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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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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?

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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.

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How Much Is Enough for a Down Payment?

Realtor.com

Some specialized loans don’t require a penny for people who qualify, such as a Veterans Affairs loan or USDA loan , which is backed by the Rural Development Guaranteed Housing Loan Program. The USDA loan program also has other perks. There are a few hitches involved, though.

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Here’s How You Can Become a Homeowner With A Zero-Down-Payment Mortgage

HomeLight

“You can walk in without [taking] any money out of your pocket,” says Richard Helali, mortgage sales leader at HomeLight Home Loans (though note that you may be responsible for some closing costs, depending on your situation). Closing costs usually equal between 2% and 5% of the loan amount.

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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.

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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.

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