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

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

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

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

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

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

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

Marco Santarelli

JUNE 17, 2025

Government Loans Government-backed loans are fantastic options, especially for first-time homebuyers or those with lower credit scores: FHA Loans : The 30-year fixed rate for FHA loans is currently 7.42% , a rise of 0.59% from last week. VA Loans : The 30-year fixed VA loan is at 6.52% , an increase of 0.11%.

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

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. Think of it this way: the less money you have to take out as a loan, the smaller the principal amount that your bank calculates your payments on.

Principal

Marco Santarelli

JULY 24, 2025

Meanwhile, VA loans offer competitive rates close to or better than conforming loans as they carry government guarantees. At 6.86% , a 30-year fixed mortgage on $280,000 yields a monthly principal and interest payment of about $1,847.

Mortgages

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

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

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

Redfin

JULY 30, 2025

Loans and programs for first-time buyers Loan Who qualifies Minimum down payment Minimum credit score Key qualifications Conventional loans Borrowers with good credit and stable income 3% 620 Strong credit, steady income, low DTI ratio FHA loans Borrowers with lower credit scores and limited savings 3.5%

Debt-to-income ratio

Norada Real Estate

JULY 18, 2025

Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator. For example: Conforming loans or loans meeting Fannie Mae/Freddie Mac guidelines have different structural rates than government-backed loans such as FHA or VA loans.

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

JULY 18, 2025

Monthly principal and interest payments can be calculated using the mortgage formula or an online calculator. For example: Conforming loans or loans meeting Fannie Mae/Freddie Mac guidelines have different structural rates than government-backed loans such as FHA or VA loans.

Mortgages

Housing Wire

APRIL 9, 2025

MBA hopes, however, that the majoritys version can make more changes, including clarification that that the partial claim shall not diminish the guaranty on the existing VA loan; increasing the maximum claim amount from 20% to 30% of the unpaid principal balance (UPB) to align it with programs offered by the Federal Housing Administration (FHA); and (..)

HR

Marco Santarelli

JUNE 17, 2025

Government Loans Government-backed loans are fantastic options, especially for first-time homebuyers or those with lower credit scores: FHA Loans : The 30-year fixed rate for FHA loans is currently 7.42% , a rise of 0.59% from last week. 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

Housing Wire

MAY 6, 2025

These changes represent real progress toward creating a partial claim solution that protects veteran borrowers, provides servicer clarity, and aligns with existing government-backed programs, Killmer said.

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

FHA and VA Loan Rates: What You Should Know Government-backed loans through FHA and VA programs often present lower initial rates or easier qualifying criteria: FHA 30-year fixed rate dropped significantly to 6.00% (down 1.40%), a notable decrease likely to attract more buyers. 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

SEPTEMBER 1, 2020

for advertisements that misrepresented the credit terms of the advertised mortgage loan by stating credit terms that the company was not actually prepared to offer to the consumers, among other deceptive practices. 26, the CFPB settled with PHLoans , Inc.,

VA loan

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

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. Concerns over the existing VA policies have been echoed among mortgage professionals.

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

MAY 25, 2021

Mortgages would be subject to FHA loan limits. percent of the principal, which could be financed, and would not pay a monthly insurance premium. The benefit is modeled on the widely used home loan program for veterans, which is administered by the Department of Veterans Affairs.

FHA loan

Housing Wire

MARCH 3, 2022

The department said at the time that they do not normally allow for the modifications to lengthen the loan maturity date by more than a year past the original maturity date without VA preapproval. Borrowers now also have more time to defer their loan payments. Meanwhile, as of Jan.

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