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

Redfin

JULY 31, 2025

Don’t select the first lender you find Don’t just go with the first mortgage offer you receive. If you shop around first, you could end up with a lower interest rate and better terms. What to do instead: To start, request quotes from multiple lenders, including banks, credit unions, and mortgage brokers.

VA loan

Marco Santarelli

MARCH 27, 2025

Refinance Rates: Generally similar to purchase rates, with the 30-year fixed refinance at 6.61% and the 15-year fixed refinance at 6.00%. VA Loans: Continue to offer potentially lower rates for eligible military-affiliated borrowers. The 30-year VA loan rate is at 6.14%.

Mortgages

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

Marco Santarelli

JUNE 26, 2025

Don’t just settle for the first rate you see. Compare rates from different banks, credit unions, and online lenders. Boost Your Credit Score: A higher credit score translates to lower risk in the eyes of lenders, and a lower risk translates to better rates. Get quotes from multiple lenders.

Mortgages

Marco Santarelli

JANUARY 5, 2025

Understanding Different Types of Mortgages When considering a mortgage, its essential to understand the various types available, as each suits different financial situations and preferences. 30-Year Fixed Mortgage This is the most popular type of mortgage, with payments spread over 30 years at a fixed interest rate.

Mortgages

Redfin

AUGUST 5, 2025

If your piggy bank is full and it’s time for a move, you could have an opportunity to buy a house with cash. How to buy a house with cash Buying a house with cash is easier than going through the mortgage process, but it doesn’t mean you just hand over the funds and get the key. However, there are drawbacks as well.

Earnest money deposit

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

Marco Santarelli

JULY 3, 2025

Rate Volatility: Some rates went up, while others went down. This highlights the dynamic nature of the mortgage market and the importance of staying informed. Jumbo Loans: While this article primarily focuses on conforming loans, it's worth noting the Jumbo Loan rates.

Fixed-rate mortgage

Marco Santarelli

MARCH 17, 2025

Loan Type: 30-Year Fixed, 15-Year Fixed, and Beyond. The most common type of mortgage is the 30-year fixed-rate mortgage. Then there's the 15-year fixed-rate mortgage. Adjustable-Rate Mortgages (ARMs): The Initial Rate Gamble. This is HUGE.

Mortgages

The Mortgage Report

JUNE 12, 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 your lowest mortgage rate.

FHA 203k rehab loan

The Mortgage Report

JULY 22, 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 your lowest mortgage rate. in April.

FHA 203k rehab loan

The Mortgage Report

JUNE 18, 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

JULY 30, 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

Housing Wire

SEPTEMBER 25, 2024

Department of Veterans Affairs (VA) loans grew significantly, rising by 250 bps to a share of 18.3%. Adjustable-rate mortgages (ARMs) accounted for 5.9% The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less dropped by 2 bps to 6.13%.

FHA loan

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

VA loan

Housing Wire

MAY 5, 2022

The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Mortgage rates are following the Federal Reserve’ s inflation-fighting monetary policy. The 30-year fixed-rate jumbo rose to 5.042% on Wednesday from 4.841% in the previous week.

Mortgages

Housing Wire

MAY 3, 2023

The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis. “The

Mortgages

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8%

Mortgages

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. They do this to reduce their risk and to free up their capital to process more loans. Fixed-rate mortgages provide stability and predictability.

Closing

Point2Homes

AUGUST 26, 2021

Conventional loans are provided through private lenders, banks or credit unions. In general, buyers are required to have a minimum credit score of 620 to qualify for a conventional loan, with a debt-to-income (DTI) ratio of 43% or less. Conventional loans come in different shapes and sizes, each with its own benefits.

Loans

Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. Buy mortgage points to lower your rate.

Fixed-rate mortgage

HomeLight

OCTOBER 15, 2020

These loans come with required mortgage insurance, and they typically have higher rates and fees. VA loans : These loans are for qualifying military service members and their families, and they’re backed by the Veterans Administration. VA loans require a minimum credit score of 620 and a maximum DTI of 41%.

Loans

Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. Buy mortgage points to lower your rate.

Fixed-rate mortgage

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

Realty Biz

FEBRUARY 7, 2023

Some people will search for mortgage lenders near me if they want their bank to be nearby. Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. For example, do you want a 30-year fixed or adjustable-rate mortgage?

Pre-approval

Norada Real Estate

JUNE 22, 2022

You don't need to pay a bank attorney for the mortgage. Financing turnkey rental properties with cash means you don't need to put real estate taxes in escrow upfront nor pay for a mortgage application and loan origination fees. Types of Mortgage Options For Financing Turnkey Rental Properties.

Finance

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.

Loans

Marco Santarelli

JANUARY 14, 2025

For adjustable-rate mortgages (ARMs), the rates fluctuate but remain comparable or higher than fixed rates, which can impact your mortgage decisions. Fixed-Rate Mortgages offer stability. Its advisable to compare several lenders, including local banks, credit unions, and online lenders.

Mortgages

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. 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

Marco Santarelli

JULY 2, 2024

The start of the season has brought with it a slight decline in mortgage rates , offering a glimmer of hope amidst a period of elevated rates. This reduction follows a surge that saw rates climb from 6.64% in January to over 7.2% Conversely, when the Fed lowers the federal funds rate, it can lead to lower mortgage rates.

Mortgages

HomeLight

AUGUST 28, 2020

They set a baseline rate that most other rates are geared toward.” This rate is the overnight exchange rate, or the rate at which banks loan money to each other. The term “baseline rate” means the Fed rate is kind of like a jumping-off point. How long is your loan term?

Mortgages

HomeLight

NOVEMBER 29, 2021

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. Veterans Administration loans. Many VA loans offer a 30-year fixed-rate mortgage loan, competitive interest rates, and generally require no down payment.

Land

Redfin

JULY 31, 2024

Key takeaways Shop around for the best mortgage lender : Compare offers from multiple lenders, including banks, credit unions, and online lenders, to find the best rates and terms for your mortgage. Compare terms and interest rates to find the best fit for you. Did you know?

Pre-approval

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. FHA loans: as low as 3.5%. USDA loans (for rural property owners): no down payment required.

Closing costs

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. What documents are typically required for a mortgage application?

Pre-approval

Marco Santarelli

MAY 29, 2025

The rate you actually qualify for will depend on your unique financial situation. National Mortgage Rate Trends Let's take a step back and look at the bigger picture. Here's what's happening with national average mortgage rates: 30-Year Fixed-Rate Mortgages: The current national average is 7.08% (Zillow).

Mortgages