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. 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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Housing Wire

MARCH 22, 2023

The less competitive market has also resulted in more buyers using FHA and VA loans. In January, 16% of mortgaged home sales used an FHA loan , up from 13.3% a year ago, while the share of mortgaged sales using VA loans rose to 7.5% Detroit saw the highest share of FHA loans at 29.5%

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Eye on Housing

JANUARY 26, 2024

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% Read More ›

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Housing Wire

MARCH 5, 2024

trillion in FHA and VA loans. Moreover, some buyers face challenges in covering the down payment required to bridge the gap between the home’s sale price and the remaining mortgage balance. We help listing agents generate significantly more buyers for their home sales. Raunaq Singh About $8.5

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Housing Wire

FEBRUARY 6, 2024

The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. Fannie Mae and Freddie Mac loans, which represent nearly two-thirds of the mortgage market, cannot be assumed.

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Housing Wire

NOVEMBER 22, 2023

The average loan size on a purchase application was $403,600, the lowest since January 2023. Joel Kan, MBA’s vice president and deputy chief economist, said this corroborates with other sources of home-sales data pointing to a rising share of first-time homebuyers entering the market. last week but remained subdued.

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Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. The number of completed short-sale and deeds-in-lieu transactions in Q4 2023 totaled 134, a decrease of 12% compared to the previous quarter.

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Housing Wire

MAY 10, 2024

million loans, or 23% of active mortgages, are eligible for assumption, according to Intercontinental Exchange. The number of assumptions being completed is a small but growing fraction of all home sales. Roam now services 35% of homes with FHA and VA loans in the U.S., An estimated 12.2

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Housing Wire

JANUARY 3, 2024

“The housing market has been hampered by a limited supply of homes for sale, but the recent strength in new residential construction will continue to help ease inventory shortages in the months to come,” Kan added. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% from 15% the week prior.

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Housing Wire

NOVEMBER 8, 2023

“Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%. of total applications. week over week.

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Housing Wire

FEBRUARY 28, 2024

A sales boom in 2020 and 2021 slashed home listings’ days on market and pushed up home sales’ price per square foot and sale-to-list price ratios. Mortgage With fewer listings come fewer home sales. With fewer home sales come fewer purchase mortgages. The number of listings in San Diego fell 50.5%

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Housing Wire

MARCH 29, 2024

Department of Veterans Affairs (VA) loans, the notice said. In particular, HUD Form 92900–C is designed to “collect loan-level data that is needed for insuring purposes and not found on Fannie Mae form 1003,” according to the notice. HUD also plans to replace its use of some internal forms and one used in conjunction with U.S.

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Housing Wire

SEPTEMBER 30, 2022

We spoke to UMortgage Branch Manager Arielle Best, known as the VA Loan Lady on TikTok, about the platform and how best to utilize it as a mortgage loan originator. We’re on [TikTok] mostly to educate and provide information, it’s not necessarily a sales platform,” Best said. Best joined TikTok in 2020 and today has 61.3k

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Housing Wire

FEBRUARY 28, 2023

By adding JFQ’s technology stack, proven sales process, and seasoned leadership team, Prosperity is well positioned to execute its goal of becoming a significant force in the consumer direct channel with an equal focus on purchase and refinance transactions.” The company originated $816 million over the last 12 months, according to Modex.

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Housing Wire

DECEMBER 14, 2023

Under the practice of cooperative compensation, buyer’s agency fees are baked into the sale price of the home, making the cost for buyer’s representation fully financeable. Olson and the CHLA also addressed how a change in the commission structure could hamper VA buyers , who may be using a VA loan because it does not require a down payment.

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Housing Wire

JUNE 26, 2023

at the end of Q1, “compared with 4.01% for Federal Housing Administration (FHA) loans, 2.26% for Veterans Affairs (VA) loans, and 1.73% for all loans (industry average),” the report said. The number of foreclosure starts increased 6% during Q1 to 19,809, while third-party and foreclosure sales rose 12% to 3,700.

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Housing Wire

MARCH 3, 2022

VA’s servicers handbook outlines numerous home retention options available to borrowers including repayment plans, special forbearances, and loan modifications. There are also alternatives to foreclosure such as compromise sales and deeds in lieu of foreclosure. Meanwhile, as of Jan.

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Housing Wire

JUNE 1, 2022

The results are consistent with the MBA’s May forecast , which shows a significant drop in mortgage originations and home sales in 2022 than a year ago. million home sales this year, compared to 6.13 the prior week, and the VA loan share dropped to 10.2% Total originations are expected to tumble more than 35% to $2.5

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Housing Wire

MARCH 28, 2024

“Now we are hiring seasoned purchase loan officers with experience in nurturing customers in a higher rate environment,” Garg said. “We We are pleased to see early conversion improvements from this new operating model from the seasoned sales talent we are hiring, as well as better alignment between our production output and costs.

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Housing Wire

DECEMBER 14, 2020

Opendoor added that it has also launched a refinancing product and have incorporated FHA and VA loans into its offerings. Last week, Offerpad became a partner of New Home Star , a national real estate sales and consulting firm that works with homebuilders to provide new home sales, marketing and technology solutions.

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Housing Wire

NOVEMBER 17, 2021

He added that purchase applications increased for conventional and government loans, as demand shows resiliency in late fall when home buying activity typically slows. Stronger sales activity may continue in the weeks to come, shows the survey. VA loans consisted of 10.8%, increasing six basis points. the previous week.

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HomeLight

DECEMBER 8, 2023

” as a strategy to accelerate your home sale. Or, you might want to allow a family member to assume your mortgage so they can inherit a financial advantage through your low-interest-rate home loan. Read on to unlock the possibilities that assumable mortgages could hold for your home sale.

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Housing Wire

JUNE 8, 2022

In May, the inventory of homes for sale rose 8%, marking the first rebound since June 2019. the prior week, and the Veterans Affairs (VA) loan share climbed to 11.4% “The purchase market has suffered from persistently low housing inventory and the jump in mortgage rates over the past two months. of total applications.

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Housing Wire

MARCH 25, 2021

You have your conventional loans, FHA loans, VA loans, USDA loans and so on. But there’s another type of loan, not too many people are familiar with that can make the home buying process much easier. Yes, we’re talking about a bridge loan. Haven’t heard of them?

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Housing Wire

DECEMBER 16, 2022

The market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise. Potential buyers who may have had an FHA or VA loan were left behind as about one-quarter of the market was paying all cash for homes. At the height of the spring market, the typical home had 5.5

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HomeLight

DECEMBER 12, 2023

In this guide, we’ll review what it means to transfer a mortgage, helping you make informed decisions about your home loan or home sale. As long as the person taking over the loan meets the lender’s credit and income requirements, an FHA loan can be transferred. More on this in an upcoming section.)

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Real Trends

SEPTEMBER 15, 2023

Did you know that HUD has an online search where you can find homes for sale all over the country that qualify for different special programs? This service record may qualify for a Veteran Affairs (VA) loan. VA loans are not well understood by many Realtors. VA loans have no down payment requirement.

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HomeLight

DECEMBER 12, 2023

Partner With a Top Agent Familiar With Assumable Mortgages An experienced agent can help minimize challenges and coordinate a home sale between family members. VA loans: Assumable by qualified borrowers, VA loans are backed by the Department of Veterans Affairs. Get Started What does it mean to assume a mortgage?

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Housing Wire

FEBRUARY 7, 2023

In a paper published by the Urban Institute in October, Ted Tozer, the former head of Ginnie Mae , argued that government changes to assumable loans could benefit the market. There’s also the matter of handling piggyback mortgages since the sales price in most deals will exceed the mortgage’s unpaid balance.

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Realtor.com

NOVEMBER 10, 2022

It’s a huge bonus if you offer to do it before the sale, or offer to escrow funds to cover the costs from the proceeds of the sale.”. If you’re selling your home and downsizing, you might be ready to part with any number of assets that aren’t normally included in a home sale. VA loans are backed by the U.S.

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Housing Wire

JANUARY 17, 2023

The lender offers fixed and adjustable rate mortgages (ARMs), as well as government loans, including FHA, USDA and VA loans, according to its website. We do think that home sales will probably slow down a bit year over year. About 70% of Prosperity’s production comes from affiliate realtors.

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HomeLight

APRIL 30, 2024

We’ll also break down the concept of mortgage assumption, clarify what loan types might qualify, and provide tips about this growing homeownership trend. Partner With a Top Agent Familiar With Assumable Mortgages An experienced agent can help minimize challenges and coordinate a home sale between family members.

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HomeLight

DECEMBER 28, 2023

However, the person assuming the loan must meet the FHA’s lending criteria. VA loans: Available to veterans and military service members, VA loans are also assumable. The new borrower must meet VA and lender requirements, but you don’t necessarily need to be a veteran to assume a VA loan.

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Housing Wire

MARCH 30, 2023

This is important because the existing home sales market was booming during the 2005 peak; that market needed credit to stay loose to keep demand high and growing. After rates fell recently, working from a shallow level, we saw one of the most significant month-to-month sales prints in history with the last existing home sales report.

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Keeping Current Matters

SEPTEMBER 22, 2021

There’s a common misconception that, as a homebuyer , you need to come up with 20% of the total sale price for your down payment. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants. That may be because those individuals assume a 20% down payment is necessary.

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Housing Wire

JANUARY 3, 2023

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

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Housing Wire

SEPTEMBER 22, 2023

However, a silver lining in the subdued housing market is the strength in new-home sales. Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. To what extent builders will offer rate buy-downs to drive sales remains to be seen.

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