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NRMLA, MBA provide comments on HECM application, origination documents

Housing Wire

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). We applaud HUD’s efforts in trying to change the requirements for HECMs to be more in line with the requirements of the forward mortgage industry.

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Opportunities to improve the home-building process

Housing Wire

While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. Construction has traditionally been slow to pick up new technology compared to other industries.

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5 ways to provide overwhelming value to buyer clients

Housing Wire

Offer them solutions to get a better-than-average mortgage rate. You don’t have to know as much as your competent mortgage lender does, but you should be able to competently discuss options, such as rate buy-downs, adjustable-rate mortgages and how to pay points to lock in a lower rate on a 30-year fixed mortgage.

Clients 362
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The Differences Between an Appraisal and a Home Inspection

Hank Miller Team

There are significant differences between an appraisal and a home inspection, it’s best for every home buyer to become familiar with the purpose of each. In most cases, if a home buyer is getting a mortgage, an appraisal will be completed. What is a Home Inspection? They do not represent either buyer or seller.

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Opinion: Investors play key role in providing affordable housing options

Housing Wire

Selling a home typically involves nearly 10% in transaction fees between real estate agents , title companies, inspections, and other expenses. Instead, we prefer a “certified” pre-owned car that has gone through a multi-point inspection with all of the preventative maintenance up to date. Here’s one data point for you.

Investors 387
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How to Finance a New Construction

Assurance Financial

Buying new construction is slightly different from buying an existing home in another way. The rules for loans and financing for new home construction aren’t exactly the same as they are for buying homes that already stand. FAQs About Home Construction Loans. Curious about the process of getting a construction loan?

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Our 19-point house-hunting checklist for real estate agents & their clients

Housing Wire

Before meeting with a mortgage lender, buyers should have a clear picture of their finances. Do not skip the inspection. Never advise a buyer to skip their inspection, even if it means they lose to a cash buyer. Even new construction properties have flaws, and buyers need a complete picture of the property they’re buying.