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How Reverse for Purchase can help baby boomer borrowers

Housing Wire

Longbridge Financial, LLC, (NMLS #957935) believes that the answer to this dilemma is the HECM/Reverse for Purchase financing option. Most real estate agents, builders and potential customers have no idea that this financing option exists to purchase homes,” he said.

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Mortgage industry takes another stand against the FHFA’s DTI fee

Housing Wire

In a blog post published Thursday, Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit made the case that the Federal Housing Finance Agency ‘s (FHFA) loan level price adjustments (LLPA) related to a mortgage borrower’s debt-to-income (DTI) ratio is unworkable and should be scrapped entirely.

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Top 5 mortgage terms to know before you buy a house

Housing Wire

They’ll need a small amount of information about your income and finances, and if all looks good, they’ll give you a preapproval letter stating how much money you can likely borrow. Most lenders require you to pay for home insurance and property taxes as part of your monthly payment. You’re not alone.

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Choosing the Right Lender

PennyMac

Purchasing a home is a big step, and you want a knowledgeable lending partner by your side as you weigh your financing options and navigate the paperwork involved. Down Payment and Mortgage Insurance Most, but not all, home loans will require a down payment.

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How to Buy a Rental Property: Get Tips from the Experts

PennyMac

If so, you are probably intrigued by the prospect of investing in rental property. Financing, knowing what kind of property to buy, and the many other steps are all part of a well-rounded investment plan. Here are some tips from real estate experts on how to buy a rental property that’s right for you. Property taxes.

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The Assumable Mortgage – Is It the Right Move for You?

PennyMac

In a standard home purchase scenario, prospective homebuyers apply with a lender to obtain conventional financing to get the new home on their wishlist. Did you know, however, that there may be another financing option that could possibly benefit both the buyer and the seller under the right circumstances? and $220,071.99

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Buying a Second Home – What You Need to Know

PennyMac

Many people consider financing an additional property for a variety of reasons: it’s exciting and potentially lucrative if acquired correctly. Insurance. A second home usually means higher insurance costs for homeowners. If you’re renting, there’s also landlord insurance. Financing & Mortgaging. Qualifying.

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