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 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

FEBRUARY 24, 2025

In contrast, building a home in 2025 is estimated to cost between $138,937 and $531,294 , excluding land costs, which can add an additional $3,000 to $150,000 depending on the property’s location and size. Larger homes or those with high-end finishes will naturally incur higher costs. reached $390,000. is $419,200.

Debt-to-income ratio

Redfin

AUGUST 5, 2025

In this Redfin article, we’ll outline the new construction process, including the pros and cons of buying a new build, and financing options. Financing can be more expensive compared to existing homes, and there may be unexpected costs and delays during the building process. Should you build or buy your first home?

Pre-qualification

Redfin

APRIL 11, 2025

Cheap land is harder to come by, and buyer expectations have also evolved. Rising land costs, limited inventory, and changing buyer demographics all influence what qualifies as a starter home today. The initial costs , like a down payment and closing costs, can be a big hurdle for many first-time homebuyers.

Marketing

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

HomeLight

JULY 23, 2025

This requirement applies to sales, exchanges, lease-to-own agreements, and installment land sales. These companies usually buy at a discount but offer quick closings and often cover the seller’s closing costs. This can be a good option if the home needs major repairs and may not appeal to traditional buyers.

As-is

Redfin

MARCH 4, 2025

Mortgage and financing documents Youll want to put together all your home loan and financing forms you would have received from your mortgage lender. This could be an agreement to leave certain appliances or pieces of furniture with the home, or an agreement to pay part of the other partys closing costs.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

This process involves transferring the property to a buyer with available funds, eliminating the need for mortgage financing. On the positive side, there is no need for expensive repairs or renovations, and cash buyers often cover the closing costs, saving you money in the long run.

As-is

Redfin

AUGUST 5, 2025

Jumbo construction loans are designed to finance constructing a new home up to a certain threshold. They’re related to a jumbo loan, a type of mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). What is a jumbo construction loan? Should I get a jumbo construction loan?

Construction

Marco Santarelli

MARCH 13, 2025

Several key ingredients go into the mix that determines where they land: Inflation: When prices for goods and services rise (inflation), mortgage rates tend to follow suit. Focus on what you can control: your finances, your credit score, and your research. Mortgage Rates Remain Near 3-Month Low: Should You Lock in Now?

Mortgages

Marco Santarelli

JUNE 8, 2025

You'll encounter closing costs , which can include appraisal fees, title insurance, and lender fees. These costs typically range from 2% to 6% of the new loan amount. This is why carefully weighing the potential savings against these upfront costs is so important. How much will the refinancing closing costs be?

Mortgages

HomeLight

MARCH 7, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

HomeLight

APRIL 2, 2025

Real estate attorneys are not essential for closing. Still, they are often hired by escrow agents and title companies to prepare closing documents due to Hawaiis history of land division and recording procedures and its implications on modern real estate practices. Real estate transfer taxes?

As-is

Rochester Real Estate

NOVEMBER 5, 2015

Every municipality is different, but in general, when making an improvement or change to a piece of property or land, a certificate of compliance (and/or permit) is required. A counter offer, even if it’s close to the list price, is better than letting a potential buyer walk! What are seller concessions?

Purchase and sale agreement

Marco Santarelli

JUNE 22, 2025

Wells Fargo: They believe rates will stay consistent through the summer but might dip slightly by the end of the year, landing around 6.5%. Just remember to factor in closing costs and how long you plan on staying in the home. Realtor.com: Similar to NAR, they anticipate rates falling to 6.2%

Mortgages

Norada Real Estate

JUNE 21, 2025

Currently, the 5-year ARM has seen a notable decrease, landing at 7.05% , whereas the 7-year ARM has experienced a slight uptick to 7.56%. Additional factors often come into play, such as discount points, closing costs, and lender fees, all of which can impact the total cost of the mortgage.

Mortgages

Marco Santarelli

JULY 4, 2025

Wells Fargo: They believe rates will stay consistent through the summer but might dip slightly by the end of the year, landing around 6.5%. Just remember to factor in closing costs and how long you plan on staying in the home. Realtor.com: Similar to NAR, they anticipate rates falling to 6.2%

Mortgages

Housing Wire

MARCH 10, 2025

It’s a a system that has saved homeowners thousands in closing costs but has also faced pushback from the national title insurance industry. We recognize the value in the American Land Title Association (ALTA) policy form, Malone said. The Federal Housing Finance Agency later approved the pilot.

Title

Housing Wire

NOVEMBER 22, 2024

Biden announced that the Federal Housing Finance Agency (FHFA) had approved measures to reduce closing costs, including a pilot to waive lender title requirements. Things escalated in March 2024 during President Joe Biden’s State of the Union address.

Title

Marco Santarelli

APRIL 5, 2025

The cost of raw materials (like lumber and steel, which can be affected by tariffs, indirectly contributing to housing costs, though this is a more complex link), labor shortages in the construction industry, and land development expenses all contribute to higher prices for new builds, which in turn can impact the prices of existing homes.

Mortgages

Marco Santarelli

JUNE 17, 2025

15-Year Fixed Rate: A slight decrease of 2 basis points , landing at 5.99%. However, keep in mind that refinancing isn't always guaranteed, and you'll need to factor in closing costs. Financial Stability: It is important that you have stable finances to absorb any mortgage costs.

Fixed-rate mortgage

HomeLight

APRIL 11, 2025

No financing roadblocks: Cash offers mean you wont need to fret about a buyers mortgage potentially failing. Lower closing costs: Some Silver Spring companies may take care of closing costs , helping you save money. Guaranteed sale: You can rest assured that your Silver Spring home will sell without contingencies.

Inspection

HomeLight

MARCH 21, 2025

Youll also be prompted to fill out information about : Structural elements Utilities Land Use Taxes Appliances History of flood No matter what method you choose to sell your home, its required to make these disclosures to the best of your ability. These companies can help sellers cash out quickly, and many will cover a sellers closing costs.

As-is

Inman

JULY 11, 2025

Title insurers wanted to put the brakes on a pilot program that uses automated title reviews to allow some homeowners to refinance their mortgage without having to pay for title insurance.

Title

Housing Wire

DECEMBER 11, 2024

The initiative, announced by President Joe Biden during his March 2024 State of the Union address , seeks to reduce closing costs as part of his broader war on junk fees. The Federal Housing Finance Agency (FHFA) approved the pilot, framing it as a step toward more affordable homeownership. Leading U.S.

Title

Housing Wire

DECEMBER 14, 2023

The government sponsored entities is part of its Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA). The initial version of the GSE’s Equitable Housing Finance Plans were approved in the summer of 2022 by the FHFA.

Title

Housing Wire

MARCH 8, 2024

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings. Soham Bhonsle, an analyst at BTIG, shares a similar outlook.

Title

Housing Wire

MARCH 9, 2023

“We know that closing costs continue to be a barrier for homebuyers – especially among underserved populations and first-time homebuyers,” a Fannie Mae spokesperson wrote in an email. “We The GSE’s Equitable Housing Finance Plans were approved this summer by the Federal Housing Finance Agency.

Title

Housing Wire

NOVEMBER 2, 2022

Rocket Mortgage is now offering a conventional loan option for buyers who want to purchase or refinance a manufactured home, which expands the home financing options in a rapidly shrinking industry. Manufactured homes are built at indoor homebuilding facilities and then delivered to the land chosen by the owner.

Loans

Housing Wire

AUGUST 14, 2023

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. The pilot program was said to have been a component of the government sponsored entities’ (GSEs) Equitable Housing Finance Plans , which are required by their regulator Federal Housing Finance Agency (FHFA).

Title

Housing Wire

MAY 8, 2023

Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers. “With BorrowSmart Access, we’re delivering on that mission by providing ways to reduce cost in the homebuying process.”

Debt-to-income ratio

Housing Wire

OCTOBER 13, 2022

Since the government sponsored entity’s announcement, the American Land Title Association has taken a strong stance against AOLs and other title insurance alternatives. Daniel Wold, ALTA’s president, added: “We will continue speaking out against alternatives to title, which pose an even greater risk to the housing finance system.”.

Title

Housing Wire

FEBRUARY 23, 2023

Preventing wire fraud and helping wire fraud victims Every year, unsuspecting homebuyers fall victim to a scam called real estate wire fraud, where fraudsters trick them into wiring their downpayments and closing costs to a fraudulent account. As an industry, we united against these unfair fee agreements.

Title

Housing Wire

APRIL 11, 2022

Fannie Mae has identified closing costs as a barrier to homeownership,” Jim Albertelli, the CEO of Voxtur said in a statement. The company also claims that in some markets, the savings generated by using Voxtur’s AOL product instead of a traditional title insurance policy, could save consumers up to an “entire mortgage payment.”.

Title

Housing Wire

AUGUST 13, 2024

The American Land Title Association is making it clear that it won’t have the Consumer Financial Protection Bureau making drastic changes to title insurance without first at least hearing the trade groups thoughts on the issue. In a 15-page letter sent to CFPB Director Rohit Chopra on Aug.

Title

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. Native Americans often face difficulty when accessing credit on tribal lands.

VA loan