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How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

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When Should You Seek an Appraisal to Eliminate PMI?

East Coast Appraisal

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. Should a buyer fail to make payments later on, PMI helps the lender recover its losses.

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What Is Private Mortgage Insurance?

Assurance Financial

In some cases, you may have to take out several loans or pay for something called private mortgage insurance (PMI). Read on to learn more about how private mortgage insurance can allow you to purchase a home, even if you don’t have enough resources to make a standard down payment. What Is Mortgage Insurance on a Home Loan?

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FHA Loans – Credit Score Requirements and More

PennyMac

This is not true — the FHA does not issue loans directly to homebuyers. Instead, they insure loans offered by private lenders. If that happens, HUD will pay off the loan to the lender and take ownership of the home. Low-Income Buyers. Requirements for an FHA Loan. FHA Loans And Credit Score.

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The Pros and Cons of Buying a House

PennyMac

Buyer builds equity in the home. Property taxes and HOA fees are the buyer’s responsibility. Buyer has full control over home improvements and upgrades. Buyer has full control over home improvements and upgrades. Buyer incurs any maintenance and repair cost. Rental insurance is inexpensive.

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Do You Need 20% Down To Buy A Home?

PennyMac

The down payment amount can vary depending on the type of loan for which you’re applying. Fortunately, there are numerous ways to save, as well as down payment assistance programs and other funding sources for buyers. Let’s first see what the down payment amount is for the type of loan you’re looking at.

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The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

Many potential homebuyers and investors overlook bank-owned properties, but for buyers who take the time to understand the REO process, these homes can be a significant opportunity. Step 3: Find a Real Estate Buyer’s Agent Who Knows REO Homes. Step 4: Refine Your List of Lender-Owned Properties. Step 6: Make an Offer.