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Opinion: More financing options for ADUs are needed

Housing Wire

For homeowners, ADUs can generate substantial rental income that assists homeowners in covering escalating property taxes and mortgage payments. Heading into 2024, there are continuing and emerging financing options, grant programs and legislation all designed to help homeowners and builders create much-needed infill housing.

Finance 449
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FHA drafts guidance to expand financing on homes with ADUs

Housing Wire

The proposal is designed to offer additional flexibility for calculating market rent and using ADU rental income to help qualify for FHA-insured mortgage financing. “If The related financial obligations for HECM loans include property taxes, homeowner’s insurance and homeowner’s association fees, if applicable.

Finance 375
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Foreclosures are rising, but it’s not yet alarming

Housing Wire

The impact of tax and insurance liabilities There are some growing concerns stemming from inflation and the rising costs of property taxes and insurance premiums, which may be problematic for some households, particularly older Americans with fixed incomes. With home values across the U.S. With home values across the U.S.

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How to Appeal Your Property Taxes in King County

Will Springer Realtor

The state requires that county assessors inspect every property at least every six years to maintain accurate information about the parcel and structures. Local governments are limited to a 1% annual increase in property tax revenue regardless of changes in property values – but there is a catch. overall increase.

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Desktop appraisal option to start in March

Housing Wire

The option is not available for second homes, investment properties, cash-out refinances, construction loans, multi-unit properties, renovation loans, condos, co-ops or manufactured homes.

Appraisal 414
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Mortgage rates inch closer to 7%

Housing Wire

For buyers of a median-priced home, the monthly mortgage payment—assuming a 20% down payment—amounts to about $2,300, not including property taxes and insurance,“ said Ratiu. The cost of financing a median-priced U.S. home, assuming a 20% downpayment, rose 12.4% Year-over-year, sales dropped 18.9% million in June 2022.

Mortgage 323
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How to grow housing supply in 2021

Housing Wire

months, builders will halt the rate of growth for new construction plans as they did in 2018 and again for a brief period this year. months, the builders are ok with construction as long as new home sales grow. For this to work, we would need to prevent NIMBY lawsuits from delaying construction projects. If supply goes over 6.5

Inventory 545