Marco Santarelli

MARCH 5, 2025

Thinking about buying a home in 2025? One of the biggest questions on everyone's mind is: What will mortgage rates be? Based on the latest forecasts, the 2025 mortgage rate outlook suggests an average 30-year fixed mortgage rate hovering between 6% and 7%. Most experts predict rates will settle around 6.4% Wells Fargo ~7.1% ~6.9% ~6.65% ~6.5%

Mortgages 92

Mortgages Pre-approval FHA loan Loans 92

HomeLight

SEPTEMBER 30, 2020

In a short sale, the owner owes more on their mortgage loan than the house is worth. The lender recognizes that they’re going to be unable to recoup the full amount of the loan and so agrees to a short sale. On average, you can expect a short sale to take between 60 to 90 days before you get the bank’s approval on your offer.

Short sale 138

Short sale Loans Sales FHA loan 138

Marco Santarelli

FEBRUARY 16, 2025

VA and FHA Loans : Competitive rates with a 30-year VA at 5.98% and FHA rates starting at 5.75%. per month (Principal & Interest) These examples illustrate how different loan amounts and terms can impact your monthly mortgage payment, which will be a critical aspect of your budget if you decide to invest in property.

FHA loan 52

FHA loan Mortgages Principal VA loan 52

HomeLight

MAY 19, 2022

Looking to sell a house “as is” in Maryland? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. There are some misconceptions about what “as is” means, says top-rated Maryland real estate agent Juan Umanzor. “I They want to sell as-is.”. Request Cash Offer.

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As-is Inspection Investor Closing costs 119

HomeLight

AUGUST 12, 2022

Looking to sell a house “as is” in Illinois? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. If a seller or an agent lists the property “as is” then the label can carry implications. They anticipate getting a great offer or multiple offers on their homes.

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As-is Purchase and sale agreement Inspection Investor 111

HomeLight

OCTOBER 22, 2021

It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. So, how much home can you afford?

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Pre-qualification Pre-approval VA loan FHA loan 111

RIS Media

OCTOBER 29, 2020

The amount you need will depend on the lender and the type of loan you choose. A lot hinges on your credit score as it determines the mortgage you will be offered and the interest rate you will have to pay for the loan. The Federal Housing Administration (FHA) backs the FHA loans program. Down Payment.

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Pre-approval FHA loan Inspection Closing costs 140

HomeLight

MAY 23, 2022

Looking to sell a house “as is” in Massachusetts? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. This includes houses that may require a bit of TLC. “If Sell 'As Is' With a Cash Offer. Skip repairs and close in as few as 10 days. Request Cash Offer.

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As-is Inspection Sales Investor 111

Realty Biz

DECEMBER 10, 2020

It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. How to Get Preapproved For a Loan. When you actually try to get approval for a loan, you might find you don’t get the amount you anticipate if you have only been prequalified.

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Loans Mortgages Pre-approval Pre-qualification 144

RIS Media

DECEMBER 19, 2020

Pre-qualifying for a mortgage is often the first step toward owning a home. Here’s some information that can help you to figure out how and when to apply for a loan this year: Pay Attention to Falling Rates. Look at Loan Types. Look at Loan Types. Talk to a Lender.

Loans 105

Loans Pre-qualification Pre-approval VA loan 105

Realtor.com

DECEMBER 20, 2021

“The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , “Then ask each of them how much down payment you’ll need for pre-approval for a mortgage.” for an FHA loan. . for an FHA loan.

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Pre-approval Loans Loan Officer VA loan 137

Redfin

MARCH 4, 2025

If the auction accepts financing, make sure you have a pre-approval ready. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans. If a buyer with a government-backed loan goes into foreclosure, the government will take control of the property. What is foreclosure?

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Pre-approval FHA loan Short sale Banks 31

Lab Coat Agents

FEBRUARY 7, 2023

Types Of Mortgage Loans Several types of mortgage loans are available to borrowers, and the type that is best for you will depend on your circumstances. The most common types of mortgages are: 30-year fixed-rate mortgage: With this type of loan, the interest rate remains fixed for the entire term, typically 30 years.

FHA loan 96

FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Marco Santarelli

SEPTEMBER 30, 2023

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. The minimum credit score for an FHA loan is 580 with a 3.5% However, many FHA lenders require credit scores of at least 620. can qualify for an FHA loan.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

HomeLight

AUGUST 31, 2021

If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan. . In addition to 12 years of experience as a real estate agent, Forney has personal experience using a 203(k) loan to purchase and fix up his first home.

Loans 104

Loans FHA loan Pre-approval Finance 104

RIS Media

MAY 19, 2021

The loan process is a whole different process that can seem like a foreign language. VA funding fees and UFMIP are typically wrapped into the full loan balance. – On FHA loans, the seller can pay almost any cost, but the buyer has to have a minimum 3% investment in the home/closing costs. Deposited Reserves.

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Closing costs Closing Pre-approval VA loan 116

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Let's take a closer look.

Mortgages 101

Mortgages Pre-approval Pre-qualification Due diligence 101

HomeLight

SEPTEMBER 30, 2020

The Federal Housing Administration (FHA) is part of HUD’s Office of Housing, and it guarantees certain mortgage loans for lenders by providing mortgage insurance on loans for borrowers who may not qualify for a conventional mortgage ; the lenders in turn provide those mortgages to homebuyers. How does bidding work?

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Earnest money deposit FHA loan Pre-approval Finance 98

HomeLight

OCTOBER 5, 2020

When a home is listed as a short sale, the lender forgives the remaining balance of the loan. You’ll need to get preapproved for a mortgage loan. ” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. It has everything you’ve ever wanted.

Short sale 97

Short sale Sales Pre-approval Pre-qualification 97

Norada Real Estate

JUNE 22, 2022

In the case of a Non-Recourse Loan, the investor puts an asset forward. Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. We all know that in a real estate investment “cash-is-king.” What is a Turnkey Rental Property?

Finance 96

Finance FHA loan Investor Loans 96

Realtor.com

APRIL 27, 2021

For many first-time home buyers , a government-backed FHA loan can be obtained for as little as 3.5% For many first-time home buyers , a government-backed FHA loan can be obtained for as little as 3.5% And if you have the down payment you need, you can go straight to applying for mortgage pre-approval.

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Pre-approval FHA loan Loans Mortgages 124

HomeLight

OCTOBER 27, 2020

Some types of loans do require you to provide your tax returns. Step 1: Determine what kind of loan you want (and can get). That’s not true of every loan, though. If you are applying for an FHA loan , for example, you’ll have to provide your tax returns, no matter what. What’s a qualified mortgage loan? .

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Pre-qualification Loans 105

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. Looking for a way to snag a home at a steal of a deal? Source: (Jeremy Yap / Unsplash). What is HUD?

Pre-approval 105

Pre-approval Pre-qualification FHA loan Inspection 105

HomeLight

AUGUST 31, 2020

Knowing whether you qualify and how to qualify as a first-time homebuyer is half the battle, then comes understanding the advantages — like low-money-down or no-money-down loans and grants that often accompany the coveted first-time buyer status. down (FHA). USDA Rural Development loans also allow for 100% financing (or 0% down).

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Debt-to-income ratio FHA loan Pre-qualification VA loan 93

HomeLight

SEPTEMBER 30, 2020

Keep in mind that what you think you can afford and what a mortgage lender is willing to loan you to buy a home doesn’t always match up. Once you connect with a good lender, find out what your loan options are. Some loans like FHA loans , USDA loans , or VA loans allow you to purchase a home with a low down payment (3.5%

FHA loan 88

FHA loan Pre-approval Debt-to-income ratio Inspection 88

Realty Biz

FEBRUARY 7, 2023

Once you have figured out the loan term and whether it is fixed or assumable, you should consider the loan type. What Type of Loan Program Works For You? Understanding the perfect mortgage fit for you is part of preparing to get a home loan. Each of these types of loans has its pros and cons.

Pre-approval 77

Pre-approval Mortgages Pre-qualification VA loan 77

Lighter Side of Real Estate

OCTOBER 11, 2023

5% Down Payment Loans for Multifamily Properties If a 15-25% down payment has been a hurdle for you to invest in a multifamily property, you might be interested to know that Fannie Mae just announced that they will be offering loans for multifamily homes with as little as 5% down payment for owner-occupied properties with 2, 3 or 4 units.

Pre-approval 122

Pre-approval FHA loan Loans Investor 122

HomeLight

JANUARY 12, 2022

According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Broken down by type of loan, you can expect the following: . Conventional loan. So if you list your home on Jan. 1 and accept an offer on Jan. Average time to close.

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Closing Purchase and sale agreement Pre-approval Inspection 116

Lab Coat Agents

NOVEMBER 20, 2024

This type of mortgage allows you to take over the existing loan of the seller, often with favorable terms. If you are the buyer, this means you inherit the loan’s principal balance, interest rate, and repayment terms. Types Of Loans That Can Be Assumed Not all mortgages are assumable. What Is An Assumable Mortgage ?

Purchase and sale agreement 98

Purchase and sale agreement Mortgages Pre-approval VA loan 98

Marco Santarelli

MAY 30, 2024

Alternative Financing Options: Exploring programs like FHA loans or down payment assistance initiatives can help bridge the gap for aspiring homeowners facing stiff competition from cash buyers. The US housing market continues to evolve , with a growing presence of institutional investors in the single-family rental space.

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Investor Marketing Pre-approval FHA loan 98

Realty Biz

DECEMBER 12, 2022

A mortgage is a loan that you take out from a bank or other financial institution to buy, build or substantially improve on a property. There are many different types of mortgages , including conventional, FHA, VA, and USDA loans. Mortgage Pre-Approval and Pre-Qualification Are Not The Same. Let's dig in.

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Debt-to-income ratio Mortgages Pre-approval Pre-qualification 87

RIS Media

AUGUST 5, 2020

The 2019 – 2020 State of Asia America Report , an annual AREAA publication, provides a snapshot of the state of AAPI homeownership pre-COVID-19. Just 6 percent and 2 percent of Asian loan applications are for FHA loans and VA loans, respectively. Additional closing costs associated with VA loans.

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VA loan FHA loan Pre-qualification Loans 95

Realty Biz

MARCH 13, 2024

Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers. Pre-approval provides a significant advantage by showing sellers you are a serious buyer with the financing ready to make a purchase.

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Pre-approval Marketing Inspection Closing costs 91

HomeLight

JULY 31, 2022

While an appraisal is not in the same category as the more in-depth home inspection, different mortgage types (such as conventional loans or government-backed FHA , USDA, or VA loans ) have different minimum property standards. By comparison, to be eligible for an FHA loan, the property must meet U.S.

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Closing FHA loan Purchase and sale agreement Inspection 98

Redfin

JULY 31, 2024

Prepare thoroughly : Improve your credit score, set a budget, and get pre-approved to streamline the home-buying process and secure a favorable mortgage. A higher credit score can help you secure a lower mortgage interest rate and better loan terms. Compare terms and interest rates to find the best fit for you.

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Pre-approval Pre-qualification Mortgages Loans 71

Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents play a crucial role in real estate transactions. They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 70