Median down payment slides $2,400 as affordability improves

Moderating mortgage rates and lessening buyer competition have pushed the U.S. median down payment down 7.33 percent over the past year, according to Realtor.com. Continue reading

US homebuyer down payments reach new record, outpace prices

According to Redfin, the typical U.S. homebuyer’s down payment hit the highest level in over a decade, at 18.6 percent of the purchase price in June, up from 15 percent the previous year. Continue reading

Private mortgage insurers again losing market share to FHA, VA

FHA premium cuts spur growth, but borrowers with stellar credit can still do better taking out conventional Fannie Mae- or Freddie Mac-eligible mortgages with private mortgage insurance. Continue reading

Knock integrating bridge loans into partners’ prequal processes

NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell. Continue reading

UWM’s 0-down loans a hit with buyers, worry consumer advocates

Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading

Nepo Babies grow up as data points to new phenomenon: Nepo Buyers

Thirty-six percent of Gen Zers and millennials who plan to buy a home in the near future intend to use a cash gift from family to contribute to a down payment, according to data from Redfin released Wednesday. Continue reading

Mortgage giants offering very low income homebuyers a spring break

Fannie Mae and Freddie Mac are offering a $2,500 credit that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums. Continue reading

LoanDepot lets buyers cover FHA down payment with 2nd mortgage

Available everywhere except New York, loanDepot’s new “accessZERO” program provides a down payment of up to 5 percent in the form of a 10-year fully amortized second mortgage. Continue reading

Intel unpacks the startling price of entry into the US housing market

Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers. Continue reading

8% of buyers got down payment help from family this year: Survey

A new survey of 1,700 real estate agents this spring found that homebuyers in the Northeast and in Southern California were the most likely to get financial help from their family. Continue reading