By ERIN FLYNN JAY If you are looking for a home and don’t have 20% to put down, you are not alone. According to the National Association of Realtors, the typical down payment for first-time buyers is 8%. For repeat buyers, it’s 19%. And for 38% of first-time buyers, saving for a down payment was…
Mortgage applications rose again despite rates moving slightly up last week. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – jumped 3.7%, adding to the week prior’s 10.4% spike. Adjusted purchase applications rose by 8%, while the unadjusted index increased by 3% and…
CBC Mortgage Agency is now offering USDA loans for borrowers in rural areas, the company announced in a press release. The U.S. Department of Agriculture has approved CBCMA to provide USDA 30-year mortgages for borrowers outside of urban and suburban areas. These loans offer 100% financing, so the company’s correspondent lenders can now help low-…
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