The Mortgage Report

JULY 24, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

Redfin

JULY 30, 2025

Which loan is right for you? Conventional loans: You have a credit score of 620+, stable income, and can put at least 3% down. FHA loans: You have a credit score of 580+ (or 500+ with 10% down) and a higher DTI ratio. VA loans: You’re an eligible veteran, active-duty service member, or surviving spouse.

Loans

The Mortgage Report

JULY 11, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? The sky is not falling.

FHA 203k rehab loan

The Mortgage Report

JULY 14, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

Marco Santarelli

DECEMBER 22, 2024

Fixed-Rate Mortgages: These loans offer stability by locking in the interest rate for the entire duration of the mortgage (typically 15-30 years). Over the life of the loan, you would pay about $394,752 in interestjust for borrowing the money! Debt-to-Income Ratio: Lenders prefer lower debt-to-income (DTI) ratios.

Mortgages

Redfin

JULY 24, 2025

According to Redfin Real Estate, the minimum down payment for first-time homebuyers varies depending on the type of loan. Many loans offer down payments as low as 3% or even 0%. Here’s a quick breakdown: FHA loans, for example, typically require 3.5% VA and USDA loans may offer 0% down for eligible borrowers.

FHA loan

Redfin

JUNE 27, 2025

Not getting pre-approved for a home loan before starting your search A common mistake for first-time homebuyers is jumping into the search without first getting pre-approved for a mortgage. Even a small difference in your mortgage rate can really add up over the life of the loan, so it’s worth your time to shop around.

Pre-approval

Marco Santarelli

FEBRUARY 26, 2025

It's not just the 30-year fixed that's moving let's take a closer look at what different types of loans are doing. Mortgage Type Rate 30-Year Fixed 6.35% 20-Year Fixed 6.06% 15-Year Fixed 5.64% 5/1 ARM 6.56% 7/1 ARM 6.39% 30-Year VA 5.80% 15-Year VA 5.30% 5/1 VA 5.89% See that? Thats a pretty significant difference!

Mortgages

Redfin

JULY 23, 2025

Keep in mind that if you put down less than 20%, you’ll likely have to pay private mortgage insurance (PMI), which will increase your monthly costs—and if property taxes are higher, you’ll need an even higher income to qualify. VA loans , available to eligible veterans and active-duty service members, require no down payment and no PMI.

Debt-to-income ratio

The Mortgage Report

JULY 22, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

Redfin

JULY 2, 2025

This Redfin article explains how job changes impact the mortgage process and what lenders look for—whether you’re applying for a home loan in Raleigh, NC or preparing to close on a house in Denver, CO. Exceptions: Special loan programs for recent job changes Some loan types are more flexible than others: 1.

Pre-approval

Redfin

JULY 30, 2025

Key takeaways: First-time homebuyer: Anyone who hasn’t owned a primary residence in the past three years Common first-time homebuyer qualifications: Credit score, debt-to-income ratio, down payment, income limits, employment history, purchase limits, homebuyer education Buying your first home? Let’s get started.

Debt-to-income ratio

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

Redfin

JULY 30, 2025

Most homebuyers will need to think ahead about the following costs when estimating how much money is needed to purchase a home: Down payment: The down payment is a percentage of the home’s purchase price, anywhere from 0% to 20% depending on your loan. Several loan options, such as FHA or VA loans, only require a down payment of 3.5%

Pre-approval

Marco Santarelli

MARCH 20, 2025

Be prepared for higher monthly payments compared to a 30-year loan. VA Loans – A Benefit for Veterans: Backed by the Department of Veterans Affairs, VA loans offer significant advantages to eligible veterans, active-duty service members, and surviving spouses. Refinance Rates: What's on Offer Today?

Mortgages

Redfin

MARCH 4, 2025

Key takeaways You can use your 401(k) to buy a home with a 401(k) loan or withdrawal. A 401(k) loan allows you to borrow the money without penalty, but you need to repay it. A 401(k) withdrawal is subject to a 10% penalty and income tax. There are two options to consider – 401(k) loans and 401(k) withdrawals.

Debt-to-income ratio

Redfin

JULY 24, 2025

We’ll explain how it’s possible to roll closing costs into your new loan, potentially eliminating the need for upfront cash. We’ll outline the key criteria lenders look for, including credit score, debt-to-income ratio, and home equity. How to avoid paying closing costs. What is refinancing a mortgage?

Mortgages

Redfin

AUGUST 1, 2025

Higher credit limits and lower interest rates for loans and credit cards are among the many reasons people try to improve their credit. Let’s explore whether you can buy a house with that score and what loan options may be available. The key is finding a loan program that you qualify for and that fits your needs.

VA loan

Redfin

JULY 28, 2025

Key takeaways: There are several options, loans, and assistance programs that make it possible to buy a house with low income. Take steps to improve your chances of qualifying for a mortgage by building credit, paying down debts, and saving for a down payment.

VA loan

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

Redfin

JUNE 27, 2025

Key takeaways: Your first-time home buyer benefits include down payment and closing cost assistance, grants, tax benefits, and low-interest or forgivable loans. Eligibility depends on factors like income, location, home price, and use of an approved lender. Grants Unlike loans, grants don’t need to be repaid.

Debt-to-income ratio

Redfin

JULY 17, 2025

We’ll outline how you can make your case without the typical job history and which loans might be a better fit. They want to be confident that you have a reliable source of income to make your monthly payments—not just now, but for years to come. Military veteran? Service history can sometimes substitute for traditional work history.

VA loan

Redfin

JULY 30, 2025

In fact, today’s first-timers are older than ever, thanks to factors like rising home prices , student loan debt, and stricter lending standards. Income stability: Lenders typically want to see at least two years of consistent employment history. These include: FHA loans : Great for first-time buyers with lower credit scores.

FHA loan

The Mortgage Report

JULY 16, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? In this article (Skip to.)

FHA 203k rehab loan

Housing Wire

MAY 24, 2024

Nearly 1 in 5 millennials (19%) think their credit card debt will be a stumbling block when applying for a mortgage, while 1 in 7 (14%) think the same about their student loans. How student loans impact your ability to buy a home Adding a mortgage on top of monthly student loan payments can create a significant financial strain.

Debt-to-income ratio

Housing Wire

OCTOBER 27, 2020

It influences what loans you’re eligible for, how much you can take out, and how much you’ll pay in interest over the life of your loan. Perfect credit would certainly make getting a loan easier (and cheaper), but it’s not a requirement by any means. Myth 2: You can’t buy a house if you have lots of student loan debt.

Debt-to-income ratio

Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan

Housing Wire

NOVEMBER 7, 2023

This implies easing inflation next year, and mortgage rates near 6% would help affordability issues caused by two things: The inflation fight has fueled the mortgage rate spike Low inventory and a steady job market have put a floor on home prices The good news is that GSEs remain committed to loan approval guidelines that help in these tough cycles.

Debt-to-income ratio

Housing Wire

APRIL 4, 2022

Text sign showing hand written words FHA Home loan. Over 80% percent of FHA purchasers are first-time homebuyers, and borrowers of color obtained over 40% of FHA loans last year, according to HUD. The FHA also insured more than twice as many loans to Black and Hispanic borrowers last year as the rest of the mortgage market combined.

FHA loan

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. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing

Realty Biz

APRIL 5, 2022

However, FHA and VA loans are the only two mortgage loan programs that allow borrowers during Chapter 13 Bankruptcy to be eligible for a home mortgage. FHA and VA guidelines during Chapter 13 Bankruptcy is almost the same. We will cover and discuss qualifying for an FHA and/or VA loan during Chapter 13 Bankruptcy.

Bankruptcy

Rent, Buy & Sell

FEBRUARY 7, 2021

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. The FHA Loan program was created to help low to moderate-income homebuyers, particularly those that do not have enough cash saved for a down payment.

Loans

Point2Homes

DECEMBER 15, 2021

An assumable mortgage is a financial agreement in which a homebuyer takes over, or assumes, the seller’s outstanding mortgage balance and its terms when buying a home , rather than taking out their own loan. Or you can assume your partner’s mortgage in case of a divorce if your name is listed on the house title but not on the initial loan.

Debt-to-income ratio

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

HomeLight

MARCH 9, 2023

Disclaimer: This post about loan and assistance programs for low-income and minority homebuyers is provided for educational purposes and does not constitute financial advice. We’ve gathered information about assistance programs and their various options, from loans to down payment assistance. However, there is help out there.

Loans

Lab Coat Agents

MAY 1, 2024

VA loan assumptions offer a fantastic opportunity for your clients to save thousands on their mortgage in a rising interest rate environment. What is a VA Loan Assumption? What is a VA Loan Assumption? This can provide significant savings compared to taking out a new loan at prevailing market rates.

VA loan

Realty Biz

OCTOBER 4, 2020

A study by American Student Assistance found that 55% of student loan holders said their debt is causing them to put off homeownership. With low-interest rates and low or no-down payment programs available, people saddled with large student debt should be doing everything they can to take advantage of these opportunities.

Debt-to-income ratio