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The mortgage news recently has centered on the rising home prices and the appraisals. The Appraisal Gap in some instances has been a factor for some losing the competitive bidding war. Click my video above and learn how Viewpoint Financial Home Loans may be able to help navigate through that gap to get you and your client from “Looking” to “Closed”!
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If you’re a landlord, then you’re well aware that many state governors enacted eviction moratoriums to protect vulnerable tenants during stay-at-home orders in response to the COVID-19 pandemic. The federal government also got involved when the Director of the Centers for Disease Control (CDC) issued an executive order halting certain evictions based on nonpayment of rent.
Freddie Mae has announced a new single-close mortgage product that will allow homeowners to finance the cost of small-scale renovations. The CHOICEReno eXPress will allow homebuyers to make cosmetic renovations, such as replacing windows and doors, roof repairs, minor remodeling and interior or exterior painting.
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Due largely to unprecedented house-price acceleration nationwide, homeowners age 62+ are hitting all-time highs when it comes to housing wealth. The Home Equity Conversion Mortgage (HECM, a reverse mortgage insured by the federal government for borrowers age 62+) is a versatile financial tool for seniors.
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Are you thinking about purchasing a home or refinancing your current loan? If so, I want to make sure you’re aware why now may be a great time to move forward.
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The most recent Home Price Expectations Survey – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists – forecasts home prices will continue appreciating over the next five years, adding to the record amount of equity homeowners have already gained over the past year.
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For more than a year now, the housing market has been a perfect storm for sellers, but the winds may finally be shifting. Strong demand and record-low supply are starting to ease, and mortgage rates are coming down off their recent highs. While home prices are still surging, these new market dynamics will likely take some of the heat out of those gains as well.
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Like many others, are you facing a lot of buyer competition? Need just a little more flexibility to help get your offer accepted? Hit play to learn how we have guided buyers and agents in this predicament to have their offer
be the one that gets accepted.
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According to the National Association of Realtors (NAR), pending home sales—a forward-looking indicator of home sales based on contract signings—rose 8.0% to 114.7 in May 2021, reaching the highest reading ever for this metric in the month of May since 2005. Year-over-year, signings increased 13.1%. An index of 100 is equal to the level of contract activity in 2001.
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We are pleased to report that FHA has eased and simplified their student loan policy by providing these two options for calculating the student debt monthly obligation for underwriting purposes:
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Home shoppers face fierce competition in today's real estate market, where would-be buyers outnumber sellers. Cash buyers have an advantage because they don't have to wait for a mortgage lender's approval. In April 2021, one-quarter of home sales were to cash buyers.
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When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to buy that home is just as important.
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On May 7, 2021, Viewpoint Financial Home Loans introduced a new refinance option for (low to) moderate income borrowers with single family mortgages backed by Fannie Mae and would start this summer. We now have an update for this new product. Starting Monday, June 7th, Viewpoint Financial Home Loans will be able to process the Fannie Mae RefiNow loans (Freddie Mac is due to begin these in August).
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The sharp increases we've had in real estate values have led to an all-time high in homeownership equity. This surge in home equity, along with record low mortgage interest rates, has given most homeowners the opportunity to:
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Reports have been issued about the strong gains in homeowner equity. The availability of home equity is important for homeowners who may be unable to make mortgage payments, providing them the option to sell their home rather than face a foreclosure or a short sale.
