HomeLight

OCTOBER 28, 2024

The software will automatically load listings marked as “Closed” and indicate the selling price. It suggests that you should live in a home for at least five years before selling to build enough equity and offset transaction costs, such as closing fees and real estate commissions. Will your debt-to-income ratio permit a new loan?

Pre-approval

HomeLight

APRIL 9, 2025

A bridge loan might be the solution youre looking for. Buy Before You Sell What is a bridge loan, in simple words? A bridge loan in real estate is a short-term loan that helps you buy a new home while youre in the process of selling your current one. What are the benefits of a bridge loan in Las Vegas?

Equity

HomeLight

APRIL 18, 2025

A bridge loan could be the piece that helps everything come together. This short-term loan is designed to help you buy your next home first, and then sell your current home afterward. In this guide, well break down how bridge loans work in NYC and when it might make sense to use one. How does a bridge loan work in NYC?

Equity

Housing Wire

AUGUST 1, 2025

Matic found that 64% of lenders reported frequent delays or issues due to insurance, which are often tied to debt-to-income ratios or difficulties securing timely coverage. We’re hearing from lenders who are seeing closings fall through or get delayed because of insurance hurdles,” Madick said. “In

Debt-to-income ratio

HomeLight

APRIL 10, 2025

A bridge loan can help you buy a new home before selling your current one. In this post, well break down how bridge loans work in Charleston and share other creative solutions to help you buy before you sell. Buy Before You Sell What is a bridge loan, in simple words? How does a bridge loan work in Charleston?

Equity

HomeLight

JULY 24, 2025

A bridge loan might be just what you need to buy your next home without waiting to sell your current one. In this guide, we’ll walk you through everything you need to know about bridge loans in Sacramento. Buy Before You Sell What is a bridge loan, in simple words? What are the benefits of a bridge loan in Sacramento?

Equity

HomeLight

JULY 28, 2025

A bridge loan could be the solution to help everything fall into place. In this post, we’ll explain everything you need to know about bridge loans in Scottsdale so you can decide the best path forward for your situation. Buy Before You Sell What is a bridge loan, in simple words? What are the drawbacks of a bridge loan?

Equity

HomeLight

JULY 24, 2025

A bridge loan could be the tool you need to help everything fall into place — giving you the flexibility to buy your next home without rushing to sell your current one first. In this guide, we’ll break down everything you need to know about getting a bridge loan in Orlando. Buy Before You Sell What is a bridge loan, in simple words?

Equity

Redfin

JULY 30, 2025

A jumbo loan, or jumbo mortgage, is designed for homebuyers purchasing high-priced properties – whether that’s a luxury home in Charlotte or a condo in a city like San Francisco where home prices exceed standard loan limits. Key takeaways Jumbo loans are mortgages for homes priced above FHFA loan limits.

Loans

HomeLight

JULY 24, 2025

A bridge loan might be just what you need to buy your next home without waiting to sell your current one. In this guide, we’ll walk you through everything you need to know about bridge loans in Sacramento. Buy Before You Sell What is a bridge loan, in simple words? What are the benefits of a bridge loan in Sacramento?

Equity

Redfin

JULY 30, 2025

Which loan is right for you? Conventional loans: You have a credit score of 620+, stable income, and can put at least 3% down. FHA loans: You have a credit score of 580+ (or 500+ with 10% down) and a higher DTI ratio. VA loans: You’re an eligible veteran, active-duty service member, or surviving spouse.

Loans

Marco Santarelli

DECEMBER 21, 2024

As someone who's gone through the mortgage process a few times and kept a close watch on the market, I can tell you it's rarely a simple yes or no. It can be about your financial goals and how a new loan structure can help you reach them. Can you afford the closing costs? Refinancing comes with closing costs.

Debt-to-income ratio

Marco Santarelli

MARCH 4, 2025

There are so many different types of loans, lenders, and economic factors that play a role. This reflects the perceived risk involved in refinancing an existing loan versus originating a new one. It offers a stable, predictable monthly payment over the life of the loan. Why Did Rates Drop (Even Slightly)? ARMs can be risky.

Mortgages

Redfin

JUNE 13, 2025

Step 3: Research second-time homebuyer programs and loans Step 4: Work with an experienced agent Step 5: Make a strong offer as a second-time homebuyer Step 6: Plan your transition Second-time homebuyer FAQs Is it harder to buy a house the second time? Communicate closely with your real estate agent to align timelines and contingencies.

Debt-to-income ratio

The Mortgage Report

JULY 24, 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? Down payment assistance can be a great option.

FHA 203k rehab 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

Marco Santarelli

MAY 3, 2025

This decline offers a potential window of opportunity for both homebuyers and those looking to save money on their existing loans. While it may seem like a small change, every fraction of a percentage point can translate into significant savings over the life of a loan. Lets dive in. Why Are Mortgage Rates Declining?

Debt-to-income ratio

Redfin

JULY 21, 2025

Using Redfin’s mortgage calculator , on an $80k salary with zero current debts, 20% down payment, and a 36% debt-to-income ratio, you’ll be looking at homes valued at $325,000 and below. What’s your debt-to-income ratio? of your loan amount per year. What’s your debt-to-income ratio?

Debt-to-income ratio

Marco Santarelli

APRIL 4, 2025

Heres a breakdown of todays refinance rates: Refinance Type Average Rate Today March Average 30-Year Refinance 6.49% 6.49% 15-Year Refinance 5.80% 5.80% These rates allow homeowners to save considerably through refinancing, particularly if they secure a rate lower than their existing loan. How Does the Fed Rate Affect Mortgage Rates?

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. Stay grounded by focusing on your priorities and budget.

Pre-approval

Redfin

JULY 22, 2025

Using Redfin’s mortgage calculator , on a $200k salary with zero current debts, 20% down payment, and a 36% debt-to-income ratio, you’ll be looking at homes valued at $820,000 and below. What’s your debt-to-income ratio? of your loan amount per year. What’s your debt-to-income ratio?

Debt-to-income ratio

Redfin

JULY 31, 2025

This often leads prospective homebuyers to consider a “down payment loan.” ” But is it really a good option to get a loan for a down payment? While securing a down payment loan isn’t impossible, it’s generally not the most straightforward route, and many mortgage lenders view it with caution.

Loans

Marco Santarelli

JANUARY 2, 2025

This interest is what really inflates the total cost of your loan over time. In the early years of your loan, a bigger chunk of your payment goes towards interest, and less toward the principal. This gives us the total cost (principal plus total interest) of the loan. This is due to the way amortization works. The APR always is.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

When you secure a mortgage loan to purchase a property, your monthly payment involves more than just the principal and interest. It constitutes the initial loan balance you gradually pay off over the loan term. Step 1: Determine Your Loan Amount The first step is to determine the principal amount of your loan.

Debt-to-income ratio

Redfin

JULY 8, 2025

One of the most common surprises for homebuyers is a last-minute credit check before closing. So, when is the last credit check before closing and what does it mean for your loan? Lenders usually perform a final soft credit check 1 to 3 days before closing to confirm your financial status hasn’t changed.

Debt-to-income ratio

Marco Santarelli

MAY 27, 2025

Finding the best rate can save you thousands over the life of your loan, so let's dive into what's driving these differences across states and how you can snag the best deal. Average Loan Size: The size of the average mortgage in a state can also play a role. Don't Fall for Teaser Rates It's crucial to be aware of “teaser rates.”

Mortgages

Redfin

JULY 18, 2025

Using Redfin’s mortgage calculator , on a $50k salary with zero current debts, 20% down payment, and a 36% debt-to-income ratio, you’ll be looking at homes valued at $205,000 and below. What’s your debt-to-income ratio? of your loan annually. What’s your debt-to-income ratio?

Debt-to-income ratio

The Mortgage Report

JULY 11, 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? The sky is not falling.

FHA 203k rehab loan

The Close

JULY 1, 2025

However, some will struggle with getting approved for a loan, which is something that could result in the transaction falling through for you as a real estate agent. That’s where FHA loans can save the day for everyone. This makes it possible for buyers who might not qualify for traditional loans to still secure financing.

FHA loan

The Mortgage Report

JULY 14, 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? Check options to remove a name from your mortgage.

FHA 203k rehab loan

Marco Santarelli

DECEMBER 22, 2024

Fixed-Rate Mortgages: These loans offer stability by locking in the interest rate for the entire duration of the mortgage (typically 15-30 years). Over the life of the loan, you would pay about $394,752 in interestjust for borrowing the money! Debt-to-Income Ratio: Lenders prefer lower debt-to-income (DTI) ratios.

Mortgages

Marco Santarelli

MAY 24, 2025

Here's a snapshot of the national averages for various mortgage types, as per Zillow: Loan Type New Purchase Rate Daily Change 30-Year Fixed 7.15% +0.04 Other common mortgage types, like the 15-year fixed and jumbo loans, have also seen upward movement. Last fall's low of 6.24% for jumbo loans illustrates the recent fluctuations.

Mortgages

Redfin

JULY 25, 2025

This assumes average interest rates, a standard loan term, and a modest down payment. Your actual income needs may vary based on your debt, credit score, and monthly expenses. What is the income needed for a $700k house? 36% rule: Your total monthly debt (housing + credit cards, auto loans, student loans, etc.)

Debt-to-income ratio

Redfin

JULY 30, 2025

Key takeaways: First-time homebuyer: Anyone who hasn’t owned a primary residence in the past three years Common first-time homebuyer qualifications: Credit score, debt-to-income ratio, down payment, income limits, employment history, purchase limits, homebuyer education Buying your first home? Let’s get started.

Debt-to-income ratio

Redfin

JULY 24, 2025

According to Redfin Real Estate, the minimum down payment for first-time homebuyers varies depending on the type of loan. Many loans offer down payments as low as 3% or even 0%. Here’s a quick breakdown: FHA loans, for example, typically require 3.5% VA and USDA loans may offer 0% down for eligible borrowers.

FHA loan

Norada Real Estate

JUNE 8, 2025

As of today, June 8, 2025, mortgage rates for various home loan types show varying trends. However, potential refinancers must weigh the benefits of lower rates against closing costs and any potential changes in loan terms. The refinance rates have softened overall but still remain higher than many borrowers would prefer.

Debt-to-income ratio

Redfin

JULY 23, 2025

In addition to repaying the principal amount of the loan, the monthly mortgage payment includes additional costs that can vary based on location and mortgage type. How loan type affects your mortgage payment There are multiple loan types to choose from, and each one uniquely impacts your monthly mortgage payment and interest paid over time.

Mortgages