Housing Wire

APRIL 18, 2024

The Federal Housing Finance Agency (FHFA) this week released its annual Housing Mission Report , offering insights into the actions the agency took in 2023 on a host of issues. Through the HomeReady First SPCP, Fannie Mae acquired 921 loans with a total of more than $5 million in down payment or closing cost assistance, the report stated.

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Housing Wire

JULY 1, 2024

By 2024, in addition to owning more than double their share of all real estate, the Top 20% of incomes held 87% of all corporate equities and mutual funds. Equity management firm Carta found that most employees do not exercise stock because of cost and financial risk.

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Equity Banks Finance Investor 532

Housing Wire

JANUARY 7, 2025

That means most members of the baby boomer generation are sitting on as much as $17 trillion in home equity as of the second quarter of 2024, and they are largely planning to keep that wealth within their own families. Baby boomers also expressed a desire to protect their home equity as opposed to tapping it in retirement.

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Equity Closing costs Finance Technology 396

Housing Wire

JUNE 21, 2024

The Montana Board of Housing is aiming to remind the state’s seniors about a government-administered program that is specifically designed to help older adults access their home’s equity — and it should be very familiar to members of the reverse mortgage industry. This is where the RAM program can come into play.

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Mortgages Equity Finance Closing costs 397

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).

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FHA loan Renovation Equity Loans 370

Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. If they lost their job, they have a lot of equity in their home, and most likely their financials have gotten better over time.

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Loans Banks Equity Bankruptcy 544

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

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. Once the home arrives on site and is placed on a permanent foundation, it becomes a real property and is able to be financed through a mortgage.

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Loans Mortgages Land Finance 418

Housing Wire

MAY 3, 2022

Point now says it has raised $170 million in equity capital. Point’s plans to use the funding include expanding its Home Equity Investment division. When homeowners apply for the HEI program , Point evaluates the finances of the applicants and makes a provisional offer.

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Equity Investor Closing costs Finance 397

Housing Wire

FEBRUARY 15, 2024

And that’s how Saller’s clients — siblings in their early 20s — can close on a $335,000, three-bedroom condominium in Jackson, New Jersey, early in March. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). and even a portion of closing costs, depending on the program.

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FHA loan Loans Closing costs Loan Officer 476

Housing Wire

NOVEMBER 3, 2021

The government-sponsored enterprise will provide closing cost credits on multifamily loans for rental landlords who agree to report on-time rental payments through Esusu Financial. That puts the 44 million households who rent at a significant disadvantage when they seek financing for a home, a car or even an education.

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Finance Closing costs Property Management Equity 468

Housing Wire

MAY 25, 2023

Older Americans are sitting on more than $12 trillion in home equity, according to the National Reverse Mortgage Lenders Association (NRMLA)/ Riskspan Reverse Mortgage Market Index. These homeowners are seeking different retirement solutions to help allocate their home equity and make it more durable over the next 20 to 30 years.

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Loan Officer Equity Finance Loans 418

Housing Wire

FEBRUARY 10, 2022

The Federal Housing Finance Agency has prioritized expanding access to credit while prioritizing safety and soundness. In November, Freddie Mac announced it would encourage landlords to provide access to rental payment data, by recouping a portion of closing costs for properties it finances.

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Loan Officer Finance Loans Banks 418

Housing Wire

MAY 20, 2024

So, as the loan balance increases, your home equity decreases.” The CFPB advises that upfront fees can be “as much as $6,000 plus closing costs in an initial mortgage insurance premium,” in addition to an annual mortgage insurance premium and obligations related to property taxes and homeowners insurance. You can sell your home.

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Mortgages Equity Loans Closing costs 448

Housing Wire

JULY 2, 2024

Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% Finance of America (FOA) added 4.1% Equity takeout” loans — reverse mortgages that are neither purchases nor refinances — dropped by 4.8% Equity takeout is the most stable as the largest segment so the lower volatility in May makes perfect sense.”

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Mortgages Equity Loans Loan Officer 434

Housing Wire

SEPTEMBER 16, 2022

. “The Inflation Buster pairs perfectly with the Rate Drop Advantage program which covers many of the costs to refinance when interest rates fall,” Bob Walters, CEO of Rocket Mortgage, said in a prepared statement. Combined, these put buyers in the driver’s seat with unmatched benefits.”

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

MARCH 1, 2021

In fact, they could actually cost you more (often significantly more) if used incorrectly. Want to make sure you’re getting the best deal and making the right choice for your finances? These mortgages come with lower interest rates, a quicker payoff timeline and the opportunity to build equity much faster than 30-year loans.

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Mortgages VA loan Loans Loan Officer 459

Housing Wire

AUGUST 10, 2023

Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

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Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

MARCH 28, 2022

Proprietary analytics and external data sources, backed by a microservice architecture that connects them all via APIs, can feed optimized recommendations and assessments for any part of the sale — valuation, tax, credit score, loan rating, insurance rating, title and closing costs.

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Marketing Title Closing costs Technology 397

Housing Wire

OCTOBER 21, 2021

The resources help families with 80% or less of the area median income for down payments or closing costs, for example. million, two-year partnership with the Urban Institute to create a racial equity accelerator program. The total volume should not be lower than $100 million for each bank.

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Banks Loans Equity Development 370

Housing Wire

MARCH 20, 2024

The upfront lump sum can be applied toward a down payment, closing costs or other expenses related to the homebuying process. Ally Home , the residential mortgage lending arm of Ally Bank , is offering a $5,000 grant for eligible homebuyers in the select markets of Charlotte, Detroit and Philadelphia, the company announced on Tuesday.

Banks 459

Banks Closing costs Lending Equity 459

Housing Wire

AUGUST 19, 2024

Unspent funds allocated to the program can be put to use by assisting the state’s older residents with reverse mortgage financing at a relatively low interest rate when compared to either Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgages (HECMs) or proprietary product options.

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Mortgages Loans Equity Principal 434

Housing Wire

AUGUST 21, 2023

5000 list an impressive five times: Total Expert , which offers CRM and data-driven customer engagement solutions, turning customer insights into actions to increase loyalty and drive growth; and FirstClose , a tech solution provider for HELOC and home equity lenders. 658 in the 2023 Inc. Other established names to make the Inc.

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Equity Technology Investor Residential 370

Housing Wire

NOVEMBER 21, 2022

This deficit greatly exacerbates the challenge of bringing equity to homeownership, particularly for low-to-moderate income (LMI) home buyers who are disproportionately people of color. CoreLogic estimates that by the end of 2022, the United States will be facing a 1.2-million-unit Data science for the good of affordable homeownership.

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Finance Design Equity Construction 397

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. HW: How has the proptech space evolved in the last 5-10 years?

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Backup offer Loan Officer Home sale contingency Branding 448

Keeping Current Matters

DECEMBER 22, 2020

Move-up or Downsize: One option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year. Here’s a look at three of them.

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Closing costs Equity Finance Mortgages 327

Housing Wire

MAY 8, 2023

I pay the closing costs for veterans, first responders and educators to help expand homeownership among these groups,” said George Russell, a Texas-based Auction.com buyer. The affordability of renovated foreclosures extended into underserved neighborhoods as defined by the Federal Housing Finance Agency. in April. “[We]

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Renovation Equity Mortgages Development 435

Housing Wire

OCTOBER 16, 2023

Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. If a Denver area first-time buyer purchases a home at $550,000, it’s true that with factors like the initial closing costs, etc.,

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Agents Seller concession Closing costs Mortgages 435

HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Michigan? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.

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Closing costs Closing FHA loan Inspection 102

HomeLight

JULY 11, 2024

Are you searching for financing options for your next real estate investment in San Jose? Whether you’re eyeing a fixer-upper in Willow Glen or planning to invest in rental properties near Santana Row, hard money lenders in San Jose offer a speedy and flexible financing option. How does a hard money loan work?

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Finance Hard money loan Home sale contingency Loans 115

HomeLight

JULY 3, 2024

These loans provide a valuable alternative to traditional financing, especially for those with tight project timelines, limited upfront capital, or credit challenges. For homeowners looking to buy before selling their current home , we’ll also explore some options to help leverage your home’s equity. How does a hard money loan work?

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Finance Hard money loan Home sale contingency Loans 114

HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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Closing costs Closing Inspection Loans 104

HomeLight

JULY 25, 2024

Whether you’re a seasoned house flipper or a homeowner looking to leverage your property’s equity, knowing how to finance your next move is important. One option to consider is a hard money loan , a type of financing that offers flexibility and speed, ideal for competitive markets like the Bay Area.

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Finance Hard money loan Home sale contingency Loans 115

HomeLight

JULY 29, 2024

These loans provide faster access to funds compared to conventional financing, making them a popular choice for real estate investors. In this guide, we’ll break down the essentials of hard money loans, how they work in El Paso, their common uses, and potential costs. How does a hard money loan work? Here’s how they work:

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Finance Hard money loan Home sale contingency Loans 114

HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? Some of these costs, such as property taxes and insurance, apply to homeownership in general.

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Closing costs Closing Purchase and sale agreement Title 105

HomeLight

JULY 31, 2024

Exploring the real estate market in Columbus, Ohio, can be challenging, especially when traditional financing options don’t align with your needs. Whether you’re eyeing a quick property flip in German Village or looking to invest in rental properties near Ohio State University, knowing all of your financing options is essential.

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Finance Hard money loan Home sale contingency Closing costs 110

HomeLight

JULY 29, 2024

Hard money loans offer a quick and flexible financing solution for real estate investors, allowing them to capitalize on opportunities that traditional loans might not support. These loans provide a faster funding option with less focus on your credit score, enabling you to secure the financing you need based on the value of your property.

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Finance Hard money loan Home sale contingency Loans 115