The House Veterans Affairs Committee has approved a bill that would increase the VA loan guarantee so that veterans and military personnel could get no-downpayment loans of up to $333,700, which is the Freddie Mac conforming loan limit.The bill (H.R. 4345) would set the VA guarantee limit at 25% of the conforming loan limit, effectively raising the government guarantee from $60,000 to $83,435. Currently, lenders can sell no-downpayment VA loans into the secondary market with a principal balance of up to $240,000. The bill, sponsored by Rep. Ginny Brown-Waite, R-Fla., also indexes the VA loan guarantee limit to the conforming loan limit.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28