Housing Wire

MARCH 1, 2021

The 30-year mortgage is easily the most popular and talked-about mortgage product out there. After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. Are you currently thinking about buying a home or refinancing your existing mortgage?

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Housing Wire

NOVEMBER 8, 2021

After completing countless Veterans Administration (VA) mortgage loan transactions over the years, Chris Pascoe, a Marine veteran turned RE/MAX agent, has developed something of a system. At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage.

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Housing Wire

MAY 25, 2021

The bill would allow borrowers to finance up to 100% of the acquisition price. Mortgages would be subject to FHA loan limits. Homebuyers would pay an up-front mortgage insurance premium of 3.6 percent of the principal, which could be financed, and would not pay a monthly insurance premium. Al Lawson (D-Fla.),

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FHA loan VA loan Loans Loan Officer 464

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

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Finance Debt-to-income ratio FHA loan Mortgages 97

Real Trends

NOVEMBER 11, 2022

Real estate professionals navigating housing in 2022 and beyond need to know their way around all the financing options available. Without knowledge of lesser-known financing choices, real estate professionals can miss the chance to turn their customers into homeowners, or sellers. . Shared equity financing.

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Realtor.com

DECEMBER 20, 2021

This money is crucial to snagging a mortgage and getting that much closer to homeownership. “The best advice that I could give is to get a couple of recommendations for loan officers in your area,” says Nathan Perkins Jr. , to 1% of your loan amount each year. Loans with no money down.

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Pre-approval Loans Loan Officer VA loan 137

HomeLight

AUGUST 31, 2021

We consulted expert Richie Helali, mortgage sales leader at HomeLight Home Loans, to walk you through the basics. It offsets the amount you need to borrow for a mortgage. Or, you can choose not to increase your purchase price and simply enjoy cheaper mortgage payments. Mortgage insurance. USDA loans.

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FHA loan VA loan Loans Loan Officer 98

Housing Wire

MAY 8, 2023

I was tired of fighting with mortgage lenders about self-employment income, high-interest rates , and dealing with scarce inventory that fit our family’s needs. To overcome the disparity in my income, my father agreed to be our co-borrower on the mortgage assumption application. You do not have to be a veteran to assume a VA loan.

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HomeLight

OCTOBER 2, 2020

Mortgages are some of the most complicated loans that you can get, and they include a number of associated fees. While a good lender, mortgage broker, or real estate agent will explain mortgage fees to you before the closing , many borrowers still find themselves surprised at the total cost. Mortgage broker fee.

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HomeLight

OCTOBER 15, 2020

Finally, you’re ready to buy that dream home and tackle this whole mortgage thing once and for all. We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? Non-conforming loans.

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Loans FHA loan Debt-to-income ratio VA loan 95

The Close

NOVEMBER 25, 2022

This is a niche with recession-proof buyers, zero percent financing, and hot leads that need to close quickly. Easy financing through VA loans. Easy financing through Department of Veterans Affairs loans is another reason. Zero interest loans are an even bigger deal in our current lending environment!

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C4D Crew

JANUARY 13, 2022

Take a look at your current debt versus your income and consider how much money you can afford on a monthly mortgage. Make sure to include everything in your estimate, including groceries and student loans. Most loans require at least a 3.5% Getting a Loan. Conventional loans are the most popular option for buyers.

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HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. Mortgage loan costs. Mortgage broker fee.

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HomeLight

AUGUST 16, 2021

First-time homebuyer loans can help make it easier on first-time homebuyers , offering access to special mortgage programs with low down payments. Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. Sound great? Sure it does!

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HomeLight

MAY 31, 2021

Before you even start looking, you’ll also need to find a mortgage lender who will determine how much house you can afford , make sure your credit is in good standing, and see what kind of loan programs will work best for you. How much mortgage do I qualify for? What type of home loans do you offer? Conventional.

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Mortgages Debt-to-income ratio Loans Closing costs 58

HomeLight

JUNE 28, 2021

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores.

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. Home financing. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ! and 1% of your loan amount, annually.

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HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

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Debt-to-income ratio Mortgages FHA loan Loans 86

Marco Santarelli

OCTOBER 6, 2023

When you start searching for mortgage options, you will probably find out that there are different types of mortgage loans to choose from for an investment property. With so many types of loans, you may most likely don't know where to begin. Let us discuss the 4 most popular types of mortgages in real estate.

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Realtor.com

NOVEMBER 28, 2022

Getty Images With mortgage interest rates near 7% and home prices hovering at a national median of $425,000, many homebuyers might be wondering how they’ll be able to pay for a property, and searching for ways to reduce costs. Here’s everything you need to know about USDA loans, and whether they’re right for you.

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Loans Mortgages FHA loan Debt-to-income ratio 95

HomeLight

NOVEMBER 29, 2021

Research and strategy are involved when deciding on a figure for a down payment, which will depend on your savings and how much you’re willing (and able) to finance. With so many DPA programs, you’ll want to consult with someone who will know them best — your loan officer. What types of mortgage loans are there?

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Realty Biz

JANUARY 19, 2024

Interviewing and selecting a buyer's agent and choosing a mortgage lender and real estate attorney are vital steps. Let's start with some detailed information and actionable tips on financing. It's crucial to clearly understand your financial health before getting a mortgage. Let's get started on your path to homeownership.

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Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

HomeLight

OCTOBER 26, 2021

Before you start shopping for your home, you will be advised by your real estate agent to choose your mortgage provider and get preapproved for a mortgage so you know what price range you can afford. But that is only a preliminary step to getting final approval for a mortgage. What is mortgage underwriting? a / Unsplash).

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HomeLight

JANUARY 31, 2022

You’re thinking about buying a house, but you aren’t sure what your mortgage loan (or monthly payment ) will look like. Still, to make your dream a reality, determining how to estimate a mortgage loan and how much you can spend is something you’re going to have to do. Source: (sarah b / Unsplash). as a down payment.

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Loans Mortgages FHA loan Principal 93

HomeLight

JUNE 19, 2023

Second mortgages Another way you can get down payment assistance is by taking out a second mortgage. Some of these DPA loans have deferred payments until you sell or refinance the home, and others are forgiven completely once you’ve lived in the home a certain number of years. The best part about these down payment grants?

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HomeLight

AUGUST 31, 2021

One particularly important decision homebuyers face is how to finance their new home. Landing a low-interest loan with minimal fees. Say a colleague just bought a new condo and scored an awesome rate on his loan. He swears it’s all thanks to the hard work of his mortgage broker. What is a mortgage broker?

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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.

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Loans Purchase and sale agreement Loan Officer Debt-to-income ratio 84

HomeLight

JUNE 30, 2022

You will want to know where you stand so you can get ahead of any potential issues and create a plan for improvement before applying for a mortgage. Your mortgage lender will check your credit score , as well as analyze your credit history. Line up financing. So you want to buy a house, but how are you going to pay for it?

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Purchase and sale agreement Inspection Earnest money deposit Closing costs 73

HomeLight

MARCH 6, 2023

Consider the following down payment assistance programs in the Bay Area: Golden State Finance Authority (GSFA) : The GSFA offers several programs that can help low-to-moderate-income homebuyers in California purchase a home by providing up to 5.5% The amount of financial assistance available depends on the type of mortgage loan you use.

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Closing Earnest money deposit Sales Title 88

HomeLight

DECEMBER 30, 2021

According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers have conventional loans, 16% have FHA loans and 14% received VA loans. After you accept an offer, the buyer’s mortgage lender typically contacts a third-party appraisal management company (AMC ).

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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. It’s generally equal to at least two months of potential mortgage payments.

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Closing costs Loans Purchase and sale agreement Earnest money deposit 102

HomeLight

MARCH 2, 2023

It’s important, especially for first-time buyers, to have someone in both the real estate side and in the mortgage side of things who will represent you and help you navigate.” There are loan programs that allow as little as 3.5% Loans are between 3%-3.5% Loans are between 3%-3.5%

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Redfin

FEBRUARY 10, 2021

In early 2021, homebuyers will remain undeterred by the pandemic, eager to take advantage of sub-3% mortgage rates while they last. Unless you want to pay Private Mortgage Insurance (PMI), you want to save up for a sizable down payment. Money that is not going against the principal of your mortgage. Save Up For a Down Payment.

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HomeLight

SEPTEMBER 30, 2021

We have all heard of putting down the traditional 20% for a mortgage down payment, but this isn’t a requirement for most loans. If you have enough savings to put 20% down, it means you’ll be able to finance less and enjoy a lower rate while you’re at it. You’ll also avoid paying private mortgage insurance , or PMI.

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Loans Pre-approval Mortgages VA loan 83

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Assumable mortgage. Acceleration clause.

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