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? Verify your home buying eligibility.

FHA 203k rehab loan

Redfin

AUGUST 1, 2025

A 600 credit score is less than ideal, but will it shut you out of the housing market entirely? Let’s explore whether you can buy a house with that score and what loan options may be available. In the table below, we’ll break down some of the most common types of loans and the credit scores you’ll need to qualify.

VA loan

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

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? Time to make a move?

FHA 203k rehab loan

Redfin

JUNE 27, 2025

Options like FHA loans , VA loans , and USDA loans offer low down payments and more lenient credit guidelines. Here’s what to do instead: Ask your lender about any government-backed loan programs you might qualify for. Holding out for your dream home It’s easy to picture your dream home.

Pre-approval

Marco Santarelli

MAY 9, 2025

So many people I know have tens of thousands, even hundreds of thousands, of dollars in student loan debt. This makes it harder to save for a down payment and can also affect your ability to qualify for a mortgage because it increases your debt-to-income ratio. Is It a Buyers or Sellers Market?

Debt-to-income ratio

The Mortgage Report

JULY 22, 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?

FHA 203k rehab loan

Redfin

JULY 23, 2025

$500,000 might sound like a lot, but in today’s housing market, it may not stretch as far as you’d think. 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. down or VA/USDA loans with 0% down for eligible buyers.

Mortgages

Marco Santarelli

JULY 11, 2025

Stable Housing Markets: Perceived stability in the housing market makes lenders feel more secure. It has a huge real estate market and stiff competition among mortgage lenders. This includes credit score, income, debt-to-income ratio, down payment, and the type of loan you choose.

Mortgages

Marco Santarelli

MAY 14, 2025

This can influence the rates they're willing to offer in different markets. The Cheapest States Right Now (May 14, 2025) Let's break down the states where you might find the most favorable mortgage rates today: New York: Known for its vibrant real estate market, New York consistently offers competitive mortgage rates.

Mortgages

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? What’s your debt-to-income ratio?

Debt-to-income ratio

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? What’s your debt-to-income ratio?

Debt-to-income ratio

Redfin

MARCH 3, 2025

No matter the state of the housing market , buying a house is an expensive endeavor. FHA loans require as little as 3.5% down, and VA or USDA loans may allow 0% down for eligible buyers. A larger down payment means lower monthly payments and saves thousands in interest over the life of the loan.

Mortgages

Marco Santarelli

MAY 2, 2025

If you're in the market for a home, you're probably glued to mortgage rates! If they perceive a higher level of risk in a particular state (maybe due to economic factors or housing market volatility), they might adjust rates accordingly. These nine states showed average mortgage rates hovering between 6.68% and 6.85%.

Mortgages

Redfin

JULY 31, 2025

Loan types for first-time homebuyers include: Conventional Loan: Offers flexible down payment options as low as 3% with private mortgage insurance (PMI). These require a higher credit score and must fall within conforming loan limits. FHA Loan: Designed for buyers with lower credit scores. These require just 3.5%

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

However, fees for the loans can be higher than a bank and it’s likely that your loan will be sold on the secondary market after closing. You have no control over who you loan gets sold to. Did you know if you file a Chapter 13 bankruptcy, you can immediately apply for an FHA loan? Happy house hunting!

Finance

Redfin

JULY 16, 2025

Key factors that affect how much house you can afford The income needed for a $300k mortgage depends on several personal and market-related factors. Down payment A larger down payment reduces the loan size and monthly payment and helps you avoid PMI if you hit the 20% threshold. Here are the most important: 1.

Debt-to-income ratio

Redfin

JULY 30, 2025

On top of that, it’s also smart to check your local housing market trends and mortgage interest rates. It’s important to note, however, that your credit score influences your interest rate and loan options. Here’s what you need to know about each: Fixed-rate mortgage : The interest rate remains constant throughout the entire loan term.

Pre-approval

Redfin

JULY 28, 2025

Low income is generally defined as being below a specific threshold of the area’s median income (AMI), which can vary by location and employment. Each loan option we’ll discuss has qualification requirements for AMI, as well as other factors like credit score and debt-to-income ratio (DTI).

VA loan

Marco Santarelli

JUNE 3, 2025

State-Level Factors: States have different economic conditions, regulations, and housing market dynamics. Factors like average credit scores, loan sizes, and foreclosure rates can all affect the rates lenders offer in a particular state. You might be wondering what causes such significant variations in rates across different states.

Mortgages

Redfin

JUNE 27, 2025

Government-backed loans Federal loan programs like FHA, VA, and USDA loans make it easier to qualify for a mortgage with a low down payment or less-than-perfect credit. This is especially helpful for buyers who do not meet conventional loan requirements. Let’s break it down: FHA loans require as little as 3.5%

Debt-to-income ratio

Marco Santarelli

MAY 6, 2025

Here's a quick look at the national averages for different loan types: Loan Type New Purchase Rate 30-Year Fixed 7.00% FHA 30-Year Fixed 7.45% 15-Year Fixed 6.03% Jumbo 30-Year Fixed 6.95% 5/6 ARM 7.24% Source: Zillow It's worth noting that these are just averages. What's Driving Mortgage Rate Fluctuations?

Mortgages

Marco Santarelli

MAY 22, 2025

Some might be more aggressive in certain markets than others. This could be due to a combination of factors like strong competition among lenders, favorable state regulations, or a relatively healthy housing market. The article mentions a jump in rates driven by a bond market surge in response to President Trump's proposed tax bill.

Mortgages

The Mortgage Report

JULY 16, 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? So, why not just refinance?

FHA 203k rehab loan

Marco Santarelli

MARCH 10, 2025

Its essential to have an updated view of the market before making any home buying or refinancing decisions. Heres a detailed overview of the current mortgage rates: Loan Type Current Rate (%) 30-year Fixed 6.31 FHA Loans 30-year 6.01 FHA Loans 30-year 6.01 FHA Loans 30-year 6.01 5/1 ARM 6.03

Debt-to-income ratio

Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. mortgage market in 2023, up from 14.3% of the U.S. in 2022, according to HUD.

FHA loan

Housing Wire

MAY 24, 2024

Student loan debt may affect your home-buying goals in a few key ways. Debt-to-income ratio (DTI) Lenders calculate your DTI ratio by dividing your total monthly debt payments (including student loans) by your gross monthly income to assess your ability to handle additional debt, like a mortgage.

Debt-to-income ratio

Housing Wire

JUNE 4, 2021

In this market where homes are selling like hot potatoes, it might seem like everyone can afford to buy a house, but that’s not true. And it doesn’t help that we’re living in a seller’s market where prices keep going up. A homebuyer’s guide to a competitive housing market. with an FHA loan. Absolutely not.

Debt-to-income ratio

Housing Wire

APRIL 4, 2022

Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. Alternatively, the builder can offer a 1 ppts.

Debt-to-income ratio

Realtor.com

NOVEMBER 28, 2022

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan. A maximum debt-to-income ratio of 43%.

FHA loan

HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

FHA loan

Realty Biz

MARCH 16, 2023

If qualifying for a conventional loan is difficult, and you aren't eligible for VA or USDA loans, an FHA loan could be the answer. FHA loans allow you to pay 3.5% But there are also downsides to FHA-insured loans. So is this type of loan right for you? What are FHA Loans?

FHA loan

HomeLight

AUGUST 31, 2021

The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. In 2020, only about 10% of all home loans were FHA-backed, according to the agency’s annual report. But more than 80% of those FHA borrowers were first-time homebuyers.

FHA loan

HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

FHA loan

Realty Biz

APRIL 5, 2022

One of the frequently asked questions during today’s booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. VA loans do not require any down payment. ?

Bankruptcy

HomeLight

JUNE 16, 2023

If you’re selling to a buyer backed by an FHA loan , your home must clear an FHA appraisal for the loan to close. The FHA appraisal determines a property’s market value and ensures that the property meets the U.S. By contrast, most conventional loans require a credit score of 620 or above.

FHA loan