Rent, Buy & Sell

JANUARY 20, 2023

Today’s Current Mortgage Rates The average APR fell on a 30-year fixed mortgage today, slipping to 6.40% from 6.57%. Meanwhile, the average APR on the 15-year fixed mortgage is 5.66%. This same time last week, the 15-year fixed-rate mortgage APR was at 5.89%. Rates are quoted as APR.

Mortgages 59

Mortgages Lending Fixed-rate mortgage Inspection 59

HomeLight

SEPTEMBER 30, 2020

A refinance is just another way of saying that you’re trading in your current mortgage loan for a new one. That said, if you want to refinance for a 15-year mortgage instead of a 30-year mortgage, or a custom length of time, many mortgage lenders can and will be flexible with your terms. Source: (Mark Finn / Unsplash).

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Realtor.com

JANUARY 26, 2023

When Joseph moved in, he noticed the HVAC system, plumbing, and electrical wiring were in need of some costly repairs as he’d skipped having them inspected. Joseph, founder of Parental Queries , a website devoted to pregnancy and child rearing, has since had trouble keeping up with his mortgage payments.

Marketing 91

Marketing Fixed-rate mortgage Closing costs Mortgages 91

Redfin

JULY 14, 2023

Stable monthly payments One of the biggest advantages to buying a home in Birmingham with a fixed-rate mortgage is that you’ll have the same monthly mortgage payment throughout the duration of your mortgage. Maintenance costs With homeownership comes the added responsibility of maintaining your home and property.

Equity 47

Equity Fixed-rate mortgage Closing costs Inspection 47

Realty Biz

AUGUST 22, 2022

Overall, high mortgage rates, tight credit conditions, fixed-rate mortgages, and good employment rates should protect the housing market from a crash. Sellers can expect to negotiate prices, undergo home inspections, and agree to professional appraisals. Consider Appealing Upgrades.

Fixed-rate mortgage 88

Fixed-rate mortgage Construction Sales Mortgages 88

HomeLight

JANUARY 27, 2021

You can usually shop around for the home inspection , title and settlement services, and home insurance. Fixed-rate mortgages are more predictable, and they work better for buyers who plan to be in the home for a longer period of time. Adjustable-rate interest. Definitely include an inspection contingency.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

Realtor.com

JANUARY 19, 2022

We waived the traditional home inspection and instead asked for one that would evaluate the structural and engineering components of the home, such as the roof, boiler, foundation, electrical, and plumbing. This meant we weren’t going to back out of the deal unless there was a big, expensive-to-fix issue. So we put in our offer.

Pre-approval 110

Pre-approval Banks Closing Mortgages 110

HomeLight

AUGUST 31, 2021

That may be around the same or double what you’ll pay again in closing costs when you eventually get a mortgage on the house. Finally, even if — perhaps especially if — the home is to be sold as-is, or if you’ll be responsible for the cost of maintenance and repairs during your rental period, do not skip the home inspection.

Purchase and sale agreement 122

Purchase and sale agreement Due diligence Closing costs Mortgages 122

HomeLight

JUNE 14, 2023

Escalation clauses were especially popular from mid-2020 to mid-2022 when low interest rates and the pandemic’s emphasis on home drove housing demand through the roof. Even though, as of this writing, mortgage interest rates are at 6.4% Since then, they’ve become less prevalent but are still fairly common.

Finance 68

Finance Agents Proof of funds As-is 68

HomeLight

JUNE 9, 2023

But you have more questions: “When does the inspection happen? The interest rate for fixed-rate mortgages does not change over the life of the loan. The only way your interest rate would change is through refinancing. Fixed-rate mortgages make it easy to budget and know exactly how much you owe.

Title 104

Title Loans Title search Fixed-rate mortgage 104

HomeLight

JUNE 22, 2023

A: Your mortgage rate (also known as your interest rate) is the interest that your lender charges you for extending you the loan, and you will have to pay it back in addition to the loan principal. Q: Should I get a fixed-rate or adjustable-rate mortgage? Q: How long will it take to close on a home?

Debt-to-income ratio 86

Debt-to-income ratio Mortgages FHA loan Loans 86

Realtor.com

MARCH 22, 2021

And, just maybe, buyers may no longer be pressured to do things that over a year ago would have seemed ludicrous: waiving inspections, agreeing to pay closing costs, and sometimes buying homes across the country via video calls, sight unseen. What resulted was the lowest interest rates we’ve ever seen.

Marketing 145

Marketing Fixed-rate mortgage Construction Mortgages 145

HomeLight

MAY 31, 2022

Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. Nevertheless, despite rising interest rates and creeping inflation, the housing market continues to enjoy favorable pricing, largely due to low inventory. from March 2022 to April 2022, a nearly 27% drop from a year ago.

Seller concession 121

Seller concession Closing costs Staging Sales 121

Real Estate Finance HQ

AUGUST 25, 2017

Mortgage Insurance. Interest Rates. Mortgage Limits. Home Inspection Guidelines. Credit Score: FHA loans feature very lenient credit requirements; the following score ranges should give you an idea of what you can qualify for: 500 and below: likely cannot get an FHA mortgage. Home Inspection Guidelines.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40

Redfin

FEBRUARY 10, 2023

Stable monthly payments When you buy a home with a fixed-rate mortgage, you lock in your monthly housing expenses for the life of your mortgage. For example, when buying a home, you will need to come up with a down payment, closing costs, and often pay for property inspections, insurance, and other associated fees.

Equity 56

Equity Closing costs Mortgages Pre-approval 56

Redfin

JULY 10, 2023

Stable monthly payments Buying a home with a fixed-rate mortgage means that your monthly mortgage payments stay the same over the duration of your mortgage. While other monthly expenses may fluctuate, you’ll have peace of mind that your mortgage payments will stay stable.

New Construction 51

New Construction Equity Closing costs Purchase and sale agreement 51

HomeLight

MARCH 22, 2022

They could include a home inspection fee, title search, and mortgage origination fee. NC Home Advantage Mortgage. The state’s Housing Finance Agency supports many new homebuyers with its NC Home Advantage Mortgage. There is so much attention on down payments that we often forget their pesky cousin — closing costs.

Due diligence 88

Due diligence Closing costs Earnest money deposit Loans 88

HomeLight

AUGUST 25, 2020

If you have a mortgage on your home, your housing payment will be the same every month — but in the first couple of years, the vast majority of that overall payment will likely go toward interest and will barely touch the principal balance. Inspection and repair fees (varies). The standard 5% – 6% Realtor commissions for the sale.

Principal 68

Principal Equity Seller concession Title 68

The Close

DECEMBER 29, 2022

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Don’t you love it when the co-borrower is the client’s dad who comes along on the inspection and is suddenly an expert on chimney engineering? Got Clients With Interest Rate Questions?

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97

HomeLight

NOVEMBER 29, 2021

Many VA loans offer a 30-year fixed-rate mortgage loan, competitive interest rates, and generally require no down payment. A professional can also help you navigate the inspection and closing process and with any number of other needs. Veterans Administration loans.

Land 89

Land Closing costs Purchase and sale agreement Loans 89

Marco Santarelli

AUGUST 2, 2020

About 1 percent of Redfin customers waived either a financing or inspection contingency last month. It seems they want to cash in on the opportunity to purchase their favorite properties amid a historically low-interest rate of 3.3 percent on a 30-year fixed-rate mortgage. percent in May, from 6.1 months to 5.4.

Marketing 142

Marketing Sales Pre-approval Investor 142