Realtor.com

JULY 5, 2021

More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices. Those lower monthly payments, instead of traditional 30-year fixed-rate mortgages, are proving to be a strong lure for buyers looking to afford a home in the white-hot housing market.

Mortgages 121

Mortgages Fixed-rate mortgage Principal Loans 121

Housing Wire

MARCH 20, 2023

It is often said that the Fed raises interest rates until something breaks. Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” In 2021, mortgage originations hit a record high of $4.4 trillion in 2023.

Banks 392

Banks Mortgages Fixed-rate mortgage Loans 392

Redfin

NOVEMBER 18, 2020

In short, a mortgage is a loan from a lending institution to cover a home’s purchase. The bank or lending institution holds the note for the house as collateral for the loan. The mortgage is also called a “lien against property,” or sometimes referred to as a “claim on property.”

Mortgages 71

Mortgages Principal Fixed-rate mortgage Loans 71

HomeLight

SEPTEMBER 30, 2020

A refinance is just another way of saying that you’re trading in your current mortgage loan for a new one. That said, if you want to refinance for a 15-year mortgage instead of a 30-year mortgage, or a custom length of time, many mortgage lenders can and will be flexible with your terms. Eliminating mortgage insurance.

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Realtor.com

JULY 5, 2021

More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices. Those lower monthly payments, instead of traditional 30-year fixed-rate mortgages, are proving to be a strong lure for buyers looking to afford a home in the white-hot housing market.

Mortgages 56

Mortgages Fixed-rate mortgage Principal Loans 56

Toronto Realty Blog

JUNE 20, 2022

monthly payment, how much, on average in the first year, was principal being paid down? $7. You’ve heard of the “interest-only mortgage,” right? In the meantime, his mortgage pre-approval expired! With the massive increase in interest rates, he is now looking at a five-year, fixed-rate mortgage of 5.19%.

Principal 97

Principal Fixed-rate mortgage Pre-approval Mortgages 97

Redfin

JULY 11, 2023

Essentially, a mortgage enables individuals to become homeowners by providing the necessary funds upfront, with the property serving as security for the loan. How does a mortgage work? When you take out a mortgage, the lender provides you with a specific amount of money to buy a home. What are the different types of mortgages?

Pre-approval 59

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

Housing Wire

DECEMBER 29, 2023

“It finally seems like we are turning a corner and that’s good news after two years of the Fed’s negative perspective that we’ve heard,” Max Slyusarchuk, CEO of A&D Mortgage , said in an interview. Jon Overfelt, director of sales and principal at American Security Mortgage Corp.

Mortgages 450

Mortgages Loan Officer Loans Equity 450

Toronto Realty Blog

FEBRUARY 24, 2021

So while the buyer of a house must consider more than just the “sunk cost,” and understand his or her ability to service the mortgage liability each and every month, there’s more than simply cash-flow at play. I had a rate of 4.99%, which many of you today can’t fathom, but at the time, this was quite competitive!

Mortgages 90

Mortgages Fixed-rate mortgage Finance Equity 90

HomeLight

AUGUST 31, 2021

Monthly mortgage payments offer built-in savings through equity gains. If you use a fixed-rate mortgage, your principal and interest will remain the same throughout the life of the loan, though your property taxes and subsequent homeowner’s insurance can increase over time. Then identify your priorities.

Closing costs 76

Closing costs Loans Equity VA loan 76

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 84

Equity Marketing Loans Principal 84

Toronto Realty Blog

MAY 26, 2022

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. But an increasing interest-rate environment is going to lead to higher fixed-rate mortgages over time. Sure, in theory.

Fixed-rate mortgage 92

Fixed-rate mortgage Purchase and sale agreement Banks Mortgages 92

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. And with most loans, you can drop mortgage insurance when you reach 20% equity.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JUNE 22, 2023

Conventional loan To get a conventional loan , you’ll need to go to a private financial institution, which include banks, credit unions, and mortgage companies. Q: What’s included in my monthly mortgage payment? A: Your monthly mortgage payment isn’t just paying back the money that you borrowed.

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

Toronto Realty Blog

JANUARY 6, 2022

Once upon a time, we saw a mortgage as a large liability. “I owe that much money to the bank,” we might think. Today, most of us, especially myself, see a mortgage as a payment plan. That is how I would choose to see that “half million-dollar mortgage” rather than being scared by the large number.

Fixed-rate mortgage 99

Fixed-rate mortgage Banks Mortgages As-is 99

Realtor.com

APRIL 26, 2021

Mortgage refinancing is where you apply for a new loan on a home you already have. People refinance for many reasons—namely to save money or tap in to their home equity—but whether this decision is in your interests depends on your own personal circumstances. You’re underwater on your mortgage. But is a refi right for you?

Mortgages 109

Mortgages Fixed-rate mortgage Equity Loans 109

HomeLight

JANUARY 31, 2022

Mortgage insurance protects lenders in the event that you stop making payments on your loan, so expect your lender to require it if your down payment is less than 20% on a conventional loan, or if you’re taking out a FHA loan (regardless of down payment amount). It will be split up and included in your monthly mortgage payments.

Loans 92

Loans Mortgages FHA loan Principal 92

The Close

DECEMBER 29, 2022

How else would you and your clients understand how much is being paid in principal and interest over the years? Annual percentage rate (APR). Clients may be confused about the difference between an interest rate on their mortgage loan and an APR. This is the amount of a property that a person (not the bank) actually owns.

Purchase and sale agreement 98

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

HomeLight

NOVEMBER 29, 2021

First-time homebuyers can apply for a forgivable loan of up to $15,000 to assist with closing costs and down payment or principal reduction. You must secure a mortgage through one of the program’s member banks and have an income that does not exceed 115% of the HUD median income requirements. YourFirst Mortgage.

Land 89

Land Closing costs Purchase and sale agreement Loans 89

Toronto Realty Blog

SEPTEMBER 8, 2022

But let’s leave interest rates off the list, even though the Bank of Canada increased the overnight lending rate by 0.75% on Wednesday, because we knew that was going to happen. I want to talk about three things: trigger rates, variable vs. fixed spread, and alternative lenders.

Marketing 91

Marketing Fixed-rate mortgage Banks Principal 91