The Mortgage Report

JULY 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? Check your best options to tap home equity.

Equity

The Mortgage Report

JULY 8, 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? Check your best options to tap home equity.

Equity

AAOA

APRIL 14, 2025

Conventional loans often require 20-25% down for apartment buildings. Government-backed loans might have lower requirements. FHA loans, for instance, may allow as little as 3.5-10% Each loan type has pros and cons. These loans also have more relaxed credit score requirements. Thats a big chunk of change!

FHA loan

The Mortgage Report

JUNE 10, 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 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? Authored By: Erik J.

FHA 203k rehab loan

Marco Santarelli

DECEMBER 22, 2024

Mortgage refinance rates hold significant importance for homeowners who aim to lower their monthly payments or leverage their home equity for new financial opportunities. A robust economy can lead to higher interest rates, as lenders anticipate increased demand for loans. Higher credit scores typically lead to lower interest rates.

Mortgages

The Mortgage Report

JUNE 9, 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 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? Meanwhile, FHA loans comprised 15.3%

Loans

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs.

Purchase and sale agreement

The Mortgage Report

JULY 11, 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? Making that mortgage payment versus paying rent builds equity.

FHA 203k rehab loan

Redfin

JULY 24, 2025

According to Redfin Real Estate, the minimum down payment for first-time homebuyers varies depending on the type of loan. Many loans offer down payments as low as 3% or even 0%. Here’s a quick breakdown: FHA loans, for example, typically require 3.5% VA and USDA loans may offer 0% down for eligible borrowers.

FHA loan

Redfin

JULY 23, 2025

Key takeaways for your down payment strategy 20% isn’t required: You don’t always need a 20% down payment to buy a home, thanks to various loan options. Faster equity: Putting more money down means you build equity in your home more quickly. Establishes the buyer’s immediate equity in the property.

FHA loan

Redfin

JUNE 13, 2025

Buying your second home comes with experience on your side and valuable advantages: financial history, equity from your current home, and a clearer sense of what you want. Consider financial tools like bridge loans or home equity loans for your new home’s down payment before your current one sells.

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? The good news: you can.

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? How Much Home Can I Afford? Time to make a move?

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

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

Marco Santarelli

APRIL 30, 2025

The lower interest rates mean borrowers can save significantly on interest paid over the life of the loan. Moreover, paying off the loan in half the time allows homeowners to build equity more quickly. Homeowners also need to factor in refinancing costs, like closing costs and how long they plan to stay in their homes.

VA loan

Redfin

JANUARY 28, 2025

However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home. Fewer closing costs: Assuming a loan typically involves lower closing costs compared to obtaining a new mortgage.

Loans

Redfin

MARCH 4, 2025

These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans. Can you buy a foreclosure with an FHA loan?

Pre-approval

Redfin

APRIL 11, 2025

In the past, many homeowners stayed in their starter homes for around three to seven years building equity. One of the biggest advantages of buying a starter home is that you start building equity , which is like a long-term savings plan. Property taxes and upkeep costs are also usually lower for a smaller home.

Marketing

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. This way, you’ll have a chance to build equity. What are the closing costs?

Pre-approval

Marco Santarelli

APRIL 2, 2025

The data also includes rates for VA and FHA loans, which are government-backed mortgages often favored by veterans and first-time homebuyers, respectively. Refinancing your mortgage can be a smart move if you can secure a lower interest rate, shorten your loan term, or tap into your home equity.

Mortgages

Marco Santarelli

MARCH 31, 2025

Today's Refinance Rates Refinancing your existing mortgage involves taking out a new loan to pay off the old one. People refinance for various reasons: to get a lower interest rate, to shorten their loan term, to switch from an adjustable-rate to a fixed-rate loan, or to tap into home equity (cash-out refinance).

Mortgages

Norada Real Estate

JUNE 22, 2025

Refinancing Options in Today’s Market Refinancing remains a viable option for homeowners looking to either lower their monthly payments or tap into their home equity. Fixed-rate loans provide stability in monthly payments, ideal for those looking for predictability over a long term.

Mortgages

Redfin

MARCH 4, 2025

If you priced your home too low, you may lose some of your homes equity. A higher appraisal value means theres more home equity available, which may give you more favorable loan terms or cash out. However, if youre refinancing with an FHA loan, you may be able to refinance without an appraisal.

FHA loan

Redfin

JULY 28, 2025

It offers a $2,500 borrower credit toward the down payment or closing costs of a home, and considers positive rent payments towards loan eligibility. While you will need to pay PMI, you have the ability to cancel it once you reach 20% equity. A homeowner’s education course is also required to qualify for this loan.

VA loan

Redfin

JULY 24, 2025

If you can put down 20% or more of the home’s purchase price, lenders typically won’t require PMI because you have more equity in the home from the start, which reduces their risk. A second mortgage (often a Home Equity Line of Credit or HELOC ) for a portion of the remaining amount, typically 10%.

FHA loan

Redfin

JUNE 27, 2025

Key takeaways: Your first-time home buyer benefits include down payment and closing cost assistance, grants, tax benefits, and low-interest or forgivable loans. Many programs offer low-interest or no-interest loans to cover down payments or closing costs. Grants Unlike loans, grants don’t need to be repaid.

Debt-to-income ratio

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 20, 2025

What's your current interest rate, loan term, and monthly payment? How much equity do you have in your home? Factor in all the costs involved, such as appraisal fees, closing costs, and any prepayment penalties on your existing loan. For example, are you paying on an interest rate higher than 8%?

Mortgages

HomeLight

MAY 8, 2025

According to Matt Lamontagne , as is sellers are usually people who do not have the financial means to make improvements, usually because their money is tied up in their home’s equity. These companies can help sellers cash out quickly, and many will cover a sellers closing costs.

As-is

Redfin

JULY 30, 2025

Here are some key factors that determine whether you’re ready to take on a mortgage: Credit score : Most conventional loans require a credit score of at least 620, while FHA loans may accept scores as low as 580. Down payment savings: You’ll generally need at least 3%–5% down, depending on the loan type.

FHA loan

The Mortgage Report

JULY 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? Check your refinance eligibility.

FHA 203k rehab loan

Marco Santarelli

APRIL 8, 2025

Different Loan Types: Rates vary significantly across mortgage types including FHA , VA , and ARMs. However, because of the long loan term, borrowers will generally pay more in interest over the life of the loan compared to shorter options. What Influences Mortgage Rates?

Mortgages

HomeLight

MARCH 19, 2025

Now, people have so much equity in their home, they’re willing to forego some of it in order to have that simple sale. A few years before, there wasnt nearly the same amount of equity, so people were more concerned with doing everything they could to increase the value, he says.

As-is