Marco Santarelli

MARCH 4, 2025

15-Year Fixed: You'll pay it off faster and pay significantly less interest over the life of the loan. Adjustable-Rate Mortgages (ARMs): These typically offer a lower initial interest rate than fixed-rate mortgages, but the rate can adjust periodically based on market conditions.

Mortgages 95

Mortgages Debt-to-income ratio VA loan FHA loan 95

HomeLight

JUNE 22, 2023

Why, maybe it’s even dealing with the anxiety that comes while you’re waiting for closing day to finally come. All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. 2,000 / 8,333 ) X 100 = 0.36

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Marco Santarelli

DECEMBER 22, 2024

Adjustable Rates When considering the right mortgage type , borrowers frequently weigh fixed-rate mortgages against adjustable-rate mortgages (ARMs). Fixed-Rate Mortgages: These loans offer stability by locking in the interest rate for the entire duration of the mortgage (typically 15-30 years).

Mortgages 52

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

Marco Santarelli

MARCH 3, 2025

It is also important to know about geopolitical events, which might indirectly influence mortgage rates. Understanding Different Types of Mortgage Rates Let's break down the different types of mortgage rates you'll encounter: Fixed-Rate Mortgage: This is the most common type.

Mortgages 102

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

Realtor.com

FEBRUARY 2, 2022

You need to make sure the person you’re working with is aware of local transfer taxes and closing costs.” Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. When you retire, your lack of income may scare some lenders. Crunch the numbers.

Debt-to-income ratio 100

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

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. Rate locks typically last for 30 to 60 days. Treasury bonds.

Mortgages 63

Mortgages Debt-to-income ratio Loans Principal 63

Marco Santarelli

JANUARY 6, 2025

Generally, higher credit scores qualify for lower rates, while lower scores lead to higher rates. Lenders also consider debt-to-income ratios and down payment amounts when setting rates. Generally, fixed-rate mortgages tend to have higher initial rates compared to variable rates.

Mortgages 97

Mortgages Debt-to-income ratio Fixed-rate mortgage VA loan 97

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 FHA loan Debt-to-income ratio VA loan 98

HomeLight

MARCH 11, 2022

What about closing costs? But as Kevin Vitali , who has 14 years of experience selling Massachusetts real estate, explained, “Many first-time buyers don’t account for their closing costs.”. It’s important to remember closing costs when you purchase your first home. Maximum 38% debt-to-income ratio for most buyers.

Closing costs 111

Closing costs Debt-to-income ratio Fixed-rate mortgage Loans 111

Marco Santarelli

JANUARY 23, 2025

Mortgage Refinance Rates Refinancing can be a smart avenue for current homeowners looking to reduce their monthly payments or switch to shorter loan terms. 30-Year Refinance Current Rate: 7.12% Monthly Payment Calculation: At this rate, refinancing would yield payments of about $673.38

Mortgages 52

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

Realty Biz

MARCH 15, 2023

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. With higher interest rates, mortgages are more expensive.

Debt-to-income ratio 111

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

Realty Biz

JUNE 15, 2022

A fixed-rate mortgage is stable for 15 to 30 years, but rents may increase on average as much as 5% per year. . Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Student Loan Debt Must Be Paid off.

Debt-to-income ratio 98

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

Redfin

JULY 11, 2024

Loan type and terms: Different loan types (fixed, ARM, FHA, VA) and terms come with varying rates. Down payment amount: A larger down payment can lower your rate as it reduces the lender’s risk and the amount you need to borrow. Debt-to-income ratio: Lower ratios typically result in better rates.

Mortgages 71

Mortgages Fixed-rate mortgage Debt-to-income ratio Principal 71

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. In such scenarios, lenders may hesitate to lower rates, fearing an insecure market.

Mortgages 97

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

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

Redfin

AUGUST 12, 2024

These loans offer significant advantages, including no down payment, no PMI, and competitive interest rates. Additionally, VA loans have limited closing costs and no prepayment penalties. Higher credit scores typically secure lower interest rates, resulting in lower monthly payments and less paid over the life of the loan.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

Fixed-rate mortgage 88

Fixed-rate mortgage Equity Loans Debt-to-income ratio 88

Realty Biz

SEPTEMBER 30, 2023

In addition to credit scores, lenders also consider factors such as your income, employment history, savings, current debts, and the value of the home you intend to purchase. Demonstrating a stable income, sufficient savings, and a low debt-to-income ratio can strengthen your mortgage application, even with a low credit score.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

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

Redfin

FEBRUARY 11, 2021

For example, a fixed-rate mortgage carries less risk than an adjustable-rate mortgage and usually has a lower PMI premium. . These programs assist first-time homebuyers with down payment assistance and closing costs that can in turn help them avoid paying PMI.

Debt-to-income ratio 66

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

Marco Santarelli

AUGUST 18, 2024

In the long run, choosing a 15-year mortgage can lead to greater savings and shorter debt obligation. Let’s break this down further: Fixed-Rate Mortgages : The predictability of fixed rates is beneficial for budgeting. Aim to have a score above 740 to access better mortgage terms.

Mortgages 52

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

HomeLight

NOVEMBER 29, 2021

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. It stands to reason that If a home is close to amenities, the price will be higher than in areas further out of town. This program is available to first-time homebuyers in Burlington County to help with closing costs and down payment assistance.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

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 are closing costs?

Pre-approval 59

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

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.

Mortgages 52

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

Marco Santarelli

AUGUST 8, 2024

Here's how it works: Application: You apply for a new mortgage with a lender of your choice. Approval: The lender reviews your financial situation, credit history, and property value to determine your eligibility and interest rate. Compare rates and terms from multiple lenders to secure the most competitive offer.

Mortgages 52

Mortgages Debt-to-income ratio Equity Loans 52

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Here’s a research hack: HomeLight matches you with a top agent in your area with a demonstrated track record of closing deals and getting great results. Don’t forget to budget for closing costs.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

Marco Santarelli

FEBRUARY 20, 2025

A mortgage interest rate is essentially a fee for borrowing money from a lender. Types of Mortgage Rates Fixed-Rate Mortgages : These loans secure a specific rate for the entire term of the loan, meaning your monthly payment will remain steady, regardless of market fluctuations.

Mortgages 52

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

Marco Santarelli

APRIL 26, 2023

In contrast, during the 2008 financial crisis, interest rates dropped significantly to stimulate the economy and housing market. Furthermore, historical trends have shown that interest rates in the housing market are closely tied to the overall state of the economy.

Marketing 52

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

Real Estate Finance HQ

AUGUST 25, 2017

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. As with other mortgages, borrowers are allowed to work with state and local programs that provide help with down payments, closing costs and low-rate loans. Housing Ratio. Description.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

Marco Santarelli

FEBRUARY 26, 2025

Are you keeping a close eye on your Home Equity Line of Credit (HELOC) rates, wondering if you'll finally catch a break in 2025? The short answer is: it's looking promising that HELOC rates will likely go down in 2025, potentially by around 0.50%. The thing about HELOCs, though, is that most come with variable interest rates.

Debt-to-income ratio 52

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

The Close

DECEMBER 29, 2022

After all, great communication leads to closed deals. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Assumable mortgage.

Purchase and sale agreement 98

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

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.

Mortgages 85

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

Marco Santarelli

FEBRUARY 5, 2025

Here's a rundown of the most common options: 30-year fixed-rate mortgage: This is the most popular choice. The interest rate remains the same for the life of the loan, providing stability and predictability. Pay off debt: Lenders look at your debt-to-income ratio (DTI) when assessing your ability to repay a mortgage.

Mortgages 93

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

Marco Santarelli

FEBRUARY 14, 2025

As of February 14, 2025, mortgage rates have slightly increased. The average rate for a 30-year fixed-rate mortgage is now 6.92%, a small uptick of 0.01% from the previous week. This slight increase in rates is just one aspect of a complex and evolving housing market.

Fixed-rate mortgage 52

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

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. to significantly boost housing demand.

Mortgages 52

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

Marco Santarelli

FEBRUARY 10, 2025

The 30-year fixed-rate mortgage remains the most popular option among homebuyers, providing long-term security against rate increases. However, it's essential for prospective homebuyers to keep a watchful eye on these rates, as they can influence the overall affordability of homes and impact buying power.

Debt-to-income ratio 52

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