Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. They are saying, ‘Tell me what’s working, how can I stand a program up so I can capture some of this [home-equity] business.”

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Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

FEBRUARY 3, 2023

And now, with the impact of inflation and looming economic uncertainty, home equity lines of credit (HELOCs) are an increasingly popular choice for those who are considering tapping into their home’s rising equity while protecting their existing, low mortgage rates. So, it’s imperative to speak with a lender.

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Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We billion AUD, or roughly $1.2 billion USD.

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Mortgages Banks Finance Branding 448

Housing Wire

DECEMBER 1, 2022

Austin fintech startup Hitch has rolled out a HELOC platform to help homeowners tap into more than $100 billion in government grants available for home renovation. Established at the start of 2022, Hitch will give qualified owners access to up to 90% of the equity locked in their homes, the company said Thursday.

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Equity Renovation Banks Loans 468

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

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Housing Wire

JULY 19, 2024

In a competitive market full of options, banks must rely on more than their rate sheet to compete for the business of third-party originators. We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.”

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Lending New Construction Renovation Banks 465

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

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Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

JUNE 14, 2024

However, a record $17 trillion of home equity is still available in the market. So how can you leverage this massive amount of equity? For example, bank statement HELOCs serve self-employed borrowers, who might not qualify for traditional products. Housing sales have slowed due to waning supply and record-high prices.

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Loans Banks Equity Development 448

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

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Construction Development Loans Lending 459

Housing Wire

FEBRUARY 28, 2024

TF: A significant amount of volume could be added to an originator’s bottom line simply by offering Bank Statement loans, DSCR cash flow loans, and a stand-alone second lien product such as our Equity Advantage loan. Equity Advantage is a second lien cash-out refinance loan that allows borrowers to keep their first low rate mortgage.

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Debt-to-income ratio Mortgages Banks Equity 458

Housing Wire

MAY 3, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

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Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

JUNE 1, 2022

As people look for alternate means to access the equity in their homes, home equity lines of credit (HELOCs) are poised to make a comeback. Here’s why: Homeowners will still want to use the record levels of equity in their homes. According to CNBC, homeowner equity is an aggregate $9.9 A HELOC is now cheaper than a refi.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

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Equity Lending Finance Loans 367

Housing Wire

MARCH 7, 2024

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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Construction Closing costs Renovation Title 535

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. The partner smiled. “

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Loans Closing Mortgages Equity 524

Housing Wire

APRIL 14, 2022

The central bank has signaled that it will raise rates another six times in 2022, and likely several more times in 2023, which will likely trigger a corresponding rise in mortgage rates. And despite incredible gains in equity owing to soaring home prices, inflation — which touched 8.5% Presented by: RMF.

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Mortgages Fixed-rate mortgage Banks Renovation 448

Housing Wire

APRIL 20, 2022

Level Capital and Homepoint are pitching the program to builders as an alternative to loans from credit unions or banks. ” Homepoint, the third-largest wholesaler in the nation, is weighing jumping into non-QM , namely bank statement and investor cash flow loans.

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Housing Wire

DECEMBER 30, 2022

I think we’re going to head into next year with a very similar product set as we have right now,” Banosian said, adding there has been a huge demand for home equity products. Home equity products will be the name of the game in 2023, Nick Smith, managing partner and CEO at Rice Park Capital Management , said.

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Loans Renovation Construction Mortgages 435

Housing Wire

NOVEMBER 30, 2021

The amount of equity in these loans, the underwriting, the guardrails around ATR have proven that this is a real, sustainable product that investors like.”. Fix and flip loans offer borrowers the ability to renovate and rehab older homes to make them more appealing to homebuyers once they’re placed back on the market.

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Lending Loans Investor New Construction 434

Housing Wire

MARCH 28, 2022

With that said, with tight margins of around 5% , time is short, meaning human value creation (renovations big or small) are usually foregone in favor of an algorithmically determined window dictating when to buy or flip. To de-risk transactions, tailored add-ons are important.

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Marketing Title Closing costs Technology 397

Housing Wire

APRIL 27, 2023

But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.

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The Close

NOVEMBER 25, 2024

Set Up Your House Flipping Business Operations Many believe flipping houses is just about buying, renovating, and selling. This means picking the proper legal structure, like an LLC, registering your business, and setting up separate bank accounts. However, laying down a solid business foundation for lasting success is essential!

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Housing Wire

SEPTEMBER 22, 2022

Credit scores are at record highs, and equity positions have never been stronger. Glessner will close his first renovation loan in 10 years and plans to tap into the market of reverse mortgages, a loan available for seniors aged 62 and over to borrow money against their home equity.

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Mortgages Loan Officer Loans Equity 397

The Close

NOVEMBER 25, 2024

Renovation costs: Depending on the property’s condition, you may need minor and/or significant renovations before renting it out. Timeline: Your timeline involves the time it takes to make repairs or renovations, find tenants, and start accepting payments. Pro Tip: Overestimate your expenses.

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Housing Wire

JANUARY 6, 2023

As a mortgage banker who does business solely in New Jersey, Gallo expects to see home equity loans and mortgage loans getting love in the new year — due primarily to the lack of inventory in his market and the equity built up in owners’ homes. Chris Gallo: We did see a lot of that with just equity in homes going up.

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Loan Officer Loans Equity Mortgages 435

HomeLight

SEPTEMBER 16, 2024

As a result, you might be sitting on a significant amount of home equity, and you’re not alone — U.S. homeowners collectively hold around $32 trillion in equity. If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?”

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Equity Loans Loan Officer Lending 111

Realty Biz

SEPTEMBER 29, 2022

If you’re in the process of planning a home renovation, you’re likely feeling both excited and anxious. Renovations can be a great way to update your home and add value to it, but they can also be tricky and expensive if not done correctly. A successful home renovation requires a team of skilled professionals.

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Renovation Loans Finance Design 102

HomeLight

AUGUST 31, 2022

If you need assistance navigating the financial or tax implications of unlocking your home’s equity, HomeLight always encourages you to reach out to your own advisor. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 What is home equity? According to CoreLogic , U.S.

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Equity Finance Loans Closing costs 105

Realty Biz

AUGUST 28, 2021

There are many reasons why people decide to renovate homes. Reports show that most people planning a renovation intend to spend $10,000 or more. Before making any major decisions, consider what you want out of the renovation for tomorrow and the next 5 or 10 years. Investors have earned big profits with fix-n-flip remodels.

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Lighter Side of Real Estate

JANUARY 10, 2024

About 25% of those surveyed said they devote a full week each month on budgeting, checking their bank account balance, and reviewing their credit card transactions. Your equity is the difference between the amount your house is currently worth, and the amount you owe to any lenders. Take out a home equity line of credit (HELOC).

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Equity Loans Finance Mortgages 116

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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HomeLight

MARCH 31, 2023

The bridge lender will lend the buyer the equity they have built in their existing house so they can move forward with the purchase of a new home. So in the past few years, I think it’s pretty easy [for borrowers to qualify] because of the equity spike. If you owe more than 80% of your current home’s value, you might not qualify.

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Equity Loans Debt-to-income ratio Finance 104

HomeLight

JULY 25, 2024

A hard money loan could help you secure that perfect investment property, whether you’re looking to renovate a historic home in Cleveland Heights or purchase an apartment complex in The Flats. Loan amounts are based on the after-repair value (ARV) , the projected value of a property post-renovation. What is a hard money lender?

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Hard money loan Loans Home sale contingency Lending 115

HomeLight

JULY 31, 2024

However, you don’t have the funds readily available right now for a big renovation. One popular option for financing home renovations and other expensive lifestyle needs is called a second mortgage. You can’t wait to shower in a spa-like setting with clean tiles and a double sink to save your marriage.

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Mortgages Home sale contingency Equity Loans 116

HomeLight

JULY 26, 2024

Whether it’s renovating a historic property in Saratoga Springs or expanding your investment portfolio in Binghamton, hard money lenders in NY offer the financial flexibility you need. Unlike traditional banks, hard money lenders in NY focus on the property’s value rather than the borrower’s credit history.

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Loans Hard money loan Home sale contingency Lending 111

Lighter Side of Real Estate

MARCH 5, 2024

Unfortunately, this leads to many people putting off maintenance and renovation projects until they can save up enough money, take out a loan, or rack up their credit card bills. They’re known as home-equity-sharing agreements or home-equity investments — a type of financing that’s been around for decades.

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Equity Loans Banks Renovation 115

Realtor.com

OCTOBER 29, 2020

If you’re a homeowner, you have options that involve tapping into your home equity —the difference between what your home is worth and how much you owe on your mortgage. There are three main ways to tap into home equity, but sorting through those options can be confusing. Home equity loan. Cash-out refinance.

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Equity Loans Closing costs Principal 76