HomeLight

AUGUST 31, 2020

If you don’t have a lot of cash saved and you are a veteran or looking for a home a bit outside of the city, then you may qualify for no-down payment loans, such as a VA or USDA loan. Many offer down payment grants, no-down-payment mortgages, and low interest rates. Source: Giorgio Trovato / Unsplash). How do I qualify?

Debt-to-income ratio 64

Debt-to-income ratio FHA loan Pre-qualification VA loan 64

HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? Source: (Gonzalo Facello / Unsplash). Conventional.

Mortgages 57

Mortgages Debt-to-income ratio Loans Closing costs 57

Redfin

FEBRUARY 10, 2021

Luckily, Redfin chief economist Daryl Fairweather gives us her keen insights into what the housing industry is doing in 2021. “ In early 2021, homebuyers will remain undeterred by the pandemic, eager to take advantage of sub-3% mortgage rates while they last. Money that is not going against the principal of your mortgage.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

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? Mortgage rates are relatively complex. Who sets mortgage interest rates? economy.

Mortgages 77

Mortgages Loans Fixed-rate mortgage Principal 77

HomeLight

JULY 31, 2020

HomeLight looked at the pros and cons of both larger and smaller down payments, interviewing real estate and mortgage professionals, as well as investigating statistics on just how much people are putting down on homes these days, all to help you decide what will work best for you when it comes time to make your home purchase.

Debt-to-income ratio 68

Debt-to-income ratio Loans Equity VA loan 68

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). Assumable mortgage. Amortization.

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

HomeLight

OCTOBER 15, 2020

If you’re a would-be homebuyer searching for a home in a rural or even suburban area, you could potentially qualify for a United States Department of Agriculture (USDA) loan. These loans — like FHA and VA loans — are backed by the government. For a USDA loan, you should have a minimum FICO score of 640.

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Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 82

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. A great agent also has relationships across the industry. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ!

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Closing costs Loans Inspection Earnest money deposit 114

HomeLight

OCTOBER 29, 2021

Your lender wants to see that you aren’t wiping yourself out financially to buy a house, and they usually require about two months’ worth of mortgage payments in your bank account as a financial cushion. This is known as your debt-to-income ratio (DTI). Shop around for a mortgage.

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Inspection Loans VA loan Title 87