HomeLight

OCTOBER 15, 2020

We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? A conventional loan is a private mortgage that’s not backed by the federal government (we’ll get to government loans in a bit).

Loans 93

Loans FHA loan Debt-to-income ratio VA loan 93

Realtor.com

FEBRUARY 2, 2022

And older boomers (aged 66 to 74) scooped up an additional 14% of the market during the same period, according to a recent report from the National Association of Realtors®. Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. Get creative with your mortgage.

Debt-to-income ratio 100

Debt-to-income ratio Mortgages Fixed-rate mortgage Lending 100

Realty Biz

MARCH 15, 2023

With changes in the housing market, you might question whether it is a good time to buy a house. What happens in the housing market is important, but your financial situation and whether you are ready to buy a home should be more influential in your decision. Don't assume the national headlines apply to your local market.

Debt-to-income ratio 112

Debt-to-income ratio Fixed-rate mortgage Mortgages Loans 112

Marco Santarelli

APRIL 26, 2023

The housing market is an ever-changing landscape, with various factors influencing its trends and movements. One of the most significant factors impacting the housing market is interest rates. Housing market interest rates (or mortgage rates) play a crucial role in the decision-making process for both homebuyers and sellers.

Marketing 52

Marketing Debt-to-income ratio Fixed-rate mortgage Banks 52

Realty Biz

SEPTEMBER 30, 2023

Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Realty Biz

JUNE 15, 2022

A fixed-rate mortgage is stable for 15 to 30 years, but rents may increase on average as much as 5% per year. . Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan.

Debt-to-income ratio 97

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 97

Housing Wire

SEPTEMBER 27, 2023

And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday. “These trends are likely to continue given further increases in interest rates in 2023.” in 2022, up from 8.3%

Debt-to-income ratio 376

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 376

Windemere Selling

JUNE 13, 2022

Each route has its respective advantages depending on your financial health, the mortgage rate market , and the future needs of your household. Refinancing vs. Selling When working to ease the financial burden of your existing mortgage, you have two options: refinance or sell.

Debt-to-income ratio 52

Debt-to-income ratio Fixed-rate mortgage Loans Principal 52

Marco Santarelli

OCTOBER 15, 2023

If you are thinking of buying a home or refinancing your existing mortgage, you might be wondering why mortgage rates are so high in 2023. Mortgage rates have been climbing steadily since December 2021, when they hit a record low of 2.97%. Why are Mortgage Rates Going Up in 2023?

Mortgages 52

Mortgages Debt-to-income ratio Fixed-rate mortgage Loans 52

Redfin

JULY 11, 2023

Whether you’re a first-time homebuyer in Los Angeles or you’re considering refinancing your home in Tampa , this guide is tailored to equip you with the knowledge and understanding necessary to navigate the mortgage process effectively. What is a mortgage? How does a mortgage work? What is PMI, and when is it required?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

HomeLight

JUNE 16, 2023

The average American household credit card debt is $5,315 , the average student loan debt is almost $39,000 , and the average car loan for a new vehicle is around $44,140. If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances.

Fixed-rate mortgage 59

Fixed-rate mortgage Equity Debt-to-income ratio Loans 59

Point2Homes

NOVEMBER 8, 2020

As tempting as the current low rates are, it’s best to start off by asking yourself how refinancing your mortgage will benefit you. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage? Perhaps you’re looking for a lower interest rate, or to turn your 30-year loan into a 15-year one.

Debt-to-income ratio 75

Debt-to-income ratio Mortgages Fixed-rate mortgage Closing costs 75

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans.

Closing 352

Closing Fixed-rate mortgage Debt-to-income ratio Lending 352

HomeLight

MARCH 11, 2022

For buyers, that’s not always good news: Massachusetts’ popularity means the state has a competitive housing market. Both Boston and Cambridge host strong, stable housing markets, and you’ll pay top dollar to live in either city. At the same time, buyers should be thoughtful about this state’s rural housing market.

Closing costs 90

Closing costs Debt-to-income ratio Fixed-rate mortgage Loans 90

Redfin

FEBRUARY 11, 2021

When you apply for a mortgage , your lender may ask if you’re going to put up 20% of the home’s sale price as a down payment. Depending on your local housing market , this can be a significant amount that not every homebuyer can afford. and 1% of your annual mortgage and is added to your monthly payment. 2) Piggyback the loan.

Debt-to-income ratio 63

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 63

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. 4 Loan Questions Worth Asking. Annual percentage rate (APR).

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

AUGUST 28, 2020

We spoke to John Boyles, HomeLight’s Head of Capital Markets, to walk us through the basics of mortgage rates, so you can make an informed decision when it comes to your home purchase. Let’s break this mortgage rate thing down, once and for all. Who sets mortgage interest rates?

Mortgages 79

Mortgages Loans Fixed-rate mortgage Principal 79

Real Estate Finance HQ

AUGUST 25, 2017

This guide outlines the types of, as well as the necessary qualifications for, FHA loans. What is a FHA Loan? The FHA, a unit of the Department of Housing and Urban Development, was created in 1934 specifically to help low- and moderate-income families obtain financing for home ownership. Housing Ratio. Interest Rates.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

HomeLight

NOVEMBER 29, 2021

Unfortunately, a tight real estate market with little inventory can make it challenging to find a house that fits your budget. In today’s market, it’s not uncommon for sellers to get multiple offers, which can result in a bidding war,” he explains. “A Source: (Joey Pedras / Unsplash). What determines home prices? Homeowners taxes.

Land 87

Land Closing costs Purchase and sale agreement Loans 87

HomeLight

JANUARY 27, 2021

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. They’ll have specialized market information that others won’t. and 1% of your loan amount, annually.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117