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What are the potential home equity and tax strategies for wealthy seniors?

Housing Wire

It depends on an individual’s tax bracket and their priorities, but there are several options for higher-net-worth individuals,” Resch said. Steve Resch, vice president of retirement strategies at industry-leading lender Finance of America Reverse (FAR), told Financial Advisor that the utility can vary when it comes to tax savings. “It

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NAF rebrands initiative designed to boost Black homeownership

Housing Wire

Across all income ranges — including those above $100,000 per year — homeownership rates were lower for Black households when compared with white households, reducing the likelihood of even a higher income bracket having a pronounced impact on the odds of homeownership.

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The Loan Officer’s Guide to Appraisals Part 5:  What is bracketing and why do we do it?

Riverfront Appraisals

The post The Loan Officer’s Guide to Appraisals Part 5: What is bracketing and why do we do it? So far in our series, we’ve looked at final inspections, lending on unique homes, communication with the appraiser, and reconsiderations of value. So if this is […]. appeared first on Riverfront Appraisals.

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Like U.S. population, the workforce is aging faster

Housing Wire

Similar increases among women between the ages of 55 to 59 and 70 to 74 were also observed at that time, but they decreased for women in the 60-64 bracket in 2023. Key findings of the full report include that the labor force participation rates of men ages 60 to 64 increased in 2022 and 2023 while falling among those ages 75 and older.

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HMDA: The top 10 FHA lenders by volume in 2021

Housing Wire

Millennials made up 57% of applicants for FHA loans in 2021, with borrowers in the age bracket of 25 to 34 making up 28.1% Applicants in the 55 to 64 age bracket made up a mere 10.1%, HMDAVision shows. loanDepot had an average interest rate of 3.23% for FHA loans and Nationstar Mortgage had average interest rates of 3.22%.

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The worst for mortgages may be over, but younger borrowers still face affordability challenges

Housing Wire

In response, borrowers in younger age brackets lost traction in Q4 2023, edged out of the market by lack of affordability,” the report stated. “If The average monthly income of homebuyers jumped nearly 30% over the past three years, with December 2023 marking a record-high of $12,100.

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Market Madness: 8 Housing Markets We’d Place Big Bets on in 2024

BiggerPockets

It’s March Madness season, so we thought we’d create a bracket of our own, pitting some of the best real estate markets against each other to see which one will […]