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

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

Marco Santarelli

MARCH 27, 2025

Here's a quick overview: Credit Score Range Rating Impact on Mortgage Rates 700+ Excellent Lowest Rates 680-699 Good Competitive Rates 620-679 Fair Higher Rates Below 620 Poor/Risky Highest Rates, Difficulty Getting Approved It's worth noting that different types of loans have different minimum credit score requirements.

Mortgages

The Mortgage Report

JUNE 13, 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? That’s where FHA loans come in. How Much Home Can I Afford?

FHA 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. Avoid major financial changes (like buying a car or racking up debt) during the approval process.

Pre-approval

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

Marco Santarelli

DECEMBER 22, 2024

Choosing the Right Lender When looking for a mortgage lender, its advisable to apply for pre-approval with multiple companies. While it might be tempting to wait for rates to drop significantly, focusing on improving your financial position tends to be the more effective strategy for obtaining a favorable rate.

Mortgages

Redfin

JULY 30, 2025

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. Several loan options, such as FHA or VA loans, only require a down payment of 3.5%

Pre-approval

Redfin

MARCH 4, 2025

From finding houses to tour and what financing options you have, theres a lot to learn about buying a home in foreclosure. 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.

Pre-approval

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? This can make budgeting easier.

Equity

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? Check your best options to tap home equity.

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 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? Authored By: Erik J.

FHA 203k rehab loan

Marco Santarelli

JUNE 30, 2025

3, 5, 7, or 10 years), and then adjusts periodically based on a benchmark index, such as the Secured Overnight Financing Rate (SOFR) plus a margin (a fixed spread). Get Pre-Approved: Pre-approval gives you a clear idea of how much you can borrow and makes you a more attractive buyer to sellers.

Mortgages

Marco Santarelli

JULY 1, 2025

Even a small difference in interest rates can save you thousands of dollars over the life of the loan. Get Pre-Approved: Getting pre-approved for a mortgage gives you a clear understanding of how much you can borrow and strengthens your offer when buying a home.

Fixed-rate mortgage

Redfin

JULY 30, 2025

These are key criteria lenders and programs use to determine if you’re eligible for financing and special perks like down payment assistance. In this Redfin article, we’ll be going over what counts as a first-time buyer, what qualifications you’ll typically need to meet, and how to get your finances in shape for your home purchase.

Debt-to-income ratio

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%.

Mortgages

Redfin

APRIL 11, 2025

There are several financing options to choose from if youre ready to buy a starter homebut first and foremost, estimate how much house you can afford by using a home affordability calculator. Then, take a close look at your finances, including income, savings, and expenses, to assess if buying a home fits your budget.

Marketing

Marco Santarelli

MARCH 20, 2025

VA Loans – A Benefit for Veterans: Backed by the Department of Veterans Affairs, VA loans offer significant advantages to eligible veterans, active-duty service members, and surviving spouses. These loans often come with no down payment requirements and competitive interest rates.

Mortgages

Marco Santarelli

FEBRUARY 16, 2025

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. VA Loans : These loans are backed by the U.S.

FHA loan

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

Marco Santarelli

JUNE 4, 2025

For those looking to finance a home or considering a refinance, understanding these current mortgage trends is crucial. Let's dive deeper into the specifics of today's rates across different loan types and explore what these numbers mean for you. The 3-year ARM has no change reported.

Loans

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

Rochester Real Estate

NOVEMBER 5, 2015

The more assets you have, the stronger your application will be making it easier to get an approval. Debt to Equity Ratio (DTI) requirements are higher than conventional loans. Most have no pre-payment penalties. Cons Bank statement loans are only available to self-employed borrowers. Sometimes as high as 50%.

Mortgages

HomeLight

JULY 29, 2025

Consider a pre-listing inspection While it might seem unnecessary for an as-is sale, a pre-listing inspection can help identify issues early and support an accurate price. Be aware of minimum property standards for certain loans You never know whether your best offer will come from a cash buyer or a buyer pre-qualified for a home loan.

As-is

The Mortgage Report

JULY 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? So, why not just refinance?

FHA 203k rehab loan

Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan

Housing Wire

MAY 24, 2024

If you’re considering buying a home but worry that student debt will prevent you from securing a mortgage, you’ll need to be strategic about your approach to increase the probability of your application getting approved. A higher credit score is generally associated with high reliability, improving your chances of a mortgage approval.

Debt-to-income ratio

Housing Wire

JANUARY 26, 2022

For qualifying buyers, loans can be distributed in amounts up to $3 million. Currently, the fintech’s product portfolio includes conventional 15- and- 30-year fixed rate loans but the lender does not offer FHA or VA loans. Refinancing is also not an option. the fintech company said.

Mortgages

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Can you buy a house with bad credit?

Finance

Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. ” But, if an investor does not have that much cash in hand, finance is required to meet the purchase price of an investment property. Financing Turnkey Rental Properties.

Finance

HomeLight

OCTOBER 22, 2021

It’s tough to say without a mortgage approval, but it always helps to start with a home affordability calculator. You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. How much can I afford with a VA loan?

Pre-qualification

RIS Media

DECEMBER 19, 2020

Pre-qualifying for a mortgage is often the first step toward owning a home. Here’s some information that can help you to figure out how and when to apply for a loan this year: Pay Attention to Falling Rates. Other borrowers might be better served by VA loans or even conventional loans. Talk to a Lender.

Loans

HomeLight

SEPTEMBER 30, 2020

“You have to wait for the current owner’s bank to approve the short sale,” says Jessica Sanchez, Director of Underwriting and Loan Management at HomeLight. On average, you can expect a short sale to take between 60 to 90 days before you get the bank’s approval on your offer. Rate locking.

Short sale

The Close

MAY 28, 2025

620 Conventional loans FHA loans VA loans Jumbo loans Average turn time is 42 days Visit Better Mortgage Conventional: 6.75% FHA: 6.625% VA: 6.5% 620 Conventional fixed-rate loans FHA loans VA loans Jumbo loans Investment property loans Underwriting can take anywhere from a few days to a few weeks Visit U.S.

VA loan

Lab Coat Agents

NOVEMBER 20, 2024

Among the various financing options available, an assumable mortgage offers a unique solution that could lead to substantial savings. This type of mortgage allows you to take over the existing loan of the seller, often with favorable terms. This allows you to bypass many of the challenges that come with securing traditional financing.

Purchase and sale agreement

HomeLight

JULY 31, 2022

Military OneSource has numerous options for helping you navigate your current finances, manage any debt you may have, plan and budget for your future finances, and access tax breaks available to service members. a reduction in “the interest rate on any pre-service loans to a maximum” of 6%. Home Loan program.

VA loan