The Mortgage Report

JULY 4, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? Home equity loans offer fixed rates and lump sums, good for planned expenses.

Equity

The Close

NOVEMBER 25, 2024

Preforeclosure houses typically occur when a homeowner falls behind on mortgage payments, which results in loan default. During preforeclosure, homeowners have two main options: sell the property or pay off the outstanding loan balance. This is considered the early stages of a home going into foreclosure.

Hard money loan

Redfin

JULY 18, 2025

The down payment The amount you’ll need for a down payment depends on your loan type. While 20% down can help you avoid mortgage insurance, many buyers put down less – especially with FHA or conventional loans. Ask your realtor for written records about the property’s age, past renovations, and any history of damage or repairs.

Pre-approval

The Mortgage Report

JULY 9, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? Check your home equity loan options. How Much Home Can I Afford?

Equity

The Close

APRIL 3, 2025

When you need to finance a house flip, you need a loan that offers a repayment term that fits your project timeline, can close quickly, and, of course, doesnt have unrealistic eligibility requirements. This also allows it to close in as little as seven days.

Loans

AAOA

APRIL 14, 2025

They impact your loan terms and monthly payments. Importance of a Sizable Down Payment A larger down payment for an apartment building can lead to better loan terms. Conventional loans often require 20-25% down for apartment buildings. Government-backed loans might have lower requirements.

FHA loan

Marco Santarelli

DECEMBER 21, 2024

It can be about your financial goals and how a new loan structure can help you reach them. Switching loan terms: Perhaps you want to go from a 30-year mortgage to a 15-year mortgage to pay it off quicker. Switching loan terms: Perhaps you want to go from a 30-year mortgage to a 15-year mortgage to pay it off quicker.

Debt-to-income ratio

Redfin

AUGUST 5, 2025

In this article, we’ll review the major costs associated with house flipping and the loan options you should know about. How much does it cost to flip a house? Buying any house is costly, but the cost to buy, rehab and flip a house can be costlier. A traditional mortgage loan application takes much longer to process.

Loans

The Living Room

MAY 2, 2025

Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. Adequate financial preparation includes exploring various loan products, understanding the implications of interest rates, and setting aside reserves for unexpected expenses.

Earnest money deposit

AAOA

MAY 22, 2025

Get a Free Multifamily Loan Quote Access Non-Recourse, 10+ Year Fixed, 30-Year Amortization GET A FREE QUOTE How to Buy an Apartment Complex (Step-by-Step) Now that you know the basics of the market, lets discusshow to buy an apartment complex. Understand what size loan you can qualify for. Talk to lenders.

Due diligence

Redfin

AUGUST 5, 2025

If you dream of building a large home, a jumbo construction loan may be in your future. Jumbo construction loans are designed to finance constructing a new home up to a certain threshold. What is a jumbo construction loan? Construction-to-permanent loan: The construction loan converts to a mortgage after construction.

Construction

The Mortgage Report

JUNE 9, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? These aren’t small fluctuations.

FHA 203k rehab loan

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Federal loan options: Government-backed loans like FHA, VA, and USDA loans are popular among first-time buyers, offering flexible credit and down payment requirements. These require just 3.5%

Purchase and sale agreement

Redfin

JUNE 23, 2025

Earnest money is a good-faith deposit held in escrow that can be applied to closing costs or the down payment. Home appraisal If the buyer is financing the home, the lender will usually require a home appraisal to ensure the home’s value supports the loan amount. This only applies in certain states.

Due diligence

AAOA

MARCH 24, 2025

They may face functional issues, have outdated designs, or require maintenance and renovations. Alternatively, if you purchase a multifamily property and undertake some value-added renovation and modernization, you could optimize your income and increase the propertys value. You can also refinish the property at a higher value.

Property Management

Redfin

FEBRUARY 24, 2025

Unexpected expenses: Unforeseen challenges, such as discovering hidden underground utilities, can lead to additional costs. Financing and closing costs: If you’re financing the land purchase or construction, anticipate paying 2% to 5% of the loan amount in closing costs. is $419,200.

Debt-to-income ratio

Redfin

JUNE 24, 2025

And if you’ve been renting a house or living in an apartment and now buying a home for the first time, the process might feel completely unfamiliar… In this Redfin article, we’ll explain each of the key closing documents and their importance to your purchase so you can grab your keys and get home quickly.

Closing

The Close

MARCH 11, 2025

Various financing options exist for FSBO properties, like traditional mortgages, hard money loans, and private investors. It’s crucial to evaluate the cost, flexibility, and duration of each option. Rehab loans: Specifically designed to finance both the purchase and renovation of under-maintained properties.

Sales

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. Pro Tip: Setting aside enough for a solid down payment can result in better loan terms and reduced monthly payments. I also recommend you not forget little details.

Purchase and sale agreement

Redfin

MARCH 4, 2025

Investors may see foreclosure purchases as an opportunity to renovate and resell for a profit, while homebuyers may find a house they wouldnt otherwise be able to afford. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans.

Pre-approval

Redfin

APRIL 11, 2025

In high cost of living areas, homes that need TLC often sit at more approachable price points for first-time home buyers than turnkey homes. But with renovation costs on the rise, demand for move-in-ready homes is starting to outpace that of fixer-uppers. How much does a starter home cost?

Marketing

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). The housing costs cannot exceed 29% and total debt cannot exceed 41%.

Closing costs

Norada Real Estate

JUNE 22, 2025

These changes signify a modest yet significant moment for potential homebuyers and those looking to refinance their existing loans. On June 22, 2025, data depict that mortgage rates are experiencing a mild decrease, which could benefit those seeking new loans or considering refinancing their current terms.

Mortgages

Marco Santarelli

JUNE 8, 2025

Now, having followed the market for years, I’ve learned that timing your refinance can be just as crucial as getting a good initial loan. To shorten the loan term: If you're in a better financial position, you might refinance from a 30-year mortgage to a 15-year one. These costs typically range from 2% to 6% of the new loan amount.

Mortgages

Redfin

JUNE 9, 2025

Because lenders base loan amounts on the appraisal—not the purchase price— buyers are typically responsible for covering this difference out-of-pocket. Since your lender bases the loan amount on the appraised value, they’ll only finance 80% of $380,000—not the $400,000 you agreed to pay. How does an appraisal gap work?

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Selling as is means no repairs or renovations are required, saving time and money. 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. Without involving lenders or appraisals, the buying process can be streamlined.

As-is

Redfin

MARCH 4, 2025

You can tap into your home equity with a home equity loan or a home equity line of credit (HELOC). Step 5: Calculate your loan-to-value ratio (LTV) A key calculation in understanding your home equity is the loan-to-value ratio (LTV). LTV is the ratio of your current mortgage loan to the homes appraised value.

Equity

Redfin

JUNE 17, 2025

Pricing your property above appraisal requires some careful thought and could lead to complications if your buyer is taking out a loan, all of which will be explored in this Redfin article. Renegotiate the offer If the appraisal comes back for less than the selling price and the buyer is taking out a loan, this is called an appraisal gap.

Closing costs

Redfin

AUGUST 5, 2025

Remodeling costs depend on your plans, the age of your home, and the contractors you hire. Moving costs depend on local housing prices, mortgage rates, and transaction fees. Housing market: Your local housing market can also influence your decision to renovate or move. Is it cheaper to renovate or move?

Renovation

AAOA

JULY 3, 2025

However, ongoing costs and tenant management can be challenging. Houses offer more control and long-term appreciation , especially due to land ownership and flexibility in renovations, but they require higher upfront investment and maintenance. Interest you pay on loans for big property improvements also can qualify for this deduction.

Property Management

HomeLight

MARCH 11, 2025

This increase in value is what every homeowner wants giving you more options when it comes to future financial decisions, like selling, refinancing, or taking out a home equity loan. This free tool will factor in your homes sale price, as well as closing costs , agent commissions, and any outstanding mortgage balance.

Equity

Marco Santarelli

JUNE 23, 2025

Mortgage Refinance Rates Today ( June 23, 2025) Fall 6 Bps Understanding the Refinance Rate Dip A drop of 6 basis points might seem small, but it can make a difference over the life of a loan. Other Loan Types: The 15-year fixed refinance rate has also decreased by 6 basis points, now averaging 5.96%. You'll build equity faster, too!

Mortgages

Marco Santarelli

JULY 2, 2025

Refinancing allows homeowners to adjust their loan terms, either lowering their monthly payments or accessing equity for renovations or other expenses. However, it's essential to evaluate costs against potential savings carefully. Factor in any fees involved in the refinancing process, such as closing costs or origination fees.

Mortgages

Marco Santarelli

JUNE 20, 2025

What's your current interest rate, loan term, and monthly payment? Factor in all the costs involved, such as appraisal fees, closing costs, and any prepayment penalties on your existing loan. Home Improvements: Use the extra cash to fund renovations that increase your home's value. Not necessarily.

Mortgages

The Close

JULY 28, 2025

You see, portfolio lenders retain loans in-house so they don’t have to worry about third-party requirements. All of that makes sense, as browsing through Kiavi’s catalog of loan products, I also got the sense that it would be quite simple to get funding.

Pre-qualification

AAOA

MARCH 10, 2025

Get a Free Multifamily Loan Quote Access Non-Recourse, 10+ Year Fixed, 30-Year Amortization GET A FREE QUOTE Definition of Recognized Gain Recognized gain is the portion of your profit thats taxable in the current year. Remember, you can often deduct your closing costs (selling expenses) from your gain. Not so fast.

Investor

Redfin

AUGUST 5, 2025

Benefits of buying a house alone Here are some of the biggest benefits of buying a house alone: You get to call the shots: Ever watched those couples arguing on HGTV about how to renovate their home? Securing a low interest rate means you’ll pay less money over the life of the loan.

Debt-to-income ratio