Housing Wire

MARCH 10, 2023

Toohig adds that lenders are telling him that their customers “don’t want to do a new 30-year fixed-rate mortgage at 6.25%, and we’d rather do a smaller-balance HELOC [home equity line of credit] instead to improve their property.” And we have more of an asset-based underwriting not focused on debt-to-income ratios.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

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 119

Mortgages Debt-to-income ratio VA loan FHA loan 119

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

Realty Biz

OCTOBER 21, 2020

Back in January of 2019, Ginnie Mae, which is a government sponsored entity that guarantees loans popular with first-time buyers and lower-income borrowers, reported that 44% of its purchase loans were granted to people with FICO scores of below 700 and a debt-to-income ratio of greater than 40%.

Debt-to-income ratio 105

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 105

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 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

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

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

Realtor.com

FEBRUARY 2, 2022

Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. But if you’re on top of your debt-to-income ratio, you’ll look a lot more financially stable. “To So beware of lenders you find on the internet, who may offer only 1-800 numbers and limited office hours.

Debt-to-income ratio 100

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

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

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

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

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

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

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

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

JANUARY 23, 2025

Bond Yields: Mortgage rates typically follow the trend lines set by U.S. As these fluctuate due to investor sentiment or economic indicators, they directly impact fixed-rate mortgages. Future Trends: Will Rates Continue to Drop? Treasury yields, particularly the 10-year yield.

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

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

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

Redfin

SEPTEMBER 6, 2024

Fixed-rate mortgage vs adjustable-rate mortgage There are two main types of mortgage interest rates: fixed-rate and adjustable-rate. 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

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

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

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

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

Redfin

SEPTEMBER 4, 2024

There are several reasons you might want to do so like to lower your interest rate, change your loan term, your credit’s improved, debt consolidation, converting an ARM to a fixed-rate mortgage, converting an FHA loan to a conventional loan, or freeing up cash via decreasing your home’s equity.

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

Redfin

AUGUST 12, 2024

Higher credit scores typically secure lower interest rates, resulting in lower monthly payments and less paid over the life of the loan. Income stability : Lenders prefer borrowers with a stable income and employment history. Documenting at least two years of consistent income can be crucial.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

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 borrowers often carry large student debts, which skew their debt-to-income ratio. Your loan type can also affect PMI requirements.

Debt-to-income ratio 66

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

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

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

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

The big benefit of going with a conventional mortgage is that it's often going to allow you to get the lowest interest rates possible. You will, however, be able to choose between either a fixed-rate or an adjustable-rate mortgage, and it's going to impact the interest rate on your home loan.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69