Housing Wire

JUNE 24, 2025

Rocket Mortgage , the home lending arm of Rocket Companies , announced Tuesday it will now offer bridge loans , a short-term financing option that helps homeowners tap into their equity while selling their current property. Rocket expects such situations to be rare, as the program is not designed for long-term financing. “We

Loans

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. Your lender can explain their specific policies, the rules around this practice, and which costs are eligible to be rolled into the mortgage.

Closing costs

Housing Wire

NOVEMBER 6, 2024

Wehmann added that, after the change, “FICO’s share will remain only approximately two-tenths of one percent” of the total average closing costs of $6,000. ” “At $4.95 “Importantly, after our upcoming royalty change, all amounts above $4.95

Closing costs

Housing Wire

OCTOBER 31, 2024

UBS analysts also said that pricing has been contributing to an important part of FICO’s growth, a trend that should “continue given its moated business model of low churn and scale coupled with its low percent of total mortgage cost.”

Industrial

Redfin

JUNE 5, 2025

Many cash buyers assume that by sidestepping a home loan, they also bypass the complex array of fees associated with closing. However, this is a common misconception.The truth is, even when you pay cash for a house, closing costs are a fundamental part of the transaction. How much are closing costs on a cash offer?

Closing costs

Housing Wire

JULY 11, 2025

Make a list of all the people you know, also known as your sphere of influence, and let them know you’re in the mortgage industry and ready to help anyone looking to secure financing. For example, a breakdown of loan options and how they work, or a closing costs worksheet for buyers.

Mortgages

BAM Media

DECEMBER 19, 2024

Sellers remain confident in their ability to move properties quickly, with 72% expecting to close within 4 months or less. Forty-two percent of them say mortgage rates could delay their plans, while 41% worried they might not qualify for a mortgage, regardless of the rates.

Marketing

Marco Santarelli

DECEMBER 29, 2024

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.). Being thorough in your calculations can save you money in the long run. Mortgage FAQ What influences current mortgage rates?

Mortgages

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

Housing Wire

FEBRUARY 19, 2025

These include contingency deadlines, financing requirements, inspection periods, and closing dates. Stay organized to avoid any last-minute surprises. Track important deadlines: Create a timeline to keep track of important dates and deadlines.

Closing

HomeLight

APRIL 10, 2025

This short-term financing option can help you buy your new home first and then sell your old one on your schedule. It uses the equity youve built in your existing home to give you quick access to cash for a down payment or to cover closing costs on your next purchase. A bridge loan could be the solution youre looking for.

Equity

Marco Santarelli

JANUARY 1, 2025

According to Greg McBride, Chief Financial Analyst at Bankrate, expectations for fewer rate cuts in 2025 suggest that homeowners should brace for potentially higher borrowing costs ahead. What Are the Cost Implications? Understanding how today's rates translate into real costs is vital for anyone looking to secure financing.

Mortgages

Marco Santarelli

DECEMBER 31, 2024

If housing inventory is low and demand remains high, price increases can occur, affecting affordability and driving buyers toward financing options. However, its essential to consider: Fees and Costs: Refinancing can incur closing costs and fees, which can offset potential savings from a lower rate.

Mortgages

Redfin

MARCH 26, 2025

When buying a home, few clauses are as important, or as misunderstood, as the financing contingency. Whether its your first time buying a home in Seattle, WA or youre looking to invest in a condo in Austin, TX , understanding how a financing contingency works can help you navigate the process and avoid costly mistakes.

Finance

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

JULY 18, 2025

Closing costs In addition to your down payment, plan for closing costs , which typically range from 2% to 5% of the purchase price. Make sure to estimate these totals so you’re not stretching your finances too thin. Just remember: a lower down payment usually means higher monthly payments.

Pre-approval

HomeLight

APRIL 9, 2025

This short-term financing option helps you buy your new home before your current one sells, giving you a little more control in a stressful situation. It gives you access to the equity in your existing home so you can cover a down payment and closing costs on your new purchase without waiting for your old house to sell.

Equity

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 22, 2024

Understanding these rates and how they can impact your financial decisions is crucial as you navigate your home financing options. However, a positive consideration is ensuring the additional debt taken on does not outweigh the benefits derived from the equity financing. Confirm that the savings exceed these costs.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Below you’re going to find some incredible recaps of home financing and mortgage blogs that have been published during 2017. Save more money for closing costs, moving expenses and an emergency fund.

Finance

Redfin

MARCH 11, 2025

Its credited back to the buyer at closing: If the deal moves forward, your earnest money is applied toward your down payment or closing costs. However, if you back out of the deal for reasons not covered by contingencies (such as inspection or financing), you may forfeit the earnest money to the seller.

Earnest money deposit

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Missing out on first-time homebuyer programs Between saving for a down payment and covering closing costs, buying a home can feel financially overwhelming.

Pre-approval

Marco Santarelli

MARCH 7, 2025

Financial tools and resources, like those offered by Yahoo Finance's home affordability calculator, can also assist in assessing which mortgage options fit best with your financial situation. Items such as these can add significantly to your monthly obligations.

Mortgages

Marco Santarelli

DECEMBER 21, 2024

Can you afford the closing costs? Refinancing comes with closing costs. Make sure you can cover these without putting a strain on your finances. If your current rate is significantly higher than today's rates, it might be time to consider refinancing. What is your credit score and DTI?

Debt-to-income ratio

Toronto Realty Blog

DECEMBER 9, 2024

Whether it was delays, deficiencies, material changes, closing costs, the occupancy period, or eventually – prices , I started writing about this in 2008 or 2009. I started writing this blog in June 2007, and it wasn’t long before I began to openly opine on the issues in the pre-construction condominium industry.

Construction

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

Redfin

JUNE 23, 2025

It’s a crucial period to verify the property’s condition, ensure it meets expectations, and meet any financing requirements set by the lender. Earnest money is a good-faith deposit held in escrow that can be applied to closing costs or the down payment. This only applies in certain states.

Due diligence

Redfin

MARCH 14, 2025

But before the deal is final, your lender needs to issue a mortgage commitment letter – a crucial step that signals your financing is solid and closing is within reach. A commitment letter shows that your financing is nearly finalized, making your offer more attractive, especially in a competitive housing market.

Debt-to-income ratio

The Mortgage Report

JUNE 24, 2025

In addition, recent declines also reflect that some homeowners are tapping into their equity to finance other activities ,” said Selma Hepp, chief economist at Cotality. These typically have lower closing costs but may come with slightly higher interest rates compared to cash-out refis. See if you qualify for a cash-out refi.

Equity

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. Example cost impact: At a 6.8% Step 2: Sell first or buy first?

Debt-to-income ratio

Redfin

MARCH 4, 2025

A mortgage pre-approval can also reassure the letter that your financing is likely to be approved during closing. In a seller’s market, a shorter closing period can make your offer even more attractive – cash offers usually close within two weeks.

Pre-approval

HomeLight

JULY 24, 2025

This short-term financing option gives you flexibility and control over your timeline. A bridge loan is a short-term financing option that helps you buy a new home while your current one is still on the market. But who wants to move twice? Thankfully, there’s another option. Yes, You Can Buy Before You Sell.

Equity

AAOA

MAY 22, 2025

Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Step 6: Close and Execute the Plan With financing locked in and due diligence complete, you move to closing day, b ut this is just the beginning. Closing costs typically run between 2% and 5% of the purchase price.

Due diligence

HomeLight

APRIL 18, 2025

Bridge loans usually come with higher interest rates and fees than traditional financing, but theyre built for speed and flexibility during the in-between phase of your move. In this case, a bridge loan allows you to use the equity in your existing home to cover the down payment and closing costs on your new property.

Equity

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

Marco Santarelli

APRIL 20, 2025

What are closing costs, and how do they affect my mortgage? Closing costs are fees incurred during the finalization of a mortgage, typically amounting to 2% to 5% of the loan amount. These costs can include appraisal fees, title insurance, and attorney fees.

Mortgages

HomeLight

JULY 28, 2025

It lets you tap into your existing home’s equity to cover a down payment and closing costs, giving you more flexibility in a tight timeframe. Also referred to as: bridge financing bridging loan interim financing gap financing swing loans How does a bridge loan work in Scottsdale?

Equity