Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Tools 351

Tools Mortgage Finance Lending 351

Housing Wire

DECEMBER 14, 2023

In an update to its selling guide , Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance. Fannie Mae first announced that it would accept loans secured with an AOL in lieu of title insurance in limited circumstance in April 2022.

Insurance 333

Insurance Finance Renovations Government 333

Housing Wire

JULY 14, 2022

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. Another area of focus for the administration is improving its financing for manufactured housing.

Renovations 310

Renovations Finance Insurance Transportation 310

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

Renovations 291

Renovations Finance Inspection Buyers 291

Housing Wire

AUGUST 10, 2023

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. of all properties available for the first-look auctions during the quarter.

Renovations 329

Renovations Buyers Development Insurance 329

Housing Wire

MAY 8, 2023

Once the transfer of ownership occurs at foreclosure auction, a distressed property can be renovated and returned to the retail market as affordable housing for homeowners or renters. “[I My renovated homes are] reducing the number of rental properties , which in our town has become a source of demise.”

Inventory 371

Inventory Renovations Supply Chain Buyers 371

Housing Wire

NOVEMBER 30, 2023

The 203(k) Rehabilitation Mortgage Insurance Program helps borrowers purchase a home or refinance an existing mortgage and includes the cost of repairs or rehabilitation into one new mortgage. In high-cost areas, however, it can go up to $75,000.

Architecture 406

Architecture Renovations Inspection Finance 406

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. The program is separate from the broader VA loan program that is available to all veterans.

Mortgage 359

Mortgage Renovations Insurance Construction 359

Housing Wire

MARCH 20, 2024

You’re investing more in building and renovating an affordable home than almost any other […] state in the country. He said this would serve to have the effect of lowering their mortgage rate by roughly 1.5%. Hundreds of first-time homebuyers [were] able to make a down payment. A record 1.7

Realtors 396

Realtors Insurance Construction Landlords 396

Housing Wire

OCTOBER 16, 2023

New initiatives include allowing homebuyers to leverage income from accessory dwelling units (ADUs), expanding mortgage lending for U.S. HUD will also continue to work on updates for its 203(k) Rehabilitation Mortgage Insurance Program. million homeowners with purchase mortgages, and 83.6 The new policies will allow U.S.

Design 450

Design Insurance Construction Development 450

Housing Wire

JANUARY 5, 2024

Lower interest rates make mortgages more accessible, paving the way for more buyers into the market and potentially resulting in increased demand and higher prices. Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices.

Real Estate 422

Real Estate Agents Marketing Sellers 422

Housing Wire

JULY 14, 2022

This narrative was once again repeated in the HousingWire article announcing the FHA first-look program: “Typically, FHA-insured foreclosed properties are snatched up by large investors and turned into rental properties.”. The role of renovators. Most of these reverted REOs are eventually sold via the Multiple Listing Service (MLS).

Renovations 325

Renovations Investors Buyers Retail 325

D Fritz Appraisals

MAY 21, 2021

The Mortgage Stress Test will be increasing as of June 1, 2021. Under the new requirements set by the Office of the Superintendent of Financial Institutions (OSFI), uninsured mortgages will increase to a qualifying benchmark rate of 5.25%. The Mortgage Stress Test Rollercoaster. Why is the Mortgage Stress Test Increasing?

Mortgage 133

Mortgage Real Estate Insurance Renovations 133

Housing Wire

FEBRUARY 16, 2022

Examine previous transactions with a lender, such as funding renovations on investment property, to better understand the lender’s experience with diverse real estate projects. Even if a mortgage broker or conventional lender is unable to fund the transaction, they might be able to refer. Escrow officers and title agents.

Real Estate 382

Real Estate Investing Investors Renovations 382

Housing Wire

JULY 25, 2023

Homeowners and renters may not have felt the full impact of climate-related disasters since, oftentimes, they do not end up directly paying for renovations or repairs necessitated by an adverse climate event, Fairweather said. Recently, prominent insurance companies have exited some of these areas.

Housing Market 298

Housing Market Insurance Marketing Renovations 298

Housing Wire

JUNE 21, 2022

Most financing to acquire a home in need of updating or repair is short-term and relatively expensive. That way the homebuyer can get a straightforward, relatively inexpensive 30-year mortgage to finance their purchase. The same holds true for the investors that are renovating homes and reselling them.

Investors 388

Investors Renovations Inspection Government 388

Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. WRRE also will help them buy, finance and insure their next home purchase, with mortgage closing times in as few as eight days, considerably faster than the industry average.

Brokerage 400

Brokerage Real Estate Clients Insurance 400

Cleveland Appraisal Blog

AUGUST 25, 2022

You’ve just purchased your first property to renovate. Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree. You may also have to prove that you have enough income to cover the mortgage on all properties that you own. Let the Renovations Begin!

Investing 332

Investing Renovations Landlords Real Estate 332

Assurance Financial

NOVEMBER 9, 2021

Before signing the final papers, there are many factors to consider and scenarios to prepare for to secure your home financing solution. In some cases, you may have to take out several loans or pay for something called private mortgage insurance (PMI). PMI is an additional payment on top of your standard monthly mortgage.

Insurance 41

Insurance Mortgage Home Value Finance 41

Assurance Financial

JULY 20, 2023

Fortunately, 100% financing options are available for home loans that may allow you to purchase a home with no money down. If you are looking for a home loan with 100% financing, meaning a home loan that doesn’t require a down payment, we cover what you need to know. What Is a 100% Financing Home Loan?

Finance 36

Finance Government Design Insurance 36

Assurance Financial

NOVEMBER 28, 2023

Taking out your first mortgage is a huge life step. A mortgage is a critical tool to have — it allows you to become a homeowner without putting down hundreds of thousands of dollars on the spot, and it lets you pay off your loan over time. About 96% of first-time homebuyers finance the purchase with a mortgage.

Mortgage 69

Mortgage Property Taxes Insurance HOA 69

Housing Wire

MAY 12, 2021

While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. But, even then, today’s homebuyers aren’t spoiled for choice. Creating transparency.

Construction 450

Construction Logistics Technology Real Estate 450

Housing Wire

MARCH 26, 2024

The risky operating environment has been marked by volatile, high interest rates (with 30-year fixed rates now hovering around 7%), high financing costs and moderating rental rates as an influx of multifamily rental properties continues to come online across the country. In 2023, the landscape for home flipping across the U.S.

Investors 428

Investors Marketing Inventory Real Estate 428

Housing Wire

MAY 17, 2022

Gordon already possessed a vast knowledge of the workings of the Federal Housing Administration , a complex agency within HUD, and the government’s premier mortgage financing product serving first-time homebuyers and borrowers of color. “I Will Gordon cut mortgage premiums? President Joe Biden clearly agreed.

Insurance 312

Insurance Development Housing Market Mortgage 312

Realtor

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services. ” And did we mention that economists expect mortgage rates to rise? “The best time to buy is when it makes sense in your life.”

Mortgage 159

Mortgage Real Estate Agent Buyers Real Estate 159

Housing Wire

FEBRUARY 24, 2021

Consumers today expect access to instant information and don’t want to spend lots of time making calls to coordinate showings or filling out paperwork to get a mortgage. This has heightened the need for digital tools for marketing, viewing, financing and closing on home purchases.

Real Estate Agent 275

Real Estate Agent Real Estate Agents Loan Officers 275

Appraisal Buzz

SEPTEMBER 26, 2022

Improve Finances On All Sides. Another concern is defect litigation can increase the cost of insurance. Mortgage credit is tight, blocking out many potential new buyers. With less confidence, some homeowners turn to renovations on their current homes. Increase Financing for Current Homes.

Construction 195

Construction Supply Chain Buyers Retail 195

Assurance Financial

SEPTEMBER 28, 2021

The rules for loans and financing for new home construction aren’t exactly the same as they are for buying homes that already stand. Often, you’ll need to take out a construction loan first, which can convert to a mortgage once your home gets built. How Do You Get Financing for a New Construction?

Construction 36

Construction Finance Insurance Government 36

Realtor

FEBRUARY 11, 2021

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. Will you even qualify for a mortgage? Unless you have enough money in the bank to buy a house with cash, you’ll need a mortgage. How important is the freedom to renovate?

Property Taxes 218

Property Taxes Inspection Landlords Renovations 218

Eppraisal

OCTOBER 13, 2023

These may include property taxes, insurance, maintenance and repairs, property management fees, and any homeowner association (HOA) dues. This includes the down payment, closing costs, and any renovation or improvement expenses. Assessing Financing Options The way you finance an investment property can impact its profitability.

Investing 69

Investing Property Taxes HOA Real Estate 69

East Coast Appraisal

SEPTEMBER 12, 2022

Private mortgage insurance, or PMI, allows lenders to offer home loans to buyers without the traditional 20 percent down payment. This insurance covers the risk of financing a mortgage with less equity from the buyer. But for most homeowners, PMI mainly represents an extra fee on their monthly mortgage statement.

Appraisal 52

Appraisal Renovations Insurance Home Value 52

Assurance Financial

APRIL 18, 2022

After your purchase, you can renovate the property to make it suit your tastes and fit your needs. Depending on the extent and cost of your home improvement goals, you might need to take out a loan for renovations. A home renovation loan is most likely not going to be the same as your mortgage. Why Remodel Your Home?

Renovations 74

Renovations Construction Home Improvement Mortgage 74

Lamacchia Realty

SEPTEMBER 14, 2021

Sometimes it pays to refinance and renovate. FHA Rehabilitation Loans allow the homebuyer or homeowner to finance the purchase or refinance along with the renovation of a home through a single mortgage. Properties that are granted FHA Rehab Loans are typically not up-to-date and require renovation to modernize the home.

Renovations 71

Renovations Modernization Buyers Finance 71

Realtor

AUGUST 1, 2018

But in the middle of this process, someone asked us how much our mortgage insurance would be. “Mortgage insurance?” You’re on the hook for mortgage insurance for the life of the loan. Let’s get into the first thing you’ll have to factor in with an FHA loan: mortgage insurance.

Inspection 136

Inspection Insurance Buyers Renovations 136

Will Springer Realtor

OCTOBER 17, 2023

The funds are typically repaid when buyers eventually sell the home or when refinancing their mortgage. While their popularity is increasing, homebuyer assistance programs are still an afterthought for many who could have benefitted from this invaluable financing option. Read the fine print!)

Buyers 64

Buyers Government Finance Mortgage 64

Realtor

APRIL 14, 2021

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at HomeTown. ” And did we mention that economists expect mortgage rates to rise? Mortgage rates were at historic lows for months, but they’re beginning to edge higher.

Mortgage 78

Mortgage Real Estate Agent Buyers Real Estate 78

The Robert Weiler Company

JUNE 17, 2022

Better and Easier Financing Options. Plan your budget and understand your mortgage payments. The latter can be a lot cheaper but the amount of renovations required might end up costing you more in the long-run. Consider additional costs, such as insurance and mortgage. Pros and Cons of Buying Apartment Buildings.

Property Management 147

Property Management Renovations Real Estate Investing 147