track toward your real estate goals.

Equity 109

Equity Loans Debt-to-income ratio Home sale contingency 109

HomeLight

DECEMBER 5, 2023

That’s where a bridge loan in Connecticut can be your saving grace. A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. You can then make a strong offer on your next home with no home sale contingency. Now, let’s talk numbers.

Equity 109

Equity Debt-to-income ratio Loans Home sale contingency 109

HomeLight

NOVEMBER 29, 2023

Enter the bridge loan, a potential game-changer for your real estate strategy. A bridge loan is a short-term financing solution designed to bridge the gap, allowing you to purchase your new Hawaiian dream home before you’ve sold your current one. You can then make a strong offer on your next home with no home sale contingency.

Equity 109

Equity Loans Debt-to-income ratio Home sale contingency 109

HomeLight

NOVEMBER 29, 2023

However, there’s a strategic solution that might just be the missing piece in this complex puzzle: a bridge loan. You can then make a strong offer on your next home with no home sale contingency. If you need assistance navigating the use of a bridge loan in Idaho, HomeLight encourages you to reach out to your own advisor.

Equity 109

Equity Loans Home sale contingency Debt-to-income ratio 109

Realty Biz

AUGUST 5, 2022

Purchasing homes to renovate and flip is a common real estate investment strategy. So, too, is home buyers purchasing an inexpensive property that needs some rehab or customization, or even a mortgage refinance when your existing property needs renovations. What is “Loan to Value After Repair Value”?

Loans 92

Loans Renovation Investor Banks 92

HomeLight

NOVEMBER 29, 2023

However, a bridge loan could be the solution you’re looking for. You can then make a strong offer on your next home with no home sale contingency. If you need assistance navigating the use of a bridge loan in New York, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words?

Equity 108

Equity Loans Debt-to-income ratio Home sale contingency 108

Marco Santarelli

OCTOBER 22, 2023

What is Fannie Mae's 5% down payment loan for multi-family homes? In the past, the down payment requirement for multi-family homes was a substantial 15%-25% of the property's sales price. First-time homebuyers and borrowers aiming to combat high mortgage rates will benefit immensely from these conventional loans.

Loans 98

Loans Pre-approval Principal Mortgages 98

Housing Wire

JANUARY 5, 2024

Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices. Buyers who still qualify for their target home loan might decide to look for smaller or more affordable properties in order to maintain their monthly housing budget.

Fixed-rate mortgage 433

Fixed-rate mortgage Agents Marketing Lending 433

Housing Wire

AUGUST 10, 2023

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. of all properties available for the first-look auctions during the quarter.

Renovation 370

Renovation Development Rent back Principal 370

Housing Wire

SEPTEMBER 19, 2023

A licensed appraiser conducts the evaluation and considers the condition of the property, the location and sales of comparable properties (comps) in the area. Mortgage lenders want to make sure the property is worth the sale price. An appraisal ensures that the loan being offered matches the property’s value.

Agents 442

Agents Inspection Sales Commercial 442

Housing Wire

FEBRUARY 16, 2022

Let’s look at what private money lenders do and how they operate, as well as the potential benefits of using private or hard money loans and how to locate and select a reputable private money lender. Understand where the funding comes from, whether it’s from the lender or a syndicated loan with funds given by multiple investors.

Purchase and sale agreement 382

Purchase and sale agreement Investor Hard money loan Lending 382

Realtor.com

MAY 26, 2021

Getty Images One of the more tangible side effects of the coronavirus pandemic is that, with all the time we’ve clocked at home, many of us are itching to renovate our space—whether that’s with a kitchen remodel , new home office, half-bath , or even more ambitious projects. Fix what’s broken first.

Renovation 133

Renovation Finance Equity Loans 133

Housing Wire

JUNE 30, 2021

Caliber Home Loans, Inc., a home loan company, offers resources to help support a broker’s business for continued success. The first resource is its newly renovated Broker Portal that brings the power of its proprietary H2O origination system together with an elegant interface to highlight next steps, critical tasks and key contacts.

Lending 382

Lending MLS Loans Renovation 382

Housing Wire

JUNE 30, 2022

Not only does Flagstar offer brokers direct access to seasoned sales, support and underwriting teams, it also provides a product set that includes specialty lending options like Advantage non-agency loan, jumbos, new construction, renovation products and HELOCs, and in the pipeline, loans to foreign nationals, seconds and investor property loans.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. Four renovations to consider before selling your house. In this situation, your lender approves your loan amount without much hassle. One more option.

Earnest money deposit 450

Earnest money deposit Seller concession Loans Lending 450

RIS Media

MARCH 16, 2022

Either way, home renovations are on the horizon for many. COVID has driven a huge increase in home sales in the past two years. A home equity loan can provide the perfect solution to offset these rising costs by providing a more attractive and flexible financing alternative for homeowners. .

Renovation 98

Renovation Equity Finance Lending 98

Housing Wire

MAY 3, 2022

Surging house prices have made home equity products an obvious choice for lenders to invest in, given the value of homes used as collateral for such loans are rising. ” Prospective borrowers can talk to a licensed loan officer if they prefer during the approval process, however. The company achieved a 3.4%

Equity 393

Equity Loan Officer Loans Technology 393

Housing Wire

JANUARY 6, 2023

Nearly every loan originator is fixated on going after the purchase mortgage market in 2023 following a brutal 2022 — a year in which even some of the top producers saw their origination volume drop to 20%. That is also the case for Chris Gallo, senior loan officer at NJ Lenders Corp. Have you hit the $1 billion sales volume?

Loan Officer 404

Loan Officer Loans Equity Mortgages 404

CT Homes

APRIL 18, 2024

If you find yourself in a tough financial spot, it’s crucial to understand your options, particularly when it comes to a short sale vs foreclosure. This can make it difficult to purchase a new home, obtain loans, or even secure housing rentals. What is a Short Sale? Get an easy, no-nonsense cash offer for your property today!

Short sale 58

Short sale Sales Closing Mortgages 58

Housing Wire

NOVEMBER 5, 2021

The sales closed in the third quarter have averaged 101.1% The sales RedfinNow has booked so far for the fourth quarter have averaged 100.0% of the forecasted price; the rate of those sales has been on pace with our expectations.”. Where our capacity to renovate a home is limited, we’ll limit the number of homes we buy.

Renovation 380

Renovation Brokerage Agents Mortgages 380

Point2Homes

SEPTEMBER 1, 2020

After reaching record highs in 2019, Canadian spending on home renovations declined drastically in the early days of the COVID-19 pandemic. By March and April, spending on home renovations had significantly declined. Pandemic-Induced Home Renovations. Image: Zivica Kerkez / Shutterstock.com. and 3.6%, respectively.

Renovation 91

Renovation Equity Banks As-is 91

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” said a retail loan officer in Michigan. Mark Glebman, Caliber Home Loans. But for loan professionals, relief doesn’t pay the bills. million to 1.93

Mortgages 382

Mortgages Loan Officer Loans Equity 382

Housing Wire

APRIL 22, 2024

I can also provide expert advice about renovations and the potential return on investment — where to get the biggest bang for your buck — or simply answer any questions you have about the market. You’ll want to include the list price, sale price, and days on market. Your neighbors at (address) just sold their property for (sale price).

Brokerage 431

Brokerage Investor Agents Pre-approval 431