The Mortgage Report

JULY 10, 2025

Can You Refinance a Home Equity Loan Without Refinancing Your Mortgage? By Valencia Higuera Reviewed By Aleksandra Kadzielawski July 10, 2025 - 4 min read Key Takeaways You can refinance a home equity loan or HELOC without refinancing your first mortgage. Check your best options to tap home equity.

Equity

HomeLight

OCTOBER 28, 2024

You can check real estate websites or consult with a local agent to get an idea of average days on market and recent sale prices. Understanding your motivation will also assist your agent in tailoring the home-selling process to your needs, whether it’s selling quickly or maximizing profit. Do you have profit-level home equity?

Pre-approval

The Mortgage Report

JULY 7, 2025

Avoid using home equity loans for depreciating expenses or without a clear repayment plan and return on investment. Avoid using home equity loans for depreciating expenses or without a clear repayment plan and return on investment. Check your best options to tap home equity. Check your home equity loan options.

Equity

Lighter Side of Real Estate

APRIL 29, 2025

Here are some common examples: Money toward closing costs A seller might agree to cover part (or all) of the buyers closing fees, which can be thousands of dollars. So even if you offer money toward closing costs or repairs, you may still walk away with substantial equity gains.

Seller concession

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs. Visit Zillow 7.

Purchase and sale agreement

The Mortgage Report

JULY 8, 2025

What Are the Different Types of Home Equity Loans and Which Is Best? By Valencia Higuera Reviewed By Aleksandra Kadzielawski July 8, 2025 - 5 min read Key Takeaways There are several ways to tap your home’s equity: fixed-rate loans, variable HELOCs, HELOCs with conversion, cash-out refinancing, and home equity agreements.

Equity

Redfin

JANUARY 10, 2025

Arguably, the most important variables to consider before you make the decision to sell are home equity, transaction costs, and local market conditions. Home equity Home equity is a term that measures the value of a home to its owner after all debts and liabilities (like a mortgage ) have been paid.

Seller concession

Redfin

MARCH 4, 2025

One of the benefits of homeownership is building equity – the amount of the home you actually own. Home equity can be used to help you buy a new home, make improvements to your house to increase its value, or pay off debts. So, how do you calculate how much home equity you have? How is home equity calculated?

Equity

Redfin

JULY 29, 2025

A lot of people will ask “Is down payment included in closing costs?” It’s easy to get them confused because they’re both big upfront costs you pay when you’re in the homebuying process. Closing costs are all the fees for the services needed to finalize the home sale.

Closing costs

HomeLight

MARCH 24, 2025

Who pays closing costs in a short sale? Can I hire any agent to handle my short sale? Find a Top Agent For Your Short Sale HomeLight data shows that top-performing agents sell homes more quickly and for more money than average agents. Find Agent 1. How does a short sale affect my credit score?

Short sale

The Mortgage Report

JUNE 10, 2025

Not just the affordability of the house itself, but with closing costs rising, etc., Even if you have all of your money for your down payment and your closing costs. Down payment assistance is a form of financial aid, typically meant to cover a home buyer’s upfront down payment or closing costs.

FHA 203k rehab loan

Redfin

JUNE 13, 2025

Step 3: Research second-time homebuyer programs and loans Step 4: Work with an experienced agent Step 5: Make a strong offer as a second-time homebuyer Step 6: Plan your transition Second-time homebuyer FAQs Is it harder to buy a house the second time? Communicate closely with your real estate agent to align timelines and contingencies.

Debt-to-income ratio

The Close

NOVEMBER 25, 2024

But don’t worry; there are plenty of ways to hunt down these homes, whether you decide to work with a real estate agent or not. Real Estate Agents Investors can work with real estate agents with access to the MLS. If you’re working with a real estate agent, they can hook you up with some good recommendations.

Hard money loan

Redfin

JULY 15, 2025

This Redfin guide is here to be your checklist, breaking down the upfront costs you’ll need to cover to actually close on your home and make it yours. From inspections to closing fees, here’s what you should know (and plan for) before you get the keys. Closing costs So, what are closing costs ?

Closing costs

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Fannie Mae’s HomePath Ready Buyer Program : This offers up to 3% in closing cost assistance when purchasing a HomePath property and completing a homeownership course.

Purchase and sale agreement

The Mortgage Report

JULY 11, 2025

Yes, rates are high, but if you have the right agent or professional, they can help guide you. Making that mortgage payment versus paying rent builds equity. And, with sellers facing more competition, don’t hesitate to ask for extras—whether it’s help with closing costs, appliance packages, or repairs before move-in.

FHA 203k rehab loan

Redfin

JULY 10, 2025

Beyond taxes: Other financial factors to consider Even if you meet the IRS timeline, you’ll want to make sure you’re financially prepared for the other costs and risks that come with an early sale. Have you built enough equity? Here are some common costs to budget for: Real estate agent commission : Typically 5%–6% of your sale price.

Equity

The Living Room

MAY 2, 2025

Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. This step not only clarifies your budget but also positions you as a serious buyer in the eyes of sellers. Financial Preparation for Home Buying: Budgeting for a home extends beyond the down payment.

Earnest money deposit

The Mortgage Report

JULY 24, 2025

Work with a trusted real estate agent and talk to a local lender early. Also, don’t be afraid to ask for home seller credits – right now, sellers are more willing to help with closing costs than they were a year ago.” They may be able to point you to special programs that national banks sometimes overlook,” says Fortune.

FHA 203k rehab loan

HomeLight

MARCH 11, 2025

In short, the more your home appreciates, the more equity you have in it. This increase in value is what every homeowner wants giving you more options when it comes to future financial decisions, like selling, refinancing, or taking out a home equity loan. Can you use equity to buy before you sell?

Equity

The Mortgage Report

JULY 1, 2025

You’ll also have less equity in the home upfront, which could impact your need to sell or refinance the home in the future,” Erickson continues. Ask sellers for concessions to help cover closing costs. Collaborate with the right agent. Choose a real estate agent/Realtor who is experienced, knowledgeable, and reputable.

Loans

Redfin

JULY 23, 2025

Faster equity: Putting more money down means you build equity in your home more quickly. No PMI: A 20% down payment helps you avoid Private Mortgage Insurance, an added monthly cost. It represents the portion of the home’s cost not covered by the mortgage. They typically cover closing costs.

FHA loan

Redfin

JUNE 17, 2025

It can help you save on agent fees, offer the possibility of a gift of equity, and reduce or eliminate your down payment. Gift of equity : A home must be sold at fair market value , but your family member can offer a gift of equity to make it affordable. This requires additional paperwork like a formal gift letter.

Purchase and sale agreement

The Mortgage Report

JUNE 9, 2025

On a national level, Fannie Mae’s HomeReady program is worth a close look, especially for very low-income buyers—it offers a $2,500 credit that can go toward down payment or closing costs, which again can create a path to ownership that didn’t seem available. I also wish more buyers gave themselves permission to be imperfect.

FHA 203k rehab loan

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. This way, you’ll have a chance to build equity. What are the closing costs?

Pre-approval

Redfin

JANUARY 28, 2025

However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home. Fewer closing costs: Assuming a loan typically involves lower closing costs compared to obtaining a new mortgage.

Loans

Redfin

JULY 29, 2025

There are plenty of upfront costs you’ll want to be aware of and we listed a few of them. Upfront costs when buying a home Here’s a breakdown of what to expect: 1. Down payment This is your biggest upfront cost—and it goes straight toward your ownership stake (equity) in the home. It’s optional but highly recommended.

Inspection

Redfin

JULY 28, 2025

Table of contents What are prepaid costs when buying a home? So, which prepaid costs should you expect at closing? What should you expect to pay in prepaid costs? How to estimate prepaid costs Closing costs vs. prepaid costs What can you do to prepare?

Earnest money deposit

The Mortgage Report

JUNE 23, 2025

Reduced up-front fees: Many wholesale lenders charge lower origination or lender fees, reducing your total closing costs. Your broker can collect multiple offers and help you understand the interest rates, fees, and closing costs different lenders charge. Do wholesale mortgages come with any fees?

FHA 203k rehab loan

Redfin

APRIL 11, 2025

Real estate agents often see these houses as something that young professionals can afford within their first few years of working. In the past, many homeowners stayed in their starter homes for around three to seven years building equity. Property taxes and upkeep costs are also usually lower for a smaller home.

Marketing

Redfin

MARCH 4, 2025

Of course, you may need specific paperwork depending on your situation or local laws in your area, so be sure to consult with your real estate agent or attorney during the home selling process. These could also include any home equity loans or lines of credit you may have with your lender. Deed Youll need the deed to your house.

Purchase and sale agreement

The Mortgage Report

JUNE 16, 2025

By Peter Warden Reviewed By Aleksandra Kadzielawski June 16, 2025 - 4 min read Key Takeaways Having full equity can make it easier to get a HELOC. HELOCs offer flexibility for home upgrades, college costs, emergencies, or retirement planning. HELOC on a Paid-Off House: Can I Get One? You don’t need to borrow right away.

FHA 203k rehab loan

Redfin

JUNE 9, 2025

This protects both buyers and lenders —buyers avoid overpaying and starting with negative equity, while lenders ensure the home is valuable enough to back the loan. If you own other property, tapping into home equity could help cover the gap. You can also ask for other concessions, such as closing cost credits, to help bridge the gap.

Purchase and sale agreement

The Mortgage Report

JULY 15, 2025

But refinancing means you may end up with a higher interest rate and pay closing costs again. Yes, refinancing means added closing costs and possibly a higher rate, but it’s also the most official and secure way to add someone to both the loan and the title. The short answer: No.

FHA 203k rehab loan

Redfin

JULY 24, 2025

It represents the portion of the home’s cost not covered by the mortgage. Establishes the buyer’s immediate equity in the property. Increased equity : A large down payment gives you more immediate ownership (equity) in your home, which can be helpful for future decisions like selling or taking out a home equity loan.

Principal

The Mortgage Report

JULY 22, 2025

Refinancing comes with closing costs , which usually cost between 2% and 5% of the loan amount. The current market and property value will impact how much equity each party receives. Closing costs and Realtor commissions will cut into the final amount you walk away with. Time to make a move?

FHA 203k rehab loan

The Close

MARCH 11, 2025

This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. Weve identified six steps for how to find for sale by owner homes, along with the advantages and disadvantages of navigating the FSBO process without a real estate agent involved.

Sales