Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

Seller concession 127

Seller concession Closing costs Purchase and sale agreement Closing 127

Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

Seller concession 72

Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

Housing Wire

APRIL 8, 2024

After a few months of downward data in its performance metrics, the reverse mortgage industry saw a slightly different story play out in March that should come as welcome news. Home Equity Conversion Mortgage (HECM) endorsements increased 8.3% The gains were led by Guild Mortgage (rising 96.6% to 84 loans), respectively.

Mortgages 366

Mortgages Seller concession Loans Equity 366

Broke Agent Media

MAY 31, 2023

of home sales during the three months ending April 30 involved seller concessions—just under February’s record high of 45.6% While sellers in some parts of the U.S. are offering freebies to attract buyers, thanks to the dampening effect of high mortgage rates, sellers in markets with severe housing shortages don’t need to.

Seller concession 52

Seller concession Closing costs Sales Mortgages 52

Housing Wire

OCTOBER 21, 2022

In times as tough as these, mortgage lenders must be proactive in borrower outreach and find consumers’ home finance needs if they’re going to close a deal, a new report by mortgage relationship data company Sales Boomerang concludes. Rocket launched a similar product in September.

Seller concession 358

Seller concession Mortgages Loans Finance 358

Housing Wire

APRIL 15, 2024

If the settlement is approved by the court, although agents and home sellers will not be able to list offers of compensation on the MLS, home sellers may still offer to cover the buyer’s agent fees if they so choose. The Community Home Lenders Association (CHLA) expressed support for the GSEs’ announcement.

Agents 529

Agents Seller concession VA loan Finance 529

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. Home Equity Conversion Mortgage (HECM) endorsements fell 11.8% and Longbridge Financial recorded increases for the month.

Mortgages 363

Mortgages Seller concession Principal Loans 363

Housing Wire

JANUARY 17, 2024

They own the home with their name on the title, as with any mortgage, traditional or reverse. They own the home with their name on the title, as with any mortgage, traditional or reverse. But the fact is, most people simply don’t know that a new home can be purchased with a reverse mortgage.

Finance 437

Finance Seller concession Loan Officer Loans 437

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. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession 437

Seller concession Loan Officer Closing costs Mortgages 437

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. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 395

Mortgages Seller concession Fixed-rate mortgage Loans 395

The Mortgage Report

JULY 31, 2020

A seller concession is an agreement where the home seller pays the buyer's closing costs. Learn how seller concessions work here.

Seller concession 115

Seller concession Closing costs Closing Mortgages 115

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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 449

VA loan Agents Seller concession FHA loan 449

Housing Wire

JUNE 10, 2021

From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. 5 reasons to refinance your mortgage right now. To attract potential buyers, sellers have to make sure their home is aesthetically pleasing. Seller Concessions. Bottom Line.

Seller concession 546

Seller concession Closing costs Staging Inspection 546

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. United Wholesale Mortgage (UWM) launched the product in August. A year ago at this time, rates averaged 3.14%. Searching for new options.

Mortgages 364

Mortgages Fixed-rate mortgage Loan Officer Seller concession 364

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgages 392

Mortgages Equity Loans Seller concession 392

Housing Wire

APRIL 12, 2023

With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%

Mortgages 322

Mortgages Loan Officer Marketing Seller concession 322

Housing Wire

AUGUST 24, 2022

Top wholesale lender United Wholesale Mortgage (UWM) is the latest originator to join the resurgent home-equity lines of credit (HELOC) market. According to UWM, standalone HELOCs are an alternative when a “cash-out refinance doesn’t make sense due to having a low-interest rate on their current mortgage,” the company said in a news release.

Seller concession 374

Seller concession Equity Loans Mortgages 374

Lighter Side of Real Estate

JANUARY 11, 2023

Forget about asking for any concessions from a seller! Then mortgage rates went up, and many buyers felt like it was an awful time to buy a house. Just months ago, buyers were regularly waiving their rights to even get an inspection done on the house, let alone hoping to have a seller take care of any repairs.

Seller concession 71

Seller concession Closing costs Inspection Mortgages 71

Housing Wire

JANUARY 25, 2023

This, in turn, will lead to risks of higher delinquencies for mortgages originated last year or late 2021, according to the company. According to Redfin, San Diego and Phoenix are among the most popular markets for seller concessions. Mortgage rates will also stay higher for longer than investors expected.

Seller concession 391

Seller concession Investor Mortgages Land 391

Housing Wire

NOVEMBER 16, 2022

Mortgage lender NewRez added the temporary rate buydown feature to its “Smart Series” non-QM products to leverage the growing group of non-traditional borrowers. Other options, such as the 2-1, and 1-0 rate buydowns are also available for non-QM mortgage products. Caliber was acquired by NewRez in a deal closed in August 2021.)

Seller concession 343

Seller concession Mortgages Lending Loans 343

Housing Wire

NOVEMBER 20, 2023

Savvy sellers are consumers who will choose to have a seller agent complete a basic MLS listing, then take the process into their own hands by fielding orders directly from buyers rather than give 3% to have offers brought to them. If this is to happen, buyer agents and mortgage companies will be forced to adapt.

Pre-approval 404

Pre-approval Agents Loan Officer Seller concession 404

Inman

APRIL 17, 2024

Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.

Industrial 178

Industrial Mortgages Finance Agents 178

Inman

APRIL 22, 2024

Anthony Lamacchia thinks some agents are reading too much into guidance issued by mortgage giants Fannie Mae and Freddie Mac confirming sellers can continue to pay buyer's agents' commissions.

Mortgages 142

Mortgages Agents Seller concession Finance 142

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. Get Started 1.

Pre-qualification 94

Pre-qualification Seller concession Pre-approval Closing costs 94

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. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9% versus a 6.5%

Loan Officer 383

Loan Officer Loans Seller concession Pre-approval 383

Housing Wire

OCTOBER 16, 2023

Zillow research also found that a majority of homeowners with mortgages have locked in a rate below 5%, and are almost half as likely to consider moving. However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%.

Agents 397

Agents Seller concession Closing costs Mortgages 397

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. 5 reasons to refinance your mortgage right now. Ask for seller concessions to make up for the increased price. Change your closing date to a more convenient one for the seller. The purpose?

Earnest money deposit 454

Earnest money deposit Seller concession Loans Lending 454

Housing Wire

MARCH 27, 2023

But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face. Sellers are locked in because they can’t justify giving up a 2.9% mortgage rate to buy a new home with a 6.5% rate,” San Jose Redfin manager Kimberly Douglas said.

Industrial 350

Industrial Marketing Seller concession Sales 350

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 469

Marketing Loan Officer Seller concession Loans 469

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. Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate.

Seller concession 107

Seller concession Loan Officer Closing costs Mortgages 107

Broke Agent Media

JANUARY 13, 2023

Next up was the favorable jobs report and the Fed’s less than bullish response to it, followed by openly bearish Goldman Sachs projections and the increase in seller concessions. . Tune in to hear advice from both on what agents should be doing to prepare sellers and keep their clients well-informed. 14:17 Concessions are up.

Seller concession 52

Seller concession Mortgages Agents Industrial 52

Broke Agent Media

MARCH 18, 2023

banking system, from the initial SVB collapse and additional banks in trouble to how it’s affecting the stock market and mortgage rates , and how it could affect the Fed’s meeting next week. Seller Concessions While it’s still a strong seller’s market, Redfin reported that seller concessions are on the rise.

Seller concession 98

Seller concession Banks Mortgages Industrial 98

Bigger Pockets

JANUARY 12, 2023

New data from Redfin shows that seller concessions, such as mortgage rate buydowns and cash credits for repairs and closing costs, are becoming increasingly common as high mortgage rates curb demand for […].

Seller concession 86

Seller concession Closing costs Marketing Mortgages 86

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. Put simply, many potential home sellers have decided to stay put rather than list. ” Can seller concessions balance out rate hikes?

Mortgages 120

Mortgages Seller concession Closing costs Sales 120

Broke Agent Media

MARCH 28, 2023

The dichotomy of the current market has some areas seeing multiple offers flood in while others are experiencing a slower pace and a rise in seller concessions. Because homeowners are unwilling to let go of low mortgage rates, they’re not listing homes for sale. High mortgage rates. Low inventory. High home prices.

Seller concession 98

Seller concession Marketing Sales Industrial 98

Realty Biz

JULY 6, 2023

The seller credits can help alleviate the buyer's financial burden during home-buying. Seller credits at closing can sometimes be the difference whether a buyer can purchase a home. It is worth noting that a seller credit can be the same thing as a seller concession. Often these terms are used interchangeably.

Closing costs 86

Closing costs Closing Purchase and sale agreement Seller concession 86

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. . Luckily, one option to consider is to buy down your mortgage. What is a mortgage buydown?

Mortgages 73

Mortgages Closing costs Loans Seller concession 73