FT Mortgage Cos., Dallas, is introducing a credit card that the borrower can use to make a downpayment on a mortgage.The Downpayment Card acts as a normal Visa card. When a person applies for a loan at any of the FT affiliates, he or she can simultaneously apply for the card. The card can be used to get a cash advance to get the funds needed. No cash out of pocket is needed for a downpayment on a 95%-97% loan-to-value ratio mortgage. In effect, the borrower is getting 100% financing. After the loan closes, the card can be used like any other Visa card.
-
Lumber retains protections for now, but construction stocks still fell, and while the initial market reaction lowered rates, there could later be a reversal.
3h ago -
While prices are still rising, an increase in reductions from listing suggests sellers are adjusting to the new reality for home buying this season.
4h ago -
Homebuyers would be able to take advantage of streamlined finance options, folding energy infrastructure costs with their mortgages, the companies said.
5h ago -
The bank said it will appeal the judge's ruling, which it suggested would have a chilling effect on lenders participating in such government programs.
5h ago -
Jonathan Gould, President Donald Trump's pick to lead the Office of the Comptroller of the Currency, passed through the Senate Banking Committee on a party-line 13 to 11 vote.
7h ago -
United Wholesale Mortgage led its industry peers in total origination volume, though Rocket Mortgage and Crosscountry weren't that far behind.
7h ago