Remove Equity Remove FHA loan Remove VA loan
article thumbnail

Loan officers are seeing an uptick in FHA, VA demand

Housing Wire

According to the MBA, rates for Federal Housing Administration (FHA) loans dipped to 6.42%, while refinance activity posted its fastest pace since October 2024. The move in government refinances was driven by a 75% increase in VA loans, which have been prone to large changes in recent months.

article thumbnail

Better launches fully digital VA loan with no minimum down payment

Housing Wire

Department of Veteran Affairs (VA) loans through its Tinman platform. We’ve been working toward launching a VA product for the past two years,” Vishal Garg, founder and CEO of Better, said in an interview with HousingWire. Better’s rate for VA loans was 6.375% as of Tuesday afternoon, the company said.

VA loan 433
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

High mortgage rates sideline homeowners from tapping home equity: ICE

Housing Wire

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Rising equity levels are also contributing to low default and foreclosure activity. In 2024, roughly 75% of originations expected to come from purchase loans.

Equity 468
article thumbnail

All-cash transactions gain traction amid high mortgage rates: Redfin

Housing Wire

It is worth noting that some buyers are using equity from the sale of their previous home to make a relatively larger down payment on their new purchase. FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. in April 2023.

FHA loan 468
article thumbnail

Weaker economy, inflation caused mortgage delinquency uptick in Q4

Housing Wire

Delinquency rates — which includes loans that are at least one payment past due but does not include loans in the foreclosure process — rose across all loan types and stages of delinquency. The FHA loan delinquency rate rose the most by a whopping 209 bps to 10.61% in the fourth quarter from the previous quarter.

Mortgages 448
article thumbnail

Mortgage delinquency, foreclosure activity point to rising homeowner distress

Housing Wire

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. These shifts may highlight growing pressures in certain areas.

Mortgages 473
article thumbnail

CFPB takes a closer look at consumer mortgage complaints

Housing Wire

The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).

Mortgages 449