Not Just Startups Anymore: Lenders Are Helping Buyers Make All-Cash Offers, Too
Cash-offer startups like Ribbon and HomeLight are facing competition from traditional lenders in search of homebuyers.
September 28, 2022 6 MIN
Cash-offer startups like Ribbon and HomeLight are facing competition from traditional lenders in search of homebuyers.
Early autumn is the "sweet spot" for people looking to buy a home, according to Realtor.com.
“A surprising bounce back in new-home construction is welcome,” said Lawrence Yun, chief economist of the National Association of Realtors.
There are options for mortgage borrowers who don't meet the credit score standards for traditional home loans.
Home equity lending is soaring as higher interest rates caused demand for other types of home loans to soften.
The average sale-to-list-price ratio fell to 99.8% in August, the first time it has been below 100% since March 2021, Redfin said.
Buyers are flocking to the lowest-priced homes in many markets, according to a Zillow report.
Homebuyers have started to back out of some real estate deals as a slowing market gives them more power to negotiate.
Homebuyers have shifted searches to include cities that are cheaper, allowing their monthly mortgages to fit better within their budgets.
Despite the importance of lining up financing, fewer than 1 in 10 buyers begin the process by contacting a bank, mortgage lender or broker.
