Marco Santarelli

FEBRUARY 26, 2025

Are you glued to your screen, constantly refreshing to find out today's mortgage rates ? As of February 26, 2025, we've seen a welcome dip in mortgage rates. The average 30-year fixed-rate mortgage is currently sitting at 6.35%. Whats the best way to get a really good rate? A: Great question!

Mortgages 93

Mortgages VA loan Debt-to-income ratio Fixed-rate mortgage 93

Marco Santarelli

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. The Purchase Rate vs. Refinance Rate Dynamic: It's not uncommon for refinance rates to be slightly higher than purchase rates.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

Realtor.com

FEBRUARY 2, 2022

To help, we reached out to real estate professionals for tips on how retirees can find their golden years dream home, land a great mortgage, and still have plenty left in the bank for whatever surprises life delivers. Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders.

Debt-to-income ratio 100

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Marco Santarelli

MARCH 3, 2025

Here are a few key elements: The Federal Reserve (The Fed): The Fed sets the federal funds rate, which is the interest rate at which banks lend money to each other overnight. While this isnt directly the mortgage rate, it influences it. Inflation: When inflation rises, mortgage rates tend to rise as well.

Mortgages 102

Mortgages Fixed-rate mortgage Debt-to-income ratio Pre-approval 102

Marco Santarelli

MARCH 6, 2025

Decoding Mortgage Jargon: What Does It All Mean? Let's be real, the mortgage world is full of confusing terms. Let me break down some of the most important ones: Fixed-Rate Mortgage: The interest rate stays the same for the entire loan term. Shop Around: Don't settle for the first rate you're offered!

Mortgages 64

Mortgages Debt-to-income ratio Loans Principal 64

HomeLight

OCTOBER 15, 2020

Maximum debt-to-income ratio of 43% (this is known as DTI, and it looks at how much debt you pay each month versus how much income you bring in). Minimum down payment amount of 5% (or even as low as 3% for certain programs for low- to middle-income borrowers). Fixed-rate mortgage.

Loans 98

Loans Debt-to-income ratio FHA loan VA loan 98

Marco Santarelli

OCTOBER 14, 2023

According to Freddie Mac's Primary Mortgage Market Survey (PMMS) , which tracks the average rates for 30-year fixed-rate mortgages since 1971 , mortgage rates have ranged from a record low of 2.65% in January 2021 to a record high of 18.63% in October 1981.

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

Marco Santarelli

SEPTEMBER 30, 2023

According to Bankrate, the average FHA loan rate for credit scores of 680-699 is 5.531% as of September 30, 2023. However, it is important to note that interest rates can vary depending on a number of factors, including the loan amount, loan term, and the borrower's debt-to-income ratio.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

Point2Homes

NOVEMBER 8, 2020

As tempting as the current low rates are, it’s best to start off by asking yourself how refinancing your mortgage will benefit you. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage? Perhaps you’re looking for a lower interest rate, or to turn your 30-year loan into a 15-year one.

Debt-to-income ratio 75

Debt-to-income ratio Mortgages Fixed-rate mortgage Closing costs 75

Marco Santarelli

OCTOBER 6, 2024

Market Influences : Various economic factors—including decisions by the Federal Reserve, inflation trends, unemployment rates, and the impact of the upcoming election cycle—will significantly influence these mortgage rate predictions. On the flip side, when the Fed lowers rates, it generally makes home loans more affordable.

Mortgages 97

Mortgages Debt-to-income ratio Fixed-rate mortgage Banks 97

Redfin

SEPTEMBER 4, 2024

There are several reasons you might want to do so like to lower your interest rate, change your loan term, your credit’s improved, debt consolidation, converting an ARM to a fixed-rate mortgage, converting an FHA loan to a conventional loan, or freeing up cash via decreasing your home’s equity.

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

Realty Biz

DECEMBER 30, 2022

But not everyone has enough money stashed away in the bank to make an all-cash offer on a home. If you fall into this category, you'll need to learn how mortgages work. More specifically, you'll need to spend some time educating yourself on the different types of mortgage loans.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

Marco Santarelli

MARCH 27, 2025

Your Debt-to-Income Ratio (DTI): How much of your income goes to debt payments? Right now, in March 2025, the average 30-year fixed mortgage rate is around 6.65% according to Freddie Mac. However, after a set period (usually 5, 7, or 10 years), the rate adjusts based on market conditions.

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 52

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. The first step is understanding how much you can afford to spend on a mortgage.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

HomeLight

AUGUST 28, 2020

They set a baseline rate that most other rates are geared toward.” This rate is the overnight exchange rate, or the rate at which banks loan money to each other. The term “baseline rate” means the Fed rate is kind of like a jumping-off point. Your debt-to-income ratio.

Mortgages 104

Mortgages Loans Fixed-rate mortgage Principal 104

Redfin

JULY 11, 2023

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. What documents are typically required for a mortgage application?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

Marco Santarelli

APRIL 26, 2023

During times of economic growth and prosperity, interest rates tend to be higher as lenders seek to capitalize on favorable conditions. Conversely, during periods of economic downturn or recession, interest rates tend to be lower as the government and central banks attempt to stimulate borrowing and spending to jumpstart the economy.

Marketing 52

Marketing Debt-to-income ratio Fixed-rate mortgage Banks 52

Marco Santarelli

FEBRUARY 27, 2025

Mortgage rates are the cost associated with borrowing money from lenders to purchase a home. Understanding the different types of mortgage rates and their dynamics is vital for making informed financial decisions. Higher credit scores can lead to lower interest rates. Is 2.75% a good mortgage rate?

Mortgages 52

Mortgages Debt-to-income ratio Fixed-rate mortgage Loans 52

HomeLight

NOVEMBER 29, 2021

You must secure a mortgage through one of the program’s member banks and have an income that does not exceed 115% of the HUD median income requirements. Many VA loans offer a 30-year fixed-rate mortgage loan, competitive interest rates, and generally require no down payment.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Real Estate Finance HQ

AUGUST 25, 2017

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. Income: FHA mortgage loans require a steady source of income and consistent employment for at least two years. Cash in the bank. Debt-to-income ratio.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

Marco Santarelli

FEBRUARY 26, 2025

It's a flexible way to borrow money for things like home renovations, consolidating debt, or even unexpected expenses. The thing about HELOCs, though, is that most come with variable interest rates. This means your rate can change over time, unlike a fixed-rate mortgage where your rate stays the same for the life of the loan.

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Equity Fixed-rate mortgage 52

HomeLight

JANUARY 27, 2021

A lender with a local presence will likely know the ins and outs of your market better than a big bank, and they’ll have local relationships that will make closing your deal easier. Sure, you might have to pay a slightly higher rate to go with a local mortgage company, but you’ll also typically get more personalized service.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

The Close

DECEMBER 29, 2022

It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Debt-to-income ratio (DTI).

Purchase and sale agreement 98

Purchase and sale agreement Title Pre-approval Proof of funds 98

Marco Santarelli

FEBRUARY 22, 2025

The Good: Lower initial interest rates are the main appeal of ARMs. For a set period (like 5 or 7 years in the case of 5/1 and 7/1 ARMs), your rate is fixed, and often lower than a comparable fixed-rate mortgage. The Not-So-Good: Rate adjustments are the big risk. I cant stress this enough.

Mortgages 85

Mortgages Pre-approval Loans Debt-to-income ratio 85

Marco Santarelli

FEBRUARY 11, 2025

As of today, February 11, 2025, mortgage rates have experienced a slight decline, providing a glimmer of hope for prospective buyers in a challenging housing market. The average 30-year fixed-rate mortgage stands at 6.94% , which is a decrease of 0.06% from last week.

Mortgages 52

Mortgages Fixed-rate mortgage Debt-to-income ratio Loans 52