Marco Santarelli

APRIL 24, 2024

Mortgage rates , a crucial factor impacting your monthly payments, can add another layer of complexity. This year, rates have been on an upward climb, exceeding 7% for a 30-year fixed mortgage. In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers.

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Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

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

Realty Biz

APRIL 8, 2024

Answer: Assess your finances to understand what you can afford. This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Answer: What you can afford depends on your income, credit rating, current monthly expenses, down payment, and interest rate.

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Pre-qualification Pre-approval Closing costs FHA loan 57

Realtor.com

APRIL 29, 2021

Yuri_Arcurs/iStock; MattKay/iStock Buying a home and getting a mortgage typically go hand in hand. Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A And make sure you’re aware of the biggest misconceptions about home mortgages.

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Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

Realty Biz

FEBRUARY 7, 2023

Some people will search for mortgage lenders near me if they want their bank to be nearby. We will take you through the steps for choosing the best lender for your finances. Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want.

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Pre-approval Mortgages Pre-qualification VA loan 75

Realtor.com

AUGUST 13, 2020

That’s especially true in the mortgage industry, where interest rates and the overall home loan landscape are shifting with such head-spinning speed, it’s easy for outdated information to circulate, leading home buyers and homeowners astray. 1: Everyone qualifies for low interest rates. 2: Getting a mortgage today is easy.

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Pre-approval Mortgages Loans Fixed-rate mortgage 145

Redfin

DECEMBER 15, 2023

The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. If you’re a homeowner who locked in at a record-low mortgage rate, refinancing your mortgage now would be an impractical choice. What is a mortgage refinance?

Fixed-rate mortgage 66

Fixed-rate mortgage Mortgages Title search Equity 66

Realty Biz

AUGUST 28, 2023

Any purchase of hundreds of thousands of dollars - or sometimes much more, in certain situations - almost always requires either a sizable down payment or a long-term mortgage. However, trouble has been brewing on the horizon for a long time now, and the days of affordable mortgages seem to be at an end for now.

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Pre-approval Fixed-rate mortgage Lending Loans 91

Real Trends

JANUARY 31, 2023

I know some of my colleagues and friends on the mortgage lending side also have experience and hindsight on their side. We know the ebbs and flows and can recall even tougher rate environments. The post How to make home buying less heartbreaking appeared first on RealTrends.

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Pre-approval Fixed-rate mortgage Loans Mortgages 98

Toronto Realty Blog

JUNE 20, 2022

Let’s assume that he made a 20% down payment, or $8,400, and financed the remaining $33,600. You’ve heard of the “interest-only mortgage,” right? He got his ducks in a row early in the year and had a mortgage pre-approval with a 5-year, fixed rate of 2.79%. But of that $492.70

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Principal Fixed-rate mortgage Pre-approval Mortgages 97

Marco Santarelli

JULY 23, 2022

People who recall the subprime mortgage crisis are concerned that the recent spike in home prices followed by a pause signals the bursting of another housing bubble. Many homebuyers may feel that obtaining a mortgage is too risky. There is a lower likelihood that a borrower would default on a mortgage.

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Mortgages Marketing Lending Equity 52

Realtor.com

JANUARY 19, 2022

This meant we weren’t going to back out of the deal unless there was a big, expensive-to-fix issue. Our real estate agent found us a mortgage lender that could close as quickly as an all-cash offer. Not only that, we were about to sign up for 30 years of fixed-rate mortgage payments. Realtor.com.

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Pre-approval Banks Closing Mortgages 110

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Step 1: Understand what percentage of your income should go toward your mortgage . The first step is understanding how much you can afford to spend on a mortgage. Determine your debt to income ratio (DTI).

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Debt-to-income ratio Closing costs Loans Title 70

Housing Wire

AUGUST 29, 2022

In 2021, United Wholesale Mortgage (UWM) CEO Mat Ishbia set a three-year goal to make UWM the No. Ishbia, who started running his father’s mortgage firm in 2013 and has since grown it into the country’s No. 2 lender, isn’t satisfied with second place, behind Rocket Mortgage. “I 1 lender in the country.

Equity 404

Equity Loan Officer Loans Mortgages 404

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

Toronto Realty Blog

MAY 26, 2022

It could take five-year rates from sub-2% to upwards of 6%. Now, consider that the overnight lending rate only has a direct impact on the variable rate mortgage, whereas the fixed-rates are affected by the bond market. So here they are, looking forward to June, and their mortgage rate-hold has expired!

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Fixed-rate mortgage Purchase and sale agreement Banks Mortgages 91

Redfin

JULY 10, 2023

According to a new Redfin study, the average rent price in Austin is $2,951, while the estimated median monthly mortgage cost is $3,801. Stable monthly payments Buying a home with a fixed-rate mortgage means that your monthly mortgage payments stay the same over the duration of your mortgage.

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New Construction Equity Closing costs Purchase and sale agreement 52

Redfin

JUNE 1, 2022

The government usually combats inflation in real estate by increasing mortgage interest rates, but prices continue to rise regardless. Mortgage rates typically move in tandem with inflation. Historically, as prices went up, the Fed raised mortgage interest rates, lowering demand and bringing prices back down.

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Mortgages Pre-approval Fixed-rate mortgage As-is 72

Redfin

FEBRUARY 10, 2023

Ultimately, the decision to rent an apartment or house or buy a home in Seattle is personal and depends on several factors, such as your finances, your desire to stay long-term in the area, and where exactly you want to live. So, as you pay off your mortgage , you’ll also build equity.

Equity 57

Equity Closing costs Mortgages Pre-approval 57

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.

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

Toronto Realty Blog

DECEMBER 14, 2022

October 19th, 2022, I wrote, “Should Tenants Be Pre Approved For Candidacy?” Instead of showing a condo, gathering supporting documents, and submitting an offer to lease, agents are sending supporting documents first , to ask if their tenants would be “approved.”

Development 81

Development Purchase and sale agreement As-is Marketing 81

Marco Santarelli

AUGUST 2, 2020

Let us continue to explore the housing market trends — from pre-COVID-19 days until July. About 1 percent of Redfin customers waived either a financing or inspection contingency last month. It seems they want to cash in on the opportunity to purchase their favorite properties amid a historically low-interest rate of 3.3

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Marketing Sales Pre-approval Investor 142