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 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

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. Debt-to-Income Ratio (DTI): Lenders assess your DTI to determine your ability to manage your debt obligations.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

Marco Santarelli

MARCH 25, 2025

According to the latest data, the average 30-year fixed mortgage rate stands at 6.58%, while the 15-year fixed mortgage rate is currently at 5.97%. It's crucial to understand the factors driving these shifts and what they mean for prospective homeowners and those considering refinancing.

Mortgages 52

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

Marco Santarelli

DECEMBER 11, 2024

This dynamic complicates the decision-making for current homeowners contemplating their refinancing possibilities. Today's CPI report holds significant importance for potential homebuyers and current homeowners alike. What to Expect from the CPI Report?

Mortgages 52

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

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

JANUARY 6, 2025

The current average for a 30-year fixed mortgage stands at 6.67%. Understanding these shifts in mortgage rates can impact budgets and long-term financial commitments, making it crucial for potential home buyers and homeowners looking to refinance to stay informed. 20-year fixed 6.62 15-year fixed 5.89

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

Marco Santarelli

JANUARY 23, 2025

Mortgage rates on January 23, 2025, have seen a decline across various loan types, continuing a downward trend that has impacted borrowers positively. The current average rate for a 30-year fixed mortgage is 7.05% , down from 7.13% last week. Bond Yields: Mortgage rates typically follow the trend lines set by U.S.

Mortgages 52

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

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. Your monthly mortgage payment often includes an escrow payment.

Mortgages 64

Mortgages Debt-to-income ratio Loans Principal 64

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

HomeLight

JUNE 16, 2023

The average American household credit card debt is $5,315 , the average student loan debt is almost $39,000 , and the average car loan for a new vehicle is around $44,140. 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.

Fixed-rate mortgage 88

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

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

If you’re a first-time homebuyer you’ve surely been putting pencil to paper to estimate what your future mortgage payment, taxes, insurance, and maintenance will be on a new home. However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI).

Debt-to-income ratio 66

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

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

Windemere Selling

JUNE 13, 2022

Homeowners can often reach a financial fork in the road when they must decide to either refinance their existing mortgage or sell their home. Each route has its respective advantages depending on your financial health, the mortgage rate market , and the future needs of your household.

Debt-to-income ratio 52

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

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

As of today, August 18, 2024, mortgage rates are creating waves in the real estate market, sparking interest among homebuyers and homeowners considering refinancing. With experts predicting further drops in mortgage rates, understanding the landscape is more critical than ever. When Will Mortgage Rates Drop?

Mortgages 52

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

Marco Santarelli

JUNE 25, 2024

This week, we'll break down the current mortgage rate landscape (as of June 25th, 2024) and explore predictions for the upcoming week to help you make informed decisions. 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

AUGUST 28, 2020

The rate you’re offered by a lender involves a lot of interconnected factors; some are within your control, and some are well outside your control. Millions of buyers are left in the dark when it comes to their rates. homeowners don’t even know what their mortgage rate is , much less how it’s factored.

Mortgages 104

Mortgages Loans Fixed-rate mortgage Principal 104

Redfin

JULY 11, 2023

Essentially, a mortgage enables individuals to become homeowners by providing the necessary funds upfront, with the property serving as security for the loan. How does a mortgage work? When you take out a mortgage, the lender provides you with a specific amount of money to buy a home.

Pre-approval 59

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

Marco Santarelli

OCTOBER 15, 2023

If you are thinking of buying a home or refinancing your existing mortgage, you might be wondering why mortgage rates are so high in 2023. Mortgage rates have been climbing steadily since December 2021, when they hit a record low of 2.97%. Why are Mortgage Rates Going Up in 2023?

Mortgages 52

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

Marco Santarelli

MARCH 24, 2025

Monthly Payment on a $500,000 Mortgage Finally, a $500,000 mortgage at 6.51% would mean a monthly payment of around $3,164. Remember, these figures don't include property taxes, homeowner's insurance, or potentially Private Mortgage Insurance (PMI) if you put down less than 20%. What's Driving These Mortgage Rates?

Mortgages 52

Mortgages Pre-approval Debt-to-income ratio Principal 52

HomeLight

NOVEMBER 29, 2021

Homeowners taxes. Many of the following programs are only available to potential homeowners who earn less than, or at least not appreciably more than, the median income level in their area, which varies from county to county. Any low- to moderate-income households can apply to this program. Here’s what you need to know.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Marco Santarelli

FEBRUARY 20, 2025

Understanding how mortgage rates function is crucial for any prospective homebuyer or homeowner considering a refinance. A mortgage interest rate is essentially a fee for borrowing money from a lender. Conversely, strong economic performance may lead to higher rates.

Mortgages 52

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

Marco Santarelli

APRIL 26, 2023

Although the banking crisis has complicated the outlook, many analysts still believe fixed mortgage rates might dip back into the 5% range in 2023. Bankrate's forecast predicts 30-year mortgage rates to drop to 5.25% by the end of 2023, which is good news for homeowners but not for buyers.

Marketing 52

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

Marco Santarelli

AUGUST 8, 2024

Switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage: This provides interest rate stability and predictable payments. Tapping into home equity: Cash-out refinancing allows homeowners to access their home equity for various purposes, like debt consolidation or home improvements.

Mortgages 52

Mortgages Debt-to-income ratio Equity Loans 52

Real Estate Finance HQ

AUGUST 25, 2017

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. Debt-to-income ratio. The FHA allows a debt-to-income (DTI) ratio of 41% on their mortgages (most conventional loans allow only 36%). Fixed Rate Mortgages.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

Marco Santarelli

FEBRUARY 27, 2025

How Do Mortgage Rates Work? 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

FEBRUARY 26, 2025

Let's dive into the details and see what the experts are saying, what's driving these predictions, and what it all means for you as a homeowner. Will HELOC Rates Go Down in 2025? It's a flexible way to borrow money for things like home renovations, consolidating debt, or even unexpected expenses. And the prime rate?

Debt-to-income ratio 52

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

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. For the majority of homeowners, this amounts to no more than a couple hundred dollars a month.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

The Close

DECEMBER 29, 2022

A homeowner can refinance their property for more than its value and take the added amount as cash. It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby.

Purchase and sale agreement 98

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

Marco Santarelli

APRIL 6, 2025

These adjustments in rates indicate a response to economic pressures, including recently imposed tariffs that have raised concerns about inflation and economic growth. With lower rates available, its an essential time for buyers and current homeowners looking to refinance to understand these changes.

Debt-to-income ratio 59

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

Marco Santarelli

FEBRUARY 22, 2025

Or maybe you're already a homeowner wondering if you should refinance? Well, pay attention because today's mortgage rates, specifically for February 22, 2025, have just gotten a little bit better! We're seeing a slight but significant dip, with the average 30-year fixed mortgage rate now sitting at 6.50%.

Mortgages 85

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

Marco Santarelli

MARCH 10, 2025

Today,March 10, 2025, mortgage rates have experienced a slight decrease, providing new opportunities for homebuyers and homeowners looking to refinance. The average rate for a 30-year fixed mortgage currently stands at 6.31% , while the 15-year fixed rate has dipped to 5.63%. 5/1 ARM 6.12

Debt-to-income ratio 59

Debt-to-income ratio Mortgages FHA loan Fixed-rate mortgage 59

Marco Santarelli

JANUARY 26, 2025

Fixed-Rate vs. Adjustable-Rate Mortgages Understanding the differences between fixed-rate and adjustable-rate mortgages (ARMs) can further influence your decision. In contrast, an adjustable-rate mortgage features a lower initial rate that adjusts after a predetermined period (e.g.,

Mortgages 52

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