Realty Biz

OCTOBER 21, 2020

Mortgage rates are at an all-time low, but that’s just too bad for the thousands of potential home buyers who’re missing out on the action due to tighter lending standards. Last week, Freddie Mac reported that the 30-year fixed rate mortgage now averages just 2.81%, a new all time low for mortgage rates in the U.S.

Debt-to-income ratio 105

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

Realtor.com

FEBRUARY 2, 2022

But our mortgage and lending system can be especially challenging for retirees to navigate, simply because lenders prioritize income. Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. Get creative with your mortgage. Reconsider risk calculations.

Debt-to-income ratio 100

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

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

Marco Santarelli

SEPTEMBER 30, 2023

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. FHA mortgage rates don't use risk-based pricing models, so there are no added fees or premiums for lower credit scores.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

Debt-to-income ratio 88

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

Marco Santarelli

OCTOBER 6, 2024

Mortgage rates predictions for the next three months are shaping up to be quite optimistic, with many experts forecasting a potential decline to around or under 6% by the end of October 2024. Future Expectations : LendingTree predicts rates could fall to 6% or lower by October, making it an ideal time for buyers.

Mortgages 97

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

HomeLight

OCTOBER 15, 2020

You’ve worked hard to improve your credit score , pay down your debts, and save up for a healthy down payment. Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. Fannie and Freddie are government-sponsored entities (GSE) that back most of the mortgages in the U.S.

Loans 98

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

Redfin

JULY 11, 2024

In this Redfin article, we’ll delve into the intricacies of mortgage interest, helping you understand how it works, what factors influence it, and how different types of mortgages can affect your payments. What is mortgage interest and how does it work? What is mortgage interest and how does it work?

Mortgages 71

Mortgages Fixed-rate mortgage Debt-to-income ratio Principal 71

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

Point2Homes

NOVEMBER 8, 2020

Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage?

Debt-to-income ratio 75

Debt-to-income ratio Mortgages Fixed-rate mortgage Closing costs 75

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. Are You Financially Ready to Buy a Home?

Debt-to-income ratio 111

Debt-to-income ratio Fixed-rate mortgage Mortgages Loans 111

HomeLight

AUGUST 28, 2020

If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? How is your rate determined? And how do you get a low rate?

Mortgages 104

Mortgages Loans Fixed-rate mortgage Principal 104

Marco Santarelli

DECEMBER 14, 2024

Navigating the current housing market requires an understanding of today's mortgage rates , which are pivotal for anyone looking to buy a home or refinance. On December 14, 2024, mortgage rates have increased slightly, highlighting the influence of economic fluctuations and upcoming Federal Reserve decisions.

Mortgages 52

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

Redfin

SEPTEMBER 4, 2024

Refinancing your mortgage can be a strategic move to either lower your monthly payments, shorten your loan term, or tap into your home’s equity. However, did you know refinancing a mortgage can cost you? Now that you’re wondering, “How much does it cost to refinance a mortgage?” What does it mean to refinance a mortgage?

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

Redfin

AUGUST 12, 2024

With various mortgage types available, navigating the options can be overwhelming. Whether you’re looking to buy your first home in Austin or refinance your house in Miami , understanding the different mortgage types and key factors is essential. What is a mortgage? Here’s an overview of the main mortgage types: 1.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

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. You Need a 20% Down Payment to Get a Mortgage.

Debt-to-income ratio 98

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 98

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

HomeLight

MARCH 11, 2022

Understandably, many buyers worry they can’t afford a mortgage in this highly desirable state. As Michael Stegman of Duke University, observes, “ Saving for a down payment remains one of the biggest barriers to obtaining a home mortgage ,” and in many cases, down payment assistance has become “the first rung on the homeownership ladder.”.

Closing costs 111

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

Redfin

SEPTEMBER 6, 2024

For those looking to move from an apartment in Glendale, California to a home in Sherman Oaks or outside the state, mortgage interest rates are a crucial factor to consider. These rates directly impact the monthly payments you’ll make on your loan. How much does interest rate affect monthly payment?

Debt-to-income ratio 69

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

Realty Biz

DECEMBER 30, 2022

If you fall into this category, you'll need to learn how mortgages work. More specifically, you'll need to spend some time educating yourself on the different types of mortgage loans. It'll also help you get access to the best mortgage rates around. Conventional Mortgage. Government-Backed Mortgage.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

Marco Santarelli

JUNE 25, 2024

Finding the right mortgage can feel like deciphering a complex code. 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 30-year fixed-rate offers several advantages. The trade-off?

Mortgages 52

Mortgages Debt-to-income ratio Fixed-rate mortgage Equity 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. Each option has its merits.

Mortgages 52

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

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

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

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? at the end of 2021.

Mortgages 52

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

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

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. Take a good look at your monthly income and expenses. Student loans.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

Marco Santarelli

AUGUST 8, 2024

Imagine this: you snagged a great interest rate on your mortgage a few years back, but now rates have dipped even lower. You're tempted by the idea of refinancing to save money, but a nagging question holds you back: when you refinance a mortgage, does the 30 years start over? The short answer is both yes and no.

Mortgages 52

Mortgages Debt-to-income ratio Equity Loans 52

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. So, how do you decide between the two?

Debt-to-income ratio 52

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

HomeLight

NOVEMBER 29, 2021

Some mortgage programs require no down payment but can have strict eligibility requirements. First-time homebuyers may need a 20% down payment to avoid mortgage insurance (MI), which can sometimes be a difficult hurdle to clear. of the total mortgage toward their down payment. American Dream Down Payment Assistance Act.

Land 110

Land Closing costs Purchase and sale agreement Loans 110

Marco Santarelli

APRIL 26, 2023

One of the most significant factors impacting the housing market is interest rates. Housing market interest rates (or mortgage rates) play a crucial role in the decision-making process for both homebuyers and sellers. The rising interest rates doubled mortgage interest rates in 2022, peaking at 7% in November.

Marketing 52

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

Real Estate Finance HQ

AUGUST 25, 2017

Instead, the agency guarantees repayment to lenders if a borrower defaults, so that the lenders know they won’t lose money on the deal, thus allowing them to offer competitive mortgage rates on loans that are easier to qualify for than conventional home loans. Housing Ratio. Debt to Income Ratio.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

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. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! Paying mortgage insurance isn’t that big a deal. Don’t let it!

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. 4 Key Interest Rate Questions That Could Save Your Clients Money. Amortization.

Purchase and sale agreement 98

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