Marco Santarelli

OCTOBER 6, 2023

This option is particularly appealing to first-time homebuyers or individuals with limited savings, as it removes a substantial financial barrier to entry into the real estate market. The lender covers the full cost of the property, making homeownership more accessible. Key Features: 1.

VA loan 52

VA loan FHA loan Pre-qualification Debt-to-income ratio 52

HomeLight

AUGUST 16, 2021

Some savings you can use toward a down payment and closing costs? Research your market. There’s much to learn about your local real estate market before diving into making offers. How quickly do homes move off the market? Are you open to doing some sweat equity in the beginning?” Assess your readiness.

Closing costs 104

Closing costs Purchase and sale agreement Inspection Loans 104

Windemere Buying

JANUARY 3, 2022

If you’re unhappy with your pre-approval, or need more money for your desired location, there are ways you can increase your buying power. You Understand Your Local Market Conditions The dynamics of the market in which you’re buying will play a role in determining whether you’re ready to buy.

Pre-approval 52

Pre-approval Inspection Principal Closing costs 52

HomeLight

JULY 31, 2022

Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. Here are a few.

VA loan 71

VA loan Purchase and sale agreement Short sale Pre-approval 71

HomeLight

JUNE 28, 2021

With properties often available below market value and down payment options potentially as low as 3.5% , purchasing a HUD home could be your golden ticket. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). Get pre-qualified with a mortgage lender.

Pre-approval 97

Pre-approval Pre-qualification FHA loan Inspection 97

Redfin

APRIL 7, 2023

With its pristine beaches, year-round sunshine, and thriving job market, it’s no wonder that so many people dream of owning a home in America’s Finest City. Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best.

Pre-approval 58

Pre-approval Agents Pre-qualification Debt-to-income ratio 58

HomeLight

AUGUST 31, 2021

The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

Pre-approval 100

Pre-approval Short sale Banks Finance 100

HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Within three weeks of marketing on their own, 80% to 85% of FSBO people will contract with a real estate agent.

Purchase and sale agreement 101

Purchase and sale agreement Inspection MLS Inspection contingency 101

HomeLight

DECEMBER 8, 2023

This balancing act becomes even more challenging in a market where inventory is low, and prices are high. Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home 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 99

Equity Loans Debt-to-income ratio Home sale contingency 99

HomeLight

MAY 31, 2021

If you’re buying a fixer-upper and you know you’ll need money to do improvements and repairs, then making a lower down payment means you can do those repairs out-of-pocket and build equity. Keep in mind that market conditions can affect the viability of down payment assistance programs. “It Do you offer points, and should I use them?

Mortgages 60

Mortgages Debt-to-income ratio Loans Closing costs 60

HomeLight

MARCH 13, 2023

Receive your offer within a week and close in as little as 10 days. You may see some that market – or send out mailers – to certain niches. How much a cash buyer will pay depends on the company’s price model, which is typically 70%-80% of the after-repair value (ARV) of the property, less the cost of repairs.

Sales 94

Sales Purchase and sale agreement Due diligence Inspection 94

HomeLight

OCTOBER 9, 2023

Whether you’re a first- or second-time home buyer, it’s likely you’re facing a complex housing market. In many parts of the country, the housing market is running with a very low inventory, which means homes may sell for more than their appraised value. We’ve curated 20 game-changing insights to simplify your home buying journey.

Pre-qualification 96

Pre-qualification Pre-approval Agents Loans 96

HomeLight

SEPTEMBER 20, 2022

If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. It can happen when the homeowner bought the house at the top of the market and then the market takes a hit.

Short sale 87

Short sale Sales Pre-approval Equity 87

HomeLight

OCTOBER 5, 2020

Short sales are rarer in the housing market nowadays. ” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. Closing costs can add up to thousands of dollars in fees.

Short sale 80

Short sale Sales Pre-approval Pre-qualification 80

HomeLight

MAY 24, 2022

The recent real estate market has been head spinning, and perhaps the home that sold across the street for way over asking price has got you wondering — should I sell my house in 2022? Or the idea of cashing out the equity on your two-story home and downsizing to a single-level house sounds appealing. million in March, down 4.5%

Pre-approval 98

Pre-approval Equity Agents Closing costs 98

HomeLight

MARCH 30, 2021

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. If not, some language in the listing might provide clues that they are in fact short sales, such as “subject to bank approval,” “notice of default,” or “headed for auction.”.

Short sale 60

Short sale Sales Pre-approval Closing costs 60

HomeLight

MARCH 13, 2023

Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Receive your offer within a week and close in as little as 10 days. Expanding population and job market fuel rental growth Greater Orlando’s population of 2.67

Sales 83

Sales Investor Due diligence Renovation 83

HomeLight

MARCH 28, 2022

According to the National Association of Realtors®, homeowners usually stay in their homes for 13 years , which is plenty of time to build equity before selling. It’s likely cheaper than renting, even if you’re not staying long enough to build much equity. Can you afford the closing costs when it’s time to sell?

VA loan 85

VA loan Loans Debt-to-income ratio Closing costs 85

HomeLight

MARCH 21, 2022

While selling to a We Buy Houses company offers a number of conveniences, house-buying businesses typically pay less than market value for the homes they purchase, and sometimes significantly so. They are another legitimate option for selling your home in the markets where they make purchases. How do companies that buy houses work?

Closing costs 97

Closing costs Home sale contingency Investor Closing 97

Redfin

SEPTEMBER 3, 2022

Plus, you will need them to see how much house you can afford and then seek pre-approval for a mortgage. Proof of funds (POF): A POF is a lender-issued document showing how much money a person has to cover the purchase costs. Here are some of the most significant additional costs you should be aware of. .

Pre-approval 65

Pre-approval Mortgage pre-approval letter Closing costs Proof of funds 65

HomeLight

DECEMBER 10, 2021

That’s why Batterman recommends a seller pre-inspection. Once upon a time, buyers sought fixers uppers for instant equity by putting in the work themselves. In Batterman’s experience, “oftentimes [buyers] offer you less money than you’re asking for the property, or you’ll have less offers in a seller’s market.”.

As-is 93

As-is Purchase and sale agreement Investor Closing costs 93

Redfin

JULY 10, 2023

In addition to Orlando’s real estate market conditions, there are always pros and cons to renting and buying, making your decision a little more difficult. According to Redfin’s recent study, the estimated median monthly mortgage cost is $2,966 while the average rent price in Orlando is $2,566.

Pre-approval 42

Pre-approval Finance Equity As-is 42

Realty Biz

DECEMBER 13, 2022

And unless you've been through it before, or have experience buying homes — it can be easy to get caught up in the whirlwind of navigating a new market and finding the right home at the right time. Sellers who qualify for Flyhomes’ Trade Up program can trade their current home for the new one, unlocking equity from both residences.

Pre-approval 66

Pre-approval Closing costs Loans Technology 66

Redfin

FEBRUARY 10, 2023

With the unique real estate market in Seattle, both options present their own advantages and disadvantages which can make finding your perfect home a challenge. Advantages of buying a home in Seattle Strong real estate market Seattle has a strong real estate market, with a consistent increase in home prices over the recent years.

Equity 57

Equity Closing costs Mortgages Pre-approval 57

HomeLight

AUGUST 12, 2022

On the flip side, some buyers in today’s seller’s market are trying so hard to compete that they submit an as-is offer indicating their willingness to purchase the property without expecting the seller to make changes. Average days on market for Illinois. Fast facts about selling a house ‘as is’ in Illinois. Disclosures.

As-is 96

As-is Purchase and sale agreement Investor Closing costs 96

Redfin

JULY 10, 2023

With Austin’s real estate market conditions, there are pros and cons to both sides of the debate, making it that much harder to decide between renting or buying a home. According to a new Redfin study, the average rent price in Austin is $2,951, while the estimated median monthly mortgage cost is $3,801.

New Construction 52

New Construction Equity Closing costs Purchase and sale agreement 52

Realty Biz

OCTOBER 24, 2020

Especially if you haven’t owned a home before that builds equity to transfer as the down payment when you upgrade or move to another location (but that’s not a first time buyer). Besides low or no down payment requirements, be sure to ask about below-market interest rates, reduced closing costs/fees, and no mortgage insurance requirements.

Pre-approval 106

Pre-approval Principal Loans Closing costs 106

HomeLight

JUNE 30, 2021

“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). Instead, you can buy a home and use cash reserves to start building equity sooner.

VA loan 68

VA loan FHA loan Mortgages Closing costs 68

HomeLight

MARCH 6, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. down payment and/or closing cost assistance. Loans are between 3%-3.5%

Closing 91

Closing Earnest money deposit Sales Title 91

HomeLight

MARCH 13, 2023

The Austin area is fortunate to have a growing, active housing market. In this post, we’ll look at the local cash-for-homes market, how much cash buyers pay, the benefits and process you can expect, and how to find a trusted cash buyer in Austin. Receive your offer within a week and close in as little as 10 days. city in 2022.

Sales 72

Sales Investor House Flipping Pre-approval 72

HomeLight

SEPTEMBER 13, 2022

Selling a house to a family member is typically a much quicker and simpler process than selling on the open market. This means the buyer and seller have a pre-existing relationship of some kind (i.e. There are several ways to receive an estimate of your home’s current market value. Closing timeline. Down payment amount.

Purchase and sale agreement 97

Purchase and sale agreement Title Title search Finance 97

HomeLight

MARCH 28, 2022

If you purchased the home recently, such as a year or two ago, it’s possible you haven’t built up much equity yet. Home equity is a homeowner’s financial stake in their property that they own free of their mortgage loan obligation.). How’s the real estate market? It’s an extremely competitive market for buyers.”.

Purchase and sale agreement 114

Purchase and sale agreement Equity Agents Staging 114

HomeLight

SEPTEMBER 30, 2021

The most important factors in calculating this are your total monthly income, your monthly minimum debt payments, cash you have on hand that will help cover a down payment and closing costs, and your credit profile. Mortgage insurance costs are typically anywhere from 0.5% We’ll start with your credit profile.

Loans 86

Loans Pre-approval Mortgages VA loan 86

HomeLight

JANUARY 28, 2022

Whether you’re doing some back-of-the-napkin math on how much equity you have or are curious to see how the housing market is performing in your area, it’s possible to get a lot of helpful information about your home’s value online. Other FSBO sellers may see a high-demand market and expect an easy sale.

Investor 83

Investor Agents Sales Pre-approval 83

HomeLight

SEPTEMBER 16, 2021

So while you can expect to receive somewhat of a discount on price — how much so will depend on market competition and the state of your home — you should get a ballpark idea of your home’s current fair market value so you can recognize if you’re getting lowballed. Close for cash in as few as 10 days. Legitimacy of the offer.

Title 101

Title Inspection Proof of funds Investor 101

HomeLight

OCTOBER 11, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot Iowa real estate market and a steep rise in equity added extra incentive to maximize profits.

MLS 100

MLS Purchase and sale agreement Pre-approval Agents 100

HomeLight

MARCH 16, 2023

We’ve gathered insights from real estate experts to create this guide for navigating Houston’s cash home buyer market so you can sell your property in as fast a time frame as you require. Receive your offer within a week and close in as little as 10 days. For local investors in the Houston area, the cash-for-homes market is heating up.

Sales 68

Sales Purchase and sale agreement Earnest money deposit Investor 68