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. Are we really doing those types of loans and promoting homeownership again without understanding the risks?

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Loans Banks Equity Bankruptcy 544

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack.

Lending 366

Lending Marketing Pre-qualification Pre-approval 366

Housing Wire

JUNE 12, 2024

An analysis released Wednesday by Columbia, Missouri -based lender Veterans United Home Loans revealed that the home loan program through the U.S. The VA loan program — which was established in 1944 through the GI Bill — will celebrate its 80th anniversary on June 22. Department of Veterans Affairs (VA) has contributed $3.9

VA loan 452

VA loan Loans As-is Mortgages 452

Housing Wire

MAY 10, 2021

Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. This product provides an entry point for contractors to introduce homeowners to lending solutions for their projects.

Renovation 397

Renovation Finance Loans Lending 397

Housing Wire

MARCH 25, 2021

Do I need to pay off my student loans before buying my first home? What it really comes down to is whether or not you feel comfortable paying a mortgage (and all the other fun expenses that come with having a home), while also paying off student loans. For example, a conventional loan lets you put as little as 3% down.

Debt-to-income ratio 511

Debt-to-income ratio Loans FHA loan Finance 511

Housing Wire

APRIL 13, 2022

Title insurance protects borrowers from financial loss if the lender discovers a defect in the title to the property (for example, a previous mortgage) and demands a borrower to pay back the loan. A lack of conformity in title insurance creates predatory lending. Regulations are only able to cover so much.

Title 394

Title Lending Closing Closing costs 394

HomeLight

JULY 18, 2024

Are you looking to fund your next real estate venture in Alabama with a hard money loan ? Hard money loans are an alternative to conventional loans and are particularly beneficial for those with tight project timelines, limited capital, or various credit issues. How does a hard money loan work?

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Hard money loan Loans Home sale contingency Lending 111

Housing Wire

NOVEMBER 7, 2023

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% VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. “It points from the 7.5%

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VA loan Agents Seller concession FHA loan 482

HomeLight

JULY 18, 2024

With a focus on property value rather than credit scores, hard money loans offer a streamlined path to funding, perfect for those needing quick turnarounds. In this article, we’ll explore the ins and outs of hard money lending in Philadelphia, from understanding the basics to evaluating costs and alternatives.

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Hard money loan Loans Home sale contingency Lending 116

HomeLight

JULY 26, 2024

Hard money loans provide a quick funding solution based on the property’s value rather than your credit score or income history. This article will guide you through the essentials of hard money lending in NY, helping you determine if this type of loan suits your real estate needs. How does a hard money loan work?

Hard money loan 111

Hard money loan Loans Home sale contingency Lending 111

HomeLight

JULY 25, 2024

A hard money loan could help you secure that perfect investment property, whether you’re looking to renovate a historic home in Cleveland Heights or purchase an apartment complex in The Flats. Ideal for situations involving tight timelines or limited startup capital, hard money loans offer an effective alternative to conventional financing.

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Hard money loan Loans Home sale contingency Lending 115

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Mortgage , and/or Closing Cost Credit. One of the biggest barriers to achieving homeownership is coming up with the down payment.”

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

MARCH 2, 2021

HousingWire: What are some due diligence and underwriting challenges loan originators face today? Historically low interest rates in 2020 led to an all-time high in mortgage lending for new loans, but with forbearance moratorium deadlines being extended, some lenders are getting nervous. It’s easy to see why. Altisource does.

Title 323

Title Lending Due diligence Title search 323

Housing Wire

APRIL 26, 2024

FHA will move forward with its proposal that permits contributions by the property seller, real estate agent, builder, or developer to HECM for Purchase borrowers’ closing costs,” the update said. These credits can lead to fair lending violations.

Closing costs 488

Closing costs Development Equity Closing 488

HomeLight

JULY 2, 2024

Looking to kickstart your next real estate project in Miami with a hard money loan? These loans can be used for various property types, from fixer-uppers in Little Havana to condos in Brickell intended for long-term rentals. In this guide, we’ll cover everything you need to know about hard money lending in Miami.

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Hard money loan Loans Home sale contingency Finance 114

Housing Wire

JULY 7, 2022

Can Fannie Mae ’s housing equity plan make a meaningful dent in the 30 percentage point racial homeownership gap without a broad review of loan pricing? Since Fannie Mae implemented the program nearly a year ago, Evans said 2,000 loan applications became eligible for purchase which otherwise wouldn’t have before its inception.

Equity 448

Equity Lending Closing costs Development 448

HomeLight

JULY 9, 2024

Are you looking to finance your next real estate project in Georgia with a hard money loan ? These loans are particularly useful for those with tight timelines, limited initial funds, or credit challenges. A hard money lender is a private individual or company that provides short-term loans secured by real estate.

Hard money loan 111

Hard money loan Loans Home sale contingency Finance 111

HomeLight

JULY 5, 2024

Looking to fund your next real estate project in Seattle with a hard money loan ? These loans are a great alternative to traditional financing, especially for short-term projects or those with credit issues. In this guide, we’ll break down how hard money loans work in Seattle, their costs, and alternative financing options.

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Hard money loan Loans Home sale contingency Finance 116

HomeLight

JUNE 30, 2024

Looking to fund your next real estate project in San Antonio with a hard money loan? Hard money loans serve as an alternative to traditional financing, and are especially useful for those with tight project timelines, limited capital, or credit challenges. Additional costs can include origination fees, closing costs, and points.

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Hard money loan Loans Home sale contingency Finance 116

HomeLight

JULY 12, 2024

Are you planning your next real estate investment in Virginia and considering a hard money loan? Hard money loans are particularly beneficial for those dealing with tight schedules, less-than-perfect credit, or unconventional projects. Borrowers may also encounter origination fees, closing costs, and points.

Hard money loan 106

Hard money loan Loans Home sale contingency Lending 106

Housing Wire

NOVEMBER 6, 2024

Wehmann added that, after the change, “FICO’s share will remain only approximately two-tenths of one percent” of the total average closing costs of $6,000. Lenders are required to obtain FICO scores and three credit reports to make most loans to prospective homebuyers and homeowners looking to refinance.

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Closing costs Mortgages Industrial Lending 418

Housing Wire

AUGUST 5, 2020

For example, about two weeks ago, Quicken Loans advertised a “limited-time” rate of 1.99% on 15-year mortgages. According to one broker, Parkside Lending and Stearns Lending are offering a 15-year-fixed rate as low as 1.75% to some mortgage brokers, depending on the relationship. (We He pointed out that there are restrictions.

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Mortgages Loan Officer Lending Loans 528

Housing Wire

JULY 22, 2024

Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process. Can you connect those dots for me? Ed Gerding: Sure.

VA loan 438

VA loan Lending Banks Investor 438

HomeLight

JULY 22, 2024

Are you hoping to finance your next real estate acquisition in Wisconsin with a hard money loan ? Hard money loans are a useful financing solution to conventional loans, particularly beneficial for those with short project timelines, limited initial capital, or credit issues. How does a hard money loan work?

Hard money loan 111

Hard money loan Loans Home sale contingency Finance 111

HomeLight

JULY 15, 2024

This article will walk you through the ins and outs of hard money loans, explaining how they can help you achieve your real estate goals in Oregon. A hard money lender is a private entity or individual offering short-term loans secured by real estate. They typically lend a percentage of the ARV to secure their investment.

Hard money loan 111

Hard money loan Loans Home sale contingency Equity 111

HomeLight

APRIL 12, 2023

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?

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Closing costs Closing Purchase and sale agreement Title search 104

HomeLight

JULY 9, 2024

A hard money loan might be just what you need. These loans are especially useful for short-term projects and those with limited initial funds or credit issues. This article will dig into the essentials of hard money lending in Detroit, guiding you to make informed decisions that align with your real estate objectives.

Hard money loan 114

Hard money loan Loans Home sale contingency Equity 114

HomeLight

SEPTEMBER 16, 2024

If you’re planning to make home improvements, consolidate debt, or cover other expenses, you may be wondering, “How do I get a home equity loan?” Check now What is a home equity loan? A home equity loan allows you to borrow against the value of your home minus what you still owe on your mortgage. How do I get a home equity loan?

Equity 110

Equity Loans Loan Officer Lending 110

HomeLight

JUNE 20, 2024

Are you looking to finance your next real estate project in Houston with a hard money loan ? These loans are particularly useful for investors needing quick access to funds and for those whose credit history might not meet conventional loan requirements. Borrowers also face origination fees, closing costs, and points.

Hard money loan 115

Hard money loan Loans Home sale contingency Finance 115

HomeLight

JUNE 15, 2023

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?

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Closing costs Closing Title Inspection 98

RIS Media

MAY 19, 2021

The loan process is a whole different process that can seem like a foreign language. Most buyers just want to know what fees and costs are associated with their new home purchase or refinance. Non-Recurring Costs Associated With the Lender. May vary widely between lenders and are not dependent on the cost of the loan.

Closing costs 116

Closing costs Closing VA loan Pre-approval 116

HomeLight

JUNE 21, 2024

Are you planning your next real estate investment in Texas and considering a hard money loan ? These loans are an alternative to traditional financing and are ideal for projects with tight deadlines, limited upfront capital, or credit challenges. Costs typically include origination fees, closing costs, and points.

Loans 98

Loans Hard money loan Home sale contingency Equity 98

Housing Wire

NOVEMBER 8, 2022

LodeStar Software Solutions, a provider of compliance tools for mortgage lenders, has partnered with loan origination system and software provider LendingPad, it announced on Tuesday. The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform.

Closing costs 370

Closing costs Title Lending Loans 370

Housing Wire

JUNE 11, 2024

Thus, keeping abreast of regulatory and investor updates and trends is vital to maintaining loan quality and compliance. How are lenders managing loan quality these days? Trevor Gauthier: Overall, lenders are managing loan quality quite well. What are some of the current compliance issues/trends that could impact loan quality?

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Loans Lending Mortgages Closing costs 438

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers.

Debt-to-income ratio 435

Debt-to-income ratio Closing costs Finance Lending 435

Housing Wire

APRIL 26, 2023

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. Strategies to differentiate themselves include buying leads, providing niche loans and getting on builders’ preferred lender list.

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Loan Officer Mortgages Loans Closing costs 418

Housing Wire

OCTOBER 31, 2024

Though mortgage lenders don’t want to charge borrowers upfront, many have had to because the pull-through rate on loans makes it economically infeasible otherwise, especially for refis. Indeed, FICO argued in March that its royalties constitute just 15% of a tri-merge credit report and 2/10ths of 1% of mortgage closing costs.

Industrial 467

Industrial Mortgages Closing costs Lending 467