Latest news with #FHA
Yahoo
2 hours ago
- Business
- Yahoo
Greystone Expands FHA Lending Team with the Addition of Corley Audorff and Josh Williams
NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced today that Corley Audorff and Josh Williams have joined the firm as Directors. Both based in Atlanta, GA, Mr. Audorff and Mr. Williams will focus on loan originations for multifamily and seniors housing / healthcare assets, reporting to Field Springer, Chief Operating Officer of Greystone's FHA Lending platform. Mr. Audorff brings over 15 years of experience in real estate finance, most recently serving as a Senior Vice President of Production at Colliers Mortgage from 2022 to 2025, where he focused on HUD/FHA, Fannie Mae, USDA and proprietary lending financing solutions for clients. Prior to his role at Colliers, Mr. Audorff served as a Vice President at PGIM Real Estate, where he specialized in HUD financing, and has also spent time as a Managing Director at Monticello Asset Management. Prior to his work in the private sector, Mr. Audorff served approximately seven years in various roles at the U.S. Department of Housing and Urban Development, including Senior Underwriter. Mr. Williams also joins from Colliers Mortgage, where he was a Vice President from 2022 to 2025. He previously served as a Senior Associate Loan Officer at PGIM Real Estate and as an Underwriter and Production Associate at Monticello Asset Management. His expertise spans multifamily and healthcare sectors, with a strong background in FHA-insured loan products. 'I'm thrilled to join Greystone, the #1 multifamily and healthcare HUD lender*, and work to continue our success together as a team, in multifamily and healthcare finance,' said Mr. Audorff. 'The company's depth of resources, integrated lending platform, and client-focused culture create an environment where I can contribute meaningfully to impactful transactions in the seniors housing and multifamily sectors.' 'Both Corley and Josh's combined depth of experience across the private and public sectors in multifamily and healthcare financing makes them an invaluable addition to our lending team,' said Mr. Springer. 'Together, they strengthen our reach and capabilities in key asset classes and geographies.' About Greystone Greystone Servicing Company is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in volume for these sectors. Greystone loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit *For HUD's 2024 fiscal year. Based upon combined firm commitments of Greystone Funding Company LLC and Greystone Servicing Company LLC. PRESS CONTACT:Karen
CNBC
5 days ago
- Business
- CNBC
The best places in America to buy a house on a $125,000 salary
If you want as many options as possible when house hunting, don't sleep on Ohio. The Buckeye State is home to the five areas with the most affordable homes for Americans making $125,000, according to the 2025 Housing Affordability and Supply Report from the National Association of Realtors and The South was well represented in the top 10, too, including cities in Arkansas, Florida, South Carolina and Texas. The U.S. housing market "is at a turning point," says NAR Senior Economist Nadia Evangelou. After a years-long shortage, inventory has started to rebound: The number of listings shot up nearly 20% between March 2024 and March 2025. But an affordability gap persists. "For many first-time homebuyers, navigating the current housing market still feels like window shopping," Evangelou said in a release. "Listing prices don't match [their] budgets." According to the report, middle- and upper-middle-income homebuyers (households earning between $75,000 and $100,000 a year) have seen the largest uptick in affordable housing supply. Meanwhile, households earning $75,000 are only able to afford about a fifth of home listings nationwide. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.10–30 years62010-, 15- and 30-year fixed-term conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years.620 To determine the share of listings that are financially accessible on a $125,000 salary, NAR used listings from March 2025 in the 100 largest metropolitan statistical areas (MSA).The calculations are based on a 30-year fixed-rate mortgage with a down payment of 20% or less, assuming that no more than 30% of a family's earnings are allocated toward housing, as recommended by the U.S. Department of Housing and Urban Development (HUD). Maximum home price: $410,340Share of affordable listings: 89% The MSA encompassing Youngstown and Boardman, Ohio, and Warren, Pennsylvania, is popular with commuters who work in nearby Cleveland or Pittsburgh. In 2024, NAR identified Youngstown as one of the last metro areas where a household of nearly any income level could find an affordable single-family home. Maximum home price: $402,940Share of affordable listings: 83% The fourth-largest MSA in Ohio, the greater Dayton area includes Kettering and the surrounding Miami Valley. A loss of manufacturing jobs and the 2008 housing market crash fueled a steep population decline, but the region has begun to recover: In 2022, the population was over 812,000, up from 799,700 in 2010. Maximum home price: $413,210Share of affordable listings: 82.7% Akron was the heart of the U.S tire and rubber industries throughout the 20th century, and both Bridgestone and Goodyear still have a major presence. The median household income in the Akron MSA was $48,544 in 2023, a 4.18% increase from 2022. Maximum home price: $408,270Share of affordable listings: 81.5% The Toledo MSA, which includes Ohio's Fulton, Lucas, and Wood Counties, has long been a bedroom community for Detroit. It's also home to Fortune 500 company Owens Corning, the world's largest manufacturer of fiberglass composites. Maximum home price: $414,350Share of affordable listings: 79.3% The Cleveland-Elyria, Ohio, MSA incorporates Ashtabula, Cuyahoga, Geauga, Lake, Lorain, and Medin Counties. In 2022, it had a population of 2.06 million, making it the third-largest metropolitan area in the state and the 33rd-largest in the nation. Maximum home price: $381,960Share of affordable listings: 79.1% Northeastern Pennsylvania's coal industry helped fuel the American industrial revolution. In 2024, the Scranton-Wilkes-Barre MSA remained the state's fifth-largest metropolitan area, with a population of 574,000. Maximum home price: $423,590Share of affordable listings: 78.2% The state capital, Little Rock is a political, economic and cultural hub in the American South. The Little Rock-North Little Rock-Conway MSA has seen a population surge over the last half-century, from 396,462 in 1970 to nearly 777,000 in 2024, Maximum home price: $427,430Share of affordable listings: 78.1% About 30 minutes east of Tampa, the Lakeland-Winter Haven MSA had a population of 852,878 in 2024, a major increase from 485,378 in 2000. Florida Southern College in Lakeland is home to the largest gathering of Frank Lloyd Wright architecture in the world. Maximum home price: $362,540Share of affordable listings: 78.0% The population of the El Paso MSA ballooned from 680,942 in 2000 to 879,392 in 2024. Located on the Mexico-U.S. border, El Paso is the epicenter of the Borderplex Region, considered the largest bilingual workforce in the Western Hemisphere. Maximum home price: $436,330Share of affordable listings: 77.8% The Columbia MSA is another region enjoying a growth spurt in the last quarter-century, with a population that jumped from 649,181 in 2000 to 870,193 in 2024. In addition to serving as the state capital, Columbia is home to Fort Jackson, where roughly half of all soldiers in the U.S. Army receive basic combat training. According to HUD, no more than 30% of your gross income should go toward housing expenses. That includes mortgage principal and interest, as well as: With that in mind, someone earning $125,000 a year should keep their total housing budget to $3,125 a month or less. How much you can spend depends on the size of your down payment, and the cost of expenses like homeowners insurance, property taxes and private mortgage insurance in your location. When NAR accounted for these variables, it found that the maximum price that families earning $125,000 could afford ranged from $356,940 to $542,440. See how much home you can afford using our mortgage calculator. In part, the current scarcity is being fueled by Covid-era supply-chain issues, material costs and labor shortages. But new home builds dropped sharply after the 2008 subprime mortgage crisis. And historically high mortgage rates have deterred many homeowners from selling, just as millennials entered their peak homebuying years. According to the Federal Reserve, the median U.S. home price in the first quarter of 2025 was $416,900. There are wide variations depending on the state, city and neighborhood you live in, however, and that figure doesn't factor in homeowners insurance, property taxes and other housing expenses. Someone earning $125,000 a year can spend as much as $542,440 on a house, depending on their location, down payment, outside financial obligations, current mortgage rates and other factors. Ohio is considered the most affordable state for homebuyers. The median household income is 1.5 times more than what's needed to afford a median-priced home in the state. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Yahoo
28-05-2025
- Business
- Yahoo
Arrive Home Launches Two New Earned Equity Products
Long-term purchase contract solution provides alternative paths toward homeownership for specific borrower groups SALT LAKE CITY, May 28, 2025--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. "Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership," said Arrive Home Chief Communications Officer Tai Christensen. "By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility." About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time. View source version on Contacts Press Contact Jacob Gaffneyjacob@ 817.471.7627
Business Wire
28-05-2025
- Business
- Business Wire
Arrive Home Launches Two New Earned Equity Products
SALT LAKE CITY--(BUSINESS WIRE)--National affordable housing innovator Arrive Home has launched two new iterations of its Earned Equity Program as part of its continued mission to expand access to homeownership for underserved borrowers. Arrive Home's Earned Equity Program, which helps more consumers achieve their homeownership goals through a long-term purchase contract, is now available in two separate products designed for two different groups of borrowers. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership." Share EEP Pathway is ideal for ITIN and certain Visa statuses individuals who may be solid long-term renters looking to move on to homeownership. The program, which follows FHA guidelines with enhancements for accessibility, does not require a Social Security Number or FICO score and has flexible guidelines for the self-employed. Using EEP Pathway, lenders can serve ready-to-buy borrowers with confidence. EEP DocLight is designed to help gig workers, first-time buyers and those who may not have qualified for a mortgage under traditional FHA guidelines. The program assesses borrowers using FormFree's RIKI tool for smart, flexible income and asset verification. EEP DocLight's asset-based risk model reviews P&L or bank statements but does not require tax returns or a FICO score, making it a solid choice for non-traditional earners looking to buy a home. Arrive Home first launched its innovative Earned Equity Program in 2023. The program enables participants to enter into a homeownership agreement with monthly payments controlled by a 40-year Homeownership Agreement Amortization Schedule. This allows them to use and enjoy the home as their own, with the intention of eventually buying or assuming the property. At any time during the term of the purchase contract, the participant may buy the home at a price that was fixed when the contract was signed. During the term, the customer has time to improve their credit rating and eliminate other obstacles preventing them from qualifying for a home, eventually buying the property outright using a traditional mortgage loan. Since its launch, the EEP Program has found tremendous success with mortgage lenders looking to serve borrowers previously locked out of homeownership. Now, by designing two EEP iterations intended to cater to different borrower profiles, Arrive Home can help its lender partners reach more underserved borrowers while simplifying the process for all parties involved. 'Launching two versions of EEP was a natural next step to expanding access to the program for more Americans looking to achieve their dream of homeownership,' said Arrive Home Chief Communications Officer Tai Christensen. 'By bifurcating the program, we're helping lenders identify potential borrowers who stand to benefit from EEP's innovation and flexibility.' About Arrive Home Arrive Home is a national affordable housing program in the lending space that offers down payment assistance and innovative credit solutions for responsible borrowers across communities. Arrive Home is dedicated to increasing homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer creative and diverse mortgage products that are designed to enable correspondent lenders to confidently deliver loans to reliable borrowers. In doing so, Arrive Home aims to increase access to homeownership for credit worthy, low- to moderate-income American families, creating generational change one home at a time.
