Marco Santarelli

JULY 31, 2025

This loan term offers faster principal repayment and lower total interest paid versus the 30-year fixed but usually comes with higher monthly payments, appealing to borrowers who want to build home equity faster. 7.63% $2,533 (initial period) *Calculation based on principal and interest only, excluding taxes, insurance, or other costs.

Mortgages

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

VA loan

Housing Wire

MARCH 29, 2024

The first is for the HECM anti-churning disclosure, which is designed to protect borrowers from unnecessary loan refinancing. These include wholesale revisions to the lender table for the best estimate of the total cost of the refinancing to the borrower, as well as increases to the borrower’s principal limit.

Mortgages

Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan

HomeLight

DECEMBER 8, 2023

An assumable mortgage is a type of home loan transaction that allows a new buyer to take over the seller’s existing mortgage. Instead of securing a new mortgage, the buyer takes over where the seller left off, literally “assuming” the remaining principal balance, repayment period, and other terms.

VA loan

McKissock

FEBRUARY 13, 2023

Don’t miss this FREE update on VA appraisal topics on Wednesday, February 22nd from 11am-12pm ET. He was an independent fee appraiser on the VA panel for over 9 years prior to his current position. He is the principal expert for all matters related to residential property appraisals and valuation solutions at Veros. Sign up now.

VA loan

HomeLight

AUGUST 26, 2020

If you continue to pay $1,250, that extra $250 will go toward your principal balance, the amount still owed on your loan, which means the loan will get paid off faster. USDA Streamlined Assist Refinance Loans. VA IRRRL (interest rate reduction refinance loan).

Fixed-rate mortgage

Lab Coat Agents

NOVEMBER 20, 2024

If you are the buyer, this means you inherit the loan’s principal balance, interest rate, and repayment terms. When you assume a mortgage, you do not apply for a new loan rather take over the existing owner’s loan. This allows you to bypass many of the challenges that come with securing traditional financing.

Purchase and sale agreement

HomeLight

JUNE 22, 2023

Conventional loan To get a conventional loan , you’ll need to go to a private financial institution, which include banks, credit unions, and mortgage companies. The loans offered by these institutions aren’t backed by a government agency, like an FHA loan or a VA loan would be. It usually costs between 0.5%

Debt-to-income ratio

Redfin

SEPTEMBER 6, 2024

This percentage covers the principal, interest, property taxes, and homeowners insurance. Additionally, the rule suggests that your total debt payments, including your mortgage, credit cards, and other loans, should not exceed 36% of your gross income. Loan type and terms Different types of loans have varying requirements and terms.

Debt-to-income ratio

HomeLight

NOVEMBER 10, 2021

An FHA loan , for example, requires a minimum of 3.5% A USDA home loan , which is available for rural and some suburban areas, might not require a minimum down payment at all. The same holds true for VA loans for military families. Forgivable loans are fully forgivable if you meet all the criteria. Home loans.

Closing costs

Redfin

AUGUST 12, 2024

As a borrower, you’re entering a legal contract to repay your loan, with interest, over a set amount of time. Your monthly mortgage payment generally consists of four components: Principal : The amount of money you borrow to buy the home. Interest : The cost of borrowing the money, calculated as a percentage of the principal.

Loans

HomeLight

DECEMBER 30, 2021

It’s very possible to secure a mortgage with just 3% down — even if you’re a first-time homebuyer — and there are viable options for zero down payment loans, too. The advantages of putting more money down include a smaller loan principal , a potentially lower interest rate , and a better chance of avoiding mortgage insurance (MI).

VA loan

McKissock

FEBRUARY 13, 2023

Meet the presenters James Heaslet Serving as the Chief Appraiser for the Veterans Affairs (VA) Loan Guaranty Service since 2018, James is responsible for developing and overseeing policies and regulations for the VA Construction and Valuation department. View Pro-Series webinars.

VA loan

C4D Crew

SEPTEMBER 5, 2024

This cost-effectiveness, combined with the flexibility in design options, makes prefab homes a practical solution for many living in the Star of the North. Prefabricated tiny homes are smaller structures designed to maximize space efficiency that can be built on trailers or stationary foundations. These laws vary by municipality.

Land

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. What is a mortgage? How does a mortgage work?

Pre-approval

HomeLight

NOVEMBER 29, 2021

First-time homebuyers can apply for a forgivable loan of up to $15,000 to assist with closing costs and down payment or principal reduction. It is a one-time loan, from which: A total of $5,000 can be applied toward closing costs; The remaining money must be applied toward your down payment; and. Veterans Administration loans.

Land

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.

Loans

HomeLight

OCTOBER 29, 2021

Conventional loans closed in an average of 47 days in July 2021, while FHA loans took 51 days, and VA loans required an average of 52 to close. The title review (see Step 2) is designed to catch these issues, and title insurance protects you if the search didn’t uncover a problem. Interest rate.

Closing

HomeLight

MAY 27, 2021

USDA loans are only available in specific areas, usually rural regions, and there is an income cap that varies by location. Designed for veterans, active-duty military, and qualifying spouses, VA-backed loans often require no down payment. With an FRM, the interest rate stays the same for the life of the loan.

Loans

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. This includes principal, interest, property taxes, and homeowners insurance. Be careful!

Mortgages

Housing Wire

DECEMBER 10, 2024

This includes marketing GinnieMae securities to global investors and conducting oversight of the 300-plus companies that issue Ginnie Mae securities backed by FHA, [the Rural Housing Service (RHS)], and [ Department of Veterans Affairs (VA)] loans.

VA loan

HomeLight

JUNE 30, 2021

A low interest rate means you’ll pay less interest on your principal over the life of the loan. Because you’re taking out a bigger mortgage loan, you’ll be making larger monthly payments. USDA loan. Department of Agriculture loan is a zero-down mortgage option for qualifying homebuyers and homes. Must have U.S.

VA loan

RIS Media

MAY 24, 2021

It’s important to note that there are loans without a down payment requirement: USDA loans, for borrowers buying in designated markets (generally rural), and VA loans, for eligible service members and veterans. Closing Costs. – Appraisal fee. – Credit check fee. – Title insurance.

Closing costs

HomeLight

AUGUST 27, 2020

There are still some federally-backed mortgage programs designed for first-time homebuyers that can help. These federal loans often have less restrictive qualification requirements and often are more affordable than other mortgage options. Check out this map to find the loan limit for your area.

VA loan

The Close

DECEMBER 29, 2022

How else would you and your clients understand how much is being paid in principal and interest over the years? Clients may be confused about the difference between an interest rate on their mortgage loan and an APR. It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan.

Purchase and sale agreement

HomeLight

FEBRUARY 14, 2022

Fannie Mae’s HomeReady loan program and some other conventional loans can be approved with as little as 3% as a down payment, although 20% is required to avoid paying private mortgage insurance (PMI). USDA loans and VA loans are popular because they offer zero percent down for eligible buyers.

Loans

Marco Santarelli

DECEMBER 15, 2024

FHA and VA loan limits could increase in response to rising home prices, enabling buyers to access financing for more expensive homes. Partner with Norada, Your Trusted Source for Turnkey Investment Properties Discover high-quality, ready-to-rent properties designed to deliver consistent returns.

Mortgages

Marco Santarelli

MARCH 21, 2025

For eligible borrowers, FHA and VA loans continue to offer attractive interest rates. These government-backed loans are designed to make homeownership more accessible, particularly for first-time homebuyers and veterans. This example demonstrates how a larger loan directly translates to a higher monthly obligation.

Mortgages

Marco Santarelli

MARCH 21, 2025

For eligible borrowers, FHA and VA loans continue to offer attractive interest rates. These government-backed loans are designed to make homeownership more accessible, particularly for first-time homebuyers and veterans. This example demonstrates how a larger loan directly translates to a higher monthly obligation.

Mortgages