Marco Santarelli

AUGUST 3, 2024

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

Fixed-rate mortgage

Realty Biz

JULY 19, 2021

Refinancing with a shorter mortgage could mean switching from 30 years to 15. Many folks will go with a no closing cost refinance , so they don’t have to take any cash out of their pocket. You can also lengthen the mortgage term if you need to. Moving From an Adjustable-Rate to a Fixed-Rate Mortgage.

Mortgages

HomeLight

MARCH 11, 2022

What about closing costs? But as Kevin Vitali , who has 14 years of experience selling Massachusetts real estate, explained, “Many first-time buyers don’t account for their closing costs.”. It’s important to remember closing costs when you purchase your first home. MassHousing Mortgage.

Closing costs

Realty Biz

MARCH 5, 2021

For a lot of people, even saving up enough to cover a down-payment and closing costs is a daunting financial task. Part of the loan goes toward paying the seller, while the rest is placed into an escrow account and released to the buyer as renovations are completed. DOE Weatherization Assistance Program.

Closing costs

The Close

DECEMBER 5, 2024

Flipping houses is a worthwhile investment in the long run, but it’s necessary to figure out how much it’ll cost to ensure you’re profiting from your efforts. The average cost of flipping a house varies depending on the property location, type, and degree of the required renovations. In addition, remember to apply the 70% rule.

House Flipping

Marco Santarelli

AUGUST 8, 2024

Here are some scenarios where refinancing could be beneficial: Homeowners with Existing Mortgages Above 6% : If you currently have a 30-year fixed rate mortgage at 7.5% , refinancing to a 30-year fixed rate at 6.56% can result in substantial monthly savings. Conclusion: The Right Move?

Mortgages

HomeLight

JULY 29, 2022

Whether it’s a vacation home or your forever home, buying a property at a lower price than what you can later sell it for, either with natural market appreciation or through renovations that increase your home’s value , clears you of any remaining owed balance and leaves you turning a profit. Customization/renovation to meet needs later on.

Purchase and sale agreement

Redfin

SEPTEMBER 27, 2021

Keep in mind that you’ll need to account for taxes, insurance, repairs and renovations, along with increased utility expenses. That sounds like a lot, but remember that some are upfront costs, some are recurring, and other costs only happen once in a while. Below are the common costs of buying a house.

Debt-to-income ratio

Marco Santarelli

OCTOBER 17, 2024

Additionally, the average 15-year fixed refinance rate has seen an increase, now at 5.63% , which may appeal to those looking to pay off their mortgage sooner while keeping payments manageable. Adjustable-Rate Mortgages (ARMs) : ARMs start with lower introductory rates that can increase after a specified time.

Mortgages

Norada Real Estate

JUNE 22, 2022

They usually buy them at REO auctions, renovate them and rent them out to the tenants, before putting the property on the market for sale. As a cash buyer, you can also save on closing costs. You don't need to pay a bank attorney for the mortgage. Types of Mortgage Options For Financing Turnkey Rental Properties.

Finance

Realtor.com

JANUARY 26, 2023

Even those in more stable parts of the country could lose money even if prices haven’t fallen due to closing costs and other fees. And eventually, they might be higher than a monthly mortgage payment. … And once you pay your loan off, your housing costs will decrease pretty significantly.”

Marketing

Marco Santarelli

SEPTEMBER 18, 2024

Personal Loans : An interest rate cut generally lowers the cost of personal loans. Borrowers can expect reduced payments, which may encourage more people to take out loans for renovations, debt consolidation, or other significant expenditures. How will the Fed's rate cut affect my current mortgage?

Loans

Realtor.com

JANUARY 19, 2022

It took us nine months of scouring the market in three states, touring dozens of homes, losing multiple bidding wars, and rescinding another offer on a fixer-upper that would need more work than we could afford to put in, before my partner and I finally closed on our home late last year—a cute, renovated Cape Cod outside of New York City.

Pre-approval