Ally Home and HouseCanary are offering a $5,000 grant to homebuyers in three major metros.
The grant can be used for a down payment, closing costs, or other expenses that arise during the homebuying process.
Buyers within select markets in Charlotte, Detroit, and Philadelphia are eligible, though Ally may expand the program in the future. Eligible buyers must have an income less than or equal to 100% of the area median income and be purchasing a primary residence.
Grantees can combine this award with other offerings like the Fannie Mae HomeReady Mortgage program, which lets buyers put as little as 3% down.
As part of the rollout, HouseCanary, Ally’s portal partner since last year, now identifies grant-eligible properties in the…
Powerbuyer Ribbon, now owned by sale-leaseback platform EasyKnock, is reintroducing its all-cash offer product to Atlanta and Charlotte.
RibbonCash offers temporary financing for cash offers, a powerful model during the housing boom that allowed it to expand to multiple states. But last year brought two rounds of serious staff cuts, with the company retaining only 30 employees by November 2022.
It suspended new RibbonCash financing at that time as well.
EasyKnock purchased Ribbon in May 2023, saying it would speed up the development of its buyer-seller marketplace, slated to launch later this year. The marketplace will connect sellers to both institutional and individual buyers, giving EasyKnock access to another sector of the housing market. It currently caters to existing homeowners.…
By KIMBERLEY HAAS
Craving some sunshine? You are not alone as the migration to the Sun Belt continues past the pandemic.
Data from U-Haul and North American Van Lines shows that the Carolinas, Florida, and Texas were among the top inbound states for migration last year. That trend is expected to continue.
And as the state of North Carolina sees an influx of new residents, the coastal city of Wilmington has been attracting accolades. It was listed as the second best place to live in North Carolina by Forbes Advisor last fall, coming in after Raleigh, the state’s capital.
In January, the median listing home price in Wilmington was $435,700, trending up 18.1% year-over-year. The median home sold price was…
By KIMBERLEY HAAS
Programs that support ownership of multifamily properties are estimated to make up almost 30% of homebuyer assistance offerings and that may present unique opportunities in markets strapped for inventory.
According to the Down Payment Resource’s Homeownership Program Index, 33 new programs supporting multifamily homebuyers and builders were added in Q4 2022.
Multifamily programs now make up 29.3% of all available assistance offerings, a 5.5% increase over Q3 2022, according to the index.
Sean Moss, executive vice president of product and operations at Down Payment Resource, told The Mortgage Note that even first-time homebuyers can qualify for down payment assistance and become both an owner and a landlord at the same time.
Moss said the buyer receiving the…
By CHUCK GREEN Now, how about a little, um, pop-up pop quiz? You. Put…the…iPhone….down. Okay, then. What did Marilyn Monroe. Elizabeth Taylor and, oh, say, Tennessee Williams, have in common? Whether compelled by business reasons — or simply because it was how they rolled – the trio lived in hotels. Probably beat the price of real estate. Even back then. Even for them. Seems they were onto something. Today, at least temporarily, a number of individuals – you know, us regular joes – also call hotels or motels la casa. Perhaps they’re working on location for a relatively limited time on a short-term out-of-town job and, given the paucity of housing in many parts of the United States, other accommodations…
By KIMBERLEY HAAS Analysts at Zillow have made their predictions for the hottest housing markets of 2022, and we are bringing you a look at the most expensive homes in the top five cities listed. On Tuesday, the Seattle-based company predicted Tampa, Florida, will be the hottest housing market of 2022. NFL Quarterback Tom Brady’s new city is followed by Jacksonville, Florida; Raleigh, North Carolina; San Antonio, Texas; and Charlotte, North Carolina. “Homebuyers are attracted to markets in the Sun Belt that offer relative affordability, fast-growing economies, and weather that allows them to enjoy the outdoors year-round,” Zillow economist Alexandra Lee said in a statement. Lee also predicts the seller’s market seen in 2021 will continue and buyers should be ready…
