Buyers Expect Fewer New Homes For Sale In 2019 - Today's Mortgage & Real Estate News

Buyers Expect Fewer New Homes For Sale In 2019 - Today's Mortgage & Real Estate News. Mortgage Rates Just Crashed. I Explain Why

Buyers Expect Fewer New Homes For Sale In 2019 - Today's Mortgage & Real Estate News video duration 2 Minute(s) 58 Second(s), published by Growella on 20 07 2018 - 17:11:03.

https://growella.com/mortgage/ ▻ Today's mortgage and real estate news: (1) Housing Starts fell sharply in June as builders work through their existing housing https://growella.com/mortgage/ ▻ Today's mortgage and real estate news: (1) Ellie Mae reports that lenders now need 42 days to close on a mortgage, on .

Mortgage rate update for September 28th 2018
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https://growella.com/mortgage/ ► Today's mortgage and real estate news: (1) Housing Starts fell sharply in June as builders work through their existing housing developments; (2) Today's mortgage rates, plus the 5-day trend in rates; (3) A Fannie Mae study shows that 23% of renters become home buyers within two years of getting a cash gift of $5,000 or more.

FROM THIS EPISODE
A study via Fannie Mac shows that Millennials who rent, when they're given a cash gift from a parent of at least five thousand dollars, within two years of the gift, the renter's likelihood of buying a home increases twenty-three percent. The gift doesn't even need to be specifically meant for a home. It's any gift of cash, for any reason. And, it hints at today's renters' desire to stop renting and start owning. But when you get a gift and it's cash, plan ahead if you plan to use it for down payment. Because lenders have rules for cash gifts and how to receive them. You'll need a paper trail, as one. The giver should write a check and scan a copy. The receiver should deposit that check in it's own transaction, to match the dollar figure provided. The giver should draft a letter to attest the gift is a gift and not a loan. Both parties should sign it. The receiver of the gift should make sure the lender knows a gift's being used in the purchase. Things like this. Cash gifts are common and your lender has a process.

Jump to the following:
(00:13) Housing Starts data for June 2018
(01:36) Current mortgage rates and the 5-day trend
(01:58) Cash down payment gift rules and guidelines

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