The Mortgage Report

JUNE 23, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan 40

FHA 203k rehab loan Mortgages VA loan FHA loan 40

The Mortgage Report

JUNE 9, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan 55

FHA 203k rehab loan FHA loan VA loan Pre-approval 55

Marco Santarelli

APRIL 30, 2025

The lower interest rates mean borrowers can save significantly on interest paid over the life of the loan. Moreover, paying off the loan in half the time allows homeowners to build equity more quickly. Homeowners also need to factor in refinancing costs, like closing costs and how long they plan to stay in their homes.

VA loan 59

VA loan Mortgages FHA loan Loans 59

Real Trends

NOVEMBER 11, 2022

“With housing affordability at an all-time low and interest rates on the climb, it’s important that homeowners have alternative options to access their home equity without selling or taking on additional debt,” said Michael Gifford, CEO of Splitero , a financial technology company that helps homeowners access home equity. .

Finance 113

Finance VA loan FHA loan Agents 113

Lab Coat Agents

MAY 1, 2024

VA loan assumptions offer a fantastic opportunity for your clients to save thousands on their mortgage in a rising interest rate environment. What is a VA Loan Assumption? What is a VA Loan Assumption? This can provide significant savings compared to taking out a new loan at prevailing market rates.

VA loan 52

VA loan Loans Debt-to-income ratio FHA loan 52

Marco Santarelli

JUNE 15, 2025

This includes not just the interest rate, but also other fees associated with the loan, giving you a more accurate picture of the total cost. Loan Type Matters: As you can see, rates vary significantly based on the type of loan. Jumbo loans, which are for larger loan amounts, typically have higher rates.

Mortgages 52

Mortgages Closing costs Loans VA loan 52

Marco Santarelli

DECEMBER 22, 2024

Mortgage refinance rates hold significant importance for homeowners who aim to lower their monthly payments or leverage their home equity for new financial opportunities. A robust economy can lead to higher interest rates, as lenders anticipate increased demand for loans. Higher credit scores typically lead to lower interest rates.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Loans 52

HomeLight

JANUARY 30, 2024

Refinancing your house means replacing your existing mortgage with a new loan, typically with different terms and interest rates. This financial move is often aimed at reducing monthly mortgage payments, changing the loan’s duration, or tapping into home equity for large expenses.

Mortgages 115

Mortgages Closing costs Equity VA loan 115

Marco Santarelli

JUNE 20, 2025

What's your current interest rate, loan term, and monthly payment? How much equity do you have in your home? Factor in all the costs involved, such as appraisal fees, closing costs, and any prepayment penalties on your existing loan. For example, are you paying on an interest rate higher than 8%?

Mortgages 52

Mortgages Fixed-rate mortgage Equity Loans 52

Point2Homes

DECEMBER 15, 2021

the most common types of assumable mortgages are government-backed loans such as the Department of Veterans Affairs (VA), Federal Housing Authority (FHA) and U.S. Department of Agriculture (USDA) loans. Here are some key factors to keep in mind about each: VA Loans. In the U.S.,

Debt-to-income ratio 109

Debt-to-income ratio VA loan Mortgages FHA loan 109

RIS Media

AUGUST 10, 2021

By increasing access to banking, credit-building opportunities and, ultimately, home financing, more Detroit residents will be able to build equity through homeownership, which increases neighborhood stability and opportunity for future generations.” . “Today, we are doubling down on that commitment.

Mortgages 98

Mortgages VA loan Equity Banks 98

HomeLight

JULY 31, 2022

Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan.

VA loan 95

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

Marco Santarelli

MARCH 20, 2025

15-Year Fixed: If you're looking to build equity faster and save on interest , a 15-year fixed mortgage is a solid option. Be prepared for higher monthly payments compared to a 30-year loan. These loans often come with no down payment requirements and competitive interest rates.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

HomeLight

AUGUST 26, 2020

Use the equity in your home. The real estate market is always changing, and if your home has increased in value , you may want to consider refinancing and tap into the equity in your home. However, if you are worried about the appraisal cost, you may be in luck. USDA Streamlined Assist Refinance Loans.

Fixed-rate mortgage 144

Fixed-rate mortgage Equity Loans VA loan 144

Redfin

JANUARY 28, 2025

However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home. The seller must also be in good standing with their loan, meaning it cannot be delinquent.

Loans 31

Loans Mortgages VA loan Title search 31

Realty Biz

JULY 20, 2022

However, once you have 20% equity in the property, you can apply to have this removed. USDA Loans. If you are a veteran or currently serving, the Department of Veterans Affairs offers no down payment home loans. Along with zero down, it offers lower interest rates and closing costs.

Loans 131

Loans FHA loan VA loan Renovation 131

Norada Real Estate

JUNE 22, 2025

Refinancing Options in Today’s Market Refinancing remains a viable option for homeowners looking to either lower their monthly payments or tap into their home equity. Fixed-rate loans provide stability in monthly payments, ideal for those looking for predictability over a long term.

Mortgages 52

Mortgages Loans VA loan FHA loan 52

HomeLight

NOVEMBER 29, 2021

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. Many people can make their monthly house payments, but it can be difficult to come up with the money for a down payment and closing costs to buy a new home in the first place. Types of down payment assistance available in New Jersey.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Redfin

JUNE 27, 2025

Key takeaways: Your first-time home buyer benefits include down payment and closing cost assistance, grants, tax benefits, and low-interest or forgivable loans. Many programs offer low-interest or no-interest loans to cover down payments or closing costs. Grants Unlike loans, grants don’t need to be repaid.

Debt-to-income ratio 31

Debt-to-income ratio Closing costs Loans Finance 31

Lab Coat Agents

NOVEMBER 20, 2024

The property must generally be the seller’s primary residence, and the buyer must move into the property within 60 days of closing and live in the property as their primary residence for at least one year. VA loans provide a significant benefit, as they can be assumed by anyone, not just military personnel or veterans.

Purchase and sale agreement 98

Purchase and sale agreement Mortgages Pre-approval VA loan 98

Realty Biz

JANUARY 11, 2023

For example, if you purchase a home that costs $200,00 and put down 10%, you'll need to come up with $20,000. Paige Schulte Realtor and Digital Marketer says : Buyers should plan on saving funds for closing costs (around 2-3% of purchase price) plus a downpayment. Closing Costs. Down Payments Based on Loan Types.

FHA loan 81

FHA loan VA loan Closing costs Loans 81

HomeLight

AUGUST 31, 2021

PMI can be dropped when you reach 20% equity by paying down your loan principal. Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. They might include your estimated monthly mortgage payment , or even projected closing costs.

FHA loan 105

FHA loan VA loan Loans Loan Officer 105

Marco Santarelli

MARCH 31, 2025

VA loans are a fantastic benefit for eligible veterans, active-duty service members, and surviving spouses. They often feature competitive interest rates (like the 6.09% 30-year VA rate today) and typically don't require a down payment. This makes the decision less clear-cut, underscoring the need to compare offers carefully.

Mortgages 64

Mortgages Principal Loans VA loan 64

Real Trends

MAY 9, 2023

Be an advocate for local broker marketplaces and how the way commissions are paid create competitive, efficient markets for small businesses and ensure equity, transparency and market-driven pricing for home buyers and sellers. Advocate for local broker marketplaces Local MLS broker marketplaces create accessibility and ensure equity.

MLS 100

MLS VA loan Equity Agents 100

HomeLight

MARCH 9, 2023

Closing the homeownership gap is integral to enabling communities of color to also close the wealth gap. Federally, Congress has introduced the Downpayment Toward Equity Act. If the bill passes, the act will provide eligible homebuyers up to $25,000 cash for a down payment, closing costs, and other home-buying fees.

Loans 96

Loans Debt-to-income ratio VA loan FHA loan 96

HomeLight

SEPTEMBER 1, 2022

GSFA Platinum® Down Payment Assistance Program – Down payment and closing cost assistance up to 5.0% of the mortgage loan amount. GSFA OpenDoors® Down Payment Assistance Program – Down payment and/or closing cost assistance up to 7% of mortgage loan amount. City-specific options.

Earnest money deposit 115

Earnest money deposit VA loan FHA loan Loans 115

HomeLight

JULY 7, 2022

If you can’t afford a 20% down payment on your home and apply for a conventional loan, you’ll have to have private mortgage insurance (PMI) to cover the costs, or just plain mortgage insurance for a government loan (FHA loans or VA loans , for example). PMI will typically cost between 0.5%

Debt-to-income ratio 122

Debt-to-income ratio Closing costs FHA loan Loans 122

HomeLight

JUNE 22, 2023

If you’re going to buy a home, you’ll need enough savings for a down payment, closing costs, and financial experts advise that you should also have enough money left over in your savings accounts to cover at least three months of expenses in case of an emergency. It usually costs between 0.5% to 1% of the loan amount annually.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. Plus, it only costs between 0.5% and 1% of your loan amount, annually.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

HomeLight

JUNE 21, 2023

“A lot of times, these are first-time homebuyers who are wanting to purchase a home, but the extra $6,000 to $8,000 in closing costs can be the difference between them being able to really qualify for the home,” says Jon Baird , an agent based in Chico, California, who specializes in single-family homes. Retired teachers can apply.

Loans 98

Loans Debt-to-income ratio FHA loan Closing costs 98

HomeLight

NOVEMBER 29, 2021

There are three kinds of USDA loans: Guaranteed USDA Loans (loans from approved lenders that are guaranteed by the USDA), Direct USDA Loans , and housing repair loans and grants. Home loan benefits and housing programs offered through the U.S. Source: (Daniel Santiagø / Unsplash).

Earnest money deposit 110

Earnest money deposit FHA loan Purchase and sale agreement Inspection 110

Redfin

APRIL 11, 2025

In the past, many homeowners stayed in their starter homes for around three to seven years building equity. One of the biggest advantages of buying a starter home is that you start building equity , which is like a long-term savings plan. Property taxes and upkeep costs are also usually lower for a smaller home.

Marketing 35

Marketing Land Equity Loans 35

Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Your Only Upfront Costs Are a Down Payment.

Debt-to-income ratio 98

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 98

HomeLight

JANUARY 22, 2024

Matt Megel , managing partner with CAZA Group , which sells homes 85% faster than the average Virginia agent, says that unlocking their home’s equity on a budget is one of the main drivers for homeowners wanting to sell their property “as is.” “One The second reason we come across is speed and convenience.

As-is 110

As-is Inspection Renovation Equity 110

HomeLight

NOVEMBER 29, 2021

If the housing market is strong and prices keep going up beyond what’s anticipated, this could mean you start your homeownership journey with some equity stacked up. Divvy buys the house in cash and covers all necessary fees, closing costs, taxes, and insurance, and then rents it to the client.

Purchase and sale agreement 105

Purchase and sale agreement FHA loan Loans VA loan 105

HomeLight

MAY 14, 2024

Here’s what you typically need for various loan types: FHA loans: Minimum credit score of 580 for 3.5% VA loans: No set credit score requirement, but lenders typically prefer 620+. USDA loans: Generally require a score of 640 or highe r for streamlined processing. down payment ; 500-579 for 10% down.

VA loan 64

VA loan FHA loan Loans Closing costs 64

HomeLight

AUGUST 31, 2021

Monthly mortgage payments offer built-in savings through equity gains. You’ll want to be sure you’ve kept the home long enough to recoup your transaction costs — real estate agent fees, closing costs, and any repairs or maintenance done to the home to prepare for sale. FHA loans: as low as 3.5%.

Closing costs 97

Closing costs Loans Equity Banks 97