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How big of a down payment do you really need?

Housing Wire

What type of loan: FHA loan. FHA loans are backed by the Federal Housing Administration. These insured loans are a type of federal assistance and require as little as a 3.5% If your credit score is between 500-579, FHA loans require 10% of the purchase price. 0% down payments. 0% down payments.

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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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Smaller IMBs are better placed to weather challenges than larger ones, CHLA claims

Housing Wire

The IMBs originated 90% of FHA and VA loans and issued 90% of Ginnie Mae mortgage-backed security, the report said. In 2021, non-depository institutions accounted for 64% of first-lien, owner-occupied, site-built home-purchase loans. Department of Housing and Urban Development (HUD).

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The impact of student loans on buying a home

Housing Wire

Other government-backed loan programs include FHA loans which typically require only a 3.5% down payment, as well as VA loans for active-duty service members, surviving spouses, and veterans, which do not require a down payment or mortgage insurance.

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Mortgage rates plummet and everything has suddenly changed — for now

Housing Wire

Indeed, one West Coast LO told HousingWire that he quoted a borrower a 5.75% rate on a 30-year FHA loan for a $500,000 Southern California home purchase. Here’s how LOs are handling the sudden drop in rates. The borrower had a 700 FICO score and is putting down 3.5%. ”

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Can Closing Costs Be Rolled Into Your Mortgage?

Redfin

FHA loans An FHA loan is a mortgage loan that’s insured by the Federal Housing Administration (FHA). This means the FHA guarantees the loan, which makes lenders more willing to offer mortgages to people who might not qualify for a traditional loan.

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7 Things Sellers Need to Know About FHA Loans When Fielding Offers

HomeLight

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.

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