Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. HELOCs offer flexibility.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. HELOCs offer flexibility.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

APRIL 8, 2021

By contrast, if you purchase a home through a fixed-rate mortgage, the amount of your monthly loan payment won’t increase over the term of the loan – which may provide a greater sense of financial stability and control. We all crave a space to call our own, along with the autonomy to choose how to make it our own.

Fixed-rate mortgage 435

Fixed-rate mortgage Equity Principal Mortgages 435

Housing Wire

MARCH 10, 2023

Among the nonbanks that either have or plan to introduce HELOC loan products are United Wholesale Mortgage , Rocket Mortgage , Guaranteed Rate , loanDepot and New Residential Investment Corp. The Fed report is a measure of loan balances, not originations.) “The rebranded as Rithm Capital ).

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

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

Lender Competition: A competitive lending environment can lead to better rates for consumers. Understanding these variables is vital for borrowers, as it helps them anticipate potential mortgage costs and make informed decisions regarding their loans.

Mortgages 111

Mortgages Lending Fixed-rate mortgage Loans 111

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.

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Fixed-rate mortgage Mortgages Equity Renovation 52

Realty Biz

JULY 19, 2021

If you refinance your mortgage, you can reduce your monthly outgoings, change the loan terms, or use the equity you have to provide money when you need it. Everyone has different reasons for wanting to refinance a mortgage. Changing the Loan Term. Moving From an Adjustable-Rate to a Fixed-Rate Mortgage.

Mortgages 145

Mortgages Fixed-rate mortgage Equity Loans 145

Realty Biz

MARCH 5, 2021

The Rehab Mortgage Insurance program helps protect buyers from relying on improvement loans with high-interest rates and short repayment times. Part of the loan goes toward paying the seller, while the rest is placed into an escrow account and released to the buyer as renovations are completed.

Closing costs 124

Closing costs Loans Renovation Fixed-rate mortgage 124

HomeLight

MARCH 11, 2022

The minimum down payment for a conventional loan is 3%, but Massachusetts buyers typically offer more than that. As throughout the country, a 20% down payment will help you avoid mortgage insurance on your loan, and the more you can pay upfront, the more likely you are to get the home you want. and 4% of your total loan amount.

Closing costs 111

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

Point2Homes

AUGUST 28, 2020

Last year, millennials accounted for more than half of all new home loans. After the 2007-09 recession, there was plenty of speculation that millennials would likely be stuck renting for the majority of their lives, as they dealt with the aftermath of the foreclosure crisis and their student loan debt. Effect on Economy Overall.

Fixed-rate mortgage 111

Fixed-rate mortgage Loans Renovation Equity 111

Realtor.com

AUGUST 28, 2020

Millennials reached a housing milestone early last year when the group first accounted for more than half of all new home loans, and they consistently held above that level in the first months of this year, the most recent period for which data are available, according to Realtor.com.

Marketing 138

Marketing Fixed-rate mortgage Loans Renovation 138

Marco Santarelli

JULY 5, 2024

Mortgage Market Trends Another significant factor affecting the housing market is the mortgage industry. Here’s an overview of recent trends: Fixed-Rate Mortgages : These remain the most popular option, especially in high-rate environments, as they offer predictability in monthly payments.

Marketing 131

Marketing Lending Fixed-rate mortgage Investor 131

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.

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House Flipping Renovation Closing costs Hard money loan 98

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

Realty Biz

OCTOBER 10, 2022

You’ll need to show that you can afford to make the mortgage payments each month, although lenders will often allow you to count some of your potential rental income towards your total income for the purposes of getting the loan. You’ll also need a stellar credit rating to get a mortgage loan for a rental property.

Mortgages 84

Mortgages Fixed-rate mortgage Lending Loans 84

Norada Real Estate

JUNE 22, 2022

Among them, non-recourse loans, hard money loans, and private loans are the most popular. In a conventional mortgage, the down payment is the smallest and the rate of interest is also lower. In the case of a Non-Recourse Loan, the investor puts an asset forward. Financing Turnkey Rental Properties With Loan.

Finance 96

Finance FHA loan Investor Loans 96

Marco Santarelli

SEPTEMBER 18, 2024

The recent decision by the Federal Reserve to implement its first interest rate cut in four years carries significant weight, especially for consumers interested in loans, whether they are for homes, vehicles, or other major purchases. For over a year, interest rates have been at their highest point in 23 years!

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Loans Mortgages Banks Fixed-rate mortgage 52

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. Homeowners might also get some tax breaks for mortgage interest and property taxes, which can save you some money.

Marketing 35

Marketing Land Equity Loans 35

Marco Santarelli

MARCH 25, 2025

Fixed Mortgages vs. Variable Rents: This is a big one that often gets overlooked. When you buy a home with a fixed-rate mortgage , your principal and interest payment stays pretty much the same for the life of the loan. You can renovate, decorate, and put down roots in your community.

Equity 52

Equity Fixed-rate mortgage Mortgages Marketing 52

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

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

Marco Santarelli

APRIL 20, 2024

Getting pre-approved for a mortgage gives you a clear picture of your affordability range and strengthens your offer. Consider Adjustable-Rate Mortgages (ARMs): ARMs offer a lower initial interest rate compared to fixed-rate mortgages. Emphasize these features in your marketing materials.

Marketing 105

Marketing Pre-approval New Construction Fixed-rate mortgage 105

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

Marco Santarelli

OCTOBER 17, 2024

15-Year Fixed Rate : Increased to 5.63%, up from 5.56%. 5-Year ARM Rate : Climbed significantly to 6.84%, up from 6.56%. Conforming Loans Rate : 30-Year Fixed at 6.16%, 20-Year Fixed at 5.99%. Recent Changes : Up 8 basis points from 6.22% and 2 basis points from last week’s average of 6.28%.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Closing costs 52

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. If you take the highest loan amount, you risk maxing out your available funds and becoming “house poor,” without liquidity. Be sure to include income and debt for everyone on the loan application.

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Debt-to-income ratio Closing costs Loans Title 71

Windemere Selling

JUNE 13, 2022

Selling When working to ease the financial burden of your existing mortgage, you have two options: refinance or sell. Refinancing your home allows you to renegotiate the terms of your loan and lower your monthly mortgage payment, while selling has the potential to put enough cash in your pocket to pay off your mortgage entirely.

Debt-to-income ratio 52

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

Realtor.com

JANUARY 26, 2023

Some recent buyers are now underwater on their mortgages Plenty of recent buyers find themselves watching nervously as their neighbors’ homes sell for less than what they paid for their own just a few months earlier—leading them to the inevitable conclusion that their own home valuations appear to be falling.

Marketing 91

Marketing Fixed-rate mortgage Closing costs Mortgages 91

Marco Santarelli

JANUARY 15, 2025

Below are insights into common mortgage options: 30-Year Fixed Mortgage Rates Pros: Lower monthly payments due to extended loan terms. Cons: Generally higher interest rates than shorter-term loans, translating to more interest paid over time. Predictable monthly payments offer stability for budgeting.

VA loan 52

VA loan Mortgages FHA loan Loans 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% Interest Rate Loan Amount: $400,000 Interest Rate: 7.5% Interest Rate Loan Amount: $400,000 Interest Rate: 6.5%

Mortgages 52

Mortgages Principal Pre-approval Fixed-rate mortgage 52

Marco Santarelli

SEPTEMBER 5, 2020

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88%. The 15-year fixed-rate mortgage dropped to 2.44%. Renovation.

Marketing 135

Marketing Purchase and sale agreement Investor Sales 135

Marco Santarelli

FEBRUARY 26, 2025

It's a flexible way to borrow money for things like home renovations, consolidating debt, or even unexpected expenses. The thing about HELOCs, though, is that most come with variable interest rates. This means your rate can change over time, unlike a fixed-rate mortgage where your rate stays the same for the life of the loan.

Debt-to-income ratio 52

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

Toronto Realty Blog

SEPTEMBER 7, 2023

I don’t know if I expected the readers to have sympathy for variable rate borrowers who had amnesia in 2023 and forgot that they made a choice two years ago when they obtained a mortgage, but there were certainly some “looks good on ‘ya” comments. Others cringe, shudder, and tune out.

Marketing 105

Marketing Land Development Banks 105

Marco Santarelli

JULY 30, 2020

Last week, the average rate on 30-year fixed-rate mortgages dipped below 3% for the first time on record and this week stood at 3.01%, down from 3.75% a year ago, according to Freddie Mac. Moreover, it's even harder to take out a mortgage for those who have student loan debt.

Marketing 139

Marketing Investor Sales As-is 139

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

Realty Biz

SEPTEMBER 23, 2021

With interest rates still at record lows, many South Florida homeowners have refinanced their home loans. So not only are many homeowners paying lower mortgage payments today; they are doing so while their wealth (home equity) has significantly increased. Home equity can be tapped for renovations, college loans and more.

Sales 104

Sales Fixed-rate mortgage Short sale Equity 104

Marco Santarelli

JANUARY 10, 2025

Simply put, the mortgage rate is the amount of interest a lender charges you to borrow money for a home loan. Rates can fluctuate based on various economic factors, including inflation, employment rates, and even political events, which can affect investor confidence and mortgage costs.

Mortgages 52

Mortgages Loans VA loan FHA loan 52