The Mortgage Report

JULY 11, 2025

I think in some cities, like Phoenix, we are starting to see a little bit of foreclosure or short sale happening. Homeownership is probably the key foundational building block for creating wealth in our country, because of the tax code, because of principal reduction, because of relatively inexpensive, fixed mortgages.

FHA 203k rehab loan

Marco Santarelli

APRIL 27, 2025

Skip the Mortgage Hassle (and Cost): No loan applications, no mountains of paperwork, no qualifying, and no monthly principal and interest payments stretching out for decades. Plus, you avoid appraisal fees, loan origination fees, and other costs tied to getting a mortgage. This is your chance to potentially snag a better deal.

Finance

HomeLight

MAY 27, 2021

Average closing costs in 2020 were $6,087, including prepaid taxes, according to ClosingCorp data. These costs vary widely by state, and you may be able to roll the closing costs into the loan — although that means paying interest on the closing cost amount for the life of the mortgage.

Loans

HomeLight

JULY 25, 2022

Here are some of the common concerns you may face: Cost of mortgage interest: At the beginning of your loan, a bigger percentage of your mortgage payment goes toward interest. Closing costs that add up: You paid these when you closed on this home, but you’ll probably have to pay them again if you sell it and buy another home.

Closing costs

HomeLight

JULY 25, 2022

Here are a few of the details: Length of time: You must have used the home you are selling as your principal residence for at least two of the five years prior to the date of sale. It also does not have to be the two years immediately preceding the sale. How much does it cost to sell my home? of the loan amount.

Closing costs

HomeLight

DECEMBER 1, 2021

A refinance loan comes at a cost, though. Closing costs generally run 1% to 1.5% of the loan amount, although no closing cost options exist (that is, they’ll be lumped in with your principal or you’ll pay a higher rate). Short sale: selling when you owe more than your home is worth.

Purchase and sale agreement

HomeLight

OCTOBER 30, 2020

Look at your most recent foreclosure communications from the bank to determine what’s owed, including all outstanding principal and interest, and subtract it from your estimated sale price. It costs money to sell a house. You’ll only need to offer a steep discount to speed up the sale if you’ve waited too long to list.

Short sale