Housing Wire

JULY 20, 2022

Specifically, there is a high cost in constructing accessory dwelling units – or ADUs – which are secondary residences on a land parcel zoned for single-family housing. The Joe Biden administration broadly identified this financing issue. The problem then, the authors found, is ascertaining favorable financing.

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Housing Wire

FEBRUARY 28, 2024

Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs. It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S.

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Housing Wire

OCTOBER 18, 2023

However, permits for future construction recorded a 4.4% “Slower construction activity in the Northeast could reflect cooler demand as well as challenges builders face in finding availability lots,” she said. Could multifamily construction stall? Department of Housing and Urban Development and U.S. They were 23.3%

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Housing Wire

APRIL 13, 2023

The proposal is designed to offer additional flexibility for calculating market rent and using ADU rental income to help qualify for FHA-insured mortgage financing. “If On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022. The popularity of ADUs has increased in recent years.

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Housing Wire

OCTOBER 5, 2021

Finance of America Mortgage (FAM), the multichannel lender, announced today that it is offering a refi product for homeowners with accessory dwelling units (ADUs). Most homeowners finance ADUs through home equity loans, cash-out refinancings and construction/renovation loans.

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Housing Wire

SEPTEMBER 5, 2023

It uses county-level data for single and multi-family permits to gauge housing construction growth in both urban and rural metros. The latest HBGI data continue to show a changing geography for home construction,” Robert Dietz , the NAHB’s chief economist, said in a statement. at the end of 2019 to 12% earlier in 2023.

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Housing Wire

APRIL 1, 2024

In addition to that, conventional underwriting does not serve the new-age economy such as gig workers, so you are seeing this demand for alternative financing. “And Potential partnerships Home equity investments are likely to become essential to the home finance product marketplace. And that has already started to happen,” Craft said.

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Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release. But some experts believe that financing options for ADUs need to be expanded.

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Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Mortgage applications for new home purchases increased 20.6% in August on a year-over-year basis. Compared to July 2023, applications increased by 4%. This change does not include any adjustment for typical seasonal patterns.

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Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. When Finance of America announced their closure, we started searching around,” Reich said. ” . “We We specialize in marketing for purchases.”.

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Eyes on Housing

SEPTEMBER 6, 2023

NAHB analysis of the 2022 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.1% As in previous years, conventional financing dominated the market at 71.9% In 2020, the share of non-conventional financing was 34.4%.

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Housing Wire

APRIL 23, 2024

“This rule strengthens standards by increasing elevations and flood proofing requirements of properties in areas at risk of flooding, where federal funds are used to develop or provide financing for new construction within the now defined FFRMS floodplain,” HUD explained. “It

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Eyes on Housing

AUGUST 26, 2022

NAHB analysis of the 2021 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.8% of the market, while conventional financing dominated the market at 71.2%. In 2020, share of non-conventional financing was 34.4%

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Housing Wire

APRIL 8, 2024

It now faces a wave of mortgage maturities and payoffs on the thousands of affordable-housing complexes it has helped to finance over the years — with no new construction carried out under the program since 2012. I think in a healthy housing market, you have to have both new construction and preservation efforts,” Maxwell said. “We

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Housing Wire

MAY 16, 2024

A study released Thursday by fintech and personal finance website SmartAsset delved into Zillow data on new home sales. A key conclusion is that while new construction creates additional supply for first-time and move-up buyers alike, it comes with an additional expense. was $335,170, compared to $414,990 for new construction homes.”

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Appraisal Buzz

MAY 19, 2021

While a lack of existing homes for sale is heightening the demand for new homes, supply constraints – most notably lumber – and a dearth of buildable lots, as well as hiring difficulties, are limiting homebuilders’ pace of single-family construction, which.

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Housing Wire

AUGUST 16, 2023

Under the new regulations, construction of new residential buildings can continue in areas that have a designated water provider since homebuilders and developers do not need an AWS certificate to obtain a building permit.

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.

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Appraisal Buzz

OCTOBER 19, 2021

Thompson, acting director of the Federal Housing Finance Agency (FHFA) announced the change in her keynote address to the Mortgage Bankers Associations annual conference on Monday. The post Construction Numbers Moderate; FHFA Announces Changes to Low Income Refi Programs and Appraisal Requirements appeared first on Appraisal Buzz.

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Eyes on Housing

MAY 26, 2023

While mortgage rates were stabilizing in the first quarter of 2023, rates on loans for Acquisition, Development & Construction (AD&C) continued to climb, according to NAHB’s quarterly Survey on AD&C Financing.

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Housing Wire

MARCH 5, 2024

They include the reallocation of funds originally earmarked for relief from the economic impacts of the COVID-19 pandemic for affordable housing construction, as well as new provisions for the 2021 American Rescue Plan (ARP) Emergency Rental Assistance (ERA) program to clarify the use of such funds for affordable housing.

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Housing Wire

JANUARY 3, 2024

About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. However, the occupancy rate will remain above 94%, according to CBRE’s U.S. Real Estate Market Outlook 2024. and Las Vegas.

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Boston Appraisal

OCTOBER 6, 2023

While there is a myriad of financing options available for those looking to purchase or invest in real estate, today we’ll zero in on two distinct choices: hard money loans and traditional financing. Hard money loans, in contrast, are often financed by private investors or smaller lending companies.

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Housing Wire

MARCH 12, 2024

And housing construction never fully recovered after that.” Combined with the millennial generation aging into the housing market and causing an unsustainable surge in demand, “construction over that decade skewed to higher value units rather than the starter homes needed for first-time homebuyers and workforce housing,” she said.

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Housing Wire

JANUARY 19, 2024

The proposal would increase the Low-Income Housing Tax Credit, which housing groups say could help spur the construction of more affordable housing this year. and Senate Finance Committee Chairman Sen. Senate unveiled the “ Tax Relief for American Families and Workers Act of 2024.” Jason Smith (R-Miss.) Ron Wyden (D-Ore.)

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Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% As more first-time homebuyers are turning to new construction, builders offer smaller, more-affordable homes as well as incentives like interest rate buydowns to tempt buyers off of the fence. Over the past year, the value of the U.S.

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Housing Wire

JUNE 6, 2023

Cleveland – Demand for residential construction and real estate has stabilized in this District, and contacts attribute this stabilization to the arrival of spring and flattening interest rates. Chicago – Residential construction activity has been down modestly in this District.

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Housing Wire

MAY 14, 2024

Department of Agriculture (USDA) in which they explain their new energy-efficiency standards for the construction of new single-family and multifamily homes. But Rubio did not mention other programs announced by HUD designed to encourage the construction of additional supply, including $5.5

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Eyes on Housing

MAY 31, 2021

Builders and developers responding to NAHB’s Survey on Acquisition, Development & Construction (AD&C) Financing continued to report declining interest rates in the first quarter of 2021.

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Housing Wire

MARCH 27, 2023

The ongoing banking instability may affect the availability of jumbo mortgages and residential construction loans due to the high concentration of those originations stemming from small and mid-sized banks, Fannie Mae’s Economic and Strategic Research (ESR) Group said. While single-family housing starts rose 1.1%

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Housing Wire

APRIL 4, 2024

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

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Housing Wire

NOVEMBER 28, 2023

“The increases to FHA’s loan limits will enable homebuyers to use FHA’s low-down-payment financing to access homeownership at a time when a lack of affordability threatens to shut well-qualified borrowers out of the market.” Virgin Islands account for higher construction costs. There are some exceptions.

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Mortgagebroker News

MARCH 27, 2024

Canada Infrastructure Bank unveils financing program to spur construction

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Housing Wire

MAY 10, 2024

billion in fix-and-flip and bridge loans in the first four months of 2024, a 40% increase over the same period in 2023, and it recently expanded into construction financing. The lender also reported that it originated $1.66

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Housing Wire

MARCH 25, 2024

Additionally, mortgage applications for new homes surged in February as a lack of existing homes for sale continued to fuel the demand for new construction. At the end of January, there were 463,000 new homes available for sale, as new construction continues to account for an outsized share of the housing inventory. from a year ago.

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Housing Wire

JANUARY 16, 2024

Anchor Loans’ TPO channel will provide residential business purpose loan products – including bridge , fix and flip, ground-up construction and rental investor loans with debt service coverage ratio (DSCR), the firm said in a release. Tim Landwehr, co-chief revenue officer, led the launch of the TPO channel. “We

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Housing Wire

APRIL 29, 2024

A coalition of energy- and consumer-focused trade groups lauded the release of new energy-efficiency standards for the construction of new single-family and multifamily homes, which were announced last week by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA).

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