The Mortgage Report

JULY 4, 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? Home equity loans offer fixed rates and lump sums, good for planned expenses.

Equity

Redfin

APRIL 4, 2025

Whether you’re selling a home in Denver, CO or a condo in Phoenix, AZ , a pre-listing appraisal can provide an accurate estimate of your homes value before it hits the market. What is a pre-listing appraisal? A pre-listing appraisal is a professional estimate of your homes value, completed before you put it on the market.

Pre-approval

Marco Santarelli

MAY 27, 2025

Finding the best rate can save you thousands over the life of your loan, so let's dive into what's driving these differences across states and how you can snag the best deal. Average Loan Size: The size of the average mortgage in a state can also play a role. But in September, the central bank announced a first rate cut of 0.50

Mortgages

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. If the auction accepts financing, make sure you have a pre-approval ready.

Pre-approval

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? Down payment assistance can be a great option.

FHA 203k rehab loan

Marco Santarelli

APRIL 29, 2025

And the mortgage rate you get can literally save you (or cost you) tens of thousands of dollars over the life of the loan. Average Loan Size: The size of the average mortgage can also affect rates. They could be based on a perfect borrower profile (ultra-high credit score, very small loan). 30 years, 15 years).

Mortgages

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 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

Redfin

JULY 9, 2025

Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. Get pre-approved for a mortgage Estimated time: 1-2 weeks A mortgage pre-approva l is a lender’s assessment of how much they’re willing to lend you based on your income, assets, debts, and credit history.

Pre-approval

Redfin

JUNE 13, 2025

Step 3: Research second-time homebuyer programs and loans Step 4: Work with an experienced agent Step 5: Make a strong offer as a second-time homebuyer Step 6: Plan your transition Second-time homebuyer FAQs Is it harder to buy a house the second time? If your finances have improved, you might even qualify for a larger loan or better terms.

Debt-to-income ratio

Redfin

JULY 30, 2025

Most homebuyers will need to think ahead about the following costs when estimating how much money is needed to purchase a home: Down payment: The down payment is a percentage of the home’s purchase price, anywhere from 0% to 20% depending on your loan. Several loan options, such as FHA or VA loans, only require a down payment of 3.5%

Pre-approval

Marco Santarelli

APRIL 23, 2025

The Federal Reserve (The Fed): This is the central bank of the United States, and it plays a major role. The Fed sets the federal funds rate, which is the rate banks charge each other for overnight lending. Look into loans like the FHA 203(k) mortgage, which allows you to finance the purchase and renovation costs into one loan.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

It’s unfortunate, but not every prospective buyer is going to be able to qualify for a home loan. 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?”

Finance

The Close

JULY 28, 2025

Portfolio lenders can be an excellent financing option if you’re looking for a source of funding that you can’t get anywhere else, whether it’s because you can’t get approved, or you’re just flat out looking for uncommon terms. You see, portfolio lenders retain loans in-house so they don’t have to worry about third-party requirements.

Pre-qualification

Rochester Real Estate

NOVEMBER 5, 2015

A good score will show that you’re a responsible borrower and have been able to keep up payments on past loans. A bad score could lower your chances of being approved for a mortgage or result in a higher interest rate on your approved loan. Your bank statements from the past two years.

Pre-approval

The Close

NOVEMBER 12, 2024

Step 5: Get a Pre-approval & Arrange Financing Many folks are curious about how to buy land without dropping a ton of cash. Banks also view raw land as riskier, making financing more difficult. Conventional loans: Most conventional lenders offer long-term mortgages for land purchases. Is it smart to buy land?

Land

Redfin

JULY 2, 2025

This Redfin article explains how job changes impact the mortgage process and what lenders look for—whether you’re applying for a home loan in Raleigh, NC or preparing to close on a house in Denver, CO. Some may approve with conditions or ask for additional income documentation. Maintain or improve your credit score.

Pre-approval

Redfin

MARCH 5, 2025

Below are some of the best ways to find an affordable home without breaking the bank. Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster.

Debt-to-income ratio

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? But what is a wholesale mortgage lender, and how do these loans work?

FHA 203k rehab loan

Redfin

JULY 31, 2025

Lean on trusted experts: A great real estate agent, lender, and the right loan choice are key. A strong credit profile signals to lenders that you’re a reliable borrower, leading to lower interest rates and saving you thousands over the life of the loan. The problem is, the repercussions can last for years.

VA loan

Marco Santarelli

FEBRUARY 7, 2025

Let's delve into the critical factors that set the 2025 housing market apart from the pre-crash era. “Subprime” mortgages were rampant, meaning loans were given to people with poor credit or insufficient income. Banks are much more cautious about who they lend to, requiring higher credit scores and larger down payments.

Pre-approval

Marco Santarelli

JULY 11, 2025

State-level regulations, credit scores, and average loan sizes also play roles. Average Loan Size: Loan size correlates with rates. This is because operational costs are the same, regardless of the size of the loan. Each point equals 1% of the loan amount. This borrower is least likely to default on the loan.

Mortgages

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? Adding someone to the home’s title is possible without changing the loan.

FHA 203k rehab loan

Housing Wire

APRIL 21, 2025

” Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks were largely profitable in 2024 , according to Mortgage Bankers Association data, but that came on the heels of two straight years with net losses for the IMB segment. hours per loan application. ”

Pre-approval

Marco Santarelli

JUNE 28, 2025

If you're considering taking out a mortgage or refinancing your current home loan, knowing these updated rates will help you make informed financial decisions. It's essential to factor in that for larger loan amounts, many lenders may require a larger down payment or stricter qualification criteria.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

The first step to buying a house in New York is to assess your financial readiness and get pre-approved for a mortgage. Pro Tip: Setting aside enough for a solid down payment can result in better loan terms and reduced monthly payments. These include fees for obtaining the loan and transferring ownership.

Purchase and sale agreement

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? HELOC on a Paid-Off House: Can I Get One?

FHA 203k rehab loan

Norada Real Estate

JUNE 20, 2025

Their decisions on interest rates directly influence the rates banks charge for borrowing money, which then trickles down to mortgage rates. Conversely, at a lower rate of 5.00% , that same loan's monthly payment would be around $1,879 , leading to a significant difference of $451 each month. Shop Around!

Mortgages

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? Others choose a shorter term, such as a 15-year loan. Data from the U.S.

FHA 203k rehab loan

Rochester Real Estate

NOVEMBER 5, 2015

Before taking the time to grant a mortgage pre-approval , lenders evaluate this information. When you secure a mortgage loan to purchase a property, your monthly payment involves more than just the principal and interest. It constitutes the initial loan balance you gradually pay off over the loan term.

Debt-to-income ratio

Redfin

JULY 30, 2025

Additional qualifications Loans and programs Benefits of being a first-time homebuyer What are the next steps? down; 500 with 10% down Primary residence, mortgage insurance required VA loans Eligible U.S. down; 500 with 10% down Primary residence, mortgage insurance required VA loans Eligible U.S. Let’s get started.

Debt-to-income ratio

AAOA

MAY 22, 2025

But heres the truth, you absolutely can buy an apartment , and you dont need millions in the bank to make it happen. Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Understand what size loan you can qualify for. Talk to lenders.

Due diligence

Marco Santarelli

JULY 8, 2025

This rate influences what banks charge each other for short-term loans, and that ripples out to affect other interest rates, including mortgage rates. What This Means for You For Buyers: If you're thinking of buying a home, it's wise to get pre-approved for a mortgage so you know exactly how much you can afford.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

No document loans or stated income loans were created in the 90’s but really became mainstream after the year 2000. If you had a social security number and an average credit score, you were able to get these loans without documenting your income or your assets. This eliminated stated income loans completely.

Mortgages

Marco Santarelli

MARCH 20, 2025

Be prepared for higher monthly payments compared to a 30-year loan. VA Loans – A Benefit for Veterans: Backed by the Department of Veterans Affairs, VA loans offer significant advantages to eligible veterans, active-duty service members, and surviving spouses. Refinance Rates: What's on Offer Today?

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Many of these first time home buyer programs and grants can help cover a large amount of the “closings costs” and/or allow them to finance a higher percentage of the loan (or all of the loan in some cases). Eligible repairs and improvements may be included in the loan. How does the home buyer dream program work?

Closing costs

Marco Santarelli

MARCH 22, 2025

This downturn is different for a few crucial reasons: Tighter Lending Standards: Banks have been much more careful about lending since the last crisis. Gone are the days of “no-doc” loans and reckless lending practices. I dont think we're looking at a crash of 2008 proportions. What's a Buyer to Do?

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