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VA removes pre-approval process for some loans?

Housing Wire

The Department of Veterans Affairs last week announced it is streamlining the loan approval process for borrowers with a VA-appointed fiduciary and for veteran borrowers who apply for a joint loan. Loan closings could not proceed until the VA issued its approval, which resulted in a drawn-out process. appeared first on HousingWire.

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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

The deal, which has been approved by the boards of directors of both Rocket Companies and Redfin, is expected to close in the second or third quarter of 2025. Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 billion in equity.

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The First Step: Getting Pre-Approved for a Mortgage [INFOGRAPHIC]

Keeping Current Matters

If you’re looking to buy a home in 2024, getting pre-approved is a key piece of the puzzle. Mortgage pre-approval means a lender checks your finances and decides how much you’re qualified to borrow.

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22 U.S. metros where buying a home is cheaper than renting

Housing Wire

s largest metros, a monthly mortgage payment is less expensive than the average rent. In Chicago , the typical rent payment is $2,074 per month, but a monthly mortgage payment is $1,640 – a savings of nearly $434 a month by owning rather than renting. In some of the U.S.’s In Pittsburgh , the savings are about $321 a month.

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To boost Black homeownership, the U.S. must navigate a ‘troubling environment’

Housing Wire

The past two years have been tough, but even before 2021, Black homeownership was either falling or stagnant and remains far from its pre-2004 high of nearly 50%.” Lower-income Black and white mortgage applicants were also found to be paying higher interest rates in general than those of greater means, the report said.

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The Power of Mortgage Pre-Approval [INFOGRAPHIC]

Keeping Current Matters

Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. In today’s market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home.

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Washington, D.C. moves to bolster reverse mortgage foreclosure protections

Housing Wire

is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure. council enacted the Fairness and Stability in Housing Amendment Act of 2024 , which amends specific housing agency laws to allow for protections for older district residents with a reverse mortgage loan.

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