The Mortgage Report

JUNE 9, 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? Yes, prices rose about 3.4%

FHA 203k rehab loan

Redfin

JUNE 27, 2025

Not getting pre-approved for a home loan before starting your search A common mistake for first-time homebuyers is jumping into the search without first getting pre-approved for a mortgage. Options like FHA loans , VA loans , and USDA loans offer low down payments and more lenient credit guidelines.

Pre-approval

The Mortgage Report

JUNE 10, 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?

FHA 203k rehab loan

The Mortgage Report

JUNE 17, 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?

FHA 203k rehab loan

The Mortgage Report

JULY 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? How Much Home Can I Afford? In May, active listings rose 31.5%

FHA 203k rehab loan

The Mortgage Report

JULY 2, 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?

FHA 203k rehab loan

The Mortgage Report

JULY 14, 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? Requires Lender Approval? How Much Home Can I Afford?

FHA 203k rehab loan

The Mortgage Report

JUNE 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? How Much Home Can I Afford?

FHA 203k rehab loan

The Mortgage Report

JULY 1, 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? Meanwhile, FHA loans comprised 15.3%

Loans

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? How Much Home Can I Afford?

FHA 203k rehab loan

Redfin

MARCH 4, 2025

If the auction accepts financing, make sure you have a pre-approval ready. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans. If a buyer with a government-backed loan goes into foreclosure, the government will take control of the property.

Pre-approval

The Mortgage Report

JUNE 12, 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? Verify your VA loan eligibility.

VA loan

The Mortgage Report

JULY 8, 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? Approval is similar to a home equity loan , though.

Equity

The Mortgage Report

JULY 21, 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? Keep in mind that lenders don’t have to approve a release.

FHA 203k rehab loan

Redfin

JUNE 13, 2025

Lenders generally prefer a DTI below 43%, indicating you can comfortably manage loan payments. If your ratio is higher, explore loan options like VA or FHA loans that accept higher DTIs. Proof of income and employment: To approve your loan, lenders will review your income and financial stability.

Debt-to-income ratio

The Mortgage Report

JULY 15, 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? Your interest rate and loan balance don’t change.

FHA 203k rehab loan

BAM Media

APRIL 3, 2025

1: Foreclosures & Bankruptcies Still Below Pre-Pandemic Levels Consumers still worry that were heading for a repeat of the Great Recession of 2008. People who cannot realistically afford a home are far less likely to be approved for a loan. And at 3.53%, its still below pre-pandemic levels.

Bankruptcy

Redfin

JULY 23, 2025

VA loans , available to eligible veterans and active-duty service members, require no down payment and no PMI. Other options like FHA loans or certain first-time homebuyer programs allow down payments as low as 3%, though they may still include mortgage insurance and stricter debt limits. However, there are exceptions.

Debt-to-income ratio

The Mortgage Report

JULY 7, 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?

Equity

The Mortgage Report

JUNE 16, 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?

FHA 203k rehab loan

The Mortgage Report

JULY 10, 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?

Equity

The Mortgage Report

JULY 22, 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?

FHA 203k rehab loan

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.

Pre-approval

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. These require a higher credit score and must fall within conforming loan limits. FHA Loan: Require only 3.5%

VA loan

Redfin

JULY 2, 2025

Probationary period If your new job has a probationary or trial period, lenders may wait until it’s over before approving your mortgage. Some may approve with conditions or ask for additional income documentation. Exceptions: Special loan programs for recent job changes Some loan types are more flexible than others: 1.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

For example, if you use a bank for your loan you may already have a pre-existing relationship with them and they sometimes offer very competitive interest rates. Have you tried calling a bank on a Saturday night to get a pre-approval letter? The waiting period will vary based on the type of loan and the lender.

Finance

The Mortgage Report

JUNE 23, 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?

FHA 203k rehab loan

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

Redfin

JULY 15, 2025

Explore homebuyer assistance programs: Some state and local governments offer grants or favorable loan terms for first-time home buyers. Get pre-approved early: It helps set your budget and makes you more competitive when you’re ready to buy. What if my DTI is 43%?

Debt-to-income ratio

The Mortgage Report

JULY 28, 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?

FHA 203k rehab loan

Marco Santarelli

MARCH 5, 2025

Navigating the Housing Market in 2025: Key Strategies To navigate the housing market successfully in 2025, consider these strategies: Get Pre-Approved: Knowing how much you can afford will save you time and effort. Save for a Larger Down Payment: A larger down payment reduces your loan amount and monthly payments.

Mortgages

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.

Marketing

Marco Santarelli

JULY 11, 2025

Consider Different Loan Types: Explore fixed-rate, adjustable-rate, and FHA loans. Get Pre-Approved: This shows sellers that you’re a serious buyer. Save for a Larger Down Payment: This reduces the risk for the lender. Shop Around: Get quotes from multiple lenders.

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

Redfin

JULY 31, 2025

If you’re unsure where to start, check with HUD-approved counseling agencies, non-profit organizations, and local housing authorities to find available courses. Loan types for first-time homebuyers include: Conventional Loan: Offers flexible down payment options as low as 3% with private mortgage insurance (PMI).

Purchase and sale agreement

Redfin

MARCH 4, 2025

The difference between these two accounts is that traditional 401(k) contributions are pre-tax, so youll be taxed once taking them out. Here are some factors to consider: Pros of buying a home with 401(k) funds Easier qualification process: With most loans, theyll examine your finances and run a credit check in order to approve the loan.

Debt-to-income ratio

Redfin

JULY 16, 2025

Credit score Higher credit scores qualify for lower rates and better loan terms. Lower scores might still be approved but often come with higher rates and mandatory PMI. Explore homebuyer assistance programs: Some state and local governments offer grants or favorable loan terms for first-time home buyers. What if my DTI is 43%?

Debt-to-income ratio