Remove Closing costs Remove FHA loan Remove Staging
article thumbnail

2025 mortgage predictions: Your playbook for a winning year

Housing Wire

Setting the Stage for 2025 Heres the good news, 2025 is set to stabilize. Heres your game plan: Check your credit: A score of 640 opens the door to FHA loans and down payment assistance programs. Save strategically: Even with down payment assistance, youll need some savings for earnest money and closing costs.

Mortgages 370
article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. And under existing FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Real estate coach Skye Michiels on why sell-side commissions might rise and new models could emerge

Housing Wire

Michiels: So, at this stage, every real estate agent knows. We move forward, we buy a home and the seller is offering 1% toward commission at that stage. They have the money for the down payment, but they don’t have a lot of extra money for extra closing costs, aka commission, right now.

FHA loan 433
article thumbnail

Selling FSBO? Tally Your Closing Costs Without a Realtor

HomeLight

Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price. Mandatory costs include a long list of fees and taxes from involved parties such as the local and state government and mortgage lenders.

article thumbnail

How Much Are Closing Costs in Massachusetts? (And 5 Ways to Reduce Them)

HomeLight

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? 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?

article thumbnail

Buyers’ Closing Costs: How Much, What They Are, and Ways to Save

HomeLight

After finding their dream home and signing the purchase contract , most buyers feel on top of the world … until they see the Loan Estimate or preliminary closing statement (if buying in cash). Did the closing costs for the buyer in particular catch you by surprise? Get Started What does a buyer pay in closing costs?

article thumbnail

Buying Your First House: Tips For Buyers

RIS Media

Closing Costs. Many of these will need to be paid at closing. Sometimes sellers are willing to help with closing costs to make things easier for the buyer. The costs don’t end once you’ve bought the home; you still need to pay to move in. There are numerous benefits to FHA loans.