Marco Santarelli

MARCH 30, 2025

Long-Term Goals Matter: When choosing between a 15-year and 30-year mortgage , consider your short-term cash flow needs versus long-term interest savings. Focus on Financial Health: Improving your credit score and lowering your debt-to-income ratio are key factors in securing a lower mortgage rate.

Mortgages 64

Mortgages Principal Fixed-rate mortgage Debt-to-income ratio 64

Marco Santarelli

FEBRUARY 26, 2025

Are you glued to your screen, constantly refreshing to find out today's mortgage rates ? As of February 26, 2025, we've seen a welcome dip in mortgage rates. The average 30-year fixed-rate mortgage is currently sitting at 6.35%. Whats the best way to get a really good rate? A: Great question!

Mortgages 93

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

Marco Santarelli

MARCH 17, 2025

The rate you personally qualify for can vary based on factors like your credit score, down payment amount, the type of property you're buying, and even where you live. The Popular 30-Year Fixed-Rate Mortgage The 30-year fixed-rate mortgage is still the most common choice for homebuyers, and for good reason.

Mortgages 72

Mortgages Fixed-rate mortgage Principal Loans 72

Marco Santarelli

MARCH 13, 2025

Types of Mortgage Rates There are two main types of mortgage rates: Fixed-Rate Mortgages : These lock in your interest rate for the entirety of your loan period, making your monthly payments predictable and consistent.

Mortgages 52

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

Marco Santarelli

APRIL 9, 2025

Mortgage Rates Drop: Demand Surges 20% Amid Tariff-Driven Turmoil A Perfect Storm: Tariffs, Rates, and Refinancing It all started with shifts in the tariff situation, which caused ripples in the financial markets. These ripples translated into a decrease in mortgage interest rates.

Mortgages 52

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

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Reduce your existing debt.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

HomeLight

JUNE 22, 2023

Everyone’s finances and circumstances are different. Monthly income The very first thing you need to consider is your income. Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. X 100 = 36% Your debt-to-income ratio is 36%.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Marco Santarelli

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. The Purchase Rate vs. Refinance Rate Dynamic: It's not uncommon for refinance rates to be slightly higher than purchase rates.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

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

DECEMBER 11, 2024

Below, we explore two of the most common mortgage types: 30-year fixed mortgages and 15-year fixed mortgages , along with adjustable-rate mortgages (ARMs). Factors such as credit scores, debt-to-income ratios, and market trends will significantly impact individual mortgage experiences.

Mortgages 52

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

HomeLight

OCTOBER 15, 2020

Conforming loans are mortgages that conform to financing standards set by the federal government, and can therefore be purchased by Fannie Mae and Freddie Mac. 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).

Loans 98

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

Marco Santarelli

APRIL 23, 2025

National Mortgage Rate Trends Let's take a step back and look at the bigger picture of mortgage rates across the country: Current National Average (30-year fixed): As of April 23, 2025, the national average for a 30-year fixed-rate mortgage is around 7.07%. A lower DTI is generally better.

Mortgages 52

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

Marco Santarelli

MARCH 25, 2025

Here is a breakdown of current rates based on the latest information from Zillow: Loan Type Rate 30-Year Fixed 6.58% 20-Year Fixed 6.36% 15-Year Fixed 5.97% 5/1 ARM 6.72% 7/1 ARM 6.76% 30-Year VA 6.10% 15-Year VA 5.63% 5/1 VA 5.13% It's essential to recognize that these figures represent national averages.

Mortgages 52

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

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

Marco Santarelli

JANUARY 23, 2025

30-Year Fixed Mortgage Rates The 30-year fixed mortgage remains the most popular choice for home financing due to its stability. Current Rate: 7.05% Historical Context: This rate signals a decrease from previous months, where rates peaked around 7.19% in mid-January.

Mortgages 52

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

Marco Santarelli

SEPTEMBER 30, 2023

According to Bankrate, the average FHA loan rate for credit scores of 680-699 is 5.531% as of September 30, 2023. However, it is important to note that interest rates can vary depending on a number of factors, including the loan amount, loan term, and the borrower's debt-to-income ratio.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

Marco Santarelli

OCTOBER 14, 2023

According to Freddie Mac's Primary Mortgage Market Survey (PMMS) , which tracks the average rates for 30-year fixed-rate mortgages since 1971 , mortgage rates have ranged from a record low of 2.65% in January 2021 to a record high of 18.63% in October 1981.

Debt-to-income ratio 88

Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

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. Predictability is the name of the game here! A lower DTI is better.

Mortgages 64

Mortgages Debt-to-income ratio Loans Principal 64

Redfin

SEPTEMBER 6, 2024

You might be asking, especially now that interest rates have finally decreased. Understanding how interest rates work and how they can affect your finances is essential for making informed decisions about homeownership. A fixed-rate mortgage has an interest rate that remains the same throughout the life of the loan.

Debt-to-income ratio 69

Debt-to-income ratio Fixed-rate mortgage Principal Loans 69

HomeLight

MARCH 11, 2022

Maximum 38% debt-to-income ratio for most buyers. MassHousing Mortgage. MassHousing offers a fixed-rate mortgage for first-time homebuyers. If you want to buy in Boston or designated ‘Gateway City,’ then you can have a higher income and still receive assistance.

Closing costs 111

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

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

Redfin

SEPTEMBER 4, 2024

Essentially, “ refinancing ,” means to finance once again or renegotiate the terms of one loan in lieu of another with better terms. The decision whether or not to refinance depends on several factors, but what do mortgage rates themselves depend on? Learn more about today’s mortgage rates.

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

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

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. On the flip side, when the Fed lowers rates, it generally makes home loans more affordable.

Mortgages 97

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

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. . Qualified veterans can finance 100% of their home purchase with no PMI requirement. These borrowers often carry large student debts, which skew their debt-to-income ratio.

Debt-to-income ratio 66

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

Redfin

AUGUST 12, 2024

When comparing mortgage loans , focus on the annual percentage rate (APR), which represents the total cost of a loan, including both the interest rate and other loan fees. Understanding these components can help you make informed decisions about your mortgage options and manage your finances effectively.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

Windemere Selling

JUNE 13, 2022

Lower interest rates, after a reassessment of your mortgage, equate to lower monthly mortgage payments and significant savings over the life of the loan. Refinancing your home could also put cash in your pocket. Typically, homeowners will use such funds for large expenses, such as a major renovation or home improvement project.

Debt-to-income ratio 52

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

Realty Biz

DECEMBER 30, 2022

It'll also help you get access to the best mortgage rates around. If you're trying to figure out how to finance your home at the moment, we're going to break down some of the most common types of mortgage loans for you. You will stick with this rate as you spend the next 15 or 30 years paying down your mortgage loan.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

Marco Santarelli

MARCH 27, 2025

Your Debt-to-Income Ratio (DTI): How much of your income goes to debt payments? Right now, in March 2025, the average 30-year fixed mortgage rate is around 6.65% according to Freddie Mac. However, after a set period (usually 5, 7, or 10 years), the rate adjusts based on market conditions.

Debt-to-income ratio 52

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

HomeLight

AUGUST 28, 2020

If you have a lower credit score, you’ll likely pay a higher rate to make up for any additional perceived risk your lender takes on by giving you a mortgage. Your debt-to-income ratio. Your lender will also need to determine how much of your income you can safely put toward a mortgage payment each month.

Mortgages 104

Mortgages Loans Fixed-rate mortgage Principal 104

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

Marco Santarelli

JUNE 25, 2024

Today's Mortgage Rates & Predictions for Next Week Good News for Long-Term Homeowners: 30-Year Rates Drop There's a ray of hope for those seeking stability and predictability. The average 30-year fixed-rate mortgage, the most popular option, has dipped to 7.00%, a welcome decrease of 2 basis points from last week.

Mortgages 52

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

HomeLight

NOVEMBER 29, 2021

To find down payment assistance programs in New Jersey, you can check out HUD’s New Jersey program finder , or take a look at the New Jersey Housing and Mortgage Finance Agency webpage. Many VA loans offer a 30-year fixed-rate mortgage loan, competitive interest rates, and generally require no down payment.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Marco Santarelli

APRIL 24, 2025

Different lenders have different rates and fees. Improve Your Credit Score: A higher credit score demonstrates lower risk to lenders and can result in a lower interest rate. Lower Your Debt-to-Income Ratio (DTI): Lenders want to see that you have a manageable debt load.

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Marco Santarelli

DECEMBER 14, 2024

On December 14, 2024, mortgage rates have increased slightly, highlighting the influence of economic fluctuations and upcoming Federal Reserve decisions. The 30-year fixed-rate mortgage has climbed to 6.42% , while the 15-year fixed rate is at 5.79%. How to secure the lowest refinance rate?

Mortgages 52

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

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