Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. Fratantoni noted that government purchase volume was down less, aided by growth in U.S. The refinance share of mortgage activity decreased to 31.1%

VA loan 474

VA loan Mortgages Fixed-rate mortgage Loans 474

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. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage.

VA loan 319

VA loan FHA loan Mortgages Lending 319

Housing Wire

FEBRUARY 7, 2023

of the balance of a loan being assumed would be fair to both the borrower and the servicer.” ” Other stakeholders want even higher fees so they can compensate loan officers. In a June 2022 letter, nonbank trade group Community Home Lending Association suggested increasing the lender fee to 2%, plus a $500 underwriting fee.

FHA loan 397

FHA loan Mortgages Loan Officer VA loan 397

Housing Wire

DECEMBER 4, 2024

But government loans trended slightly upward. Federal Housing Administration (FHA) loans remained at 16% of all applications. Department of Veterans Affairs (VA) loans grew their share to 13.6%, compared to 12.4% Department of Agriculture (USDA) loans dropped 1 bps to 0.4%. in the prior week.

Mortgages 396

Mortgages VA loan FHA loan Loans 396

Housing Wire

OCTOBER 27, 2020

Mortgage lending has gotten stricter during the COVID-19 pandemic. 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.

VA loan 418

VA loan FHA loan Loans Banks 418

Housing Wire

MARCH 13, 2023

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. ” The share of locks with adjustable rates rose in February to 10.3%, while nonconforming loans – consisting of 12.2% of the total loan product mix — picked up share.

Loans 370

Loans VA loan Mortgages FHA loan 370

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. 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.

Mortgages 514

Mortgages FHA loan Loans Loan Officer 514

Housing Wire

MARCH 5, 2024

trillion in FHA and VA loans. In other words, they don’t know that their FHA or VA loan can be attached to the home sale when they sell it. This includes ensuring the transaction adheres to consumer protection laws and fair lending practices, and a 45-day maximum for completing the approval process.

VA loan 468

VA loan Mortgages Loans Agents 468

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

DECEMBER 4, 2024

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% Department of Veterans Affairs (VA) loans and the 30-bps uptick for conventional mortgages. The relative resilience of VA loans may be linked to policy interventions, Walsh explained.

VA loan 305

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

Housing Wire

OCTOBER 11, 2024

Lending volumes remained relatively steady over the past year, which the firm tied to “continued high interest rates.” “The stability in the volumes of loans as well as the types of transactions over the last two years is reflected in the relatively steadiness of the aggregated National Mortgage Fraud Index.

Mortgages 516

Mortgages Sales Loans Lending 516

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

Housing Wire

MAY 31, 2022

Mortgage lender Planet Home Lending has a new team in Portland, Oregon, where it will focus on borrowers looking to work with homebuilders. The firm also said its personal digital mortgage assistance program, Skymore by Planet Home Lending, will allow consumers to apply for a home loan via their mobile device.

Mortgages 397

Mortgages Loans Lending Construction 397

Housing Wire

MARCH 31, 2021

HousingWire recently sat down with Tom Hutchens, Angel Oak EVP of production, who shared how non-QM lending could be an effective way for lenders to replace lost business in the event of a refi boom slowdown. The refinance index decreased 3% from the previous week and was 32% lower than the same week one year ago. Presented by: Angel Oak.

Fixed-rate mortgage 459

Fixed-rate mortgage Mortgages Loans Lending 459

Housing Wire

JUNE 12, 2023

Overall, May was an improvement over April, but mortgage lending remains constrained. While rate locks on purchase loans rose from April, they also dipped to their lowest level yet relative to 2018 and 2019 averages as rates rose late in the month,” Andy Walden , vice president of enterprise research at Black Knight, said.

Loans 448

Loans Mortgages Lending Marketing 448

Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. FHA and VA guidelines during Chapter 13 Bankruptcy is almost the same. HA and/or VA Mortgage During Chapter 13 Bankruptcy Repayment Plan.

Bankruptcy 120

Bankruptcy Debt-to-income ratio VA loan FHA loan 120

Housing Wire

OCTOBER 24, 2022

Ginnie serves as the government-backed securitization pipeline for loans insured by government agencies that provide loan-level mortgage-insurance coverage through their lending programs. Unlike Fannie and Freddie, however, Ginnie does not purchase loans. Department of Veterans Affairs (VA).

Principal 334

Principal Banks Loans Mortgages 334

Rent, Buy & Sell

FEBRUARY 7, 2021

As such, if your credit score is below 500 you should probably work on rebuilding your credit score first, because even with alternative lending options this score may be too low to finance a home. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record. There are some drawback to VA loans.

Loans 98

Loans VA loan FHA loan Hard money loan 98

HomeLight

NOVEMBER 6, 2023

Here are some common types of mortgage loans and their assumability: 1. FHA loans Federal Housing Administration ( FHA ) loans are often assumable. This means that a qualified buyer can take over the existing FHA loan, subject to lender approval. VA funding fee.

FHA loan 111

FHA loan VA loan Mortgages Marketing 111

Housing Wire

JULY 12, 2023

Purchase loans continue to claim a larger share of a shrinking origination pipeline, as refinance opportunities remain scarce. Indeed, we saw the purchase lending share of June’s locks hit another all-time high. Refi share of lock volume dipped to 11.6%, a new low for this cycle.

Marketing 369

Marketing Loans Lending Mortgages 369

HomeLight

NOVEMBER 20, 2023

Instead of securing a new mortgage with higher rates, a buyer can assume the home seller’s existing interest rate, principal balance, repayment period, and other terms of the lending agreement. “A A qualified buyer must meet standard FHA loan requirements, such as a minimum credit score of 580 and a 3.5% down payment.

FHA loan 115

FHA loan Mortgages VA loan Loans 115

HomeLight

DECEMBER 28, 2023

Here’s a quick rundown of the common types of loans that are assumable: FHA loans: Backed by the Federal Housing Administration , these loans are assumable. However, the person assuming the loan must meet the FHA’s lending criteria. Most conventional loans are not assumable.

Loans 119

Loans Purchase and sale agreement VA loan Mortgages 119

Point2Homes

JULY 5, 2021

This type of loan is made available through private lending institutions, such as banks and mortgage companies. The minimum credit score required for a conventional loan is typically 620. An FHA mortgage is a loan backed by the Federal Housing Administration, provided through an FHA-approved lender.

FHA loan 103

FHA loan Mortgages Debt-to-income ratio VA loan 103

HomeLight

OCTOBER 15, 2020

But that same lender can’t issue a conforming loan to a buyer with a 540 credit score, as that’s lower than the minimum Fannie and Freddie requirement. When the economy is shaky or lending becomes riskier, lenders can tighten their requirements , and it can be harder to get a conforming loan. Pros of a conventional loan.

Loans 98

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

Housing Wire

NOVEMBER 27, 2024

wholesale lender United Wholesale Mortgage (UWM) has taken another aggressive move related to its product set, underscoring its strong commitment to government-backed loans. On Wednesday, the company announced the removal of all loan-level pricing adjustments (LLPAs) on government loans, albeit with some limitations.

Loans 418

Loans Finance Mortgages VA loan 418

Redfin

OCTOBER 27, 2020

A mortgage that requires $0 down, VA loans are a competitive and affordable way for veterans laying down roots to save. VA loans are perfect for veteran first-time homebuyers who do not have enough money for a down payment. Funding fees are required with VA loans, which are not generally included in standard mortgages.

VA loan 66

VA loan FHA loan Closing costs Loans 66

RIS Media

DECEMBER 19, 2020

Here’s some information that can help you to figure out how and when to apply for a loan this year: Pay Attention to Falling Rates. One of the best ways to figure out when to apply for home loans is to keep track of the interest rates set by the Federal Reserve.

Loans 105

Loans Pre-qualification Pre-approval VA loan 105

Realty Biz

MARCH 28, 2023

Real estate investors often can’t find the same types of attractive home lending terms as those who are purchasing a residential home exclusively to live in. FHA Loans With backing from the Federal Housing Administration, an FHA loan has extremely low credit requirements and can be obtained for down payments as modest as 3.5

VA loan 77

VA loan FHA loan Debt-to-income ratio Investor 77

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Consider alternative mortgage options: If traditional mortgages don't work out, explore alternative options such as FHA loans, VA loans, or USDA loans.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

RIS Media

MAY 19, 2021

Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs. It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home.

Closing costs 116

Closing costs Closing VA loan Pre-approval 116

Eye on Housing

JANUARY 26, 2024

In contrast, the share of new home sales backed by VA loans fell to a 16-year low of 4.8% NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 Read More ›

VA loan 101

VA loan Sales Finance Loans 101

RIS Media

AUGUST 5, 2020

Just 6 percent and 2 percent of Asian loan applications are for FHA loans and VA loans, respectively. A desire to avoid the additional paperwork and requirements of FHA loans, or sellers’ aversion to working with FHA-financed buyers in highly competitive markets. Not wanting to pay PMI.

VA loan 95

VA loan FHA loan Pre-qualification Loans 95

HomeLight

AUGUST 27, 2020

With so many instances of foreclosures and mortgage defaults, there weren’t very many homebuyers in the market, and lending standards were tight. These federal loans often have less restrictive qualification requirements and often are more affordable than other mortgage options. Have the financial means to repay the loan.

VA loan 75

VA loan FHA loan Loans Closing costs 75

Norada Real Estate

JUNE 22, 2022

These loans tend to allow a lower down payment and credit score when compared to conventional loans. FHA loans are government-insured loans and VA loans are offered by VA-approved lenders. For example, Bank of America is both FHA and VA-approved lender. Wentworth Company.

Finance 96

Finance FHA loan Investor Loans 96

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?

Loans 98

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

Realtor.com

JANUARY 10, 2022

.” One example is the mortgage program run by the Federal Housing Administration (FHA). While a conventional mortgage requires a 20% down payment, an FHA loan requires only 3.5%. Co-signing or getting a loan is a great option, says David Aylor , the founder and CEO of David Aylor Law Offices in Charleston, S.C.

Mortgages 114

Mortgages VA loan FHA loan Fixed-rate mortgage 114

Realty Biz

JANUARY 3, 2023

“It's important to consider the annual percentage rate (APR), which includes not only the interest rate but also any fees or charges associated with the loan. This can give a more accurate picture of the true cost of borrowing and help borrowers compare the costs of different loans. Military and their families.

Mortgages 96

Mortgages VA loan Loans FHA loan 96