Marco Santarelli

MARCH 16, 2025

For those who qualify for a VA loan , which is a fantastic benefit for veterans, active-duty military, and eligible surviving spouses, the rates are generally a bit lower. The 30-year VA is at 6.15% , and the 15-year VA is even lower at 5.59%. It's a big decision, and understanding today's refinance rates is key.

Mortgages

Marco Santarelli

MARCH 20, 2025

15-Year Fixed: If you're looking to build equity faster and save on interest , a 15-year fixed mortgage is a solid option. Be prepared for higher monthly payments compared to a 30-year loan. These loans often come with no down payment requirements and competitive interest rates. Important Note: These are illustrative examples.

Mortgages

Redfin

JULY 24, 2025

Establishes the buyer’s immediate equity in the property. Reduces the mortgage principal, leading to lower monthly payments and total interest over time. Acts as a risk mitigant for lenders by lowering the loan-to-value (LTV) ratio. You’re not buying a new home; you’re replacing your existing loan.

Principal

Marco Santarelli

MARCH 27, 2025

VA Loans: Continue to offer potentially lower rates for eligible military-affiliated borrowers. The 30-year VA loan rate is at 6.14%. FHA Loans: May provide lower rates than conventional loans, but typically involve mortgage insurance payments for the duration of the loan.

Mortgages

Redfin

JULY 30, 2025

This way, you’ll have a chance to build equity. The longer you own your home, the more equity you’ll build, leading to greater financial return when you decide to sell your home. >> Several loan options, such as FHA or VA loans, only require a down payment of 3.5% How much is a down payment on a house?

Pre-approval

Marco Santarelli

JUNE 17, 2025

Exploring Other Mortgage Options In addition to fixed-rate loans, various mortgage options cater to different financial situations and risk profiles. These loans help low-to-moderate-income buyers secure a home with lower down payment requirements. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

Mortgages

Redfin

JULY 30, 2025

Loans and programs for first-time buyers Loan Who qualifies Minimum down payment Minimum credit score Key qualifications Conventional loans Borrowers with good credit and stable income 3% 620 Strong credit, steady income, low DTI ratio FHA loans Borrowers with lower credit scores and limited savings 3.5%

Debt-to-income ratio

Norada Real Estate

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. This example shows the trade-off between loan term and interest cost.

Norada Real Estate

JULY 18, 2025

Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator. For example: Conforming loans or loans meeting Fannie Mae/Freddie Mac guidelines have different structural rates than government-backed loans such as FHA or VA loans. annually as of recent BLS data.

Mortgages

Marco Santarelli

JULY 18, 2025

Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator. For example: Conforming loans or loans meeting Fannie Mae/Freddie Mac guidelines have different structural rates than government-backed loans such as FHA or VA loans. annually as of recent BLS data.

Mortgages

Marco Santarelli

JUNE 17, 2025

Exploring Other Mortgage Options In addition to fixed-rate loans, various mortgage options cater to different financial situations and risk profiles. These loans help low-to-moderate-income buyers secure a home with lower down payment requirements. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

Mortgages

Marco Santarelli

MAY 22, 2025

He generally advises against FHA and VA loans due to their additional fees. More Home Equity: Homeowners today typically have more equity in their homes compared to the pre-2008 period, providing a buffer against potential price declines. In my experience, Ramsey's principles are spot on.

Marketing

Marco Santarelli

JULY 29, 2025

Today's Mortgage Refinance Rates Outlook Refinancing remains an important part of the mortgage market, allowing homeowners to potentially reduce monthly payments or access equity. As of today, the 30-year fixed refinance rate slightly decreased by 3 basis points this Tuesday to 7.08%, but remains 2 basis points higher than last week.

Mortgages

Marco Santarelli

JULY 29, 2025

Today's Mortgage Refinance Rates Outlook Refinancing remains an important part of the mortgage market, allowing homeowners to potentially reduce monthly payments or access equity. As of today, the 30-year fixed refinance rate slightly decreased by 3 basis points this Tuesday to 7.08%, but remains 2 basis points higher than last week.

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

Housing Wire

MARCH 29, 2024

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgages

Housing Wire

JUNE 5, 2025

They can also determine their eligibility for government financing programs such FHA and VA loans, or other low- or zero-down payment loans. Tools for real estate professionals For agents and loan officers, Afordal offers customer insights and prioritization tools.

VA loan

Housing Wire

DECEMBER 3, 2020

Even when the inherited property is being used as a principal residence, if it is sold for $1 million more than the property’s taxable value, the property assessment will increase. For example, senior citizens don’t have to “succumb to a reverse mortgage” and can instead sell their home and retain equity, she said.

VA loan

Housing Wire

AUGUST 26, 2022

HousingWire: Should originators focus on any specialty mortgage products such as home equity lines of credit or non-QM? Both HELOCs and non-QM loans are made to order for today’s mortgage market. Equity can be used for any number of purposes, including home improvements. Lee Smith: Definitely.

Mortgages

Housing Wire

OCTOBER 9, 2020

million homeowners remain in COVID-19-related forbearance plans, representing $614 billion in unpaid principal. In the week prior, portfolio-held and private labeled security loans were largely responsible for the slight increase, with forbearance share gaining to 7.3% for a total of 28,000 new loans in forbearance. As of Oct.

Loans

Housing Wire

OCTOBER 24, 2022

Unlike Fannie and Freddie, however, Ginnie does not purchase loans. Ginnie guarantees only the principal and interest payments to purchasers of its bonds, which are sold worldwide. The main mitigating factor is the still-huge amount of equity most buyers have in their homes. billion; Home Point Financial Corp., billion, 6.2%

Principal

Calculated Risk Real Estate

NOVEMBER 4, 2024

Press Release: ICE Mortgage Monitor: Record Levels of Tappable Equity, Fed Rate Cuts Could Spur Resurgence in Home Equity Withdrawals As of the end of Q3 2024, U.S. in equity, of which $11.2T in equity, of which $11.2T in equity, of which $11.2T in equity, of which $11.2T mortgage holders held $17.2T

Mortgages

Point2Homes

DECEMBER 15, 2021

As a result, you will need to meet the lender’s requirements when it comes to credit score and credit history, income and debt-to-income ratio to qualify for a loan. Once the lender approves your mortgage assumption application, you will take over the title of property as well as the seller’s remaining principal balance. In the U.S.,

Debt-to-income ratio

HomeLight

AUGUST 26, 2020

Use the equity in your home. The real estate market is always changing, and if your home has increased in value , you may want to consider refinancing and tap into the equity in your home. However, if you only have 10% equity, they’re likely to make a market analysis comparison to determine if an appraisal is necessary.”.

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. One significant concern is that the seller may have a substantial amount of equity in the home.

Purchase and sale agreement

HomeLight

AUGUST 31, 2021

PMI can be dropped when you reach 20% equity by paying down your loan principal. Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. Generally, the higher your down payment, the better your rate.

FHA 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

Realty Biz

MAY 19, 2022

Most people buy their homes with the assistance of mortgages or VA loans. Down payments can vary depending on the terms of your mortgage or loan, ranging anywhere from 5% to 20%. While you can build equity by owning a home, renting comes with advantages. Do I have enough money saved? What are the advantages of renting?

Purchase and sale agreement

Redfin

NOVEMBER 18, 2020

A mortgage loan has 3 components: Principal : The principle is the difference between the home’s final purchase price and the amount of your down payment. For example, if you provide $20,000 as a downpayment for the home you plan to buy for $200,000, your principal loan amount would be $180,000. .

Mortgages

Realty Biz

JUNE 15, 2022

Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Department of Veterans Affairs (VA) loan. Check with your loan officer to see if you qualify for any first-time buyer programs. Department of Agriculture (USDA) or U.S.

Debt-to-income ratio

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

HomeLight

MAY 31, 2021

In fact, buying your own home builds up equity that you can use in the future, and properties generally increase in value over time, which makes homeownership a smart long-term investment. Not all lenders have them, but if you want to pay your loan off early, it’s better to not pay your lender for the privilege! Recast your mortgage.

Mortgages

HomeLight

JULY 7, 2022

If you can’t afford a 20% down payment on your home and apply for a conventional loan, you’ll have to have private mortgage insurance (PMI) to cover the costs, or just plain mortgage insurance for a government loan (FHA loans or VA loans , for example). PMI will typically cost between 0.5%

Debt-to-income ratio

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

Windemere Buying

SEPTEMBER 12, 2022

If you put down $100,000, or 20 percent, that would leave a $400,000 mortgage principal. It also means your monthly payments will be lower since your loan balance is smaller. The benefit of PMI is that it creates a pathway to homeownership by allowing you to move in and start building equity right away.

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

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. and 1% of your loan amount, annually. to 1% of the loan amount annually. Know your loan types.

Closing costs