Remove Closing costs Remove Development Remove VA loan
article thumbnail

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%

VA loan 482
article thumbnail

Consolidated Analytics’ Ed Gerding: The pillars of QC in action

Housing Wire

ZL: What are the core principles or pillars that underpin Consolidated Analytics’ approach to quality control, and how do these principles guide the development and implementation of your QC initiatives?

Lending 444
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Assumable Mortgage Approval Timelines are Dropping Fast

Lab Coat Agents

Qualification Process: While buyers still need to qualify for an assumable mortgage, the process may be more streamlined compared to applying for a new loan. Types of Assumable Mortgages There are three primary types of assumable mortgages: VA Loans: Backed by the U.S.

VA loan 98
article thumbnail

How to Buy a House With No Money Upfront: 9 Ways To Make It Happen

HomeLight

She says that through combining state programs and with the seller paying closing costs, she had one buyer who “only had to bring $3,500 to the table.”. For most borrowers, you’ll need money for the down payment and closing costs. You will pay a funding fee and closing costs. of the loan’s amount.

article thumbnail

What Types Of Loans Are Available For First-Time Home Buyers In 2023?

Realty Biz

First-time homebuyer grants provide free money to help you cover your down payment or closing costs. Here is what to ask about: Low-interest loans. A low-interest second mortgage for a small amount helps borrowers with the down payment and closing costs. Deferred-payment loans. Traditional Home Loans.

Loans 107
article thumbnail

Helping Military Families Come Home

RIS Media

The loan program provides many unique benefits, including: No down payment requirement. Limited closing costs. Despite the success of the VA loan program, veterans still face hurdles when purchasing a home. Competitive interest rates. No private mortgage insurance (PMI) requirement.

VA loan 98
article thumbnail

Land of the First Boardwalk: Down Payment Assistance in New Jersey

HomeLight

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. Many people can make their monthly house payments, but it can be difficult to come up with the money for a down payment and closing costs to buy a new home in the first place. Types of down payment assistance available in New Jersey.

Land 110