The Mortgage Report

JULY 28, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

The Mortgage Report

JUNE 17, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? Find the best first-time home buyer loan for you.

FHA 203k rehab loan

The Close

NOVEMBER 25, 2024

The right loan type for your investment depends on the property you choose to buy, so you need to be informed about each property type before shopping for homes. For example, you can get a Federal Housing Administration (FHA) loan and pay a smaller down payment if you purchase a triplex where you plan to live.

Purchase and sale agreement

Marco Santarelli

MARCH 4, 2025

VA Loans: For eligible veterans, VA loans offer great benefits, including no down payment and often lower interest rates. FHA Loans: FHA loans are insured by the Federal Housing Administration and are designed for borrowers with lower credit scores or smaller down payments. ARMs can be risky.

Mortgages

The Mortgage Report

JULY 24, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

The Mortgage Report

AUGUST 1, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? What documents are required for a renovation loan?

Renovation

Redfin

MARCH 4, 2025

Key takeaways A foreclosed home means the buyer can no longer make payments and the bank has taken the house. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. The bank or lender typically wont sell a home directly to you, the buyer.

Pre-approval

Marco Santarelli

DECEMBER 22, 2024

Government Loans (FHA/VA) : These loans typically cater to those who might not qualify for conventional mortgages. FHA loans have low minimum requirements for credit and down payments, making them accessible. VA loans are available to veterans and active military members with favorable terms and conditions.

Mortgages

Redfin

JULY 30, 2025

Which loan is right for you? Conventional loans: You have a credit score of 620+, stable income, and can put at least 3% down. FHA loans: You have a credit score of 580+ (or 500+ with 10% down) and a higher DTI ratio. VA loans: You’re an eligible veteran, active-duty service member, or surviving spouse.

Loans

Redfin

MAY 22, 2025

If you’ve received numerous smaller cash gifts, a cleaner approach for your loan application might involve consolidating these funds into an account and then receiving a larger, documented gift from a qualified family member. 60 days) to prove they are legitimate and not a hidden loan.

Loans

The Mortgage Report

JULY 14, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

The Mortgage Report

JUNE 23, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

AAOA

JUNE 9, 2025

Audit Your Finances Spend a weekend gathering bank statements, credit scores, and tax returns. Meet a local lender to confirm what you can borrow with FHA, conventional, or commercial terms. Meet a local lender to confirm what you can borrow with FHA, conventional, or commercial terms. Steps to Your First Multifamily Property 1.

FHA loan

Redfin

JUNE 13, 2025

Lenders generally prefer a DTI below 43%, indicating you can comfortably manage loan payments. If your ratio is higher, explore loan options like VA or FHA loans that accept higher DTIs. Proof of income and employment: To approve your loan, lenders will review your income and financial stability.

Debt-to-income ratio

The Mortgage Report

JULY 15, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? Your interest rate and loan balance don’t change.

FHA 203k rehab loan

The Mortgage Report

JUNE 16, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

Redfin

AUGUST 5, 2025

Chapter 7 If a prospective buyer is looking to apply for a conventional loan after a chapter 7 bankruptcy , typically they’ll be required to wait four years from the court discharge. Types of loans you may be eligible to apply for after bankruptcy After your bankruptcy waiting period, several loan options may be available to you.

Bankruptcy

Marco Santarelli

MAY 9, 2025

Tougher Credit: After the housing crisis in 2008, banks became much stricter about who they lend money to. Lower Down Payment Options: There are some government programs, like FHA loans, that allow people to put down as little as 3.5%. There are other things making it harder to buy a house now.

Debt-to-income ratio

Norada Real Estate

JULY 3, 2025

Understanding Mortgage Rates A mortgage rate is the revolving interest that banks charge for lending money to homebuyers for purchasing real estate. For instance, the current average rate for a 30-Year Fixed FHA Loan is 6.92% , which allows borrowers with lower credit scores or smaller down payments to access financing.

Loans

The Close

JUNE 9, 2025

You get all the perks of homeownership and a built-in cash flow to help pay down the loan faster. Pro Tip FHA loans allow you to buy up to a 4-unit property with just 3.5% What you can do: Keep a separate folder (digital or physical) for all rent receipts, invoices, and bank statements.

VA loan

Marco Santarelli

MAY 21, 2025

Contact multiple lenders banks, credit unions, and online lenders to compare rates and terms. Consider Different Loan Types: Explore options like fixed-rate mortgages , adjustable-rate mortgages (ARMs) , and FHA loans. Shop Around: This is the most important piece of advice I can give.

Mortgages

Marco Santarelli

JUNE 17, 2025

Government Loans Government-backed loans are fantastic options, especially for first-time homebuyers or those with lower credit scores: FHA Loans : The 30-year fixed rate for FHA loans is currently 7.42% , a rise of 0.59% from last week.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Should I Go With A Mortgage Broker Or A Bank? A common question Realtors get from buyers and home owners looking to refinance is “should I go with a mortgage broker or a bank?” They cover the differences between mortgage brokers and banks, the pros and cons of each one and just as importantly, how to find a good lender.

Finance

The Mortgage Report

AUGUST 5, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

Redfin

JULY 31, 2025

What to do instead: To start, request quotes from multiple lenders, including banks, credit unions, and mortgage brokers. Compare interest rates, closing costs, and loan terms carefully. Common loan types include: Conventional Loan: Offers flexible down payment options as low as 3% with private mortgage insurance (PMI).

VA loan

The Mortgage Report

AUGUST 6, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

Loans

Marco Santarelli

JULY 11, 2025

The central bank manages monetary policy by setting the federal funds rate. Although the central bank maintains its independence when making decisions. Consider Different Loan Types: Explore fixed-rate, adjustable-rate, and FHA loans. Inflation: Rising inflation pushes rates higher.

Mortgages

Redfin

JULY 30, 2025

It’s important to note, however, that your credit score influences your interest rate and loan options. Here are the minimum credit scores needed to qualify for certain loans: Conventional loans: 620-660 Jumbo loans: 700 FHA loans: 500-580 VA loans: no requirement USDA loans: typically 620, but can be lower 8.

Pre-approval

HomeLight

JULY 29, 2025

Get Started Do ever-so-light preparations Even for as-is home listings in Minneapolis, Huerkamp typically recommends that sellers complete the following: ​​Clean the house thoroughly Declutter the space Mow the lawn Add fresh paint or lighting “Even basic cosmetic touches can help buyers see potential without breaking the bank.

As-is

Redfin

JULY 29, 2025

Limited financing: There are fewer loan types available for LLCs as they are not typically eligible for regular mortgages, like FHA loans or conventional loans. Personal guarantees: Lenders may require a personal guarantee, a commitment that you will repay the loan yourself if the LLC defaults.

FHA loan

The Mortgage Report

AUGUST 7, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

Equity

Redfin

JULY 30, 2025

Loans and programs for first-time buyers Loan Who qualifies Minimum down payment Minimum credit score Key qualifications Conventional loans Borrowers with good credit and stable income 3% 620 Strong credit, steady income, low DTI ratio FHA loans Borrowers with lower credit scores and limited savings 3.5%

Debt-to-income ratio

Redfin

JULY 2, 2025

Exceptions: Special loan programs for recent job changes Some loan types are more flexible than others: 1. FHA Loans The Federal Housing Administration (FHA) allows applicants to qualify with less job history, especially if they can prove future income or recent graduation.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

A few lenders developed a program called bank statement loans. This new loan program requires business owners to provide 12-24 months bank statements to be used as proof of income. A good loan officer will have a feel for this during your initial discussions. Assets are still required to be fully documented.

Mortgages

Marco Santarelli

MAY 2, 2025

Get quotes from multiple lenders banks, credit unions, and online lenders. Save For a Larger Down Payment: Putting down more money upfront can reduce your loan-to-value ratio (LTV), which can qualify you for a lower rate. But how do you actually find the best rate for you ? Here's my advice: Shop Around: This is the golden rule!

Mortgages

Marco Santarelli

MARCH 5, 2025

And for those who qualify, VA and FHA loans often come with more favorable terms. The Fed sets the federal funds rate, which indirectly affects the interest rates banks charge each other, and ultimately, the rates you pay on mortgages and other loans. Refinance Rates: Is Now the Time to Lower Your Payments?

Mortgages

Marco Santarelli

JUNE 19, 2025

Get quotes from banks, credit unions, and online lenders to find the best rate. Here’s some extra advice: Look at government loans: FHA loans at 6.73% or VA loans at 6.56% could be more affordable if you qualify. Practical Tips for Today’s Rate Environment Navigating these rates doesn’t have to be overwhelming.

Mortgages