Housing Wire

NOVEMBER 16, 2022

The Pontiac, Michigan-based lender now has an option for borrowers to reduce their rates by 3% during the first year of the loan, compared to the maximum 2% previously offered. UWM is also launching a lender-paid version as an alternative to the sellers-paid product, the company announced on Wednesday. primary home purchases.

Seller concession 397

Seller concession Mortgages Fixed-rate mortgage Loans 397

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Especially when the seller is willing to give concessions, the buyer is able to get a credit for closing and contribute to buying down points. With rates around 6.9%

Loan Officer 397

Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

NOVEMBER 7, 2023

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 loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. points from the 7.5%

VA loan 482

VA loan Agents Seller concession FHA loan 482

Housing Wire

APRIL 15, 2024

Department of Veterans Affairs seeking similar guidance on VA loans, but Sears said that letter remains unanswered. CHLA appreciates Fannie Mae’s clarification today that seller payment of buyer realtor commissions will not be counted towards seller concession caps,” a spokesperson wrote in an email.

Agents 532

Agents Seller concession VA loan Finance 532

Housing Wire

NOVEMBER 20, 2023

An originator can usually get a buyer into that home for less than $20,000 through a mixture of seller concessions and strategic financing. No matter what it looks like, buyer agents will be working for less and this is where trailing risk for loan officers comes in. But loan officers now have a new value add for listing agents.

Pre-approval 481

Pre-approval Agents Loan Officer Seller concession 481

Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. In this situation, your lender approves your loan amount without much hassle. When this happens, your lender will only loan you up to the appraised value.

Earnest money deposit 482

Earnest money deposit Seller concession Loans Lending 482

Housing Wire

AUGUST 24, 2022

UWM’s products announced Wednesday are available on primary and second home loans, with loans up to $350,000, according to the company’s website. Meanwhile, the piggyback HELOC, which provides an additional loan taken out on property alongside a first mortgage, is ideal for borrowers with less available for a down payment.

Seller concession 397

Seller concession Equity Loans Mortgages 397

Realty Biz

JUNE 22, 2021

What to Know About a Seller Concession. Many terms get bantered around in real estate that either a buyer or seller may not know the meaning of. One such term is seller’s concessions. It is not uncommon at all for a client to ask what are seller concessions. What is a seller concession?

Seller concession 128

Seller concession Closing costs Purchase and sale agreement Closing 128

Housing Wire

OCTOBER 21, 2022

About 2% of monitored contacts, whose loan closed less than 6 months ago, shopped with a competitor that day, an 11% decline from the previous quarter. The overall ARM loan share rose to 12.8% Rocket launched a similar product in September. Rates for 5/1 ARMs ticked up to 5.65% last week from the prior week’s 5.56%.

Seller concession 370

Seller concession Mortgages Loans Finance 370

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

APRIL 8, 2024

to 2,058 loans in March, an increase helped by new case numbers and slightly telegraphed by recent industry sentiments, according to data compiled by Reverse Market Insight (RMI). In terms of the tracked regions, the Northwest/Alaska region led the way in terms of biggest relative improvement, rising 23% to 166 loans.

Mortgages 457

Mortgages Seller concession Loans Equity 457

Housing Wire

NOVEMBER 16, 2022

Many lenders are offering temporary buydowns on government sponsored enterprise/Ginnie Mae loans, but the non-agency homebuyer has fewer options,” Bob Johnson, chief operating officer at NewRez, said in an email. “By

Seller concession 397

Seller concession Mortgages Lending Loans 397

Housing Wire

AUGUST 25, 2022

That has contributed to UWM’s competitors taking losses on loans when they can least afford it. During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans.

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

MARCH 6, 2024

Despite feelings of optimism expressed by loan originators in the opening weeks of 2024, the road to more normalized levels of reverse mortgage volume and securities issuances may be longer than expected. They also shared the progress they have made in building up loan pipelines, especially compared to the end of last year.

Mortgages 463

Mortgages Seller concession Principal Loans 463

Housing Wire

JULY 4, 2024

It may mean drilling down and familiarizing yourself, and your potential clients, with the ins and outs of credit repair, loan pre-qualification and pre-approval, and even basic personal finance and budgeting. This is not about selling a fantasy but about highlighting realistic paths to achieving this goal, even if the process has changed.

Pre-qualification 476

Pre-qualification Pre-approval Seller concession Finance 476

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers.

Marketing 493

Marketing Loan Officer Loans Seller concession 493

Housing Wire

FEBRUARY 2, 2024

HECM volume, inbound inquiries HECM endorsements fell on a per-unit basis by 1.7%, according to RMI , to 2,153 loans for the month of January. Among the top 10 lenders that posted gains, the biggest performer was Goodlife Home Loans , which recorded a 27% gain to 47 loans, followed by Fairway Independent Mortgage Corp. (up

Mortgages 434

Mortgages Seller concession Loans Finance 434

Housing Wire

APRIL 12, 2023

of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. None of the surveyed mortgage professionals said staff cuts caused decreased ability to close loans and lack of training were the challenges they faced. a loan officer in Washington noted.

Mortgages 414

Mortgages Loan Officer Marketing Seller concession 414

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. With the buydown, the borrower pays a lower rate during the first year or two and, after that, the full rate is paid for the remainder of the loan term.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

Housing Wire

OCTOBER 16, 2023

Editor’s note: There are conventional mortgage options with down payments as low as 3% and government-insured loans with a low- or no-down-payment requirement.) Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs.

Agents 435

Agents Seller concession Closing costs Mortgages 435

Real Trends

APRIL 11, 2023

To think outside the box, some Realtors began using seller concessions. Whereas seller concessions make the home-buying process more affordable and exciting for potential buyers, while also maintaining the home and the community’s value. In some areas of the U.S., So, what do you do?

Seller concession 76

Seller concession Closing costs Purchase and sale agreement Inspection contingency 76

Housing Wire

JUNE 25, 2024

Lenders need reassurance that they’re loaning the appropriate amount for the property, and an appraisal provides precisely this. In other cases, you may be representing a buyer negotiating with a seller who refuses to lower the price even after the appraisal comes in lower than expected.

Staging 396

Staging Seller concession Finance Closing costs 396

Redfin

FEBRUARY 18, 2025

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. FHA loans An FHA loan is a mortgage loan that’s insured by the Federal Housing Administration (FHA).

Closing costs 52

Closing costs Closing VA loan Seller concession 52

Redfin

FEBRUARY 20, 2025

On average, sellers typically pay between 6% and 10% of the homes sale price in total closing costs. This percentage includes real estate agent commissions, title insurance, escrow fees, and potential seller concessions. Heres a general estimate of different seller closing costs: Expense Typical Cost Who Pays?

Closing costs 56

Closing costs Closing Seller concession Title 56

Housing Wire

AUGUST 30, 2024

We need to focus on those agents that have invested in learning about loan programs, community programs and other resources specific to the customers they serve, whether that is investors, veterans, first time homebuyers, move-up buyers, downsizing sellers or luxury.

Branding 435

Branding Agents Technology Seller concession 435

Housing Wire

JANUARY 13, 2023

Kim: So would you say it’s a seller’s market right now? I ask because we’re seeing a lot of seller concessions, such as temporary rate buydowns offered to buyers. . I would almost classify it as a seller’s market, because sure, they might not have 20 people who want to buy that home like they did 18 months ago.

Pre-approval 418

Pre-approval Marketing Seller concession Mortgages 418

RIS Media

FEBRUARY 29, 2024

In real estate transactions, buyers and sellers often negotiate various aspects of the deal. One element that frequently arises during these negotiations is referred to as seller concessions or repair credits. Negotiations can include the purchase price, closing costs and contingencies.

Seller concession 130

Seller concession Closing costs Closing As-is 130

Real Trends

NOVEMBER 2, 2022

As mortgage rates hit 7% and above, loan officers are seeing new borrowers increasingly interested in options that can help reduce their initial mortgage payments. Temporary rate buydowns are not new, but many loan officers may not be familiar with the option. So what is a 2/1 rate buydown? How does a 2/1 rate buydown work?

Seller concession 109

Seller concession Loan Officer Closing costs Mortgages 109

HomeLight

FEBRUARY 16, 2024

Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer. It not only demonstrates to sellers that you’re financially prepared but also accelerates the purchase process once you’ve found the perfect home. Get Started 1.

Pre-qualification 115

Pre-qualification Seller concession Pre-approval Closing costs 115

Maximum Exposure Real Estate

SEPTEMBER 25, 2023

A seller assist, also known as a seller concession or seller credit, is a feature of loan programs that allows the seller to help the buyer by covering a portion or the entire closing costs. This option is desirable for buyers with limited cash and sellers facing challenges selling their properties.

Seller concession 98

Seller concession Closing costs Loans Closing 98

HomeLight

JUNE 16, 2022

You can probably expect to run into these common expenses for home sellers in California: Prepping your house for sale. Seller concessions. Seller concessions. Seller concessions might be a cost to sell a house in California. You may not have to make concessions to make the sale. Realtor® fees.

Seller concession 109

Seller concession Closing costs Inspection Agents 109

HomeLight

DECEMBER 2, 2021

One item of note: We don’t include your mortgage loan payoff in our cost estimate, so keep in mind that you have to pay off any outstanding home loan balances when you sell. Sample seller expenses for a $453,300 house. Cost to seller. Seller concessions. Seller concession. Major home repairs.

Seller concession 122

Seller concession Staging Inspection Renovation 122

HomeLight

JUNE 14, 2022

You can probably expect to run into these common expenses for home sellers in Chicago: Prepping your house for sale. Seller concessions. Seller concessions. Seller concessions are another cost to sell a house in Chicago. You might not have to make concessions to make the sale. Closing costs.

Seller concession 110

Seller concession Purchase and sale agreement Closing costs Title 110

HomeLight

JUNE 14, 2022

Seller concessions. Seller concessions can contribute to the overall cost to sell a house in Seattle. These indirect costs may include seller concessions and buyer incentives. Although sellers don’t have to make concessions to make the sale, maybe you want to make your house stand out from the rest?

Seller concession 119

Seller concession Closing costs Agents Closing 119

HomeLight

NOVEMBER 1, 2021

To explore the potential drawbacks of paying for buyer closing costs as the seller, we spoke with Tara Limbird , an Arkansas-based agent who heads a team of real estate pros that was nationally ranked at the top one half of 1% of Realtors®. Buyers and sellers generally pay for their own closing costs — but everything’s negotiable.

Closing costs 97

Closing costs Closing Seller concession Purchase and sale agreement 97

HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Kauffman confirms that seller credits are an important building block of the negotiation process.

Closing 105

Closing Seller concession Sales Closing costs 105

HomeLight

MAY 31, 2022

Answering this question requires more than subtracting your remaining mortgage loan balance from the sales price. Net proceeds represent the final amount of money a seller receives from selling a home after expenses such as commission, repairs, inspection costs, transfer fees, mortgage balance payoff, and other assorted fees are subtracted.

Seller concession 124

Seller concession Closing costs Staging Sales 124