Marco Santarelli

APRIL 24, 2024

Mortgage rates , a crucial factor impacting your monthly payments, can add another layer of complexity. This year, rates have been on an upward climb, exceeding 7% for a 30-year fixed mortgage. In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers.

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Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. To get the best rate for your situation, be sure to look closely at each type of mortgage. Let's take a closer look.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

HomeLight

DECEMBER 27, 2023

Speaking with a mortgage lender — or several — before you buy a home shows that you’re a serious consumer, but talking with one of these experts before you sell a house also has several benefits. That starts with determining what it will take to pay off your mortgage. Learn More 1.

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Pre-approval Mortgages Equity Principal 109

Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan.

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Purchase and sale agreement Mortgages Pre-approval Title search 97

Realtor.com

APRIL 29, 2021

Yuri_Arcurs/iStock; MattKay/iStock Buying a home and getting a mortgage typically go hand in hand. Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A And make sure you’re aware of the biggest misconceptions about home mortgages.

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Pre-qualification Pre-approval Mortgages Fixed-rate mortgage 122

Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Answer: What you can afford depends on your income, credit rating, current monthly expenses, down payment, and interest rate. What Is a Mortgage Pre-Approval? What Can I Afford?

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Pre-qualification Pre-approval Closing costs FHA loan 57

Realtor.com

AUGUST 13, 2020

That’s especially true in the mortgage industry, where interest rates and the overall home loan landscape are shifting with such head-spinning speed, it’s easy for outdated information to circulate, leading home buyers and homeowners astray. 1: Everyone qualifies for low interest rates. 2: Getting a mortgage today is easy.

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Pre-approval Mortgages Loans Fixed-rate mortgage 145

Realty Biz

FEBRUARY 7, 2023

Some people will search for mortgage lenders near me if they want their bank to be nearby. Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. For example, do you want a 30-year fixed or adjustable-rate mortgage?

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Pre-approval Mortgages Pre-qualification VA loan 75

Marco Santarelli

APRIL 20, 2024

Soaring home prices fueled by historically low mortgage rates created a frenzy of buyer activity. Rising interest rates have cooled buyer enthusiasm, leading to slower sales and questions about the future. Mortgage rates are likely to remain elevated compared to historic lows, impacting affordability for some buyers.

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Marketing Pre-approval Fixed-rate mortgage New Construction 105

Redfin

DECEMBER 15, 2023

The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. If you’re a homeowner who locked in at a record-low mortgage rate, refinancing your mortgage now would be an impractical choice. What is a mortgage refinance?

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Fixed-rate mortgage Mortgages Title search Equity 66

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

Realty Biz

NOVEMBER 8, 2023

Home prices have surged to record highs, while interest rates have also increased. Prices Are Up, and So Are Mortgage Rates The news isn’t great for homebuyers right now. At the same time, the average interest rate on a 30-year fixed-rate mortgage has risen to 7.19%, according to Freddie Mac.

Fixed-rate mortgage 81

Fixed-rate mortgage Marketing Pre-approval Mortgages 81

Marco Santarelli

SEPTEMBER 22, 2023

However, it is important to keep in mind that the housing market is influenced by several factors, such as changing demographics, government policies, and mortgage rates. their mortgage balance is greater than the value of their home) may be more likely to default on their mortgages.

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Pre-approval Fixed-rate mortgage Lending Equity 98

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?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Toronto Realty Blog

APRIL 18, 2022

Because it’s a shot across the bow to anybody that is going to suggest an assumable mortgage is not a commodity that can, or will, be bought and sold with regularity in the coming months. So what if a buyer of a house could save $50,000 per year on mortgage interest? Fixed-Rate (5-year): 4.19%. Well, rate-holds!

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Fixed-rate mortgage Mortgages Purchase and sale agreement MLS 91

First Team Real Estate

JULY 24, 2020

The average 30-year fixed-rate mortgage fell to a record low of 2.98% last week, the lowest ever recorded by Freddie Mac in the nearly 50 years of the mortgage giant’s survey. The opportunity created by lower mortgage rates is driving up home buying, and helping the housing market make an impressive rebound.

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Pre-approval Mortgages Fixed-rate mortgage Closing 98

Lab Coat Agents

FEBRUARY 7, 2023

How To Get The Best Mortgage Rate You can do a few things to ensure you get the best mortgage rate possible. First, compare rates from several lenders. Types Of Mortgage Loans Several types of mortgage loans are available to borrowers, and the type that is best for you will depend on your circumstances.

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FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Realty Biz

AUGUST 28, 2023

Any purchase of hundreds of thousands of dollars - or sometimes much more, in certain situations - almost always requires either a sizable down payment or a long-term mortgage. However, trouble has been brewing on the horizon for a long time now, and the days of affordable mortgages seem to be at an end for now.

Pre-approval 91

Pre-approval Fixed-rate mortgage Lending Loans 91

Realty Biz

JULY 10, 2023

Mortgage rates have been on the rise in recent months, but that hasn't stopped home buyers from entering the market. So while mortgage rates are still creeping ever higher, home buyers are still entering the market. There are a few reasons why home buyers are still active despite rising mortgage rates.

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Mortgages Pre-approval Sales Fixed-rate mortgage 60

Lighter Side of Real Estate

OCTOBER 18, 2023

Agents believe so strongly in owning a home because it provides many benefits, such as: Building equity: When you own a home, you are gradually building equity as you pay down your mortgage. Predictable housing costs: If you have a fixed-rate mortgage, your monthly housing costs remain stable over the long term, making it easier to budget.

Pre-approval 101

Pre-approval Fixed-rate mortgage Equity Agents 101

Real Trends

JANUARY 31, 2023

I know some of my colleagues and friends on the mortgage lending side also have experience and hindsight on their side. We know the ebbs and flows and can recall even tougher rate environments. The post How to make home buying less heartbreaking appeared first on RealTrends.

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Pre-approval Fixed-rate mortgage Loans Mortgages 98

Realty Biz

JANUARY 14, 2022

Mortgage Interest Rates Remain Low. If you’re looking to buy a condo in Aspen for personal use or to rent for extra money, there’s no better time than now in terms of mortgage interest rates. This might be a terrific method to create additional income, making your property a fantastic long-term investment.

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Fixed-rate mortgage Pre-approval Mortgages As-is 97

Norada Real Estate

JUNE 22, 2022

In a conventional mortgage, the down payment is the smallest and the rate of interest is also lower. There are three basic ways to finance turnkey rental properties – Cash, Borrowing, and Loan or Mortgage. You don't need to pay a bank attorney for the mortgage. Fixed-rate mortgages.

Finance 96

Finance FHA loan Investor Loans 96

Toronto Realty Blog

JUNE 20, 2022

You’ve heard of the “interest-only mortgage,” right? So despite an 18% interest rate, the investment was actually cash-flow positive, and by a lot ! He got his ducks in a row early in the year and had a mortgage pre-approval with a 5-year, fixed rate of 2.79%. But of that $492.70

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Principal Fixed-rate mortgage Pre-approval Mortgages 97

Housing Wire

FEBRUARY 14, 2024

Soft credit pulls are a critical tool that our member mortgage loan originators use to work with underserved borrowers — particularly borrowers with credit blemishes — to improve their credit score and ultimately obtain a pre-qualification or an actual mortgage loan,” the CHLA wrote in a letter to the three credit bureaus on Wednesday.

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Pre-qualification Pre-approval Fixed-rate mortgage Loans 357

Marco Santarelli

JULY 23, 2022

People who recall the subprime mortgage crisis are concerned that the recent spike in home prices followed by a pause signals the bursting of another housing bubble. Many homebuyers may feel that obtaining a mortgage is too risky. There is a lower likelihood that a borrower would default on a mortgage.

Mortgages 52

Mortgages Marketing Lending Equity 52

Real Trends

OCTOBER 23, 2022

There have been added worries to address recently with the market experiencing a rise in mortgage rates, homes doubling in value, and lots of competition and now frequent price reductions, giving first-time homebuyers extra jitters about purchasing their dream home. . To start, let’s address high mortgage rates.

VA loan 67

VA loan Pre-approval Fixed-rate mortgage Loans 67

Realtor.com

JANUARY 19, 2022

This meant we weren’t going to back out of the deal unless there was a big, expensive-to-fix issue. Our real estate agent found us a mortgage lender that could close as quickly as an all-cash offer. Not only that, we were about to sign up for 30 years of fixed-rate mortgage payments. Realtor.com.

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Pre-approval Banks Closing Mortgages 110

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Step 1: Understand what percentage of your income should go toward your mortgage . The first step is understanding how much you can afford to spend on a mortgage. Determine your debt to income ratio (DTI).

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Debt-to-income ratio Closing costs Loans Title 70

Housing Wire

AUGUST 29, 2022

In 2021, United Wholesale Mortgage (UWM) CEO Mat Ishbia set a three-year goal to make UWM the No. Ishbia, who started running his father’s mortgage firm in 2013 and has since grown it into the country’s No. 2 lender, isn’t satisfied with second place, behind Rocket Mortgage. “I 1 lender in the country.

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Equity Loan Officer Loans Mortgages 404

Toronto Realty Blog

JANUARY 13, 2021

Rosy views on the housing market have helped drive overall household sentiment back to pre-pandemic levels even with the country dealing with a second wave of COVID-19 cases and new lockdowns. I currently have a five-year, fixed-rate mortgage approved at 1.30%. That’s not a typo: that says 1.30%.

Sales 69

Sales Pre-approval Fixed-rate mortgage MLS 69

Marco Santarelli

SEPTEMBER 30, 2023

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. FHA mortgage rates don't use risk-based pricing models, so there are no added fees or premiums for lower credit scores.

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FHA loan Mortgages Debt-to-income ratio Loans 105

Toronto Realty Blog

MAY 26, 2022

It could take five-year rates from sub-2% to upwards of 6%. Now, consider that the overnight lending rate only has a direct impact on the variable rate mortgage, whereas the fixed-rates are affected by the bond market. So here they are, looking forward to June, and their mortgage rate-hold has expired!

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Fixed-rate mortgage Purchase and sale agreement Banks Mortgages 91

Redfin

JUNE 1, 2022

The government usually combats inflation in real estate by increasing mortgage interest rates, but prices continue to rise regardless. Mortgage rates typically move in tandem with inflation. Historically, as prices went up, the Fed raised mortgage interest rates, lowering demand and bringing prices back down.

Mortgages 72

Mortgages Pre-approval Fixed-rate mortgage As-is 72

Redfin

JULY 10, 2023

According to a new Redfin study, the average rent price in Austin is $2,951, while the estimated median monthly mortgage cost is $3,801. 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.

New Construction 52

New Construction Equity Closing costs Purchase and sale agreement 52

Redfin

FEBRUARY 10, 2023

For example, if a homeowner has a mortgage balance of $200,000 on a property worth $300,000, their home equity would be $100,000. So, as you pay off your mortgage , you’ll also build equity. 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.

Equity 57

Equity Closing costs Mortgages Pre-approval 57

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. 4 Key Interest Rate Questions That Could Save Your Clients Money. Amortization.

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