Housing Wire

MARCH 22, 2023

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.

VA loan 435

VA loan FHA loan Loans Mortgages 435

Housing Wire

NOVEMBER 7, 2023

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

VA loan Agents Seller concession FHA loan 482

Housing Wire

NOVEMBER 9, 2023

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

FHA loan VA loan Finance Loans 482

Housing Wire

DECEMBER 13, 2023

The UWM’s discounted rates apply to the FHA Streamline program, which offers a simplified refinance process with reduced documentation requirements on Federal Housing Administration (FHA) loans. ” Top wholesale lenders have launched new initiatives to boost production at the end of 2023.

Loans 487

Loans VA loan FHA loan Mortgages 487

Housing Wire

JANUARY 3, 2024

The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, according to Joel Kan, MBA’s vice president and deputy chief economist. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% Mortgage applications decreased 9.4%

Mortgages 473

Mortgages VA loan FHA loan Loans 473

Housing Wire

DECEMBER 8, 2021

Regarding the purchase market, Kan said mortgage applications fell after four consecutive increases, but activity is still close to the highest level since March, a positive sign. VA loans comprised 10.7%, increasing seven basis points. Meanwhile, FHA loans went from 8.9% Refinance apps fell 36.5% in the period.

FHA loan 468

FHA loan Mortgages VA loan Fixed-rate mortgage 468

Housing Wire

DECEMBER 21, 2023

While delinquencies remain low overall, the number of delinquent loans ticked up in November, according to the latest ICE Mortgage Monitor report. Furthermore, the delinquency rate among FHA loans is at a nine-year high, and will be worth watching closely in 2024, the report said. Foreclosure starts decreased by 12.2%

Mortgages 459

Mortgages VA loan FHA loan Staging 459

Housing Wire

OCTOBER 12, 2023

While conforming loans still made up the majority of production at 57% in September, conforming volumes trended well below pandemic levels, according to the report. FHA and VA loan production both gained in activity share to 20.6% Rates for FHA loans averaged 7.18%, VA loans were 7% and jumbo loans were 7.6%.

VA loan 471

VA loan Mortgages FHA loan Loans 471

Housing Wire

MARCH 29, 2024

The response rate by mortgage companies to consumer complaints stands at 99%, according to the bureau, and relevant companies “closed 92% of complaints with an explanation, 2% with monetary relief, and 3% with non-monetary relief,” the report stated. As of March 1, 2024, less than 0.1% were pending with the bureau.

Mortgages 457

Mortgages VA loan FHA loan Lending 457

Housing Wire

AUGUST 15, 2024

On an annualized basis, late-payment rates increased 35 bps for conventional loans, 165 bps for Federal Housing Administration (FHA) loans and 93 bps for U.S. Department of Veterans Affairs (VA) loans.

Mortgages 475

Mortgages VA loan FHA loan Staging 475

Housing Wire

MARCH 29, 2022

Origination volume in the Veterans Affairs (VA) universe amounted to $388 billion in 2021, an analysis of Home Mortgage Disclosure Act (HMDA) data by Polygon Research application HMDAVision found. This marks a notable dip in originations from 2020, a record-breaking year in which VA lenders pumped out approximately $427 billion in VA loans.

VA loan 370

VA loan FHA loan Loans Banks 370

Housing Wire

OCTOBER 11, 2023

Application activity remains depressed and close to multi-decade lows, with purchase applications still almost 20% behind last year’s pace,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release. The share of Federal Housing Administration (FHA) loan activity inched down to 14.4% from 14.5%

Loans 431

Loans VA loan FHA loan Mortgages 431

Housing Wire

JUNE 17, 2021

the fourth consecutive month of rising loan sizes and a new survey high. By product type, conventional loans made up 743.9% of loan applications, FHA loans composed 14.8%, RHS/USDA loans cam in around 0.9% and VA loans provided 10.4%. Housing starts data from the U.S.

Sales 511

Sales VA loan FHA loan Loans 511

Housing Wire

DECEMBER 22, 2021

VA loans comprised 11.5%, an increase of nine basis points. Meanwhile, the share of FHA loans remained unchanged at 9.6% The share of USDA loans was 0.5%. Regarding the refi market , Kan said rates at the lowest level in four weeks helped spur an increase across all loan types. on the previous week.

Mortgages 418

Mortgages VA loan FHA loan Fixed-rate mortgage 418

Housing Wire

FEBRUARY 7, 2023

Servicers can only charge up to $900 to process, underwrite and close a transaction that includes a loan assumption. By the Mortgage Bankers Association ’s estimate, it takes on average about $2,500 to process, underwrite and close a government loan. Tozer suggested “a fee of 1.3%

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

FEBRUARY 16, 2023

For the past 15 years, mortgage delinquencies have tracked very closely with employment conditions, Marina Walsh, MBA’s vice president of industry analysis, noted. The FHA loan delinquency rate rose the most by a whopping 209 bps to 10.61% in the fourth quarter from the previous quarter. by the end of 2023.

Mortgages 448

Mortgages Equity VA loan FHA loan 448

Keeping Current Matters

MARCH 22, 2021

According to data from the most recent Origination Insight Report by Ellie Mae , the average FICO® score on closed loans reached 753 in February. Here’s what Experian , a global leader in consumer and business credit reporting, says: Federal Housing Administration (FHA) loans: “With a 3.5%

VA loan 322

VA loan FHA loan Mortgages Lending 322

Housing Wire

SEPTEMBER 20, 2022

The average 30-year fixed-rate rates closed out the month of July at around 5.1% , according to Mortgage News Daily , and hit 6.42% on September 19. With the Federal Reserve expected to conduct its fifth rate hike of the year on Wednesday, industry watchers will be closely watching how the markets respond to the Fed’s actions. .

Sales 370

Sales Mortgages VA loan FHA loan 370

Housing Wire

JULY 20, 2023

Rising mortgage rates in June likely caused some pullback in purchases over the month, as the 30-year fixed rate averaged close to 6.8%. The average loan size decreased from $403,581 in May to $400,281 in June. Conventional loans accounted for 65.5% of loan applications.

Mortgages 370

Mortgages VA loan FHA loan Construction 370

Housing Wire

OCTOBER 27, 2020

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%

VA loan 418

VA loan FHA loan Loans Banks 418

Redfin

FEBRUARY 18, 2025

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?

Closing costs 52

Closing costs Closing VA loan Seller concession 52

Housing Wire

APRIL 4, 2022

The spectacular and historic spike in interest rates will hurt most homebuyers, but one group is especially vulnerable: FHA borrowers. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD.

FHA loan 370

FHA loan Debt-to-income ratio Pre-approval Loan Officer 370

Housing Wire

MAY 24, 2024

Fannie Mae and Freddie Mac both have a number of loans that cater to lower-income borrowers or first-time home buyers and may accommodate low down payments and cancellable mortgage insurance, among other features. Other government-backed loan programs include FHA loans which typically require only a 3.5%

Debt-to-income ratio 468

Debt-to-income ratio Loans Pre-approval VA loan 468

Housing Wire

DECEMBER 4, 2024

Still, further deterioration could pose challenges for some investors and servicers and will warrant close attention, according to industry experts. Walsh said that there’s a “big question mark” related to FHA loans, which recorded a 10.46% delinquency rate in Q3 2024, up from 9.5% in the same period last year.

VA loan 305

VA loan Mortgages Debt-to-income ratio FHA loan 305

Housing Wire

FEBRUARY 19, 2025

Refinance applications had been rising in previous weeks but dipped as rates remained close to 7%. The FHA share of total applications increased to 16.6% the week prior and the VA share of total applications decreased to 14.2% By product, the adjustable-rate mortgage (ARM) share of activity decreased to 5.4% from 16.0%

Fixed-rate mortgage 317

Fixed-rate mortgage Loans Mortgages Closing 317

Housing Wire

JULY 22, 2024

Fifty-five years ago, when I was first licensed, we had a one-page VA loan, a one-page FHA loan, and a one-page listing agreement and two pages for a buying agreement. If you look at the last 50 years of the real estate industry, the rules around residential transactions have become very complex.

Industrial 458

Industrial Technology VA loan FHA loan 458

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

FHA loan 111

FHA loan Loans Pre-approval Pre-qualification 111

Marco Santarelli

MARCH 4, 2025

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.

Mortgages 95

Mortgages Debt-to-income ratio VA loan FHA loan 95

Point2Homes

JULY 29, 2021

As you plan to purchase your first home, you might find that there are a few stressful aspects of the homebuying process that can make or break your purchase: One is when you first apply for a mortgage and another is when you close on a house. Then, if all goes well, the underwriting process will begin and you can prepare for closing.

Closing 141

Closing VA loan FHA loan Loans 141

HomeLight

JUNE 16, 2023

If you’re selling to a buyer backed by an FHA loan , your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. By contrast, most conventional loans require a credit score of 620 or above.

FHA loan 98

FHA loan Loans Inspection Debt-to-income ratio 98

RIS Media

MAY 19, 2021

May vary widely between lenders and are not dependent on the cost of the loan. Items to Be Paid at Close of Escrow. – Prepaid interests, homeowners insurance, VA funding fee, up-front mortgage insurance premium (UFMIP), mortgage insurance. VA funding fees and UFMIP are typically wrapped into the full loan balance.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan. Backed by the U.S.

VA loan 65

VA loan Loans FHA loan Mortgages 65

Rent, Buy & Sell

FEBRUARY 7, 2021

The FHA Loan program was created to help low to moderate-income homebuyers, particularly those that do not have enough cash saved for a down payment. These loans are backed by the Federal Housing Administration and only require a minimum credit score of 500. You will pay a VA funding fee when the deal closes.

Loans 98

Loans VA loan FHA loan Hard money loan 98

Housing Wire

SEPTEMBER 13, 2023

Fannie Mae and Freddie Mac loans – nearly two-thirds of the mortgage market – are not eligible to be assumed. Servicers can only charge up to $900 to process, underwrite and close a transaction that includes a loan assumption. And there are some significant “infrastructure” updates needed, experts say.

Mortgages 459

Mortgages Loans Banks Investor 459

Real Trends

NOVEMBER 11, 2022

FHA loans aim to make homeownership possible for borrowers with less-than-perfect credit and without a large down payment requirement. Backed by the Federal Housing Administration, FHA loans have more competitive interest rates, something that could be key for buyers in today’s market. 2-1 buydowns.

Finance 113

Finance VA loan FHA loan Agents 113

Point2Homes

MAY 21, 2021

For instance, in addition to a variety of new terms to understand, there’s also paperwork to complete and fees to pay before closing on your new home. Below, we’ll review first-time homebuyer loans and programs that will give you a better deal when you purchase a house.

Loans 144

Loans VA loan FHA loan Renovation 144

Lab Coat Agents

MAY 21, 2024

Qualification Process: While buyers still need to qualify for an assumable mortgage, the process may be more streamlined compared to applying for a new loan. Types of Assumable Mortgages There are three primary types of assumable mortgages: VA Loans: Backed by the U.S.

VA loan 98

VA loan Mortgages Loans FHA loan 98