As mortgage rates are locking homeowners in their current houses, many are investing in renovations rather than moving. A new survey from LendingTree found that 68% of homeowners started or completed a home improvement project in the last 12 months, while 63% plan to begin one in the next year. Interior painting, landscaping, and bathroom…
The Community Home Lenders of America and National Association of REALTORS sent a letter to the Federal Housing Administration offering advice on the 203(k) loan program. Section 203(k) insurance enables allows homebuyers to pay for both a house and the cost of its renovation through a single mortgage. It applies to refinances as well, so…
Inflation is forcing homeowners to put renovations on the back burner, but most would still rather renovate than move. Nearly 60% of respondents to a new survey from Discover Home Loans said they are postponing their renovation projects as projects become more expensive than their budgets. Another 26% will reduce the scope of their projects…
By KIMBERLEY HAAS New data shows that 79% of Americans would rather renovate their current home than move to a different one and with $420 billion spent on remodeling projects in 2020 those in the mortgage, real estate, and building industries are taking notice. Discover Home Loans commissioned a national survey of 1,531 homeowners. The…
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