Remove Government Remove Modernization Remove Mortgage Remove Property Taxes
article thumbnail

Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal?

Appraiserblogs

Mass Appraisal tend to exhibit a regressive nature… In the intricate landscape of real estate mortgage financing, the notion of appraisal waivers recently dubbed “Value Acceptance”, by the Government Sponsored Enterprises (GSEs), has stirred considerable debate. Despite its roots in a methodology designed to support appraisers, Value.

article thumbnail

CFPB proposes rule to bolster PACE loan borrower protections

Housing Wire

With a residential PACE loan, renovations are financed and are then paid back by the borrower as property tax payments to their local government, resulting in higher property tax payments for borrowers. Between 2014-2020, the majority of PACE loans were used for natural disaster preparedness.

Insiders

Sign Up for our Newsletter

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

article thumbnail

A property tax reckoning is coming

Housing Wire

In Spokane, Washington, a mortgage loan officer at a regional bank has seen five borrowers qualify for a mortgage for one amount, only to have that number slashed a few months later. The culprit is property tax bills, which arrived on April 1, bearing property tax increases driven by fast-rising home prices.

article thumbnail

How To Appraise Rural Properties

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? By Dallas T.

article thumbnail

It hasn’t been this hard to buy an existing home in at least a decade

Housing Wire

High mortgage rates and depleted housing inventory have exacerbated an already existing housing availability crisis. As a frame of reference, a 20/1,000 turnover rate is a fairly typical for the modern housing market. Historically, California’s tax laws have incentivized homeowners to stay put by limiting property-tax increases.

Inventory 370
article thumbnail

Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

The monthly house payment to buy a renovated foreclosure — assuming a 5% down payment, the going 30-year fixed mortgage rate at the time of sale and including property taxes and insurance — represented just 20% of the median family income in the surrounding Census tract. This also raises the properties and neighborhoods values.

Inventory 435
article thumbnail

What Is a USDA Loan and How Do I Apply?

Assurance Financial

It aims to encourage the purchase of homes in rural or suburban areas by making mortgages easier for borrowers to obtain. Compared to conventional loans and other types of government-guaranteed loans, USDA loans have lower down payment requirements and lower income requirements. Be unable to get a mortgage through other means.