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Finance of America now offers renovation loans

Housing Wire

announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% billion in renovation loans — compared to $51.6

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Busting VA mortgage loan myths

Housing Wire

The great news is that the program has undergone significant improvements, particularly after the Blue Water Navy Vietnam Veterans Act was signed into law in 2019. My favorite, and one of the most valuable and underutilized products in today’s low-inventory market , is the VA renovation loan. Who is eligible?

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How PrimeLending plans to grab market share

Housing Wire

The target client base for PrimeLending is first-time homebuyers, as the entire industry is struggling to overcome the lock-in effect. PrimeLending, led by president and CEO Steve Thompson, ranked as the 34th largest mortgage lender in the first quarter of 2023, with an estimated origination volume of $1.73 billion, a 54% decline from $3.76

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Compass’s title firm runs into trouble in Washington

Housing Wire

The Insurance Commissioner for the state of Washington apparently concluded that Modus offered real estate agents and their clients a “thing of value,” such as free home warranties, other closing-related services, in exchange for switching their escrow and title services to Modus. In all, Compass has lost $1.1 billion as of Dec.

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Institutional SFR players are stuck in the doldrums

Housing Wire

The lawsuit claims further that the company “ignored permitting laws to avoid fees and increased taxes as well as to get renovated homes on the rental market as soon as possible.” Invitation Homes (IH) spent about $25,000 on renovations per home for its California SFR portfolio, pleadings in the lawsuit state.

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Rocket gets into home equity game, joining rival nonbanks

Housing Wire

“With our new home equity loan, clients can improve their lives by having a payment they can more comfortably afford.” trillion higher than at the end of 2019. ” U.S. ” U.S. The country’s total household debt stood at $15.8 trillion as of the first quarter of this year, which is $1.7

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Download these 9 real estate prospecting letter templates that actually work

Housing Wire

I can also provide expert advice about renovations and the potential return on investment — where to get the biggest bang for your buck — or simply answer any questions you have about the market. Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell.