Housing Wire

FEBRUARY 11, 2022

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Economists had predicted rates would rise as the overall economy stabilized. Other indices put mortgage rates even higher. Randy Howell, president of Mortgage Power Inc.

Industrial 397

Industrial Mortgages Fixed-rate mortgage Loan Officer 397

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Tapping that equity. ” Just a little less vanilla. .”

Mortgages 418

Mortgages Equity Loans Seller concession 418

Housing Wire

AUGUST 29, 2022

After two golden years in the mortgage market during the pandemic period, refis have dried up and the industry has since pivoted toward a purchase market. With Game On, it’s making them (retail loan officers) take an extra look at the broker channel,” Ishbia told analysts in its second-quarter earnings. “We

Loan Officer 435

Loan Officer Loans Equity Mortgages 435

Housing Wire

APRIL 14, 2022

Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

DECEMBER 30, 2022

“What tends to happen is, whenever there’s a lot of recession talk, that’s not when you generally see brands rolling out new products,” Shant Banosian , EVP at Guaranteed Rate and one of Scotsman Guide ‘s top LOs, said. . “I The 30-year fixed rate mortgages are expected to average 6.3% in 2023, peaking to 6.5%

Loans 435

Loans Renovation Construction Mortgages 435

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 105

Equity Marketing Loans Mortgages 105

Realtor.com

APRIL 5, 2021

Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA. However, the rate adjusts after a specified initial period—usually three, five, seven, or 10 years—based on market indexes. How to tell.

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Loans Mortgages Principal Equity 122

Realtor.com

MARCH 12, 2021

First find the difference between your current mortgage rate and the potential savings of a refinance offer. The rate for a refi will vary based on the particular homeowner. Lenders consider credit history, income and home equity when evaluating applications. I have an adjustable-rate mortgage.

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Fixed-rate mortgage Mortgages Closing costs Equity 87

HomeLight

SEPTEMBER 30, 2020

Or what if you’ve paid off a good chunk of your mortgage and you want to take some money out? Keep an eye on interest rates,” says Los Angeles-based loan officer Dan Hunt. When rates drop, it’s always a good idea to look into refinancing. Have the loan underwritten and go through closing again.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Realty Biz

MAY 26, 2022

With ARMs, homebuyers can obtain lower rates for a fixed term of five, seven or 10 years, after which the rate will change depending on market conditions. ARMs are fully underwritten, the same as fixed-rate mortgages, and also require a down payment.

Fixed-rate mortgage 72

Fixed-rate mortgage Mortgages Loan Officer Loans 72

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. Department of Veterans Affairs (VA) loan.

Debt-to-income ratio 98

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

HomeLight

JUNE 22, 2023

She advises that the sooner you contact an agent, the sooner they can recommend a qualified loan officer that can advise you on your financial situations and steps you might take to save a downpayment or fix issues with your credit which could take up to a year and a half to repair.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages FHA loan Loans 98

Realty Biz

SEPTEMBER 30, 2023

Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance. They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

HomeLight

JANUARY 31, 2022

Different banks and lenders have different ways of calculating this, but you can safely calculate your mortgage insurance rate to be somewhere between 0.25% and 1% of your mortgage loan amount annually. It will be split up and included in your monthly mortgage payments. Source: (Brian Jones / Shutterstock).

Loans 98

Loans Mortgages FHA loan Principal 98

Redfin

JUNE 1, 2022

Mortgage rates are central to the economy; they react to and influence inflation rates. Mortgage interest rates are also critical in determining mortgage and housing affordability. Be pre-approved and have all required documentation ready to go.

Mortgages 73

Mortgages Pre-approval Fixed-rate mortgage As-is 73

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. and 1% of your loan amount, annually. Adjustable-rate interest.

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119

Housing Wire

AUGUST 11, 2022

Purchase mortgage rates continue their roller coaster ride – they moved above 5% this week, according to the latest purchase mortgage survey from Freddie Mac. The 30-year fixed-rate mortgage increased this week to average 5.22%, up from last week’s 4.99%. A year ago this time, rates averaged 2.77%.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Loans 397

The Close

DECEMBER 29, 2022

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. Got Clients With Interest Rate Questions? Fixed-rate mortgage.

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

Marco Santarelli

FEBRUARY 22, 2025

Here's What Today's Rates Mean for You Refinancing can be a smart move for homeowners looking to lower their monthly payments, shorten their loan term, or even tap into their home equity. So, what do today's rates mean if you're thinking about refinancing? Plus, you build equity much faster.

Mortgages 85

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