Marco Santarelli

DECEMBER 22, 2024

Understanding these rates is important for making informed decisions in the housing market, whether you're buying a home or refinancing your current mortgage. Economic Conditions: Factors such as the overall health of the economy, inflation rates, and the employment market all play crucial roles. Are mortgage rates expected to drop?

Mortgages 52

Mortgages VA loan Fixed-rate mortgage Debt-to-income ratio 52

HomeLight

SEPTEMBER 30, 2020

The best way to get a deal on a short sale is to find one that’s priced under fair-market value. “You have to wait for the current owner’s bank to approve the short sale,” says Jessica Sanchez, Director of Underwriting and Loan Management at HomeLight. All short sales require bank approval.

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Short sale Loans Sales Pre-approval 138

HomeLight

FEBRUARY 12, 2021

Department of Housing and Urban Development (HUD) created the Federal Housing Administration (FHA) loan program in 1934 to help more Americans afford houses with government insured home loans that are easier to qualify for than most conventional loans. FHA loans help make homeownership more accessible. Foundation damage.

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FHA loan Loans Pre-approval Pre-qualification 111

RIS Media

MAY 19, 2021

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

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Closing costs Closing Pre-approval VA loan 116

Marco Santarelli

MARCH 20, 2025

As of March 20, 2025, the mortgage market is showing a slight upward tick , with rates inching up for the second consecutive week. VA Loans – A Benefit for Veterans: Backed by the Department of Veterans Affairs, VA loans offer significant advantages to eligible veterans, active-duty service members, and surviving spouses.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

Lab Coat Agents

FEBRUARY 7, 2023

Are you in the market to buy your first home? ARMs usually start with a lower interest rate than fixed-rate loans, but the rate can increase or decrease over time, depending on market conditions. The minimum down payment for an FHA loan is 3.5%. What Is A USDA Loan? What Are VA Loans?

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FHA loan VA loan Pre-approval Fixed-rate mortgage 96

RIS Media

OCTOBER 29, 2020

Let’s take a look at some of the key things to consider before you jump into the real estate market and buy your first house. There are numerous benefits to FHA loans. If you are a veteran or currently serving, the VA loans program offers great terms. Getting Prepared. Preapproval.

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Pre-approval FHA loan Inspection Closing costs 140

Marco Santarelli

FEBRUARY 16, 2025

Lets dive deeper into the details of these rates and their implications for your monthly mortgage payments, market trends, and overall housing landscape. When mortgage rates are stable or decrease slightly, it can incentivize more buyers to enter the housing market, especially if home prices remain high.

FHA loan 52

FHA loan Mortgages Principal VA loan 52

HomeLight

JULY 31, 2022

Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. To determine your home’s equity, you first need to assess your property’s fair market value. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%. Home Loan program.

VA loan 95

VA loan Purchase and sale agreement Short sale Pre-approval 95

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

Finance 96

Finance Debt-to-income ratio FHA loan Mortgages 96

Lab Coat Agents

NOVEMBER 20, 2024

The seller’s lender must approve the assumption, guaranteeing the buyer is creditworthy and capable of managing the mortgage payments. This approval process helps protect the lender’s interests while offering flexibility for buyers looking to save on their home purchases.

Purchase and sale agreement 98

Purchase and sale agreement Mortgages Pre-approval VA loan 98

HomeLight

SEPTEMBER 21, 2020

The best time to contact a Realtor can be anywhere from three to six months before your house goes on the market. When hiring an agent, military sellers should focus on a key stat in the agent’s track record: days on market (DOM). You can find the average days on market for your city with a quick glance at your city’s page.

VA loan 111

VA loan Purchase and sale agreement Loans Agents 111

Redfin

MARCH 4, 2025

These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. However, chances are you can buy the home below market value and you wont need to negotiate with a seller or bank. If the auction accepts financing, make sure you have a pre-approval ready.

Pre-approval 35

Pre-approval FHA loan Short sale Banks 35

Redfin

APRIL 11, 2025

What used to be a 3-to-7-year stay in a starter home is now stretching much longer as the market remains competitive and interest rates stay high. While starter homes arent as widely available as they once were, they can still be found in certain markets. Getting pre-approved for a mortgage will help you understand what you can afford.

Marketing 31

Marketing Land Equity Loans 31

HomeLight

NOVEMBER 16, 2021

Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. If approved, they move to submit a full application. Buyers will need to meet Home Partners’ minimum FICO requirement, which varies by market, and a maximum debt-to-income ratio (DTI) of 45% to be approved.

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Purchase and sale agreement Pre-approval Debt-to-income ratio Pre-qualification 104

Realty Biz

FEBRUARY 7, 2023

Each of these types of loans has its pros and cons. For example, a VA loan is excellent because it is a no-down payment option. VA loans are specifically for the armed forces. A USDA loan is another no-down payment loan option. You must purchase in a rural area to qualify for a USDA loan.

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Pre-approval Mortgages Pre-qualification VA loan 77

BAM Media

MAY 14, 2024

Define common terms like pre-approval, closing costs, etc. 5— “Understanding Mortgage Options: Finding the Right Fit” Explain different loan types—conventional, jumbo, FHA, and VA loans—and first-time buyer programs that could reduce upfront costs and make homeownership more attainable. #6—

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Pre-approval VA loan Closing costs Loans 111

Marco Santarelli

MARCH 16, 2025

Shopping Around is Crucial: In this market, comparing lenders is more important than ever to find the best deal. Current Mortgage Rate Trends It's Sunday, March 16, 2025, and if you're in the market for a home, understanding today's mortgage rates is essential. The 30-year VA is at 6.15% , and the 15-year VA is even lower at 5.59%.

Mortgages 52

Mortgages Fixed-rate mortgage Principal Loans 52

HomeLight

JUNE 28, 2021

With properties often available below market value and down payment options potentially as low as 3.5% , purchasing a HUD home could be your golden ticket. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores. No problem!

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Pre-approval Pre-qualification FHA loan Inspection 105

RIS Media

AUGUST 5, 2020

The 2019 – 2020 State of Asia America Report , an annual AREAA publication, provides a snapshot of the state of AAPI homeownership pre-COVID-19. Just 6 percent and 2 percent of Asian loan applications are for FHA loans and VA loans, respectively. Additional closing costs associated with VA loans.

VA loan 95

VA loan FHA loan Pre-qualification Loans 95

Realty Biz

DECEMBER 12, 2022

Mortgage Pre-Approval and Pre-Qualification Are Not The Same. Securing conditional approval for a mortgage is the optimal method for determining the amount of borrowing capacity. Obtaining preapproval does not guarantee approval of a mortgage. percent with an FHA loan. You can put down as little as 3.5

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Debt-to-income ratio Mortgages Pre-approval Pre-qualification 87

HomeLight

OCTOBER 26, 2021

But that is only a preliminary step to getting final approval for a mortgage. Cash is your liquid assets, including bank accounts, investments you have access to (such as money market funds), and funds that are gifted to you for your down payment or provided through a program. The last step is the approval process.

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Pre-approval Mortgages Loans Loan Officer 104

Marco Santarelli

DECEMBER 12, 2024

Colorado Springs is predicted to be the hottest housing market in 2025 , according to a recent forecast by Realtor.com. Colorado Springs Housing Market to Boom in 2025 I've been following the real estate industry for a while now and the forecasts from reliable sources like Realtor.com are always interesting.

VA loan 52

VA loan Marketing Pre-approval FHA loan 52

Realty Biz

SEPTEMBER 23, 2023

They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. Understanding the mortgage process, including prequalification and pre-approval, is also essential.

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Purchase and sale agreement Pre-approval Agents Pre-qualification 70

Redfin

MAY 11, 2022

How to improve your chances of getting approved for a mortgage even with bad credit. Get pre-approved for a mortgage. One of the first items on your to-do list should be getting a mortgage pre-approval. Pre-approvals show the amount a lender is willing to let you borrow and the interest rate attached to that loan.

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Pre-approval Debt-to-income ratio VA loan FHA loan 66

Redfin

JULY 31, 2024

Understand loan options: Learn about different mortgages like conventional, jumbo, and government-backed loans (FHA, VA, USDA). Prepare thoroughly : Improve your credit score, set a budget, and get pre-approved to streamline the home-buying process and secure a favorable mortgage. Did you know?

Pre-approval 71

Pre-approval Pre-qualification Mortgages Loans 71

Realty Biz

JANUARY 19, 2024

By following these steps, you can easily navigate the real estate market. This documentation will be necessary when applying for a mortgage pre-approval. Research different types of mortgages available, such as conventional, FHA, or VA loans. It's advisable to reach out to multiple lenders and obtain pre-approval.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

AUGUST 16, 2021

You can qualify for loans with as little as 3.5% Service members, veterans, and surviving spouses qualify for these loans with 0% down. Further, he notes, would-be buyers using down payment assistance might find a challenging landscape in an uber-competitive market. down if you have a minimum credit score of 580.

Loans 105

Loans VA loan FHA loan Purchase and sale agreement 105

Redfin

AUGUST 12, 2024

These loans offer significant advantages, including no down payment, no PMI, and competitive interest rates. Additionally, VA loans have limited closing costs and no prepayment penalties. A lower DTI indicates better financial health and increases your chances of loan approval.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

HomeLight

MARCH 30, 2021

Do note that in a strong housing market, short sales will be much rarer and harder to find, because it’s far less likely for a homeowner to end up underwater. If not, some language in the listing might provide clues that they are in fact short sales, such as “subject to bank approval,” “notice of default,” or “headed for auction.”.

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Short sale Sales Pre-approval Closing costs 80

Real Trends

OCTOBER 23, 2022

Buying a home for the first time can be daunting, especially with how the market has been over the past few years. First-time homebuyers’ extra jitters during today’s market. High mortgage rates and a softening market are definitely the biggest concern on homebuyers’ minds right now.

VA loan 72

VA loan Pre-approval Fixed-rate mortgage Loans 72

HomeLight

AUGUST 31, 2020

If you don’t have a lot of cash saved and you are a veteran or looking for a home a bit outside of the city, then you may qualify for no-down payment loans, such as a VA or USDA loan. When loan environments are riskier (like during an economic recession), it can be harder to get these kinds of loans.

Debt-to-income ratio 93

Debt-to-income ratio FHA loan Pre-qualification VA loan 93

Redfin

AUGUST 29, 2024

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). FHA loan: These loans are backed by the Federal Housing Authority (FHA) and primarily help low-to-moderate-income borrowers who are less likely to qualify for conventional loans.

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Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

HomeLight

MARCH 6, 2023

Whether you’re new to the housing market or buying a second home, it’s easy to get confused with all the lingo. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Get Estimate What is a home appraisal?

Pre-approval 87

Pre-approval Banks Loans Inspection 87

CT Homes

APRIL 4, 2024

Typical Closing Process and Timeline Loan Application and Pre-Approval : Typically takes 1-3 days for pre-approval, with the full application process extending up to 2 weeks. Property Search and Offer : The duration of this step varies greatly depending on market conditions and buyer preferences.

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Closing Pre-approval Inspection VA loan 55

Redfin

FEBRUARY 10, 2021

What to Expect for the Housing Market in 2021. housing market is different. While the economy expands and contracts, the housing market reacts, producing buyers and seller’s markets. The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

The Close

SEPTEMBER 2, 2020

It is widely known that email is an effective form of marketing. The problem is likely that your customers are receiving the “marketing” but not the “message.”. Focus on Who Your Marketing Is Actually Targeting. 4 What is the difference between an FHA and conventional loan? 8 How do I get approved for a loan?

Purchase and sale agreement 124

Purchase and sale agreement Renovation Pre-approval VA loan 124