The Mortgage Report

JUNE 24, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? 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.

Equity

Redfin

JULY 9, 2025

Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. You may have saved enough for your down payment, but make sure to also account for closing costs, taxes, insurance, and any other unforeseen expenses that may arise.

Pre-approval

Redfin

MARCH 4, 2025

Step 1: Get pre-approved If you’re buying with a loan, include a pre-approval letter with your offer. A mortgage pre-approval can also reassure the letter that your financing is likely to be approved during closing. Do some homework up front.

Pre-approval

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

JULY 30, 2025

Knowing your true budget means going beyond just what a lender will approve you for. This also includes setting aside funds for closing costs, unexpected repairs, and moving expenses. Without a clear plan in place, you risk overcommitting yourself or falling in love with a home that stretches your finances too thin.

Earnest money deposit

The Mortgage Report

JULY 11, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Buyers who have evaluated their finances, secured mortgage pre-approval, and understand local market trends are better positioned to act decisively when the right opportunity arises.

FHA 203k rehab loan

Redfin

JULY 14, 2025

The money is held in escrow and is typically applied towards the buyer’s closing costs or down payment. Changing the financing structure (like moving from a conventional loan to FHA) without written consent. Failing to deliver required documents (like updated proof of funds or loan pre-approval) by the contract deadlines.

Earnest money deposit

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. Closing costs: Typically 2-5% of the home’s purchase price.

Pre-approval

Redfin

MARCH 4, 2025

From finding houses to tour and what financing options you have, theres a lot to learn about buying a home in foreclosure. If the auction accepts financing, make sure you have a pre-approval ready. Short sales A short sale is not the same as a foreclosure or a pre-foreclosure.

Pre-approval

AAOA

MAY 22, 2025

Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Step 2: Get Pre-Approved or Prepare to Raise Capital Before you make offers, get your finances in order. Closing Costs In addition to the purchase price and renovation budget, plan for closing costs.

Due diligence

The Mortgage Report

JUNE 9, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Based in Denver, he has over 25 years of experience in the real estate and finance industries. That starts with getting fully pre-approved for a mortgage , not just pre-qualified.

FHA 203k rehab 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

JULY 31, 2025

From your expected sale price, subtract: The full mortgage payoff amount Real estate agent commissions Closing costs Any unpaid taxes, liens, or HOA fees Repair credits or buyer concessions What’s left is your net proceeds—the money you’ll take home, if all goes well.

Mortgages

Marco Santarelli

MARCH 13, 2025

Get Pre-Approved: Getting pre-approved for a mortgage will give you a better idea of how much you can afford and will also strengthen your offer when you find the right home. Focus on what you can control: your finances, your credit score, and your research. Trying to predict the future is a fool's errand.

Mortgages

Marco Santarelli

MAY 3, 2025

Get Pre-Approved: Before you start seriously looking at homes, get pre-approved for a mortgage. Closing Costs: Factor in the closing costs associated with refinancing. These costs can include appraisal fees, title insurance, and other expenses.

Debt-to-income ratio

The Mortgage Report

JULY 24, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Personal finance expert Aimee Frey , on the other hand, interprets these findings a bit more critically. How Much Home Can I Afford? Authored By: Erik J.

FHA 203k rehab loan

Redfin

JULY 31, 2025

They cover topics like budgeting, building credit, mortgage options, house hunting, and closing. If you’re unsure where to start, check with HUD-approved counseling agencies, non-profit organizations, and local housing authorities to find available courses. Check with your state’s housing finance agency for options.

Purchase and sale agreement

The Mortgage Report

JULY 8, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Approval for a fixed‑rate equity loan works much like your first mortgage. After closing, you receive a one-time lump sum of cash. How Much Home Can I Afford?

Equity

Redfin

JULY 31, 2025

Even if you can afford the payments, adding new debt may reduce your loan approval or lead to higher interest rates. Additionally, set aside extra savings for closing costs, moving expenses, and any home updates or repairs you may need right away. >>Discover: How to Get Pre-Approved for a Mortgage: 7 Steps for Success 7.

VA loan

The Mortgage Report

JULY 1, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Personal finance expert and senior contributor at Save My Cent, Andrew Gosselin , says this news shouldn’t come as a shock to anyone. How Much Home Can I Afford?

Loans

The Mortgage Report

JULY 7, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Start here When it comes to home equity, timing can boost your gains—or cost you. The best time to borrow is when the market’s in your favor and your finances are solid.

Equity

Redfin

JULY 11, 2025

This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan.

Earnest money deposit

The Mortgage Report

JULY 10, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? But since you’re creating a brand new second mortgage, you’ll also need to account for closing costs. Lock in your rate and close the deal. How Much Home Can I Afford?

Equity

The Close

JULY 28, 2025

Portfolio lenders can be an excellent financing option if you’re looking for a source of funding that you can’t get anywhere else, whether it’s because you can’t get approved, or you’re just flat out looking for uncommon terms. You see, portfolio lenders retain loans in-house so they don’t have to worry about third-party requirements.

Pre-qualification

Rochester Real Estate

NOVEMBER 5, 2015

This involves making a careful budget that includes potential costs like the down payment, closing costs, taxes, and possible renovation expenses. The first step to buying a house in New York is to assess your financial readiness and get pre-approved for a mortgage. I also recommend you not forget little details.

Purchase and sale agreement

Redfin

MARCH 4, 2025

Pre-listing home inspection As the seller, it may be helpful to get an inspection of your home done before selling your home , though in most markets the buyer will pay for a home inspection and most states do not require a pre-listing home inspection. If not, you will sign these at closing.

Purchase and sale agreement

Marco Santarelli

DECEMBER 5, 2024

Instead, they should plan their budgets and finances around the mid-6% range. Incentives Could Help: Offering incentives to buyers, such as covering closing costs, could help sellers stand out and attract potential buyers. Buyers: Begin planning your finances now.

Mortgages

Redfin

JUNE 30, 2025

Clean terms, proof of financing, and flexibility can help your offer get noticed—even as a backup. It typically includes: The purchase price Contingencies (like financing or inspections) Requests for the seller (such as covering closing costs or repairs) Other key dates (including response deadline, closing date, etc.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Many of these first time home buyer programs and grants can help cover a large amount of the “closings costs” and/or allow them to finance a higher percentage of the loan (or all of the loan in some cases). Rural Development has partnered with lenders across the country to allow 100% financing on eligible properties.

Closing costs

Redfin

APRIL 11, 2025

The initial costs , like a down payment and closing costs, can be a big hurdle for many first-time homebuyers. Unlike renting, you’re responsible for all maintenance and repair costs , which can be unpredictable and add up. . >>See But buying a starter home also has its downsides compared to renting.

Marketing

Redfin

MARCH 4, 2025

The difference between these two accounts is that traditional 401(k) contributions are pre-tax, so youll be taxed once taking them out. For example, you may qualify for a hardship withdrawal to cover your down payment or closing costs. How does withdrawing from a 401(k) affect mortgage approval?

Debt-to-income ratio

Redfin

JULY 30, 2025

These are key criteria lenders and programs use to determine if you’re eligible for financing and special perks like down payment assistance. In this Redfin article, we’ll be going over what counts as a first-time buyer, what qualifications you’ll typically need to meet, and how to get your finances in shape for your home purchase.

Debt-to-income ratio

Marco Santarelli

JULY 1, 2025

Get Pre-Approved: Getting pre-approved for a mortgage gives you a clear understanding of how much you can borrow and strengthens your offer when buying a home. Factor in All Costs: Don't just focus on the interest rate. Compare rates and terms from multiple lenders to ensure you're getting the best deal.

Fixed-rate mortgage

The Mortgage Report

JUNE 16, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Compare your multiple loan offers carefully and watch out for fees, closing costs and minimum draw requirements. How Much Home Can I Afford?

FHA 203k rehab loan

Marco Santarelli

MARCH 23, 2025

This slight decline might provide a silver lining for those trying to secure their financing. These values offer insights into not just how much these homes will cost, but also how potential homebuyers can plan their finances accordingly. Pre-approval: Before looking at homes, you should get pre-approved for a mortgage.

Mortgages

Marco Santarelli

MARCH 20, 2025

Therefore, it's essential to carefully evaluate your potential savings and closing costs before making a decision. Monthly Payment on a $500k Mortgage: If you were to finance $500,000, your monthly mortgage payment, at a 6.61% interest rate, would be in the range of $3,209 (principal and interest).

Mortgages

Redfin

JULY 3, 2025

A home can provide a fresh start, but buying too soon can create complications if your divorce isn’t fully settled or if your finances aren’t yet stable enough for a mortgage. Some lenders may require a finalized divorce decree before approving a mortgage, as this document outlines debt and asset division, alimony, and more.

Debt-to-income ratio