Marco Santarelli

MARCH 11, 2025

These shifts are primarily influenced by upcoming inflation data, which is projected to impact future interest rates. Homebuyers and those looking to refinance should keep a close watch on these trends. Fixed-Rate Mortgages : As mentioned, fixed-rate mortgages provide stability by locking in your interest rate for the loan's duration.

Fixed-rate mortgage 52

Fixed-rate mortgage Mortgages VA loan FHA loan 52

HomeLight

NOVEMBER 20, 2023

Along with the obvious advantage of a lower interest rate, an assumed loan can also come with fewer transaction fees and greater speed. There are typically fewer fees involved when you do an assumable mortgage rather than a new origination. Generally, government-backed or insured loans are the most common assumable loans.

FHA loan 115

FHA loan Mortgages VA loan Loans 115

Marco Santarelli

DECEMBER 22, 2024

Comparing Different Mortgage Products The mortgage market is diverse, ranging from fixed-rate loans to adjustable-rate mortgages (ARMs). Heres a closer look at these options: Fixed-Rate Mortgages : These loans offer stable monthly payments and are often the go-to option for many homeowners.

Mortgages 52

Mortgages Equity Fixed-rate mortgage Loans 52

HomeLight

OCTOBER 15, 2020

Here’s a quick rundown of the three major government-backed loans. FHA loans : These are mortgages offered by the Federal Housing Administration , and they’re geared toward buyers with lower credit scores who don’t qualify for a conventional loan. Fixed-rate mortgage. Move in and start paying.

Loans 98

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

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

DECEMBER 21, 2024

Analysis of Mortgage Types Understanding the different types of mortgages available is crucial as they have varied implications on your financial future. 30-Year Fixed Mortgages The 30-year fixed-rate mortgage remains the most popular choice among homebuyers. Cons : Future payments unpredictability.

Mortgages 52

Mortgages VA loan Loans FHA loan 52

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.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

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

HomeLight

SEPTEMBER 30, 2020

A refinance is just another way of saying that you’re trading in your current mortgage loan for a new one. That said, if you want to refinance for a 15-year mortgage instead of a 30-year mortgage, or a custom length of time, many mortgage lenders can and will be flexible with your terms. Drawbacks of refinancing.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Redfin

AUGUST 12, 2024

These loans have more relaxed credit score requirements and lower down payment options, with down payments as low as 3.5% However, FHA loans require both an upfront mortgage insurance premium (MIP) and monthly MIP payments, which can increase the overall cost of the loan.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

Realty Biz

SEPTEMBER 30, 2023

These lenders understand the challenges you might be facing and are willing to work with you to find a suitable mortgage option with scores down to 500. Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

Realty Biz

APRIL 11, 2022

My sister and I are close, but we don’t have any other family that we trust to give us advice. The basic process begins by asking questions like what type of mortgage is best for you? A 30-year fixed rate mortgage is the most common for first-time buyers. Points are usually stated as a percentage of the loan.

Mortgages 90

Mortgages Fixed-rate mortgage Loans FHA loan 90

Realty Biz

JANUARY 3, 2023

The truth is that the interest rate is only one variable to consider when you’re estimating mortgage costs. Real estate experts say home buyers should pay close attention to the APR. These loans are usually paid back as part of your mortgage. Homebuyers Are Looking at Different Types of Loans.

Mortgages 96

Mortgages VA loan Loans FHA loan 96

Realty Biz

DECEMBER 31, 2020

One of the major benefits of owning a home is that, if you have a fixed-rate mortgage, your payments won’t increase. What’s more, when you have paid off the interest early on in your loan, your monthly payments go toward the value of your home. Closing fees. However, only specific people can apply for these loans.

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Loans Finance FHA loan Fixed-rate mortgage 93

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.

Pre-approval 77

Pre-approval Mortgages Pre-qualification VA loan 77

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”? As a general rule, refinancing closing costs are typically 2-6% of the loan’s value.

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

Realty Biz

FEBRUARY 21, 2021

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.74% in January, up from 2.68% in December. The average commitment rate across all of 2020 was 3.11%. Lack of access to mortgage loans continues to inhibit further growth of the existing condominium market.

Sales 90

Sales Short sale FHA loan Fixed-rate mortgage 90

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! 200,000 Mortgage : Around $1,264 per month (principal and interest). It eats up a lot of your savings.

Mortgages 52

Mortgages VA loan Fixed-rate mortgage Principal 52

HomeLight

JANUARY 31, 2022

There are many mortgage programs that offer you the ability to put down far less — even nothing in certain cases! If you need to have a smaller down payment, see if you meet the criteria for any of the following loan programs: FHA loans can be approved with just 3.5% as a down payment. Are you getting an ARM or an FRM?

Loans 98

Loans Mortgages FHA loan Principal 98

Marco Santarelli

APRIL 24, 2024

Refinancing essentially allows you to replace your current loan with a new one with a lower interest rate, potentially bringing substantial relief to your monthly payments. It's important to consider any associated fees with refinancing, such as closing costs, to ensure it makes financial sense in your situation.

Pre-approval 52

Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Realty Biz

APRIL 8, 2024

What Are Closing Costs? Answer: Closing costs are fees for finalizing the mortgage, including appraisal fees, title insurance, and more. They typically range from 1% to 3% of the loan amount. No seller wants to take their home off the market if a buyer can’t prove they can obtain a mortgage. And a few even less.

Pre-qualification 56

Pre-qualification Pre-approval Closing costs Inspection 56

Marco Santarelli

AUGUST 3, 2024

Many first-time buyers underestimate the true cost of homeownership, overlooking the hidden expenses beyond the mortgage payment. Common Mistakes: Not Calculating the Total Cost: Ignoring closing costs, property taxes, homeowners insurance, maintenance expenses, and potential unexpected repairs can lead to financial strain down the line.

Closing costs 52

Closing costs Inspection Pre-approval FHA loan 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

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

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. Interest Rates : Compare the offered rates and terms from multiple lenders.

Mortgages 52

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

Marco Santarelli

AUGUST 8, 2024

Here are some scenarios where refinancing could be beneficial: Homeowners with Existing Mortgages Above 6% : If you currently have a 30-year fixed rate mortgage at 7.5% , refinancing to a 30-year fixed rate at 6.56% can result in substantial monthly savings.

Mortgages 52

Mortgages Fixed-rate mortgage VA loan FHA loan 52

Real Estate Finance HQ

AUGUST 25, 2017

This guide outlines the types of, as well as the necessary qualifications for, FHA loans. What is a FHA Loan? The FHA, a unit of the Department of Housing and Urban Development, was created in 1934 specifically to help low- and moderate-income families obtain financing for home ownership. Mortgage Insurance.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

Redfin

JULY 31, 2024

Avoid new credit : Refrain from opening new accounts or closing old ones before applying for a mortgage. Calculate potential costs: Include property taxes, insurance, lender fees, closing costs, and down payments in your budget. Fees : Look at origination fees, application fees, closing costs, and mortgage points.

Pre-approval 71

Pre-approval Pre-qualification Mortgages Loans 71

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. FHA loans: as low as 3.5%. USDA loans (for rural property owners): no down payment required.

Closing costs 97

Closing costs Loans Equity VA loan 97

Marco Santarelli

NOVEMBER 19, 2024

Understanding Why Rates Are Increasing Several factors contribute to the current rise in mortgage rates. Furthermore, the surge in rates emphasizes the critical link between job growth and borrowing costs, demonstrating how closely tied the housing market is to broader economic indicators.

Mortgages 52

Mortgages FHA loan Fixed-rate mortgage Finance 52

Marco Santarelli

JANUARY 7, 2025

For instance, international conflicts or trade agreements can lead to uncertainty in the markets, influencing how investors behave regarding Treasury bonds, which mortgage rates often track closely. Government Policies : Changes in housing market regulations or fiscal policies can also shape mortgage rates.

Mortgages 52

Mortgages Loans Finance FHA loan 52

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%. Are there any government programs that can help me afford a home?

Pre-approval 52

Pre-approval Fixed-rate mortgage Finance Loans 52

Housing Wire

NOVEMBER 13, 2024

Purchase loan demand drove the slight increase in the MBA’s Market Composite Index, which measures loan application volumes. Refinances, however, were down 2% as mortgage rates continue to climb close to 7%, according to HousingWire ‘s Mortgage Rates Center. during the week.

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FHA loan Mortgages VA loan Fixed-rate mortgage 370

Marco Santarelli

NOVEMBER 6, 2024

Understanding Today's Mortgage Rates This week, the average mortgage rates illustrate a landscape that has been heavily influenced by political events and the expectations surrounding the Federal Reserve's policy actions.

Mortgages 98

Mortgages Fixed-rate mortgage Investor VA loan 98

Marco Santarelli

FEBRUARY 1, 2025

Today's Mortgage Rates February 1, 2025: Rates Drop Again Key Takeaways Current Average Rates : 30-year fixed: 6.59% 15-year fixed: 5.89% 30-year FHA: 6.29% 30-year VA: 6.06% Inflation Impact : Elevated inflation makes significant rate drops less likely in the near future.

Mortgages 96

Mortgages VA loan Fixed-rate mortgage FHA loan 96

Marco Santarelli

FEBRUARY 22, 2025

If you're looking for something shorter, a 15-year fixed is significantly lower at 5.83%. For our veterans, VA loans are looking particularly attractive with rates under 6%. And FHA loans, often popular with first-time buyers, are also offering competitive rates. Refinancing? Let's Get Real.

Mortgages 85

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

Marco Santarelli

FEBRUARY 7, 2025

Recommended Read: Mortgage Rates Trends for February 6, 2025 Mortgage Rates Drop Ahead of Upcoming Labor Report on Friday Will Trump Lower Mortgage Interest Rates in 2025? My Opinion: I generally recommend a fixed-rate mortgage if you can afford it. But it's not the only option.

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Mortgages VA loan Fixed-rate mortgage Loans 105