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

JULY 3, 2023

homeowners with mortgages have an interest rate below 6%, according to Redfin. Competition in the industry is even more fierce with the number of mortgage transactions expected to drop to 5 million in 2023 from 16 million in 2019, Lugat said, citing data from the Mortgage Bankers Association (MBA). Nearly 92% of U.S.

Loan Officer 370

Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

DECEMBER 30, 2022

Temporary rate buydowns that lower mortgage rates during the initial period will be products LOs will be pushing for, as well as diversification of mortgage products that include renovation products or construction loans. Instead, they’ll be seeking to renovate their homes.”. in 2023, peaking to 6.5%

Loans 435

Loans Renovation Construction Mortgages 435

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

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

AUGUST 15, 2022

HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing. The interest rate for a 30-year, fixed-rate mortgage averaged 5.22% as of August 11, according to Freddie Mac’s most recent weekly Primary Mortgage Market Survey.

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

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

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

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

Housing Wire

MARCH 10, 2023

Toohig adds that lenders are telling him that their customers “don’t want to do a new 30-year fixed-rate mortgage at 6.25%, and we’d rather do a smaller-balance HELOC [home equity line of credit] instead to improve their property.”

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

RIS Media

AUGUST 6, 2021

Freddie Mac recently announced that the 30-year fixed mortgage rate (FRM) averaged 2.77%, according to its Primary Mortgage Market Survey® (PMMS®). Mortgage details: – 30-year fixed-rate mortgage averaged 2.77% with an average 0.6 point for the week ending Aug.

Fixed-rate mortgage 105

Fixed-rate mortgage Mortgages Investor Renovation 105

Realty Biz

JULY 19, 2021

Getting mortgage approval is usually fairly easy, especially when going through the same mortgage company that currently holds your loan. Moving From an Adjustable-Rate to a Fixed-Rate Mortgage. But after a certain period, perhaps 5 or 10-years, the interest rate might be allowed to fluctuate.

Mortgages 145

Mortgages Fixed-rate mortgage Equity Loans 145

Point2Homes

AUGUST 28, 2020

A strong housing market can mean good things for the economy in general , since homebuyers also tend to spend money on appliances, renovations and furniture. stock market’s recovery, too, even amidst the challenges surrounding the pandemic and high unemployment rates. Effect on Economy Overall.

Fixed-rate mortgage 111

Fixed-rate mortgage Loans Renovation Equity 111

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

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

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

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 Commercial 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.

House Flipping 98

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

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

Realty Biz

OCTOBER 10, 2022

You’ll also need a stellar credit rating to get a mortgage loan for a rental property. You’ll need a credit rating of at least 620 to qualify for a loan to buy a rental property. However, you’ll have better luck getting a 15- or 30-year fixed rate mortgage for a rental property with a credit score above 740.

Mortgages 84

Mortgages Fixed-rate mortgage Lending Loans 84

Marco Santarelli

MAY 13, 2024

Additionally, lenders could explore ways to mitigate the risk associated with rising interest rates , potentially through offering adjustable-rate mortgages (ARMs) with longer introductory periods or fixed-rate mortgages with buydowns that lock in a lower rate for a set period.

Fixed-rate mortgage 105

Fixed-rate mortgage Development Technology Construction 105

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

Realty Biz

APRIL 19, 2024

The 30-year fixed-rate mortgage rate was at 6.6 As a result, builders and renovators sweat. Redfin reported that in January 2024, the American median home sale price was approximately $402,000. This average increased by 5.1 percent from the previous year. Furthermore, we can establish a 2.8

Marketing 89

Marketing Fixed-rate mortgage Construction Residential 89

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. In addition to using a credit card, a mortgage loan diversifies your credit, thus increasing your score.

Equity 98

Equity Fixed-rate mortgage Loans Mortgages 98

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

Norada Real Estate

JUNE 22, 2022

They usually buy them at REO auctions, renovate them and rent them out to the tenants, before putting the property on the market for sale. If your down payment is lower than 20%, your loan-to-value ratio for conventional financing will be higher than 80%, and your lender may require you to pay private mortgage insurance.

Finance 96

Finance FHA loan Investor Loans 96

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

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. If you go for it, you will have to deal with the renovation of your property and legal aspects, such as licenses and permits.

Fixed-rate mortgage 83

Fixed-rate mortgage Renovation As-is Construction 83

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

OCTOBER 17, 2024

Additionally, the average 15-year fixed refinance rate has seen an increase, now at 5.63% , which may appeal to those looking to pay off their mortgage sooner while keeping payments manageable. Adjustable-Rate Mortgages (ARMs) : ARMs start with lower introductory rates that can increase after a specified time.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Closing costs 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

Windemere Selling

JUNE 13, 2022

“Cash-out refinancing” allows you to accept a mortgage for more than your principal balance and use the extra money at your discretion. Typically, homeowners will use such funds for large expenses, such as a major renovation or home improvement project.

Debt-to-income ratio 52

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

Realtor.com

JANUARY 26, 2023

Renters might have to cough up a security deposit or sometimes even two months rent upfront, but they’re not on the hook for a down payment for a home plus closing costs on top of renovations, maintenance, and the plumber’s bill if the toilet overflows. And eventually, they might be higher than a monthly mortgage payment.

Marketing 91

Marketing Fixed-rate mortgage Closing costs Mortgages 91

Redfin

SEPTEMBER 27, 2021

Keep in mind that you’ll need to account for taxes, insurance, repairs and renovations, along with increased utility expenses. Your mortgage payment is the largest ongoing cost of homeownership. With most 30-year or 15-year conventional loans, homeowners will have a fixed-rate mortgage.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

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

Rent, Buy & Sell

JANUARY 20, 2023

So, by lowering mortgage rates during a recession, the federal government hopes to buoy home sales by making it cheaper to borrow mortgages. In late January 2007, the average rate for a 30-year fixed-rate mortgage in the U.S. For example, a homeowner may hire a contractor to do a kitchen renovation.

Title search 59

Title search Short sale Title Fixed-rate mortgage 59