Marco Santarelli

MARCH 22, 2025

Freddie Mac , who keeps a close eye on these things, tells us that as of March 20, 2025, the average rate for a 30-year fixed-rate mortgage is 6.67%. For those looking at a 15-year fixed-rate mortgage , the average is 5.83% , again with a small bump up from the previous week (0.03%).

Mortgages 98

Mortgages Fixed-rate mortgage Equity Investor 98

Marco Santarelli

DECEMBER 29, 2024

Many homeowners opt to stay, creating a situation often referred to as the “lock-in effect,” where established homeowners hesitate to sell their properties because theyre unwilling to give up favorable mortgage rates. Lower rates can spur renovations and upgrades, fostering a more robust housing dynamic.

Mortgages 111

Mortgages Lending Fixed-rate mortgage Loans 111

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance 96

Finance FHA loan Investor Loans 96

Marco Santarelli

AUGUST 3, 2024

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

Fixed-rate mortgage 52

Fixed-rate mortgage Mortgages Equity Renovation 52

The Close

DECEMBER 5, 2024

The average cost of flipping a house varies depending on the property location, type, and degree of the required renovations. To answer how much does it cost to flip a house, you’ll need to add four main costs: acquisition, renovation, carrying, and selling. In addition, remember to apply the 70% rule.

House Flipping 98

House Flipping Renovation Closing costs Hard money loan 98

Realtor.com

AUGUST 28, 2020

A strong housing market can be a positive sign for the economy, as home purchases can lead to increased spending on furniture, appliances and renovations. For those who remain employed, ultralow interest rates offer an additional incentive to buy, as they can reduce monthly payments and make homeownership more affordable.

Marketing 138

Marketing Fixed-rate mortgage Loans Renovation 138

Realty Biz

MARCH 5, 2021

While FHA Section 203(k) loans have a number of requirements and guidelines , they allow homebuyers to combine the initial purchase of the home and the necessary renovations into a single long-term loan, which can either be at a fixed or adjustable interest rate. DOE Weatherization Assistance Program.

Closing costs 124

Closing costs Loans Renovation Fixed-rate mortgage 124

HomeLight

MARCH 11, 2022

MassHousing Mortgage. MassHousing offers a fixed-rate mortgage for first-time homebuyers. This program includes MI Plus, which may cover the mortgage payment in the event of a job loss. MassHousing’s Operation Welcome Home program offers a fixed-rate mortgage to military members and veterans.

Closing costs 111

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

Realty Biz

OCTOBER 10, 2022

You’ll need to make sure you can afford not just the mortgage payments and landlord insurance, but also repairs and maintenance, potential periods of vacancy, tenant screening, and other aspects of property management. Here’s what you need to know to get a mortgage to buy a rental property. Your Finances Need to Be Sparkling.

Mortgages 84

Mortgages Fixed-rate mortgage Lending Loans 84

Marco Santarelli

JUNE 27, 2024

For aspiring homeowners, the question of mortgage rates looms large. In June, Freddie Mac reported a welcome dip in the average 30-year fixed rate mortgage (FRM) to 6.86%, the lowest level in nearly three months. Here, we delve into the predictions of experts and unpack the factors influencing these rates.

Mortgages 97

Mortgages Fixed-rate mortgage Equity Banks 97

HomeLight

JULY 29, 2022

Whether it’s a vacation home or your forever home, buying a property at a lower price than what you can later sell it for, either with natural market appreciation or through renovations that increase your home’s value , clears you of any remaining owed balance and leaves you turning a profit. Customization/renovation to meet needs later on.

Purchase and sale agreement 104

Purchase and sale agreement Renovation Equity Mortgages 104

HomeLight

JUNE 21, 2023

There’s also the benefit of knowing exactly how much your house payment will be every month with no threat of it increasing over time if you got a fixed-rate mortgage. It varies state by state, but the national average of property tax rates on a home value of $250,000 is 1.08%, or $2,700 a year, as of February 2020.

Equity 98

Equity Fixed-rate mortgage Loans Mortgages 98

Redfin

APRIL 11, 2025

But with renovation costs on the rise, demand for move-in-ready homes is starting to outpace that of fixer-uppers. When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Whats considered entry-level homeownership can vary widely by region. How much does a starter home cost?

Marketing 35

Marketing Land Equity Loans 35

Realty Biz

NOVEMBER 18, 2022

At the same time, the cost of ownership doesn’t change at all, under the condition you are subject to a fixed-rate mortgage or have the property completely paid off. It’s a resource-intensive opportunity, and you definitely need more than bare finance to succeed with it.

Fixed-rate mortgage 83

Fixed-rate mortgage Renovation Construction As-is 83

Marco Santarelli

OCTOBER 17, 2024

For homeowners considering refinancing, it's essential to understand what these rates mean for your personal finances and the broader housing market. Mortgage Refinance Rates Rise to 6.30% on October 17, 2024 Key Takeaways Current Refinance Rate : 6.30% for 30-year fixed mortgages.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Closing costs 52

Marco Santarelli

AUGUST 8, 2024

Here are some scenarios where refinancing could be beneficial: Homeowners with Existing Mortgages Above 6% : If you currently have a 30-year fixed rate mortgage at 7.5% , refinancing to a 30-year fixed rate at 6.56% can result in substantial monthly savings. Conclusion: The Right Move?

Mortgages 52

Mortgages Fixed-rate mortgage VA loan FHA loan 52

Windemere Selling

JUNE 13, 2022

Refinancing Your Home There are a few reasons why homeowners will typically refinance their mortgage, the most common of which being falling interest rates. Lower interest rates, after a reassessment of your mortgage, equate to lower monthly mortgage payments and significant savings over the life of the loan.

Debt-to-income ratio 52

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

Marco Santarelli

JANUARY 15, 2025

Adjustable-Rate Mortgages (ARMs) Pros: Typically feature lower initial interest rates than fixed-rate mortgages. Cons: After a fixed introductory period, rates may adjust based on market conditions, leading to uncertainty.

VA loan 52

VA loan Mortgages FHA loan Loans 52

Rent, Buy & Sell

JANUARY 20, 2023

Shop around for the best mortgage rates. Before You Buy: Be Honest About Your Finances The question isn’t really how low can prices go during a recession. Paying your mortgage and riding out the downturn is just as important as finding a low-priced home. They might owe others considerable money as well.

Title search 59

Title search Short sale Title Fixed-rate mortgage 59

Marco Santarelli

SEPTEMBER 18, 2024

The Fed's interest rate cut will change mortgages, car loans, and other forms of financing, making it crucial for borrowers and potential buyers to understand its implications. Impact on Car Loans The auto industry also responds strongly to rate cuts. How will the Fed's rate cut affect my current mortgage?

Loans 52

Loans Mortgages Banks Fixed-rate mortgage 52

Redfin

SEPTEMBER 27, 2021

Keep in mind that you’ll need to account for taxes, insurance, repairs and renovations, along with increased utility expenses. Some lenders may approve you for a mortgage if your finances fall outside this ratio, but they will likely charge extra fees and a higher interest rate to cover the increased risk, making your mortgage more costly. .

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

Marco Santarelli

DECEMBER 14, 2024

Low mortgage rates have historically made home ownership more accessible, and with the current rates hovering around 7%, the anticipated decrease could open doors for many would-be homeowners who have been sitting on the sidelines. This, in turn, encourages investment in housing as buyers feel more secure in financing options.

Mortgages 52

Mortgages Marketing Construction Fixed-rate mortgage 52

Marco Santarelli

FEBRUARY 26, 2025

Here's What You Need to Know Understanding HELOC Rates and the Fed's Playbook First off, if you're new to the world of HELOCs, think of them like a credit card, but using your home equity as collateral. It's a flexible way to borrow money for things like home renovations, consolidating debt, or even unexpected expenses.

Debt-to-income ratio 52

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

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% in a recent week, marking the lowest point since May 2023.

Mortgages 52

Mortgages Principal Pre-approval Fixed-rate mortgage 52

Toronto Realty Blog

SEPTEMBER 7, 2023

Even if mortgage delinquencies doubled , we’d still only be back to 2019 levels. One of my investors was on a fixed-rate mortgage and his mortgage rate is going to skyrocket as of October 1st, so he sold the unit in the summer to avoid being significantly cash flow negative on the property.

Marketing 105

Marketing Land Development Banks 105

Realtor.com

JANUARY 19, 2022

It took us nine months of scouring the market in three states, touring dozens of homes, losing multiple bidding wars, and rescinding another offer on a fixer-upper that would need more work than we could afford to put in, before my partner and I finally closed on our home late last year—a cute, renovated Cape Cod outside of New York City.

Pre-approval 110

Pre-approval Banks Closing Mortgages 110

Marco Santarelli

JANUARY 10, 2025

This can be a great option for those needing funds for renovations or debt consolidation. Adjustable Rate Mortgages : Homeowners with adjustable-rate mortgages (ARMs) might consider refinancing into a fixed-rate mortgage to avoid the uncertainty of future rate hikes.

Mortgages 52

Mortgages Loans VA loan FHA loan 52