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FHA drafts guidance to expand financing on homes with ADUs

Housing Wire

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU). On the West Coast , Seattle saw a 250% ADU construction increase from 2019 to 2022.

Finance 363
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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction. Once the transfer of ownership occurs at foreclosure auction, a distressed property can be renovated and returned to the retail market as affordable housing for homeowners or renters. “[I

Inventory 370
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Institutional SFR players are stuck in the doldrums

Housing Wire

Inviting an SFR lawsuit Invitation Homes earlier this year failed to convince a judge to dismiss a pending whistleblower lawsuit filed against the company in federal court in San Diego that alleges it made improvements at scores of properties in California without first securing required building permits.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

They are also used to assess the value of the home for home improvement loans and insurance evaluations. Read on for more information about how a home appraiser determines the value of your property. A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property.

Appraisal 105
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26 Reasons to Get an Appraisal

Realvals

By providing an unbiased estimate of a property’s value, an appraisal ensures that you know the real value of your property. Estate planning, property tax appeals, divorces, and gifting, are some of the many others. Estate Taxes In some cases, local laws may require appraisals for estate tax purposes.

Appraisal 145
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8 Reasons the Barndominium Is Gaining Popularity in North Texas – by Don Howe

DW Slater Company

Price is a major factor for any type of new home construction and barndominiums tend to provide the best value. Obtaining a construction loan for any type of new home often requires excellent credit and a suitable down payment. Barndominiums often feature post frame or steel frame construction. Lower Taxes and Insurance.

Design 133
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Does Refinancing Affect Your Taxes?

Assurance Financial

Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. These improvements may also reduce your liability for capital gains tax. Improve a Rental Property.