FHA loan Fixed-rate mortgage Pre-approval 
Redfin
JULY 30, 2025
It’s important to note, however, that your credit score influences your interest rate and loan options. Here are the minimum credit scores needed to qualify for certain loans: Conventional loans: 620-660 Jumbo loans: 700 FHA loans: 500-580 VA loans: no requirement USDA loans: typically 620, but can be lower 8.
Redfin
JULY 31, 2025
Even if you can afford the payments, adding new debt may reduce your loan approval or lead to higher interest rates. >>Discover: How to Get Pre-Approved for a Mortgage: 7 Steps for Success 7. Don’t select the first lender you find Don’t just go with the first mortgage offer you receive.
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Marco Santarelli
FEBRUARY 16, 2025
Todays Mortgage Rates February 16, 2025: Rates Hold Steady Key Takeaways Current Average Rates : 30-Year Fixed : 6.53% 15-Year Fixed : 5.87% Adjustable Rates : Competitive 5/1 and 7/1 ARMs at 6.45% and 6.40%. FHA Loans : These loans are originated by approved lenders and insured by the FHA.
Redfin
APRIL 11, 2025
When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Owning a home can also bring more financial stability , especially with a fixed-rate mortgage, as it offers predictable monthly payments, compared to rent, which can rise.
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%
Redfin
JULY 31, 2025
They cover topics like budgeting, building credit, mortgage options, house hunting, and closing. If you’re unsure where to start, check with HUD-approved counseling agencies, non-profit organizations, and local housing authorities to find available courses. FHA Loan: Designed for buyers with lower credit scores.
Norada Real Estate
JUNE 7, 2025
Notably, FHA loans have seen a more significant jump in their 30-year fixed rate. This could disproportionately affect first-time homebuyers or those with lower credit scores who often rely on these types of loans. Even a small difference in rate can save you a significant amount over the life of the loan.
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