Redfin

JULY 31, 2025

Check with your state’s housing finance agency for options. Make sure you’re on track with your other financial goals before your first home purchase: pay off any high interest rate debt, clean up your credit, prioritize saving for retirement, and make sure to build up at least 3 months of emergency savings.

Purchase and sale agreement

Marco Santarelli

JULY 2, 2025

Understanding Your Financial Position : Your credit score, income levels, and debt-to-income ratio significantly affect the rates you may be offered. Refinancing allows homeowners to adjust their loan terms, either lowering their monthly payments or accessing equity for renovations or other expenses.

Mortgages

Norada Real Estate

JULY 2, 2025

Understanding Your Financial Position : Your credit score, income levels, and debt-to-income ratio significantly affect the rates you may be offered. Refinancing allows homeowners to adjust their loan terms, either lowering their monthly payments or accessing equity for renovations or other expenses.

Mortgages

Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms.

Debt-to-income ratio

The Close

MAY 6, 2025

As a real estate agent, its important to share with clients the pros, cons, and strategies for renovating or making small improvements to houses. Plus, its one of the only types of home improvement lenders that will finance a variety of property types, including secondary homes and investment properties.

Loans

Marco Santarelli

JUNE 27, 2025

Real Estate Investors: Investors who buy, renovate, and flip properties often use ARMs because they typically have a short investment timeline. Borrowers Expecting Rising Income: As mentioned earlier, if you anticipate a significant increase in income, you may be able to handle potential rate adjustments.

Fixed-rate mortgage

Housing Wire

SEPTEMBER 17, 2024

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The company explained that the product operates as a ”hybrid between debt and equity.” The product includes a 10-year, interest-only repayment term.

Equity

HomeLight

JUNE 30, 2024

Hard money loans offer a flexible financing option outside of traditional banks, perfect for those who need quick cash, have limited savings, or face credit issues. Hard money lenders determine loan amounts based on the after-repair value (ARV) — the estimated value of the property after renovations. How does a hard money loan work?

Hard money loan

HomeLight

SEPTEMBER 17, 2024

Whether you’re flipping a beach bungalow in the Hamptons or investing in a rental near Huntington, hard money lenders on Long Island offer quick, flexible financing options that traditional lenders might not provide. Their clients often include house flippers and those investing in rental properties , needing fast, flexible financing.

Finance

Realtor.com

FEBRUARY 11, 2021

They can also tell you how much of a mortgage you qualify for, which is determined in part by your debt-to-income ratio. If not, you should first spend some time shoring up your finances. Qualifying for financing is a critical part of the home-buying journey. How important is the freedom to renovate?

Closing costs

HomeLight

DECEMBER 5, 2023

Your lender might need to crunch the numbers and calculate your debt-to-income ratio (DTI). To help you understand the financial aspects, check out these handy tools: Calculate your down payment Estimate your closing costs Check your debt-to-income ratio What are the benefits of a bridge loan in Connecticut?

Equity

HomeLight

NOVEMBER 29, 2023

It’s a short-term financing option that helps you purchase a new home in New York before selling your old one, smoothing out the transition and fitting the pieces of your property puzzle together. An important factor in this process is your debt-to-income ratio (DTI). How does a bridge loan work in New York?

Equity

HomeLight

NOVEMBER 29, 2023

A bridge loan is a short-term financing solution designed to bridge the gap, allowing you to purchase your new Hawaiian dream home before you’ve sold your current one. It’s worth noting that bridge loans go by various names, including bridge financing, bridging loans, interim financing, gap financing, and swing loans.

Equity

HomeLight

DECEMBER 6, 2023

Transitioning from one home to another often involves a delicate balance of timing and finances, especially in a market where inventory is scarce and prices are soaring. Enter the bridge loan – a short-term financing option that could be the key to securing your new home before you’ve sold your old one. You’re not alone.

Equity

HomeLight

NOVEMBER 6, 2023

A bridge loan might be the lifeline you need, offering a short-term financing solution that lets you purchase your new home even before you’ve handed over the keys to your old one. Essentially, the bridge loan uses the equity from your existing home to finance the down payment and closing costs of your new property.

Equity

HomeLight

NOVEMBER 29, 2023

In a market with limited inventory and high prices, aligning the timing and finances for both transactions becomes a significant challenge. In assessing your application, lenders will consider your debt-to-income ratio (DTI). However, a strategic alternative could smoothly bridge this gap: a bridge loan.

Equity

HomeLight

SEPTEMBER 27, 2023

This short-term financing (also called a swing or bridging loan) helps homeowners during the transition between properties. Depending on your unique situation, the lender on the new home might need to calculate your debt-to-income ratio (DTI). Learn More What is a bridge loan, in simple words?

Equity

The Close

FEBRUARY 20, 2023

In my 28-year career in real estate and investing, I have had to source hard money financing for everything from simple fix-and-flip properties to multi-million-dollar apartment building rehabs. Let’s start with my top picks for hard money lenders. The good news is that Kiavi specializes in just that: hard money loans for rental properties.

Hard money loan

HomeLight

NOVEMBER 17, 2023

This short-term financing option offers a seamless transition by empowering you to purchase your new Maryland home before selling your old one, ensuring you don’t have to juggle between selling, moving, and buying in a tight timeline. Balancing debt: A key factor in this process is your debt-to-income ratio (DTI).

Equity

HomeLight

SEPTEMBER 25, 2023

In this post, we’ll unpack this financing option and how you can put it to work for you. Also called interim loans or gap financing, most include terms from six months to one year, and are expected to be repaid as soon as you sell your current home. Need to Buy Before You Sell? Bridge loans are short-term, emphasis on “short.”

Equity

HomeLight

NOVEMBER 29, 2023

Tailored as a short-term financing option, a bridge loan empowers you to leap ahead and purchase your new Idaho home before you’ve sold your current one, smoothing out the transition and keeping you on track towards your real estate goals. A crucial factor in this equation is your debt-to-income ratio (DTI).

Equity

Realty Biz

JANUARY 19, 2024

Let's start with some detailed information and actionable tips on financing. From preparing your finances and exploring mortgage options to calculating your budget, these steps set you on the right path toward finding your dream home. Many first-time home buyers have low credit scores and need help with high debt-to-income ratios.

Debt-to-income ratio

HomeLight

MARCH 31, 2023

With low inventory and notoriously high home prices, California homeowners are looking for creative financing solutions to fund their dream home purchases. In this post, we’ll share expert insights on this unique financing solution and how you can put it to work for you. Let’s dive in. What are the drawbacks of a bridge loan?

Equity

Realtor.com

NOVEMBER 28, 2022

They can be used to purchase townhouses as well as single-family homes, fund new construction , or renovate an existing home. Repair/renovation loans and grants. They may also be available to low-income senior citizens who need to upgrade for health or safety reasons. Must be unable to obtain financing from other sources.

Loans

HomeLight

MARCH 30, 2021

And if you have unsteady work (hello, gig workers, permalancers, and contract employees), it’s tougher to predict your finances from one month to the next. You could be racking up finance charges and late fees, and putting yourself further behind. Minimize your debt. I ask my clients to look at their finances.

Debt-to-income ratio

HomeLight

AUGUST 31, 2021

If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan. . The Section 203(k) Loan Program is a Federal Housing Administration (FHA) program that lets you finance both the purchase price of a home and the cost of repairs to the home with a single loan.

Loans

HomeLight

SEPTEMBER 21, 2022

In order for a property to be considered a rental property, the owner will have to have a rental agreement, a deposit, and first month’s rent, in order to obtain financing for the second home that they’re going to live in. “If Sort out the finances. Once your finances are in place, it’s time to get your home in rentable shape.

Debt-to-income ratio

HomeLight

MARCH 11, 2022

Maximum 38% debt-to-income ratio for most buyers. This MassHousing loan allows you to finance a house and renovation costs in one mortgage. The program is nearly the same as the MassHousing Mortgage, but with support for renovations. Assets do not exceed $75,000, not including college and retirement savings.

Closing costs

HomeLight

DECEMBER 30, 2021

A debt-to-income ratio under 43%. Reliable income with proof of employment. The conforming loan limit is set by the Federal Housing Finance Agency (FHFA) and is subject to change each year, and for 2021 the limit has been $548,250. Your debt-to-income ratio cannot exceed 50%. home value.

Loans

HomeLight

JULY 31, 2020

These payments are usually 22% to 26% of an applicant’s total income. An applicant’s debt-to-income ratio cannot exceed 41% , including mortgage payments. A Section 502 direct loan helps low-income families and individuals purchase a home. The funds can be used to build, repair, or renovate an existing dwelling.

Debt-to-income ratio

Realty Biz

FEBRUARY 11, 2022

Be it an unexpected home renovation, college education, or an emergency trip – you can use a personal loan to cover anything. However, if you have low or bad credit and can’t get the financing you need, you can opt for a personal loan for low credit , which is technically a bad credit loan. Debt-To-Income-Ratio.

Loans

C4D Crew

MARCH 8, 2021

If you are considering buying your first home and have no or low credit, you may still be able to procure financing. All borrowers regardless of credit score must have less than a 43% debt-to-income ratio. Federal Home Purchase and Renovation Loans. CHOICE Renovation Loan. HomeStyle Loan.

Loans

Redfin

SEPTEMBER 27, 2021

Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. Keep in mind that you’ll need to account for taxes, insurance, repairs and renovations, along with increased utility expenses. Determine your debt to income ratio (DTI).

Debt-to-income ratio

HomeLight

JUNE 30, 2021

How does it factor into your overall debt-to-income ratio ? These volunteers then elect a residential board of directors to oversee managing the community’s finances, keeping up on maintenance, collecting dues, and enforcing rules. If it’s not, you won’t be able to get financing with that type of financing.”.

Mortgages

Windemere Selling

JUNE 13, 2022

If your finances have improved since you initially secured your mortgage—for example, your debt-to-income ratio has improved, or you’ve bumped up your credit score—you may be able to lock in a better rate with your lender. Refinancing your home could also put cash in your pocket.

Debt-to-income ratio

HomeLight

JUNE 19, 2023

That means you’ll want to hold off on any upgrades or renovations that can’t be taken with you in the event that the deal somehow falls through. Pay down credit card debt (to get your debt-to-income ratio below 43% ). Once you move in, you can basically relax and settle in. Now is the time to implement it.

Purchase and sale agreement

Marco Santarelli

AUGUST 12, 2024

The world of finance is always changing, and one of the significant areas of interest for homeowners is Home Equity Lines of Credit (HELOCs). Usage : HELOCs are commonly used for home renovations, debt consolidation, and major purchases because they provide flexibility regarding withdrawal and repayment.

Debt-to-income ratio