Remove Finance Remove Loan Officers Remove Property Taxes
article thumbnail

Homebuyers are taking more risks in an obstacle-filled market

Housing Wire

Findings include 71% of loan officers reporting an increase in buyers who are willing to purchase fixer-uppers, explore unconventional financing or accept high mortgage rates despite long-term financial concerns. Many first-time homebuyers are stretching their finances to the limit.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

Mortgage 448
article thumbnail

Credit Plus integrates with LendingWise

Housing Wire

Holmes said the new integration enables commercial and private money loan officers using LendingWise to streamline their processes and obtain a business owner’s credit report from Credit Plus – without leaving the LendingWise platform. Case Study: How One Lender Increased Efficiency and Client Satisfaction.

article thumbnail

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.

Logistics 448
article thumbnail

How top mortgage broker Mark Cohen stays on top of the SoCal market

Housing Wire

The lack of housing inventory – a major pain point for real estate agents and loan officers – is an issue that Mark Cohen, principal owner of Cohen Financial Group , also sees in the upper end of the Southern California market. Anywhere from about $1 million to $4 million, the market is very, very competitive.

Marketing 397
article thumbnail

Mortgage rates are plummeting, but will sales grow?

Housing Wire

As of Wednesday, many loan officers were quoting in the low 6% range for conventional conforming mortgages, and in the mid-to-high 5% range for government loan products. Property taxes are also a significant factor for affordability for a home.

Mortgage 468