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Reverse purchase financing: The financing option no one is talking about

Housing Wire

They own the home with their name on the title, as with any mortgage, traditional or reverse. But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance.

Finance 427
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Buyside launches a new home valuation pages feature

Housing Wire

Buyside’s new feature enables the millions of homeowners who are currently receiving a Home Valuation Report from Buyside, to now see a personalized Home Equity Dashboard. According to NAR over 69% of buyers have a home to sell, so really homeowners represent the earliest buyer.

Valuation 288
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The jumbo market’s turning point (Part I)

Housing Wire

(The FHFA’s conforming loan limit was a baseline of $647,200 in 2022, and $726,200 in 2023.) In the secondary market, these jumbo loans are sold to other investors, such as real estate investment trusts, hedge funds and insurance companies. In June , existing, single-family home sales declined 4% from May and 19.7%

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When Should You Seek an Appraisal to Eliminate PMI?

East Coast Appraisal

Private mortgage insurance, or PMI, allows lenders to offer home loans to buyers without the traditional 20 percent down payment. This insurance covers the risk of financing a mortgage with less equity from the buyer. A house bought for $200,000, for example, may carry PMI fees until the loan is paid down to $160,000.

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Everything You Need to Know about the Mortgage Approval Process

Eppraisal

Application: Because You Say So When a mortgage applicant sits down with a loan officer to formally request a home loan, the information conveyed is received in good faith, i.e. the lender's representative gives the prospective borrower the benefit of the doubt as far as representations go regarding income, employment, assets and home value.

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How to Build Equity in Your Home

Assurance Financial

There’s another benefit to homeownership, and that’s the chance to build equity in your home. Many homeowners look at their property as an investment. Another way that a home acts as an investment is through equity. The more equity you have in your home, the more homeowner advantages you can enjoy.

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All You Need to Know About Reverse Mortgage Appraisals

AmeriMac

The reverse mortgage process typically begins with a borrower contacting a loan officer who specializes in reverse mortgages. The loan officer will assess the homeowner’s eligibility and explain the details of the loan, including the potential loan amount and repayment terms.