Appraisal Buzz

DECEMBER 10, 2024

With mortgage rates elevated and the housing market evolving, many homeowners are choosing to update their current home rather than look for a new one. One aspect of this is borne out in a recent study from Nationwide , which shows that 51% of homeowners surveyed had completed a major home renovation project in the last two years.

Renovations 195

Renovations Insurance Agents Investing 195

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah.

Mortgage 434

Mortgage Loan Officers Lending Renovations 434

Appraisal Buzz

MARCH 10, 2025

However, buyers who are already stretching their budget to afford a home in todays market may not be willing or able to spend more on renovations or repairs. But add in the rising costs of renovations (thank you, inflation and high interest rates) and what looked like cost savings can quickly vanish. home renovation trends.

Renovations 403

Renovations Home Value Buyers Sellers 403

Housing Wire

JANUARY 22, 2025

Home renovation projects could bring a variety of safety and efficiency improvements to older construction, but anxiety is a key element keeping many homeowners from exploring renovation projects. Baby boomers led the way in this respect, with 60% of boomer respondents saying savings would be the primary funding source for renovations.

Renovations 370

Renovations Home Improvement Construction Mortgage 370

Appraisal Buzz

DECEMBER 4, 2024

Average project costs also climbed, reflecting not only inflation in raw materials and labor, but also a shift toward professionally completed renovations. Holden Lewis, a mortgage expert at NerdWallet , attributed the trend to “rate lock-in,” where homeowners remain in their current homes to avoid losing favorable mortgage rates.

Home Improvement 397

Home Improvement Renovations Finance Housing Market 397

Housing Wire

MARCH 5, 2025

The newest weekly mortgage applications survey data, released Wednesday by the Mortgage Bankers Association (MBA) included the lowest mortgage rates in months, which created a stir in the number of applications. More renovations? So now that rates are dropping, a renovation loan will be in the 7% range.

Loan Officers 297

Loan Officers Renovations Government Buyers 297

Housing Wire

OCTOBER 10, 2024

What do you get when you combine home renovation specialists with a lender that can provide funds in short order? The new partnership between HouseAmp and Renovation Sells. The Renovation Sells platform focuses on design and construction, while the loans come from HouseAmp.

Renovations 435

Renovations Design Sellers Finance 435

Housing Wire

MAY 10, 2021

announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% in 2021 to $433 billion.

Renovations 397

Renovations Finance Home Improvement Lending 397

Housing Wire

JANUARY 21, 2025

Last week, Mark Steven Diamond who was found guilty of bilking older homeowners in the Chicago area out of money through a reverse mortgage scam was sentenced in federal court to a 17-year prison term. It came out later that the paperwork she signed was for a reverse mortgage, Herron told the outlet. “Never. “Never.

Mortgage 370

Mortgage Law Renovations 370

Housing Wire

JUNE 8, 2021

It mostly originated cash-out refis and purchase mortgages in 2020, according to HMDA statistics in Polygon’s database. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% in 2021 to $433 billion. The space remains dominated by depository banks.

Renovations 447

Renovations Home Improvement Marketing Finance 447

Appraisal Buzz

JANUARY 30, 2025

While some homeowners prioritize their mortgage payments, those who are not financially prepared may face significant challenges due to other essential and frequent expenses such as homeowners insurance, property taxes, utilities, repairs, and maintenance. To read the full report, including more data, charts, and methodology, click here.

Buyers 335

Buyers Property Taxes Mortgage HOA 335

Housing Wire

OCTOBER 4, 2022

According to Joseph, homes needing renovation can be “daunting,” especially for first-time homebuyers looking for something that is turnkey. FHA understands that the loan limit, for example, does not reflect the current rising prices landscape and, in some cases, it does not cover the cost of renovations.

Renovations 418

Renovations Development Mortgage 418

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash.

Mortgage 321

Mortgage Training Construction Investors 321

Housing Wire

FEBRUARY 5, 2025

Data courtesy of Auction.com Higher levels of unemployment could cause more homeowners to become delinquent on their mortgages and lead to foreclosure, while slower price appreciation could mean they have less home equity to rely upon to pay debt or avoid a short sale.

Retail 417

Retail Renovations Buyers Finance 417

Housing Wire

JANUARY 9, 2025

This finding likely stems from an increase in renovation costs over the past three years, forcing some buyers to pursue costly financing sources to improve their homes. A study by online home improvement platform Houzz highlighted a 60% increase in renovation expenses between 2020 and 2023.

Buyers 418

Buyers Renovations Housing Market Home Improvement 418

Housing Wire

FEBRUARY 26, 2021

Try one of these renovations: More for Real Estate Enthusiasts. 5 reasons to refinance your mortgage right now. Four renovations to consider before selling your house. If you’re not up to funding any major renovations at the moment, there are smaller changes you can make to reduce your risk in the event of a natural disaster.

Renovations 394

Renovations Design Real Estate Insurance 394

Appraisal Buzz

NOVEMBER 13, 2024

Louis-based real estate company, homebuyers spend an average of $31,975 in homebuying expenses, such as closing costs, repairs, and moving, in addition to their down payment. home ($501,500) adding $75,255, the upfront cost totals a staggering $107,230.

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

OCTOBER 24, 2024

Sandoval said her approach is one that is difficult for banks and mortgage servicers to replicate, not only because of the face-to-face experience she offers but also because of the inherent – and often misguided– distrust that many distressed homeowners have for financial institutions. “There is nothing like that face to face.

Retail 448

Retail Buyers Renovations Finance 448

Appraisal Buzz

NOVEMBER 15, 2024

More than 1,800 homeowners who bought a home during the last ten years with a mortgage loan and are currently homeowners participated in TD Bank’s HELOC Trend Watch nationwide poll. Forty-three percent of people who are remodeling or intend to renovate their homes are doing so in order to raise their home’s equity.

Renovations 370

Renovations Lending Investing Home Improvement 370

Appraisal Buzz

FEBRUARY 6, 2025

Even middle-aged couples often welcome their aging parents into their homes and must renovate their space to accommodate their changing needs. For mortgage professionals, this presents a chance to think beyond traditional lending practices and become true financial partners for these families.

Lending 348

Lending Renovations Finance Housing Market 348

Housing Wire

JUNE 27, 2022

The national mortgage delinquency dropped to an all-time low in May, continuing two consecutive months of a decline since March. million properties were in early-stage delinquencies, defined as borrowers who missed a single mortgage payment, which is a slight increase of 0.2% A total of 1.46 A total of 1.46

Mortgage 531

Mortgage Renovations Buyers 531

Housing Wire

NOVEMBER 15, 2024

“If the home you’re hoping to buy doesn’t have the accessibility you’re looking for, you’ll want to check with a contractor to see what kind of renovations are possible,” the story said.

Design 435

Design Renovations Retail Home Improvement 435

Appraisal Buzz

FEBRUARY 13, 2025

With digital assistants and smart home devices gaining broader adoption in everyday life, AI tools are becoming a valuable resource for home shoppers, said Chris Birk, VP of Mortgage Insight at Veterans United. The survey also found that 27% of respondents used AI to visualize potential renovations or changes to a home.

Tools 425

Tools Buyers Renovations Technology 425

Housing Wire

JUNE 24, 2024

As home values have risen sharply, this has made the conundrum facing the area’s seniors more difficult to navigate: If they need to downsize, they may not be able to move into a home in their price range, much less be able to obtain a mortgage at a rate that can be easily absorbed on a fixed income.

Renovations 395

Renovations Property Taxes Supply Chain Law 395

Housing Wire

FEBRUARY 25, 2025

Constitution Lending rates and terms Interest rate 9.5 - 12% Loan-to-value Up to 75% for purchase loans, up to 90% for renovation financing Upfront fees 2-4% of loan amount Credit requirement 600 Minimum Credit Score Investing experience None required, but a strong business plan can help odds of approval.

Renovations 366

Renovations Real Estate Investors Investing 366

Housing Wire

JUNE 20, 2024

The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. Among the provisions established by the TCJA was a mortgage interest deduction for primary residences and second homes.

Mortgage 497

Mortgage Bracketing Law Property Taxes 497

Housing Wire

MAY 24, 2024

Movement Mortgage , a multichannel mortgage lender, has appointed Joe Thompson as its new regional director. Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division.

Mortgage 447

Mortgage Renovations Loan Officers Retail 447

Appraisal Buzz

FEBRUARY 25, 2025

The percentage buyers are putting down is relatively high because mortgage rates are elevated near 7%, and some buyers are putting down more up front to bring down their monthly interest payments. The share of buyers paying with cash peaked in 2023 because thats when mortgage rates peaked, hitting a two-decade high of nearly 8%.

Buyers 360

Buyers Renovations Mortgage Housing Market 360

Housing Wire

FEBRUARY 20, 2025

. “For a consumer who wants to do a home renovation , a consumer who wants to consolidate debts, or a consumer who wants to take cash out to pay for tuition for their kids, our product serves all of those use cases.” of mortgaged residential properties in the U.S. ” How is it so fast? figure is far above the 26.5%

Business 302

Business Renovations Investors Market Value 302

Housing Wire

SEPTEMBER 9, 2024

added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. Be My Neighbor will enable reAlpha to provide integrated mortgage services to consumers who utilize the reAlpha platform to purchase homes, reAlpha said. Publicly traded real estate software firm reAlpha Tech Corp.

Brokerage 457

Brokerage Mortgage Real Estate Renovations 457

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We billion AUD, or roughly $1.2 billion USD.

Mortgage 448

Mortgage Finance Renovations Modernization 448

Housing Wire

MARCH 19, 2024

Lewisville, Texas-based property services company MCS announced last week that it acquired Five Brothers Asset Management Solutions , a deal which brings MCS into the reverse mortgage industry for the first time, according to an announcement by the company. Five Brothers, headquartered in Warren, Mich.,

Mortgage 448

Mortgage Renovations Clients Business 448

Appraisal Buzz

OCTOBER 15, 2024

While some believe the “American Dream” is still attainable in today’s market, new Point2 data showed that a growing number of prospective homebuyers do not see themselves as homeowners, citing a combination of factors such as mortgage rates, availability, and growing home prices.

Tenants 370

Tenants Renovations Modernization Contracts 370

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgage 493

Mortgage Real Estate Agent Renovations Finance 493

Housing Wire

DECEMBER 21, 2023

Unfortunately, too many misconceptions persist among real estate and even mortgage industry professionals about the VA home loan, and those misconceptions have big (and negative) impacts. VA mortgage loans generally provide veterans and active-duty service members with more favorable terms than other loans on the market.

Mortgage 468

Mortgage Renovations Appraisal Process Finance 468

Housing Wire

JULY 1, 2022

Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021. million first-lien residential mortgages with $2.6

Mortgage 397

Mortgage Renovations Buyers 397

Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. This bodes well for those still looking to refinance, renovate or even purchase a new home.”.

Mortgage 529

Mortgage Valuation Housing Market Renovations 529