More than $1 trillion in home equity shed during third quarter
Reading Time: 2 minutesThe stark and ongoing home price correction in the residential real estate market has led to U.S. mo… Continue reading this article with a Scotsman Guide subscription Limited-time offer $4.59/week SUBSCRIBE NOW Already a subscriber? Log in
NAR: Share of home purchases made by first-time buyers falls to record low
Reading Time: 2 minutesIn 2022, the share of home purchases made by first-time buyers fell to its lowest point since the Na… Continue reading this article with a Scotsman Guide subscription Limited-time offer $4.59/week SUBSCRIBE NOW Already a subscriber? Log in
Industry Watch: Rocket adds manufactured home loans, new branches for Geneva and CMG, and more
Reading Time: < 1 minuteGeneva Financial announced the opening of a new branch in Anchorage, Alaska, the newest state t… Continue reading this article with a Scotsman Guide subscription Limited-time offer $4.59/week SUBSCRIBE NOW Already a subscriber? Log in
Jumbo Loans
Reading Time: 2 minutesJumbo mortgage loans are loans with amounts that exceed the maximum amount that Fannie Mae and Freddie Mac will buy. There are different loan thresholds for VA jumbo loans, as well as FHA and USDA.
Investment Property Loans
Reading Time: 3 minutesInvestment property loans are used for the purchase of non-primary residences with the intent of earning a return on the investment.
Hotel and Motel Loans
Reading Time: 2 minutesA hotel or motel loan is a type of commercial mortgage that liens a specific classification of hospitality property.
Golf Course Loans
Reading Time: 2 minutesA commercial golf course loan is a mortgage that finances a golf course. Golf courses are categorized as a type of entertainment/recreational property under the commercial umbrella.
Gas Station Loans
Reading Time: 2 minutesGas stations are a type of retail property that resides under the larger umbrella of commercial properties. Lenders offer gas station loans for purchase, refinance and refinance with cash-out.
Foreign National and ITIN Mortgages
Reading Time: < 1 minuteITIN and DACA recipients are able to obtain a variety of nonqualified mortgages through private lenders that will either service the loans in their own portfolio or sell them on the secondary market.
Fix and Flip Loans
Reading Time: 2 minutesThe term “fix and flip loans” refers to financing given to a buyer renovating a distressed residence with the purpose of selling it.
