Redfin

JULY 31, 2024

Understand loan options: Learn about different mortgages like conventional, jumbo, and government-backed loans (FHA, VA, USDA). Compare terms and interest rates to find the best fit for you. Choosing the right mortgage lender is a vital step in the home-buying process. Did you know?

Pre-approval 71

Pre-approval Pre-qualification Mortgages Loans 71

Realty Biz

FEBRUARY 7, 2023

Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. For example, do you want a 30-year fixed or adjustable-rate mortgage? A fixed-rate mortgage will give you more stability if you stay in the home longer.

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Pre-approval Mortgages Pre-qualification VA loan 77

Redfin

DECEMBER 15, 2023

In 2020, interest rates took a sharp dive as the Federal Reserve sought to stave off economic collapse amid the pandemic. The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%.

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Fixed-rate mortgage Mortgages Title search Equity 69

Marco Santarelli

APRIL 24, 2024

In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers. The Refinance Rescue: Potential Savings Down the Line Here's a silver lining: even if you buy a home now with a higher interest rate, you're not locked into that rate forever.

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Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

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. How does the mortgage pre-approval process work? What are closing costs?

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

Norada Real Estate

JUNE 22, 2022

As a cash buyer, you can also save on closing costs. You don't need to pay a bank attorney for the mortgage. Financing turnkey rental properties with cash means you don't need to put real estate taxes in escrow upfront nor pay for a mortgage application and loan origination fees. Fixed-rate mortgages.

Finance 96

Finance FHA loan Investor Loans 96

Marco Santarelli

AUGUST 3, 2024

Many first-time buyers underestimate the true cost of homeownership, overlooking the hidden expenses beyond the mortgage payment. Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment.

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Closing costs Inspection Pre-approval FHA loan 52

Marco Santarelli

AUGUST 15, 2024

Before we dive into the nitty-gritty, let's clarify the two major ways a 1% interest rate difference affects your mortgage: Short-Term: Monthly Payments Imagine you're eyeing a beautiful $250,000 home with a 30-year fixed-rate mortgage. Sarah secures a mortgage at 7% interest.

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Mortgages Fixed-rate mortgage Closing costs Loans 52

Realtor.com

JANUARY 19, 2022

Not only that, we were about to sign up for 30 years of fixed-rate mortgage payments. Don’t move money around, close bank accounts—or buy a new iPhone. One of the most frustrating parts of the homebuying experience was the mortgage vetting process after we had been pre-approved.

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Marco Santarelli

FEBRUARY 24, 2025

Before you jump into refinancing, take a hard look at your current mortgage. Is your existing rate lower than what's available today? Also remember to factor in closing costs when assessing the true cost of refinancing! Fixed-Rate Mortgages: The interest rate stays the same for the entire life of the loan.

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Mortgages VA loan Fixed-rate mortgage Principal 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. To finalize the purchase and paperwork, you will pay additional closing costs.

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Debt-to-income ratio Closing costs Loans Title 71

Redfin

JULY 10, 2023

Stable monthly payments Buying a home with a fixed-rate mortgage means that your monthly mortgage payments stay the same over the duration of your mortgage. While other monthly expenses may fluctuate, you’ll have peace of mind that your mortgage payments will stay stable.

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New Construction Equity Closing costs Purchase and sale agreement 59

Redfin

FEBRUARY 10, 2023

Stable monthly payments When you buy a home with a fixed-rate mortgage, you lock in your monthly housing expenses for the life of your mortgage. Reach out to various lenders to get pre-approval, which will provide you with insight into your financing options and costs that are specific to your situation.

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Equity Closing costs Mortgages Pre-approval 59

The Close

DECEMBER 29, 2022

Clients might be interested in an ARM because it allows borrowers to take advantage of interest rate decreases without having to go through a whole refinance process and pay additional closing costs. Closing costs. Clients will need an exact accounting of the total amount owed in closing costs.

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

Marco Santarelli

AUGUST 16, 2024

Understanding the Current Market: The Federal Reserve has been steadily raising interest rates to combat inflation, which has impacted mortgage rates. A year ago, in August 2023, the average 30-year fixed-rate mortgage was around 7.58%. Strategies to Afford a Home in a High Interest Rate Environment: 1.

Pre-approval 52

Pre-approval Fixed-rate mortgage Finance Loans 52

Marco Santarelli

FEBRUARY 22, 2025

If you locked in a mortgage when rates were higher, say even just a few months ago, refinancing at these lower rates could potentially save you a chunk of money over the long haul. Factor in closing costs and how long you plan to stay in your home to see if the savings outweigh the expenses. Let's Get Real.

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Mortgages Pre-approval Loans Debt-to-income ratio 84