Redfin

JULY 24, 2025

” Simply put, a down payment is the initial sum of money you pay upfront when buying a home, with the remaining amount financed through a mortgage. 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%.

FHA loan

Marco Santarelli

DECEMBER 22, 2024

Understanding these rates and how they can impact your financial decisions is crucial as you navigate your home financing options. However, a positive consideration is ensuring the additional debt taken on does not outweigh the benefits derived from the equity financing. Not exactly. How much does a mortgage refinance cost?

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Below you’re going to find some incredible recaps of home financing and mortgage blogs that have been published during 2017. Did you know if you file a Chapter 13 bankruptcy, you can immediately apply for an FHA loan?

Finance

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? If you want to put zero down, try applying for a: USDA loan.

FHA 203k rehab loan

Marco Santarelli

DECEMBER 21, 2024

FHA and VA Loans For low-income or first-time homebuyers, FHA loans provide essential options. These loans are insured by the Federal Housing Administration and require lower credit scores and down payments. Current Rate for 30-Year FHA : 5.58% Pros : More accessible for first-time buyers.

Mortgages

Marco Santarelli

MARCH 4, 2025

VA Loans: For eligible veterans, VA loans offer great benefits, including no down payment and often lower interest rates. FHA Loans: FHA loans are insured by the Federal Housing Administration and are designed for borrowers with lower credit scores or smaller down payments. ARMs can be risky.

Mortgages

Redfin

JULY 23, 2025

The amount you’ll be required to put down may vary depending on the loan program you use to finance the home purchase. Government-backed loans like USDA and VA allow down payments as low as 0%. On the other end of the spectrum, jumbo loans may require minimum down payments of 10% or more. The short answer is, it depends.

FHA 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

Redfin

JUNE 27, 2025

What many first-time buyers don’t realize is that there are national, state, and even local programs designed to help break down these barriers for new buyers. These are tailored specifically for first-time buyers offering down payment assistance, grants, or credits to reduce how much you pay in interest on your loan.

Pre-approval

Marco Santarelli

MAY 14, 2025

Government-Backed Loans : These are designed to assist specific types of borrowers, such as veterans or low-income individuals. VA Loans : Offered to veterans and active-duty military personnel, these loans typically require no down payment and have favorable terms.

Mortgages

The Mortgage Report

AUGUST 5, 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

Redfin

JULY 31, 2025

Look into first-time homebuyer benefits Many programs are designed to make homeownership more accessible for first-time buyers by reducing upfront costs, lowering monthly payments, and helping with mortgage qualification. State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help.

Purchase and sale agreement

Redfin

JANUARY 28, 2025

For example: If the home sells for $400,000 but the mortgage balance is $300,000, the buyer must cover the $100,000 differenceeither in cash or through additional financing. Assumption fee: Lenders typically charge an administrative fee to process the loan transfer, usually ranging from 0.05% to 1% of the remaining loan balance.

Loans

HomeLight

MAY 15, 2025

This can extend to dual agency, designated agency, and more, and in states like New York, this is mandatory. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

Marco Santarelli

FEBRUARY 16, 2025

VA and FHA Loans : Competitive rates with a 30-year VA at 5.98% and FHA rates starting at 5.75%. Understanding VA and FHA Loans For first-time homebuyers or those with limited funds for a down payment, VA (Veterans Affairs) and FHA (Federal Housing Administration) loans are two excellent options to consider.

FHA loan

Marco Santarelli

MARCH 11, 2025

Veterans Affairs (VA) Loans : For eligible veterans, active-duty service members, and some members of the National Guard and Reserves, VA loans offer favorable terms, such as no down payment and lower interest rates, making homeownership more accessible to those who have served in the military.

Fixed-rate mortgage

Redfin

JULY 31, 2025

What to do instead: Take time to research different loan types, including FHA loans with low down payment requirements, VA loans for eligible veterans, USDA loans for rural areas, and adjustable-rate mortgages (ARMs) that may offer lower initial rates. FHA Loan: Require only 3.5%

VA loan

Redfin

APRIL 11, 2025

There are several financing options to choose from if youre ready to buy a starter homebut first and foremost, estimate how much house you can afford by using a home affordability calculator. Then, take a close look at your finances, including income, savings, and expenses, to assess if buying a home fits your budget.

Marketing

Redfin

JULY 28, 2025

A homeowner’s education course is required for this loan as well. Credit score: 620-660 Down payment minimum: 3% DTI: 43% or less AMI: 80% or less FHA loans A Federal Housing Administration (FHA) loan is a flexible alternative for those who don’t meet the requirements for conventional loans.

VA loan

The Close

MAY 20, 2025

An investment property loan is any type of financing you use to buy or refinance a property that generates income, like a rental property (single-family home or a multifamily property) or a commercial property. One of its most unique features is that they base loan terms off of your credit score and business history.

Loans

Norada Real Estate

JUNE 7, 2025

Government Loans Government-backed loans usually present favorable terms for first-time homebuyers or those with lower credit scores. FHA and VA loans are prominent in this category. FHA loans, with their lower down payment requirements, can be particularly attractive to those entering the housing market.

Mortgages

Redfin

JULY 30, 2025

You’re buying in a designated redevelopment area, where certain programs have less strict rules. It’s important to note, however, that your credit score influences your interest rate and loan options. Pre-qualification: An informal lender evaluation of your finances, estimating affordability. Am I ready to purchase a home?

Pre-approval

HomeLight

MARCH 7, 2025

But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards. If your house complies with FHA, then it complies with most other lenders requirements.

As-is

Redfin

JUNE 27, 2025

There are a number of first-time home buyer benefits designed to make homeownership more affordable, from down payment assistance to tax credits and more. You’re buying in a designated redevelopment area, where some programs relax the rules (even for repeat buyers). Let’s break it down: FHA loans require as little as 3.5%

Debt-to-income ratio

Redfin

JULY 21, 2025

But if you’ll be financing the purchase, your credit score becomes a key factor in how much you’ll be able to borrow and what kind of home fits your budget. of your loan amount per year. Most lenders prefer a DTI that is less than 36%, but many lenders offer exceptions for ratios up to 45% or 50% for an FHA loan.

Debt-to-income ratio

AAOA

FEBRUARY 6, 2025

Building Design + Construction recently noted that National REITs like Avalon Bay Communities and local investor-operators have completed many ADU projects, are pleased with the results and plan to keep building more. Others work with interior designers to create an especially attractive space.

Due diligence

Redfin

JULY 18, 2025

However, if you’ll need financing to move into your new home – like most Americans – your credit score can play a large role in what you can afford. of your loan amount per year. PMI is designed to protect the lender’s investment, but reaching the 20% down payment threshold often allows you to forgo this extra expense.

Debt-to-income ratio

Redfin

JULY 22, 2025

However, if you’ll need financing to move into your new home – like most Americans – your credit score can play a large role in what you can afford. of your loan amount per year. PMI is designed to protect the lender’s investment, but reaching the 20% down payment threshold often allows you to forgo this extra expense.

Debt-to-income ratio

Marco Santarelli

MAY 2, 2025

These are often “teaser” rates designed to grab your attention, and they might come with hidden costs or strict requirements. Save For a Larger Down Payment: Putting down more money upfront can reduce your loan-to-value ratio (LTV), which can qualify you for a lower rate. Don't Fall For the “Teaser” Rates!

Mortgages

Redfin

JUNE 9, 2025

However, if you’ll need financing to move into your new home – like most Americans – your credit score can play a large role in what you can afford. of your loan amount per year. PMI is designed to protect the lender’s investment, but reaching the 20% down payment threshold often allows you to forgo this extra expense.

Debt-to-income ratio

Marco Santarelli

MAY 20, 2025

Future of Housing Market After Redfin's Acquisition by Rocket Mortgage This isn't just another business deal; it's a pairing that could fundamentally change how many of us find, finance, and close on our homes. In a world where convenience is king, integrating the search and financing aspects of homebuying makes a lot of sense.

Mortgages

Redfin

JULY 30, 2025

The legal age to buy a house is generally 18 across most states , but being “ready” to buy a house has a lot more to do with your finances than your birthday. These include: FHA loans : Great for first-time buyers with lower credit scores. Conventional 97: Backed by Fannie Mae or Freddie Mac, these loans offer 3% down options.

FHA loan

Marco Santarelli

MAY 5, 2025

National Averages of Lenders' Best Mortgage Rates Loan Type New Purchase 30-Year Fixed 6.95% FHA 30-Year Fixed 7.33% 15-Year Fixed 5.97% Jumbo 30-Year Fixed 6.90% 5/6 ARM 7.20% Decoding Those Teaser Rates You know those super-low mortgage rates you see advertised online? Be cautious! Don't be afraid to negotiate!

Mortgages

Housing Wire

APRIL 17, 2025

More insulation, better windows, tighter air sealing, and well-designed appliances cut energy bills for decades of residents. The first big cost-saver at stake would ensure that new homes that receive FHA loans or support from several other federal programs are built to up-to-date energy codes.

FHA loan

Marco Santarelli

APRIL 8, 2025

Current Mortgage Rates (April 8, 2025) Mortgage Type Average Rate 30-Year Fixed 6.50% 15-Year Fixed 5.80% 7/1 ARM 6.63% 5/1 ARM 6.50% FHA Loans 5.76% VA Loans 6.00% Source: Zillow These rates come at a pivotal time as the housing market continues to navigate through economic challenges and changing financial landscapes.

Mortgages

Housing Wire

AUGUST 30, 2024

As a salve, a vocal minority of activists say that “simply” allowing the financing of buyer-agent commissions into mortgages will resolve all concerns. For reasons both practical and legal, buyer-agent commissions are not today explicitly financeable with a mortgage. But this is much easier said than done.

Finance

Housing Wire

DECEMBER 18, 2020

Here’s what you need to know about financing that purchase. Conventional loans. A conventional loan is a smart way to finance an income-earning property. You may also be able to use an FHA loan to buy your home, but there are caveats. Hard money loans.

FHA loan