Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. CHLA appreciates Fannie Mae’s clarification today that seller payment of buyer realtor commissions will not be counted towards seller concession caps,” a spokesperson wrote in an email.

Agents 527

Agents Seller concession VA loan Finance 527

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. With rates around 6.9%

Loan Officer 382

Loan Officer Loans Seller concession Pre-approval 382

Housing Wire

NOVEMBER 16, 2022

The Pontiac, Michigan-based lender now has an option for borrowers to reduce their rates by 3% during the first year of the loan, compared to the maximum 2% previously offered. UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. primary home purchases.

Seller concession 382

Seller concession Mortgages Fixed-rate mortgage Loans 382

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 450

VA loan Agents Seller concession FHA loan 450

Housing Wire

NOVEMBER 1, 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? How does a 2/1 rate buydown work?

Seller concession 433

Seller concession Loan Officer Closing costs Mortgages 433

Housing Wire

APRIL 8, 2024

to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). In terms of the tracked regions, the Northwest/Alaska region led the way in terms of biggest relative improvement, rising 23% to 166 loans.

Mortgages 422

Mortgages Seller concession Loans Equity 422

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. No matter what it looks like, buyer agents will be working for less and this is where trailing risk for loan officers comes in. But loan officers now have a new value add for listing agents.

Pre-approval 449

Pre-approval Agents Loan Officer Seller concession 449

Housing Wire

OCTOBER 21, 2022

About 2% of monitored contacts, whose loan closed less than 6 months ago, shopped with a competitor that day, an 11% decline from the previous quarter. The overall ARM loan share rose to 12.8% Rocket launched a similar product in September. Rates for 5/1 ARMs ticked up to 5.65% last week from the prior week’s 5.56%.

Seller concession 370

Seller concession Mortgages Loans Finance 370

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 429

Mortgages Seller concession Principal Loans 429

Housing Wire

AUGUST 24, 2022

UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. Meanwhile, the piggyback HELOC, which provides an additional loan taken out on property alongside a first mortgage, is ideal for borrowers with less available for a down payment.

Seller concession 382

Seller concession Equity Loans Mortgages 382

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. For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits. Negotiations can include the purchase price, closing costs and contingencies.

Seller concession 124

Seller concession Closing costs Closing As-is 124

Housing Wire

NOVEMBER 16, 2022

Many lenders are offering temporary buydowns on government sponsored enterprise/Ginnie Mae loans, but the non-agency homebuyer has fewer options,” Bob Johnson, chief operating officer at NewRez, said in an email. “By

Seller concession 382

Seller concession Mortgages Lending Loans 382

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. 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.

Mortgages 393

Mortgages Equity Loans Seller concession 393

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

Mortgages 389

Mortgages Loan Officer Marketing Seller concession 389

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. In this situation, your lender approves your loan amount without much hassle. When this happens, your lender will only loan you up to the appraised value.

Earnest money deposit 450

Earnest money deposit Seller concession Loans Lending 450

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. With the buydown, the borrower pays a lower rate during the first year or two and, after that, the full rate is paid for the remainder of the loan term.

Mortgages 382

Mortgages Fixed-rate mortgage Loan Officer Seller concession 382

HomeLight

FEBRUARY 16, 2024

Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. It not only demonstrates to sellers that you’re financially prepared but also accelerates the purchase process once you’ve found the perfect home. Get Started 1.

Pre-qualification 91

Pre-qualification Seller concession Pre-approval Closing costs 91

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers.

Marketing 464

Marketing Loan Officer Seller concession Loans 464

Housing Wire

OCTOBER 16, 2023

Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs.

Agents 404

Agents Seller concession Closing costs Mortgages 404

Maximum Exposure Real Estate

SEPTEMBER 25, 2023

A seller assist, also known as a seller concession or seller credit, is a feature of loan programs that allows the seller to help the buyer by covering a portion or the entire closing costs. This option is desirable for buyers with limited cash and sellers facing challenges selling their properties.

Seller concession 98

Seller concession Closing costs Loans Closing 98

HomeLight

MARCH 5, 2024

Get Started What is a seller assist in real estate? A seller assist, also known as seller concessions or seller credit , is an arrangement where the seller of a property agrees to cover part of the buyer’s closing costs. How does a seller assist work?

Seller concession 67

Seller concession Closing costs Title Closing 67

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? How does a 2/1 rate buydown work?

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Realty Biz

JULY 6, 2023

A seller credit, or a closing cost credit, is an agreement where the seller agrees to pay a portion of the buyer's closing costs. Closing costs typically include fees associated with loan origination, appraisal, title insurance, and other miscellaneous expenses. Often these terms are used interchangeably. Let's take a look.

Closing costs 89

Closing costs Closing Purchase and sale agreement Seller concession 89

Realtor.com

JANUARY 23, 2023

Simply put, a mortgage rate buy-down is upfront money, often paid by the home seller (builders and lenders can also front the cost), to “buy down” the interest rate on the buyer’s loan for a period of time. This temporarily eases a buyer’s mortgage woes.

Loans 104

Loans Mortgages Investor Finance 104

HomeLight

NOVEMBER 1, 2021

To explore the potential drawbacks of paying for buyer closing costs as the seller, we spoke with Tara Limbird , an Arkansas-based agent who heads a team of real estate pros that was nationally ranked at the top one half of 1% of Realtors®. Buyers and sellers generally pay for their own closing costs — but everything’s negotiable.

Closing costs 74

Closing costs Closing Seller concession Purchase and sale agreement 74

Real Trends

OCTOBER 16, 2023

Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs.

Agents 99

Agents Seller concession Closing costs Mortgages 99

RIS Media

FEBRUARY 28, 2022

According to the report, consumers gained an advantage when working with a Power Buyer versus using a traditional mortgage with a loan contingency. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Using a Cash Offers program, homebuyers averaged just 1.1

Seller concession 97

Seller concession Loan contingency Mortgages Loans 97

Windemere Selling

JANUARY 19, 2022

Lenders will require an appraisal to double-check that the value of the property matches your mortgage loan amount, which will typically cost you a few hundred dollars. Typically, escrow fees are shared between the buyer and seller, which cover the costs of distributing the funds involved in the transaction.

Closing costs 52

Closing costs Closing Purchase and sale agreement Seller concession 52

Realtor.com

DECEMBER 1, 2022

High mortgage rates—which, as of Wednesday, hover at 6.58% for a 30-year fixed-rate loan—are a stark reminder that many buyers might still struggle on the affordability front. ” Can seller concessions balance out rate hikes? Yet the volatile real estate landscape is not quite ready to bring only glad tidings.

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

Realty Biz

MARCH 27, 2022

If you want to give yourself a better chance of having your offer accepted, making it as clean and straightforward as possible will appeal to the seller. Any proposal full of contingencies or seller concessions isn’t going to look as good.

Purchase and sale agreement 120

Purchase and sale agreement Earnest money deposit Seller concession Finance 120

RIS Media

FEBRUARY 17, 2022

According to zavvie, consumers gained a huge advantage when working with a Power Buyer versus using a traditional mortgage with a loan contingency. iBuyer “prep and repairs” fees drop: Called a seller concession, they decreased in 2021 to an average of 3.1% Using a “cash offers” program, homebuyers averaged just 1.1

Seller concession 98

Seller concession Loan contingency Mortgages Loans 98

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 61

Closing costs Closing Seller concession Homeowner’s association 61

Housing Wire

FEBRUARY 2, 2024

HECM volume, inbound inquiries HECM endorsements fell on a per-unit basis by 1.7%, according to RMI , to 2,153 loans for the month of January. Among the top 10 lenders that posted gains, the biggest performer was Goodlife Home Loans , which recorded a 27% gain to 47 loans, followed by Fairway Independent Mortgage Corp. (up

Mortgages 403

Mortgages Seller concession Loans Finance 403

Redfin

NOVEMBER 29, 2022

When you decide to buy a house , you’re not only committing to paying for the purchase price of the home but also the interest rate on your mortgage loan – the cost of borrowing money from your mortgage lender. . A 3-2-1 buydown allows the borrower to pay lower interest rates for the first three years of the loan.

Mortgages 72

Mortgages Closing costs Loans Seller concession 72

HomeLight

SEPTEMBER 30, 2021

If you’re financing your purchase with a mortgage loan, your new property most likely needs to undergo an appraisal to complete the transaction process. Lenders will almost always require an appraisal to be done by an independent third party if you’re getting a mortgage loan. Option 5: Pay more for the house. What is an appraisal?

Pre-approval 93

Pre-approval Seller concession Finance Banks 93

HomeLight

AUGUST 28, 2020

What are points on a mortgage loan, anyway? Many lenders now give you the option to buy down your mortgage interest rate through discount points, saving you money over the life of your home loan. You’re paying more for the home upfront, in exchange for paying less for your home over the lifetime of your loan. No points.

Mortgages 87

Mortgages Loan Officer Loans Seller concession 87