Marco Santarelli

MARCH 31, 2025

Let's quickly touch on the different types of loans listed. Fixed-rate mortgages (like the 15-year, 20-year, and 30-year options) keep the same interest rate for the entire loan term. This means your principal and interest payment never changes, offering predictability which many homeowners value.

Mortgages

Marco Santarelli

MARCH 11, 2025

Fixed-Rate Mortgages : As mentioned, fixed-rate mortgages provide stability by locking in your interest rate for the loan's duration. This means your monthly payments for principal and interest remain the same, making it easier for you to budget over time. This amount includes principal and interest but excludes other costs.

Fixed-rate mortgage

Redfin

JUNE 13, 2025

rate, financing a $400,000 home with a typical 20% down payment, your monthly principal and interest would run about $2,050—compared to roughly $1,435 at a 4% rate (all else being equal). Lenders generally prefer a DTI below 43%, indicating you can comfortably manage loan payments. Example cost impact: At a 6.8%

Debt-to-income ratio

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? How Much Home Can I Afford? Check your HELOC options.

Equity

Redfin

JULY 15, 2025

These costs typically include: Mortgage payment (principal + interest) Property taxes Homeowners insurance Private mortgage insurance (if applicable) HOA fees (if any) To calculate the income needed for a $250,000 home, consider your down payment, interest rates, credit score, debt-to-income ratio, and local taxes and insurance.

Debt-to-income ratio

Marco Santarelli

JULY 21, 2025

Example: Impact of Mortgage Rate Changes on Monthly Payments Let’s consider a $350,000 loan for a home purchase with a 30-year fixed mortgage: At today's rate of 6.87%, the monthly principal and interest payment is roughly $2,306. If rates drop to the predicted 6.4%

Mortgages

Marco Santarelli

JUNE 17, 2025

Government Loans Government-backed loans are fantastic options, especially for first-time homebuyers or those with lower credit scores: FHA Loans : The 30-year fixed rate for FHA loans is currently 7.42% , a rise of 0.59% from last week.

Mortgages

Redfin

MARCH 3, 2025

While principal and interest make up the bulk of your payment, additional expenses like property taxes and homeowners insurance can significantly impact your total monthly cost. Example monthly payments for a $300K home (30-year loan at 6.5% FHA loans require as little as 3.5%

Mortgages

HomeLight

MAY 14, 2025

Prioritize a cash offer if you receive one On occasion, conventional lenders may even finance a fixer-upper property sold as is , and its not impossible to finance a fixer-upper with an FHA loan. General Tax Rate: 1.25% (No change) Clean Water Surcharge: Increases from 0.2%

As-is

Marco Santarelli

APRIL 2, 2025

The data also includes rates for VA and FHA loans, which are government-backed mortgages often favored by veterans and first-time homebuyers, respectively. With a 30-year loan, your monthly payments will be significantly less than if you chose a 15-year loan for the same amount.

Mortgages

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

Norada Real Estate

JUNE 24, 2025

Below are mortgage payment estimates for various loan amounts under current rates. Monthly Payment on $150,000 Mortgage For a 30-year fixed mortgage rate of 6.85% , the estimated monthly payment would be approximately $996 for the principal and interest. This payment excludes property taxes and insurance, which can vary by location.

Mortgages

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

Marco Santarelli

MAY 14, 2025

Consider Different Loan Types: Explore different loan options, such as fixed-rate, adjustable-rate, and FHA loans, to see which best suits your needs. Over the 30-year loan term, the total mortgage interest paid would be $463,176.16, bringing the total mortgage paid to $815,176.16. Property Taxes: $256.67

Mortgages

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 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

Marco Santarelli

JUNE 30, 2025

PROGRAM RATE 1W CHANGE APR 1W CHANGE 30-Year Fixed Rate FHA 7.75% up 0.51% 8.79% up 0.51% 30-Year Fixed Rate VA 6.35% up 0.08% 6.57% up 0.09% 15-Year Fixed Rate FHA 5.56% down 0.71% 6.53% down 0.71% 15-Year Fixed Rate VA 5.70% down 0.08% 6.06% down 0.06% Looking at government loans, we see the 30-year fixed rate FHA increased.

Fixed-rate mortgage

Marco Santarelli

MAY 2, 2025

Save For a Larger Down Payment: Putting down more money upfront can reduce your loan-to-value ratio (LTV), which can qualify you for a lower rate. Consider Different Loan Types: Explore different loan options, such as FHA loans (if you qualify) or adjustable-rate mortgages (ARMs), but be sure you understand the risks.

Mortgages

Redfin

JULY 16, 2025

Example scenario Let’s assume the following: Home price: $300,000 Down payment: 20% ($60,000) Loan: $240,000 with a 30-year term at 7.0% Keep in mind that smaller down payments will increase the loan amount and likely add private mortgage insurance (PMI), raising your monthly costs and requiring a higher income to qualify.

Debt-to-income ratio

Marco Santarelli

JUNE 17, 2025

Government Loans Government-backed loans are fantastic options, especially for first-time homebuyers or those with lower credit scores: FHA Loans : The 30-year fixed rate for FHA loans is currently 7.42% , a rise of 0.59% from last week.

Mortgages

Marco Santarelli

MARCH 2, 2025

This calculation accounts only for principal and interest, excluding property taxes, homeowners insurance, or any potential PMI required. Similar to the example above, this amount reflects principal and interest only, focusing on the basic mortgage cost. down payment.

Mortgages

Marco Santarelli

MAY 6, 2025

Consider Different Loan Types: Explore different loan options, such as fixed-rate mortgages, adjustable-rate mortgages (ARMs), and FHA loans, to see which one best suits your needs. This includes principal, interest, property taxes, and homeowners insurance. Negotiate: Don't be afraid to negotiate with lenders.

Mortgages

Housing Wire

JUNE 3, 2022

Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. The more recent offerings — Lakeview Trust 2022-EBO2, which closed in late April; and Lakeview Trust 2022-EBO3, set to close in early June — also involve EBO loans, according to KBRA ratings reports.

Loans

Housing Wire

MAY 25, 2021

Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.), John Katko (R-N.Y.), and Bonnie Watson Coleman (D-N.J.) Homebuyers would pay an up-front mortgage insurance premium of 3.6

FHA loan

Housing Wire

MARCH 24, 2022

The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association. Conventional loans’ national median mortgage payment went from $1,582 in January to $1,749 in February.

FHA loan

Housing Wire

NOVEMBER 29, 2023

“Under the new definition, effective for pools or loan packages submitted on or after Jan. 1, 2024, a ‘high balance loan’ is defined as a single-family forward mortgage loan with an original principal balance (minus the amount of any up-front mortgage insurance premium) that exceeds the [new] limits,” the company said in a statement.

Loans

Housing Wire

NOVEMBER 2, 2021

In 2013, the Federal Housing Administration (FHA) began requiring borrowers to pay the Mortgage Insurance Premium (MIP) for the life of an FHA loan. People have equated FHA insurance to that of private mortgage insurance used by the government-sponsored enterprises (GSEs), which is not life-of-loan.

FHA loan

Housing Wire

FEBRUARY 25, 2022

The streamlined SMART portal allows borrowers and servicers to request payoff amounts in real time for FHA partial claims or subordination checklists, which are used to refinance FHA loans.

FHA loan

Housing Wire

FEBRUARY 7, 2023

. “The little that I’ve dabbled in assumable loans, they are very difficult to maneuver,” Rochelle Gano, a Vancouver, Washington-based loan officer at Movement Mortgage , told HousingWire. Gano added that FHA loans seem “a little more workable” than the VA and USDA options.

FHA loan

Housing Wire

MAY 10, 2023

. “ Guarantee fees on loans purchased by Fannie Mae and Freddie Mac are the appropriate mechanism for investors to pay for guarantees on the timely payment of principal and interest on mortgage-backed securities, ensuring a liquid and efficient market,” Dworkin wrote. ”

FHA loan

Housing Wire

APRIL 15, 2024

Louis that compares the median home price in Nevada at the time Biden took office ($342,995) to the figure as of January 2024 ($460,000), and illustrated increases in monthly payment obligations for Federal Housing Administration (FHA) borrowers. Utilizing a 3.5% at the market interest rate of 2.82%,” Gov. Lombardo said in his letter.

FHA loan

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

JUNE 23, 2022

The national median mortgage payment for conventional loans was $1,960, down slightly from April’s $1,967, but significantly higher than a year ago, when it was $1,394 in May 2021. Federal Housing Administration (FHA) loan payments rose to $1,430 in May from the previous month’s $1,374. .

Mortgages

Housing Wire

JUNE 26, 2023

The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans. Sixteen percent of home modifications in Q1 were modifications with principal forbearance, the report said. The serious delinquency rate also decreased to 0.6%

VA loan

Housing Wire

MARCH 10, 2022

million offering of nonperforming Federal Housing Administration (FHA) loans, closed this past July and was sponsored by Waterfall Victoria Master Fund, with Carrington Mortgage Services acting as the loan servicer, according to a separate KBRA ratings report. A fourth such transaction, a $370.7

Mortgages

Housing Wire

MAY 31, 2023

A partial claim is an interest-free loan from the U.S. The remainder of the late payments are then added to the principal balance and extended for 30 years at a fixed rate. Typically, issuers implement loss mitigation by buying an FHA loan out of a Ginnie Mae pool, modifying the loan, and then selling the loan back into a pool.

FHA loan

Housing Wire

AUGUST 8, 2023

“Our higher gain-on-sale margin was primarily due to wider profit margins on our production, a shift in next favoring more profitable FHA loan, and a lower provision for loan losses,” Hayes said during the call. Regarding its servicing portfolio, the unpaid principal balance increased to $142.5 million.

Principal