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UWM turns to seller concessions with new mortgage product launch

Housing Wire

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

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What Are Seller Concessions in Real Estate?

RIS Media

Seller credits, or concessions, are essential for buyers and sellers to understand. We will… The post What Are Seller Concessions in Real Estate? They are financial incentives homesellers offer buyers as part of the closing process. appeared first on RISMedia.

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Mortgage demand picks up as seller concessions rise

Housing Wire

And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. “It seems like, with every small drop in interest rate, the homebuyer’s interest picks up a little bit.

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Home seller concessions reach pre-pandemic levels

Housing Wire

of home sellers gave concessions to homebuyers in Q4 of 2022, through money for repairs and mortgage-rate buydowns. In Q3 of 2022 and Q4 of 2021, sellers gave concessions in 30% of home sales. A new Redfin report found a record 41.9%

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Survey Finds Seller Concessions Are Making a Comeback in Some Markets

RIS Media

A new Bright MLS survey of 450-plus agents indicated that seller concessions have increased in the Mid-Atlantic housing market. Those interviewed consisted of agents who have worked with sellers in the past six months across the Bright footprint.

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Seller Concessions on the Rise

Broke Agent Media

BAM Key Details: A new Redfin report shows over 45% of sellers giving concessions to incentivize buyers, with a record 13% of sales involving both price cuts and concessions. Pandemic boomtowns, led by Seattle, have seen the biggest increases in seller concessions, which are most common in Las Vegas at 51.6%

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Seller Concessions: What is a Seller Concession and How Do They Work

Maximum Exposure Real Estate

The post Seller Concessions: What is a Seller Concession and How Do They Work appeared first on Maximum Real Estate Exposure. Buying a home can stretch your finances to the limit, with closing costs that could be as much as 5% of the purchase price. This can make […].