Marco Santarelli

APRIL 24, 2024

In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers. The Refinance Rescue: Potential Savings Down the Line Here's a silver lining: even if you buy a home now with a higher interest rate, you're not locked into that rate forever.

Pre-approval 52

Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Housing Wire

SEPTEMBER 22, 2022

Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment. Will Savage, a loan originator at PMC Mortgage , sees many pre-approved clients having to get reapproved for a mortgage based on the rate increases.

Mortgages 420

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 420

HomeLight

DECEMBER 27, 2023

Most mortgage payments may include homeowners insurance, taxes held in an escrow account, and private mortgage insurance premiums if required by your particular loan. Even with a fixed-rate mortgage, your total monthly payment can change.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Marco Santarelli

APRIL 20, 2024

The overall supply is likely to remain below pre-pandemic levels. Tips to Buy & Sell a Home in These Next 2 Years: Buyers: Conquering the Market in Higher-Rate Times The rise in mortgage rates presents challenges for buyers, but there are still strategies to navigate this market: Get Pre-Approved: Knowing your budget upfront is crucial.

Marketing 105

Marketing Pre-approval Fixed-rate mortgage New Construction 105

Realty Biz

NOVEMBER 8, 2023

At the same time, the average interest rate on a 30-year fixed-rate mortgage has risen to 7.19%, according to Freddie Mac. These high prices and interest rates have made it difficult for many buyers to qualify for a mortgage. This is up 8.4% from a year ago.

Fixed-rate mortgage 81

Fixed-rate mortgage Marketing Pre-approval Mortgages 81

Marco Santarelli

SEPTEMBER 22, 2023

Get pre-approved for a mortgage before you start shopping for a home : This will help you to understand how much you can afford to borrow and to make sure that you are qualified for a mortgage. It is important to get pre-approved before the market gets really hot, as it may be more difficult to get pre-approved later on.

Pre-approval 98

Pre-approval Fixed-rate mortgage Lending Equity 98

Realty Biz

MARCH 30, 2023

There are fixed-rate mortgages, adjustable-rate mortgages, hybrid loans, reverse mortgages, and FHA loans that all come with varying interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

Realtor.com

APRIL 29, 2021

To avoid this fate, make sure to crunch your numbers in our mortgage calculator or a home affordability calculator , and apply for mortgage pre-approval to see just where you stand in terms of how much house you can afford. And make sure you’re aware of the biggest misconceptions about home mortgages.

Pre-qualification 122

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

Realty Biz

AUGUST 12, 2023

Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan. Adjustable-Rate Mortgage (ARM) : A mortgage in which the interest rate can change periodically based on changes in a corresponding financial index.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Realtor.com

AUGUST 13, 2020

1: Everyone qualifies for low interest rates. There’s a lot of buzz about record-low mortgage interest rates lately. Most recently, a 30-year fixed-rate mortgage dropped to 2.88% for the week of Aug. Mortgage pre-approval is all the more essential in the era of the coronavirus pandemic.

Pre-approval 145

Pre-approval Mortgages Loans Fixed-rate mortgage 145

Redfin

DECEMBER 15, 2023

In 2020, interest rates took a sharp dive as the Federal Reserve sought to stave off economic collapse amid the pandemic. The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%.

Fixed-rate mortgage 69

Fixed-rate mortgage Mortgages Title search Equity 69

Realty Biz

FEBRUARY 7, 2023

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? A fixed-rate mortgage will give you more stability if you stay in the home longer.

Pre-approval 75

Pre-approval Mortgages Pre-qualification VA loan 75

Lab Coat Agents

FEBRUARY 7, 2023

The most common types of mortgages are: 30-year fixed-rate mortgage: With this type of loan, the interest rate remains fixed for the entire term, typically 30 years. This makes for predictable monthly payments and means you won’t have to worry about your rate going up in the future.

FHA loan 96

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

Redfin

JULY 11, 2023

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. How does the mortgage pre-approval process work?

Pre-approval 59

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

Realty Biz

AUGUST 28, 2023

Either way, however, there are some things that you can do that will increase your chances of success during this time of historically high mortgage rates. They include: Get pre-approved for a mortgage. Shop around for the best interest rate. Consider an adjustable-rate mortgage (ARM).

Pre-approval 91

Pre-approval Fixed-rate mortgage Lending Loans 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.

Pre-approval 98

Pre-approval Mortgages Fixed-rate mortgage Closing 98

Lighter Side of Real Estate

OCTOBER 18, 2023

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. Your agent can connect you to lenders who can pre-approve you for a mortgage so you can determine how much you can afford to spend.

Pre-approval 98

Pre-approval Fixed-rate mortgage Equity Agents 98

Real Trends

JANUARY 31, 2023

As rates continued to climb month after month throughout 2022, ending the calendar year at 6.42% for a 30-year fixed rate mortgage per Freddie Mac’s Primary Mortgage Market Survey, many young buyers decided to put the pause on their home search.

Pre-approval 98

Pre-approval Fixed-rate mortgage Loans Mortgages 98

Toronto Realty Blog

APRIL 18, 2022

As has been widely discussed, the Bank of Canada raised the overnight lending rate by 50 basis points last week, on the heels of a 25 basis point increase last month. The 5-year, fixed-rate mortgage isn’t affected by the overnight lending rate, but rather the variable is. Fixed-Rate (5-year): 4.19%.

Fixed-rate mortgage 91

Fixed-rate mortgage Mortgages Purchase and sale agreement MLS 91

Realty Biz

JANUARY 14, 2022

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. As of May 13, the rate on a 30-year fixed-rate mortgage is only 2.991 percent, while pre-approval and a 15-year fixed-rate mortgage provide rates of only 2.105 percent.

Fixed-rate mortgage 97

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

Realty Biz

SEPTEMBER 30, 2023

Seek professional advice: Working with a mortgage professional, such as a loan officer or mortgage broker, can provide valuable guidance. They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval.

Finance 97

Finance Debt-to-income ratio FHA loan 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.

Pre-qualification 358

Pre-qualification Pre-approval Fixed-rate mortgage Loans 358

Norada Real Estate

JUNE 22, 2022

Shortage of any of these factors could make you not pre-qualify for a loan. Lenders and others use the ratio to understand how risky a loan is, and it can be used for approving loans or requiring private mortgage insurance (PMI). Types of Mortgage Options For Financing Turnkey Rental Properties. Fixed-rate mortgages.

Finance 96

Finance FHA loan Investor Loans 96

Toronto Realty Blog

JUNE 20, 2022

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%. In the meantime, his mortgage pre-approval expired! With the massive increase in interest rates, he is now looking at a five-year, fixed-rate mortgage of 5.19%.

Principal 97

Principal Fixed-rate mortgage Pre-approval Mortgages 97

Real Trends

OCTOBER 23, 2022

What first-time homebuyers do not realize is that if you have a lower credit score, the interest rate on your mortgage loan is going to be higher. If someone had a credit score of 700 to 719 with 20% of the mortgage price to pay upfront, the average rate on a 30-year fixed-rate mortgage on May 19 was 5.833%, according to Bankrate.

VA loan 67

VA loan Pre-approval Fixed-rate mortgage Loans 67

Realty Biz

JULY 10, 2023

How to Navigate Rising Rates as a Home Buyer Here are some tips for home buyers in a rising rate environment: Get pre-approved for a mortgage before you start shopping for a home. But for those who are determined to buy a home, the market is still active. Be prepared to make a larger down payment.

Mortgages 60

Mortgages Pre-approval Sales Fixed-rate mortgage 60

Realtor.com

JANUARY 19, 2022

Not only that, we were about to sign up for 30 years of fixed-rate mortgage payments. One of the most frustrating parts of the homebuying experience was the mortgage vetting process after we had been pre-approved. Then, shortly before the loan was approved, my 5-year-old iPhone died.

Pre-approval 110

Pre-approval Banks Closing Mortgages 110

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

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. According to this rule, also used by lenders, most people can afford to spend as much as 28% of their gross monthly income on a mortgage and up to 36% on debt payments and still manage other typical recurring expenses.

Debt-to-income ratio 71

Debt-to-income ratio Closing costs Loans Title 71

Marco Santarelli

JULY 23, 2022

Mortgage approval rates today are lower than they were in the pre-crisis era, which suggests that borrowers are less likely to default on their loans. Reduced mortgage rates and consequently lower house costs can bring properties that were previously out of reach within reach. The shaded areas represent U.S.

Mortgages 52

Mortgages Marketing Lending Equity 52

Housing Wire

AUGUST 29, 2022

But for brokers, price isn’t the only determining factor when comparing rates for the borrower. On top of competitive rates, getting approved for a mortgage has to be an easy and quick closing process for the customer, said Kevin Leibowitz, CEO of brokerage Grayton Mortgage.

Equity 410

Equity Loan Officer Loans Mortgages 410

Toronto Realty Blog

MAY 26, 2022

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. But an increasing interest-rate environment is going to lead to higher fixed-rate mortgages over time. Sure, in theory.

Fixed-rate mortgage 92

Fixed-rate mortgage Purchase and sale agreement Banks Mortgages 92

Marco Santarelli

SEPTEMBER 30, 2023

As of mid-August 2023, a 700 credit score could secure an interest rate of 6.796% for a 30-year fixed-rate mortgage loan of $300,000. Get pre-approved for a mortgage before you start shopping for a home. FICO Score 760 and above: Average lowest interest rates.

FHA loan 105

FHA loan Mortgages Debt-to-income ratio Loans 105

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 58

New Construction Equity Closing costs Purchase and sale agreement 58

Redfin

JUNE 1, 2022

Mortgage rates are central to the economy; they react to and influence inflation rates. Mortgage interest rates are also critical in determining mortgage and housing affordability. Be pre-approved and have all required documentation ready to go.

Mortgages 73

Mortgages Pre-approval Fixed-rate mortgage As-is 73

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. Reach out to various lenders to get pre-approval, which will provide you with insight into your financing options and costs that are specific to your situation.

Equity 59

Equity Closing costs Mortgages Pre-approval 59

Toronto Realty Blog

DECEMBER 14, 2022

October 19th, 2022, I wrote, “Should Tenants Be Pre Approved For Candidacy?” Instead of showing a condo, gathering supporting documents, and submitting an offer to lease, agents are sending supporting documents first , to ask if their tenants would be “approved.”

Development 81

Development Purchase and sale agreement As-is Marketing 81