Items Tagged with 'low down mortgage'

ARTICLES

  • Caliber Home Loans rolls out jumbo loans with 5% down and no mortgage insurance

    Borrowers can qualify for $2 million with 5% down and 740 FICO score
    With home prices continuing to rise without any relief in sight, more lenders are beginning to offer new jumbo mortgage products in an attempt to keep up with those rising prices. Now, Caliber Home Loans is unveiling a new jumbo mortgage program of its own – and this one features loans of up to $2 million with as little as a 5% down payment and no mortgage insurance.
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  • Genworth: 3% down mortgages key to lock in first-time homebuyers in 2018

    Where will credit expand in 2018?
    With overall mortgage originations projected to decrease in 2018, mortgage lenders are looking to first-time homebuyers to make up a large portion of their business. According to a new survey from Genworth Mortgage Insurance, the majority of lenders anticipate strong first-time homebuyer growth in 2018. So what type of mortgage products will they choose?
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  • FHFA Director Watt gives small glimpse into status of 3% down programs

    Here's who has used the program
    Since Fannie Mae and Freddie Mac unveiled their low down mortgage programs back in 2014, there hasn’t been a lot of detail given around the status or success of the programs. While the information is still sparse, Federal Housing Finance Agency Director Mel Watt gave a brief update on the low down programs in his testimony for his hearing before of the House Financial Services Committee.
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  • Hey lenders, are you ready for 5.2M more homeowners?

    3 experts provide a roadmap for the future of lending
    By 2025, it is predicted that there will be 5.2 million more homeowners. And of this number, people born in the 80s and 90s, also known as Millennials, are expected to dominate the home-buying market. So what does the mortgage industry need to do to meet the upcoming demand? A recent HousingWire webinar asked three experts to talk about what the future looks like for the industry.
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  • One year later, here is how Fifth Third's no-down mortgage program is performing

    Firsthand account from a borrower, too
    This time last year, Fifth Third Mortgage revealed its exclusive Down Payment Assistance Program, which offered 3% of the purchase price in down payment assistance, leaving the borrower to put zero down on the home. Since no-down mortgage programs are still hard to come by, HousingWire visited with the lender for an update on the program to see how it’s performed. Spoiler alert: It’s performing well.
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  • Land Home Financial Services rolls out zero down payment mortgages

    Lender will gift borrowers 5% to be used for down payment, closing costs
    In the last few years, several lenders unveiled ultra-low down payment mortgages, with some requiring no down payment from certain borrowers. Now, another lender is rolling out a zero down payment mortgage of its own – Land Home Financial Services.
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  • Guild Mortgage launches nationwide 1% down mortgage program

    Targets Millennial homebuyers
    Guild Mortgage announced a new nationwide 1% down mortgage product to cater to the upcoming surge in Millennial homebuyers. To make the down payment so low, the borrower’s 1% down will be combined with a 2% grant from the lender. While it’s not the first lender to roll out a 1% down, there are a couple key factors that make Guild’s 1% down mortgage stand out.
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  • MGIC: Should borrowers wait to save 20% down or buy now?

    Here’s the math to find out
    Down payments are commonly cited as one of the most misunderstood parts of the home-buying process, as potential homebuyers hold off shopping until they can put 20% down on a home. A new calculator from MGIC helps solve this problem. Home shoppers can use the calculator to see if they should buy now or wait.
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  • Bank of America doubles down on 3% down mortgages without insurance

    Expands "Affordable Loan Solution" for low- and moderate-income homebuyers
    Earlier this year, Bank of America, in partnership with Freddie Mac and Self-Help Ventures Fund, began offering mortgages that only required consumers to put down 3% and did not require the consumers to obtain mortgage insurance either. Bank of America said Thursday that the "Affordable Loan Solution" program is proving so successful in its first few months that the bank is doubling its annual commitment to the program – from $500 million to $1 billion.
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