Remove Closing Remove Closing costs Remove FHA loan
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2025 mortgage predictions: Your playbook for a winning year

Housing Wire

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. Many sellers are offering to cover 2-3% of closing costs.

Mortgages 370
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USA Today: If Social Security falters, reverse mortgages could be worth a look

Housing Wire

The column is likely referencing the Home Equity Conversion Mortgage ( HECM ) program insured by the Federal Housing Administration (FHA). Loan proceeds are dependent on the amount of equity in the home and current interest rates, the column noted, and there are multiple disbursement options available, the column noted.

FHA loan 370
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Better rolls out FHA streamline refi product

Housing Wire

the parent of digital lender Better.com , rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. Better Home & Finance Holding Co. , In its second-quarter 2024 financial earnings, Better.com posted a net loss of $42.2 million, an improvement from the previous quarter’s loss of $51.5 million.

FHA loan 448
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More FHA borrowers are using piggyback loans that bear watching: CoreLogic

Housing Wire

They are usually used to finance the down payment or closing costs and typically work in an 80-10-10 structure with the first mortgage covering 80% of the total cost, the piggyback covering 10% and the borrower paying the remaining 10%. However, despite wide expectations that home prices will continue to rise and that the U.S.

Loans 476
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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.

FHA loan 482
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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%

VA loan 482
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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?