The U.S. mortgage and real estate market is shifting significantly as of December 18, 2024, which affects sellers, buyers, and investors alike. Here’s a comprehensive overview:

Mortgage Rates and Predictions

Let’s look at the current averages step by step. These include the 30-year fixed mortgage, which sits at around 6.78%; the 15-year fixed rate, which sits at 5.94%; and the 5/6 adjustable-rate mortgages (ARMs), which average 7.35%. While all this was happening, the Federal Reserve steadily implemented cuts by scaling the benchmark rate to around 4.3%. However, because of the economic woes and low inflation, mortgage rates remained high, above 6%, as many analysts calculated.

Housing Market Activity

7.35% fixed mortgage rates, along with inflation and remodeling costs, severely restricted builders and home buyers alike from pursuing new projects. Most builders’ optimistic stance, hoping for a turn in market conditions, along with the continued price rise even as remodeling costs rose from $350,000 to $370,000 between 2020 and 2021, further restricted activity in the industry.

NewHome Construction

As housing construction felt the initial effects of the CR2 storm in 2021, the sudden rise in temperatures in the fall of 2022, coupled with the lack of consistent supply, felt like a final unlocking of the keyhole to this issue, with building starts in November having risen by 6.4% to an annual rate of an estimated 1 million units.

Although prices have risen, the rate of increase has been moderated compared to previous years.

Home Price Forecast for 2024-2029

Due to increased listings enabling a relatively higher home sales rate, home prices are predicted to remain flat. However, home prices will gradually rise between 2025 and 2029, with an estimated 1% increase yearly.

Housing Market Forecast for 2024

Substantial growth is anticipated in metropolitan housing markets, such as Oxnard, CA, Rochester, NY, and San Diego, CA. Prices and sales will ideally grow due to good economic conditions and stable prices.

Consumer Insights and Issues in the MarketMillennials as Homebuyers

One of the biggest blocks preventing millennials from fully engaging in the market is high home prices and higher mortgage rates. Based on current trends, 30-year-olds have a 43% homeownership rate, compared to 52% for baby boomers of the same age. Perceptions of homeownership or wealth due to economic imbalance within the generation heavily impact the decision-making process.

Concerns About Affordability: Today, as before, affordability continues to be an issue due to increased home prices and high mortgage interest rates. This led to elevated monthly repayments on existing mortgages. The increasing inventory levels would assist many prospective buyers, but the financial problem would remain.

Investment Opportunities

Real Estate Investment Trusts (REIT): Analysts say total returns on U.S. REITs should fall between 5 and 15 percent in 2025.

American Healthcare REIT, Extra Space Storage, and Cousins Properties are the best choices. These have made sensible investments and displayed steady occupancy rates. Still, their performance could be influenced by high valuations and anticipated changes in tax policies.

The American mortgage and real markets are adjusting to a trying period defined by high rates, low appreciation of home prices, and shifting consumer habits and behaviors. Operators must keep abreast of economic indicators to operate effectively in this economy, including the Federal Reserve’s decisions, policies, and market trends.

U.S. Headline News Summary Between December 16th-22nd 2024 Weekend Wrap Up. This is a detailed overview of the US headlines news of December 16 to December 22 for the year 2024:

February 16, 2024

Abundant Life Christian School Shooting:

• An unfortunate event occurred on February 16, 2024, at Abundant Life Christian School in Madison.
• A school teacher and a student were brutally murdered, along with multiple others getting injured during the life firing.
• It was brought to notice that the shooter was a 15-year-old student who killed herself after the incident.
• It is being investigated if she has any connections with a man living in California who was detained for planning another mass shooting.

February 17, 2024

Investigation Further:

• The Wisconsin shooting was reported to the authorities on February 14, 2024.
• They are investigating the shooter’s personal life, including their social media accounts, to look for any information that could provide insights into her motives for the attack.
• The malefactors of the country paid condolences to the deceased.
• The families of the deceased were offered counseling services to help with the process.

Donald Trump Remarks On Transition

• Donald Trump, who was elected president, held a press conference.
• He shared with the nation his administration’s plans, which included focusing on the general welfare of the people, reforming education, and increasing the budgets for public safety.
• The potential distribution of pardons and the current administration status regarding the polio vaccine were also re-touched.

February 18, 2024

Alerts Concerning Harsh Weather Conditions:

• The National Weather Service issued warnings for Extreme Winter conditions across the northern areas of the United States, including North Dakota, Minnesota, and Wisconsin, between February 16, 2024, and February 22, 2024.
• Light rainfall and thunderstorms predicting torrential rainfall across the southern parts were also expected.

Legislative Measures Against Gun Violence:

• On December 19, 2024, in the wake of tragic incidents, the government commenced deliberations seeking to implement measures aimed at regulating the sale of firearms and tightening the background checks to prevent the sale of guns to minors.

Logistical Challenges:

• The adverse weather conditions brought thunderstorms alongside severe winter weather, resulting in massive road hazards.
• The severe winter hampered travel further, leading to widespread flight cancellations.
• Southern states were also warned about an incoming storm, with snow warnings.

Economic Outlook:

• Economic worries commenced when the approaching holiday season led to slight increases in unemployment claims being reported.

Gun Violence:

• On December 20, 2024, community members, alongside officials, participated in a vigil in Madison to honor the victims of the school shooting.
• They provided their perspectives regarding the tragedy, gun violence, and contemporary gun laws.

Shopping Trends:

• Fractured retail activity was noted due to the volatility within the economy.
• While spending during the holidays shot up, sectors exhibiting strong sales could not compete with the stragglers.

Travel Chaos:

• The storm’s movement out of the Midwest left many issues, including travel disruptions and power outages.
• Southern states suffered due to severe thunderstorms, which led to damaging flood waters, resulting in localized flooding.

Political Dynamics:

• The Trump Administration finalized cabinet appointments, with additional discussions around significant positions in education, public safety, and several other sectors.

December 22, 2023

Present Recovery Actions:

• The communities affected by the winter storm have started recovering.
• Their aim was to clear the roads and get the power back on.
• Emergency services evaluated the damage to any infrastructure.

National Insights:

• Once more, various media outlets were writing about significant developments of the year,
• This refers to the end of 2024, which does not seem to have ended gun violence, climate change, or political unrest.

This summary outlines the relevant news and developments related to the US events from December 16 to December 22, 2024, emphasizing the school shooting and its consequences, extreme weather events, and political changes within the country.

https://www.youtube.com/watch?v=JQlziWgJ6aI&ab_channel=EVAArtesManuais

Crucial developments are changing the country as a whole in the US as of 18th December 2024.

A detailed summary is given below: Political and Government Measures

Banning of US investments in China

The American Congress is about to vote on the laws prohibiting Americans from investing in Chinese technology, targeting artificial intelligence and microelectronics. This effort is designed to resolve issues regarding national security as it shows measures to concern about the packages to fund the government so that federal activities continue until the middle of March.

Renovation of RFK Stadium

The American Congress has passed a bill that will allow Rexon to redevelop the RFK stadium in the district ardent S Senior Sc and lease it for 99 years. This will allow the Washington commanders to return to their esteemed location rent-free.

Economic Indices Housing Market Update

US single-family home building saw a strong upturn in November after a slump caused by the hurricane. US housing starts were up by 6.4%, reaching 1.011 million units on an annual basis. Recent cuts in interest rates by the US Federal Reserve have seen the average 30-year fixed mortgage rate floating around 7, affecting the housing market as well.

Transportation and Communication

Increase in the Number of Flights Operating from Washington Reagan National Airport

The US Department of Transport has confirmed five extra daily round trips from Washington Reagan National Airport.

Flights to STL, Seattle, San Francisco, Las Vegas, San Diego, and San Antonio will soon be available through United, American, and Delta airlines. These are new developments that will be available in 90 days.

Sports Segment

Significant changes have occurred recently for the Washington Commanders, who have signed Tyree Jackson as a Tight End on their practice squad. Additionally, their week 17 game against the Atlanta Falcons has been moved to SMT for its playoff participation. The team is currently reviewing the legislative news regarding the RFK stadium location.

Safety and Education

A tragic mass shooting incident took place at the Abundant Life Christian School located in Madison, Wisconsin. The Authorities stated that a 17-year-old child was the perpetrator, opening fire and killing two children while injuring five and eventually killing himself, all during a school event. The community is left devastated, and the police are investigating the shooting.

Technology/ Security

Various regions in New Jersey are beginning to voice concerns regarding the unidentified drones hovering over the area.

Federal agencies are investigating these events and the reason for the use of drones and have urged the public to report unusual drone activity.

Transitioning Politics

Donald Trump has been regularly making cabinet announcements and policy appointments, with recent updates about the current presidency and electoral results. Discussions are ongoing about decreasing funds for the implementation of charging stations and defunding electric cars, which suggests a change in energy and environmental strategies as a result of the new president.

This would encompass varied political events within the United States, new policies, economic reports, infrastructural growth, sporting events, and safety from farm technological growth.

Since December 17, 2024, the country has witnessed key developments that have impacted the U.S. Here is an in-depth summary:

Federal Funding and Disaster Aid

Congress is reportedly close to inking a funding deal to keep all federal government services running until March 14. This bipartisan agreement allocates more than $100 billion for emergency relief to aid local and state authorities recover from natural disasters such as hurricanes Milton and Helene. Additionally, $10 billion has been allocated in aid for farmers.

The House is expected to vote on the agreement to avert a partial lockdown on government services and allow the decisions regarding the budget to be made after the new president-elect, Donald Trump, and Congress are in place. This vote is believed to push the trimming deadline to January.

Recent East Coast Mysterious Drone Sightings

The FBI and Department of Homeland Security have stated that many of the reports of unexplained drone activity that have surfaced from several East Coast states are civilian, recreational, or police drones, as well as aircraft.

There is no evidence that these UAVs pose any danger to the general population. Instead, they claim that there is a concern for drone surveillance and, therefore, many suspected incidents of antisocial behavior. Dazzling light meters are currently being conducted.

Tragic School Shooting in Wisconsin

Wisconsin School Shooting Update: The Mother is Presently Charged With Closer for the Investigation.

A male student and a teacher were shot dead by Ms Natalie Rupnow, 15. During the attack, she was armed with a 9mm pistol, which she used to open fire.

The incident took place at Abundant Life Christian School, located in Madison, Wisconsin, and it left six individuals hurt. Rupnow ended up taking her own life later on. Her community is currently grieving, and there have been fierce protests requesting the Wisconsin and American politicians to step up and put stricter regulations around gun ownership.

Environmental Concerns at the Hanford Site

Surrounded by leaking tanks and containing 56 million gallons worth of nuclear waste, it is one of the most heavily taken care of sites ever to exist.

The site underwent serious clean-up procedures to gain the vocal documentation that had been prepared since 1989. To tackle the nuclear waste issue, they turned it into glass only to make the long-term storage sit better in glass for a long time. This might be one of the most expensive projects, with costs potentially reaching the hundred billion dollar range, and might take decades to clean up completely. However, major concerns like groundwater contamination and leaking tanks are still hot topics for debate and discussion.

Economic Developments and Market Movements

• The Federal Reserve expects to go for another rate cut in the final meeting of the year.
• Political instability in Canada and Germany has resulted in turmoil in U.S. Treasury bonds.
• Long-term neutral rates are suggested to remain above 3, with the addition of long-term projections hinting at only two permitted cuts next year.
• Furthermore, Donald Trump’s plans to establish a Bitcoin reserve to eliminate the national debt have raised additional red flags among market analysts.

Sports Highlights

In the NFL, covering defender Marshon Lattimore’s endeavors have paid on the trade for the Washington Team in their showdown against the Eagles. Community efforts and field exploits define rookie quarterback Jayden Daniels, who recently gifted 100 local kids bicycles. With key performances by players Daniels and Terry McLaurin, the team’s performance this season has only ever been matched in terms of initial performance in 1992.

Political Calendar

Important dates in the U.S. political calendar that coincide with the end of the year are December 17, this year, when the electors of the U.S. president and vice president will meet in their respective capitals to cast their votes for the President and Vice President.

As mentioned, the 119th Congress, with the inauguration of the U.S. president and the formal certification of the election results, will begin on January 3, 2025. These events emphasize the context of national U.S. news as of December 17, 2024, including the passage of newly aghast public legislation, public and environmental crises, concerns, economic developments, and sporting and political events.

On December 15, 2024, the U.S. mortgage and real estate market is expected to see the following changes:

Trends in Mortgage Rates and Market Development: Reduction of Current Mortgage Rates

The average fixed mortgage rate for 30 years has dropped from 6.69% to 6.6% for the third week. Potential homebuyers can sigh relief, especially as we enter a low-competition winter period.

People Looking To Purchase Homes Expected To Rise

The NAR estimates selling numbers to be higher than in 2025 with the 6% mortgage stabilization rate. The sale value of previously-sector-owned homes is expected to be $410,700, which is a modest increase of 2%. The availability of additional stock and the increase in the number of people relocating to metro areas are shaping the market.

Regional Market HighlightsOuter Suburbs Advancement

According to Australia’s report, outer suburbs and non-metropolitan regions are comparatively outperforming other metropolitan regions in household demand, and the time taken to sell homes is also significantly less. Two cities in Australia, Perth and Brisbane, have seen a major decline in the median selling time, indicating significant market growth after particular times.

Attraction of Myrtle Beach

Myrtle Beach, SC, is gaining traction with retirees. Between 2020 and 2023, the nation saw the maximum adult growth rate of those over 65.

The local housing market has different types of properties that appeal to a wide range of buyers.

Innovations and Industry ChallengesFrustrations in Mortgage Credit

In November, mortgage credit availability drastically dropped, with government indices dropping to the lowest since 2012. Reduced investor interest has affected the liquidity in the market.

Technological Advancements

There is a growing trend within the mortgage field of enhancing how customers are treated and supported during the lending process. Lenders are adapting new technologies that optimize business processes, lower costs, and address changing consumer needs to enhance and deliver value throughout the customer journey.

Consumer StrategiesApps for Mortgage Overpayment

Owners use Sprive and similar applications to make mortgage overpayments, likely reducing their terms and the total interest paid. These applications are linked to a bank account and offer cash back, and these savings contribute to such payments.

Market Outlook: Predictions for 2025

According to the experts, mortgage prices will stay around 6% in 2025, the new mark. These reductions would allow more buyers to enter the market after the interest rates increased previously. However, affordability will remain a barrier, especially in the more sought-out areas.

https://www.youtube.com/shorts/pQrWdi0KNtE

As of December 17, 2024, the mortgage and real estate markets are experiencing notable developments across various regions. Here’s a comprehensive overview:

Mortgage Rates and Trends

• Current Averages: The national average for a 30-year fixed-rate mortgage is approximately 6.78%, rising over the past five days.
• This upward trend followed when rates reached their lowest levels since October.
• State Variations: Refinance rates vary by state, with New York, California, and Arkansas offering some of the lowest rates between 6.70% and 6.90%. In contrast, states like Kentucky, Hawaii, and Illinois have higher rates, ranging from 7.02% to 7.09%.
• Expert Predictions: Economists forecast that mortgage rates will remain above 6% into 2025, with some estimates reaching 6.8%. Factors influencing these projections include potential inflation and national debt concerns.

Real Estate Market Highlights

• Luxury Rentals: Miami Heat star Jimmy Butler rents an 8,500-square-foot mansion on Miami Beach’s exclusive Hibiscus Island for over $70,000 monthly. This property features luxurious amenities, including ocean and skyline views, a private dock, and extensive recreational facilities.
• Australian Market Dynamics: In Australia, housing has become the foremost concern in 2024, with costs escalating significantly. Mortgage holders face increased interest rates, leading to financial strain for many. The average monthly mortgage repayment has nearly doubled from $2,291 in 2022 to $4,428 in 2024.
• UK Housing Outlook: The UK propertSignificant25, such as stamp duty threshold alterations effective April 1, potential mortgage rate reductions later in the year. These factors are expected to influence the UK property market, behavior, and market activity.

Market Predictions and Buyer Behavior

• Potential Market Surge: Real estate expert Barbara Corcoran predicts that if mortgage rates drop to around 5%, it could cause a significant increase in homebuying activity, making the housing market “go ballistic.” Mortgage rates have fallen to 6.6% but fluctuate between 6% and 7%.
• Millennial Hesitancy: Millennials born between 1981 and 1996 exhibit caution when entering the housing market. Past economic crises and volatile home prices have led this generation to view homeownership as a speculative asset, contributing to a lower homeownership rate than previous generations.

The mortgage and real estate landscapes are characterized by fluctuating rates, regional disparities, and shifting buyer sentiments. Stakeholders should closely monitor these trends to make informed decisions in this dynamic environment.

Brent Norkus, of Goosehead Insurance is the preferred referred insurance agent at Gustan Cho Associates in Oakbrook, Terrace, Illinois. GCA Mortgage Group, a dba of NEXA Mortgage is licensed in 48 states including Washington, DC, Puerto Rico, and the U.S. Virgin Islands. Brent Norkus of Goosehead Insurance is availabe seven days a week, eveningss, weekends, and holidays. Brent Norkus of Goosehead Insurance, unlike other insurance agent, is hands on and leads by example. Like to thank Brent Norkus of Goosehead Insurance for this article on property homeowners insurance

https://gustancho.com/property-homeowners-insurance/

• This discussion was modified 2 years, 5 months ago by  Gustan Cho.

gustancho.com

Property Homeowners Insurance is Required by Lenders

Property Homeowners Insurance Is required by lenders to protect both the homeowners and lender's interest and collateral which is the home

Shoud I rent a house or buy a house now? I know that you will get way less house for the money but I do not want to get priced out of the housing market and rent forever.

Motorhomes, also known as recreational vehicles (RVs), are designed for living accommodations. They are equipped with amenities found in homes, making them suitable for travel, camping, and extended stays. Motorhomes come in various sizes and styles, ranging from compact camper vans to larger Class A motorhomes. Here are some common types of motorhomes:

Class A Motorhomes are the largest and most luxurious motorhomes, resembling buses. They often have spacious interiors with amenities like full kitchens, bathrooms, and living areas. Class A motorhomes are built on heavy-duty chassis.

Class B Motorhomes (Camper Vans) are smaller, van-based motorhomes. They are more compact and easier to drive than Class A or C motorhomes but have limited interior space. Class B motorhomes typically include basic amenities like a small kitchen and bathroom.

Class C Motorhomes: These are built on a truck or van chassis, with a distinctive overhang over the driver’s cab. They compromise Class A’s size and Class B’s maneuverability. They often have sleeping areas over the cab, a kitchen, a bathroom, and a living space.

Travel Trailers: While not technically motorhomes, travel trailers are towed by a separate vehicle. They come in various sizes and floor plans, offering flexibility and the option to detach the living space from the towing vehicle.

Fifth-Wheel Trailers: Similar to travel trailers, fifth-wheel trailers are towed by a pickup truck with a special hitch. They provide more stability and interior space compared to traditional travel trailers.

Motorhomes typically feature various amenities, including sleeping quarters, kitchens, bathrooms, heating and air conditioning, entertainment systems, and storage space. Some high-end motorhomes may include additional luxuries like satellite TV, washer/dryer units, and slide-out sections that expand living space when parked.

Owning a motorhome allows individuals or families to travel conveniently with their accommodations, making it a popular choice for road trips, camping, and extended vacations. Motorhomes are becoming increasingly popular. It’s like having a mobile vacation or a second home.

• This discussion was modified 1 year, 6 months ago by  Gustan Cho.

What is correspondent mortgage lending?

With Mortgage Rates Jumping from 2.0% to 8% in 2 years, inflation out of control, coronavirus pandemic outbreak, home values surging to all time highs, voter fraud, out of control political corruption, is the Mortgage Industry struggling?

Electric car blog that is very informative. https://www.politico.com/news/2023/12/22/electric-vehicle-boom-demise-00133064

politico.com

Why the battle over electric cars is primed to take off

“In my district, … this is not playing well,” GOP Rep. Lisa McClain said. “And let’s be honest, Michigan is a very influential state for the upcoming election.”

Can someone please explain how the Revenue Share residual income program works for mortgage loan officers at NEXA Mortgage. I am getting conflicting answers. Thank you in advance.

Happy Hump Day !!

VA calls on mortgage servicers to pause foreclosures of VA-guaranteed loans through May 31, 2024 – VA News

news.va.gov

VA calls on mortgage servicers to pause foreclosures of VA-guaranteed loans through May 31, 2024 - VA News

By pausing foreclosures and extending the COVID-19 Refund Modification program, we can continue assisting Veterans with their loans while we launch our newest home retention option, the VA Servicing Purchase (VASP) program.

I want to APPLY NOW for a mortgage but have outstanding collection accounts. What is the statute of limitations on collection accounts for a mortgage?

Why business partnernersips fail?

It is ridiculous how Healthcare costs are skyrocketing. Mortgage lending have caps for costs and fees such as the high cost rule. Borrowers cannot be charged more than 5% of the total cost of the loan which included third-party costs such as prepaid, escrow, homeowners insurance, title charges, etc. Compare the high cost cap to Healthcare. Especially prescription drugs.

Help with financing 2nd home – Rental Income Property

What if I have a non-occupant co-Borrower with poor credit, What To Do???

That’s it, I’m looking to refinance. Initially quoted me a 30-year fixed at 6.5% in March, but when the underwriters got through with me it was a 30-year interest-only with 8.25%. Not happy! Nevertheless, my lender – LendingTree.com- grants returning customers a refinance at NO costs.
The general situation is here. Any advice appreciated.
I owe CC debt approx $60K (AVG. APR 6.5%)
I have Interest only Home loan (8.25% $366K, 100% financing)
I earn 7K/month
Net Current monthly liabilities $6,200 (cc payments, mortgage, insurance, etc)
I have cash of $20K
Credit score 680

What to do with the cash? Am I to pay off some of my CC debt to boost my credit score or make a down payment to get a better mortgage? How about buying points, and which way is the lending market looking to go within the next 6 months?

I have an auto loan in my name for my wife’s vehicle. My question is that the loan is about 2 years old and down to about 11,000 owed. Do I refinance now with my credit union?

Chicago, Illinois branded as the top three city in the .United States.

https://youtu.be/BhgSz7XF_K0?si=VeC5qr39Uc8Yxnlf

What is domain authority and domain rankings. What is Spam score and back link? What are toxic back links?

Veterans and Credit Mix: Diversifying the Financial Portfolio

Welcome to Day 17 of our series, where we continue to aid our valiant veterans in their voyage through the world of civilian credit. Today’s focal point is credit mix—a somewhat lesser-known yet integral component of credit health.

Deciphering Credit Mix: More than Just Cards

Credit mix pertains to the various types of credit accounts you hold, such as credit cards, mortgages, installment loans, and retail accounts. It accounts for about 10% of your FICO score. A diverse credit mix can demonstrate your ability to manage different kinds of credit responsibly.

Why Credit Mix Matters for Veterans

For veterans who might have been away from mainstream financial systems during active duty, understanding and building a diverse credit mix can be instrumental in establishing a robust credit profile in civilian life.

Strategies for a Healthy Credit Mix

• Start with the Basics: If you’re new to credit, begin with a credit card or a small installment loan, ensuring timely repayments.

• Consider Diversified Borrowing: Over time, if you find the need for larger loans (like auto or home loans), these can enhance your credit mix.

• Avoid Unnecessary Debt: While diversifying is good, taking on debt unnecessarily just to “mix it up” is not advisable. Only borrow what you need and can repay.

• Seek Secured Options: For veterans finding it challenging to get approved for traditional credit, secured credit cards or loans can be a stepping stone to building a credit mix.

Veteran-Centric Viewpoints on Credit Mix

• Leveraging VA Loans: Veterans have the unique advantage of VA loans for home purchases. This can be a valuable addition to your credit mix while offering better terms than conventional loans.

• Utilizing Military Lending Options: Some credit unions and banks cater specifically to military members and veterans. Exploring these can offer avenues to diversify your credit types.

• Financial Transitioning After Service: Post active duty, there may be opportunities to engage with various credit types. This transition phase can be an opportune time to thoughtfully diversify credit.

Challenges in Building a Diverse Credit Mix

• Overextension: While seeking a varied credit mix, there’s a risk of overextending financially. Always be cautious of your capacity to manage and repay debt.

• Misconceptions: Some may believe that having several credit cards equates to a good credit mix. In reality, diversification across different types of credit is what counts.

• Short-Term Score Drops: Initially, when you open a new credit type, there might be a slight drop in your score due to hard inquiries. However, in the long term, responsible management of the new credit can be beneficial.

Credit Mix in the Grand Financial Symphony

A diverse credit mix, while influential, is one instrument in the grand orchestra of credit health. It needs to harmonize with other components like payment history, credit utilization, and credit inquiries to produce a favorable credit score.

Concluding Day 17: Charting the Course with Diversified Financial Instruments

In the vast ocean of credit, having a diversified fleet of financial instruments can aid in navigating turbulent waters. For our veterans, understanding the value of a varied credit mix is akin to understanding the significance of varied skills and tactics on the battlefield.

As we culminate today’s segment, our unwavering goal shines bright: to arm our nation’s heroes with comprehensive financial knowledge, allowing them to sail smoothly through their civilian financial journey.

Stay tuned for Day 18, where we’ll dive deeper, unearthing more facets of credit and finance, ensuring our veterans are always a step ahead in their financial quests.

What do mortgage underwriters ask for CPA letters from self-employed borrowers?

• This discussion was modified 2 years, 4 months ago by  Gustan Cho.

What credit score model do mortgage lenders use? Is VantageScore so much higher than FICO? Do Mortgage Lenders Check FICO or Vantage? For the majority of lending decisions do most lenders use your FICO score? And which type of FICO score? FICO 2, 4, 8?

How far off is VantageScore from FICO? What FICO or Vantage Score Model does FHA, VA, USDA, FANNIE MAE, FREDDIE MAC, and Non-QM mortgage loans use? What is a good FICO score to get a mortgage?

• This discussion was modified 1 year, 9 months ago by  Gustan Cho.

California Governor Gavin Newsom vetoes bill that would have given undocumented immigrants access to home loans. Can you please explain the $150,000 Housing Grant Bill to undocumented immigrants in California?

https://www.foxla.com/news/newsom-vetoes-bill-housing-loans-illegal-immigrants

• This discussion was modified 1 year, 9 months ago by  Gustan Cho.

foxla.com

Newsom vetoes controversial bill that would have given housing loans to illegal immigrants

California Gov. Gavin Newsom vetoed a controversial bill that would have given hundreds of thousands of dollars in housing loans to illegal immigrants.

How does the $25,000 down payment homebuyer federal grant work? Kamala Harris has been a hypocrite and has a history of lying. Kamala Harris is very vague on the $25,000 down payment grant for homebuyers. Anyone have specifics. Harris has a reputation of promising a lot of things but never explains it in detail.

I have seen so many cases where home builders will offer seller or builder’s concession towards closing costs of $10,000 or more only if the homebuyer uses the home builder’s preferred mortgage lender. If the homebuyer uses the buyer’s own mortgage lender and loan officer, the home builder will not offer any seller concession towards closing costs. To up the ante, the home builder also will offer incenstives such as upgrades to homebuyers who use the home builder’s preferred lender. Isn’t this illegal? Isn’t this a case of steering? Why isn’t the CFPB, HUD, and state and federal mortgage regulators jumping in on this. I am sure the preferred lender is giving the home builder a kickback which is an absolute violation of RESPA and mortgage fraud. I archived this article about Home Builders Steering Buyers To Builder’s Preferred Lenders and I suggest you folks read it and save it on your archives. I use it for reference.

https://gcamortgage.com/preferred-lenders-steered-by-builders/

gcamortgage.com

Should I Use Preferred Lenders Steered By Builders

Homebuyers who go with preferred lenders steered by builders get incentives such as builder upgrades, closing cost credits, and upgrades