Windemere Selling

JUNE 13, 2022

Homeowners can often reach a financial fork in the road when they must decide to either refinance their existing mortgage or sell their home. Each route has its respective advantages depending on your financial health, the mortgage rate market , and the future needs of your household. So, how do you decide between the two?

Debt-to-income ratio 52

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

Marco Santarelli

APRIL 26, 2023

One of the most significant factors impacting the housing market is interest rates. Housing market interest rates (or mortgage rates) play a crucial role in the decision-making process for both homebuyers and sellers. The rising interest rates doubled mortgage interest rates in 2022, peaking at 7% in November.

Marketing 52

Marketing Debt-to-income ratio Fixed-rate mortgage Banks 52

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 361

Closing Fixed-rate mortgage Debt-to-income ratio Lending 361

Redfin

FEBRUARY 11, 2021

If you’re a first-time homebuyer you’ve surely been putting pencil to paper to estimate what your future mortgage payment, taxes, insurance, and maintenance will be on a new home. However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI).

Debt-to-income ratio 65

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 65

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. Take a good look at your monthly income and expenses. Student loans.

Debt-to-income ratio 70

Debt-to-income ratio Closing costs Loans Title 70

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 84

Debt-to-income ratio Mortgages FHA loan Loans 84

Marco Santarelli

SEPTEMBER 30, 2023

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. FHA mortgage rates don't use risk-based pricing models, so there are no added fees or premiums for lower credit scores.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Home financing. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! It’s an exciting step in life, to be sure.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

Realty Biz

DECEMBER 30, 2022

If you fall into this category, you'll need to learn how mortgages work. More specifically, you'll need to spend some time educating yourself on the different types of mortgage loans. It'll also help you get access to the best mortgage rates around. Conventional Mortgage. Government-Backed Mortgage.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

Point2Homes

NOVEMBER 8, 2020

Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage?

Debt-to-income ratio 75

Debt-to-income ratio Mortgages Fixed-rate mortgage Closing costs 75

HomeLight

AUGUST 28, 2020

If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? How is your rate determined? And how do you get a low rate?

Mortgages 80

Mortgages Loans Fixed-rate mortgage Principal 80

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

Fixed-rate mortgage 60

Fixed-rate mortgage Equity Debt-to-income ratio Loans 60

Real Estate Finance HQ

AUGUST 25, 2017

The FHA, a unit of the Department of Housing and Urban Development, was created in 1934 specifically to help low- and moderate-income families obtain financing for home ownership. Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. FHA Requirements.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

HomeLight

MARCH 11, 2022

Understandably, many buyers worry they can’t afford a mortgage in this highly desirable state. As Michael Stegman of Duke University, observes, “ Saving for a down payment remains one of the biggest barriers to obtaining a home mortgage ,” and in many cases, down payment assistance has become “the first rung on the homeownership ladder.”.

Closing costs 90

Closing costs Debt-to-income ratio Fixed-rate mortgage Loans 90

HomeLight

NOVEMBER 29, 2021

Some mortgage programs require no down payment but can have strict eligibility requirements. First-time homebuyers may need a 20% down payment to avoid mortgage insurance (MI), which can sometimes be a difficult hurdle to clear. of the total mortgage toward their down payment. American Dream Down Payment Assistance Act.

Land 87

Land Closing costs Purchase and sale agreement Loans 87

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. 4 Key Interest Rate Questions That Could Save Your Clients Money. Amortization.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97