Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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VA loan Agents Seller concession FHA loan 450

Redfin

JULY 11, 2023

Essentially, a mortgage enables individuals to become homeowners by providing the necessary funds upfront, with the property serving as security for the loan. You then make monthly payments, including principal and interest, over an agreed-upon term (usually 15 to 30 years) until the loan is fully repaid. What are closing costs?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

Realty Biz

APRIL 4, 2023

The US Department of Veterans Affairs offers all kinds of help to US military veterans, but one of the most helpful is certainly how vets looking to purchase a property can rely on the VA’s loan program to access highly affordable mortgage lending at attractive rates. What Are VA Loans?

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Lending VA loan Mortgages Principal 80

Redfin

FEBRUARY 11, 2021

If your down payment is less than 20%, PMI is non-negotiable for most loan types. The good news is that you can discontinue this payment when you have paid off 20% of the loan’s principal amount – the equivalent of that 20% down payment. 4) Pursue a VA loan if you qualify. How to calculate PMI.

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Debt-to-income ratio VA loan Fixed-rate mortgage Loans 65

Norada Real Estate

JUNE 22, 2022

As a cash buyer, you can also save on closing costs. Financing turnkey rental properties with cash means you don't need to put real estate taxes in escrow upfront nor pay for a mortgage application and loan origination fees. These loans tend to allow a lower down payment and credit score when compared to conventional loans.

Finance 96

Finance FHA loan Investor Loans 96

HomeLight

JUNE 22, 2023

Why must there be so many lending companies, all of which have different requirements and terms? Conventional loan To get a conventional loan , you’ll need to go to a private financial institution, which include banks, credit unions, and mortgage companies. And they need answers to their mortgage questions.

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Debt-to-income ratio Mortgages FHA loan Loans 89

HomeLight

NOVEMBER 20, 2023

Along with the obvious advantage of a lower interest rate, an assumed loan can also come with fewer transaction fees and greater speed. Instead of securing a new mortgage with higher rates, a buyer can assume the home seller’s existing interest rate, principal balance, repayment period, and other terms of the lending agreement. “A

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FHA loan Mortgages VA loan Loans 97