HomeLight

APRIL 18, 2025

You might be curious if theres a way to access your homes equity for a down payment before it sells or if your only option is to move out and crash somewhere temporary while you house hunt. Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home.

Equity

HomeLight

JULY 28, 2025

You need the equity from your existing home to fund your next purchase — but getting the timing right isn’t always easy. Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. A bridge loan could be the solution to help everything fall into place.

Equity

The Mortgage Report

JULY 7, 2025

Avoid using home equity loans for depreciating expenses or without a clear repayment plan and return on investment. Being financially ready with a good credit score, stable income, and some equity left untouched helps you get better loan terms. Check your best options to tap home equity. Check your home equity loan options.

Equity

HomeLight

JULY 24, 2025

You need the equity from your existing property to fund the next purchase, but pulling that off without disruption to your daily life isn’t easy. Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You want to avoid a double move or temporary housing.

Equity

HomeLight

APRIL 10, 2025

This short-term financing option could be the piece you need to make your move smoother and less stressful. Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. But theres another way. Yes, You Can Buy Before You Sell. Why Move Twice?

Equity

HomeLight

JULY 24, 2025

This short-term financing option gives you flexibility and control over your timeline. Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can’t afford the costs of moving twice between selling and buying. Yes, You Can Buy Before You Sell.

Equity

The Mortgage Report

JULY 8, 2025

What Are the Different Types of Home Equity Loans and Which Is Best? By Valencia Higuera Reviewed By Aleksandra Kadzielawski July 8, 2025 - 5 min read Key Takeaways There are several ways to tap your home’s equity: fixed-rate loans, variable HELOCs, HELOCs with conversion, cash-out refinancing, and home equity agreements.

Equity

The Close

NOVEMBER 25, 2024

You’ll need to take many different costs into account and be prepared for unexpected expenses. 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.

Purchase and sale agreement

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. Understanding these rates and how they can impact your financial decisions is crucial as you navigate your home financing options.

Mortgages

AAOA

APRIL 14, 2025

Down payments for apartment buildings usually range between 20% and 30%, but the exact amount depends on factors like your credit score, property type, and financing options. Understanding how these elements influence your upfront costs is crucial for smart investment planning. They impact your loan terms and monthly payments.

FHA loan

Marco Santarelli

DECEMBER 29, 2024

Refinancing can be an effective way to lower your interest rate, reduce your monthly payments, or take cash out of your existing home equity. Calculate Potential Savings: Use a refinancing calculator to estimate savings and understand how long it would take to recoup any costs associated with refinancing (closing costs, etc.).

Mortgages

Redfin

MARCH 4, 2025

One of the benefits of homeownership is building equity – the amount of the home you actually own. Home equity can be used to help you buy a new home, make improvements to your house to increase its value, or pay off debts. So, how do you calculate how much home equity you have? How is home equity calculated?

Equity

Marco Santarelli

APRIL 19, 2025

Maybe you're dreaming of lower monthly payments, paying off your home faster, or even tapping into your home equity for some much-needed renovations. The APR (Annual Percentage Rate) is a broader measure that includes the interest rate plus other fees associated with the loan, such as origination fees, points, and other closing costs.

Mortgages

Redfin

JANUARY 10, 2025

Regardless of whether your motivation is financial or circumstantial, its important to consider how your tenure in a home will impact your personal finances. Arguably, the most important variables to consider before you make the decision to sell are home equity, transaction costs, and local market conditions.

Seller concession

The Close

NOVEMBER 25, 2024

Step 6: Obtain Financing To make an offer on the property of your choice, you’ll need to obtain financing and a preapproval letter. This letter shows you your maximum borrowing amount and reassures the seller that you are serious about buying the property and are approved to secure financing.

Hard money loan

Redfin

JUNE 13, 2025

In this Redfin article, we’ll walk you through what’s different as a second-time homebuyer, how to prep your finances, and what strategies ease the transition—whether you’re upgrading in Flagstaff, AZ , downsizing, or just making a change in Fort Worth, TX. Communicate closely with your real estate agent to align timelines and contingencies.

Debt-to-income ratio

Marco Santarelli

DECEMBER 21, 2024

Tapping into home equity: You can refinance to pull cash out of your home. Are you trying to lower your monthly payments, pay off your mortgage quicker, or access your home equity? Can you afford the closing costs? Refinancing comes with closing costs. What is your current mortgage rate?

Debt-to-income ratio

The Mortgage Report

JULY 24, 2025

Personal finance expert Aimee Frey , on the other hand, interprets these findings a bit more critically. These help home buyers better afford the down payment costs and/or closing expenses. This tells you how expensive housing has become compared to income. Authored By: Erik J. Martin The Mortgage Reports contributor Erik J.

FHA 203k rehab loan

AAOA

MAY 22, 2025

You need to lookthe potential to optimize operations, increase cash flow, and build equity through forced appreciation. Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Down Payment Requirements When financing a deal, most commercial lenders require between 20% and 30% down.

Due diligence

The Mortgage Report

JULY 11, 2025

Blais : The vital thing to remember is that buying a house is an act of making your household more stable, as it provides a long-term investment opportunity, especially compared to no-return rental costs. Making that mortgage payment versus paying rent builds equity. Verify your home buying eligibility.

FHA 203k rehab loan

HomeLight

MARCH 24, 2025

Who pays closing costs in a short sale? You must be underwater on your mortgage in order to qualify for a short sale, which means that you have negative equity. Short sale vs. foreclosure: What’s the difference? What documents do I need to apply for a short sale? How does a short sale affect my credit score?

Short sale

Redfin

JULY 23, 2025

Faster equity: Putting more money down means you build equity in your home more quickly. No PMI: A 20% down payment helps you avoid Private Mortgage Insurance, an added monthly cost. The amount you’ll be required to put down may vary depending on the loan program you use to finance the home purchase.

FHA loan

Seattle Times Real Estate

JUNE 25, 2025

Washington lawmakers created the Covenant Homeownership Program in 2023, offering zero-interest loans to cover down payments and closing costs for certain first-time homebuyers of color who meet income and other requirements. A spokesperson for the Housing Finance Commission welcomed the court’s decision.

Technology

The Living Room

MAY 2, 2025

Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. This step not only clarifies your budget but also positions you as a serious buyer in the eyes of sellers. Financial Preparation for Home Buying: Budgeting for a home extends beyond the down payment.

Earnest money deposit

The Mortgage Report

JULY 1, 2025

With that price icing out many buyer candidates, sellers are more eager to negotiate lately, agreeing to lower down payments in order to close deals in a cooling market where there are now 34% more sellers than buyers. Buyers across the country are bringing smaller checks to the closing table,” he says.

Loans

Redfin

JULY 24, 2025

” Simply put, a down payment is the initial sum of money you pay upfront when buying a home, with the remaining amount financed through a mortgage. According to the National Association of Realtors , 52% of first-time buyers used a conventional loan to finance their home, while 29% used an FHA loan, and 9% used a VA loan.

FHA loan

The Mortgage Report

JUNE 9, 2025

Based in Denver, he has over 25 years of experience in the real estate and finance industries. When a seller sees that you’ve already done the financial legwork and your lender has verified your income, credit, and assets, it builds confidence in your ability to close. But beyond finances, I think mindset matters.

FHA 203k rehab 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

JULY 24, 2025

The National Association of REALTORS® shares, “Despite the current attention around buyers paying all-cash for homes, the majority of home buyers finance their home purchase. Among primary residence buyers, 74% percent financed their home purchase, a share that rises to 91% among first-time buyers.

Principal

Redfin

JUNE 9, 2025

Since your lender bases the loan amount on the appraised value, they’ll only finance 80% of $380,000—not the $400,000 you agreed to pay. Appraisal gaps can create financial strain for buyers, especially if they haven’t budgeted for this unexpected cost. Lenders won’t finance more than a home is worth.

Purchase and sale agreement

Norada Real Estate

JUNE 7, 2025

What Will the Closing Costs Be, and What's My Break-Even Point? You'll encounter closing costs, which can typically range from 2% to 6% of your total loan amount, according to The Mortgage Reports. This is the amount of time it will take for your monthly savings to offset the upfront closing costs.

Mortgages

The Close

MARCH 11, 2025

This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. Various financing options exist for FSBO properties, like traditional mortgages, hard money loans, and private investors. For options, check our recommended hard money lenders.

Sales

Redfin

FEBRUARY 24, 2025

Unexpected expenses: Unforeseen challenges, such as discovering hidden underground utilities, can lead to additional costs. Financing and closing costs: If you’re financing the land purchase or construction, anticipate paying 2% to 5% of the loan amount in closing costs. is $419,200.

Debt-to-income ratio

Redfin

JANUARY 28, 2025

However, theres a catch: the buyer must still qualify for the loan under the FHA’s guidelines, and any difference between the loan balance and the homes purchase price (the seller’s equity) must be covered, either through cash or secondary financing. What are the requirements to assume an FHA loan?

FHA loan

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

FEBRUARY 12, 2025

Home equity agreements (HEAs) are becoming an increasingly popular way for homeowners to tap into the value of their homes without taking on additional debt. In this Redfin guide, well break down everything you need to know about home equity agreements. What is a home equity agreement (HEA)? How do home equity agreements work?

Equity

Redfin

JUNE 17, 2025

It can help you save on agent fees, offer the possibility of a gift of equity, and reduce or eliminate your down payment. Gift of equity : A home must be sold at fair market value , but your family member can offer a gift of equity to make it affordable. On a $400,000 sale, that could mean saving about $20,000 in closing costs.

Purchase and sale agreement