HomeLight

DECEMBER 28, 2023

Whether it’s to buy a house with a lower interest rate or to purchase a property from a family member, more home shoppers today are asking: Can I take over mortgage payments?” However, the concept of taking over mortgage payments on an existing home is often misunderstood. Get Started What does it mean to take over mortgage payments?

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HomeLight

NOVEMBER 1, 2021

If you’re selling your Kentucky home, you may be wondering how much you’ll make on the sale, what required costs will eat into your profit, and where you can cut costs. This means understanding which fees you’ll be responsible for when the sale closes. What are closing costs? Closing cost.

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Realtor.com

NOVEMBER 9, 2022

When you sell your home, the buyers have to get their own mortgage and you pay yours off in full with proceeds from the sale. Here are the ways you can transfer a mortgage, and why you might want to consider it. What kinds of mortgage transfers are possible? Reasons to make a mortgage transfer.

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Point2Homes

DECEMBER 15, 2021

There are many types of mortgages for homebuyers to consider in the U.S. Assumable mortgages aren’t as common as others, but they can offer a wealth of benefits in the right circumstances. What Is an Assumable Mortgage? How Does an Assumable Mortgage Work? Are All Mortgage Types Assumable? Let’s find out more.

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Real Trends

SEPTEMBER 15, 2023

Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!) FHA mortgage programs The Federal Housing Administration (FHA) provides easy-to-qualify government insured loans. These loans have lower down payment requirements and more forgiving credit requirements. . -30%

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Realtor.com

NOVEMBER 10, 2022

The Federal Reserve’s latest interest rate hike of 0.75% is expected to push up mortgage rates that had already reached a 20-year high, putting further pressure on a stressed market. Chances are, many of your potential homebuyers are struggling to balance their home goals with the reality of ballooning mortgage rates.

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Marco Santarelli

APRIL 24, 2024

Mortgage rates , a crucial factor impacting your monthly payments, can add another layer of complexity. This year, rates have been on an upward climb, exceeding 7% for a 30-year fixed mortgage. In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers. So, what's the smart move?

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RIS Media

AUGUST 10, 2021

Rocket Mortgage announced a full suite of programs to help Detroit residents who are interested in buying a home in the city, regardless of where they are on their home-buying journey. “Detroit has been home to Rocket Mortgage for more than a decade. “Detroit has been home to Rocket Mortgage for more than a decade.

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Realty Biz

FEBRUARY 1, 2024

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. Typical uses include closing costs, prepaid items, and even repairs or upgrades to the property.

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HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. VA-backed mortgage as marketing. Check your equity to get started.

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Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting.

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Realtor.com

DECEMBER 14, 2022

Getty Images / Realtor.com When it comes to making the largest purchase of their lives, most homebuyers would prefer to play it safe in choosing a loan. That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting.

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HomeLight

OCTOBER 22, 2021

There are a host of other costs that come with homeownership, and knowing how much you’ll really end up paying can feel like guesswork. It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. PMI protects the lender in case you stop making payments on your loan.

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HomeLight

MAY 8, 2024

As is” is a type of home sale where it’s understood that no improvements will be made to the property. An as-is sale may also indicate that the functionality and longevity of specific home components, such as the water heater or the roof, are in less than perfect condition and may need considerable repair.

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Realtor.com

JANUARY 25, 2022

Few pay for a house in full—that’s what mortgages are for! That said, “first-time buyers don’t have profits from the sale of a home to parlay into a new down payment, so they’re usually starting from square one.” VA loans : Backed by the U.S. How much do you need for a down payment?

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HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. It offsets the amount you need to borrow for a mortgage. Or, you can choose not to increase your purchase price and simply enjoy cheaper mortgage payments. Mortgage insurance. USDA loans.

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Realty Biz

MARCH 22, 2022

The partial truth is that buyers who take out a conventional loan can avoid paying private mortgage insurance by making a 20% down payment. But the bigger fact is that almost everyone (including those taking out a conventional loan) qualifies for a mortgage with much less than a 20% down payment. That is true.

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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. Source: (LinkedIn Sales Solutions / Unsplash). Sound great? Sure it does!

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HomeLight

APRIL 13, 2023

However, there’s another set of fees and charges you must be prepared for, and those are closing costs. According to ClosingCorp, which provides real estate closing cost data for the mortgage industry, closing costs in Florida, including transfer taxes, average 2.3% of the sales price.

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Realty Biz

JULY 11, 2022

For instance, along with the down payment, an agent can help you understand how much money you’ll need for closing costs. As an example, you’ll probably pay for the appraisal as a closing cost. But even before closing, you’ll need to pay for a professional inspection out of your pocket. Review seller disclosures.

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HomeLight

AUGUST 26, 2020

Picture this: You’ve been in your home for a few months, and lately, it seems like you’re getting more and more junk mail encouraging you to refinance your mortgage. The main reason to refinance your mortgage. Converting an adjustable-rate mortgage to a fixed-rate mortgage. Pay off your mortgage faster.

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! Paying mortgage insurance isn’t that big a deal.

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HomeLight

JANUARY 22, 2024

This oftentimes will have to do with unique circumstances that don’t really lend themselves to renovating a property for sale. Sell 'As Is' With a Cash Offer in Virginia HomeLight’s Simple Sale platform will provide a no-obligation, all-cash offer for Virginia homes in almost any condition. Which types of homes are sold ‘as is’?

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HomeLight

FEBRUARY 12, 2021

Department of Housing and Urban Development (HUD) created the Federal Housing Administration (FHA) loan program in 1934 to help more Americans afford houses with government insured home loans that are easier to qualify for than most conventional loans. of all mortgage originations. down payment.

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HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. Buyers should arrange financing with a bank or mortgage lender ahead of time. Source: ( Matthew Henry / Burst ).

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HomeLight

AUGUST 16, 2021

Some savings you can use toward a down payment and closing costs? Are you prepared for the responsibilities of home maintenance, mortgage payments, and everything else that comes along with homeownership? The higher your score, the more likely you’ll be approved for a mortgage, and the better rate you’ll be offered.

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Redfin

JUNE 29, 2023

Michigan housing market insights The housing market in Michigan continues to show increased median sale prices. As of recent data, the median sale price stands at $252,200, reflecting a 1.6% Additionally, the number of homes available for sale has declined, down 8.3% year-over-year increase. year-over-year.

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HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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HomeLight

DECEMBER 31, 2023

Fast facts about selling a house ‘as is’ in Arizona Median sales price in Arizona $430,990 Average days on market (DOM) for Arizona 56 Disclosures Arizona law requires sellers to disclose material facts about the property through the Residential Seller’s Property Disclosure Statement (SPDS) MLS has a field to mark a listing “as is”?

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Redfin

FEBRUARY 11, 2021

If you’re a first-time homebuyer you’ve surely been putting pencil to paper to estimate what your future mortgage payment, taxes, insurance, and maintenance will be on a new home. However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI).

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HomeLight

OCTOBER 1, 2020

What does clear to close mean? Clear to close is more straightforward than you’d think. Once you’ve signed all your documents and “closed” your mortgage, the lender will pay the seller and all parties and you get the keys to your house.”. Any and all conditions and contingencies of the loan. Closing date.

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Norada Real Estate

JUNE 22, 2022

Among them, non-recourse loans, hard money loans, and private loans are the most popular. In a conventional mortgage, the down payment is the smallest and the rate of interest is also lower. In the case of a Non-Recourse Loan, the investor puts an asset forward. As a cash buyer, you can also save on closing costs.

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HomeLight

OCTOBER 29, 2021

The average time to close a loan was 48 days in July 2021 , according to ICE Mortgage Technology, a company that produces mortgage management technology. In January 2021, the average time to close was 58 days. It’s essential to stay on top of events leading up to the closing.

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Redfin

MAY 2, 2023

However, the recent increase in mortgage rates has resulted in a slowdown in competition, leading to a 4% drop in the median sale price to $558,300 compared to the previous year. If you find yourself attached to two different cities, using tools like a cost of living calculator will help you stay on budget. #1:

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HomeLight

AUGUST 31, 2021

Monthly mortgage payments offer built-in savings through equity gains. You’ll want to be sure you’ve kept the home long enough to recoup your transaction costs — real estate agent fees, closing costs, and any repairs or maintenance done to the home to prepare for sale. Then identify your priorities.

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Redfin

MAY 16, 2023

The median sale price in Maryland is currently $379,000, which is lower than the national median sale price of $400,400. And if you need help choosing between two equally appealing options, you can use tools like a cost of living calculator to help find the perfect city that fits your budget. #1:

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Windemere Buying

NOVEMBER 11, 2020

VA loans provide a path toward homeownership for active service and veteran personnel and their families. The following serves as a guide to understanding what they are, who they are available to, and what types of loans are available to them. What Are VA Loans? How Do VA Loans work?

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