Inman

FEBRUARY 4, 2025

In his first act as interim Consumer Financial Protection Bureau director, Treasury Secretary Scott Bessent froze action on all rules and litigation. Here's what that potentially means for the recent slate of rules and lawsuits targeting the mortgage industry.

Closing costs

Redfin

FEBRUARY 18, 2025

Can you roll closing costs into your mortgage? Basically, folding your closing costs into your loan means you’ll need less cash upfront at closing. However, the trade-off is higher monthly payments and more interest paid over the life of the loan. What are closing costs?

Closing costs

Redfin

FEBRUARY 20, 2025

Closing costs arent just a buyers responsibility – sellers have their own expenses to consider as well. On average, sellers can expect to pay between 6% to 10% of the sale price in closing costs , including agent commissions, transfer taxes, and title fees. What are closing costs for sellers?

Closing costs

Housing Wire

JULY 11, 2025

All of these professions come into contact with individuals who are buying homes and could need a loan. Loan officer profile visible to leads (Source: LendingTree ) Want leads fast? From there, they complete qualification forms and are given loan options and lenders, like you, who can help them. Check out LendingTree.

Mortgages

Redfin

JUNE 5, 2025

The absence of mortgage payments, the speed of closing, and the strong appeal to sellers are undeniable benefits. Many cash buyers assume that by sidestepping a home loan, they also bypass the complex array of fees associated with closing. In fact, a recent Redfin report shows that just under one-third of U.S.

Closing costs

The Close

NOVEMBER 25, 2024

However, it’s undeniable that the upfront costs can be pricey. Multifamily mortgage loans typically require 20% of the property price for a down payment, and there are inevitable maintenance and property management costs. The higher the home’s sale price, the higher your closing costs.

Purchase and sale agreement

Marco Santarelli

DECEMBER 29, 2024

Mortgage News This Week In the week ending December 22, 2024, there has been a notable increase in mortgage rates, pushing 30-year fixed-rate loans to an average of 6.91%. This upward trend in rates can be attributed to renewed investor interest and adjustments in long-term bond yields, which are closely linked to mortgage rates.

Mortgages

Redfin

JULY 29, 2025

A lot of people will ask “Is down payment included in closing costs?” It’s easy to get them confused because they’re both big upfront costs you pay when you’re in the homebuying process. Closing costs are all the fees for the services needed to finalize the home sale.

Closing costs

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

Marco Santarelli

APRIL 20, 2025

Current Mortgage Rates To provide a clearer view of today's mortgage rates across several terms, heres a detailed breakdown: Loan Type Current Rate (%) 30-Year Fixed 6.79 These figures represent national averages rounded to the nearest hundredth and are essential for anyone looking to understand the cost of borrowing in todays market.

Mortgages

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Not getting pre-approved for a home loan before starting your search A common mistake for first-time homebuyers is jumping into the search without first getting pre-approved for a mortgage. For instance, on a $350,000 mortgage, a 3.5%

Pre-approval

The Mortgage Report

JULY 8, 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? What Are the Different Types of Home Equity Loans and Which Is Best?

Equity

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. These include lender fees, title insurance, and appraisal charges. Monthly payments Think beyond the mortgage itself.

Pre-approval

Redfin

JANUARY 28, 2025

Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. From evaluating the loan terms to understanding the hidden costs, assuming a mortgage isn’t a decision to take lightly.

Loans

Redfin

MARCH 11, 2025

Its held in an escrow account : A neutral third party (escrow company or title company ) holds the funds until closing. Its credited back to the buyer at closing: If the deal moves forward, your earnest money is applied toward your down payment or closing costs. Can earnest money go towards closing costs?

Earnest money deposit

Redfin

JANUARY 28, 2025

If you’re exploring mortgage options or looking to sell your home, whether its a charming home in Nashville or a spacious townhome in Houston , you might wonder: Are FHA loans assumable? Are FHA loans assumable? This is a unique feature of FHA loans, as not all loan types (like most conventional loans) offer this option.

FHA loan

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

Redfin

MARCH 14, 2025

But before the deal is final, your lender needs to issue a mortgage commitment letter – a crucial step that signals your financing is solid and closing is within reach. A mortgage commitment letter is a formal assurance from your lender that your loan has been reviewed and is on track for approval, pending final conditions.

Debt-to-income ratio

Redfin

JULY 15, 2025

This Redfin guide is here to be your checklist, breaking down the upfront costs you’ll need to cover to actually close on your home and make it yours. From inspections to closing fees, here’s what you should know (and plan for) before you get the keys. Closing costs So, what are closing costs ?

Closing costs

The Mortgage Report

JULY 15, 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? Adding someone to the home’s title is possible without changing the loan.

FHA 203k rehab loan

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

Redfin

MARCH 18, 2025

The earnest money is typically held in an escrow account – a neutral third party, such as a title company or real estate brokerage, holds onto the funds until the sale is finalized. It can cover part of your closing costs. This is more common with VA loans or USDA loans, which require no down payment.

Closing

Redfin

JUNE 23, 2025

In real estate, the due diligence period is the time between an accepted offer and closing. You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. Insurance costs and coverage vary based on the home’s location, age, and condition.

Due diligence

Redfin

FEBRUARY 28, 2025

From the down payment to closing costs, there are a lot of expenses to consider. Whether youre buying a house in Seattle or a home in Denver – this Redfin guide will break down every major cost to help you budget effectively and avoid surprises. home price about $420,000as a benchmark for estimating these costs.

Earnest money deposit

Redfin

AUGUST 5, 2025

Conveyance is when the property you’ve worked tirelessly to purchase becomes yours, and you’re transferred the deed and title. The transaction is completed using an instrument of conveyance, usually a legal document such as a title , deed or lease. Once the property is conveyed during the closing process , it’s yours.

Purchase and sale agreement

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

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. But generally speaking, the more costs you ask the seller to pay, the less appealing your offer becomes.

Pre-approval

Redfin

JUNE 27, 2025

Seller concessions refer to closing costs or other fees that the seller agrees to pay on the buyer’s behalf. For example, a buyer might ask the seller to pay $5,000 toward their closing costs. If agreed, this would be included in the contract and deducted from the seller’s proceeds at closing. Are they negotiable?

Seller concession

Redfin

JULY 24, 2025

However, you will almost certainly have to cover closing costs. We’ll explain how it’s possible to roll closing costs into your new loan, potentially eliminating the need for upfront cash. How to avoid paying closing costs. What is required for a mortgage refinance?

Mortgages

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

JUNE 30, 2025

That said, laws and practices vary slightly by state, so it depends on how the title company, attorney, or escrow agent handles closings. Closing agent: A title company representative, escrow officer, or closing attorney (depending on the state) oversees the process, ensures documents are signed correctly, and handles funds.

Closing

Redfin

JULY 1, 2025

A seller’s credit, also known as a seller concession, is a financial agreement where the home seller agrees to cover some of the buyer’s closing costs. Rather than lowering the price of the home, the seller contributes a credit at closing to help reduce the buyer’s upfront expenses. What is a seller’s credit? Not exactly.

Purchase and sale agreement

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. These could also include any home equity loans or lines of credit you may have with your lender. Preliminary title report Youll want to find your original title report.

Purchase and sale agreement

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 9, 2025

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. Rule of thumb: Aim to spend no more than 28% of your gross monthly income on housing costs, and keep your total debt payments under 36% of your income.

Pre-approval

Redfin

JULY 23, 2025

Key takeaways for your down payment strategy 20% isn’t required: You don’t always need a 20% down payment to buy a home, thanks to various loan options. The amount you’ll be required to put down may vary depending on the loan program you use to finance the home purchase. What is a down payment?

FHA loan

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