Marco Santarelli

APRIL 5, 2025

Mortgage rates, particularly for 30-year fixed-rate mortgages, often follow the trend of these Treasury yields. So, as tariffs and trade concerns create economic uncertainty, pushing investors towards bonds, we often see a corresponding decrease in mortgage rates. Are prices still rising rapidly?

Mortgages 95

Mortgages Principal Construction Investor 95

HomeLight

MAY 31, 2022

During the pandemic years, plunging interest rates were counter-balanced by rising home sales. Census Bureau and the Department of Housing and Urban Development (HUD), new home sales fell 16.6% Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. According to the U.S.

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Seller concession Closing costs Staging Sales 124

Marco Santarelli

JANUARY 25, 2025

There still aren't many houses for sale, though, which keeps prices supported. 30-year fixed (6.75%): If your main goal is to have consistent payments that wont change, this is a pretty safe bet. Adjustable-Rate Mortgages (ARMs): These loans have rates that are fixed for an initial period but then adjust based on market conditions.

Mortgages 69

Mortgages VA loan Fixed-rate mortgage Equity 69

HomeLight

AUGUST 26, 2020

Lower mortgage rates and lower payments are excellent reasons to refinance, but there are other reasons someone might want to consider refinancing. Converting an adjustable-rate mortgage to a fixed-rate mortgage. Use the equity in your home. Having a refinance appraisal is in your best interest.

Fixed-rate mortgage 144

Fixed-rate mortgage Equity Loans VA loan 144

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. And there are plenty out there: adjustable-rate mortgages, interest-only mortgages, 2-1 buydowns.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Marco Santarelli

APRIL 12, 2024

The average 30-year fixed mortgage rate has remained below 7% in 2024 , with expectations of a gradual decrease over the year, assuming the Federal Reserve implements anticipated interest rate cuts. However, it's important to consider closing costs and how long you plan to stay in your home before making this decision.

Mortgages 116

Mortgages Fixed-rate mortgage Loans Closing costs 116

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. And there are plenty out there: adjustable-rate mortgages, interest-only mortgages, 2-1 buydowns.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

Realty Biz

MARCH 5, 2021

For a lot of people, even saving up enough to cover a down-payment and closing costs is a daunting financial task. The NHF provides eligible homebuyers with up to 5% of their mortgage amount to help cover the down payment and closing costs. The second mortgage must be repaid in full upon sale or refinance.

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Closing costs Loans Renovation Fixed-rate mortgage 124

HomeLight

JANUARY 23, 2023

In 2022 alone, the Federal Reserve raised interest rates seven times to try to bring inflation down. Meanwhile, Freddie Mac reports the average interest rate on a 30-year fixed-rate mortgage is 6.27% as of early 2023 — up 3.22 Forbes reports the average 30-year fixed refinance rate to be even higher at about 6.84%.

Mortgages 105

Mortgages Fixed-rate mortgage Equity Loans 105

Real Trends

NOVEMBER 7, 2022

To incentivize homeownership, the government offers a mortgage interest tax deduction. Let’s say you get a 30-year fixed-rate mortgage of $350,000 with a 6.5% interest rate to buy a condo. Your payment for principal and interest would be close to $2,200 a month or $26,400 a year. Hedging against inflation.

Fixed-rate mortgage 98

Fixed-rate mortgage Agents Equity Principal 98

Realty Biz

JUNE 11, 2023

Buy Now: If you're considering purchasing a home in the near future and interest rates are low, it may be beneficial to buy now rather than wait. Remember, interest rates can change rapidly and unpredictably. Consider a Fixed Rate Mortgage: With a fixed-rate mortgage, the interest rate remains the same for the entire loan term.

Fixed-rate mortgage 81

Fixed-rate mortgage Closing costs Loans Principal 81

Realty Biz

AUGUST 12, 2023

Interest : The cost of borrowing money, expressed as a percentage of the loan amount. Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan. Closing Costs : Fees and other costs that need to be paid when closing on a house.

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Purchase and sale agreement Mortgages Pre-approval Title search 97

HomeLight

NOVEMBER 29, 2021

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. William Hagan , a New Jersey agent who typically sells homes more than 40% faster than the average agent in his area, warns that even a 20% down payment may not be enough to win a bidding war in the 2021 sales market. “In Homeowners taxes.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Realty Biz

NOVEMBER 12, 2022

In August 2021, the average 30-year interest rate for a fixed-rate mortgage was 2.7 Since then, the average interest rate has gone up four percentage points; someone trying to purchase a house today might be looking at a 30-year fixed-rate mortgage of nearly seven percent.

Fixed-rate mortgage 94

Fixed-rate mortgage Marketing Principal Closing costs 94

The Close

DECEMBER 5, 2024

These factors—purchase, rehab, carrying, and marketing and sales costs—will affect the total return on investment earned when selling the property to a new owner. Read along to learn how much it would cost to flip a house. Your real estate agent and the lender will break down your closing costs in a closing disclosure form.

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House Flipping Renovation Closing costs Hard money loan 98

HomeLight

SEPTEMBER 13, 2021

For example, a homeowner with a goal to pay off their loan as quickly as possible could benefit by refinancing from a 30-year mortgage to a 15-year term, even if the monthly payment increases. It’s all about what the borrower is trying to achieve,” comments Richie Helali, HomeLight’s Mortgage Sales Lead.

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Mortgages Equity Closing costs Loans 104

Redfin

SEPTEMBER 4, 2024

From application fees to closing costs, this Redfin article will discuss everything you need to know to help make this financial decision. What does it mean to refinance a mortgage? What exactly does it mean to “refinance a mortgage”? Learn more about today’s mortgage rates. the short answer is, “It depends.”

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

HomeLight

MARCH 22, 2022

All in all, North Carolina is homebuyer-friendly compared to the national median of a single-family home sale at $353,600 in 2021. “I This fee signals to the seller that you are a credible and worthy buyer who is on the brink of finalizing the sale. What about closing costs? NC Home Advantage Mortgage.

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Due diligence Closing costs Earnest money deposit Loans 105

Marco Santarelli

MARCH 31, 2025

This rate environment makes careful shopping and understanding your loan options even more critical. Fixed-rate mortgages (like the 15-year, 20-year, and 30-year options) keep the same interest rate for the entire loan term. This isn't always the case; sometimes refi rates are noticeably higher.

Mortgages 64

Mortgages Principal Loans VA loan 64

Realty Biz

MARCH 15, 2023

Limited Availability While more homes are available for sale than last year, fewer homes are available than expected in a balanced market. Mortgage Rates Interest rates had stayed low for a long time but began rising last year. For a 30-year fixed-rate mortgage, interest rates have averaged between 6% and 7% recently.

Debt-to-income ratio 111

Debt-to-income ratio Fixed-rate mortgage Mortgages Loans 111

Realty Biz

JANUARY 6, 2024

mortgage lenders will offer Illinois homebuyers a maximum of $6,000 to assist in acquiring a new home through the IHDAccess Forgivable program. IHDAccess Forgivable aims to aid borrowers who qualify for a loan but may face challenges in covering down payment and closing costs due to factors such as student loans or other financial burdens.

Fixed-rate mortgage 64

Fixed-rate mortgage Closing costs Lending Banks 64

Realty Biz

MARCH 30, 2023

Understand the Types of Mortgages, Interest Rates, and Fees Before you can get started, it's important to understand the different types of mortgages available and the associated interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 101

Mortgages Pre-approval Pre-qualification Due diligence 101

Redfin

APRIL 11, 2025

But the national average and the cost of houses for sale in your area can look drastically different. When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Homeowners might also get some tax breaks for mortgage interest and property taxes, which can save you some money.

Marketing 35

Marketing Land Equity Loans 35

Toronto Realty Blog

MAY 31, 2023

On a 5-year, fixed rate mortgage of 4.79% (the prevailing rate today), with a 30-year amortization, the monthly mortgage payment is $2,689.49. Here’s a sale from May of 2019 for a similar 1-bed, 1-bath in Liberty Village: A 20% down payment on a $550,000 purchase is $110,000. The taxes are $2,388.71

Fixed-rate mortgage 19

Fixed-rate mortgage Principal Investor Mortgages 19

HomeLight

JANUARY 27, 2021

Don’t forget to budget for closing costs. Closing costs are one-time costs that go along with your home purchase, and you pay them on — you guessed it — closing day. A lot of times people have no idea until they get the Loan Estimate that they have $15,000 to $20,000 worth of closing costs,” Ortman explains.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

Realtor.com

NOVEMBER 7, 2022

to “Purchase before X date, and we’ll pay all of your closing costs.”. Incentives are also commonly offered near the end of a project when there are only a few homes left to sell, since builders might be eager to close the books. Examples might range from “For a limited time, get $5,000 in designer upgrades!”

New Construction 76

New Construction Construction Finance Closing costs 76

Marco Santarelli

FEBRUARY 15, 2025

Sturtevant also emphasizes that “It will be very hard for the headline inflation number to reach the Feds 2% goal without a slowdown in housing costs. More housing supplyboth rental and for-sale housingis the key to easing housing costs and bringing the overall rate of inflation down.

Mortgages 52

Mortgages Fixed-rate mortgage Loans Finance 52

HomeLight

AUGUST 31, 2021

And because rent-to-own agreements tend to occur organically — they generally aren’t listed and marketed in the same way as conventional sales or rental offers — special terms can often be written in from the outset. That may be around the same or double what you’ll pay again in closing costs when you eventually get a mortgage on the house.

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Purchase and sale agreement Due diligence Closing costs Mortgages 124

HomeLight

AUGUST 31, 2021

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. Homeownership is a way to hedge against inflation by keeping housing costs static and predictable.

Closing costs 97

Closing costs Loans Equity Banks 97

HomeLight

JUNE 9, 2023

This quick calculation should give you a general figure to start with, but talk to an agent and a mortgage broker to get a clearer idea. To create a more informed budget, be sure to factor in existing debt, your savings, potential closing costs, student loan payments, child support, your current credit score, and so on.

Title 105

Title Loans Title search Inspection 105

Norada Real Estate

JUNE 22, 2022

They usually buy them at REO auctions, renovate them and rent them out to the tenants, before putting the property on the market for sale. As a cash buyer, you can also save on closing costs. You don't need to pay a bank attorney for the mortgage. Types of Mortgage Options For Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

HomeLight

JANUARY 31, 2022

It can also affect whether or not you’ll need mortgage insurance. You’ll want to subtract this amount from the total sales price because the down payment is your contribution to purchasing the house, so the lender won’t need to give you a loan to cover the full sales price because you’re covering some of it.

Loans 98

Loans Mortgages FHA loan Principal 98

Marco Santarelli

SEPTEMBER 25, 2024

Mortgage refinancing is the process of obtaining a new mortgage to replace your existing one, usually with better terms or lower interest rates. As of late, mortgage refinance applications have surged dramatically due to a consistent drop in interest rates, prompting many homeowners to reconsider their financial strategies.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Loans 52

Marco Santarelli

SEPTEMBER 4, 2024

Mortgage Refinance Demand Soars Key Takeaways 94% Increase: Mortgage refinance demand is 94% higher than a year ago ( CNBC ). Falling Rates: The average interest rate for 30-year fixed-rate mortgages is down to 6.43% , a slight decline from previous weeks.

Mortgages 52

Mortgages Fixed-rate mortgage Closing costs Loans 52

Marco Santarelli

APRIL 24, 2024

Housing prices might surge further while you wait patiently, potentially negating any benefits from a lower interest rate. According to a recent report by the National Association of Realtors (NAR) , existing-home median sales prices have risen year-over-year for 129 consecutive months.

Pre-approval 52

Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Redfin

SEPTEMBER 27, 2021

To finalize the purchase and paperwork, you will pay additional closing costs. Below are the common costs of buying a house. It commits you to the mortgage with a significant upfront investment. Remember to factor in closing costs. Step 3: Project the costs of owning a home .

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

Redfin

FEBRUARY 11, 2021

However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI). When you apply for a mortgage , your lender may ask if you’re going to put up 20% of the home’s sale price as a down payment. But what is PMI and how does it work? .

Debt-to-income ratio 66

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 66