Housing Wire

APRIL 3, 2023

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs.

Closing costs 418

Closing costs Closing Agents Mortgages 418

Housing Wire

JANUARY 23, 2025

In sum, our analysis shows Fannie Maes title insurance pilot will have a profound and long- lasting impact on closing costs, potentially eliminating a barrier that prevents many homeowners from pursuing a refinance or other financially beneficial transaction. Fannie Mae s title insurance pilot program could save borrowers up to $2.19

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Title Land Loans Closing costs 468

HomeLight

OCTOBER 29, 2024

If you’re about to close on your Alabama home sale, you’re likely wondering how much you’ll owe in closing costs. Nationally, sellers typically pay between 6% to 10% of the property’s sale price in closing costs. Receive your offer in 24 hours and close in as few as 10 days. in state transfer tax.

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Closing costs Closing Title search Title 105

Housing Wire

NOVEMBER 15, 2024

The Ohio-based builder is offering discounts of up to $20,000 on select homes in Greater Houston , along with no-cost 2/1 rate buydowns , and slashing prices by as much as $93,850 in other markets like Chicago. That’s right, there are Black Friday home sales!

Fixed-rate mortgage 418

Fixed-rate mortgage Closing costs Residential Finance 418

HomeLight

OCTOBER 28, 2024

One of the most important things that you should keep in mind is that there are several costs you’ll need to pay to finalize your sale. Nationwide, closing costs for sellers can range from 6% and 10% of a property’s sale price. Receive your offer in 24 hours and close in as few as 10 days.

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Closing costs Closing Title Sales 105

Housing Wire

DECEMBER 9, 2024

Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs. Many sellers are offering to cover 2-3% of closing costs. If 2024 was a rollercoaster, 2025 is shaping up to be a championship gameand every buyer , seller and homeowner has a shot at winning big.

Mortgages 370

Mortgages FHA loan Closing costs Staging 370

HomeLight

OCTOBER 31, 2024

In this post, we explore the question: Are closing costs tax deductible? What are examples of seller closing costs? When selling a home, you’ll encounter various closing costs as part of the process. On average, sellers pay between 2% and 5% of a home’s sale price in closing costs.

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Closing costs Closing Title search Title 111

Housing Wire

MARCH 4, 2025

Every time a Texan buys a home, they will spend less on closing costs. A 10% reduction in title insurance premiums was recently ordered by the Texas Department of Insurance (TDI), with the regulator citing profit ratios that were deemed to be excessive. The mandate is set to go into effect July 1. between 2003 and 2022.

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Title Closing costs Land Sales 393

Housing Wire

JANUARY 27, 2025

However, CHLA continues to call on federal policy makers to take action to address flaws in the refi process by reining in abusive trigger lead solicitations and by curbing exploding closing costs in non-competitive areas like FICO score fees.

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Loans Closing costs Mortgages Closing 369

Housing Wire

JUNE 12, 2024

VA loans are also helping to close the homeownership gap for women and minorities. The top advantages of the VA loan were ”competitive interest rates” and ”the ability to reuse the VA loan benefit,” followed by its zero-down payment feature, funding fee exemptions and limits on closing costs. It originated $17.6

VA loan 466

VA loan Loans As-is Mortgages 466

Housing Wire

OCTOBER 29, 2024

Bryan VantHof, a member of the RE/MAX Advantage Plus -brokered The Minnesota Real Estate Team , also believes the amount the seller nets is central to getting a deal closed. Many first-time homebuyers don’t have enough to pay the agent and all the closing costs,“ Nichols said.

Marketing 448

Marketing Agents Closing costs Industrial 448

Housing Wire

MARCH 11, 2025

Tomo touts its use of artificial intelligence in streamlining loan underwriting and closing processes. It claims to save the typical homebuyer up to $4,000 in closing costs and offers interest rates that are 50 to 100 basis points lower than the industry average, according to a press release.

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Closing Mortgages Investor Loan Officer 360

Housing Wire

MARCH 27, 2025

FinLocker details that the initiative will eliminate verification costs at all stages of the mortgage journey, from prequalification and underwriting to final reverification before closing. ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses. ” .”

Mortgages 326

Mortgages Loan Officer Technology Loans 326

Housing Wire

FEBRUARY 13, 2025

The borrower can then spend it however they like, including long-term care costs or home modifications to make aging at home more feasible. The borrower can then spend it however they like, including long-term care costs or home modifications to make aging at home more feasible.

Mortgages 360

Mortgages Equity Loans Closing costs 360

Housing Wire

DECEMBER 7, 2024

(Image generated by AI in Midjourney) There are two particular ways for people to interpret the phrase silver tsunami in the context of an aging population’s impact on housing. The first is related to the demographic trends playing out across the U.S., The second is in reference to housing inventory. housing shortage.

Closing costs 370

Closing costs Land Construction Marketing 370

Housing Wire

JANUARY 9, 2025

There are closing costs and other fees, and you’ll still be responsible for maintaining the property and paying the property taxes and homeowners insurance, the column noted. This is largely tied to higher levels of stress theyre feeling about the economy and the cost of living.

FHA loan 370

FHA loan Mortgages Equity Closing costs 370

Housing Wire

NOVEMBER 27, 2024

Saving for the down payment and closing costs takes time, sacrifice and determination. When I began working on this piece, I was told that the mortgage community as a whole—and loss mitigation professionals in particular—would be resistant to the message. But I don’t think that’s true. A loved one that now requires constant care.

Equity 397

Equity Mortgages Industrial Closing costs 397

Housing Wire

DECEMBER 16, 2024

of the loan amount) at settlement to use toward their closing costs. So far it has generated over $1 million in savings for our consumers, and that is only on closed transactions since August. The biggest lesson this year was really just a reinforcement of something we kind of already knew.

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Brokerage Agents Technology Industrial 370

Housing Wire

FEBRUARY 6, 2025

Younger service members struggle during the homebuying process, particularly around paying closing costs. Some of these include lower mortgage rates , insurance costs, and down payment requirements. As such, my driving mission is helping fellow veterans achieve the American dream. In 1944, the U.S. He retired from the U.S.

Industrial 326

Industrial Lending Closing costs Loans 326

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. The original effective date as announced last fall remains in effect, which will be April 29, 2024.

Closing costs 488

Closing costs Development Equity Closing 488

Housing Wire

SEPTEMBER 9, 2024

“We really think closing costs can be a significant obstacle to refinancing,” Chopra said at an AI and technology conference jointly hosted by ICE Mortgage Technology and the National Housing Conference at the New York Stock Exchange on Monday. At least when it comes to redundancies with refinancings, that is.

Mortgages 476

Mortgages Closing costs Title Technology 476

Housing Wire

FEBRUARY 5, 2024

Freddie Mac will offer a $2,500 credit for very low-income purchase borrowers to help with down payment and closing costs amid elevated interest rates and low housing supply. The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

Mortgages 526

Mortgages Closing costs Finance Loans 526

Housing Wire

JUNE 10, 2021

According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. Sellers also have to pay closing costs.

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Seller concession Staging Closing costs Inspection 546

Housing Wire

MARCH 21, 2024

In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as income verification is required for both during loan underwriting and just before closing.

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Closing costs Loans Title Finance 482

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

Closing costs 47

Closing costs Closing VA loan Seller concession 47

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

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Closing costs Closing Seller concession Title 52

Housing Wire

AUGUST 5, 2020

If people are willing to buy or refinance at a higher rate, they can get a rebate toward closing costs,” he said. But if you want a lower rate, instead of getting that credit, 1.875% would cost an extra $6,940 in points. For those who want zero closing costs, it may not be worth it.

Mortgages 528

Mortgages Loan Officer Lending Loans 528

Housing Wire

DECEMBER 14, 2023

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Specifically, title and settlement fees have been characterized as a high-burden and regressive (costing proportionally more for low- and moderate-income borrowers) cost to borrowers.

Title 459

Title Closing costs Loans Title search 459

Housing Wire

APRIL 30, 2024

AARP concerns “FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” HUD said in its update to the policy. Certner cited fair lending concerns and the potential of undue borrower influence.

Mortgages 447

Mortgages Closing costs Equity Construction 447

Housing Wire

MARCH 7, 2024

Biden will also call for “lower homebuying and refinancing closing costs and crack down on corporate actions that rip off renters,” according to the White House announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% on a median-priced home for two years, and it is estimated to “help more than 3.5

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

AUGUST 12, 2024

They are usually used to finance the down payment or closing costs and typically work in an 80-10-10 structure with the first mortgage covering 80% of the total cost, the piggyback covering 10% and the borrower paying the remaining 10%. This is according to a CoreLogic report published on Monday.

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

NOVEMBER 7, 2023

Adding this cost to their side of the transactions would throw the vast majority of them out of the market entirely.” Not helping FHA, VA borrowers get off the sidelines Under current FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

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VA loan Agents Seller concession FHA loan 482

Housing Wire

MARCH 15, 2024

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. Meanwhile, trade groups representing lenders believe that more details on the settlement are needed to understand its coming impact on the housing market.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

JANUARY 29, 2021

Besides a down payment, you’ll have to pay closing costs, property taxes, insurance, etc. The costs add up quickly. Here we break down the reasons why you should or shouldn’t sell in 2021: Should sell your house: Interest rates are low. Low-interest rates are great for potential buyers. Last year featured a huge refinance boom.

Closing costs 482

Closing costs Mortgages Closing Marketing 482

Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. They will also be offered closing cost credits of up to 0.5% They will also be offered closing cost credits of up to 0.5%

Closing costs 448

Closing costs Loan Officer Closing Loans 448

Housing Wire

JUNE 11, 2021

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. The buyer typically covers the cost of the appraisal. Home Inspection.

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Inspection Closing Closing costs Title search 459

Housing Wire

SEPTEMBER 9, 2024

As with most refi options, the FHA streamline refi requires borrowers to pay closing costs —which can’t be wrapped into the new loan — as well as mortgage insurance premiums unless the FHA loan is converted into a conventional loan. Better Home & Finance Holding Co. , million.

FHA loan 448

FHA loan Loans Closing costs Finance 448