Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

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Debt-to-income ratio Agents VA loan MLS 321

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. Earlier in my life, I was directed away from using a VA loan when I purchased my first home. Who is eligible?

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VA loan Loans Mortgages Lending 468

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

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct.

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Loans VA loan Finance Mortgages 468

Housing Wire

MAY 21, 2024

VA policy states that while a veteran is allowed to use a buyer broker to purchase a home using their VA loan benefit, they “may not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Agents Loans MLS 523

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. VA loans are secured by the VA, and statutorily must be appraised by the VA and not just any appraiser. “I

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VA loan Agents Pre-approval Debt-to-income ratio 418

Housing Wire

APRIL 15, 2024

Based on the selling guides in use by the GSEs, property sellers are allowed to make financing concessions toward the borrower’s closing costs at a maximum amount of 2% to 9% of the property value. Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered.

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Agents Seller concession VA loan Finance 532

Housing Wire

AUGUST 1, 2024

That’s according to survey results released Thursday by Veterans United Home Loans, which show that 60% of prospective buyers are taking the election into account. When asked if they feel better about their finances compared to one year ago, 63% of veterans and 59% of civilians said yes. According to data from the U.S.

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VA loan Loans Finance Mortgages 508

Housing Wire

JUNE 11, 2024

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. ” The VA also clarified that veterans can still ask sellers to cover these fees. ” The circular is effective Aug.

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VA loan Loans Brokerage MLS 523

Housing Wire

MARCH 27, 2024

Department of Veteran Affairs (VA) to revise its policies that ban veterans from paying broker commissions, an issue that is gaining attention following the NAR’s landmark $418 million settlement. The currency policy will put VA buyers on the sidelines, especially in a market with already tight inventory, Sears pointed out.

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VA loan Loans Principal Mortgages 476

Housing Wire

NOVEMBER 10, 2023

Redfin classified purchases as all-cash when transactions had no mortgage loan information on the deed. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S.

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FHA loan VA loan Mortgages Loans 468

Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

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FHA loan VA loan Loans Loan Officer 493

Housing Wire

OCTOBER 25, 2024

Department of Veterans Affairs (VA) would be disadvantaged. Previously, under VA policy, although a veteran was allowed to use a buyer broker to purchase a home using their VA loan benefit, they could “not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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VA loan Purchase and sale agreement Loans Agents 448

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. Not every lender packages a bridge loan in the same way.

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Loans VA loan FHA loan Finance 542

Housing Wire

NOVEMBER 9, 2023

For this reason, many programs now allow funds to be used for buydowns and other popular financing strategies that take the edge off of monthly mortgage payments,” Rob Chrane, founder and CEO of DPR, said in a statement. Buydowns have become a preferred financing strategy for borrowers as mortgage rates have surged.

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FHA loan VA loan Finance Loans 482

Housing Wire

DECEMBER 15, 2021

decline in applications for government loans. Would-be homebuyers are finding it hard to compete with FHA and VA loans in a purchase market defined by low inventory. The strength in conventional purchase activity continues to support higher loan balances, which moved back over $400,000. “The Refinances represented 63.3%

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VA loan FHA loan Fixed-rate mortgage Loans 435

Housing Wire

DECEMBER 3, 2023

In 2024, roughly 75% of originations expected to come from purchase loans. Despite compressed volumes, cash-out refinance loans fueled what is left of the refinance market accounting for 92% of the third quarter activity. in October, also a series high, while the average among FHA and VA loans hit 45.5% for VA loans.

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Equity VA loan FHA loan Mortgages 468

Housing Wire

JULY 26, 2024

Giving the company the “staff the agency needs to fulfill its responsibilities” will allow it to “focus on its core mission, including marketing Ginnie Mae securities to global investors and conducting oversight of the 300-plus companies that issue Ginnie Mae securities backed by FHA, RHS, and VA loans,” the letter explained.

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VA loan Loans Mortgages Banks 476

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. The refinance share of mortgage activity decreased to 31.1%

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VA loan Mortgages Fixed-rate mortgage Loans 480

Housing Wire

MARCH 1, 2021

After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Want to make sure you’re getting the best deal and making the right choice for your finances? The 30-year mortgage might be the most popular, but don’t discount its shorter-term sister, the 15-year loan.

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Mortgages VA loan Loans Loan Officer 459

Housing Wire

OCTOBER 6, 2023

Then, we have all the traditional financing options, including jumbo.” ” PRMG offers a comprehensive range of mortgage products, including conventional, FHA, VA, USDA and jumbo loans. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans.

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Mortgages VA loan Finance Renovation 493

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 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.

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VA loan Mortgages Loan Officer Branding 435

Housing Wire

NOVEMBER 19, 2021

The cabinet-level federal agency, which backs mortgage loans for veterans, said the move was in response to “unprecedented demand for appraisal services” in some markets. The VA said it had taken note of increased market demand in a “seller’s market,” in a notice explaining the increases. “As

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Marketing VA loan Finance Loans 482

Housing Wire

OCTOBER 4, 2023

But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So About half of Ullmann’s production this year comes from VA and FHA loans as well as mortgages that require down payment assistance.

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FHA loan Loans Loan Officer Mortgages 468

Housing Wire

MARCH 28, 2024

At the moment, IPCs “include concessions from the seller to the buyer for items that are traditionally paid by the buyer such as loan closing costs or rate buy-downs,” but as buyer agents are customarily paid by the listing agent, their fees are excluded from caps on the IPCs. Sellers or buyers can pay the buyer’s agent’s fees.

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VA loan Closing costs MLS Loans 476

Housing Wire

MARCH 25, 2024

The current VA rule states that a borrower using a VA loan cannot pay fees or commissions to a real estate agent unless determined “by the Under Secretary for Benefits as appropriate for inclusion. as proper local variances, under current VA regulations.“ “We

Agents 468

Agents VA loan Loans Mortgages 468

Housing Wire

JANUARY 10, 2024

The increase in purchase and refinance applications for both conventional and government loans is promising to start the year but was likely due to some catch-up in activity after the holiday season and year-end rate declines,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. for the week ending Jan. from 14.5%

Mortgages 511

Mortgages VA loan FHA loan Loans 511

Housing Wire

OCTOBER 9, 2024

“Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2% of new applications. of new applications.

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VA loan Mortgages FHA loan Loans 458

Housing Wire

NOVEMBER 8, 2023

3, total home loan applications increased 2.5% 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%.

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VA loan Mortgages FHA loan Loans 468

Housing Wire

OCTOBER 18, 2023

The share of Federal Housing Administration (FHA) loan activity inched up to 14.8% The share of Department of Veterans Affairs (VA) loan activity was 10.7%, up from 10.2% the week prior while the share of Department of Agriculture (USDA) loan activity held steady at 0.5%. Meanwhile, the ARM share was 9.3%, 0.1

Mortgages 482

Mortgages VA loan FHA loan Loans 482

Housing Wire

NOVEMBER 16, 2023

Conventional loans made up 63.6% of new-home mortgage applications while VA loans comprised 9.8% of new-home loan applications in October. Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7%

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Mortgages VA loan Loans New Construction 482

Keeping Current Matters

JULY 29, 2021

Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report: The drop in VA loan usage can be attributed to the difficulties veterans continue to face when buying a home. They are on the bottom of the hierarchy.”

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VA loan Loans Finance Mortgages 297

Housing Wire

MARCH 22, 2023

The program is separate from the broader VA loan program that is available to all veterans. The new rate will apply to NADL loans closed on or after March 13, which will lock in the 2.5% interest rate for the life of the loan.

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VA loan Mortgages Land Loans 418

Housing Wire

JUNE 13, 2024

Conventional loans comprised 63.4% Department of Veterans Affairs (VA) loans accounting for 9.8% Department of Agriculture (USDA) loans at 0.3%. The average loan size last month across all types of new-home applications was $400,150, down from $405,000 in April. of all applications, with U.S.

Mortgages 448

Mortgages VA loan Loans Lending 448

Housing Wire

NOVEMBER 16, 2021

Regarding product type, conventional mortgage loans reigned supreme, making up 75.7% of loan applications. FHA loans composed 13.5% of applications, while VA loans and USDA loans composed 10.3% Overall construction costs, as measured by the Producer Price Index (PPI), recorded an annual increase of 12.3%

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Mortgages VA loan FHA loan Construction 501

Housing Wire

MARCH 28, 2024

Better Home & Finance Holding Co. , Now we are hiring seasoned purchase loan officers with experience in nurturing customers in a higher rate environment,” Garg said. “We Better has been launching digital products with its proprietary technology, including digital VA loans and a one-day mortgage product.

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Loan Officer VA loan Loans Technology 459

Housing Wire

APRIL 5, 2022

Rocket Pro TPO has launched a program that will guarantee financing to close in 15 days, a move to entice mortgage brokers and their real estate agent partners in a scorching-hot housing market. Government, FHA, and VA loans do not apply and the program is not available in 16 states, including New York, Massachusetts, and Rhode Island.

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Closing Loans VA loan Mortgages 397