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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

Department of Housing and Urban Development and the Department of Veterans Affairs released new guidance, changing their previous positions, now widely allowing residential Property Assessed Clean Energy (PACE) financing. lien) superior to the FHA-insured mortgage for the full outstanding PACE obligation at any time (i.e.,

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Climate Emergencies Are Pushing Insurance Rates Higher for Migrating Retirees

Pro Builder

Climate Emergencies Are Pushing Insurance Rates Higher for Migrating Retirees. Homes at risk of extreme weather emergencies are becoming harder to insure, forcing some homeowners to accept higher rates, and leaving others entirely without coverage. Insurance experts who work farther up the East Coast report similar market conditions.

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Biden Announces New Plan to Help Homeowners Save on Mortgage Costs

Pro Builder

Under the new initiative, the Federal Housing Administration will reduce mortgage insurance premiums by 0.3 percentage points to 0.55% for FHA-insured mortgages. Under the new initiative, the Federal Housing Administration will reduce mortgage insurance premiums by 0.3

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FHA Introduces Plan to Help Mortgage Borrowers With Monthly Payments

Pro Builder

Using its insurance fund, the FHA plans to pay part of the homeowners' monthly bills, then structure the repayment as a second loan due after the first is paid off, Realtor.com reports. Read more Housing Policy + Finance Financing Financing The program currently has about 320,000 seriously delinquent borrowers.

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Housing Affordability Pyramid Breaks Down a Growing Affordability Crisis

Pro Builder

Housing Affordability Pyramid Breaks Down a Growing Affordability Crisis. housing affordability pyramid, and that number could continue to grow as home prices reach new highs. million, forming the upper extreme of a disproportionate affordability pyramid, according to NAHB’s Eye on Housing. Housing Policy + Finance.

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Mortgage Lender Predictions for 2022

Pro Builder

From the biggest market disruptors to housing legislation, here’s what mortgage lenders are expecting in 2022. Mortgage lenders also predict that affordable housing will be the most important legislative priority of 2022 in an ultra-competitive market driving up prices. Housing Markets. Mortgage Lender Predictions for 2022.

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98% of Borrowers Have a Below-Market Mortgage Rate They Refuse to Give Up

Pro Builder

On a $500,000 loan with a 30-year, fixed rate at 2.62%, monthly mortgage payments—excluding taxes and insurance—equal roughly $2,007, but with those same circumstances but at a 7% rate, monthly mortgage payments surge to around $3,327. Read more Financing Affordability Market Data + Trends Financing

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