Marco Santarelli

MARCH 31, 2025

Current Mortgage Rates Breakdown When you're looking to buy a home, the interest rate you lock in plays a huge role in your monthly payment and the total amount you'll pay over the life of the loan. This rate environment makes careful shopping and understanding your loan options even more critical.

Mortgages

Redfin

JULY 23, 2025

Key takeaways for your down payment strategy 20% isn’t required: You don’t always need a 20% down payment to buy a home, thanks to various loan options. The amount you’ll be required to put down may vary depending on the loan program you use to finance the home purchase. What is a down payment?

FHA loan

Marco Santarelli

MARCH 16, 2025

Breaking Down Today's Mortgage Rates Loan Type Interest Rate 30-Year Fixed 6.59% 20-Year Fixed 6.45% 15-Year Fixed 5.93% 5/1 ARM 6.85% 7/1 ARM 7.13% 30-Year VA 6.15% 15-Year VA 5.59% 5/1 VA 6.15% As you can see, the 30-year fixed-rate mortgage the most common choice for homebuyers is currently averaging 6.59%.

Mortgages

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

FEBRUARY 26, 2025

It's not just the 30-year fixed that's moving let's take a closer look at what different types of loans are doing. Mortgage Type Rate 30-Year Fixed 6.35% 20-Year Fixed 6.06% 15-Year Fixed 5.64% 5/1 ARM 6.56% 7/1 ARM 6.39% 30-Year VA 5.80% 15-Year VA 5.30% 5/1 VA 5.89% See that? Thats a pretty significant difference!

Mortgages

Marco Santarelli

MARCH 20, 2025

Be prepared for higher monthly payments compared to a 30-year loan. 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. Refinance Rates: What's on Offer Today?

Mortgages

Marco Santarelli

JUNE 17, 2025

When securing a 30-year fixed mortgage, this rate means you would pay 6.93% interest over the life of the loan. For a shorter-term option, the 15-year fixed mortgage rate remains stable at 6.01% , appealing for buyers looking to pay off their loans faster. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

Mortgages

Redfin

JULY 30, 2025

Most homebuyers will need to think ahead about the following costs when estimating how much money is needed to purchase a home: Down payment: The down payment is a percentage of the home’s purchase price, anywhere from 0% to 20% depending on your loan. Several loan options, such as FHA or VA loans, only require a down payment of 3.5%

Pre-approval

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. housing market.

Mortgages

Marco Santarelli

FEBRUARY 16, 2025

VA and FHA Loans : Competitive rates with a 30-year VA at 5.98% and FHA rates starting at 5.75%. per month (Principal & Interest) 15-Year Fixed (5.87%) : Approximately $1,296.19 per month (Principal & Interest) 15-Year Fixed (5.87%) : Approximately $1,728.25 VA Loans : These loans are backed by the U.S.

FHA loan

Marco Santarelli

JULY 24, 2025

Conforming loan rates remain generally lower than government-backed loan rates. ARM loans often attract borrowers seeking lower initial rates but come with the risk of rate adjustments later. Government-backed loan rates are generally higher than conforming loan rates now.

Mortgages

Redfin

FEBRUARY 20, 2025

The lender provides a mortgage payoff statement, including: Principal balance Accrued interest Possible prepayment penalties (less common but can be 1%3% of the loan balance). Some loan types, like FHA and VA loans, limit seller contributions to 3%6% of the purchase price.

Closing costs

HomeLight

MAY 14, 2025

Be aware of minimum property standards for certain loans When you place your home on the market, its hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. General Tax Rate: 1.25% (No change) Clean Water Surcharge: Increases from 0.2%

As-is

Redfin

JULY 24, 2025

Reduces the mortgage principal, leading to lower monthly payments and total interest over time. Acts as a risk mitigant for lenders by lowering the loan-to-value (LTV) ratio. A lower LTV can also qualify borrowers for more favorable loan terms and potentially eliminate the requirement for private mortgage insurance (PMI).

Principal

Redfin

JULY 23, 2025

VA loans , available to eligible veterans and active-duty service members, require no down payment and no PMI. Other options like FHA loans or certain first-time homebuyer programs allow down payments as low as 3%, though they may still include mortgage insurance and stricter debt limits. However, there are exceptions.

Debt-to-income ratio

Marco Santarelli

JUNE 30, 2025

Government Loans Mixed: FHA rates increased, while VA rates showed slight increases. Jumbo Loans Varied: Jumbo loan rates experienced a mix of increases and decreases across different terms. But other conforming loans saw both increases and decreases.

Fixed-rate mortgage

Marco Santarelli

APRIL 12, 2025

Fixed-Rate Mortgages Pros: Consistency: Monthly payments remain stable throughout the life of the loan, which allows for easier budgeting. 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).

Mortgages

Norada Real Estate

JULY 18, 2025

Today's Mortgage Rates Overview Below is a summary table showing today's mortgage rates by loan type based on July 18, 2025 data from Zillow: Loan Type Rate (%) Weekly Change APR (%) APR Weekly Change 30-Year Fixed 6.89 +0.05 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. The distinction impacts your taxes, loan eligibility, and insurance costs.

Principal

Redfin

JULY 30, 2025

Additional qualifications Loans and programs Benefits of being a first-time homebuyer What are the next steps? down; 500 with 10% down Primary residence, mortgage insurance required VA loans Eligible U.S. down; 500 with 10% down Primary residence, mortgage insurance required VA loans Eligible U.S.

Debt-to-income ratio

Marco Santarelli

JULY 31, 2025

Overview of Today's Mortgage Rates Mortgage rates have been relatively stable this week with minor decreases noted in key loan types. The most popular mortgage — the 30-year fixed-rate loan — is now averaging 6.84%, which is a slight drop of 2 basis points from 6.86% the previous week. 15-Year Fixed Refi 5.84% -0.06

Mortgages

Marco Santarelli

JULY 18, 2025

Today's Mortgage Rates Overview Below is a summary table showing today's mortgage rates by loan type based on July 18, 2025 data from Zillow: Loan Type Rate (%) Weekly Change APR (%) APR Weekly Change 30-Year Fixed 6.88 +0.04 Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator.

Mortgages

Marco Santarelli

MARCH 2, 2025

This type allows homeowners to spread out their payments over three decades, resulting in lower monthly payments compared to shorter term loans. However, buyers must be aware that they will pay more interest over the life of the loan than they would with a 15-year mortgage. down payment.

Mortgages

Marco Santarelli

JUNE 17, 2025

When securing a 30-year fixed mortgage, this rate means you would pay 6.93% interest over the life of the loan. For a shorter-term option, the 15-year fixed mortgage rate remains stable at 6.01% , appealing for buyers looking to pay off their loans faster. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

Mortgages

Housing Wire

APRIL 9, 2025

On Wednesday, the House of Representatives Committee on Veterans Affairs Subcommittee on Economic Opportunity has scheduled a markup of several veteran-focused pieces of proposed legislation, which includes a bill called the VA Home Loan Program Reform Act. sponsored by subcommittee chairman Rep. Derrick Van Orden (R-Wis.).

HR

Housing Wire

MAY 6, 2025

Department of Veterans Affairs (VA) home loan program with the addition of a partial claim option has picked up support from the Mortgage Bankers Association (MBA). Following moves to close the Veteran Affairs Servicing Purchase (VASP) program, a bill from a lawmaker who railed against it that seeks to reform the U.S.

Mortgages

Marco Santarelli

MAY 22, 2025

He generally advises against FHA and VA loans due to their additional fees. This aligns with projections from entities like the Federal Home Loan Mortgage Corporation, which anticipates home prices to continue rising in the coming year, albeit likely at a more moderate pace. In my experience, Ramsey's principles are spot on.

Marketing

Marco Santarelli

JULY 30, 2025

Refinance rates for 30-year fixed loans are just a smidge higher than last week at 7.09%. 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. Down 1.43% 30-Year Fixed VA 6.30

Mortgages

Marco Santarelli

JULY 29, 2025

Currently, the 30-year fixed-rate mortgage, the most common loan type for homebuyers, has edged slightly upward to 6.87%. Government-Backed Loans Government loans continue to present slightly different rates, influenced by program-specific factors. This is a tiny increase of 1 basis point (0.01%) since last week.

Mortgages

Marco Santarelli

JULY 29, 2025

Currently, the 30-year fixed-rate mortgage, the most common loan type for homebuyers, has edged slightly upward to 6.87%. Government-Backed Loans Government loans continue to present slightly different rates, influenced by program-specific factors. This is a tiny increase of 1 basis point (0.01%) since last week.

Mortgages

Housing Wire

OCTOBER 2, 2020

million homeowners remain in COVID-19-related forbearance plans representing $751 billion in unpaid principal. According to the report, the portfolio-held and private labeled security loans were largely responsible for the recent increase, with forbearance share gaining from 7.1% to 7.3% – a total of 28,000 new loans in forbearance.

Loans

Housing Wire

SEPTEMBER 1, 2020

The Consumer Financial Protection Bureau issued a consent order against two companies on Tuesday following recent investigations of mortgage companies that use deceptive mailers to advertise loans guaranteed by the United States Department of Veterans Affairs. Millennials led the pack for VA refinances with a 463% jump year over year.

VA loan

Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. 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 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. The VA didn’t immediately respond to HousingWire’s request for comment.

VA loan

Housing Wire

MAY 25, 2021

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. Representatives John Rutherford (R-Fla.), Al Lawson (D-Fla.),

FHA loan

Housing Wire

MARCH 3, 2022

The Department of Veterans Affairs is giving borrowers impacted by the pandemic an additional fifteen months to get loan payment relief. VA’s Loan Guaranty Service has taken multiple steps to assist veteran borrowers in retaining their homes and overcoming their individual financial situations due to the pandemic,” the spokesperson said.

VA loan

Housing Wire

MAY 6, 2024

MBA and NRMLA each state that they are generally supportive of the proposed changes, which include wholesale revisions to the lender table for the best estimate of the total cost of a refinancing to the borrower, as well as increases to the borrower’s principal limit. Department of Veterans Affairs (VA) loans.

VA loan