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

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%. These payment examples are just for principal and interest.

Mortgages

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

HomeLight

MAY 14, 2025

But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards. General Tax Rate: 1.25% (No change) Clean Water Surcharge: Increases from 0.2%

As-is

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

Marco Santarelli

JUNE 17, 2025

This rate shows no change from the previous week, indicating a period of stability in the housing finance market. These loans help low-to-moderate-income buyers secure a home with lower down payment requirements. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

Mortgages

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

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

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

Marco Santarelli

FEBRUARY 16, 2025

per month (Principal & Interest) 15-Year Fixed (5.87%) : Approximately $1,296.19 per month (Principal & Interest) Monthly Payment on $200K Mortgage For a $200,000 mortgage: 30-Year Fixed (6.53%) : Approximately $1,267.99 per month (Principal & Interest) 15-Year Fixed (5.87%) : Approximately $1,728.25

FHA loan

Marco Santarelli

JULY 24, 2025

Meanwhile, VA loans offer competitive rates close to or better than conforming loans as they carry government guarantees. Calculating What These Rates Mean for Homebuyers Let’s say you are looking to buy a home priced at $350,000 with a 20% down payment ($70,000), so you finance $280,000.

Mortgages

Redfin

JULY 24, 2025

The National Association of REALTORS® shares, “Despite the current attention around buyers paying all-cash for homes, the majority of home buyers finance their home purchase. Among primary residence buyers, 74% percent financed their home purchase, a share that rises to 91% among first-time buyers. Yes, it’s possible!

Principal

Marco Santarelli

FEBRUARY 26, 2025

And look at those VA loan rates if you're eligible for a VA loan, those are some seriously attractive numbers, especially the 15-year VA at just 5.30%. But, if you're thinking shorter-term or want to pay off your house faster, check out the 15-year fixed at 5.64%. Thats a pretty significant difference!

Mortgages

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

JUNE 30, 2025

This demonstrates that different loan terms can react uniquely to market conditions. Government Loans Government-backed loans, like FHA and VA loans, offer different terms and requirements, often making them appealing to first-time homebuyers or veterans. Let's illustrate with an example.

Fixed-rate mortgage

Norada Real Estate

JULY 18, 2025

This means homebuyers and homeowners looking to finance or refinance should expect rates to remain on the higher side through at least the remainder of 2025. Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator.

Mortgages

Redfin

JULY 31, 2025

A primary residence (also known as a principal residence) is the home you live in for a majority of the time. Taxes: Homeowners may qualify for certain tax benefits, like deductions on mortgage interest and property taxes, only on their principal residence. What is a primary residence? Discrepancies can raise red flags.

Principal

Marco Santarelli

APRIL 12, 2025

A widely accepted guideline is to spend no more than 28% of gross monthly income on housing expenses, which includes principal, interest, taxes, and insurance (PITI). Determining how much mortgage one can afford involves careful consideration of income, credit score, and existing debt.

Mortgages

Marco Santarelli

JULY 18, 2025

This means homebuyers and homeowners looking to finance or refinance should expect rates to remain on the higher side through at least the remainder of 2025. Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator.

Mortgages

Marco Santarelli

JULY 31, 2025

This loan term offers faster principal repayment and lower total interest paid versus the 30-year fixed but usually comes with higher monthly payments, appealing to borrowers who want to build home equity faster. 7.63% $2,533 (initial period) *Calculation based on principal and interest only, excluding taxes, insurance, or other costs.

Mortgages

Marco Santarelli

JUNE 17, 2025

This rate shows no change from the previous week, indicating a period of stability in the housing finance market. These loans help low-to-moderate-income buyers secure a home with lower down payment requirements. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

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 22, 2025

He generally advises against FHA and VA loans due to their additional fees. Stick to a 15-year fixed-rate mortgage: Avoid the risks associated with adjustable-rate mortgages and the extra fees often tied to government-backed loans. In my experience, Ramsey's principles are spot on.

Marketing

Marco Santarelli

JULY 30, 2025

This overall steadiness occurs amid Federal Reserve signals to keep interest rates steady this summer, although small shifts in adjustable-rate mortgages (ARMs) and government loans have been noted. 15-year fixed mortgage rate: Up marginally to 5.90% for purchases; refinance 15-year fixed slightly down to 5.92%. through late 2025.

Mortgages

Marco Santarelli

JULY 29, 2025

Today's Mortgage Refinance Rates Outlook Refinancing remains an important part of the mortgage market, allowing homeowners to potentially reduce monthly payments or access equity.

Mortgages

Marco Santarelli

JULY 29, 2025

Today's Mortgage Refinance Rates Outlook Refinancing remains an important part of the mortgage market, allowing homeowners to potentially reduce monthly payments or access equity.

Mortgages

Housing Wire

NOVEMBER 7, 2023

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 loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance.

VA loan

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. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Loan officers, too, sometimes have reservations about government-financed loans.

FHA loan

Housing Wire

MARCH 27, 2024

But the VA’s current policies place veterans at a “significant disadvantage” compared to other buyers, NAR President Kevin Sears said in a letter submitted Wednesday to John Bell, executive director of VA’s Loan Guaranty Service. VA loans are probably the best loans on the market.

VA loan

Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. 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.

VA loan

Housing Wire

JUNE 5, 2025

“Afordal unites home search and financing to give buyers a clear path forward, allowing professionals to engage their customers more effectively. They can also determine their eligibility for government financing programs such FHA and VA loans, or other low- or zero-down payment loans.

VA loan

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

Realty Biz

APRIL 4, 2023

The US Department of Veterans Affairs offers all kinds of help to US military veterans, but one of the most helpful is certainly how vets looking to purchase a property can rely on the VA’s loan program to access highly affordable mortgage lending at attractive rates. What Are VA Loans?

Lending

HomeLight

NOVEMBER 20, 2023

In this post, we’ll explain how this often elusive financing option can work for you, and share expert tips on how to find an assumable mortgage attached to a home you want to buy. A qualified buyer must meet standard FHA loan requirements, such as a minimum credit score of 580 and a 3.5% Plus, the approval process can be faster.”

FHA 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

JUNE 22, 2023

Everyone’s finances and circumstances are different. The National Association of Realtors reviewed homes that were purchased between July 2019 and June 2020 in its annual Profile of Home Buyers and Sellers, and it found that within that time frame, the average first-time homebuyer put down 7% and financed the remaining 93%.

Debt-to-income ratio

HomeLight

AUGUST 31, 2021

PMI can be dropped when you reach 20% equity by paying down your loan principal. Mortgage insurance requirements: No mortgage insurance requirement, but there is a “guarantee fee” of 1% of the loan amount, and an annual fee of 0.35%. Generally, the higher your down payment, the better your rate. The funding fee ranges from 1.4%

FHA loan