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FinLocker says it will cover 100% of mortgage verification costs

Housing Wire

Self-branded “financial fitness” platform FinLocker announced Wednesday that it will cover 100% of the verification costs for mortgage borrowers who use lenders’ FinLocker-powered apps. ” FinLocker indicated that future initiatives will target other high-cost areas like title expenses. ”

Mortgages 306
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Black Friday deals on a new home? Here you go

Housing Wire

Chicago’s offerings include doorbuster deals on Quick Move-In homes, which reduce pricing up to $93,850 if the home closes this year. Buyers using this incentive can qualify for either a 3/2/1 rate buydown on a 30-year FHA Fixed-rate Mortgage or a 3/2/1 rate buydown on a 30-year conventional fixed-rate mortgage.

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Rocket Mortgage to buyers: Use a partner agent, save big on closing costs

Housing Wire

Rocket Mortgage is throwing a big incentive at spring homebuyers, offering them up to $10,000 in closing cost credits if they work with a real estate agent through its affiliate, Rocket Homes. of their loan amount to put toward closing costs, helping defray upfront costs. billion in the third quarter.

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Reverse mortgages could be ‘practical’ long-term care funding option

Housing Wire

Health care information and caregiving marketplace website Care.com published an article that examines several practical ways that someone could choose to finance their long-term care (LTC) goals. The reverse mortgage industry has aimed in recent years to position itself as a potential avenue to fund LTC directly or pay for LTC insurance.

Mortgages 358
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Fannie Mae title pilot could save homeowners up to $1,692 per refi

Housing Wire

In their analysis, Nigrinis and Zywicki found that borrowers refinancing their mortgage could save an estimated $2.19 The Federal Housing Finance Agency had previously estimated that the pilot could save consumers between $500 and $1,500 per transaction. billion in total or as much as $1,692 per loan.

Title 468
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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? They own the home with their name on the title, as with any mortgage, traditional or reverse. Yet staggeringly few are aware of its existence.

Finance 482
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Opinion: The myth of financing buyer agent commissions

Housing Wire

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. Would it be worth the effort? It’s a bad idea.

Finance 448