HomeLight

DECEMBER 28, 2023

In this post, we will walk you through everything you need to know about transferring or “assuming” a home loan. Partner With a Top Agent Familiar With Assumable Mortgage Listings HomeLight can connect you with a top-performing real estate agent who understands the ins and outs of assumable mortgage listings in your market.

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Loans Purchase and sale agreement VA loan Mortgages 108

HomeLight

JULY 31, 2022

Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan.

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VA loan Purchase and sale agreement Short sale Pre-approval 80

HomeLight

MARCH 28, 2022

According to the National Association of Realtors®, homeowners usually stay in their homes for 13 years , which is plenty of time to build equity before selling. It’s likely cheaper than renting, even if you’re not staying long enough to build much equity. If you’re planning on using a VA loan, how does that impact affordability ?

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VA loan Loans Debt-to-income ratio Closing costs 93

HomeLight

MAY 14, 2024

Step one: Talk to an expert Connect with a top-rated local real estate agent who can help you navigate rent-to-own options near you. Here’s what you typically need for various loan types: FHA loans: Minimum credit score of 580 for 3.5% VA loans: No set credit score requirement, but lenders typically prefer 620+.

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VA loan FHA loan Loans Closing costs 60

Real Trends

MAY 9, 2023

So what can agents who are Realtors do? Be an advocate for local broker marketplaces and how the way commissions are paid create competitive, efficient markets for small businesses and ensure equity, transparency and market-driven pricing for home buyers and sellers. Just with agents who are Realtors alone, there are 1.5

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MLS VA loan Equity Agents 94

HomeLight

JANUARY 22, 2024

Matt Megel , managing partner with CAZA Group , which sells homes 85% faster than the average Virginia agent, says that unlocking their home’s equity on a budget is one of the main drivers for homeowners wanting to sell their property “as is.” “One Your agent should also be willing to go the extra mile on marketing.

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As-is Inspection Renovation Equity 100

HomeLight

AUGUST 9, 2022

As we mentioned, your lender will need to see that you do actually have the money as part of your loan approval process — a current bank statement will usually suffice — but you won’t need to transfer it out until closing day. Real Estate Agent. Real Estate Agent at Berkshire Hathaway HomeServices, PenFed Realty Texas.

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Windemere Buying

JUNE 25, 2021

Buyers are constantly looking for ways to streamline the buying process , whether that’s working with their agent to identify how they can increase their buying power , getting pre-approved , or being as cash-ready as possible. Although PMI can raise the buyer’s monthly costs, it allows them to move in and start building equity immediately.

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VA loan Mortgages FHA loan Pre-approval 52

The Close

NOVEMBER 25, 2022

Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment! Real estate agents with the MRP designation are then listed in NAR’s MRP search. Some agents absolutely love hosting events.

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VA loan Loans Loan Officer Finance 77

Redfin

APRIL 7, 2023

To help you get started, we turned to some of Redfin’s top Partner Agents in San Diego to help you navigate the process with confidence. Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 59

HomeLight

MARCH 9, 2023

So it’s a great time to be a first-time homebuyer,” explains New Jersey real estate agent Chiquita Pittman , a first-time homebuyer specialist with 25 years of experience. HomeLight can connect you with an experienced buyer’s agent who will walk you through the process of buying your first home. Hispanic 51.5%

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Loans Debt-to-income ratio VA loan FHA loan 74

HomeLight

JUNE 22, 2023

Would you say it’s trying to find the right real estate agent ? Save thousands when buying a home HomeLight recommended real estate agents are top-tier negotiators who understand the market data that helps you save as much as possible when buying your dream home. Step one: Talk to a few buyer's agents!

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Debt-to-income ratio Mortgages FHA loan Loans 95

HomeLight

AUGUST 26, 2020

Use the equity in your home. The real estate market is always changing, and if your home has increased in value , you may want to consider refinancing and tap into the equity in your home. However, if you only have 10% equity, they’re likely to make a market analysis comparison to determine if an appraisal is necessary.”.

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Fixed-rate mortgage Equity Loans VA loan 144

HomeLight

SEPTEMBER 1, 2022

With the help of Daniel Real , a top agent in Modesto, California who works with 75% more single family homes than the average Modesto agent , we’ll give you the information you need to succeed as a California homebuyer. Real Estate Agent. Real Estate Agent at PMZ Real Estate. Find a local agent. Daniel Real.

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Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Department of Agriculture (USDA) or U.S.

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Debt-to-income ratio VA loan Fixed-rate mortgage Loans 97

HomeLight

JUNE 21, 2023

“A lot of times, these are first-time homebuyers who are wanting to purchase a home, but the extra $6,000 to $8,000 in closing costs can be the difference between them being able to really qualify for the home,” says Jon Baird , an agent based in Chico, California, who specializes in single-family homes. Program highlights Buyers save 0.7%

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Loans Debt-to-income ratio FHA loan Closing costs 97

Realty Biz

JANUARY 11, 2023

There are programs where you can put ZERO down if they are using a program like a VA loan or down payment assistance loan. However, some loans only require you to put down 6% on your first home. If you qualify for a USDA loan, you'll find their mortgage rates are usually as low as V.A. mortgage rates.

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FHA loan VA loan Closing costs Loans 81

Lighter Side of Real Estate

SEPTEMBER 20, 2023

When you find one you want to buy, have your agent ask the seller’s agent if the owner has an assumable loan, and if they’d be agreeable to letting you assume theirs. If you default, one of the banks is first in line to recoup their money, while the other has to hope there’s enough equity for them to get paid back.

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Mortgages VA loan Loans Banks 86

Realtor.com

DECEMBER 7, 2022

And if you’re a homeowner, you can expect prices to rise, which gives you more equity in your home.”. Department of Veterans Affairs loans. The VA loans are attractive because borrowers don’t have to put any money down to buy and can often score lower mortgage interest rates as well. were made with FHA loans.

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Realty Biz

MAY 19, 2022

Most people buy their homes with the assistance of mortgages or VA loans. Down payments can vary depending on the terms of your mortgage or loan, ranging anywhere from 5% to 20%. While you can build equity by owning a home, renting comes with advantages. Do I have enough money saved? What are the advantages of renting?

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Purchase and sale agreement VA loan Loans Principal 89

The Close

DECEMBER 29, 2022

Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients. It might feel stressful, but handling contingencies well is actually a time when you, as the agent, can really shine.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

FEBRUARY 27, 2023

You might also need an appraisal if you want to refinance to get a better interest rate or cash out some equity. But in Indianapolis, you will typically see appraisal costs come in somewhere between $450 and $600, says Kyle Williams , a top agent who works with nearly 70% more single-family homes than the average Indianapolis agent.

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Equity Agents VA loan Construction 94

HomeLight

NOVEMBER 29, 2021

Agents say the ongoing demand for houses is being heavily driven by people fleeing more expensive areas of the country. While most people have heard that 20% down is some kind of standard, many are unaware that it is possible to buy a home with as little as 3% down — or even no money down, depending on the loan requirements.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 96

HomeLight

JANUARY 4, 2022

The amount you can borrow through a home equity loan will also depend on how much your home appraises for. The appraiser’s client is typically the lender, and the appraised value determines the amount of funds a lender is willing to provide or how much equity a homeowner can borrow from. What can hurt an FHA or VA appraisal?

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VA loan Loans Renovation As-is 124

HomeLight

JULY 31, 2020

According to data collected by EllieMae, a software company that processes more than 30 percent of the nation’s mortgage loans, 2019 statistics show that the average down payment for FHA loans was 5%. Conventional loans were more likely to have a 20% down payment, and VA loans averaged just 2% down.

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HomeLight

DECEMBER 29, 2021

In fact, Tamara Bourne , a top-selling agent in Atlanta ’s South Metro who sells 84% more properties than her peers in Peachtree City, says she looks at a home like an appraiser does when she goes to a listing property. FHA and VA loans have additional requirements an appraiser must evaluate, most of which relate to safety and soundness.

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Purchase and sale agreement VA loan Loans Agents 107

HomeLight

APRIL 20, 2023

Matt Durbin , a top agent in Western Pennsylvania with 14 years of experience helping homebuyers, says that “a lot of times people miscalculate what they’re going to need in total cash at closing to get a purchase done in our area, especially if they’re moving from another state.” How can I find a top real estate agent in Pennsylvania?

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Closing costs Closing Inspection Loans 90

HomeLight

AUGUST 27, 2020

Department of Agriculture has a program called the Section 502 Direct Loan Program , which helps people with low- to very-low incomes purchase a home. ” The benefit of applying for this type of loan is that it’s 100% financed, which means you don’t have to put any money down.

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VA loan FHA loan Loans Closing costs 57

HomeLight

JANUARY 22, 2024

There are several reasons, which can range from a sudden change in circumstances, to the seller needing to access the equity in their home without making repairs. “It’s You’re looking for an agent who doesn’t shy away from listings that need a little TLC and maybe has a strong network of investor connections.

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As-is Inspection Finance Investor 104

Realtor.com

NOVEMBER 11, 2020

LaVallee: I was interested in gaining equity and ownership, rather than just paying to rent something I’d never own in the end. That’s why we got serious about the process in the middle of the pandemic, and when we connected with our real estate agent, Justin Kirk with Century 21. Johnson: It was 10 or 12 homes.

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VA loan Due diligence Agents Land 89

HomeLight

NOVEMBER 29, 2021

Are you going to be able to let your home’s value increase over time and choose a good market to sell in, or will you be selling the house rather quickly and with minimal equity growth? Minimum down payments can range from as low as 0% up to 5% or even higher, depending on your loan and financial position. Real Estate Agent.

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Equity Loans Mortgages VA loan 106

HomeLight

DECEMBER 30, 2021

Your loan may only require a 3.5% Real Estate Agent. Real Estate Agent at Keller Williams Grand Rapids. An experienced, trustworthy mortgage lender will review your financial situation and help you determine which types of loans and loan programs will best suit your needs. Mike Smallegan. Mike Smallegan.

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VA loan FHA loan Loans Closing costs 97

HomeLight

OCTOBER 1, 2020

Christina Griffin is a top agent who’s listed and sold thousands of foreclosures in Florida. She was drawn to foreclosures because, “For me, having a house that has equity has always been important. Many homebuyers like buying and knowing that they have immediate equity, above and beyond the down payment, in the house.

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Purchase and sale agreement Banks Earnest money deposit Equity 58

HomeLight

NOVEMBER 29, 2021

If the housing market is strong and prices keep going up beyond what’s anticipated, this could mean you start your homeownership journey with some equity stacked up. Clients can immediately move into the home and begin building up equity with their monthly payments. Talk to a loan originator about an FHA or USDA (or VA) loan.

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Purchase and sale agreement FHA loan Loans VA loan 103

HomeLight

JUNE 28, 2021

The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). John Collinge , a multi-year top-producer awardee and 11-year top-selling real estate agent out of Anchorage, Alaska, suggests all HUD homebuyers have a cash reserve. Find a HUD-approved agent. No problem!

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Pre-approval Pre-qualification FHA loan Inspection 101

HomeLight

JULY 7, 2022

According to April Gongora Brown , a New Orleans -based agent who works with 73% more single-family homes than the average agent in her area, it’s completely doable to buy a home with that annual salary — as long as you find a good agent and a good lender. “I Real Estate Agent. It really impacts purchase power.

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Debt-to-income ratio Closing costs FHA loan Loans 117

HomeLight

JUNE 29, 2022

Before contacting a real estate agent, you had no idea how much your house was worth , or how much you could make in a home sale. Agents — and appraisers — use these factors to identify comps. An experienced agent would select a home of similar vintage to price your property. Real Estate Agent. Collier Swecker.

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MLS Seller concession Agents Sales 107