The Mortgage Report

JULY 22, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Things to consider: You’ll need to qualify for the loan on your own — your credit, income, and debt-to-income ratio all matter.

FHA 203k rehab loan

Redfin

JULY 30, 2025

This way, you’ll have a chance to build equity. The longer you own your home, the more equity you’ll build, leading to greater financial return when you decide to sell your home. >> Lower your debt-to-income ratio: Paying down existing debt can improve your financial profile, helping you qualify for lower interest rates.

Pre-approval

Redfin

JULY 14, 2025

Debt-to-income ratio (DTI) Your debt-to-income ratio (DTI) compares your monthly debt payments, including student loans, car payments, and more, to your gross monthly income. Get pre-approved early: Pre-approval gives you a clear budget and shows sellers you’re a serious buyer.

Debt-to-income ratio

Redfin

JULY 31, 2025

If you’re unsure where to start, check with HUD-approved counseling agencies, non-profit organizations, and local housing authorities to find available courses. Think about resale value and the potential to build equity Your first home is a step toward long-term financial growth. Also keep an eye on equity potential.

Purchase and sale agreement

Redfin

JULY 7, 2025

Get clear pre-approval: Make sure your mortgage pre-approval reflects your current debts, legal obligations, and post-divorce income so you know what you can truly afford. Potential investment benefits: If the market is strong, buying now could help build equity sooner rather than waiting.

Debt-to-income ratio

Marco Santarelli

MARCH 20, 2025

15-Year Fixed: If you're looking to build equity faster and save on interest , a 15-year fixed mortgage is a solid option. Debt-to-Income Ratio (DTI): Lenders assess your DTI to determine your ability to manage your debt obligations. However, remember that you'll pay more interest over the long haul.

Mortgages

Redfin

JULY 3, 2025

Some lenders may require a finalized divorce decree before approving a mortgage, as this document outlines debt and asset division, alimony, and more. These details directly impact your debt-to-income ratio , how much you afford and borrow. If you’re the one making those payments, they count as debt.

Debt-to-income ratio

The Mortgage Report

JULY 16, 2025

Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? Lender approval is required, and qualifying alone can be tough without solid income and credit. How Much Home Can I Afford?

FHA 203k rehab loan

Marco Santarelli

MAY 9, 2025

Personal Financial Profile : Your credit score, debt-to-income ratio, and the size of your down payment also influence your individual mortgage rate. Understanding this schedule can provide valuable insight into how quickly youre building equity in your home. For example, consider a $300,000 mortgage at a 6.5%

Mortgages

Marco Santarelli

MAY 9, 2025

Personal Financial Profile : Your credit score, debt-to-income ratio, and the size of your down payment also influence your individual mortgage rate. Understanding this schedule can provide valuable insight into how quickly youre building equity in your home. For example, consider a $300,000 mortgage at a 6.5%

Mortgages

Housing Wire

MAY 4, 2022

Mortgage credit availability remains tighter than it was pre-pandemic. Additionally, the median credit score of borrowers approved for mortgages reached 778 in the fourth quarter of 2021, which is higher than during the previous housing boom.

Debt-to-income ratio

Housing Wire

AUGUST 23, 2023

The business combination closing, announced Wednesday, unlocks approximately $565 million of fresh capital, including a $528 million convertible note previously committed from affiliates of SoftBank and additional common equity from funds affiliated with NaMa Capital (formerly Novator Capital). What happened, from your standpoint?

Debt-to-income ratio

HomeLight

DECEMBER 8, 2023

Discover the Innovative Way to Buy Your Next Home Before Selling Your Current Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Think of it as a temporary loan that taps into the equity of your existing home. When is a bridge loan a good solution?

Equity

BAM Media

JULY 2, 2024

I’m not a big fan of asking, “ Hey, are you pre-approved ? Instead, ask, “What money do you have allotted to put towards the home purchase?” Then the next question is— “Have you spoken to anybody about the financing?” Not “Are you pre-approved?” Most of our clients like a free home equity review.

Pre-approval

Realty Biz

SEPTEMBER 30, 2023

They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval. Tougher loan approval: Lenders may be hesitant to approve a mortgage application from someone with a low credit score. This adds an additional cost to your monthly payments.

Finance

HomeLight

AUGUST 31, 2021

Does the idea of buying a fixer-upper and quickly gaining thousands of dollars in equity by making minor cosmetic repairs appeal to you? A 203(k) loan can be an excellent way to gain large amounts of equity soon after buying the home. And that difference of $25,000 is equity in the home that now belongs to the new buyer.

Loans

Marco Santarelli

MARCH 3, 2025

The rate you actually receive will depend on several factors, including your credit score, down payment, debt-to-income ratio, and the specific lender you choose. Heres a breakdown to help you decide: Buying a Home: Pros: Owning a home builds equity over time. Monthly Payment Examples: How Much Will You Pay?

Mortgages

Redfin

JULY 11, 2023

Once the borrower’s equity reaches 20%, PMI can be canceled. How does the mortgage pre-approval process work? Mortgage pre-approval is a crucial step in the homebuying process. Pre-approval provides a clear understanding of your budget and helps you focus your search on affordable homes.

Pre-approval

Redfin

AUGUST 12, 2024

Income stability : Lenders prefer borrowers with a stable income and employment history. Documenting at least two years of consistent income can be crucial. Debt-to-income ratio (DTI) : This ratio compares your monthly debt payments to your monthly gross income.

Loans

Redfin

AUGUST 29, 2024

Homeownership is a long-term investment, and staying in one place allows you to build equity and stability. Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI).

Earnest money deposit

HomeLight

MAY 31, 2021

One of the first things you’ll want to know is just how much house you can afford , which is based on your income, credit score, debt-to-income ratio (DTI), and savings amount (including your down payment). I had some clients a few years ago that had trouble qualifying because they had a lot of debt.

Mortgages

Redfin

MAY 3, 2023

Get pre-approved and secure your dream home Work with a lender to find the right loan for the home you love. Get pre-approved How does mortgage insurance work? With borrower-paid PMI, you pay BPMI every month until you have 20% equity in your home (based on the original purchase price). 5% to the interest rate.

Mortgages

HomeLight

NOVEMBER 13, 2024

You can actually secure a price and then buy the home a year, or two years, or even three years later, and the equity that is accumulated over those several years is something the buyer could benefit without actually having ownership of the property,” he says. While you rent, you can focus on paying down your debt.

Purchase and sale agreement

Marco Santarelli

OCTOBER 6, 2023

Some lenders may require higher scores, especially for borrowers with other risk factors, such as a high debt-to-income ratio or a short credit history. Less Equity in Your Home: Without a down payment, you'll have less equity in your home initially. It's important to note that these are just minimum credit scores.

VA loan

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. – Robert Cenzer | Redfin Agent Don’t jump in and start house hunting until you have been pre-approved by your local bank or lender.

Pre-approval

HomeLight

OCTOBER 29, 2021

There are plenty of mortgage loan calculators to be found online, and generally speaking, lenders don’t want to see your total debt, including your mortgage payment, exceed 45% of your income; some borrowers can go up to 50%. This is known as your debt-to-income ratio (DTI).

Inspection

HomeLight

MAY 26, 2021

You can purchase or sell shares at any price in the market, and you build equity (or make money off a sale) just like a normal transaction with a condo or single-family home. Limited-equity: This is another popular type of co-op, and it’s geared for affordable living. alongside your agent. alongside your agent. Co-op application.

Purchase and sale agreement

HomeLight

MARCH 28, 2022

According to the National Association of Realtors®, homeowners usually stay in their homes for 13 years , which is plenty of time to build equity before selling. It’s likely cheaper than renting, even if you’re not staying long enough to build much equity. If it’s not in your equity, the money has to come from your personal finances.”.

VA loan

HomeLight

JUNE 30, 2021

Often, repeat buyers are able to put 20% down or more, typically because they are moving the equity gained in their existing home they are selling to the new home they are buying,” explains Cornelius. Instead, you can buy a home and use cash reserves to start building equity sooner. For first-time buyers, this number was only 7%.

VA loan

The Close

DECEMBER 29, 2022

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Debt-to-income ratio (DTI).

Purchase and sale agreement

Marco Santarelli

FEBRUARY 22, 2025

Here's What Today's Rates Mean for You Refinancing can be a smart move for homeowners looking to lower their monthly payments, shorten their loan term, or even tap into their home equity. And, because you're spreading payments out over a longer time, you'll build equity in your home more slowly initially. Dont delay in taking action!

Mortgages