Remove Closing costs Remove Design Remove FHA loan
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Opinion: Agencies are key to fixing housing affordability

Housing Wire

This is significant, because as noted in CHLA’s Annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Can Closing Costs Be Rolled Into Your Mortgage?

Redfin

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. However, the trade-off is higher monthly payments and more interest paid over the life of the loan. What are closing costs?

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Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

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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Three yards and a cloud of dust

Housing Wire

This is significant, because as noted in CHLA’s annual IMB Report , “84% of FHA loans were for first-time homebuyers, and FHA’s share of Black and Hispanic borrowers was twice the percentage of all other mortgage loans.” But now a new threat is emerging on this front. All these homebuyer charges add up.

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Opinion: The myth of financing buyer agent commissions

Housing Wire

Likewise, for FHA loans, you’d need to pass an Act of Congress, while Veterans would need to convince the Secretary of Veterans Affairs that a change is in the best interest of veterans, taxpayers, and investors. I admit it is not the structure that is obvious if one were designing the market from scratch.

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Educate your clients on down payment assistance programs

Housing Wire

Down payment assistance programs (DPAs) are initiatives designed to help first-time homebuyers bridge the gap between their savings and the down payment required to purchase a home. Examples of down payment assistance programs The FHA offers low down payment loans to first-time homebuyers. of the home’s purchase price.

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7 Things Sellers Need to Know About FHA Loans When Fielding Offers

HomeLight

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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