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Department of Justice investigates homebuilder Lennar's mortgage subsidiary

Published: 25 Jan 2018 14:07:32 Z

Lennar's mortgage subsidiary is under investigation by the Department of Justice over underwriting related to Federal Housing Administration loans, the major U.S. homebuilder disclosed Thursday.
Buying a house? An insider's guide to FHA loan requirements for 2017

Published: 16 May 2017 20:00:18 Z

FHA loan requirements for 2017 are contained in a 1,009-page "handbook" published by the U.S. Department of Housing and Urban Development. Here's what you need to know about the requirements to borrow an FHA loan without the government jargon and ...
5 ways to buy a home with a low down payment

Published: 20 Oct 2017 09:33:07 Z

Saving up 20 percent for a down payment may sound like it's a rule of thumb, but the reality is that most homebuyers are putting down much less than that and are still able to finance their dream home. In fact, the average down payment, according to ...
What you need to know about Trump's reversal of the FHA mortgage insurance rate cut

Published: 02 Feb 2017 23:14:30 Z

On his first day in office, President Donald Trump issued an executive order to undo a quarter-point decrease in Federal Housing Administration (FHA) mortgage insurance premiums. The rate decrease had been announced by the Obama administration ...
Bad credit? Here's how to get a mortgage

Published: 25 Oct 2017 19:08:12 Z

If you have a credit score of at least 580, you might qualify for a FHA loan that requires a down payment as low as 3.5 percent. For starters, you'll have to pay both an upfront mortgage insurance premium (typically about 1.75 percent of your base ...
Get the best deal on your first home in these cities

Published: 21 Feb 2018 12:28:05 Z

Home prices are increasing while inventory is decreasing nationally, which presents a challenge for first-time homebuyers who might not have the cash for a hefty down payment. When you consider the ideal down payment is 20%, in markets where housing ...
Mortgage demand unchanged even as interest rates fall

Published: 08 Nov 2017 13:35:14 Z

The interest rate on the popular 30-year fixed mortgage moved lower last week for only the second time since September, but that was not enough to entice consumers to call their lenders. Refinance volume stood 36.5% lower than the same week one year ...
Weekly mortgage applications stall along with rates and home sales

Published: 04 Oct 2017 12:22:31 Z

Rising interest rates and rising home prices are cutting into mortgage demand, as fewer consumers have the incentive to refinance or buy a home. Demand for adjustable rate mortgages is also rising. Last week, the average rate on a five-year ARM fell ...
Government shutdown may create roadblocks in the housing market

Published: 22 Jan 2018 14:47:11 Z

If the ongoing congressional budget standoff forces a government shutdown, homebuyers and sellers could be subject to more headaches than usual before their deals close. That's because buyers looking for mortgage approval could hit paperwork ...
Despite challenges, there are ways Millennials can prep themselves for homeownership

Published: 14 Apr 2018 19:00:02 Z

Not long ago, some poor soul suggested (and probably instantly regretted) the reason Millennials can't afford to buy homes is because they spend too much money on avocado toast. Home ownership is difficult to achieve if you belong to the generation ...
Real estate: 4 reasons fewer Americans are buying homes

Published: 15 Sep 2017 11:00:01 Z

While the U.S. homeownership rate has climbed slightly since reaching a 50-year low in 2016, it remains near a generational low at just 63.7%. Simply put, more people are choosing to rent than buy their homes in recent years than at any point since ...
Reverse mortgages: Opportunities and concerns

Published: 10 Nov 2017 21:00:07 Z

As home equity conversion mortgages, also known as reverse mortgages, have grown in popularity in recent years, financial advisers have been employing them as risk- and cash-management tools. Upfront costs are raised to 2% of the home's value, up ...
Open or closed? Here's how a government shutdown could impact you

Published: 20 Jan 2018 21:42:40 Z

WASHINGTON — Congress tiptoed up to the brink of a federal government shutdown Friday night — and then fell over the edge. The Senate failed to pass a short-term spending bill by midnight, meaning federal agencies are now operating without a budget.
Mortgage rates drop to lowest since election, but borrowers barely budge

Published: 16 Aug 2017 13:14:04 Z

The lowest mortgage interest rates since November did little to encourage people to refinance their home loans or take out a new loan to buy a home. A sharp drop in rates usually prompts homeowners to refinance, but those applications rose just 2% ...
Ownership: Home-buying tips for women in single-income households

Published: 31 Mar 2018 11:00:06 Z

The real estate website Estately recently conducted a study showing how the continued gender wage gap in America affects home affordability and ownership for women. To answer this question, Estately used 2016 U.S. Census data to compare men's and ...