Loan amount – John Hesch http://johnhesch.com/ Sun, 12 Jun 2022 18:48:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://johnhesch.com/wp-content/uploads/2021/07/icon-150x150.png Loan amount – John Hesch http://johnhesch.com/ 32 32 Transformed images of man circulated despite paying back double amount of loan | Bombay News https://johnhesch.com/transformed-images-of-man-circulated-despite-paying-back-double-amount-of-loan-bombay-news/ Sun, 12 Jun 2022 18:48:56 +0000 https://johnhesch.com/transformed-images-of-man-circulated-despite-paying-back-double-amount-of-loan-bombay-news/ Mumbai: After giving in to loan application scammers three times, a 39-year-old advertising executive filed a case at Meghwadi police station on Saturday against unidentified individuals for harassing him over loans that took him been granted without his will. The complainant had paid double the amount of the loan deposited in his account by the […]]]>

Mumbai: After giving in to loan application scammers three times, a 39-year-old advertising executive filed a case at Meghwadi police station on Saturday against unidentified individuals for harassing him over loans that took him been granted without his will.

The complainant had paid double the amount of the loan deposited in his account by the fraudsters after being threatened with serious consequences if he did not repay. However, after the third case, when the man’s relatives and friends received a message with an obscene metamorphosed photograph accusing him of raping a 15-year-old girl, the man was brave enough to report the same. to the police.

The complainant, a resident of Jogeshwari, said in his statement that on May 22, he applied for a loan from the “Honey loan app” for 3,300. He had repaid it with interest but the next day a sum of 4,400 were deposited into his account.

Asking the loan application officers why he was given the money, the officers did not respond and threatened him to pay 8,000. The man paid the amount but a day later again 5,500 was deposited into his account and he was asked to repay 10,000. Paying this back, he received 6,600 and told to pay back 12,000, which he did.

According to the victim, the harassment didn’t stop there and on Friday all his contacts, including family, friends and colleagues, received the message claiming he was a rapist and that the police were looking for him. The victim who could not take it anymore then decided to go to the police and file an FIR against the officers of the loan application.

“We have registered a case and are tracking the accused through their WhatsApp numbers,” said a police officer from Meghwadi police station.

Officers said the victim told them he had received threatening and blackmail calls from seven mobile numbers of officers who had extorted money from him.

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SBI Student Loan: Amount Offered, Interest Rate, Processing Fee, Features, Benefits, Courses Covered in India, Abroad & More https://johnhesch.com/sbi-student-loan-amount-offered-interest-rate-processing-fee-features-benefits-courses-covered-in-india-abroad-more/ Tue, 24 May 2022 11:34:00 +0000 https://johnhesch.com/sbi-student-loan-amount-offered-interest-rate-processing-fee-features-benefits-courses-covered-in-india-abroad-more/ SBI student loan is a term loan granted to Indian nationals to pursue higher education in India or abroad where admission has been guaranteed. This loan offers a personalized financing solution for students – who are on their way to transforming the future of India. Here is all you need to know about the SBI […]]]>

SBI student loan is a term loan granted to Indian nationals to pursue higher education in India or abroad where admission has been guaranteed. This loan offers a personalized financing solution for students – who are on their way to transforming the future of India. Here is all you need to know about the SBI Student Loan Amount Offered, Interest Rate, Processing Fee, Features, Benefits, Courses Covered and more:-

Courses covered:

For studies in India:

· Graduation, Post-Graduation, including regular Technical and Vocational Diploma/Diploma courses from UGC/AICTE/IMC/Govt approved colleges/universities. etc Regular degree/diploma courses provided by autonomous institutions such as IIT, IIM, etc.

Teacher training/nursing courses approved by central government or state government

· Regular courses leading to a degree/diploma like aeronautics, pilot training, navigation, etc. approved by Director General of Civil Aviation/Navigation/Relevant Regulatory Authority

For studies abroad:

Job oriented professional/technical graduation courses/post-graduation courses and degrees such as MCA, MBA, MS, etc. offered by reputable universities.

· Courses provided by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in the United States, etc.

Features and Benefits:

· Lower interest rates

Concession of interest for female students

No collateral for loans up to Rs. 7.5 million

No processing fees for loans up to Rs. 20,000,000

Reimbursement will start one year after course completion

Repayment period up to 15 years after course period + 12 months repayment holiday

In case the second loan is used for higher education, students after completing the second course, can repay the combined loan amount in 15 years

No margin for loans up to Rs. 4,000,000

Amount of the loan:

Students can avail this loan of up to Rs. 50 lakh for study in India and up to Rs. 1.50 crores for study abroad

Interest rate:

Effective interest rate – 8.65%

0.50% interest reduction for female students

Processing fee:

Loans up to Rs. 20 lacs – Nil

Loans above Rs.20 lakh – Rs.10,000 (plus taxes)

Collateral:

For loans up to Rs.7.5 lakh – None

For loans above Rs.7.5 lakh – Tangible Collateral

Expenses covered by the SBI student loan:

Fees payable to college/school/hostel

Exam/library/laboratory fees

Purchase of books/equipment/instruments/uniforms, purchase of computers – essential to complete the course (maximum 20% of total tuition fees payable to complete the course)

Security deposit/building fund/refundable deposit (maximum 10% of tuition fee for the entire course)

Travel expenses/passage money for study abroad

Cost of a two-wheeler up to Rs. 50,000/-

All other expenses necessary to complete the course such as study trips, project work, etc.

Link to website for required documents and more details – https://bank.sbi/web/personal-banking/loans/education-loans/student-loan…

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SBI Student Loan: Additional Interest Grant for Girls, Check Loan Amount, Features and Other Details | Personal finance news https://johnhesch.com/sbi-student-loan-additional-interest-grant-for-girls-check-loan-amount-features-and-other-details-personal-finance-news/ Tue, 24 May 2022 06:31:07 +0000 https://johnhesch.com/sbi-student-loan-additional-interest-grant-for-girls-check-loan-amount-features-and-other-details-personal-finance-news/ New Delhi: State Bank of India (SBI) offers student loan to Indian citizens who wish to pursue higher education in India or abroad. The SBI student loan is granted for courses covered for study in India and abroad. Features and Benefits of SBI Student Loan · Lower interest rates Concession of interest for female students […]]]>

New Delhi: State Bank of India (SBI) offers student loan to Indian citizens who wish to pursue higher education in India or abroad. The SBI student loan is granted for courses covered for study in India and abroad.

Features and Benefits of SBI Student Loan

· Lower interest rates

Concession of interest for female students

No collateral for loans up to Rs. 7.5 million

No processing fees for loans up to Rs. 20,000,000

Reimbursement will start one year after course completion

Repayment period up to 15 years after course period + 12 months repayment holiday

In case the second loan is used for higher education, students after completing the second course, can repay the combined loan amount in 15 years

No margin for loans up to Rs. 4,000,000

SBI student loan amount:

Students can avail this loan up to Rs 50 lakh for study in India and up to Rs 1.50 crores for study abroad

SBI Student Loan Interest Rate:

Effective interest rate – 8.65%
0.50% interest reduction for female students

SBI Student Loan Processing Fee:

Loans up to Rs. 20 lacs – Nil
Loans above Rs.20 lakh – Rs.10,000 (plus tax)

SBI Student Loan Guarantee:

For loans up to Rs.7.5 lakh – None
For Loans Above Rs.7.5 lakh – Tangible Collateral

Expenses covered by the SBI student loan:

Fees payable to college/school/hostel
Exam/library/laboratory fees
Purchase of books/equipment/instruments/uniforms, purchase of computers – essential to complete the course (maximum 20% of total tuition payable to complete the course)
Security deposit/building fund/refundable deposit (maximum 10% of tuition fees for the entire course)
Travel costs/passage money for study abroad
Cost of a two-wheeler up to Rs. 50,000/-
All other expenses necessary to complete the course, such as study trips, project work, etc.

SBI Student Loan Eligibility:

SBI student loan is offered for graduation, post-graduation, including regular technical and vocational diploma/diploma courses from colleges/universities approved by UGC/AICTE/IMC/Govt. etc Regular degree/diploma courses provided by autonomous institutions such as IIT, IIM, etc. Teacher training/nursing courses approved by central government or state government. It also covers regular degree/diploma courses like aeronautics, pilot training, navigation, etc. approved by Director General of Civil Aviation/Navigation/Relevant Regulatory Authority.

While for study abroad, SBI student loan is granted for vocational/technical graduation courses/post-graduation and degree courses such as MCA, MBA, MS, etc. offered by reputable universities. Courses provided by CIMA (Chartered Institute of Management Accountants) – London, CPA (Certified Public Accountant) in the United States, etc. are also included.

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Get the loan amount in your account in 30 minutes https://johnhesch.com/get-the-loan-amount-in-your-account-in-30-minutes/ Sun, 22 May 2022 07:00:00 +0000 https://johnhesch.com/get-the-loan-amount-in-your-account-in-30-minutes/ India’s largest private sector lender, HDFC Bank, has recently launched a new ‘Xpress Car Loans’ service, which promises a 30-minute car loan to all existing and new customers. HDFC bank claimed that this is the first time a service like this has been introduced in India. In a press release, the bank said it has […]]]>

India’s largest private sector lender, HDFC Bank, has recently launched a new ‘Xpress Car Loans’ service, which promises a 30-minute car loan to all existing and new customers. HDFC bank claimed that this is the first time a service like this has been introduced in India.

In a press release, the bank said it has integrated its lending app with car dealerships across the country for this service and the bank expects this service to revolutionize the way auto financing is done. in the country.

HDFC Bank has created a comprehensive, faster, more convenient and inclusive digital journey for car buyers, the lender said.

This will make the car buying process and boost car sales across the country, including in semi-urban and rural areas, less complicated and quick. Before the launch of the HDFC Bank Xpress car loan facility, the bank and other lenders usually took about 48-72 hours to process a car loan for borrowers.

HDFC Bank has projected that 20-30% of customers (for loans up to Rs 20 Lakh) are likely to benefit from this facility at the start. This installation is currently offered for four-wheelers. It will be gradually rolled out for two-wheel credits as well.

Arvind Kapil, Country Head, Retail Assets, at HDFC Bank on the Lenders Express Car Loan Service, said HDFC Bank has been a pioneer in digital innovations. He also added that “Now we are stepping up our efforts by launching an end-to-end digital car loan solution for existing customers as well as new customers. Xpress Car Loans by HDFC Bank, will be an industry defining car loan journey. It will be available at all of our branches, concessions and eventually on third-party aggregator platforms.”

After real estate loans, generally come auto loans. “Although the automotive ecosystem has evolved, there is still a significant opportunity to unlock value for customers – especially in semi-urban and rural India), by transforming the customer experience. Digital is a mode of life for us at HDFC Bank, and we are confident that it can shift our trajectory from incremental growth to exponential growth,” Kapil added when talking about the HDFC Bank Xpress car loan.

India’s auto industry is expected to become the third largest in the world over the next five to seven years with 35 million new vehicle units per year in sales. In about a decade, we’ll probably see over 350 million 4-wheelers and over 250 million 2-wheelers hitting the road in the country.

Also Read: Do You Have Now? The most expensive car in the world sold at auction was at 143 million dollars (around Rs 1,100 cr)

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Apply and get the loan amount in your account in 30 minutes! HDFC Bank launches XPress auto loans https://johnhesch.com/apply-and-get-the-loan-amount-in-your-account-in-30-minutes-hdfc-bank-launches-xpress-auto-loans/ Sat, 21 May 2022 10:43:08 +0000 https://johnhesch.com/apply-and-get-the-loan-amount-in-your-account-in-30-minutes-hdfc-bank-launches-xpress-auto-loans/ Auto Loan Xpress is a simplified and intuitive way to get a car loan and makes the process much more comprehensive, quick and convenient for car buyers. Buyers can use the Xpress car loan to apply for up to Rs 20 lakh and the loan amount will be credited to dealers’ accounts within half an […]]]>

Auto Loan Xpress is a simplified and intuitive way to get a car loan and makes the process much more comprehensive, quick and convenient for car buyers. Buyers can use the Xpress car loan to apply for up to Rs 20 lakh and the loan amount will be credited to dealers’ accounts within half an hour. According to HDFC Bank, this program will also boost car sales across the country, including in semi-urban and rural areas.

About 82% of all cars purchased in India are financed and if you have ever taken out a car loan, you know how long and tedious the process is. So, to help customers solve this problem, the country’s largest private sector bank, HDFC Bank, recently launched the industry’s first 30-minute Xpress car loan. This newly launched car loan program is an end-to-end digital solution that can be used by existing HDFC Bank customers as well as non-customers. The bank has partnered with car dealerships across the country to integrate its financing program. According to HDFC Bank, this industry-first facility is set to change the way the country finances automobiles.

Arvind Kapil – Country Head, Retail Assets, HDFC Bank, on announcing the new ‘Xpress Car Loan’ said, “HDFC Bank has been a pioneer in digital innovations, ‘Now we are stepping up by launching a digital car from end-to-end lending solution for existing customers as well as new customers. Xpress Car Loans by HDFC Bank, will be an industry defining car loan journey. It will be available at all our branches, dealerships and eventually on third party aggregator platforms. »

He added, “Although the automotive ecosystem has evolved, there is still a significant opportunity to unlock value for customers, especially in semi-urban and rural parts of India), by transforming the experience customer. Digital is a way of life for us at HDFC Bank, and we believe it can shift our trajectory from incremental growth to exponential growth,”

With 35 million new vehicles sold every year, India’s automotive sector is on track to become the third largest in the world within the next 5-7 years. It is also expected that within a decade or so more than 350 million four-wheeled vehicles and over 250 million two-wheeled vehicles will enter public roads.

Earlier in March this year, the country’s largest automaker, Maruti Suzuki India Limited, launched the Smart Finance program for NEXA and ARENA customers. Through Maruti Suzuki Smart Finance, NEXA and ARENA customers can access pre-approved and personalized car loans with a choice of several financiers, just like the HDFC Bank Xpress car loan.

Maruti Suzuki Smart Finance is also an end-to-end online car finance solution for NEXA and ARENA customers. It is designed to help customers access car loans from 16 Financiers at competitive interest rates and through a 100% digital and paperless process.

The list of Maruti Suzuki Smart Finance program financiers includes State Bank of India, HDFC Bank, Mahindra Finance, Indusind Bank, ICICI Bank, Cholamandalam Finance, Axis Bank, Bank of Baroda, Kotak Mahindra Prime, Sundaram Finance, AU Small Finance Bank, YES Bank, HDB Financial Services, Toyota Financial Services (India), Federal Bank and Karur Vysya Bank.

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Refinance closing costs remain at less than 1% of loan amount in 2021 – NMP https://johnhesch.com/refinance-closing-costs-remain-at-less-than-1-of-loan-amount-in-2021-nmp/ Mon, 09 May 2022 14:33:29 +0000 https://johnhesch.com/refinance-closing-costs-remain-at-less-than-1-of-loan-amount-in-2021-nmp/ Refinancing fees in 2021 were less than 1% of loan closing costs. This was well below the closing costs of buying. The second annual CoreLogic Refinance Closing Costs Report indicates that the national average closing costs for a single family home refinance in 2021, excluding any type of registration or other specialized tax, was $2,375. […]]]>

Refinancing fees in 2021 were less than 1% of loan closing costs. This was well below the closing costs of buying.

The second annual CoreLogic Refinance Closing Costs Report indicates that the national average closing costs for a single family home refinance in 2021, excluding any type of registration or other specialized tax, was $2,375. $. That was up $88, or 3.8%, from 2020. The average refinance loan size was $304,909 in 2021.

“In 2021, homeowners could still get great deals on interest rates and closing costs,” said Bob Jennings, director of CoreLogic Underwriting Solutions. “Although refinancing closing costs have increased slightly, annual fee increases remain below the average inflation rate of 7% seen in 2021. Much of the cost containment can be attributed to the growing use of solutions technologies by lenders and settlement service providers, which has allowed the industry to increase capacity while containing closing costs.” CoreLogic, a provider of data and technology on financial Real Estate for the Mortgage and Real Estate Services industries said the national average purchase closing cost was $3,860, excluding transfer and special taxes, representing a 13.4% increase from 2020 .

The main differences between average closing costs for refinances and home purchases are that homeowner’s title insurance and several common inspection fees for purchase transactions are generally not required for refinances, according to CoreLogic. Yet most third-party fees, including lender title, settlement service, and surveying, were also lower for refinances.

The 2021 report shows that the states with the highest average closing costs, excluding specialty taxes, were Hawaii ($4,730), New York ($4,679), Florida ($3,956), Texas ($3,588 $) and the District of Columbia ($3,370).

The states with the highest closing costs, including taxes, were New York ($10,084), Pennsylvania ($7,614), Delaware ($7,223), Florida ($5,821) and California ( $5,762).

At the metro level, those with the highest average fees without taxes include Key West, Florida ($4,922); Arcadia, Florida ($4,756) and Kahului-Wailuku-Lahaina, Hawaii ($4,651).

Refinance cost calculations include the lender’s title policy, appraisal, settlement, registration fees, and various state and local taxes. The calculations use home price data from CoreLogic to estimate closing costs for an average home at the state, Central Statistical Area (CBSA), and county levels. Ranges, rather than single values, are used to more accurately capture fees associated with actual transactions.

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Refinancing Closing Costs Remain Below 1% of Loan Amount in 2021, CoreLogic’s ClosingCorp Reports | Your money https://johnhesch.com/refinancing-closing-costs-remain-below-1-of-loan-amount-in-2021-corelogics-closingcorp-reports-your-money/ Mon, 09 May 2022 12:02:26 +0000 https://johnhesch.com/refinancing-closing-costs-remain-below-1-of-loan-amount-in-2021-corelogics-closingcorp-reports-your-money/ IRVINE, Calif.–(BUSINESS WIRE)–May 9, 2022– CoreLogic’s ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its second annual Refinance Closing Cost Report. for 2021. This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220509005114/en/ Table 1: Average Closing Costs […]]]>

IRVINE, Calif.–(BUSINESS WIRE)–May 9, 2022–

CoreLogic’s ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its second annual Refinance Closing Cost Report. for 2021.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220509005114/en/

Table 1: Average Closing Costs by State (Graph: Business Wire)

Key points to remember

  • The national average closing cost for refinancing a single family home in 2021, excluding any type of registration or other specialty tax, was $2,375. While this amount is up $88, or 3.8%, from the reported amount of $2,287 in 2020, it is still less than 1% of the average refinance loan amount, which was $304,909.
  • In contrast, CoreLogic released its 2021 Procurement Closing Costs Report and said domestic closing costs averaged $3,860, excluding transfer and specialty taxes.
  • The main differences between average closing costs for refinances and home purchases are that homeowner’s title insurance and several common inspection fees for purchase transactions are generally not required for refinances. Yet most third-party fees, including lender title, settlement service, and surveying, were also lower for refinances.

“In 2021, homeowners could still get great deals on interest rates and closing costs,” said Bob Jennings, director of CoreLogic Underwriting Solutions. “Although refinancing closing costs have increased slightly, annual fee increases remain below the average inflation rate of 7% seen in 2021. Much of the cost containment can be attributed to the growing use of solutions technologies by lenders and settlement service providers, which has enabled the industry to increase capacity while containing closing costs.”

State and Metro Takeout:

  • The 2021 report shows that the states with the highest average closing costs, excluding specialty taxes, were Hawaii ($4,730), New York ($4,679), Florida ($3,956), Texas ($3,588 $) and the District of Columbia ($3,370).
  • The states with the highest closing costs, including taxes, were New York ($10,084), Pennsylvania ($7,614), Delaware ($7,223), Florida ($5,821) and California ( $5,762).
  • At the metro level, those with the highest average fees without taxes include Key West, Florida ($4,922); Arcadia, Florida ($4,756) and Kahului-Wailuku-Lahaina, Hawaii ($4,651).

Refinance cost calculations include the lender’s title policy, appraisal, settlement, registration fees, and various state and local taxes. The calculations use home price data from CoreLogic to estimate closing costs for an average home at the state, Central Statistical Area (CBSA), and county levels. Ranges, rather than single values, are used to more accurately capture fees associated with actual transactions.

For more information on this data, or for the full report that offers additional detail, please visit closing.com/closingcosttrends.

Methodology

ClosingCorp’s average closing costs are defined as the average fees and taxes required to close a conventional refinancing transaction in a geographic area. These costs include fees for the following types of services: title policies (lenders only as homeowner’s policy does not apply to refinances), appraisals, settlement fees, registration fees, land surveys and taxes related to refinancing.

The actual closing costs for 4.99 million single family refinances from January 1 to December 31, 2021 have been analyzed. Average loan amounts have been estimated at 80% of average house prices (source: CoreLogic ©, a leading global provider of real estate information, analysis and data). Homes within $100,000 of this estimated average loan amount were used to estimate closing costs for an average single-family residential home at the state, Central Statistical Area (CBSA), and county levels. .

The average Service Type Component Fee has been calculated for each geographic area where at least 10 transactions occurred within the specified range during the reporting period. The total closure cost was then calculated as the sum of the service type averages. Survey fees have only been included for single family homes in Florida and Texas where surveys are required. The cost of closing has been calculated with and without taxes.

About CoreLogic

CoreLogic, a leading provider of real estate information and solutions, promotes a healthy housing market and thriving communities. Through its enhanced real estate data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance companies, government agencies and other housing market players to help millions of people to find, buy and protect their home. For more information, please visit www.corelogic.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220509005114/en/

CONTACT: Robin Wachner

CoreLogic

newsmedia@corelogic.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

SECTOR KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE PROFESSIONAL SERVICES FINANCE

SOURCE: CoreLogic

Copyright BusinessWire 2022.

PUBLISHED: 05/09/2022 08:01 AM/DISC: 05/09/2022 08:02 AM

http://www.businesswire.com/news/home/20220509005114/en

Copyright BusinessWire 2022.

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Refinance closing costs remain below 1% of loan amount in 2021, CoreLogic’s ClosingCorp reports https://johnhesch.com/refinance-closing-costs-remain-below-1-of-loan-amount-in-2021-corelogics-closingcorp-reports/ Mon, 09 May 2022 12:01:00 +0000 https://johnhesch.com/refinance-closing-costs-remain-below-1-of-loan-amount-in-2021-corelogics-closingcorp-reports/ Second Annual Refinance Closing Costs Report Shows Mortgage Refinance Closing Costs Increased 3.8% in 2021 Comparatively, the closing costs of buying a mortgage increased by 13.4% IRVINE, Calif., May 9, 2022–(BUSINESS WIRE)–CoreLogic’s ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released […]]]>
  • Second Annual Refinance Closing Costs Report Shows Mortgage Refinance Closing Costs Increased 3.8% in 2021

  • Comparatively, the closing costs of buying a mortgage increased by 13.4%

IRVINE, Calif., May 9, 2022–(BUSINESS WIRE)–CoreLogic’s ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today released its second report on the closing costs of the refinancing for 2021.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220509005114/en/

Table 1: Average Closing Costs by State (Chart: Business Wire)

Key points to remember

  • The national average closing cost for refinancing a single family home in 2021, excluding any type of registration or other specialty tax, was $2,375. While this amount is up $88, or 3.8%, from the reported amount of $2,287 in 2020, it still represents less than 1% of the average refinance loan amount, which was $304,909. .

  • In contrast, CoreLogic released its 2021 Procurement Closing Costs report and said domestic closing costs averaged $3,860, excluding transfer and specialty taxes.

  • The main differences between average closing costs for refinances and home purchases are that homeowner’s title insurance and several common inspection fees for purchase transactions are generally not required for refinances. Yet most third-party fees, including lender title, settlement service, and surveying, were also lower for refinances.

“In 2021, homeowners could still get great deals on interest rates and closing costs,” said Bob Jennings, director of CoreLogic Underwriting Solutions. “Although refinancing closing costs have increased slightly, annual fee increases remain below the average inflation rate of 7% seen in 2021. Much of the cost containment can be attributed to the growing use of solutions technologies by lenders and settlement service providers, allowing the industry to increase capacity while controlling closing costs.”

State and Metro Takeout:

  • The 2021 report shows that the states with the highest average closing costs, excluding specialty taxes, were Hawaii ($4,730), New York ($4,679), Florida ($3,956), Texas ($3,588 $) and the District of Columbia ($3,370).

  • The states with the highest closing costs, including taxes, were New York ($10,084), Pennsylvania ($7,614), Delaware ($7,223), Florida ($5,821) and California ( $5,762).

  • At the metro level, those with the highest average fees without taxes include Key West, Florida ($4,922); Arcadia, Florida ($4,756) and Kahului-Wailuku-Lahaina, Hawaii ($4,651).

Refinance cost calculations include the lender’s title policy, appraisal, settlement, registration fees, and various state and local taxes. The calculations use home price data from CoreLogic to estimate closing costs for an average home at the state, Central Statistical Area (CBSA) and county levels. Ranges, rather than single values, are used to more accurately capture fees associated with actual transactions.

For more information on this data, or for the full report that offers additional detail, please visit closing.com/closingcosttrends.

Methodology

ClosingCorp’s average closing costs are defined as the average fees and taxes required to close a conventional refinancing transaction in a geographic area. These costs include fees for the following types of services: title policies (lenders only as homeowner’s policy does not apply to refinances), appraisals, settlement fees, registration fees, land surveys and taxes related to refinancing.

The actual closing costs for 4.99 million single family refinances from January 1 to December 31, 2021 have been analyzed. Average loan amounts have been estimated at 80% of average house prices (source: CoreLogic ©, one of the world’s leading providers of property information, analytics and data). Homes within $100,000 of this estimated average loan amount were used to estimate closing costs for an average single-family residential home at the state, Central Statistical Area (CBSA), and county levels. .

The average Service Type Component Fee has been calculated for each geography where at least 10 transactions occurred within the specified range during the reporting period. The total closure cost was then calculated as the sum of the service type averages. Survey fees have only been included for single family homes in Florida and Texas where surveys are required. The cost of closing has been calculated with and without taxes.

About CoreLogic

CoreLogic, a leading provider of real estate information and solutions, promotes a healthy housing market and thriving communities. Through its enhanced real estate data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance companies, government agencies and other housing market players to help millions of people to find, buy and protect their home. For more information, please visit www.corelogic.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220509005114/en/

contacts

Robin Wacher
CoreLogic
newsmedia@corelogic.com

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Breakthrough in Pak-IMF bailout talks, loan amount rises to $8 billion https://johnhesch.com/breakthrough-in-pak-imf-bailout-talks-loan-amount-rises-to-8-billion/ Sun, 24 Apr 2022 16:15:57 +0000 https://johnhesch.com/breakthrough-in-pak-imf-bailout-talks-loan-amount-rises-to-8-billion/ ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have agreed, in principle, to extend the stalled bailout program for up to a year and increase the loan amount to $8 billion, giving markets the stability they need. much needed and a respite for the new government. The deal was struck between Finance Minister Dr Miftah […]]]>

ISLAMABAD:

Pakistan and the International Monetary Fund (IMF) have agreed, in principle, to extend the stalled bailout program for up to a year and increase the loan amount to $8 billion, giving markets the stability they need. much needed and a respite for the new government.

The deal was struck between Finance Minister Dr Miftah Ismail and IMF Deputy Managing Director Antoinette Sayeh in Washington, sources told The Express Tribune on Sunday.

Subject to final terms, the IMF has agreed that the program will be extended by an additional nine months to one year from the original end period of September 2022, the sources added.

The loan amount would increase from the existing $6 billion to $8 billion – a net addition of $2 billion, a senior government official said on condition of anonymity. The IMF is expected to issue a statement on Monday (today) in this regard.

The previous government led by the PTI and the IMF had signed a 39-month Extended Financing Facility (July 2019 to September 2022) worth a total of $6 billion. However, the previous government failed to meet its commitments and the program remained stalled most of the time, with $3 billion remaining undisbursed.

Read also : IMF sets tough conditions for bailout relaunch

Before submitting Pakistan’s case to the IMF board for approval, Islamabad should agree on the fiscal strategy for the next financial year 2022-23, the sources said.

In addition, Prime Minister Shehbaz Sharif’s government is expected to demonstrate that it would reverse some erroneous measures taken by the former regime against commitments it made before the IMF board in January this year.

Pakistan is going through a phase of political and economic uncertainty and the decision to stay in the IMF program longer than the initial period would bring clarity in economic policies and ease troubled markets.

Minister of State for Finance Dr Aisha Ghaus Pasha, outgoing State Bank Governor Dr Reza Baqir, Secretary of Finance Hamid Yaqoob Sheikh and Executive Director of Pakistan at the World Bank Naveed Kamran Baloch also participated in the meeting with the IMF team.

The names of a banker and a former bureaucrat, who also served at the Asian Development Bank, are being considered for Dr Baqir’s replacement. Baqir will end his term on May 4.

To give final shape to the extended program, an IMF mission is likely to visit Pakistan from May 10, the sources said.

The IMF team will be led by its new mission chief, Nathan Porter.

Once the talks were successfully concluded, the two sides were expected to reach a personnel agreement, a senior finance ministry official said.

Technical staff from Pakistan and the IMF would start the engagement from Monday to see the fiscal situation in light of the “irresponsible” decisions made by the previous government.

However, before gaining formal IMF approval to increase the program size and cash limit, the government will need to show that it is sincere in making the tough policy decisions needed.

The sources said the IMF had asked Pakistan to withdraw fuel and electricity subsidies that former Prime Minister Imran Khan announced on February 28 in “utter disregard of fiscal prudence” and to “win the support lost” due to double-digit inflation in the country.

Finance Minister Ismail said last week that the government was providing a subsidy of Rs 21 per liter on petrol and Rs 51.54 per liter on high-speed diesel which, in April alone, would cost taxpayers 68 billion rupees.

These subsidies should be removed to revive the program.

The last PTI government estimated the cost of fuel subsidies at Rs 140 billion for the period March 1 to June 30 this year. However, so far the government has already donated 101 billion rupees in two months.

Read also : Government ready to cut fuel subsidies, Miftah tells IMF

The Petroleum Division estimated that an additional Rs 192 billion would be needed to pay fuel subsidies from May to June, according to the Energy Ministry’s summary for the Economic Coordinating Committee (ECC).

The sources said it was also agreed between the two parties that IMF staff would review the actual budget figures for the current fiscal year against the targets agreed with the global lender in December 2021.

Former finance minister Shaukat Tarin had agreed with the IMF that he would ensure a primary fiscal surplus of up to 25 billion rupees. However, the Ministry of Finance has now estimated that there could be a primary deficit of 1.3 trillion rupees by the end of June, according to Miftah.

The IMF wanted Pakistan to minimize the deviation from the previously agreed limit of 25 billion rupees surplus, the sources said.

The global lender also wanted the new government to try to offset some of the subsidy and the gap, they added.

They said that during discussions with the IMF, the issue of Pakistan’s debt sustainability, reduction of imports, increase in current account deficit and increase in foreign exchange reserves were also discussed.

On the sidelines, Miftah also had talks with the director general of the BM.

WB Vice President Hartwig Schafer and Naveed Kamran Baloch also attended.

The two sides discussed the possibility of releasing about $1.8 billion in World Bank loans that had also been blocked due to either non-compliance with actions promised by the last government or bureaucratic problems, added the sources.

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How will your DSR affect your home loan amount? https://johnhesch.com/how-will-your-dsr-affect-your-home-loan-amount/ Fri, 08 Apr 2022 01:30:51 +0000 https://johnhesch.com/how-will-your-dsr-affect-your-home-loan-amount/ Buying an expensive item like a house or real estate is always a daunting journey. Whether this is your first experience or not, one question remains: can I afford to buy this place? Unless you can afford to finance your home purchase yourself, most would seek a home loan from banks to help with their […]]]>

Buying an expensive item like a house or real estate is always a daunting journey. Whether this is your first experience or not, one question remains: can I afford to buy this place?

Unless you can afford to finance your home purchase yourself, most would seek a home loan from banks to help with their financial payment.

Here are the factors banks consider when determining how much loan you can get:

In this article, we will dig deeper into what DSR is and how it works.

Debt service ratio

Debt Service Ratio or DSR is a method banks use to determine if you can afford to repay the loan you are requesting. To measure whether you can afford the loan, the DSR takes into consideration the amount of commitment you have relative to your income.

DSR = Engagement / Revenue

By calculating your DSR, banks will be able to assess your monthly commitment and see how your financial situation compares to your financial limits. However, depending on the bank, different banks may have different ways of calculating income or liability. For example, some banks will look at net income while others will look at gross income. Therefore, you will need to do your homework on this to identify which bank will be able to give you the best rate.

In addition, banks will also have their threshold in terms of DSR qualified for loan application. Apart from your income level, the bank will also take into account your net worth, age, and qualifications to determine how much loan you can get.

Now, finding the right loan that could meet your financial appetite can take some time due to the variety of options available. To save time, head over to EdgeProp’s LoanReport tool to view your custom loan packages from different banks. Check your eligibility at https://www.edgeprop.my/loancheck.

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