The Mortgage Report

JULY 7, 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? And most homeowners were paying lower rates on their existing mortgage than they could get now.

Equity

Redfin

JULY 31, 2025

Between finding the right mortgage and deciding what you want in a home, there’s a lot to consider. In this article: Planning and preparing financially Finding the right mortgage House hunting Making the deal What comes next? They cover topics like budgeting, building credit, mortgage options, house hunting, and closing.

Purchase and sale agreement

HomeLight

APRIL 30, 2025

Get Started What to know about closing costs and commissions Sellers in Alabama can expect to pay several typical closing costs when their home sells, but Hyatt notes that the fees are relatively fair compared to many other states. The biggest cost is usually the real estate agents commission.

Sales

The Mortgage Report

JULY 1, 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? of mortgaged home sales in April, up from 14.2% How Much Home Can I Afford? VA home loans rose to 7.2%

Loans

Marco Santarelli

MARCH 23, 2025

As of today, March 23, 2025, mortgage interest rates have slightly dropped compared to last weeks figures, providing a favorable landscape for potential homebuyers and those looking to refinance. Monthly Payment on $150,000 Mortgage For a 30-year fixed mortgage at 6.51% : Monthly Payment: $948.10

Mortgages

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. Before tapping into your 401(k), consider alternatives like down payment assistance programs or low-down-payment mortgage options. Can I use my 401(k) to buy a house?

Debt-to-income ratio

The Close

APRIL 3, 2025

of purchase price and 100% of renovation cost RCN Capital is a private lender that offers a variety of loan programs for real estate investors. Here are some of the most important considerations: Interest rates and fees : One loan may offer a lower interest rate, but charge more in origination fees and closing costs.

Loans

Housing Wire

JULY 4, 2024

This article explores these issues and underscores the role of real estate and mortgage professionals in guiding clients through these turbulent times. The role of real estate and mortgage professionals In times like these, the role of real estate agents , brokerage owners and lenders becomes even more critical.

Pre-qualification

Housing Wire

MAY 12, 2022

Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. Of course you do.

Lending

HomeLight

OCTOBER 22, 2021

It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. So, how much home can you afford?

Pre-qualification

Realty Biz

DECEMBER 10, 2020

Tips For Getting Preapproved For a Mortgage. It is effortless to start looking at homes that you will later find you can’t afford when you try to get approved for a mortgage. However, if you have a mortgage preapproval , you will know where you stand and be in a stronger position when making an offer.

Loans

Realtor.com

NOVEMBER 11, 2022

Real estate agents agree that long before you peruse listings or check out open houses, you should talk to a lender about your credit score, so that you can secure a mortgage. Here are more step-by-step home-buying details, including information about down payments, closing costs, mortgage rates, pre-approved mortgages, and more.

Pre-approval

HomeLight

FEBRUARY 16, 2024

From getting pre-approved for your mortgage to offering flexible closing dates, these strategies are designed to put you in a stronger position. Get pre-approved for your mortgage loan Securing a mortgage pre-approval is perhaps the most important first step in making a compelling offer.

Pre-qualification

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. To get the best rate for your situation, be sure to look closely at each type of mortgage. Let's take a closer look.

Mortgages

RIS Media

OCTOBER 22, 2020

According to a Zillow survey, offers typically fall through because of issues with money, mortgage or financing. Evaluate your current credit situation and make a game plan to clean up your credit score, if needed, prior to starting the pre-approval process.”

Pre-qualification

RIS Media

JANUARY 19, 2021

Before you start looking for your next home, you should get pre-approved for a mortgage. You don’t necessarily have to borrow money to buy a home from the same lender that pre-approved you. What is Pre-approval and Why is It Important? Pre-approval and pre-qualification are not the same thing.

Pre-qualification

Lab Coat Agents

NOVEMBER 20, 2024

As a homebuyer, finding the right mortgage can significantly impact your overall financial health. Among the various financing options available, an assumable mortgage offers a unique solution that could lead to substantial savings. What Is An Assumable Mortgage ? How Do I Qualify for An Assumable Mortgage?

Purchase and sale agreement

Redfin

JULY 31, 2024

Key takeaways Shop around for the best mortgage lender : Compare offers from multiple lenders, including banks, credit unions, and online lenders, to find the best rates and terms for your mortgage. Understand loan options: Learn about different mortgages like conventional, jumbo, and government-backed loans (FHA, VA, USDA).

Pre-approval

RIS Media

SEPTEMBER 21, 2020

Closing : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. Mortgage interest rate : The price of borrowing money.

Pre-approval

Realty Biz

FEBRUARY 7, 2023

Some people will search for mortgage lenders near me if they want their bank to be nearby. Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. For example, do you want a 30-year fixed or adjustable-rate mortgage?

Pre-approval

HomeLight

OCTOBER 5, 2020

A short sale is when a property is sold at less than what’s owed on the remaining mortgage balance. This type of situation usually occurs when the owner is financially distressed and no longer able to make their monthly mortgage payments. You’ll need to get preapproved for a mortgage loan. What’s a short sale?

Short sale

HomeLight

FEBRUARY 12, 2021

Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% of all mortgage originations. As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan.

FHA loan

The Close

MAY 28, 2025

A great mortgage lender provides you with plenty of options, including different types of mortgage loans and products. 620 Conventional loans FHA loans VA loans Jumbo loans Average turn time is 42 days Visit Better Mortgage Conventional: 6.75% FHA: 6.625% VA: 6.5% Bank Conventional: 6.9%

VA loan

HomeLight

DECEMBER 8, 2023

This equity is then used to provide you with the necessary funds to make a down payment and handle closing costs on your new home in Ohio. These loans are generally short-term and, admittedly, can be more costly than traditional mortgages. More on loan costs below.)

Equity

HomeLight

OCTOBER 11, 2021

When it comes to buying and owning a home, whether in real life or as experienced in books, movies, or on TV, we often hear about the process in the context of a mortgage — getting approved for one, having to make those mortgage payments, and so on. But rarely do we hear anyone discussing a deed of trust. What is a deed of trust?

Title

Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Online mortgage calculators can provide a rough estimate, but getting pre-approved by a lender will give you a more accurate figure. What Is a Mortgage Pre-Approval? What Are Closing Costs?

Pre-qualification

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? Adjustable-rate mortgages, or ARM loans, can be a bit trickier.

Mortgages

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

Pre-approval

HomeLight

AUGUST 31, 2020

VA loans also offer even more benefits, like better interest rates and less strident qualifications — but as the name indicates, they are only available to current military members or veterans (or their spouses). Many offer down payment grants, no-down-payment mortgages, and low interest rates. down and a minimum credit score of 580.

Debt-to-income ratio

HomeLight

DECEMBER 30, 2021

When you signed on the dotted line for your 30-year mortgage , it probably felt equal parts daunting and surreal. Taking on a mortgage is no casual agreement — which is why the loan qualification process is so stringent — but you’ll nearly always have options. Why pay off a mortgage early? Hey, you never know!).

Mortgages

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Buyers should arrange financing with a bank or mortgage lender ahead of time. Qualifying for a HUD home.

Pre-approval

HomeLight

JULY 30, 2021

Additionally, a certain amount of the monthly rent is also typically stipulated to help cover the buyer’s closing costs or down payment. For example, monthly rent on the house is $2,000, and the buyer agrees to pay an additional $300 a month, which will go toward closing costs on the purchase.”. And getting a mortgage?

Purchase and sale agreement

Redfin

MARCH 18, 2022

Shopping for and securing an affordable mortgage loan is no easy feat. Often, homebuyers jeopardize potential mortgage deals by rushing the process or neglecting essential steps along the way. And in the end, that means a higher mortgage rate than they can afford or, worse, no loan at all. Should you shop around for a mortgage?

Mortgages

HomeLight

OCTOBER 9, 2023

A buyer could also ask for a closing cost credit, which can offset closing costs.” 4 expert financing and closing tips Tip 17: Get preapproved for a loan McKinney says that no matter how qualified you think you are, making sure you have your preapproval letter is very important. “I

Pre-qualification

HomeLight

AUGUST 31, 2022

With the days of stimulus packages and low mortgage interest rates in the rearview, Americans are steeling themselves for a future with the potential for economic uncertainty. homeowners with mortgages (roughly 62% of all properties) saw their equity increase by a total of more than $3.8 made mortgage and other payments on time and.

Equity

HomeLight

SEPTEMBER 15, 2022

The National Association of Realtors agrees that auctions can accelerate a sale, in addition to offering these key benefits for sellers: Higher visibility among pre-qualified, prepared buyers who are ready to buy. Reduction of long-term carrying costs, such as property taxes and ongoing maintenance.

Pre-qualification

HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Sometimes you’ll even find grants to help you with closing costs and down payments. Sound great? Sure it does! Step 2: Research down payment assistance in your area.

Loans