Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. 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.

Debt-to-income ratio 395

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 395

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

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

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

Pre-approval 59

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

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. You Need a 20% Down Payment to Get a Mortgage.

Debt-to-income ratio 97

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

HomeLight

OCTOBER 15, 2020

You’ve worked hard to improve your credit score , pay down your debts, and save up for a healthy down payment. Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. Fannie and Freddie are government-sponsored entities (GSE) that back most of the mortgages in the U.S.

Loans 93

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

Windemere Selling

JUNE 13, 2022

Homeowners can often reach a financial fork in the road when they must decide to either refinance their existing mortgage or sell their home. Each route has its respective advantages depending on your financial health, the mortgage rate market , and the future needs of your household.

Debt-to-income ratio 52

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

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. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 362

Closing Fixed-rate mortgage Debt-to-income ratio Lending 362

Redfin

FEBRUARY 11, 2021

If you’re a first-time homebuyer you’ve surely been putting pencil to paper to estimate what your future mortgage payment, taxes, insurance, and maintenance will be on a new home. However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI).

Debt-to-income ratio 64

Debt-to-income ratio VA loan Fixed-rate mortgage Loans 64

HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

Debt-to-income ratio 83

Debt-to-income ratio Mortgages FHA loan Loans 83

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. Paying mortgage insurance isn’t that big a deal.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

Realty Biz

DECEMBER 30, 2022

If you fall into this category, you'll need to learn how mortgages work. More specifically, you'll need to spend some time educating yourself on the different types of mortgage loans. It'll also help you get access to the best mortgage rates around. Conventional Mortgage. Government-Backed Mortgage.

Loans 69

Loans FHA loan Mortgages Debt-to-income ratio 69

HomeLight

AUGUST 28, 2020

If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? How is your rate determined? And how do you get a low rate?

Mortgages 79

Mortgages Loans Fixed-rate mortgage Principal 79

Point2Homes

NOVEMBER 8, 2020

Interest rates are currently at a historic low, making it extremely tempting to reconsider your current mortgage. Indeed, you may be thinking about refinancing your mortgage in order to make the most of low rates. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage?

Debt-to-income ratio 75

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

HomeLight

JUNE 16, 2023

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. In some instances, prioritizing paying off your high-interest debt over your fixed-rate mortgage can expedite your journey to financial freedom.

Fixed-rate mortgage 59

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

Real Estate Finance HQ

AUGUST 25, 2017

Instead, the agency guarantees repayment to lenders if a borrower defaults, so that the lenders know they won’t lose money on the deal, thus allowing them to offer competitive mortgage rates on loans that are easier to qualify for than conventional home loans. Housing Ratio. Debt to Income Ratio.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

HomeLight

MARCH 11, 2022

For buyers, that’s not always good news: Massachusetts’ popularity means the state has a competitive housing market. Understandably, many buyers worry they can’t afford a mortgage in this highly desirable state. Both Boston and Cambridge host strong, stable housing markets, and you’ll pay top dollar to live in either city.

Closing costs 90

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

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. Some mortgage programs require no down payment but can have strict eligibility requirements. In most housing markets (and New Jersey is no exception) it’s all about location, location, location.

Land 87

Land Closing costs Purchase and sale agreement Loans 87

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. Adjustable-rate mortgage (ARM). Annual percentage rate (APR).

Purchase and sale agreement 98

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