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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

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. 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%

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How to Take Over Mortgage Payments: Understanding Assumable Loans

HomeLight

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. What is an assumable mortgage?

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How to Assume a Mortgage from a Family Member

HomeLight

This guide breaks down what it means to step into a family member’s mortgage shoes and purchase their home. We’ll explore what loans are assumable, the pros and cons, and the financial, legal, and tax considerations to help you make an informed decision. Conventional loans: These are less likely to be assumable.

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Frequently Asked Questions about Buyers Agents in Real Estate

Realty Biz

Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. You may likely be asked to sign a buyer's agency agreement. Maximum Real Estate Exposure is an insightful resource for explaining buyer agency agreements. What is a Buyer's Agent Agreement?

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In the Military and Selling a House: Programs and Resources for Service Members

HomeLight

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. This minimum equity ensures that you’ll have the funds for necessary home sale expenses (such as staging , repairs , and closing costs ), plus some leftover profit to put towards your next down payment or security deposit.

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Powerful Reasons For a Seller Credit in Real Estate

Realty Biz

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. When a seller offers credits to a buyer, it can make the purchase more attractive.

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Low Appraisal on Your Home? A Reconsideration of Value Might Save the Sale

HomeLight

If you suspect this is the case and have evidence to back it up, you may be able to save the sale if you can convince the appraiser to reconsider. Approximately 9% of home appraisals come in below the sales price. The first step to saving the sale is to request a reconsideration of value (ROV). Reconsideration of value process.

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