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Treasury’s new housing plan includes redirected COVID-19 funds to boost affordable supply

Housing Wire

Department of the Treasury on Tuesday announced a series of new initiatives designed to increase the supply of affordable housing across the country. The third provision is an extension of the support from the Federal Financing Bank (FFB) for “a risk-sharing initiative between the U.S. There are three core provisions of the plan.

Insurance 449
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Opinion: Reformed FHA program will offer lenders new business opportunities

Housing Wire

Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications.

Business 426
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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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CPI rose 3.2% in July, but shelter inflation will continue to decelerate

Housing Wire

Indices that increased in June include shelter, motor vehicle insurance, education, and recreation. To Bright MLS Chief Economist Dr. Lisa Sturtevant, these changes are not the result of the Fed’s action but rather the consequence of more new residential construction coming on the market. month-over-month, similar to June.

Design 337
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How Remaining Economic Life Works

Cleveland Appraisal Blog

They all have done their studies and have provided their analysis of what their data reflects the total economic life of a home to be based upon its quality of construction. All Mortgages to be insured under Section 223(e) must be submitted to the Jurisdictional HOC for prior approval.” These are just a few.

Appraisal 365
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5 Rules for Appraising Barndominiums

McKissock

Bottom line: If the home is going to be financed by a lender, insured by FHA, or sold on the secondary market, you must make sure you compile a fair, thorough report to ensure that the lender doesn’t take a loss. These appraisals take more time and effort, therefore you should charge more for them. Dig deep for comparables.

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Appraisals 101: What to Expect From the Home Appraisal Process

Raleigh Realty

In fact, if you have liquid funds, and thus aren't financing your home purchase through a lender, you don't need to have the home appraised. Of course, even if you aren't using a traditional lender for financing, an appraisal isn't a bad idea. Does a Newly Constructed Home Need an Appraisal? Why would you?