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 70

Mortgages Principal Fixed-rate mortgage Loans 70

Redfin

JULY 11, 2023

When considering mortgage options, it’s important to understand the different types available. A fixed-rate mortgage provides stability and predictability, with a consistent interest rate throughout the loan term. How is a mortgage rate determined?

Pre-approval 59

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

HomeLight

AUGUST 31, 2021

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. Unlike real estate, there’s a lower cost of entry to mutual fund and stock market investing.

Closing costs 77

Closing costs Loans Equity VA loan 77

HomeLight

JANUARY 27, 2021

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. They’ll have specialized market information that others won’t. It’s an exciting step in life, to be sure.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

JUNE 22, 2023

To help you understand exactly what you’re getting into, we’ve created a comprehensive guide that answers the most common mortgage questions buyers have for lenders about the mortgage process. The loans offered by these institutions aren’t backed by a government agency, like an FHA loan or a VA loan would be.

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

Realty Biz

DECEMBER 30, 2022

But not everyone has enough money stashed away in the bank to make an all-cash offer on a home. If you fall into this category, you'll need to learn how mortgages work. More specifically, you'll need to spend some time educating yourself on the different types of mortgage loans. Government-Backed Mortgage.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

HomeLight

AUGUST 28, 2020

homeowners don’t even know what their mortgage rate is , much less how it’s factored. We spoke to John Boyles, HomeLight’s Head of Capital Markets, to walk us through the basics of mortgage rates, so you can make an informed decision when it comes to your home purchase. GSEs and secondary mortgage markets.

Mortgages 82

Mortgages Loans Fixed-rate mortgage Principal 82

HomeLight

JANUARY 31, 2022

Conventional loans can be approved with as little as 3% as a down payment. USDA loans are available mostly in rural areas and enable buyers to put down zero percent of the price. VA loans enable eligible active duty military personnel and veterans to buy a home with zero percent down. What is your loan term?

Loans 93

Loans Mortgages FHA loan Principal 93

HomeLight

NOVEMBER 29, 2021

Unfortunately, a tight real estate market with little inventory can make it challenging to find a house that fits your budget. In today’s market, it’s not uncommon for sellers to get multiple offers, which can result in a bidding war,” he explains. “A Source: (Joey Pedras / Unsplash). What determines home prices? Homeowners taxes.

Land 90

Land Closing costs Purchase and sale agreement Loans 90

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. It’s often presented as a percentage of the fair market value. Assignment.

Purchase and sale agreement 97

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