article thumbnail

Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

Lending 416
article thumbnail

7 Smart Ways To Lower the Cost of Buying a New-Construction Home

Realtor.com

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates

Housing Wire

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “There is too much distraction in the market; there are some negative folks out there.

Mortgages 473
article thumbnail

Construction worker shortage has reached “crisis” levels

Housing Wire

For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. million new hires for construction. Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed.

article thumbnail

Benefits of Investing in New Construction Real Estate

Norada Real Estate

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. They are the owner and seller.

article thumbnail

Buy an Existing Home or New Construction: 5 Things to Know

Louisville Homes

You have a couple of options, namely, buy an existing home or new construction. The other option is to go the new construction route. Over time, more repairs and renovations will be necessary and this could end up being costlier than building a custom home. So, should you buy an existing home or new construction?

article thumbnail

C-PACE Lending Flourishes in Some Communities While Others Fall Behind

Propmodo

The program’s humble origins date back to 2008 in Berkeley, California, when it was a residential financing option called PACE. Projects were larger in 2023, and the loans filled larger pieces of borrowers’ construction budgets because they could raise capital quickly. The funding is only available for renovations.

Lending 57