HomeLight

OCTOBER 28, 2024

This means you’ll likely need to invest both time and money into cleaning, repairs, and even staging. Will your debt-to-income ratio permit a new loan? This ratio compares your monthly debt payments to your income, and most lenders prefer a DTI of 43% or lower for mortgage approval.

Pre-approval

HomeLight

JULY 28, 2025

A bridge loan could be the solution to help everything fall into place. In this post, we’ll explain everything you need to know about bridge loans in Scottsdale so you can decide the best path forward for your situation. Buy Before You Sell What is a bridge loan, in simple words? What are the drawbacks of a bridge loan?

Equity

HomeLight

JULY 24, 2025

A bridge loan might be just what you need to buy your next home without waiting to sell your current one. In this guide, we’ll walk you through everything you need to know about bridge loans in Sacramento. Buy Before You Sell What is a bridge loan, in simple words? What are the benefits of a bridge loan in Sacramento?

Equity

HomeLight

JULY 24, 2025

A bridge loan could be the tool you need to help everything fall into place — giving you the flexibility to buy your next home without rushing to sell your current one first. In this guide, we’ll break down everything you need to know about getting a bridge loan in Orlando. Buy Before You Sell What is a bridge loan, in simple words?

Equity

HomeLight

JULY 24, 2025

A bridge loan might be just what you need to buy your next home without waiting to sell your current one. In this guide, we’ll walk you through everything you need to know about bridge loans in Sacramento. Buy Before You Sell What is a bridge loan, in simple words? What are the benefits of a bridge loan in Sacramento?

Equity

Redfin

MARCH 14, 2025

A mortgage commitment letter is a formal assurance from your lender that your loan has been reviewed and is on track for approval, pending final conditions. A mortgage commitment letter is a formal document issued by a lender stating that your loan application has been reviewed and approved, pending final conditions.

Debt-to-income ratio

Rochester Real Estate

NOVEMBER 5, 2015

When you secure a mortgage loan to purchase a property, your monthly payment involves more than just the principal and interest. It constitutes the initial loan balance you gradually pay off over the loan term. Step 1: Determine Your Loan Amount The first step is to determine the principal amount of your loan.

Debt-to-income ratio

Marco Santarelli

JULY 25, 2025

Average Loan Size: The size of the average mortgage in a state can also affect rates. For example, states with higher property values tend to have larger loan sizes. One point equals 1% of the loan amount, so it can add up quickly. Loan Size Limitations: Some lenders offer lower rates only on smaller or larger loan amounts.

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

In my experience as a Webster NY Realtor , not enough buyers understand the impacts of scores until they apply for a loan. Credit mix: The types of credit accounts, such as credit cards, loans, and mortgages. Firstly, it allows the borrowers to pool their incomes, potentially qualifying for a more significant loan amount.

Debt-to-income ratio

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Federal loan options: Government-backed loans like FHA, VA, and USDA loans are popular among first-time buyers, offering flexible credit and down payment requirements. These require just 3.5%

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Saving a Down Payment While many home loan options allow low down payments, this will mean additional costs. Final Loan Approval Before you close on the home, avoid making any changes to your finances that could undermine your approval. You don’t want to be denied the loan after being approved.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

It’s unfortunate, but not every prospective buyer is going to be able to qualify for a home loan. In the simplest terms the main difference is that a bank has its own lending criteria and offers loans by using its own funds. You have no control over who you loan gets sold to. In contrast, a mortgage broker is a middleman.

Finance

Rochester Real Estate

NOVEMBER 5, 2015

We will look at homebuyer mistakes, so you can avoid these things when getting a loan. Increasing Your Debt Part of the lender’s calculation is your debt-to-income ratio. Your income compared to your debts shows the lender how much you can afford. Make sure you keep your payments on time.

Debt-to-income ratio

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should You Pay Off Student Loans Before Purchasing a Home? Student loans can impact a buyers ability to get a mortgage quite significantly. I’ve even asked myself this question.

Loans

Marco Santarelli

JUNE 27, 2025

Essentially, it's a home loan with an interest rate that's fixed for a specific period (in this case, five years) and then adjusts periodically based on market conditions. This is different from a fixed-rate mortgage , where the interest rate remains the same throughout the life of the loan. How does it work? Prime Rate ).

Fixed-rate mortgage

Housing Wire

MAY 7, 2025

She was a responsible borrower but made a mistake: she had lost track of her student loan payments and was 60 days late. The client, who logged into her student loan portal and made a payment, is now in limbo about whether a new credit report needs to be pulled in her 90-day escrow, the loan officer at Guild Mortgage told HousingWire.

Loans

Housing Wire

MARCH 30, 2021

The final rule established a pricing threshold that effectively replaced the debt-to-income limit of 43% with a price-based approach that gives lenders relief for loans capped at 150 basis points above the prime rate. Presented by: Proctor Loan Protector. “As

Debt-to-income ratio

Housing Wire

JANUARY 21, 2022

The platform currently offers two ESG mortgage programs — one focused on green home loans, called MAXEX Sustainable ; and the second, MAXEX Opportunity , serves minority, women and veteran-owned mortgage lenders and is focused on the socially responsible part of ESG. Slump added. That’s been an obstacle,” he said.

Marketing

Housing Wire

MARCH 10, 2023

Among the nonbanks that either have or plan to introduce HELOC loan products are United Wholesale Mortgage , Rocket Mortgage , Guaranteed Rate , loanDepot and New Residential Investment Corp. HELOCs rising Toohig’s sense of the HELOC market from his perch as a loan trader matches the broader rising market numbers for the product.

Equity

RIS Media

JUNE 6, 2021

Are you wondering how land loans work? Getting a loan for land is a smart move, especially when you will not be constructing your home right away. Let’s take a look at everything you need to know about acquiring a land loan, so your financing is an easy, carefree process. Where Do You Get Your Loan? Land Loan Types.

Land

HomeLight

DECEMBER 13, 2023

But there’s another option that you probably haven’t considered: a bridge loan. A bridge loan is a short-term loan that “bridges the income gap” between selling your existing property and purchasing your next home. What is a bridge loan, in simple words? How does a bridge loan work in Miami?

Equity

HomeLight

DECEMBER 13, 2023

But there’s an alternative you probably haven’t considered — a bridge loan. A bridge loan is a short-term financial tool that “bridges the income gap”, enabling you to purchase your new home before you’ve sold your old one. What is a bridge loan, in simple words? How does a bridge loan work in San Diego?

Equity

HomeLight

DECEMBER 5, 2023

That’s where a bridge loan in Connecticut can be your saving grace. A bridge loan is your short-term financial bridge, designed to help you purchase that new home while your old one is still on the market. What is a bridge loan, in simple words? How does a bridge loan work in Connecticut?

Equity

HomeLight

DECEMBER 15, 2023

However, there’s one financial tool you probably haven’t considered – a bridge loan. A bridge loan is a short-term financing solution, giving you the necessary income to purchase a new home, even before you’ve sold your current one. What is a bridge loan, in simple words? How does a bridge loan work in Atlanta?

Equity

HomeLight

DECEMBER 29, 2023

However, there’s a solution that you may not have considered: a bridge loan. A bridge loan is a short-term financial tool designed to “bridge the gap,” enabling you to purchase a new home before you’ve sold your current residence. What is a bridge loan, in simple words? How does a bridge loan work in Dallas?

Equity

HomeLight

NOVEMBER 21, 2023

Enter the bridge loan, a financial lifeline that can synchronize the purchase of your new Minnesota home while leveraging the equity of your current property. A bridge loan isn’t just another financing option; it’s a strategic tool tailored for homeowners like you, seeking a seamless move in today’s complex market.

Equity

HomeLight

DECEMBER 15, 2023

Enter the bridge loan. If you need assistance navigating the use of a bridge loan in Austin, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? A bridge loan is a temporary solution designed to “bridge the gap” between selling your current home and buying a new one.

Equity

HomeLight

NOVEMBER 15, 2023

Enter the bridge loan – a short-term financial solution designed to bridge the gap. A bridge loan empowers you to purchase your next Arkansas home before you’ve sold your current one, offering a lifeline in aligning your real estate dreams with reality. What is a bridge loan, in simple words?

Equity

HomeLight

DECEMBER 7, 2023

Enter the bridge loan – a short-term financing option. Bridge loans allow you to purchase a new home before selling your current residence, alleviating pressure and uncertainty while unlocking the equity in your current home. If you need assistance navigating the use of a bridge loan in Washington, D.C.,

Equity

HomeLight

DECEMBER 8, 2023

However, there’s a financial tool that could be the key to seamlessly aligning these moving parts: a bridge loan — empowering you to purchase your new home before selling your current one. In this post, we’ll provide insights and tips about bridge loans in Ohio. What is a bridge loan, in simple words?

Equity

HomeLight

DECEMBER 7, 2023

Enter the bridge loan — a short-term financing option that lets you purchase your home before you’ve sold your old one. This post will guide you through the ins and outs of bridge loans – the pros, the cons, when you should consider one, and what you can expect throughout the process. What is a bridge loan, in simple words?

Equity

HomeLight

NOVEMBER 17, 2023

However, there’s a strategic solution that might just fit your needs: a bridge loan. As a short-term financing option, bridge loans in Illinois offer a unique opportunity. In this post, we’ll provide insights and helpful tips about bridge loans in Illinois. What is a residential bridge loan?

Equity

HomeLight

JANUARY 30, 2024

But a potential solution to this buy-sell conundrum is a bridge loan. With a bridge loan, you might find the pieces of your real estate puzzle fitting together more seamlessly than you thought possible. If you need assistance navigating the use of a bridge loan in Denver, HomeLight encourages you to reach out to your own advisor.

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. If you need assistance navigating the use of a bridge loan in Massachusetts, HomeLight encourages you to reach out to your own advisor.

Equity

HomeLight

NOVEMBER 30, 2023

But there’s an alternative that might just be the solution you’re looking for: a bridge loan. If you need assistance navigating the use of a bridge loan in Iowa, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Iowa?

Equity

HomeLight

NOVEMBER 30, 2023

Enter the bridge loan. If you need assistance navigating the use of a bridge loan in Missouri, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Missouri? This is where a bridge loan comes into play.

Equity

HomeLight

NOVEMBER 30, 2023

However, a solution might fit your needs perfectly: a bridge loan. If you need assistance navigating the use of a bridge loan in Maine, HomeLight encourages you to reach out to your own advisor. What is a bridge loan, in simple words? How does a bridge loan work in Maine? However, there’s a silver lining.

Equity