New Homes for Less? Wedding Gifts, HELOCs & More - Mortgage Research Network Podcast | Lyssna här

Cash wedding gifts could help you buy a home, but will your mortgage lender accept them? In this episode, Tim Lucas explains a little-known Freddie Mac rule that makes it easier to use wedding gifts toward a down payment or closing costs, including what documentation you'll need.

New construction may also be more affordable than you think. Recent data shows that new homes are selling for less per square foot than existing homes nationally, and builders in some markets have more incentive to negotiate. Tim looks at why that's happening and what buyers should consider when comparing new and older homes.

Plus, home equity borrowing is booming as homeowners look for ways to access cash without giving up their low mortgage rates. Tim breaks down how HELOCs and home equity loans compare with cash-out refinancing, along with the costs and risks to consider before borrowing against your home.

Comment below: Would you consider buying a new home instead of an existing one if it cost less per square foot?

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00:00 - Introduction