Redfin

AUGUST 12, 2024

These loans have more relaxed credit score requirements and lower down payment options, with down payments as low as 3.5% However, FHA loans require both an upfront mortgage insurance premium (MIP) and monthly MIP payments, which can increase the overall cost of the loan.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

Redfin

JULY 31, 2024

Understand loan options: Learn about different mortgages like conventional, jumbo, and government-backed loans (FHA, VA, USDA). Compare terms and interest rates to find the best fit for you. Choosing the right mortgage lender is a vital step in the home-buying process. Did you know?

Pre-approval 71

Pre-approval Pre-qualification Mortgages Loans 71

Marco Santarelli

APRIL 24, 2024

In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers. The Refinance Rescue: Potential Savings Down the Line Here's a silver lining: even if you buy a home now with a higher interest rate, you're not locked into that rate forever.

Pre-approval 52

Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Answer: What you can afford depends on your income, credit rating, current monthly expenses, down payment, and interest rate. What Is a Mortgage Pre-Approval? What Can I Afford?

Pre-qualification 56

Pre-qualification Pre-approval Closing costs Inspection 56

Marco Santarelli

APRIL 24, 2025

Choosing the right type of mortgage is just as important as getting a good rate. Here's a quick overview of some common options: 30-Year Fixed-Rate Mortgage: This is the most popular option. It offers a stable interest rate and predictable monthly payments over the life of the loan.

Mortgages 52

Mortgages Fixed-rate mortgage Pre-approval Loans 52

Redfin

APRIL 11, 2025

When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Owning a home can also bring more financial stability , especially with a fixed-rate mortgage, as it offers predictable monthly payments, compared to rent, which can rise.

Marketing 35

Marketing Land Equity Loans 35

Marco Santarelli

AUGUST 3, 2024

Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment. However, remember that a larger down payment often means lower interest rates and monthly payments.

Closing costs 52

Closing costs Inspection Pre-approval FHA loan 52

Marco Santarelli

FEBRUARY 24, 2025

As someone who has helped many people buy homes, I always advise them to get pre-approved for a mortgage. Fixed vs. Adjustable: Choosing the Right Mortgage You've probably heard about fixed-rate and adjustable-rate mortgages (ARMs), but what's the real difference?

Mortgages 52

Mortgages VA loan Fixed-rate mortgage Principal 52

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

Marco Santarelli

FEBRUARY 22, 2025

If you're looking for something shorter, a 15-year fixed is significantly lower at 5.83%. For our veterans, VA loans are looking particularly attractive with rates under 6%. And FHA loans, often popular with first-time buyers, are also offering competitive rates. Refinancing? Dont delay in taking action!

Mortgages 85

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