Author: Lending Agent

While home price growth has been nearly flat in the U.S. this winter, prices are still expected to increase by 3.6% by January 2026, according to the March home price report from CoreLogic. January home prices were up 3.3% over a 12-month period, but the month-over-month price increase was virtually flat at 0.04%. The static prices, however, aren’t expected to last. CoreLogic expects prices to increase later in the year but emphasizes that price growth will be uneven and there will be “stark differences between regions.” The Northeast home prices in January have remained relatively strong, while the Mountain West…

President Donald Trump announced Monday that he will implement 25% tariffs on Mexican and Canadian imports, starting Tuesday. News services reported that the announcement sparked fears of a North American trade war that already showed signs of pushing up inflation and hindering growth. Trump also signed an executive order raising tariffs on imports from China to 20%, up from 10%. The Trump administration maintains that the tariffs are needed to force Canada and Mexico, the nation’s two largest trading partners, to do more to fight the trafficking of fentanyl and to stop illegal immigration. Trump said on Monday that the…

With outdoor beauty, major companies like Amazon and Microsoft and no state income tax, Washington continues to welcome new residents. In fact, more people have moved into the state than out of it over the past three decades, according to the Washington State Office of Financial Management. That influx can spell difficulties for first-time homebuyers, but all isn’t lost. The Washington State Housing Finance Commission works with mortgage lenders to offer a range of programs to help first-time buyers. The state’s definition of a first-time homebuyer allows some leeway, too: someone who hasn’t owned and occupied a primary residence in…

Key Takeaways Refinancing doesn’t necessarily mean losing home equity, but it can. With a rate-and-term refinance, your equity stake shouldn’t change, as you’re only replacing your current mortgage with a new one that has better terms. However, with a cash-out refinance, you’ll borrow against your ownership stake — which will reduce your equity. You can also lose equity if you roll closing costs into the new loan, or your home appraises for less. Refinancing your mortgage doesn’t have to mean losing home equity. Just the opposite, in fact: The goal of a refi generally is to get a new…

Alabama is home to Gulf Coast beaches, scenic mountains, historic towns and NASA’s research center. Home values are on the rise in this southern state, with prices increasing more than five percent in the last year, according to real estate brokerage Redfin. For first-time homebuyers, programs are available to make homeownership more affordable, including lower mortgage interest rates, looser lending requirements, down payment assistance and a tax break. The Alabama Housing Finance Authority oversees these programs. Alabama housing market statistics Median home sales price, as of Jan. 2025 (Redfin): $276,400 Median down payment, as of Dec. 2024 (ATTOM): $26,670 Most…

Key takeaways A deficiency judgment is a court order that allows a lender to collect remaining debt when the collateral doesn’t cover the full amount owed. With a mortgage, this can happen when the proceeds from a foreclosure sale don’t cover the outstanding balance on the loan. A deficiency judgment can have a significant negative impact on your credit, which can affect your ability to get another loan in the future. To avoid a mortgage deficiency judgment, contact your servicer as soon as you know you’ll have trouble making payments. What is a deficiency judgment in real estate? In foreclosure…

Key takeaways A fixed-rate mortgage has a consistent interest rate and a predictable monthly payment throughout its entire term. Most mortgages in the U.S. are fixed-rate mortgages. Within the category of fixed-rate loans, there are multiple options, including conventional and government-backed loans. What is a fixed-rate mortgage? A fixed-rate mortgage has an interest rate that remains constant throughout the entire loan period, or term. That means your monthly payment for principal and interest stays the same. Keep in mind that additional costs, like homeowners insurance and property taxes, may cause slight variations in your total monthly payment. While 30-year terms…

Real estate investing is highly competitive, with limited property supply challenging profitable deals. New construction offers investors fewer competitors and the potential for higher returns, but success depends on strategic financing. While traditional mortgages are common, new construction loans provide greater flexibility for short-term investments. Let’s dive into why real estate investors should be leveraging new construction loans.How Do New Construction Loans Work?A new construction loan requires an application and approval, with eligibility based on creditworthiness, a sufficient down payment, and a detailed project plan with a realistic timeline and budget.If approved for a construction loan for a rental property or residential…

Kmatta/ Getty Images; Illustration by Austin Courregé/Bankrate For prospective homebuyers, times are tough. Home prices are at record levels, and mortgage rates remain higher than they were in recent years, squeezing those hoping to buy. It’s probably no surprise, then, that fully 81 percent of aspiring homeowners say down payment and closing costs pose a “very significant” or “somewhat significant” obstacle to owning a home, according to Bankrate’s 2025 Down Payment Survey. In particular, many Americans feel like the goal of saving for a home has been crowded out by other financial needs, such as stashing away emergency savings, paying…

After more than a week of consistent and meaningful improvement, mortgage rates finally showed us that they were at least capable of moving in the other direction yesterday. Thankfully, that demonstration was short-lived.   The average lender got back to the recently typical business of offering the lowest conventional 30yr fixed rates in several months. As of today, you’d have to go back to December 9th to see anything lower, but if rates improve just a tiny bit more, you’d have to keep feeding quarters into the time machine until reaching October 18th. At that point, it would take quite bit…