RIS Media

MAY 19, 2021

Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Here’s how you can explain it to your buyers: 1.

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Closing costs Closing Pre-approval VA loan 116

RIS Media

OCTOBER 29, 2020

The Federal Housing Administration (FHA) backs the FHA loans program. FHA mortgage programs are one of the most popular among first-time homebuyers. There are numerous benefits to FHA loans. If you are a veteran or currently serving, the VA loans program offers great terms. Home Inspections.

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Pre-approval FHA loan Inspection Closing costs 140

HomeLight

NOVEMBER 29, 2021

FHA loans. A Federal Housing Administration (FHA) loan is a government-backed mortgage loan. Lenders are protected with these loans because the FHA will spring into action if the borrower stops making payments on the loan. USDA loans. The minimum down payment is 3.5%.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 110

HomeLight

AUGUST 9, 2022

Closings costs for buyers often clock in between 2% and 5% of the purchase price, and expenses beyond your down payment may include some (or all) of the following: Property inspections. Loan origination fee. A VA loan provides 100% financing with no money down — so no down payment. Property taxes. Transfer tax.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 111

Redfin

JANUARY 28, 2025

FHA loans These loans are popular for their flexible credit requirements and low down payment options, which make homeownership more accessible. FHA loans are assumable , but the buyer must meet the lenders approval criteria, including a sufficient credit score and stable income.

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Loans Mortgages VA loan Purchase and sale agreement 31

HomeLight

MARCH 7, 2025

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Hvizda says pre-listing inspections arent very popular right now, given market conditions.

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As-is Inspection Finance Investor 52

HomeLight

MARCH 7, 2025

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Ive seen it go both ways, so Im open-minded to the idea of a pre-listing inspection.

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As-is Inspection Finance Investor 52

HomeLight

SEPTEMBER 1, 2022

An FHA loan is insured by the Federal Housing Administration and available from FHA-approved lenders. An FHA loan is unique in that borrowers are able to use a down payment assistance program for the entire down payment. Mortgage insurance premium (MIP) paid monthly for the life of the loan. down payment.

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Earnest money deposit VA loan Loans FHA loan 115

HomeLight

SEPTEMBER 1, 2022

Non-conforming loans are for borrowers who do not fit into the guidelines set by Fannie and Freddie and are not eligible to be purchased by them — jumbo loans are an example of this because they offer loan amounts above the limits set by Fannie and Freddie. VA loans : For veterans, service members, and surviving spouses.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 111

Marco Santarelli

DECEMBER 22, 2024

Government Loans (FHA/VA) : These loans typically cater to those who might not qualify for conventional mortgages. FHA loans have low minimum requirements for credit and down payments, making them accessible. VA loans are available to veterans and active military members with favorable terms and conditions.

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Mortgages Equity Fixed-rate mortgage Loans 52

HomeLight

JULY 31, 2022

It’s important to distinguish that appraisals are not intended to be a home inspection. While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards.

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Closing FHA loan Purchase and sale agreement Inspection 98

Redfin

MARCH 4, 2025

That means there’s no home inspection or appraisal. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans. If a buyer with a government-backed loan goes into foreclosure, the government will take control of the property.

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Pre-approval FHA loan Short sale Banks 31

HomeLight

SEPTEMBER 1, 2022

Raymer says that for her clients, especially first-time buyers, she suggests an FHA loan, which only requires 3.5% FHA is really one of the best options,” she advises. An FHA loan is insured by the Federal Housing Administration and available from FHA-approved lenders. Order inspections and appraisal.

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HomeLight

MARCH 12, 2025

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Adabashi says a pre-listing inspection is an absolute yes when selling your home as-is.

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As-is Inspection Finance Investor 52

HomeLight

MARCH 2, 2023

Non-conforming loans are for borrowers who do not fit into the guidelines set by Fannie and Freddie and are not eligible to be purchased by them — jumbo loans are an example of this because they offer loan amounts above the limits set by Fannie and Freddie. Loans backed by the VA offer 0% down payments for those who qualify.

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Closing Earnest money deposit Sales Inspection 118

HomeLight

SEPTEMBER 30, 2020

Once you connect with a good lender, find out what your loan options are. Some loans like FHA loans , USDA loans , or VA loans allow you to purchase a home with a low down payment (3.5% down for FHA and 0% down for USDA or VA), but with a few caveats.

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HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. It’s also important to know what the inspection process involves, depending on the house’s location. “In

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Pre-approval Pre-qualification FHA loan Inspection 105

HomeLight

MAY 28, 2021

An example: Let’s say a property is listed as-is, and a home inspection finds a leaky roof and foundation issues. Another misconception is that a home inspection isn’t allowed. An inspection can tell you upfront the exact issues with the house so you know what money you might have to spend down the line.

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HomeLight

DECEMBER 30, 2021

Because lenders carry less risk, these types of loans are a popular offer for first-time buyers who may not have a large down payment or a strong enough credit score to qualify for a conventional loan. Your adjusted household income can’t exceed 115% of the area’s median income for a USDA home loan. What are conventional loans?

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Loans FHA loan Debt-to-income ratio VA loan 98

HomeLight

JANUARY 12, 2022

Next steps include the home inspection, appraisal, and final paperwork. But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. Broken down by type of loan, you can expect the following: . Conventional loan. Complete home inspection: 5-15 days.

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Closing Purchase and sale agreement Pre-approval Inspection 116

HomeLight

MARCH 6, 2023

Non-conforming loans are for borrowers who do not fit into the guidelines set by Fannie and Freddie and are not eligible to be purchased by them — jumbo loans are an example of this because they offer loan amounts above the limits set by Fannie and Freddie. Loans backed by the VA offer 0% down payments for those who qualify.

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HomeLight

MAY 8, 2024

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard on, except that the seller pays for it before listing their home on the market. These are standards related to the overall condition of a property which will play a role in the willingness and/or ability of a lender to finance a buyer’s loan.

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HomeLight

MARCH 3, 2025

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Youre looking for an agent who doesnt shy away from listings that need a little TLC and maybe has a strong network of investor connections.

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As-is Purchase and sale agreement Inspection Finance 52

HomeLight

OCTOBER 27, 2021

If you’re going to be buying the preforeclosure with a mortgage, your purchase agreement is contingent on your ability to secure a loan, so getting preapproved is important. For this type of home purchase, you can get either a conventional loan or government loan (such as an FHA loan or VA loan ).

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Purchase and sale agreement Inspection Homeowner’s association Title 110

HomeLight

JUNE 22, 2023

Credit scores typically fall into one of these ratings: 580 and below: poor 580-669: fair 679-739: good 740-799: very good 800-850: excellent The minimum credit score you need to be approved for a mortgage will depend on what kind of loan you are applying for. to 1% of the loan amount annually. It usually costs between 0.5%

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Debt-to-income ratio Mortgages FHA loan Loans 98

Redfin

FEBRUARY 3, 2021

Common types of loans with low to no down payments include FHA, VA, and USDA loans. With FHA loans – loans designed for individuals with a low-to-moderate income level and credit score- your down payment could be as low as 3.5%. down payment FHA loan.

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VA loan FHA loan Inspection Loans 63

The Close

AUGUST 6, 2024

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. Notably, falling below MPR standards could be a deal breaker for some homebuyer programs, such as a Federal Housing Authority (FHA) loan or VA loan.

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HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. Conventional loans closed in an average of 47 days in July 2021, while FHA loans took 51 days, and VA loans required an average of 52 to close. Each step can take a few days.

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HomeLight

JUNE 21, 2023

It does this by offering discounts through affiliated real estate agents, lenders, and title and inspection specialists, so you’re saving money while paying it forward. An average $50 savings on the home inspection. Veterans also can combine a VA loan with this program. Program highlights Buyers save 0.7%

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Loans Debt-to-income ratio FHA loan Closing costs 98

HomeLight

MAY 23, 2022

Schaus does business in the area of Fort Bragg, which means that Department of Veterans Affairs home loans ( VA loans ) are used very often by buyers. Consider a pre-listing inspection. Schaus does warn that there can be a downside to these pre-inspections, as well. Prioritize a cash offer if you receive one.

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HomeLight

APRIL 5, 2023

In many cases, Bean will advise sellers to wait for the home inspection report and the buyer’s requests. That way, you don’t “waste” money on cosmetic changes that may be needed to fix issues discovered by an inspection. However, you might want to fix something that opens up your home to different loan types. “If

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Inspection Renovation Agents VA loan 133

HomeLight

JANUARY 22, 2024

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard one except that the seller pays for it before listing their home on the market. Megel says that a pre-listing inspection makes little sense for sellers considering an as-is sale. “If increase over the year prior.

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HomeLight

AUGUST 20, 2021

Typically within a week after you’ve had the house inspected, you’ll most likely have to endure a home appraisal , a professional assessment of your home’s value. FHA loans require a special appraisal. The FHA appraiser ensures that the property meets HUD’s minimum property requirements. .”

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FHA loan Inspection Pre-approval Loans 105

HomeLight

MARCH 24, 2022

While the appraisal may take longer than the home inspection did, it generally won’t take long enough to leave you on the edge of your seat. There are three key components to the home appraisal report : The physical inspection, the comparable sales selection (typically), and the evaluation of data. Physical inspection.

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FHA loan Inspection Loans Sales 105

HomeLight

APRIL 11, 2024

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Considering 80% of Americans say they would prefer to buy a move-in ready home, an “as is” sale likely has a reduced buyer pool from the start.

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As-is Inspection Finance Investor 110

HomeLight

DECEMBER 31, 2023

Consider a pre-listing inspection A pre-listing home inspection is the same as a standard one except that the seller pays for it before listing their home on the market. Billings says pre-inspections ultimately give sellers more tools to entice potential buyers better.

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As-is Inspection Finance Loans 109

HomeLight

JANUARY 27, 2021

You can usually shop around for the home inspection , title and settlement services, and home insurance. Also, lender fees — which can add up to 3% onto the loan amount — are entirely at the lender’s discretion. Other features : FHA loans have higher rates and fees than other options, and they require mortgage insurance.

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