Marco Santarelli

SEPTEMBER 22, 2023

When home prices rise rapidly, it can lead to a number of negative consequences, including: A decline in consumer spending : Homeowners who are seeing the value of their homes increase may be more likely to borrow money against their home equity. Choose a fixed-rate mortgage : A fixed-rate mortgage will protect you from rising interest rates.

Pre-approval 98

Pre-approval Fixed-rate mortgage Lending Equity 98

Lighter Side of Real Estate

OCTOBER 18, 2023

Agents believe so strongly in owning a home because it provides many benefits, such as: Building equity: When you own a home, you are gradually building equity as you pay down your mortgage. Your agent can connect you to lenders who can pre-approve you for a mortgage so you can determine how much you can afford to spend.

Pre-approval 121

Pre-approval Fixed-rate mortgage Equity Agents 121

Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 101

Mortgages Pre-approval Pre-qualification Due diligence 101

Redfin

JULY 16, 2024

Navigating the mortgage loan process can be daunting, but breaking it down into manageable steps can help. This guide will walk you through each phase of the mortgage loan process, from pre-approval to post-closing, with examples to illustrate key points. Compare it with your pre-approval letter for consistency.

Loans 69

Loans Pre-approval Earnest money deposit Mortgages 69

Redfin

DECEMBER 15, 2023

In 2020, interest rates took a sharp dive as the Federal Reserve sought to stave off economic collapse amid the pandemic. The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%.

Fixed-rate mortgage 69

Fixed-rate mortgage Mortgages Title search Equity 69

Toronto Realty Blog

JUNE 20, 2022

He got his ducks in a row early in the year and had a mortgage pre-approval with a 5-year, fixed rate of 2.79%. In the meantime, his mortgage pre-approval expired! With the massive increase in interest rates, he is now looking at a five-year, fixed-rate mortgage of 5.19%.

Principal 122

Principal Fixed-rate mortgage Pre-approval Mortgages 122

Redfin

AUGUST 12, 2024

A lower DTI indicates better financial health and increases your chances of loan approval. Down payment The size of your down payment affects your mortgage terms in several ways. 15-year term : A 15-year mortgage term typically comes with higher monthly payments but significantly lower interest costs over the life of the loan.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

Redfin

APRIL 11, 2025

In the past, many homeowners stayed in their starter homes for around three to seven years building equity. However, its now common to see homeowners stay put longer to avoid rising home prices and potentially higher interest rates. When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord.

Marketing 35

Marketing Land Equity Loans 35

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

Redfin

JULY 11, 2023

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. Once the borrower’s equity reaches 20%, PMI can be canceled.

Pre-approval 59

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

Marco Santarelli

AUGUST 9, 2024

One of the most promising indicators is the rapid decline in mortgage rates. According to Freddie Mac, rates on 30-year fixed-rate mortgages plummeted below 6.5% Interest Rate Fluctuations: While mortgage rates have been trending downwards, it's crucial to remember that they can fluctuate.

Mortgages 52

Mortgages Principal Pre-approval Fixed-rate mortgage 52

Redfin

FEBRUARY 10, 2023

Building equity Home equity is how much of your home that you actually own. For example, if a homeowner has a mortgage balance of $200,000 on a property worth $300,000, their home equity would be $100,000. So, as you pay off your mortgage , you’ll also build equity.

Equity 59

Equity Closing costs Mortgages Pre-approval 59

Redfin

JULY 10, 2023

Buying gives you the opportunity to create equity you can use later, to move up, to make updates, or just to create wealth. Stable monthly payments Buying a home with a fixed-rate mortgage means that your monthly mortgage payments stay the same over the duration of your mortgage.

New Construction 59

New Construction Equity Purchase and sale agreement Closing costs 59

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

Marco Santarelli

JULY 23, 2022

Mortgage approval rates today are lower than they were in the pre-crisis era, which suggests that borrowers are less likely to default on their loans. Reduced mortgage rates and consequently lower house costs can bring properties that were previously out of reach within reach. The shaded areas represent U.S.

Mortgages 52

Mortgages Marketing Lending Equity 52

Toronto Realty Blog

MAY 26, 2022

Now, consider that the overnight lending rate only has a direct impact on the variable rate mortgage, whereas the fixed-rates are affected by the bond market. But an increasing interest-rate environment is going to lead to higher fixed-rate mortgages over time. Sure, in theory.

Fixed-rate mortgage 106

Fixed-rate mortgage Purchase and sale agreement Banks Mortgages 106

Marco Santarelli

AUGUST 16, 2024

Understanding the Current Market: The Federal Reserve has been steadily raising interest rates to combat inflation, which has impacted mortgage rates. A year ago, in August 2023, the average 30-year fixed-rate mortgage was around 7.58%. Strategies to Afford a Home in a High Interest Rate Environment: 1.

Pre-approval 52

Pre-approval Fixed-rate mortgage Finance Loans 52

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. If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Fixed-rate mortgage.

Purchase and sale agreement 98

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

Marco Santarelli

APRIL 3, 2025

With this in mind, lets explore current rates, what they mean for you, and the broader economic context shaping these changes. Today's Mortgage Rates April 3, 2025: Rates Go Down After Tariff News Key Takeaways Current Mortgage Rate: Approximately 6.40% for a 30-year fixed-rate mortgage.

Mortgages 98

Mortgages Fixed-rate mortgage Principal Loans 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

Marco Santarelli

JANUARY 31, 2025

The Numbers Don't Lie, But They Can Be Tricky According to Freddie Mac's most recent Primary Mortgage Market Survey, released on January 30th, 2025, the average rate for a 30-year fixed-rate mortgage is now at 6.95%. Get pre-approved, explore your options, and be flexible on what you're looking for.

Closing 52

Closing Mortgages Fixed-rate mortgage Pre-approval 52