Redfin

JUNE 27, 2025

Not taking advantage of government-backed loans A common first-time homebuyer mistake is overlooking government-backed loans when these programs can make homeownership more accessible. Options like FHA loans , VA loans , and USDA loans offer low down payments and more lenient credit guidelines.

Pre-approval

The Mortgage Report

JULY 21, 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?

FHA 203k rehab loan

Redfin

JULY 23, 2025

FHA loans are fantastic if you have a lower credit score or fewer savings. The trade-off is you’ll pay FHA Mortgage Insurance Premium (MIP), which is usually for the life of the loan in most cases. VA loan (for veterans & service members): Often 0% down payment: That’s right, $0 down!

FHA loan

Redfin

JANUARY 28, 2025

The seller must also be in good standing with their loan, meaning it cannot be delinquent. VA loans VA loans are specifically designed for eligible veterans, active-duty service members, and certain surviving spouses. to 1% of the original loan), title fees , and recording fees.

Loans

Redfin

JULY 30, 2025

It covers a variety of fees like lender and title fees, property taxes, home inspection, and homeowners insurance, to name a few. 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.

Pre-approval

Redfin

MARCH 18, 2025

The earnest money is typically held in an escrow account – a neutral third party, such as a title company or real estate brokerage, holds onto the funds until the sale is finalized. If your down payment is already covered, the earnest money can help pay for lender fees, title fees, and other closing expenses.

Closing

Redfin

JUNE 27, 2025

For example, a buyer might ask the seller to pay $5,000 toward their closing costs. If agreed, this would be included in the contract and deducted from the seller’s proceeds at closing. What can seller concessions cover?

Seller concession

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?

Equity

The Mortgage Report

JUNE 23, 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? Do wholesale mortgages come with any fees?

FHA 203k rehab loan

Redfin

JULY 31, 2025

What to do instead: Take time to research different loan types, including FHA loans with low down payment requirements, VA loans for eligible veterans, USDA loans for rural areas, and adjustable-rate mortgages (ARMs) that may offer lower initial rates. FHA Loan: Require only 3.5%

VA loan

The Mortgage Report

JULY 22, 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?

FHA 203k rehab loan

Redfin

JULY 1, 2025

It’s typically negotiated as part of the purchase agreement and applied at closing to cover eligible fees like: Lender and loan origination fees Title insurance Escrow or attorney fees Prepaid taxes and homeowners’ insurance Example: You’re buying a $400,000 home and negotiating a $10,000 seller credit.

Purchase and sale agreement

Redfin

MARCH 4, 2025

Lenders will typically clear the title and vacate the property before selling it to you. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans. If a buyer with a government-backed loan goes into foreclosure, the government will take control of the property.

Pre-approval

Redfin

AUGUST 4, 2025

VA and USDA loans: For those who qualify, these government-backed loans can be a game-changer. VA loans (for veterans and service members) and USDA loans (for homes in eligible rural areas) may not require any down payment at all. They require a down payment of just 3.5% Yes, it’s possible!

VA loan

Redfin

JULY 31, 2025

Common closing cost fees include: Application fee: Up to $500 Appraisal fees: $300-$500 Title insurance: 0.5% to 1% of the loan amount Escrow fees: 1% of the home sale price Recording fees: $125 Property taxes: Varies Homeowner’s insurance premiums: Varies 6. FHA Loan: Designed for buyers with lower credit scores.

Purchase and sale agreement

Redfin

JULY 24, 2025

Loan origination fee: This is a fee charged by the lender for the administrative work of processing your application. Title services: This includes a title search to ensure there are no legal issues with the property and title insurance. FHA: FHA streamline refinances may have no specific equity requirement.

Mortgages

HomeLight

MAY 15, 2025

Fast facts about selling a house as is in Plymouth Median sales price in Plymouth $650,000 Average days on market (DOM) for Plymouth 53 Disclosures Plymouth law requires sellers to disclose material facts about the property through the Property Transfer Notification Certification and Title 5 of the Massachusetts Environmental Code.

As-is

Redfin

JULY 24, 2025

Certain loan programs, like VA loans (for eligible veterans and service members) and USDA loans (for properties in eligible rural areas), allow you to purchase a home with 0% down. You’ll work with the title or escrow company to finalize the payment via wire transfer or cashier’s check on closing day.

Principal

HomeLight

APRIL 2, 2025

Still, they are often hired by escrow agents and title companies to prepare closing documents due to Hawaiis history of land division and recording procedures and its implications on modern real estate practices. Rich Wu from Josh Jerman’s Team Is a real estate attorney required? Real estate attorneys are not essential for closing.

As-is

Marco Santarelli

JUNE 15, 2025

This includes not just the interest rate, but also other fees associated with the loan, giving you a more accurate picture of the total cost. Loan Type Matters: As you can see, rates vary significantly based on the type of loan. FHA and VA loans often have different requirements and can be attractive options for some borrowers.

Mortgages

Redfin

AUGUST 5, 2025

Getting to the closing table means simply completing the inspection process and making sure all the title work is in order. Even with bad credit, buyers can still qualify for certain types of loans. For example, you can still qualify for a VA loan or FHA loan with a credit score as low as 580.

Earnest money deposit

The Mortgage Report

JULY 16, 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? Because when you assume a mortgage, you keep the loan’s existing rate.

FHA 203k rehab loan

Housing Wire

OCTOBER 20, 2022

on Wednesday announced that it has released an Attorney Opinion Letter (AOL) product for VA direct and VA-backed home loans as a compliant alternative to title insurance. Voxtur previously announced this year that it had produced an AOL for Fannie Mae loans. Real estate tech firm Voxtur Analytics Corp.

VA loan

Housing Wire

NOVEMBER 8, 2021

This is an absolute must, especially in the market right now as it gives the lender an opportunity to fill the listing agent in on the buyer’s background and how the VA loan process works,” Pascoe explained. There remains a belief among listing agents and their clients that the VA appraisal and closing process will be a hassle.

VA loan

Housing Wire

JUNE 17, 2024

It can be used to pay nonrecurring closing costs, such as appraisal, processing, title and recording fees. Department of Veterans Affairs (VA) loans with either fixed or adjustable rates. Wells Fargo, which was among the top 25 U.S. It is available for conventional, conforming and U.S. Expanding the availability of the Dream.

Closing costs

Housing Wire

MARCH 5, 2024

trillion in FHA and VA loans. Roam acts as a facilitator, synchronizing all stakeholders involved in the assumption process, including real estate, title and escrow agents, attorneys, and the buyer and seller themselves. Included in that total were nearly $1.5 So, we help them include that marketing for that home.

VA loan

Housing Wire

JUNE 8, 2023

Fannie Mae dropped a bomb on the title insurance industry in April 2022, when it adjusted its selling guide to allow the purchase of loans using attorney opinion letters (AOLs). The title I have used to frame this discussion for the past few months is ‘storm warning or calm seas?’”

Title

Housing Wire

MAY 8, 2023

Assuming a VA loan I have nothing but the utmost respect for everyone serving in the military. Veterans Affairs (VA) mortgage loans can be an excellent product for veterans. VA loans can be assumed by anyone, and the new borrower assumes those benefits. You do not have to be a veteran to assume a VA loan.

VA loan

Housing Wire

APRIL 5, 2022

February and March were when the firm saw the best closing turn times for Rocket Pro TPO, Randolph said, though he would not disclose the average number of days it took to close a loan. Government, FHA, and VA loans do not apply and the program is not available in 16 states, including New York, Massachusetts, and Rhode Island.

Loans

Housing Wire

JULY 22, 2024

Fifty-five years ago, when I was first licensed, we had a one-page VA loan, a one-page FHA loan, and a one-page listing agreement and two pages for a buying agreement. If you look at the last 50 years of the real estate industry, the rules around residential transactions have become very complex.

Industrial

Housing Wire

MAY 24, 2024

For this kind of agreement to work, it’s advisable to work with an attorney so terms and conditions are clear within a written contract that includes repayment schedules and title agreements. Consider home loan programs There are a number of home loan programs you may qualify for, even if you carry student loan debt.

Debt-to-income ratio

Housing Wire

JANUARY 31, 2021

It includes property preservation data, such as vacancy checks and inspections for damage repairs, foreclosure title status and title clearance information and claimable vs non-claimable expenses, current status for properties in auction, and more. EXOS One Marketplace connects users with the right data at the right time.

VA loan

Realty Biz

SEPTEMBER 24, 2022

Military borrowers looking to buy or refinance a home might want to consider a VA loan. Department of Veterans Affairs (VA), this loan option can make buying a home easier for those who might otherwise struggle to afford a mortgage. What Is a VA Loan? Benefits of a VA Loan. Backed by the U.S.

VA loan

Point2Homes

DECEMBER 15, 2021

Or you can assume your partner’s mortgage in case of a divorce if your name is listed on the house title but not on the initial loan. Like any loan, an assumable mortgage will require the lender’s approval before any changes are made to the initial contractual agreement. Department of Agriculture (USDA) loans.

Debt-to-income ratio

RIS Media

MAY 19, 2021

. – Closing/escrow/settlement fee, title insurance, notary fee, recording fee, pest inspection, home inspection, home warranty. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

Closing costs

HomeLight

JULY 31, 2022

To best understand this program and see if it is right for you, you can explore the “VA Home Loan Guaranty Buyer’s Guide” and/or consult a real estate professional who has frequently worked with service members. VA-backed mortgage as marketing. Another benefit of VA loan assumption is lower closing fees.

VA loan

Point2Homes

JULY 29, 2021

In 2021, closing times have stretched to 51 days for conventional loans. For FHA loans, this is even longer at 55 days, while VA loans are 57 days. If you have to sign loan documents in the presence of the relevant parties, you can spend an hour or even an hour and a half in the office. Title insurance.

Closing