HomeLight

FEBRUARY 12, 2021

Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. Foundation damage.

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FHA loan Loans Pre-approval Pre-qualification 111

Lab Coat Agents

FEBRUARY 7, 2023

The minimum down payment for an FHA loan is 3.5%. VA Mortgage: A mortgage guaranteed by the Department of Veterans Affairs (VA) is available to eligible active-duty service members and veterans. VA loans typically offer favorable terms, including no down payment or monthly mortgage insurance premiums.

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FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Marco Santarelli

FEBRUARY 16, 2025

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. VA Loans : These loans are backed by the U.S.

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FHA loan Mortgages Principal VA loan 52

Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance.

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Finance Debt-to-income ratio FHA loan Mortgages 96

Lab Coat Agents

NOVEMBER 20, 2024

The seller’s lender must approve the assumption, guaranteeing the buyer is creditworthy and capable of managing the mortgage payments. This approval process helps protect the lender’s interests while offering flexibility for buyers looking to save on their home purchases.

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Purchase and sale agreement Mortgages Pre-approval VA loan 98

HomeLight

NOVEMBER 16, 2021

Through the Home Partners program, prospective rent-to-own homebuyers start by filling out a pre-qualification application. If approved, they move to submit a full application. Buyers will need to meet Home Partners’ minimum FICO requirement, which varies by market, and a maximum debt-to-income ratio (DTI) of 45% to be approved.

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Purchase and sale agreement Pre-approval Debt-to-income ratio Pre-qualification 104

HomeLight

SEPTEMBER 21, 2020

Special designations, like military-relocation specialist. In that sense, an agent with a special designation like Military Relocation Professional (MRP) can grant peace of mind. Access hundreds of pre-approved buyers nationwide. All of our real estate buyers are pre-vetted. Market your transferable VA Loan Terms.

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VA loan Purchase and sale agreement Loans Agents 111

Redfin

AUGUST 12, 2024

Because they meet federal guidelines, conforming loans typically offer lower interest rates due to reduced lender risk and are easier to qualify for compared to non-conforming loans. Jumbo loans / non-conforming loans Non-conforming mortgage loans, commonly known as jumbo loans, exceed the loan limits set for conforming mortgages.

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Loans Mortgages Pre-approval Fixed-rate mortgage 74

Redfin

JULY 31, 2024

Understand loan options: Learn about different mortgages like conventional, jumbo, and government-backed loans (FHA, VA, USDA). Prepare thoroughly : Improve your credit score, set a budget, and get pre-approved to streamline the home-buying process and secure a favorable mortgage. Did you know?

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Pre-approval Pre-qualification Mortgages Loans 71

Marco Santarelli

AUGUST 24, 2024

We'll delve into understanding credit scores, exploring your loan options, and uncovering effective strategies to improve your chances of approval. Minimum Credit Score: The minimum credit score requirement for an FHA loan can be as low as 500, although a score of 580 or higher generally qualifies you for more favorable terms.

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Mortgages Pre-approval VA loan FHA loan 52

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. USDA Rural Development loans also allow for 100% financing (or 0% down). For example, pre-pandemic, an FHA loan could be secured with 3.5%

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Debt-to-income ratio FHA loan Pre-qualification VA loan 93

Redfin

JULY 11, 2023

A mortgage is a loan specifically designed for purchasing a property, commonly a home. In the event that the borrower fails to repay the loan, the lender has the right to take possession of the property through a legal process known as foreclosure. How does the mortgage pre-approval process work?

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

Redfin

MAY 5, 2025

If you’re thinking of buying a home, get pre-approved with a mortgage lender now to find out where you stand. That’s why it’s so important to get pre-approved early and find out where you stand in a lender’s eyes. Additional pre-approvals are also unlikely to hurt you.

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Pre-approval FHA loan Loans Banks 58

Marco Santarelli

DECEMBER 12, 2024

This translates to a strong demand for housing due to frequent relocations and the presence of VA loan benefits. Stronger Inventory: The forecast suggests that Colorado Springs may be nearing its pre-pandemic inventory levels, which implies that buyers may have more options compared to the recent past. 5 Richmond, Va.

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VA loan Marketing Pre-approval FHA loan 52

Marco Santarelli

JULY 10, 2024

This is significantly higher than the pre-pandemic rates, which hovered around 3-4%. Possibility of Faster Approval Process: The terms and rates are already established, potentially leading to a quicker approval process. USDA Loans: Designed for rural property buyers and are also assumable.

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Pre-qualification Mortgages Pre-approval Debt-to-income ratio 52

The Close

SEPTEMBER 2, 2020

4 What is the difference between an FHA and conventional loan? 8 How do I get approved for a loan? 19 How does a VA loan work? Here are examples of a few solid CTAs that will increase your email responses: “Click here for a home pre-list checklist.”. 5 How long does it take to sell a home?

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Purchase and sale agreement Renovation Pre-approval VA loan 124

HomeLight

SEPTEMBER 30, 2021

Department of Housing and Urban Development (HUD)-approved counseling agency, providing more than 31% of the housing counseling in the country. “It’s My partners use this strategy when it comes to getting a low-income client approved and getting into that home,” Rosas adds. Loans and programs for buyers with lower incomes.

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Loans Pre-approval Mortgages VA loan 104

HomeLight

AUGUST 20, 2021

The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. FHA loans require a special appraisal. Design and appeal can offset actual age.” Pre-1978 did not require any corner sheer panels.

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FHA loan Inspection Pre-approval Loans 105

Marco Santarelli

APRIL 24, 2024

In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers. FHA Loans: Backed by the Federal Housing Administration, these loans are designed for borrowers with lower down payments (as low as 3.5%).

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Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Marco Santarelli

MAY 29, 2025

These are often “teaser rates” designed to grab your attention. They might require you to pay points upfront, have an exceptionally high credit score, or be based on a much smaller loan amount than you need. Be careful! The rate you actually qualify for will depend on your unique financial situation.

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Mortgages Debt-to-income ratio Pre-approval Fixed-rate mortgage 52

Redfin

APRIL 11, 2025

Getting pre-approved for a mortgage will help you understand what you can afford. From there, you can consider different loan options for buying your first home, like: Conventional loans : May require a larger down payment but could have lower long-term costs for buyers with good credit.

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Marketing Land Equity Loans 35

Redfin

MAY 2, 2023

Additionally, it’s important to review your credit report and score, as these can impact your ability to get approved for a mortgage and affect your interest rate. Colorado has several first-time homebuyer programs that can provide aid, such as the CHE Down Payment Assistance Loan , which offers up to $10,000 in down payment assistance.

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Pre-approval FHA loan Loans Finance 66

HomeLight

MAY 19, 2022

If the home is part of a designated historic district. Consider a pre-listing inspection. A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Not every buyer who has an approval letter will get to the finish line.”.

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As-is Inspection Investor Closing costs 119

HomeLight

OCTOBER 29, 2021

You want to get pre-qualified , and you want to know what types of programs are out there so you can understand your goal and how to budget.”. Knowing where you stand now can help you develop a strategy that will best position you for mortgage approval when the time comes to buy. down for a FHA loan.

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Loans FHA loan Pre-approval Mortgages 105

Marco Santarelli

APRIL 24, 2025

They typically have lower interest rates than non-conforming loans. Government Loans (FHA & VA): FHA Loans: Insured by the Federal Housing Administration, these loans are designed for borrowers with lower credit scores and smaller down payments. They often have no down payment requirement.

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Mortgages Fixed-rate mortgage Pre-approval Loans 52

HomeLight

OCTOBER 29, 2021

You can go through your household items and sell them on various sites like eBay, or set up shop on one of the many used clothing sites, such as Poshmark or Tradesy (think of that designer outfit you bought and wore exactly once…). Under this program, HomeLight buys the home (in cash!) Don’t expect a second chance to make a better offer.

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Inspection Loans VA loan Title 98

HomeLight

MARCH 13, 2023

Joseph has encountered active military who recently purchased homes with a VA loan, but got orders to ship out only to find that their home hadn’t appreciated much in a short time. You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises.

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Sales Investor Due diligence Renovation 98

The Mortgage Report

JUNE 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? VA loans are flexible with credit, income, and employment history.

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VA loan Loans FHA 203k rehab loan FHA loan 40

HomeLight

JUNE 30, 2021

USDA loan. Department of Agriculture loan is a zero-down mortgage option for qualifying homebuyers and homes. USDA loans can only be used to buy homes in designated locations, which typically cover rural and some suburban areas. Most of these loans aren’t directly offered through the USDA. Must have U.S.

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VA loan FHA loan Mortgages Closing costs 94

Easy Agent Pro

NOVEMBER 9, 2021

They’ll need to be pre-approved, of course. November is the month in which we celebrate our veterans, so posts about the wonders of the VA loan are always welcome. Don’t underestimate how popular VA loan posts are. In fact, check out this very cool infographic from Leonardi Real Estate in Folsom, CA.

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Agents VA loan Pre-approval Loans 116

HomeLight

AUGUST 16, 2021

The higher your score, the more likely you’ll be approved for a mortgage, and the better rate you’ll be offered. Grab your free annual credit report for all three credit bureaus (Experian, TransUnion, and Equifax) from government-approved site AnnualCreditReport.com. Apply for a pre-approval with your top choice lenders.

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Closing costs Purchase and sale agreement Inspection Loans 105

Lab Coat Agents

NOVEMBER 11, 2020

In 1944 the VA Home Loan was created to give GIs the opportunity to buy a home. However, for various reasons, black soldiers were often denied the right to use their VA Loan. In order to go this route, you will need to become a Pre-Licensee Instructor. It also puts you in the driver’s seat.

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Industrial As-is Agents Loans 98

The Close

DECEMBER 29, 2022

It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. VA loans might have a lot of red tape, but they can be excellent, affordable options for service members and their spouses. Pre-approval. Certificate of reasonable value. Related Article.

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

Marco Santarelli

AUGUST 24, 2024

Government-Backed Loans: Options like FHA, VA, and USDA loans can assist first-time buyers with lower credit scores. Pre-Approval is Crucial: Understanding your budget helps streamline your home search and secures competitive offers. What credit score do I need to qualify for a zero down payment loan?

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Loans Pre-approval Debt-to-income ratio VA loan 52

Marco Santarelli

JANUARY 20, 2025

FHA and VA Loans: Remain competitive, with FHA at 6.29% and VA at 6.06%. FHA and VA Loans: Competitive Alternatives FHA and VA loans have their advantages, especially for specific groups of borrowers. Lower rates compared to conventional loans make FHA loans appealing for first-timers.

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VA loan Mortgages FHA loan Loans 52