How to Keep Closing Costs Down When Refinancing Your Mortgage

RIS Media

A refinance typically comes with closing costs, a series of fees that can cost thousands of dollars up front. You might be able to keep your closing costs down or avoid them altogether, but you need to be careful to avoid paying more later.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. Closing costs. Typical closing costs.

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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. Can you afford the closing costs? But beware: If you want to buy, there are more upfront costs involved.

What Are the Costs Associated With Buying a Home?

RIS Media

” You may be able to, but the costs associated with buying a home go beyond the mortgage payment. To determine how much house you can afford, it’s important to factor in additional expenses, such as closing costs, insurance and taxes, before committing to a mortgage.

Should You Refinance Your Mortgage to Build Equity Faster?

RIS Media

Home equity is the difference between your house’s current market value and the amount you still owe on your mortgage. Speeding up the rate at which you pay down your loan balance can help you build equity faster. . How Can Refinancing Help You Build Home Equity?

Mortgage Rates Are Rising. Read This Before You Refinance.

Realtor.com

Lenders consider credit history, income and home equity when evaluating applications. Consider how many months it would take for you to recoup the costs of closing on a refi, along with how long you’ll be staying at this home. What if closing costs are too high?

Houston Real Estate Market 2020 Overview

Norada Real Estate

We will discuss the latest Houston real estate market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. This housing market has been impacted by the pandemic and slumping oil prices which led to a decline in home sales down.

Dallas Real Estate Market 2020 Overview

Norada Real Estate

The Dallas housing market has recovered from the impact of the Coronavirus pandemic. There's about a 2.7-months supply of homes for sale in Dallas County, which is well below what’s considered to be a balanced real estate market. Dallas Housing Market Prices And Trends 2020.

Op-Ed: Misguided DOJ Efforts Could Derail What a Pro-Consumer Real Estate Market Bolsters

RIS Media

Like most transactions in the American economy, market forces set individual commission rates to provide for competition among brokers, increase efficiency for consumers and ensure we are providing the most market-driven and best possible service to our clients.

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7 Real Estate Economic Experts Share 2021 Housing Market Predictions

HomeLight

Nobody could expect the coronavirus pandemic moving into 2020, and making predictions about what the housing market will bring in 2021 feels equally nebulous. Making 2021 housing market predictions isn’t easy in this environment, but we’ll do our best anyway.

U.S. Housing Market Will Withstand a Wave of Foreclosures When Forbearance Ends

Redfin

American homeowners have gained $2 trillion dollars in home equity since the beginning of the pandemic alone, thanks to double-digit price growth driven by soaring homebuyer demand as the supply of homes for sale fell to historic lows.

Why Today’s Options Will Save Homeowners from Foreclosure

Keeping Current Matters

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater ). Today, the vast majority of homeowners have significant equity in their homes.

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The Difference a Year Makes for Homeownership

Keeping Current Matters

Move-up or Downsize: One option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year.

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Fannie Mae chair warns against cash-out refinancing

Realty Biz

But Sheila Bair (pictured), chair of the board of directors at Fannie Mae this week warned that refinancing is not always the smart option, and that homeowners need to be careful about taking out too much of the equity they have built up in their homes.

Borrowers exiting forbearance may choose to sell their homes – What role do servicers play?

Housing Wire

Using Xome’s Xpert Seller Program, servicers can help borrowers determine the best marketing strategy list and sell their homes. This new program is designed to connect borrowers with local real estate professionals and guide them through the process of marketing and selling their home.

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3 underrated mortgage products to consider

Housing Wire

In fact, they could actually cost you more (often significantly more) if used incorrectly. Will we have a buyer’s housing market in 2021? When you put it all together, it means lower costs and a significantly easier path toward homeownership.

How hybrid title and valuations help increase lending efficiency

Housing Wire

HousingWire spoke with Steve Greenfield, Altisource General Manager of Mortgage Real Estate Solutions, about the state of the mortgage market and how Altisource’s HomeVal solution is benefiting lenders. Using more than one vendor can increase the overall cost of the process as well.

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Does it Make Sense to Refinance My Mortgage?

Realty Biz

If you refinance your mortgage, you can reduce your monthly outgoings, change the loan terms, or use the equity you have to provide money when you need it. Many folks will go with a no closing cost refinance , so they don’t have to take any cash out of their pocket.

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Should You Refinance if Your House has Declined in Value?

RIS Media

Once you have determined your house’s market value, you will be able to compare it to the amount you owe on the mortgage and explore your options. If your house is worth less than the loan balance, you have negative equity.

What is an iBuyer? What to Know Before You Sell Your Home to One

Redfin

iBuyers offer quick and flexible closing dates since they purchase your home with an all-cash offer. Note that iBuyers may not be available in every market. It’s best to research your local housing market before deciding to sell your home to an iBuyer.

Reducing the racial wealth gap by expanding down payment assistance

Housing Wire

The incoming Biden administration has made improving racial equity a pillar of its domestic policy agenda, and appropriately so. With home equity accounting for a quarter of total U.S.

Thinking About a Rent-to-Own House? Here’s What You Need to Know

HomeLight

If the owner is looking to put the property on the market at some point and has a tenant in place who wants to buy, they might consider a rent-to-own.”. Additionally, a certain amount of the monthly rent is also typically stipulated to help cover the buyer’s closing costs or down payment.

How To Invest In Real Estate With Little Or No Money?

Norada Real Estate

Investing in real estate refers to any property owned solely for the purpose of generating profit, either through rental income or through market value appreciation. There are a variety of new financing options that have opened up the market for new real estate businesses to profit.

What to know when buying a property in Florida

Realty Biz

Market conditions fluctuate regularly, but the housing market has been on the rise for the last couple of years. Be sure to factor in additional insurance costs when working out how much you can afford each month for your mortgage.

Home on a Hill

The Living Room

They wisely strategized and set their sights on purchasing a fixer and putting that sweat equity to work. We identified homes that had been on the market for a while and visited several before they felt the good vibes flowing at The Hill House. Holy guacamole!

How Long Does an Appraisal Take and What to Expect?

Redfin

By providing an estimate of the fair market value of your home, the appraisal assures the lender they are not lending more money for a piece of property than it’s actually worth. When the appraisal comes in, the fair market value assessed by the appraiser could go one of three ways. .

Here’s How You Can Become a Homeowner With A Zero-Down-Payment Mortgage

HomeLight

You can walk in without [taking] any money out of your pocket,” says Richard Helali, mortgage sales leader at HomeLight Home Loans (though note that you may be responsible for some closing costs, depending on your situation). Sellers can pay closing costs.

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Is Renting Worth It? Debunking Some Common Myths

HomeLight

You may not be required to pay 10% to 20% down on a new house (low down payment options are widely available, and some loans even offer zero down payment), but it’s still not a bad idea if you want to lower the overall cost of your loan. Do you have money for closing costs?

Upped Your Income? Decide Whether to Pay Off Your Home or Invest

HomeLight

Historically, the stock market averages 10% returns annually (closer to 6% or 7% of “real returns” when accounting for inflation). Register these concepts when strategizing: The stock market can be lucrative but it’s also unstable. Market conditions sway dramatically and unpredictably.

Ask Brian: What are Some Dilemmas to Consider Before Selling a House Today?

Realty Biz

But I do want to move up to a nicer home and I have built up lots of equity over nine years. Making the decision doesn’t only require having enough equity to make a large down payment on your next house but that is important. It’s a busy market.

Should You Consider Refinancing Your Mortgage? Here’s How to Think About It

HomeLight

However, in the years since you’ve had your home, you’ve likely built up equity in the home, meaning that you would take out less money to refinance your house than you did to buy it. Pay fees and closing costs. Have the loan underwritten and go through closing again.

Why Making a High Offer to Beat Out the Competition Can Backfire

RIS Media

That may be a struggle if you’re already strapped by a down payment, closing costs and moving expenses. Higher Overall Cost. Lack of Equity. It may even lose value in the future due to neighborhood changes and the overall real estate market.

13 Short Sale Tips So You Get a Dream Deal, Not a Nightmare Scenario

HomeLight

Correspondingly, short sales will also likely cost a bit more than the other options. Do note that in a strong housing market, short sales will be much rarer and harder to find, because it’s far less likely for a homeowner to end up underwater. Be ready to pay more in closing costs.

7 Questions to Ask Yourself Before Refinancing Your Mortgage

Point2Homes

Or perhaps you need to cash in on your home equity to cover your financial needs. Can you afford the costs? Most lenders will require an appraisal before you refinance your mortgage, and that’s just the first cost to consider. Image: Rawpixel.com / Shutterstock.com.

Refinance With Cash-Out – Is the Time Right?

Realty Biz

Home equity appreciation is soaring thanks to the strong seller’s market. Anyone that has not refinanced their mortgage during the last several years is likely to have much more equity built up that can be converted into cash at a very low interest rate.