Remove Closing costs Remove FHA loan Remove VA loan
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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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The typical down payment is 10% smaller than a year ago

Housing Wire

Today’s buyers are also able to save money in other ways: Nearly half of sellers are offering concessions, like helping pay for a mortgage-rate buydown or covering closing costs, to attract buyers.” The less competitive market has also resulted in more buyers using FHA and VA loans. a year prior.

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Housing authorities and lenders added 54 homebuyer assistance programs in Q3: report

Housing Wire

A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans. About 74% of the 2,256 homebuyer assistance programs are down payment and closing cost assistance programs.

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How has COVID-19 changed down payment options?

Housing Wire

Both VA and USDA loans require zero down payment. To qualify for a VA loan, borrowers must be military members or veterans and meet certain service requirements. USDA loans, on the other hand, are options for rural homebuyers. FHA loans, or those backed by the Federal Housing Administration, require as little a 3.5%

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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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Today’s Mortgage Rates March 4, 2025: Rates Have Dropped Sharply

Marco Santarelli

VA Loans: For eligible veterans, VA loans offer great benefits, including no down payment and often lower interest rates. FHA Loans: FHA loans are insured by the Federal Housing Administration and are designed for borrowers with lower credit scores or smaller down payments. ARMs can be risky.

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Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.