Marco Santarelli

MARCH 27, 2025

Over the life of a 30-year loan, even a small decrease can save you thousands of dollars. In this case, the drop comes despite the stock market's upward momentum and a rise in the U.S. Treasury yield. It is quite surprising, but here's the breakdown as I see it. Renewed Hope: The psychological effect of seeing rates drop can be significant.

Mortgages 113

Mortgages FHA loan Purchase and sale agreement Pre-approval 113

Redfin

MARCH 26, 2025

Quick answer: A financing contingency gives buyers a way to walk away from the deal and keep their deposit if their loan application is denied. Even if youve been pre-approved , things like a low appraisal, a job loss, or changes in your credit can derail the loan process. Youre using a government-backed loan.

Finance 48

Finance Pre-approval Purchase and sale agreement Earnest money deposit 48

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?

Pre-qualification 111

Pre-qualification Pre-approval VA loan FHA loan 111

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.

As-is 119

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.

As-is 111

As-is Purchase and sale agreement Inspection Investor 111

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.

As-is 111

As-is Inspection Sales Investor 111

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 Pre-approval 138

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. Other borrowers might be better served by VA loans or even conventional loans.

Loans 105

Loans Pre-qualification Pre-approval VA loan 105

Marco Santarelli

DECEMBER 22, 2024

Fixed-Rate Mortgages: These loans offer stability by locking in the interest rate for the entire duration of the mortgage (typically 15-30 years). Mortgage rates are a critical consideration for anyone looking to borrow money for a home. The Feds stance on inflation, which remains a concern, dictates its approach to adjusting interest rates.

Mortgages 52

Mortgages VA loan Fixed-rate mortgage Debt-to-income ratio 52

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.

Pre-approval 137

Pre-approval Loans Loan Officer VA loan 137

Marco Santarelli

MARCH 20, 2025

Be prepared for higher monthly payments compared to a 30-year loan. VA Loans – A Benefit for Veterans: Backed by the Department of Veterans Affairs, VA loans offer significant advantages to eligible veterans, active-duty service members, and surviving spouses. Are you keeping an eye on mortgage rates?

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible. of all mortgage originations.

FHA loan 111

FHA loan Loans Pre-approval Pre-qualification 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. Closing Costs.

Pre-approval 140

Pre-approval FHA loan Inspection Closing costs 140

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.

Closing costs 116

Closing costs Closing Pre-approval VA loan 116

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

FEBRUARY 16, 2025

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. These stable rates present an opportunity for homebuyers looking to purchase or refinance.

FHA loan 52

FHA loan Mortgages Principal VA loan 52

HomeLight

JULY 31, 2022

Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%. Military life comes with many challenges, and a big one is having to relocate frequently. Check your equity to get started.

VA loan 95

VA loan Purchase and sale agreement Short sale Pre-approval 95

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

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

HomeLight

MARCH 28, 2022

If you’re planning on using a VA loan, how does that impact affordability ? Service-members have different factors to consider than homebuyers who aren’t in the military — from affordability with a housing allowance to what would happen if their orders change. But service-members often don’t have a choice about moving.

VA loan 104

VA loan Loans Debt-to-income ratio Closing costs 104

HomeLight

NOVEMBER 16, 2021

Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. If approved, they move to submit a full application. Buyers will need to meet Home Partners’ minimum FICO requirement, which varies by market, and a maximum debt-to-income ratio (DTI) of 45% to be approved.

Purchase and sale agreement 104

Purchase and sale agreement Pre-approval Debt-to-income ratio Pre-qualification 104

BAM Media

MAY 14, 2024

Define common terms like pre-approval, closing costs, etc. It might sound backwards, but the more you try to appeal to as many subscribers as possible—by making your focus so broad it could apply to almost anyone—the more your open rate tends to sink into oblivion. Imagine throwing flyers from a helicopter.

Pre-approval 111

Pre-approval VA loan Closing costs Loans 111

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?

Pre-approval 34

Pre-approval FHA loan Short sale Banks 34

HomeLight

SEPTEMBER 21, 2020

Raise your weary hand if this military move sounds like you: You’ve only just settled into a well-regarded community and a house you love when you receive cross-country PCS (Permanent Change of Station) orders. Complicating matters is that your spouse didn’t return from a deployment in time to help with packing, clean up, or crunching the finances.

VA loan 111

VA loan Purchase and sale agreement Loans Agents 111

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

HomeLight

OCTOBER 26, 2021

But that is only a preliminary step to getting final approval for a mortgage. For instance, the requirements concerning your credit score or the amount of your down payment can be quite different if you are applying for a conventional loan instead of an FHA or VA loan. Source: (Dawid Zawi?a a / Unsplash).

Pre-approval 104

Pre-approval Mortgages Loans Loan Officer 104

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.

Closing 116

Closing Purchase and sale agreement Pre-approval Inspection 116

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. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval 105

Pre-approval Pre-qualification FHA loan Inspection 105

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.

Debt-to-income ratio 87

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. Asian borrowers continue to be the highest minority users of conventional (GSE-backed) loans by number (223,906) and dollar amount ($86.4 billion in potential loans.

VA loan 95

VA loan FHA loan Pre-qualification Loans 95

Marco Santarelli

MARCH 16, 2025

Breaking Down Today's Mortgage Rates Loan Type Interest Rate 30-Year Fixed 6.59% 20-Year Fixed 6.45% 15-Year Fixed 5.93% 5/1 ARM 6.85% 7/1 ARM 7.13% 30-Year VA 6.15% 15-Year VA 5.59% 5/1 VA 6.15% As you can see, the 30-year fixed-rate mortgage the most common choice for homebuyers is currently averaging 6.59%.

Mortgages 52

Mortgages Fixed-rate mortgage Principal Loans 52

HomeLight

JUNE 30, 2021

A zero-down-payment mortgage is a home loan that you can get without putting any money down — but only for specific loan types, and not every buyer and home will qualify. There are loan programs that allow you to put down much less than that — as little as 3% or even no down payment! Source: (Thought Catalog / Unsplash).

VA loan 94

VA loan FHA loan Mortgages Closing costs 94

Redfin

MAY 11, 2022

But what does a bad credit score mean, and what are the types of home loans available to those with bad credit? Mortgage lenders and the Federal Housing Administration (FHA) look at a credit score range when considering a home mortgage loan. Scores this low can make finding a home loan challenging but not impossible. .

Pre-approval 66

Pre-approval Debt-to-income ratio VA loan FHA loan 66

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.

Pre-approval 71

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.

Purchase and sale agreement 70

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

Easy Agent Pro

NOVEMBER 9, 2021

They’ll need to be pre-approved, of course. November is the month in which we celebrate our veterans, so posts about the wonders of the VA loan are always welcome. November is the month in which we celebrate our veterans, so posts about the wonders of the VA loan are always welcome. post is a good idea.

Agents 116

Agents VA loan Pre-approval Loans 116

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Note that for government-backed first-time home-buyer loans such as FHA or USDA, it’s not just the buyer that must qualify, but the home, too — so check the requirements for your specific mortgage.

Loans 105

Loans VA loan FHA loan Purchase and sale agreement 105