Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Marco Santarelli

DECEMBER 21, 2024

If you're asking yourself “Should I refinance my mortgage now or wait for 2025?”, Mortgage rates are showing some instability right now, but major reductions are unlikely anytime soon. Should I Refinance My Mortgage Now or Wait Until 2025? But trust me, theres a lot to unpack here. We all want to save money, right?

Debt-to-income ratio 52

Debt-to-income ratio Mortgages Loans Equity 52

Marco Santarelli

DECEMBER 11, 2024

Mortgage rates have climbed today as the market anticipates the report from the Consumer Price Index (CPI) set to be released later today. As of December 11, 2024, the national average for the 30-year fixed mortgage rate is 6.26% , while the 15-year fixed rate has risen to 5.62%.

Mortgages 52

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

Marco Santarelli

FEBRUARY 7, 2025

. “Subprime” mortgages were rampant, meaning loans were given to people with poor credit or insufficient income. These mortgages often had adjustable rates that soared after a few years, leaving many homeowners unable to afford their payments. 2025: Lending standards have tightened significantly since the crash.

Pre-approval 87

Pre-approval Marketing Debt-to-income ratio Lending 87

Marco Santarelli

DECEMBER 22, 2024

Mortgage rates are a critical consideration for anyone looking to borrow money for a home. As of December 22, 2024, the average 30-year fixed mortgage rate has increased to 6.67% , marking its highest point since June 2024. Recommended Read: Mortgage Rates Trends December 21, 2024 Update What's Influencing Today's Mortgage Rates?

Mortgages 52

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

Marco Santarelli

MAY 27, 2024

Soaring mortgage rates in 2024? Let's face it, today's mortgage rates can sting. There's a little-known weapon in your arsenal: the assumable mortgage. An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan.

Debt-to-income ratio 96

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

HomeLight

JUNE 22, 2023

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. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Realty Biz

AUGUST 20, 2023

Mortgage pre-approval is an essential step when buying a house. During pre-approval, lenders carefully evaluate your financial information, including income, assets, credit history, and other relevant details. How long it takes for lenders to give mortgage pre-approval can vary from a day to a week.

Pre-approval 94

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HomeLight

DECEMBER 5, 2023

A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. Bridge loans can be pricier than regular mortgages, but they’re designed to be your speedy and hassle-free ticket to that new home. Now, let’s talk numbers.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Realtor.com

AUGUST 26, 2020

Andrei Stanescu / iStock Some mortgage lenders are asking customers taking out a mortgage to confirm they don’t intend to seek forbearance, a move meant to keep losses low during a pandemic that has put millions of Americans on shaky financial footing. For mortgage lenders, the forbearance penalty is an added concern.

Loans 102

Loans Debt-to-income ratio Mortgages Purchase and sale agreement 102

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

HomeLight

NOVEMBER 3, 2023

Enter the bridge loan — a strategic, short-term financing solution designed to help you purchase that new dream home without waiting for your old one to sell. However, it’s essential to note that bridge loans can come at a higher cost than traditional mortgages. But what if there was a smoother pathway?

Equity 116

Equity Loans Debt-to-income ratio Home sale contingency 116

HomeLight

OCTOBER 25, 2023

At its core, a bridge loan is a short-term financial solution designed to help you buy your next Arizona home before you’ve sold your current one. Often referred to as a swing or interim loan, a bridge loan is usually pricier than your regular mortgage. The reason? However, there’s a silver lining.

Equity 111

Equity Loans Debt-to-income ratio Closing costs 111

HomeLight

SEPTEMBER 1, 2022

Student loan debt doesn’t make it impossible to live out your dream of homeownership; it just makes it a bit more difficult because of its impact on your debt-to-income ratio (DTI), credit score, and down payment savings. The longer answer is that it could affect your chances of obtaining an affordable mortgage.

Debt-to-income ratio 104

Debt-to-income ratio Loans FHA loan Equity 104

RIS Media

MAY 5, 2021

Private mortgage insurance (PMI) will be required in most cases if you put down less than 20% of the purchase price when you buy a house. You will have to pay monthly premiums, but the insurance won’t protect you; it will protect your lender if you default on your mortgage payments. Boost Your Credit Score Before You Buy a House.

Debt-to-income ratio 80

Debt-to-income ratio Mortgages Loans Equity 80

HomeLight

NOVEMBER 7, 2023

Enter the bridge loan, a financial tool designed to bridge this very gap. In many cases, the financial institution where you’re seeking a mortgage for your new Oklahoma home will manage your bridge loan as well. But what if you could seamlessly transition from your current home to the next?

Equity 115

Equity Loans Debt-to-income ratio Home sale contingency 115

HomeLight

NOVEMBER 29, 2023

A bridge loan is a short-term financial solution designed to “bridge the gap” between selling your existing home and purchasing your new one. While they tend to be pricier than traditional mortgages, bridge loans offer a quick and convenient way to secure your new home without the wait to sell your old one.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

RIS Media

JUNE 5, 2021

Homeowners who haven’t capitalized on historically low mortgage rates are getting another chance to lower their monthly payments under Fannie Mae’s new RefiNow option. The program offers low-income homeowners with Fannie Mae-backed mortgages an opportunity to refinance and save money on their loan payments.

Debt-to-income ratio 111

Debt-to-income ratio Loans Mortgages Design 111

HomeLight

AUGUST 31, 2020

Don’t let the name fool you: areas designated for Rural Development loans can be closer to cities than you might expect. Many offer down payment grants, no-down-payment mortgages, and low interest rates. If you haven’t owned a home in the past three years, you can apply for a mortgage as a first-time buyer. OK, it’s a good idea.

Debt-to-income ratio 93

Debt-to-income ratio FHA loan Pre-qualification VA loan 93

Marco Santarelli

APRIL 28, 2023

The Federal Housing Finance Agency (FHFA) recently announced changes to the loan-level price adjustments (LLPAs) for borrowers with conventional mortgages backed by Fannie Mae or Freddie Mac. The changes, which are set to take effect on May 1, 2023, will impact the pricing structure of mortgages for borrowers.

Mortgages 98

Mortgages Debt-to-income ratio Loans Finance 98

HomeLight

DECEMBER 15, 2023

A bridge loan is a practical, short-term financing solution designed to “bridge the gap” for homeowners like you. While bridge loans generally carry higher costs than traditional mortgages, they offer a quick path to purchase your new home without the wait and uncertainty of selling your old home first.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 14, 2023

Bridge loans are typically more expensive than traditional mortgages due to their convenience and quick availability. They are designed as a short-term solution, allowing you to move forward with your new purchase without having to wait for your old home to sell. The lender for your new mortgage will usually handle the bridge loan.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 29, 2023

A bridge loan is a short-term financial tool designed to “bridge the gap,” enabling you to purchase a new home before you’ve sold your current residence. Though they generally come with higher costs than traditional mortgages, bridge loans offer speed and convenience in exchange for a more expensive rate.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 15, 2023

A bridge loan is a temporary solution designed to “bridge the gap” between selling your current home and buying a new one. Although they tend to be pricier than traditional mortgages, bridge loans offer flexibility when trying to secure your new home purchase without waiting to sell your old one. How does a bridge loan work in Austin?

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

Redfin

SEPTEMBER 6, 2024

When it comes to finding the right balance between saving, spending, and investing, one of the biggest questions many people face is how much of their income should be allocated to their mortgage. In this article, we’ll explore recommendations and practical tips to help you determine a mortgage budget that works for you.

Debt-to-income ratio 69

Debt-to-income ratio Mortgages VA loan Principal 69

Marco Santarelli

AUGUST 24, 2024

Securing a mortgage with a less-than-perfect credit history can feel like scaling a mountain, but it's definitely achievable, especially with an FHA loan. Let's debunk some common ones: Myth: I need perfect credit to qualify for a mortgage. Dreaming of owning your own home, but worried about your FHA credit score requirements ?

FHA loan 98

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

HomeLight

MARCH 9, 2023

to 10%, depending on credit score) Low closing costs Relaxed credit score requirements (500 to 620) You may have to pay Private Mortgage Insurance (PMI) as a condition of an FHA loan. An FHA 203(K) loan insures mortgages for purchasing and rehabbing a home. Citi Citi has the HomeRun Mortgage program available.

Loans 96

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

HomeLight

NOVEMBER 29, 2023

This short-term financing option is designed to help you bridge the gap, allowing you to buy your new home in Washington state before you’ve sold your current one. Also known as bridging loans, swing loans, or gap financing, these loans are designed to ‘bridge’ the financial gap during your home transition.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 29, 2023

Designed as a short-term financing solution, a bridge loan enables you to purchase your new Wisconsin home before you’ve sold your current one, easing the transition and keeping you on track toward your real estate goals. The lender handling your mortgage for the new home will often manage your bridge loan.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 21, 2023

A bridge loan is essentially a financial tool designed to help you, the homeowner, when you’re caught in the common dilemma of needing to buy a new home before selling your existing one. Your lender will likely assess your debt-to-income ratio (DTI) to determine your eligibility for a bridge loan.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 29, 2023

It’s a short-term loan designed to bridge the gap during the transition period of buying a new home while still selling your current one. While they are typically more expensive than traditional mortgages, bridge loans offer a swift and convenient solution, allowing you to purchase your new home without waiting for your old one to sell.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 29, 2023

A bridge loan is a short-term financing solution designed to bridge the gap, allowing you to purchase your new Hawaiian dream home before you’ve sold your current one. Each term refers to the same financial tool designed to help you smoothly transition between homes. But what if there was a smoother way to transition?

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

DECEMBER 6, 2023

Designed as a short-term financing option, bridge loans empower you to secure your next home in Houston before you’ve sold your existing one, simplifying the buy-sell process significantly. It’s designed to assist you, the homeowner, during the overlap period of selling your home and buying a new one in Houston.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 15, 2023

Enter the bridge loan – a short-term financial solution designed to bridge the gap. Keep in mind, due to their short-term nature and the risk involved, bridge loans often carry slightly higher interest rates than traditional mortgages. A crucial factor in this process is your debt-to-income ratio (DTI).

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 21, 2023

A bridge loan is essentially a short-term financial boost, designed to help you, the homeowner, navigate the period between buying a new home and selling your existing one. Bridge loans usually have higher interest rates compared to traditional mortgages, given their short-term nature and the risk they carry for lenders.

Equity 115

Equity Loans Debt-to-income ratio Staging 115

HomeLight

NOVEMBER 30, 2023

This short-term financing option is designed to help you purchase your new home in Maine before selling your old one, easing the transition and aligning the pieces of your real estate journey more smoothly. The financial institution arranging the mortgage for your new Maine home will often manage your bridge loan.

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111

HomeLight

NOVEMBER 30, 2023

In real estate, a bridge loan, also known as a swing or bridging loan, is a short-term financing option designed to help homeowners like you. Typically, the lender working with you on your new mortgage in Missouri will also handle your bridge loan. A key factor in this scenario is your debt-to-income ratio (DTI).

Equity 111

Equity Loans Debt-to-income ratio Home sale contingency 111