New American Funding

These are both conventional. The one from Fairway is miles better. New American Funding is .825% worse on rate and $1000 more expensive in cost. Additionally, the one from NAF has a $5k second lien that you’re paying $44/month for. Mortgage insurance is also cheaper with Fairway, although since they’re both conventional you likely won’t have a final figure there with either until you’re out of underwriting.

https://preview.redd.it/bk8h77y6tw1h1.png?width=1600&format=png&auto=webp&s=f2ef5f21d189d5b765447ee7e508ecad78e75f90 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) May 18, 2026 Purchasing a home right now offers more opportunities than many [homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/) have seen in recent years. Home prices are easing in many markets. There are more homes for sale in much of the country. And the pace of competition has eased. This good news doesn’t mean the homebuying process is effortless. The most desirable homes still sell quickly. But for buyers who are prepared, flexible, and clear about their priorities, this housing market may open doors that were previously closed. Here’s how savvy homebuyers are approaching the spring and summer market and where to focus your strategy as you hunt for a home. # Homebuyers should expect to compromise on what they want vs what they need Most homebuyers begin their home search with a detailed list of wants and needs. The reality is that very few homes will meet every single one of those expectations. “Unless you are a multi-millionaire, you are most likely going to have to compromise on something,” said real estate agent Sanjog Gopal of [AZResidence](https://azresidence.com/) in Tempe, Ariz. That lesson tends to become clearer as the longer a home search goes on. “I have had so many buyers turn down a home that had 95% of what they wanted only to regret their decision three months down the road,” said Gopal. “All of the other homes that they have seen only have 85% to 90% of what they want.” What buyers may eventually realize is that waiting for perfection can mean missing out on good opportunities. **Homebuyer takeaway:** Decide early on what matters most, whether it’s location, layout, condition, amenities, or price, and be prepared to compromise on the rest. A home that checks most of your boxes today may be the best option. # Homebuyers should focus on the monthly housing payment https://preview.redd.it/uygjyfj9tw1h1.png?width=1125&format=png&auto=webp&s=3a065c2831fdbe00777d2254295ed5e0fbd54e62 One of the biggest shifts happening right now is how homebuyers think about affordability. “More and more, I’m seeing how important it is for buyers to truly understand their monthly payment, not just focus on the purchase price,” said real estate agent [Kristen Deliza](https://www.homesandland.com/agent/view/tqtwu-qtqt-86/Kristen-Delizia) of The Keyes Company in Fort Myers, Fla. She recently worked with a buyer who was ready to walk away from a deal based solely on the list price. Deliza encouraged her buyer to speak with a [loan officer](https://www.newamericanfunding.com/buy-a-home/). Once all the numbers in the homebuying picture were broken down, the total monthly cost was much smaller than expected. “The buyer also realized that the difference in her monthly payment wouldn’t meaningfully affect her lifestyle,” said Deliza. “With that clarity, she felt confident moving forward with an offer.” Indeed, a $10,000 to $20,000 difference in purchase price may not change your monthly payment by much, depending on your loan terms. What looks like a big upfront jump may feel far more manageable when spread out over 30 years. **Homebuyer takeaway:** Don’t evaluate a home based on list price alone. Look closely at how the full monthly payment fits into your budget and long-term plans. # Use homebuying setbacks as leverage, not dealbreakers Even well-prepared offers on a home can run into problems. Home [appraisals](https://www.newamericanfunding.com/learning-center/homebuyers/home-appraisals-why-they-can-makeor-breaka-deal/) can come in low, [inspections](https://www.newamericanfunding.com/learning-center/homebuyers/buyer-be-warned-what-home-inspections-dont-always-catch/) can uncover issues, and closing timelines can shift unexpectedly. The buyers who navigate these moments successfully are those who remain flexible and look for opportunities. “One of the biggest advantages a buyer can have is staying calm and strategic when unexpected situations come up,” said real estate agent [Alfredo Mayoral](https://californialuxuryhomes.kw.com/) of Keller Williams in Tustin, Calif. For example, Mayoral worked with a buyer whose appraisal came in $110,000 below the agreed purchase price. Instead of walking away, they used the situation to renegotiate. “We were able to get the seller to reduce the price, contribute $17,000 toward [closing costs](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/), and agree to repairs,” said Mayoral. **Homebuyer takeaway:** What initially looks like a homebuying setback may be turned into a financial advantage. In many cases, it creates leverage that can improve a homebuyer’s position. # Your real estate agent and mortgage lender should operate as one team Buying a home is about finding the right property and executing the deal, especially when something unexpected happens. “My buyer lost his job three days before we were supposed to sign loan documents,” said real estate agent [Krisztian Bocs](https://thehbrealty.com/) at Southern California’s Home Bound Realty. “Most people think that’s a dead deal.” Instead of letting the deal fall apart, Bocs coordinated directly with the lender. The pair restructured the loan using alternative income sources and kept the sale alive. “We closed five days late, but we closed,” said Bocs. **Homebuyer takeaway:** Choose professionals who work as a team. Strong behind-the-scenes communication can keep a deal together when circumstances change. # Look for homebuying value where others aren’t In this real estate market, the homes with the most upside are often the ones buyers initially overlook. “For a buyer in Burbank, we identified a single-family home with a detached workshop that qualified for an [accessory dwelling unit (ADU)](https://www.newamericanfunding.com/learning-center/homeowners/can-you-benefit-from-an-accessory-dwelling-unit-adu-or-guest-house/) conversion,” said [Cesar Melendrez](https://www.realtor.com/realestateagents/5ca32d21cf66c60012221227) of the Jason Mitchell Group in Hermosa Beach, Calif. The property had been on the market for too long because buyers didn’t recognize its potential for an additional rental unit. “Traditional buyers didn’t see the income angle, and investors overlooked it due to zoning confusion,” said Melendrez. That created an opportunity. Melendrez’s buyer purchased the home with a low down payment, completed the ADU conversion, and added a rental income stream. “The property generated about $2,900 a month,” said Melendrez. **Homebuyer takeaway:** Look beyond surface appeal. Properties with untapped potential can offer both immediate and long-term financial benefits. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Posting this because I specifically want this to show up if other first-time homebuyers Google or search Reddit for the lender New American Funding before deciding to use them. We did ultimately close on our house, but the process was far more stressful and disorganized than it should have been. Our closing took 6 weeks and we STILL did not receive final documents until 8 AM the morning of closing. As first-time buyers, it was incredibly stressful constantly wondering whether things were actually okay or quietly falling apart behind the scenes. The biggest issue throughout the process was communication. Numbers repeatedly changed, gift documentation had to be corrected multiple times, and we often had to chase updates ourselves instead of being proactively informed. There were several points where we genuinely thought the deal might collapse because nobody would give us direct answers. To be fair, Kevin McKinney was excellent. He communicated clearly, responded quickly, and was one of the only people involved who consistently kept us informed throughout the process. Unfortunately, our experience with Meghann Garner was the opposite. Communication was vague, delayed, or nonexistent at times, which created a huge amount of unnecessary stress during an already high-pressure situation. Maybe other people have had different experiences, but I would strongly encourage first-time buyers to ask detailed questions upfront about communication expectations, timelines, and when final closing documents will actually be available.

https://preview.redd.it/jmxh43rpcb1h1.png?width=1600&format=png&auto=webp&s=be6ef486985cfd61b387980822826e019a7c584b By [Anna Baluch](https://www.newamericanfunding.com/learning-center/authors/anna-baluch/) May 15, 2026 For military individuals and their families, [VA loans](https://www.newamericanfunding.com/loan-types/va-loan/) put homeownership within reach. These U.S. Department of Veterans Affairs loan allow members of the military and veterans to purchase homes with no money down, no private mortgage insurance, and [lower mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) than many other types of loans. “Veterans can buy a home with favorable terms while enjoying flexibility in purchasing power,” said [Anthony Ramirez](https://www.newamericanfunding.com/mortgage-loans/anthonyramirez), a New American Funding loan consultant based in San Diego. Yet, myths about these government-backed mortgages and their benefits abound. And these misconceptions could prevent those who could gain the most from these loans from using them. In honor of Military Appreciation Month, we rounded up eight common myths about VA loans and debunked them. Here’s what you need to know. # Myth No. 1: You need a down payment with a VA loan Unlike most mortgages, [VA loans do not require a down payment](https://www.newamericanfunding.com/learning-center/homebuyers/the-va-loan-advantage-100-financing-for-veterans-buying-homes/). As a result, qualified borrowers may be able to purchase homes without a substantial amount of cash upfront. This can help members of the military, veterans, and their spouses (in some circumstances) purchase homes faster than if they needed to save up for a down payment. However, VA buyers should budget for [closing costs](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/). # Myth No. 2: VA loans take longer to close Just because you’re using a VA loan, doesn’t mean you won’t be able to close quickly. But you should be prepared. Make sure you have the necessary paperwork ready, stay in communication with your lender, and schedule appraisals and home inspections early on. “When properly handled…VA loans can close just as quickly as other loan types,” said Ramirez.  # Myth No. 3: You’ll owe PMI on a VA loan Buyers often want to know if VA loans have PMI if they’re making down payments that are less than 20% of the sale price of the home. Private mortgage insurance is typically added to monthly mortgage payments, making them more expensive. But VA borrowers don’t have to worry about PMI. The loans don’t require mortgage insurance, even if you don’t make a down payment. # Myth No. 4: You can only use a VA loan once Can you use a VA loan more than once? The answer may surprise you. Many veterans think the VA loan is a one-time benefit. But it’s not. If a veteran sells a home and pays off the loan, they can apply for restoration of their VA entitlement. Once they complete VA Form 26-1880, their full benefit resets for another zero-down purchase with the same VA terms. (Your entitlement is how much the VA promises to repay the lender if you stop making your mortgage payments.) Veterans can also have two VA loans at the same time in many circumstances. If a veteran is relocated for work or wants to keep the first home as a rental, for example, they can use their remaining entitlement to buy a second primary residence with a new VA loan while the first loan is still active. # Myth No. 5: You may struggle to get approved for a VA loan VA underwriting guidelines that lenders use are generally more flexible than many borrowers expect. When veterans are denied, it may be due to lender-specific “overlays.” These are additional requirements imposed by the lender, not the VA.  For example, there is no minimum credit score needed for a VA loan. But lenders may require a certain score to issue the loan. “Some lenders operate strictly within VA guidelines, which can allow approvals in scenarios others may decline (e.g., lower credit profiles or limited credit history),” explained Ramirez. # Myth No. 6: You must choose a single-family, turnkey home with a VA loan https://preview.redd.it/fiiizvrtcb1h1.png?width=1125&format=png&auto=webp&s=5a4be220220b55ec492924861717d5a9049a5a32 VA loans are not limited to turnkey properties. There are renovation options available that allow veterans to purchase a home “as-is” and complete repairs or improvements after closing.  “This expands buying opportunities beyond move-in-ready homes,” Ramirez said. In addition, veterans can explore properties with up to four units, provided they occupy one of the units as their primary residence. These purchases can still qualify for 100% financing. # Myth No. 7: Your appraisal may be a roadblock with a VA loan VA loan home inspection requirements aren’t as scary as they may appear. Appraisals use the same comparable sales (“comps”) methodology, where the home you hope to purchase is compared to other similar homes that sold recently in the area. The key difference is the additional review process.  VA appraisals go through a staff appraisal reviewer (SAR), who ensures accuracy and flags any required repairs or inconsistencies. This added layer is designed to protect the veteran, not restrict the transaction, said Ramirez. # Myth No. 8: You must be a veteran to use a VA loan To qualify for a VA loan, you must be an active service member, veteran, or a member of the National Guard or reserves. Spouses and former spouses of a service member may qualify if their partner is missing, a prisoner of war, or died and they haven’t remarried. “While non-veteran co-borrowers may be included, note this often impacts entitlement usage and may require a down payment,” explained Ramirez. Additionally, non-veterans can often assume a VA loan from a home seller. But this will impact the original VA buyer’s entitlement. This may make it tough for the seller to purchase a new home using a VA loan. # Costs to know before you apply for a VA loan While VA loans offer a variety of benefits for those in the military community, they do come with a few costs. Before you apply for one, it’s important to become familiar with what you may owe. # Appraisal fees Properties must go through an appraisal to determine their value and ensure they meet the VA’s minimum requirements. In most cases, borrowers are responsible for appraisal fees. These typically range from between $500 and $900. # Funding fees Instead of a down payment, VA loans often require a funding fee. First-time users pay 2.15% of the loan amount with zero down, and repeat users pay 3.3%. You may be eligible for a tax deduction on these fees. Veterans with any level of VA disability compensation are completely exempt. # Closing costs Closing costs are not automatically covered by the VA. These costs can be paid by the buyer, negotiated with the seller, or covered through lender or agent credits.  “In many cases, they’re structured into the transaction through seller concessions,” said Ramirez. *Anthony Ramirez NMLS #249819* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/sduxcvo8251h1.png?width=1600&format=png&auto=webp&s=f24bd261daace55c60cd867722b4aef4c047eab3 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) May 14, 2026 Mortgage interest rates ticked down just a bit as the busy spring homebuying season continued. Rates averaged 6.36% for 30-year, fixed-rate loans in the week ending May 14, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That was a slight decrease from 6.37% in the previous week. And it was nearly half a percentage point lower than this time last year, when rates averaged 6.81%. “While purchase demand is softening, it remains above this time last year,” Freddie Mac Chief Economist Sam Khater said in a statement. “Recent data also shows existing-home sales modestly edging up.” Many homebuyers and homeowners don’t realize that even small changes in rates can make a big difference in their monthly mortgage payments. Homebuyers purchasing a $400,000 home, with 20% down, would save nearly $100 a month on their housing payments with today’s rates versus the higher rates a year ago. In a year, that adds up to an additional $1,140 and more than $34,000 in savings over the life of a 30-year, fixed-rate loan. Mortgage applications to buy a home ticked up 7% in the week ending May 8 compared to a year earlier, according to the [Mortgage Bankers Association](https://s3141176.t.en25.com/e/es?s=3141176&e=238824&elqTrackId=efd74c1a1b7a40299e524d6e5aa03bea&elq=0f62c355b78a46fabec5956458690e08&elqaid=14930&elqat=1&elqak=8AF5D8110DAF86A56FBE8F19AF2C5B3F69DA395DF514E47B52E73D133F29C70E5D4A) (MBA). Homeowners hoping to lower their monthly mortgage bills submitted 28% more applications to [refinance their existing loans](https://www.newamericanfunding.com/refinance/) than they did a year ago, according to MBA. “All loan types show\[ed\] increases in purchase activity, as potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market,” said Joel Kan, MBA’s deputy chief economist, in a statement. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/wn7x0gedb41h1.png?width=1600&format=png&auto=webp&s=d3cb922234e04363de2096e8974800330613931b By [Timothy Moore](https://www.newamericanfunding.com/learning-center/authors/timothy-moore/) May 14, 2026 Some homebuyers have limited requirements for what they want out of a home: A few bedrooms, a nice kitchen, and a good school district often do the trick. But some buyers have much longer checklists that can make finding the right home a challenge. For them, buying land and designing their own home, with the exact features they want, may be a smarter strategy. One of the best resources for building your own home is a [One-Time Close (OTC) Construction Loan](https://www.newamericanfunding.com/loan-types/one-time-close-construction-loan/). These loans let you finance the land purchase and construction costs together *and* automatically convert to a traditional mortgage loan when the home is built. That’s instead of taking out separate loans. Using a single loan may save you money on closing costs and lets you lock in a single interest rate. “The biggest advantage of a one-time construction loan is that there’s only one closing. This saves borrowers from a second round of uncertainty,” said real estate agent Ryann Brier of [City Lights Home Buyers](https://citylightsgrandrapids.com/) in Grand Rapids, Mich. “With other construction loans, there’s a second round of closings and requalification processes that take place after the house is completed.” Below, we’ll review [how One-Time Close Construction Loans work](https://www.newamericanfunding.com/loan-types/one-time-close-construction-loan/how-one-time-close-construction-loans-work/), when and why they make sense, and potential drawbacks to consider. # What are One-Time Close Construction Loans? One-Time Close Construction Loans are a [type of mortgage](https://www.newamericanfunding.com/loan-types/) that covers the land purchase *and* home construction. Since there is only one loan, hence one closing, the loan gets converted to a traditional mortgage once the home is built. If you’re hoping to build a home the way you want, in a specific area, it may be worth finding a lender that offers OTC construction loans. Here’s what makes them so enticing: * **Reduced costs:** Because One-Time Close Construction Loans have one closing, you don’t have to budget for all the various [closing costs](https://www.newamericanfunding.com/learning-center/homebuyers/how-much-are-closing-costs/) that would otherwise be associated with the construction phase and the permanent mortgage. * **Interest rate lock:** Because there’s only one closing with a One-Time Close Construction Loan, you lock in your [mortgage rate](https://www.newamericanfunding.com/mortgage-rates/) from the start. There’s no chance of your rate jumping up during the time it takes to build your home. * **Interest-only payments:** While you must start paying your One-Time Close Construction mortgage while the home is being built, payments are interest-only. That keeps your costs down. This is crucial if your monthly budget also includes a mortgage or rent payment while you wait for your new home to be constructed. * **Multiple loan types available:** While you may be eligible for a One-Time Close Construction Conventional loan, you might also qualify for a [Federal Housing Administration (FHA) loan](https://www.newamericanfunding.com/loan-types/fha-loan/) or a [S. Department of Veterans Affairs (VA) loan](https://www.newamericanfunding.com/loan-types/va-loan/) with a one-time close. This can be a gamechanger if you qualify, as the loan requirements might be more lenient. For instance, FHA loans have flexible credit score requirements and low down payment requirements. Typically, VA loans are available with no down payment at all. # How to get a One-Time Close Construction Loan https://preview.redd.it/ijkro5ggb41h1.png?width=1125&format=png&auto=webp&s=0ad11763af121d131dc7826f52235809af4368d1 [Getting a One-Time Close Construction Loan](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-finance-new-home-construction/) is a little more challenging than securing a traditional mortgage for an existing home. That’s because there is more documentation involved (and more cooks in the kitchen, so to speak, with home builders added to the process). Here’s how to get an OTC loan to build your home: # 1. Get preapproved for a mortgage Research lenders that offer One-Time Close Construction Loans and apply for a loan preapproval. This will help you understand your maximum budget and the requirements you’ll need to meet for your actual application. # 2. Select your builder Choose a reputable, lender-approved home builder that understands your vision for your home. # 3. Submit your documentation and get an appraisal Much like applying for a traditional mortgage, you’ll need to submit documentation to verify your income, assets, and debts. But you’ll *also* need to submit construction documents, including blueprints and cost estimates. Your lender will order an appraisal based on this information. “In addition to the design, plans, and quote, we recommend providing the lender with a comparable report of homes in the area,” said builder John Salvatore Gelfusa, president and CEO of [HomeWorks CGO](https://thesmartwaytoremodel.com/) in Chesterfield, Mich. “It’s in the borrower’s best interest to demonstrate that the project isn’t overbuilt for the neighborhood. While the \[lender\] will hire an appraiser to verify value, \[the\] comparable report is highly visual, showing images of similar kitchens and bathrooms alongside the proposed design to clearly support the projected value.” # 4. Get final loan approval and close Assuming your One-Time Close Construction Loan is approved, it’s time to close. If you don’t already own the land, you’ll sign for the purchase, and you’ll also sign for the construction and mortgage. # 5. Begin construction Once everything is signed, construction can begin. Funds will be available to you and your builder in phases (called draws). To get the next set of funds, you’ll need to pass various inspections throughout the construction process. # 6. Convert to a traditional, long-term mortgage Once construction is complete and the home has passed all inspections, your loan will be converted to a traditional mortgage. The loan is based on the terms you agreed to at closing. How long a One-Time Close Construction Loan takes from the day you decide to build a home to the day you move in depends on so many factors, including: * How long the design phase takes with your builder * Any issues with underwriting * Any permitting, inspection, or other construction delays # Potential pitfalls of OTC loans (and how to avoid them) There are some potential drawbacks to consider before getting a One-Time Close Construction Loan to build a home. But most can be avoided with proper planning. # Delays are the biggest issue with One-Time Close Construction Loans Delays are common when building a home. A good strategy is to build an extra 15% to 20% of time into your timeline. For instance, a six-month estimate (roughly 180 days) could be extended to 205 to 215 days in your plans, to be safe. “The most common delays usually happen with permitting and the city, builder paperwork, appraisals, or changes in order or plan. All of these could add weeks to the project,” said Brier. “Time and cost both increase when borrowers underestimate the scope of work, utility hookups, and material delays. The best thing a buyer can do is be flexible, build in extra time, and keep \[cash\] reserves on an original budget to adjust for delays as you go.” Having extra funds available is key. “Delays are expensive not just in time, but in added interest costs. The longer your project drags on, the more it ultimately costs you,” said Gelfusa. “My recommendation is to work with a contractor who can order and warehouse all interior finishes early in the process. This gives them time to inspect materials and replace anything damaged before it causes delays on the job site.” # Cost overruns may happen during home construction Another concern with construction loans is underestimating how much construction will cost. If material prices jump during construction or you encounter unanticipated issues, your lender-approved budget may not be enough. That means you may have to come up with the difference. To avoid this, overestimate your budget (just like your timeline) to be prepared. # Mortgage interest rates may drop after you lock in a construction loan The fact that you lock in your mortgage interest rate for your One-Time Close Construction Loan before construction begins may provide you with some peace of mind. If rates skyrocket, you don’t have to worry because your rate is already solidified. But if rates drop dramatically during the six to nine months (or more) of construction, you have already locked in that higher rate. “Because you’re closing so early in the project, you’re locking in your interest rate at the very beginning,” said Gelfusa. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/c67qv1hh3x0h1.png?width=1600&format=png&auto=webp&s=5044b3d3c3c5fa8a0f1c0deae369cd8c4ce1e744 By [Rachel Murphy](https://www.newamericanfunding.com/learning-center/authors/rachel-murphy/) May 13, 2026 Looking for your own home amidst the bright lights of a big (or small or mid-size) city? Whether you’re eyeing a Brooklyn brownstone, a Chicago bungalow, or a Miami condo, urban homeownership is within reach, even if your bank account and credit score aren’t picture-perfect. Enter [Federal Housing Administration (FHA) loans](https://www.newamericanfunding.com/loan-types/fha-loan/). These government-backed mortgages were designed to help prospective homebuyers close the deal without a huge down payment or impeccable credit. And they can be used in cities, even large ones.   Here’s a secret: FHA loans aren’t just for first-time homebuyers. “People think of them as first-time homebuyer loans, but they’re really not,” said New American Funding Divisional Senior Vice President [Ralph DiBugnara](https://www.newamericanfunding.com/branches/edgewater), who is based in Edgewater, N.J. “They’re for everybody and give you more buying power.” Whether you're navigating competitive urban markets or searching for that perfect walkable neighborhood, an FHA loan could be your ticket to homeownership. Let’s look at how an FHA loan could help you find the right spot in your favorite urban ZIP Code. # What is an FHA Loan? FHA loans offer valuable benefits. FHA loan down payments may be as low as 3.5% of the sale price. And these mortgages offer lower credit score requirements, only require two years of consistent employment history, and buyers may also be able to have more debt with these mortgages than with other loans. Plus, [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) are often lower for these loans. FHA loan requirements include: * You may be able to qualify for an FHA loan with a credit score of at least 500. However, the higher your credit score, the lower the required down payment. * Debt-to-income ratio of 43%. * No foreclosures or bankruptcies in the last three years. * Mortgage insurance for the life of the loan if you put down less than 10% of the sale price of the home. * The home must be your primary residence. * If the home is a multi-family structure, with more than one unit, the mortgage holder must live in one unit. * You can only have one FHA loan at a time. An FHA loan down payment can be as low as 3.5% of the total home price. That may make it easier to save for a down payment on a pricey condo or house in high-cost-of-living areas. The loans can be used for a surprising variety of homes, including [some condos](https://www.newamericanfunding.com/learning-center/homebuyers/condo-conundrum-your-guide-on-how-to-purchase-a-condo-with-an-fha-loan/), single-family homes, and multi-family homes up to four units. However, the condos must be FHA-approved or eligible for single-unit approval to use the loan. There are even options for an FHA modular home loan, provided the home was built on a fixed foundation larger than 400 square feet after 1976. # FHA Loan Limits in 2026 https://preview.redd.it/ov9y8u8k3x0h1.png?width=1125&format=png&auto=webp&s=7257cec571de33817c2a1245b22a42c88557e67d Home prices in cities may be higher than in many surrounding suburbs. But that doesn’t necessarily mean homebuyers in urban areas can’t use an FHA loan to purchase properties there. [FHA loan limits for 2026](https://www.newamericanfunding.com/learning-center/housing-news/homebuyers-may-be-afford-more-home-next-year-fha-loan-limits-for-2026/) stretch up to $1,249,125 in some of the priciest parts of the country and may be even higher for multi-family homes in those areas. Otherwise, they go up to $541,287 for single-family homes in lower-cost housing markets. “The limits are based on city, state, and ZIP Code,” said DiBugnara. “In New York and New Jersey, you’ll find a ceiling of roughly $1.2 million for a single-family home” in certain parts of the state. Loan limits can stretch to nearly $1.9 million for single family homes in Hawaii, Alaska, Guam, and the U.S. Virgin Islands, where construction costs are high. DiBugnara warned that some lenders issuing FHA loans may require larger down payments on properties that push the upper limit. “Areas where you see higher price points are going to have much higher loan limits,” said DiBugnara. # Conventional vs FHA loans With all the benefits of an FHA loan, why would anyone choose a different mortgage, such as [Conventional loan](https://www.newamericanfunding.com/loan-types/conventional-loan/)? Mortgage insurance premiums are one of those reasons. Buyers who make a down payment of less than 10% will pay the premiums for the life of the loan unless they [refinance into a Conventional loan](https://www.newamericanfunding.com/learning-center/homeowners/refinance-fha-to-conventional-making-the-switch/). Those who put down at least 10% may be able to get rid of the premiums after 11 years. “A lot of times, the FHA loan interest rate will be lower than for Conventional loans,” said DiBugnara. “But you also have to pay mortgage insurance \[on FHA loans,\] so it may end up being a higher payment overall.”  Homes purchased with an FHA loan must also pass an FHA inspection. Even if it’s a fixer-upper, it still needs to pass minimum safety standards. FHA loans can make it easier to purchase homes in cities and urban areas, but it’s important to look at your individual situation to weigh the advantages and disadvantages of these mortgages. *Ralph DiBugnara NMLS* \# *19269* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/egqvx1ffzp0h1.png?width=1600&format=png&auto=webp&s=efa65f0b766f067876ddef539498f837585b0666 By [Sarah Li-Cain](https://www.newamericanfunding.com/learning-center/authors/sarah-li-cain/) May 12, 2026 Most homeowners don’t think about getting a loan until there’s a current reason for it. Maybe the roof springs a leak, a major medical bill comes due, or you want to [help put a child through college](https://www.newamericanfunding.com/learning-center/homeowners/should-you-use-a-home-equity-loan-to-put-your-kids-through-college/).   But some homeowners take a more proactive approach and [get access to funds](https://www.newamericanfunding.com/learning-center/homeowners/home-equity-loans-can-provide-much-needed-cash-how-to-choose-the-right-one-for-you/) they may, or may not, need. This can be helpful if a future job loss or major expense could damage your credit score and your ability to qualify for the loan with more favorable terms. A [Home Equity Line of Credit](https://www.newamericanfunding.com/refinance/home-equity-line-of-credit/), or HELOC as it’s commonly called, allows homeowners to borrow up to a certain amount based on the equity they’ve built up in their home. Borrowers only use what they need during the draw period and then repay it over time. For some, opening a HELOC while their income and credit profile are strong may be a smart way to create a financial back-up plan for future needs. “It often makes sense to get approved for a HELOC before you actually need it, mostly because access to money seems to have a way of tightening up at the ‘worst’ possible time,” said Brett Johnson, owner of the Denver-area New Era Home Buyers. While there are many benefits to a HELOC, there are also some downsides to understand. # What is a HELOC and how does it work? A HELOC is a revolving line of credit, similar to a credit card, that’s secured by your home. It allows you to borrow against your home equity, which is how much you own outright on your property (not including what you owe on a mortgage.) With a HELOC, you won’t receive a lump sum upfront. Instead, you’re approved for a credit limit and can draw up to it as needed during the draw period. “One of the main advantages is that you’re only paying interest on what you borrow, and you can recycle that credit line,” said Johnson. For example, if you’re approved for a $75,000 HELOC and you only take out $20,000, you’re only charged interest on the $20,000. Or, if you borrow $75,000 and then repay $20,000 during the draw period, you can borrow up to $75,000 again. The draw period typically lasts five to 10 years, depending on your lender terms. Afterwards, you enter the repayment period where you’ll need to pay back the principal and interest. This period usually lasts for 10 to 20 years. # Leveraging a HELOC for flexibility https://preview.redd.it/2j82s2bizp0h1.png?width=1125&format=png&auto=webp&s=4cd14b66e230a8d8529d117459f25121c9f7123f Funds from HELOCs can often be used for almost any purpose, offering you a lot of flexibility. If you know you may need to make home repairs or face a future expense, having a HELOC acts as a “just in case” resource. It may also be beneficial to take one out when you have a high credit score, which may help you receive more favorable loan terms. “Getting approved when your income and credit look clean may give you a backup plan you can lean on later, instead of scrambling under pressure,” Johnson said. Having this type of flexibility can be useful because your costs may be uncertain or spread out over time. For example, if you know you want to make some renovations, a HELOC may make sense if you’re not sure right away how much you may need to borrow. Instead of borrowing one lump sum, you can take out a smaller amount as needed and plan ahead for what those payments could look like. Although alternatives like credit cards also provide flexibility, a HELOC stands out because of its cost. In most cases, interest rates are lower than what you’d find for credit cards, making it a more affordable way to borrow money. # What homeowners should consider before opening a HELOC Since a HELOC uses your home as collateral for your loan, there are some risks involved. In the worst-case scenario, if you’re unable to repay your loan, your home could fall into foreclosure. That’s why it’s important to make sure that you make on-time payments, just like when you pay your mortgage. Be sure you’re only borrowing what you can afford to pay back. Monthly payments may also fluctuate since many HELOCs have variable interest rates. During the repayment period, your payments may also change since you’ll be required to pay back the interest and principal. Building a buffer into your financial planning in case monthly payments do rise could be a smart move. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

Mortgages are a complex beast. Between the interest rates and loan terms, it can be a serious challenge to find the best mortgage for your situation.  Even seemingly insignificant factors can end up making a huge difference over the lifetime of a mortgage. Take interest rates, for instance. Just a small point difference could end up saving (or costing) you thousands of dollars over the years. If you don't do enough research upfront, you might end up having to refinance down the line.  With all the lenders that are out there, finding the best one can feel like a crapshoot. To avoid decision paralysis, I’d suggest visiting a few mortgage comparison sites to filter through your options and narrow down the list. These are some of the best ones.  **BestMoney** You can use BestMoney to research all kinds of financial products, including mortgages. They separate it out so you can find the best loan for purchasing a home, refinancing a mortgage, or borrowing against home equity.  For each loan type, there are options to filter through lenders based on your credit score (excellent, good, fair, or poor) and the loan amount you’re looking at. BestMoney assigns each lender an overall score out of 10, which combines the lender’s Trustpilot score and their brand reputation.  On top of the scores, there are also in-depth reviews for many of the main lenders, like Rocket Mortgage, Veterans United, AAG, etc. A typical review starts out with a pros and cons list, and then it gets into things like loan terms, rates, and the application process. BestMoney also has an article library that addresses common mortgage topics like refinancing, VA loans, and FHA loans. **FindMortgages** At first glance, FindMortgages looks a lot like BestMoney, but the two sites have different scopes. While BestMoney covers a range of financial products, FindMortgages is solely about home loans.  There are separate lists of lenders for whether you’re purchasing a home or refinancing your mortgage, and there are also dedicated sections for home equity loans and VA lenders. Within each category, you can filter by your credit score and loan amount. FindMortgages also gives each lender a score out of 10, which adds together the Trustpilot TrustScore and a value score that factors in a variety of lender characteristics.  Currently, the site has full reviews for six different lenders: Rocket Mortgage, Quicken Loans, AmeriSave, New American Funding, LendingTree, and Figure. The reviews are fairly brief and get straight to the point, covering pros and cons, the types of loans the lender offers, and the application process.  **Bankrate** When you visit Bankrate’s “Mortgages” section, one of the first things you’ll see is an interactive list you can filter through to see the current mortgage rates offered by each lender. The list of filters is pretty extensive, so this could be a good site to use once you have a strong idea of what you want out of a mortgage. Firstly, you’ll select whether you’re purchasing or refinancing. Then, you can filter based on your zip code, purchase price, down payment, and credit score. You can also choose whether you want to see FHA loans or VA loans included in the list. Bankrate has a separate section for home equity loans, but the home equity loan filters are similar to those you'll see on mortgages.  Bankrate assigns each lender a score out of five stars, and there are reviews for many of them. There are also customer reviews, which offer useful alternate perspectives in a lot of cases.  **NerdWallet** NerdWallet is best-known as a personal finance resource, but it has plenty of product comparison features, too. When you’re comparing mortgage rates, there are three initial filters you’ll see: purchase, refinance, and home equity. Within these filters, there are additional options.  For example, if you’re looking for a mortgage for purchasing a home, there are filters based on your zip code, credit score, purchase price, down payment, and loan term. You can also select whether you’re eligible for an FHA loan and indicate if you’re a veteran.  Like the other sites, NerdWallet gives each lender a rating; their rating system is out of five stars. They also have reviews for many of the lenders, breaking down features and the customer experience.  **Bottom line: Visit more than one site when comparing lenders.** No matter which of these sites you visit, you’ll be able to filter through a list of mortgage lenders to see companies that are best tailored to your personal situation. Some sites get more specific than others, but all of them cover the basics.  I wouldn’t rely too heavily on any one site, though. You’ll want to see what the reviews are looking like across sites before making a decision about something as consequential as a mortgage.  Have you visited any of these, and if so, what did you think?

I can’t speak directly to Zillow or New American Funding, but I can share what my wife, Cat and I experienced. About two years ago, we moved from the 100% broker model with a mini-correspondent setup over to Success Mortgage Partners, and it has been a great fit for us. We love the technology, the marketing support, and the family atmosphere. It does not feel like some giant corporate machine where you’re just another NMLS number in the database. One of the biggest differences has been leadership access. We have direct access to Allison, the president, and Owen Lee, the CEO. Owen is also currently Chair-Elect for the Mortgage Bankers Association and is expected to become MBA Chair in 2027. That is a big deal in this industry. It means SMP is close to the conversations shaping the future of mortgage lending, especially on the legislative and regulatory side. We are not operating in a vacuum. We are plugged into what is happening nationally and positioned to stay ahead of the curve, and yet small enough that we are genuinely cared for and matter. For Cat and me, SMP gave us what we were looking for: strong technology, (and I mean a really strong tech stack) real marketing support, leadership that is accessible, and enough freedom to keep building our own business and brand. Every LO has to find the model that fits them, but we have been very happy with our move to SMP.

I ran a team at New American Funding for a few years. Stay away from their Branch p&l model. They have absolutely no idea what they're doing there. If you are a corporate employee getting leads provided, i have heard fairly mediocre reviews from a lot of my peers. As far as their operations, I don't have many complaints. Underwriting was pretty solid. Minimal overlays. Pricing was not good. Competitive with most other major carriers but not with the online guys. But just like anywhere else in this industry you have to figure out what you do and find the company that does that well. There's no Silver Bullet. Top producing Standalone loan officer? Small team setup? Desk jockey that needs leads provided? Real estate agents wrangler? Each one has its own business model companies have a pros and cons for each.

I’ve been a Mortgage Loan Officer for almost 9 years and I’m currently at a point where I’m trying to rebuild my business. My production slowed down after switching mortgage companies and teams because my current company has a TON of overlays that have made deals harder to close. I’m considering making another move and have been looking into Zillow and New American Funding. I’d love honest feedback from current or former LOs at either company. How are the leads? How realistic are the income opportunities? What’s the culture/support like? How much freedom do you actually have to build your own business and brand? Would you recommend either company for someone trying to rebuild production and get momentum back? I’m open to hearing the good, bad, and ugly. Thanks in advance!

I’ve been a Mortgage Loan Officer for almost 9 years and I’m currently at a point where I’m trying to rebuild my business. My production slowed down after switching mortgage companies and teams because my current company has a TON of overlays that have made deals harder to close. I’m considering making another move and have been looking into Zillow and New American Funding. I’d love honest feedback from current or former LOs at either company. What are the biggest pros and cons of working for Zillow or New American Funding? How are the leads? How realistic are the income opportunities? What’s the culture/support like? How much freedom do you actually have to build your own business and brand? Would you recommend either company for someone trying to rebuild production and get momentum back? I’m open to hearing the good, bad, and ugly. Thanks in advance!

https://preview.redd.it/anagdvl4xi0h1.png?width=1600&format=png&auto=webp&s=b87c103d8e5719ba6b85fb62ea9cf49813b3f862 By [Anna Baluch](https://www.newamericanfunding.com/learning-center/authors/anna-baluch/) May 11, 2026 Even though the housing market is still hot, some sellers may find it difficult to sell their homes.  This spring, there are more properties for sale, leading to more competition for buyer attention. That can leave some home listings languishing on the market. “A stagnant listing usually stems from an issue with price, condition, or marketing. Fix the right one, and it will sell,” said John Gluch, real estate agent at the [Gluch Group](https://gluchgroup.com/) at exp Realty in Phoenix. If you’re struggling to sell your property, rest assured you’re not out of luck. Below, we’ll break down seven strategies to help you close that sale or find financially advantageous alternatives. # Selling strategy No. 1: Lower the price of your home The top reason homes don’t sell? They’re priced too high. “Sellers like to price their homes based on what their neighbor got six months ago, but the market moves fast,” said Gluch. “Today’s buyers are more informed than ever and will skip right past an overpriced listing without a second thought.” Dropping the price, even a little, might be all it takes to get to the closing table.   # Selling strategy No. 2: Improve your home If you have the time and budget, strategic updates to the property may help attract buyers. Fortunately, most of the time you don’t have to make any major overhauls or full renovations.  “Fresh paint, updated fixtures, professional staging, deep cleaning, and landscaping are all worthwhile,” said Gluch. “These are high-return investments.” Ultimately, your goal is to compete visually with the newer homes out there.  # Selling strategy No. 3: Offer incentives to homebuyers Due to the mortgage rate-sensitive environment we’re in, it might make sense to offer [concessions](https://www.newamericanfunding.com/learning-center/homebuyers/more-home-sellers-are-offering-concessions.-this-is-how-homebuyers-can-save-big). This may include covering the buyer’s closing costs or temporarily [buying down their interest rate](https://www.newamericanfunding.com/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands/).  “A one- to two-point rate buy-down can meaningfully lower a buyer’s monthly payment and get a deal done that otherwise wouldn’t happen,” said Gluch. For example, a 2-1 buydown is when the seller temporarily buys down the buyer’s mortgage rate. If the buyer got a mortgage with a 6% mortgage rate, for the first year of the loan the rate would be two percentage points lower at 4%. The next year, it would be a percentage point lower at 5%. Then it would adjust to 6% for the rest of the loan. While this incentive is essentially a price reduction, it can offer the psychological nudge a buyer needs to seal the deal.  # Selling strategy No. 4: Become a landlord  https://preview.redd.it/z1lh99f7xi0h1.png?width=1125&format=png&auto=webp&s=a4d44f4c64f29493a583d6632e34139c85dd6a1a Renting your property, if you’re having trouble selling, may be a financially savvy option. It can allow you to generate rental income, preserve your home, and wait for better market conditions. That’s why it’s no surprise that [2.3% of homes recently listed for rent on Zillow were also listed for sale](https://zillow.mediaroom.com/2026-03-11-Accidental-landlords-rise-to-three-year-high-as-market-shifts). “If you go this route, find a good tenant and establish communication on rental terms, showing and explaining what happens if the property is sold,” said Parisa Afkhami, real estate agent at [Coldwell Banker Warburg](https://cbwarburg.com/agent/parisa-m-afkhami) in New York City.  Also, before you move forward, understand and accept the fact that being a landlord is not passive income. Tenant issues, maintenance calls, potential property damage, and the emotional weight of managing a home you're trying to sell are all part of the job. Additionally, you may have time between tenants where you’re not collecting rental income.  # Selling strategy No. 5: Take out a bridge loan Some lenders offer [bridge loans](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-a-bridge-loan/) to “bridge” the funding gap between buying a new home and selling your current property. These loans usually last between three months to a year. Depending on the loan, you may have to make monthly payments, interest-only payments, or a balloon payment at the end of the term. A bridge loan should be on your radar if you can’t afford a down payment without selling your existing property first. You may also want to use one if you need to secure a new home soon for personal or professional reasons, such as moving for a new job. # Selling strategy No. 6: Offer cash on a new home If you’re having trouble selling your home and want to move, you have other options in addition to a bridge loan. Some lenders will [make a cash offer](https://www.newamericanfunding.com/buy-a-home/naf-cash/) on your new home. Once the deal closes, you can rent the property from them until you get a mortgage through the company. This can give you time to sell your existing home while helping you secure a home in a more competitive housing market. “This strategy removes the contingency, eliminates the pressure of a rushed sale, and gives you negotiating power in a competitive offer situation,” said Gluch. # Selling strategy No. 7: Consider an iBuyer or real estate investor If your home needs repairs or hasn’t been updated in many years, it may linger on the market. Sellers who don’t want to renovate or do a lot of work on the property may want to consider iBuyers and real estate investors. However, you likely won’t fetch top dollar for the property. “This is a convenience play, not an equity play,” explained Gluch. iBuyers and investors factor in their risk and operational costs, so you’ll pay a premium for speed and certainty. However, if you need to get your home off the market as soon as possible, it may still be an option worth considering.  [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

# Quick Hit Mortgage rates continue to remain somewhat elevated amid the ongoing war with Iran and market uncertainties. The wild card for where mortgage rates go from here, by way of the foreign exchange and bond markets, could have much to do with what Japan does next and not what the Fed does next. Additionally, we also cover the latest mortgage performance data to come out of the 2025 Home Mortgage Disclosure Act (HMDA). # Key Points & Stats 1. Japan intervened in the foreign exchange market in an attempt to defend the yen against the dollar. 2. Yields did not react drastically this time around, unlike the August 2024 episode. 3. Things could change if the BOJ reacts and raises rates, possibly sending the 10-year higher and by extension, mortgage rates. 4. In 2025, mortgage lenders encountered 11.55 million in mortgage applications, a gain of roughly 9% in comparison to 2024. 5. Of the 11.55 million, 58% (\~3 in 5 applications) resulted in a loan origination or closing. 6. That 58% represented 6.75 million in total closings (53% purchase, 29% refinance, 9% other, and 9% home improvement). 7. All told, those closings amounted to $2.12 trillion in dollar volume for 2025, a solid improvement relative to 2023 and 2024, but still less than half of what was closed in 2021 when volume hit $4.46 trillion. # Why You Should Be Watching What Japan Does Distracted? If you thought markets were only worried about the latest Iran war news, oil prices, inflation, the job market, A.I., the UAE leaving OPEC, or new news headlines revolving around the Hantavirus, you’d be missing the one that likely means more than any of those in relation to the 10-year Treasury and therefore the impact it could have on mortgage rates. Over the course of the last week, Japan was “forced” to defend its currency by intervening in the foreign exchange (FX) market. More specifically, Japan fired its yen bazooka multiple times by selling USD and buying yen. On April 30th alone, the estimated amount Japan’s finance ministry may have spent was around 5.45 trillion yen, or $35 billion to support the currency, just shy of the $36.8 billion last spent in July 2024. In the days that followed, Japan continued to intervene. The exact number of days intervention is allowed per IMF guidelines is what’s known as the “three times rule.” Which essentially suggests that a country can conduct up to three episodes of currency intervention within a six-month period and still be classified as having a “free-floating” exchange rate regime. Exceeding this limit does not result in a penalty, but it would prompt the IMF to downgrade Japan’s currency regime classification from “free-floating” to a “managed float” or “floating” rate, signaling that the market is not entirely determining the value. As of May 5–7, 2026, the Ministry of Finance has publicly signaled that Japan has two more such episodes (3-day windows) available before November if it wants to stay comfortably within the IMF’s “free-floating” guideline. This means they view the recent April/May actions as having used one of the three allowed slots in the current 6-month window.  This time around, the move was rapid but not catastrophic like the disorderly August 2024-style meltdown that led to a surge in yields and a sharp decline in the stock market. Leveraged funds could adjust without panic-selling their entire U.S. bond portfolios. Why is that? Well, intervention was mostly “sterilized” and targeted at FX, not bonds. In a classic violent carry trade unwind, Japanese investors and global funds would sell U.S. Treasuries to cover yen positions, pushing US10Y yields higher. But that didn’t happen. Japan’s Ministry of Finance (via BOJ) sold USD and bought yen directly in the foreign exchange market. This doesn’t automatically force massive selling of U.S. Treasuries. Many carry positions were unwound via FX hedges or rolling off derivatives rather than outright liquidation of bond holdings.  *Processing img wx8ene3kkxzg1...* Jesper Koll, of Monex Group, put things into perspective, stating, “intervention without changing domestic monetary policy is like tapping the brake while keeping your right foot firmly on the accelerator - at best, your passengers have a little fun, at worst, you’re burning through your brake pads.” What he’s getting at is that the Bank of Japan (BOJ) is the one that truly needs to step in to get the desired outcome of strengthening the yen while fighting inflation. Damien Loh, chief investment officer at Ericsenz Capital in Singapore, echoed those thoughts, sharing that, “without the Bank of Japan hiking at a pace commensurate to inflation, the yen will only weaken.”  For additional color on the situation, the BOJ’s policy rate is currently at 0.75% (the highest level since 1995), after the last hike in December 2025. It was left unchanged at the April 27–28, 2026 meeting. The April decision was a split 6-3 vote, with three board members dissenting and calling for an immediate hike to 1.0%. This was unusually hawkish. The BOJ sharply raised its core inflation forecast for FY2026 (to 2.8% from 1.9%) due to energy price pressures from the Middle East conflict, while cutting growth forecasts. The next meeting to see how things play out is June 15–16, 2026. This is now considered a “live” meeting for a potential hike. Market pricing (as of early May) has roughly a 60–70% probability of a 25-basis point hike to 1.00% in June. Governor Ueda and the board have repeatedly said they will continue to raise rates if the economy and prices evolve in line with (or stronger than) their forecasts.  *Processing img i8c9ij6okxzg1...* To understand the implication of a BOJ rate hike, you need to know this. A BOJ rate hike (or even expectations of one) makes Japanese assets more attractive relative to foreign ones. The mechanism equates to reduced foreign bond buying / capital repatriation: Japanese investors (pension funds, insurers, banks - some of the largest buyers of U.S. Treasuries globally) have less incentive to buy higher-yielding U.S. bonds when JGB yields rise. They may slow new purchases or even sell some U.S. holdings to bring money home. This reduces demand for U.S. Treasuries → bond prices fall → yields rise. If that happens, we could see a carry trade unwind in which many investors that borrowed in yen (cheap funding) to buy U.S. Treasuries and other assets are forced to sell. The result is as follows. A BOJ hike narrows the yield spread and raises funding costs → partial unwinds of these positions → selling of U.S. bonds → higher US10Y → higher mortgage rates.  As for the size of the unwinds, most estimates believe the figure to be close to $14 trillion:  * \~$400-500 billion in core leveraged/speculative carry trades (hedge funds, etc.)  * \~$6 trillion in broader exposure (Japanese institutions, insurers, pensions, banks - mostly unhedged or partially hedged against foreign assets)  * \~1.24 trillion (Japanese holdings of U.S. treasuries alone)  * \~5-6+ trillion (total Japanese foreign portfolio assets)  Assuming the carry unwind does play out, what’s the solution? Well, for those paying attention, the answer just might be the taboo asset class, crypto. There is a reason the CLARITY Act, or market structure bill, is being rammed through Congress at this exact moment. The U.S. needs to have continued demand for U.S. Treasuries. Stablecoins, which require a 1:1 backing with U.S. dollars or short-term treasuries, provide just that. Recent comments from Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, has publicly stated that the White House is targeting July 4, 2026, for the passage (and ideally signed by Trump), just in time to celebrate the 250th anniversary of America’s revolution. This could also be one of the crucial topics Trump and Xi Jinping discuss in Beijing on May 14-15, 2026, amid the rising demand for trade to be executed in Yuan. These are far from normal times, and when you look at everything going on, it all ties back to currency. The only debate is how it all plays out in the end.  *Processing img gyas3twwkxzg1...* # 2025 HMDA Data in Review  That first section was lengthy but needed for those that want to understand the broader scope of what's truly at play in terms of the current landscape, so thanks for sticking with it. In this section we’ll keep the commentary light, but we’ll be honest, there is still lots to cover. However, this time that length has more to do with the many charts that you’ll find below that highlight exactly how the mortgage industry performed in 2025 by way of the gold standard in mortgage statistics, the Home Mortgage Disclosure Act (HMDA) and [iEmergent](https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.iemergent.com%2Finsights%2F2025-hmda-data-part-1%3Futm_source%3DiEmergent%26utm_campaign%3Dbd25e416a1-april_data%26utm_medium%3Demail%26utm_term%3D0_38f88169a7-bd25e416a1-578757344%23originations&data=05%7C02%7CBen.Lane%40Nafinc.com%7C156b24870245458095c408deacba5984%7C04986fa26d2846f7966ab1ac32f74fa8%7C1%7C0%7C639138113993581588%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=KyWGxTE0PvJas83Q1Ai4OVkGPxefwNfulgrZA1g1qyo%3D&reserved=0).  In 2025, mortgage lenders encountered 11.55 million mortgage applications, a gain of roughly 9% in comparison to 2024.  *Processing img c8oxhyb2lxzg1...* Of the 11.55 million, 58% (\~3 in 5 applications) resulted in a loan origination or closing. That’s essentially been the expectation over the last four years.  *Processing img 1bk5nl75lxzg1...* That 58% represented 6.75 million in total closings (53% purchase, 29% refinance, 9% other, and 9% home improvement). The driver of closings in 2025 has more to do with a rise in refinance closings than a rise stemming from purchase.  *Processing img j74rwrr7lxzg1...* All told, those closings amounted to $2.12 trillion in dollar volume for 2025, a solid improvement relative to 2023 and 2024, but still less than half of what was closed in 2021 when volume hit $4.46 trillion.  *Processing img g66ho95alxzg1...* The mortgage market continued to be fragmented with 4,749 lenders closing a loan in 2025, according to [Richey May](https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fricheymay.com%2Finsights%2Fhmda-market-share-dashboards%2F&data=05%7C02%7CBen.Lane%40Nafinc.com%7C156b24870245458095c408deacba5984%7C04986fa26d2846f7966ab1ac32f74fa8%7C1%7C0%7C639138113993635104%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=hBcTSIZtW%2BjIN1YQwefY0JnxUIqg48r6GOkaHfc5GLU%3D&reserved=0) data.  *Processing img 8wbtah5dlxzg1...* Independent mortgage companies continued to dominate the list of top lenders in 2025 (after filtering the data to just first-lien, 1-4 family, Retail, or TPO origination channels). United Wholesale Mortgage, Rocket Mortgage, and CrossCountry took the top three spots overall, with the following lenders shifting depending on what segment of the market you split the market further into.  *Processing img szbcx0zflxzg1...* The same template is provided below, but this time the market share has been quantified. The most obvious thing that jumps out is the split in domination for banks in the Jumbo space and independent mortgage lenders in the government space (FHA, VA, and USDA).  *Processing img u0ovjkxilxzg1...* That market share continues to translate through to what each institution focused on and/or was able to capture. https://preview.redd.it/9lofc7ellxzg1.png?width=936&format=png&auto=webp&s=8b813e1574ddab361980617821baa69e01eea8f3 For a look at the specific lenders within each of the mortgage market segments, here are top 25 lenders in each.  https://preview.redd.it/6m4zrc1nlxzg1.png?width=936&format=png&auto=webp&s=afb33afd79bbb6f1c7e5f4b2a23c8e349f645e71 https://preview.redd.it/yana3a1olxzg1.png?width=936&format=png&auto=webp&s=83958351916ea8d03ff3621abc0c7820d2c3d498 https://preview.redd.it/fdxkjxuolxzg1.png?width=936&format=png&auto=webp&s=42a7a3190f60d2aae4f6d1aae6da17e72bf64c9d https://preview.redd.it/6s2cdfiplxzg1.png?width=936&format=png&auto=webp&s=e6d404bbef38044b9c0e7757cbef083508a9930e https://preview.redd.it/efu5054qlxzg1.png?width=936&format=png&auto=webp&s=01451c8520e4d0943d022e8be851d1a74d511d9f https://preview.redd.it/pd30s7oqlxzg1.png?width=936&format=png&auto=webp&s=e229e0595de1912e1670571c24e42336dde9f58f https://preview.redd.it/rmsx9p8rlxzg1.png?width=936&format=png&auto=webp&s=fa71b676dbcfb9358ea817b88fe108cba4d396a6 https://preview.redd.it/vnfumburlxzg1.png?width=936&format=png&auto=webp&s=261a39be7a0aa872c74cb2fdc9c29f05a85f7bd3 https://preview.redd.it/jcsas5fslxzg1.png?width=936&format=png&auto=webp&s=2b569ff742edf300c0e7a1c7deb73cf85aeba703 Jumping back to iEmergent data, we see below that New American Funding’s “[NAF Promise](https://www.newamericanfunding.com/about-us/naf-promise/)” has been fruitful at expanding access to homeownership. * Among the top 25 lenders to Hispanic borrowers, NAF rose 2 spots in 2025 to 15th from 17th in 2024 * Among the top 25 lenders to Black borrowers, NAF rose 2 spots in 2025 to 16th from 18th in 2024 # NAF Learning Center [**Mortgage Rates Rise Slightly, But It May Still Be Easier to Buy a Home This Spring**](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-rise-slightly-but-it-may-still-be-easier-to-buy-a-home-this-spring?/utm_source=NAFInsights&utm_medium=email&utm_content=article&utm_campaign=May7&utm_term=default) Mortgage interest rates continued to rise as the war in Iran persisted. But rates are still lower than they were a year ago. Small changes in interest rates can have a big impact on the size of monthly mortgage payments. [**Buying a Home in a Hurry? Follow These 6 Tips for a Faster Closing**](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-rise-slightly-but-it-may-still-be-easier-to-buy-a-home-this-spring?/utm_source=NAFInsights&utm_medium=email&utm_content=article&utm_campaign=May7&utm_term=default) Homebuying can be equal parts exciting and stressful. On one hand, you’re about to become a homeowner. On the other, you have the waiting that comes with the homebuying process. The good news is that there are a few things you can do to speed things up.

https://preview.redd.it/hzrozfvbexzg1.png?width=1600&format=png&auto=webp&s=d074b4d4cea5a892f92612fc1c0146d058cfde99 By [Ellen Sheng](https://www.newamericanfunding.com/learning-center/authors/ellen-sheng/) May 8, 2026 This Mother’s Day, millions of Americans are celebrating their matriarchs, and some may even be considering moving back in with them. With home prices stubbornly high and caregiving demands on the rise, [multigenerational mother-daughter homes](https://www.newamericanfunding.com/learning-center/homebuyers/more-families-are-choosing-multigenerational-homes-for-this-important-reason/) may be a viable answer. In general, multigenerational living is becoming a more popular financial strategy. About 14% of homebuyers purchased a multigenerational home last year, according to the [National Association of Realtors.](https://www.nar.realtor/newsroom/baby-boomers-remain-largest-share-of-home-buyers-as-first-time-buying-falls-to-record-low) This was driven largely by Gen X and older millennials navigating the dual pressures of raising children while caring for aging parents. “It’s the sandwich generation,” said [Eva Melgarejo](https://www.newamericanfunding.com/mortgage-loans/evamelgarejo), a Long Beach, Calif.-based loan consultant at New American Funding. Melgarejo is seeing more young buyers who are starting families choosing to stay with older parents to save money. The parents are helpful with the children. And years later, the young buyers have grandparents who need more care for themselves.   # What is a mother-daughter home? The term “mother-daughter home” is more flexible than it sounds. It describes a setup where two generations share a property but maintain some separate living space. Think of a studio addition with its own entrance, or a converted basement with a private door. Common areas like the kitchen and living room are typically shared. In some cases, families opt for an [accessory dwelling unit](https://www.newamericanfunding.com/learning-center/homeowners/looking-for-ways-to-boost-your-income-consider-an-accessory-dwelling-unit-in-your-backyard/) (ADU), which is typically a smaller, detached home on the same lot. It may even be a duplex or multiplex that keeps everyone on the same property. # The advantages of mother-daughter homes are more than just saving money https://preview.redd.it/k1e8jol7exzg1.png?width=1125&format=png&auto=webp&s=95603d0473e0a7972fcce9b77ad0d2fdefeedf5a There are plenty of advantages to purchasing a mother-daughter home and they’re not all financial. Families can pool their incomes to qualify for a larger home, split utility costs, and avoid the expense of maintaining two separate households. Caregiving is often a major driver. Round-the-clock, in-home care for an aging parent can cost about $25,000 a month, according to [A Place for Mom](https://www.aplaceformom.com/caregiver-resources/articles/24-hour-in-home-care), which helps seniors and their families navigate the aging journey. That kind of expense may make the cost of [renovating a home](https://www.newamericanfunding.com/learning-center/homeowners/how-to-renovate-your-home-with-your-future-in-mind/) for an aging parent look modest by comparison. Living together also helps preserve and grow generational wealth. A home is often a family’s most valuable asset and often appreciates over time. So, a single-family home kept in the family for decades is likely to be worth more after 30 or 40 years. Families who stay together instead of downsizing preserve that long-term asset. # The disadvantages of mother-daughter homes Multi-generational living isn’t without its challenges. A lack of privacy is a common concern, particularly for adult children who are used to living independently. Sharing space, even with separate entrances, may require ongoing negotiation and compromise. The emotional demands of caregiving are also real. Living with and caring for an aging parent, particularly one with dementia or other cognitive decline, can be a full-time responsibility that can take a significant toll. “You have to put in a budget for mental health,” said Melgarejo. “It is extremely challenging.” Despite the challenges, many families find that the tradeoffs are worth it, both financially and personally. The home that negotiates shared kitchen space is also the one where grandchildren grow up knowing their grandparents. For families navigating the pressures of today’s housing market, a mother-daughter setup keeps loved ones close while building generational wealth together. # Home loans that may help you buy a mother-daughter home Making a mother-daughter home work often requires some renovation. Whether you’re looking to convert an existing space or add an addition, there are several financing options you may want to explore. # Home Equity Line of Credit A [Home Equity Line of Credit (HELOC)](https://www.newamericanfunding.com/loan-types/home-equity-loans/) allows homeowners to tap into their equity, leaving their original mortgage untouched. This is an especially appealing option for homeowners who locked in a low interest rate a few years ago. The loans work similar to a credit card in that borrowers are approved for up to a certain amount and can take out what they need during the draw period, usually five to 10 years. Then they pay it back with interest only on the amount they used over the next 10 to 20 years. Homeowners may be able to borrow up to 85% of the home’s equity, depending on the lender. However, interest rates are typically higher than for a primary mortgage but are generally lower than for a personal loan. # Cash-out refinance A [cash-out refinance](https://www.newamericanfunding.com/refinance/cash-out-refinance/) is another popular option that replaces a homeowner’s existing mortgage with a larger one, allowing homeowners to tap their equity directly. They can then pocket the difference and pay the mortgage back every month. Lenders typically recommend keeping at least 20% equity in the home. # Renovation loan A [renovation loan](https://www.newamericanfunding.com/learning-center/homeowners/looking-for-ways-to-boost-your-income-consider-an-accessory-dwelling-unit-in-your-backyard/) goes a step further. It's based on the projected value of the home after improvements are completed, not its current value. Say a homeowner needs $150,000 to add an ADU or studio addition, which would take the home’s value from $400,000 to $600,000. A renovation loan could be sized against that higher number, making more financing available than a standard cash-out refinance would allow. Funds go directly to the contractor as work is completed, not directly to the borrower. *Eva Melgarejo NMLS # 152876* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

You're doing better than you think, getting pre-approved at 640 with student loan debt while unemployed is actually a meaningful result. Don't get discouraged. A few things that may help you: **Shop multiple lenders aggressively:** Don't stop at USAA and New American Funding. Apply to as many lenders as you can. Wells Fargo, Rocket Mortgage, LoanDepot, Zillow Home Loans, and smaller regional lenders and credit unions. Zillow Mortgage should produce several leads right off the bat. I applied to roughly 8-10 lenders when I was shopping mortgages. My understanding is that multiple credit inquiries for a mortgage within a short window are treated as a single inquiry, it will not meaningfully hurt your credit score. I can share that my credit wasn't negatively affected using this strategy. This is one of the most important things buyers don't know. Doing this will produce what I call "initial offers," I took the best offer and went back to the other lenders and asked if they could beat it. Some dropped out of the race, others submitted better offers for my business. After the second round of offers I repeated a third time, and then repeated again a fourth time, as one lender after another either dropped out or submitted my new best offer. Some lenders got pissed, asked how long I was going to do this, I told them "until I hit rock bottom" and explained that if they simply produced their best offer from the beginning I wouldn't have to do this, but that this is their game and I'm just playing it. I've done this roughly 5 times with nice results, although it's an infuriating process. Remember they want your business as much as you want the mortgage. **On VA loans specifically:** No PMI (private mortgage insurance), which saves you significantly every month, with zero down payment. That's a real advantage you have that conventional borrowers don't and doesn't require the 30% down Pulte quoted you, unless you aren't using a VA home loan? **Don't forget the full payment picture:** Your monthly payment isn't just principal and interest. Budget for property taxes and homeowners insurance on top. In Florida especially, homeowners insurance had gotten brutal by the time we moved away and I doubt it's gotten any better. Get insurance quotes before you fall in love with a property because it can add hundreds per month and significantly change what you can actually afford. **On the Pulte/builder situation:** Builder lenders are almost always trying to keep the loan in-house and their automated systems are notoriously rigid. You were right to walk away from 30% down. VA loans require zero down. Our current home was a new build and the builder wanted us to use their preferred or in-house lender, but their "offer" (rate/points) was much higher than everyone else and they fell out of the running during round 2 of our mortgage offers. When we balked they weren't happy and actually screwed us a bit right before close, and stated "if you had gone with our lender" the situation would be different. Laughable. Remember it's all a business, they will take your money if you're willing to give it to them. **Lastly:** Don't be forced to buy, it's a huge decision that is really an investment and emotions should be removed if possible. If now isn't the right time, focus on reducing debt or otherwise improving your situation for when the time may be right. Be ok with walking or finding a new lender. It's strictly business and you owe nothing to any of these lenders, no matter how "nice" they are, their niceness doesn't justify paying thousands more over the course of a loan. Every time you shop for a loan those same lenders that you passed on before will line up for your business, memory is short and money talks. You're learning fast and asking the right questions. It's a game, learn the rules, develop a strategy, and don't get emotionally attached. You got this!

https://preview.redd.it/t7hoo6404rzg1.png?width=1600&format=png&auto=webp&s=dbdb6db9035f385245323fb6e3f8f035411ad137 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) May 7, 2026 Mortgage interest rates continued to rise as the war in Iran persisted. Rates ticked up to an average of 6.37% for 30-year, fixed-rate loans in the week ending May 7, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That is higher than last week, when rates averaged 6.3%. But it was still well below last year at this time, when rates averaged 6.76%. “Renewed conflict in the Middle East rattled financial markets and pushed borrowing costs higher,” [Realtor.com](http://Realtor.com) Senior Economic Research Analyst Hannah Jones [wrote in a post](https://www.realtor.com/research/freddie-mac-mortgage-rates-may-7-2026/). “After a brief period of optimism that rates might finally be settling down, this fresh escalation \[in the Strait of Hormuz\] served as a reminder that the path to lower rates runs squarely through the Persian Gulf right now,” she wrote. Homebuyers submitted 3% fewer applications in the week ending May 1 compared to the previous week, according to the [not seasonally adjusted data](https://s3141176.t.en25.com/e/es?s=3141176&e=237560&elqTrackId=efd74c1a1b7a40299e524d6e5aa03bea&elq=b9ef4daa30364eab916606d1ab0faea3&elqaid=14868&elqat=1&elqak=8AF5545A2435E42846DE098C9C5C4F07AD120B12A3E70705FFCBC9F305A754482286) from the Mortgage Bankers Association (MBA). However, applications were 5% higher than this time a year ago. Applications from current homeowners to refinance their loans were similarly down 5% from the previous week. But homeowners seized on lower rates this spring compared to last year. Refinance applications were up 29% year-over-year, according to MBA. “The ongoing conflict in the Middle East continues to push rates higher,” said MBA Deputy Chief Economist Joel Kan in a statement. “Potential first-time buyers, and buyers looking for homes at lower price points, might be the most hesitant to move forward given the economic uncertainty and higher rates.” Small changes in interest rates can have a big impact on the size of monthly mortgage payments. For instance, homebuyers who purchased a $425,000 home with 20% down and a 6.37% would pay about $87 less a month than they would last year with a 6.76% rate. That’s a savings of nearly $1,050 annually and almost $31,500 over the life of a 30-year, fixed-rate loan. “Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years,” said Freddie Mac Chief Economist Sam Khater in a statement. “Together, these trends could modestly ease affordability pressures through the spring homebuying season,” he said. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/ili3wpdnaqzg1.png?width=1600&format=png&auto=webp&s=614f96c86433c81899af842c1d475beaa575b3d6 By [Tim Maxwell](https://www.newamericanfunding.com/learning-center/authors/tim-maxwell/) May 7, 2026 Applying for a mortgage may seem like a Catch-22. When you submit paperwork for a [mortgage prequalification or preapproval letter](https://www.newamericanfunding.com/learning-center/homebuyers/pre-approved-mortgage-or-pre-qualified/), lenders look closely at your credit score to determine if you are eligible for a loan. However, when they run a hard credit check, it can temporarily ding your score. The good news is not all credit pulls affect your score. Even when hard inquiries are made for home loans, credit scores typically only drop by a few points and may recover in as little as a few months. And if you’re shopping around for a mortgage from different lenders, hard credit pulls are generally only counted once, provided the inquiries are made within a short window of time. That means your credit score won’t drop each time you apply for a mortgage preapproval from a new lender. Here’s what you need to know. # The difference between mortgage prequalifications and preapprovals When you’re getting ready to buy a home, you’ll likely run across two terms: mortgage [prequalification and preapproval](https://www.newamericanfunding.com/learning-center/homebuyers/pre-approved-mortgage-or-pre-qualified/). They’re often used interchangeably but work very differently. Getting [prequalified](https://www.newamericanfunding.com/learning-center/homebuyers/thinking-of-buying-a-home-you-may-want-to-start-with-a-mortgage-pre-qualification/) for a mortgage is an early step in the homebuying process that’s less rigorous than a preapproval. Your lender does a soft pull of your credit, which doesn’t affect your score. The lender reviews your finances, including your income, debts, and savings, and gives you a rough idea of how much you may be able to borrow. A loan approval isn’t guaranteed, however. By contrast, a mortgage [preapproval](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage/) requires more paperwork. The lender verifies your finances and reviews your documentation. This gives buyers a better idea of how much home they may be able to afford. It may also make them more competitive in the housing market. Submitting a preapproval letter with an offer shows sellers the buyers are likely to receive financing. Typically, this involves a hard inquiry on your credit report, which can temporarily lower your score by a few points, according to [Experian](https://www.experian.com/blogs/ask-experian/what-is-a-hard-inquiry/). Some lenders even use a soft pull even at the preapproval stage. “With a soft pull, you don’t have an inquiry on your credit,” said [Eva Melgarejo](https://www.newamericanfunding.com/mortgage-loans/evamelgarejo), a loan consultant at New American Funding in Long Beach, Calif. “\[That\] means your credit does not get dinged.” # How a mortgage preapproval affects your credit score https://preview.redd.it/zu6b6s4qaqzg1.png?width=1125&format=png&auto=webp&s=523eee9b672af65ad6aa9857d17cb604255a9121 When you get serious about putting down offers on properties, you often need a [preapproval letter](https://www.newamericanfunding.com/learning-center/homebuyers/a-competitive-edge-why-you-need-a-pre-approval-letter-in-a-hot-housing-market/). This can give you a competitive edge when you’re vying against multiple other buyers for the same property. Preapprovals are typically the first step toward securing a mortgage. It’s a more stringent process that may require a hard inquiry on your credit. A hard inquiry typically drops your [credit score](https://www.newamericanfunding.com/learning-center/homebuyers/why-your-credit-score-keeps-changing-and-what-homebuyers-should-know/) by no more than five points, according to Experian. Its impact on your score generally lasts for about a year. But your score may recover sooner after a few months of making consistent, on-time payments on your credit debts. If you're shopping multiple lenders to compare rates and terms, you may be worried that each one pulling your credit will compound the damage. Fortunately, credit scoring models account for this. FICO generally counts multiple mortgage inquiries made within a 45-day window as one for scoring purposes. VantageScore, another popular credit scoring model, considers several hard inquiries made over a 14-day period as a single inquiry. So, if you apply with a few lenders during those periods, your credit score won’t be negatively impacted multiple times.  Safeguard your credit by doing your loan shopping within this time window rather than spreading applications out over several months. # Why your credit score matters when applying for a mortgage If you’re planning to apply for a mortgage soon, making sure your [credit is as strong as possible](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-a-good-credit-score-if-you-hope-to-buy-a-home-or-refinance-your-mortgage/) may improve your approval odds and save you substantially on your home loan. Borrowers with higher scores may qualify for more kinds of mortgages. And they often receive lower [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/), because lenders view them as less likely to stop making their monthly payments. “The higher your \[credit\] score, the more \[loan\] options you’re going to have,” said Melgarejo. # Protect your credit during the preapproval process Even after you’ve been preapproved for a home loan, it’s still crucial to [protect your credit](https://www.newamericanfunding.com/learning-center/videos/how-to-boost-your-credit-score/). That means avoiding large purchases, when possible, or opening up additional credit cards. You also want to ensure you’re paying off your debt on time each month. “When we are prequalifying borrowers, we’re prequalifying them based on the numbers that we see at that current time. \[That’s\] their paycheck, their income, as well as their \[credit\] score and their \[debts,\]” said Melgarejo. "So, if all of a sudden, they…buy furniture for their future home, and they put that on credit, well now they have more \[debt.\]” That may affect their ability to qualify for the loan they were prequalified or preapproved for from their lender. *Eva Melgarejo NMLS # 1525876*  [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

I recently got pre approved with USAA unfortunately only for $480,000 as my middle score is really low at 640, I have student loans at $44,000 rightnow, it’s my only debt and with pension and disability I only make $8k a month, I am unemployed, anyways I am new to home buying and with the help of my realtor and YouTube I have been learning alot but Pulte mortgage wanted me to use their lender and after spending $11,000 on builder fees and credit reports ordered and stuff I declined because they wanted me to put down 30 percent based on their automated system which was outrageous to me. I don’t think they did manual underwriting at all, I was pre approved with new American funding for $480 aswell, as if rightnow I’m doing the formal mortgage application with usaa and I am just discouraged because the home buying process is not as easy as I thought it would be at all and I almost simply want to go back to renting, I tried with navy federal but they sued me for a credit card 12 years ago and I won in court, but due to that loss I can’t ask for them for anything unless I pay off the loss. Do you think I’ll have any luck in actual approval with USAA?

https://preview.redd.it/qjefkeef5jzg1.png?width=1600&format=png&auto=webp&s=4713629b9680a92b9639ebb61096fb82ccbc34b6 By [Stephanie Mickelson](https://www.newamericanfunding.com/learning-center/authors/stephanie-mickelson/) May 6, 2026 Homebuying can be equal parts exciting and stressful. On one hand, you’re about to become a homeowner. On the other, you have to [deal with paperwork](https://www.newamericanfunding.com/learning-center/homebuyers/applying-for-a-mortgage-the-crucial-documents-homebuyers-will-need/), [home inspection reports](https://www.newamericanfunding.com/learning-center/homebuyers/homebuyers-beware-why-you-shouldnt-skip-home-inspections/), and waiting that comes with the homebuying process. The good news is that there are a few things you can do to speed up how fast you can close on a home.  “The work done ahead of schedule before you write an offer is key,” said real estate broker Jeff Lichtenstein of Echo Fine Properties in Palm Beach Gardens, Fla. “Working with a lender who understands the local market helps get through some of the nuances of different homeowner associations and local rules.”  # How long does closing on a home take?  Closing on a home can take between a week and a few months, but the timeline is typically between 30 and 45 days. Homebuyers need to provide documentation to their lenders and go through [loan underwriting](https://www.newamericanfunding.com/learning-center/homebuyers/understanding-the-underwriting-process-a-behind-the-scenes-look-at-approving-home-loans/), order inspections, and [have the home appraised](https://www.newamericanfunding.com/learning-center/videos/why-homebuyers-need-an-appraisal/), among other things.   Being prepared ahead of time and having your documentation ready can move the process along faster.   # 1. Gather the necessary documents for your mortgage When you apply for a mortgage loan, you’ll need a provide documentation to prove who you are, your income, and information on your debts. Typically, you need bank statements, two years of tax returns, debt statements, and identification. Additional documents may be requested if you’re self-employed or a W-2 employee of an organization.  Self-employed applicants will need bank statements or 1099 forms as proof of income and business tax returns. Those who are employed will need W-2s.  Your lender should explain the requirements to ensure you’ve gathered everything you need. # 2. Get preapproved (not prequalified) for a mortgage When you begin your home search, getting [prequalified for a mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/thinking-of-buying-a-home-you-may-want-to-start-with-a-mortgage-pre-qualification/) from a lender gives you a general idea of if you may be able to secure a home loan and how much you may be eligible to borrow. But this process is less rigorous than getting [preapproved for a loan](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage/) and generally won’t speed up the closing.  The preapproval process, however, requires a more detailed review of your financials and typically a credit check. This gives you a more realistic idea of the mortgage you may be able to secure. If you’re preapproved before your offer on a home is accepted, it can speed up the underwriting process and ultimately the closing timeline. That’s because the lender will already have much of the documentation they need to officially approve the loan.  # 3. Schedule home inspections and appraisals quickly https://preview.redd.it/fnb4kv3i5jzg1.png?width=1125&format=png&auto=webp&s=d0905244c0508abda355a0f6573b33ea66efc89b Once your offer on a home has been accepted, you will want to get the appraisal and inspection done as quickly as possible if you’re hoping for a swift close. Waiting on either of these can delay the homebuying process.  Typically, your lender will schedule the appraisal and you will be responsible for setting up the inspection. Buyers are typically billed for both. Lenders need to see the appraisal to make sure they’re not lending you more than the home is worth. And a home inspection protects the buyers, so they know of any issues with the property before the sale.   # 4. Do a title search on the home early After you sign the purchase agreement on a property, make sure the title search is done as early as possible. If there are any liens (debts) on the property or ownership disputes, resolving them can slow down closing. The earlier you do this, the better. # 5. Don’t do anything to hurt your credit score The thing that surprises homebuyers is the things they *shouldn’t* do that could alter their credit score and slow down the closing. To prevent any changes to your credit score, avoid making any large purchases, pay your bills on time, and don’t open up any new lines of credit. “Make sure you’re paying your bills,” said Lichtenstein. “Avoid anything big like purchasing a car. Run away from anything where your credit will be pulled, and don’t lose your job or switch jobs until after the closing.” # 6. Consider making a cash offer on a home One of the fastest ways to close on a home is to pay for the property in cash if you can afford to do so. This way you don’t have to go through the loan approval process. “Cash is king and will always have an advantage over mortgages,” said Lichtenstein.  Most homebuyers don’t have that kind of money available. However, some lenders can help by allowing homebuyers to [make a cash offer](https://www.nafcash.com/) and expedite closing. Essentially, the lender puts up the cash to purchase the home. You pay rent on the property until your mortgage closes and then you buy back the home from the lender. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Football is power and influence. Buying top club buys you access. All the stands of the most powerful clubs are filled to the brim with the powerful local people (companies, politics, businessmen, media, even intelligence, cops, justice, etc etc) and international ones. Whether those people are deep fans or casuals it doesn't matter, most doors open for the owners of a top club. See how Infantino travels the world and get received by countries with head of state protocol. Though that doesn't mean owners have to mismanage their investment this badly. On the other hand the new "American funds investors" seem to be also very bullish on the idea that European football is undervalued and they are the genius that will profit from it in the future once the "good steps" have been made. Just like with Formula 1.

https://preview.redd.it/p3z89jy72czg1.png?width=1600&format=png&auto=webp&s=b7981ba589494ea31315e9c1046429f51c8f29ff By [Timothy Moore](https://www.newamericanfunding.com/learning-center/authors/timothy-moore/) May 5, 2026 Picture this: You find a great home at a good price, but you decide to sleep on it before submitting an offer. When you wake the next morning, eager to move forward, mortgage interest rates have ticked up by a quarter of a percent. Suddenly, you're wishing for may be beyond your financial reach. It’s a frustrating reality of today’s housing market: [Mortgage rates](https://www.newamericanfunding.com/mortgage-rates/) don’t sit still. They move up and down, often multiple times a day. But there are steps you can take to [lock in a rate](https://www.newamericanfunding.com/learning-center/videos/should-you-lockor-floatyour-mortgage-interest-rate/) and insulate yourself from swings. Even small shifts in interest rates can have a meaningful impact on which home you can afford and how much your monthly housing payment will be each month. For homeowners hoping to [refinance](https://www.newamericanfunding.com/refinance/) an existing mortgage, a rate jump can be equally frustrating. “These changes can be substantial,” said Realtor Alexei Morgado, founder and CEO of [Lexawise](https://www.lexawise.com/), a real estate exam preparation company. So why *do* rates move so much, and so fast? And what can you do to protect yourself? Here’s what you need to know. # Does the Fed set mortgage rates? Many homebuyers believe the U.S. Federal Reserve sets mortgage rates. That’s not true. The Fed determines its Federal Funds rate, an interest rate that is separate from mortgage rates. However, the Fed’s rates influence mortgage rates. So, when the Fed indicates it’s likely to cut rates, mortgage rates often dip. Similarly, if the Fed is likely to raise rates, mortgage rates generally increase. # How bonds affect mortgage interest rates To understand [why mortgage rates fluctuate](https://www.newamericanfunding.com/learning-center/homebuyers/why-mortgage-rates-change-and-what-it-means-for-you/), it helps to know what drives them in the first place. Rates are closely tied to the yield on 10-year U.S. Treasury bonds, which are a low-risk investment. When investors buy more bonds (typically in times of economic uncertainty), bond yields fall, and mortgage rates tend to follow. When investors later sell those bonds and move money into riskier assets, like stocks, bond yields rise. And so do mortgage rates. # Other market movers that impact mortgage interest rates https://preview.redd.it/dwhflkkd2czg1.png?width=1125&format=png&auto=webp&s=707ea39ffe5015458181acad5333390cb437ee54 Like the economy as a whole, mortgage rates are complex. There are so many other factors that can send them up and down. “Anything that affects investors, such as employment numbers, inflation, or world events, can cause your rate to change several times an hour,” said Morgado. That can include: * Economic data, such as inflation, gross domestic product (GDP) growth, and unemployment rates. That’s because the Fed typically raises rates to bring down inflation or lowers rates if unemployment is high. * Major world events, such as war, political instability, destructive storms, or, as we saw earlier this decade, global pandemics. # How minor rate changes can impact your ability to buy a home A quarter point rate change in either direction may not sound significant. But when you’re purchasing something that costs several hundreds of thousands of dollars and paying it back over 30 years, a slight fluctuation in rates can have a major impact on how much you spend each month and in the long run. “If you are buying a house today…\[for\] about $400,000, a small change of a quarter of a percent in interest rate can change the [monthly payment](https://www.newamericanfunding.com/learning-center/homebuyers/whats-really-in-your-monthly-mortgage-payment-breaking-down-the-costs/) by about $65,” Morgado explained. Over a 30-year mortgage, that difference will cost you roughly $23,000. When you factor in new-to-you costs as a first-time homebuyer, such as home insurance, property taxes, [private mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/), higher potential utility costs, HOA fees, and home repairs, a $65 difference in your monthly budget can be a big deal. # How to protect yourself from rate volatility The good news? There are steps you can take to reduce your exposure to rate swings: # Lock in your rate Once you’re under contract on a home, ask your lender about a [rate lock](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-a-mortgage-interest-rate-lock/). This guarantees your interest rate for a set period (usually 30 to 60 days) while you work through closing. If you like your rate and are worried rates may increase in the coming weeks, this can be a smart move. # Ask about a float-down option https://preview.redd.it/5ct3yasg2czg1.png?width=1125&format=png&auto=webp&s=7ebae0eff7c14675d15599e3039aadc4837012bd If you’re worried rates could go down after you lock in yours with your lender, you can instead ask about a float down. “A float down is a rate lock that cannot be raised, but *can* be lowered if rates fall before closing,” Morgado explained. “Everyone should ask their lender about this before they’re under contract, because rates are changing so quickly.” # If you’re refinancing your home loan, watch the break-even point If you’re hoping to refinance, run the numbers on how long it will take to recoup the closing costs (called the [refinance break-even point](https://www.newamericanfunding.com/learning-center/homeowners/homeowners-heres-how-to-calculate-the-mortgage-refinance-break-even-point/)). If rates have started to inch back up after you’ve been watching the market, but they’re still notably lower than your current rate, it may still make sense to refinance to lower your payments. You want to make sure you’ll recover the refinance costs within a few years. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

By the way thanks to everyone who replied this post, as of anyone who told me I can’t get approved with my current work history well I got approved with my work history for a house mortgage , I just feel some loan companies are very weak and don’t have enough resources or knowledge to make the process seamless, I Went through three ones, the first told me I need to invest in a company and then process the loan from that point to be approved which was very insane, the second tried to scam me with very high monthly payments, and tried to just benefit from my actual situation, I sadly can’t mention their Names but the third one was very transparent and seamless, went straight to the point and helped me unlock my dream to be home owner, that one I can confidently mention their name as they changed my life: New American Funding if anyone wants to get straight contact of the person I can share it through DM or even here if they approve they already told me if I had friends to refer them to them that company is just awesome with all the amount of help I got and they are top on following up the process took less then a month and half and I got the keys, today I’m home owner and wish that every American living on this great land to be a home owner as well. Good luck folks you will reach your dreams one day, keep the faith!

https://preview.redd.it/n88m95aru4zg1.png?width=1600&format=png&auto=webp&s=737d1c77a012bbda0af89dd27777efddc8185e8d By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) May 4, 2026 In honor of Asian American and Pacific Islander Heritage Month, we’re taking a closer look at one of the most powerful ways many Asian American families are building lasting wealth: homeownership. Asian American, Native Hawaiian, and Pacific Islander (AANHPI) households are among the fastest-growing groups of U.S. homeowners. The population now totals roughly 26.8 million people nationwide, according to the [U.S. Census Bureau](https://www.census.gov/programs-surveys.html?utm_campaign=20260421pios&utm_medium=email&utm_source=govdelivery). For AANHPI households, buying a home is not the moment wealth is made. Staying in it for long periods of time allows them to build valuable equity. That is the central finding of a recent [report](https://www.urban.org/research/publication/aanhpi-homeownership-and-wealth-building-trajectories) from the Urban Institute, which tracks how wealth evolves for AANHPI homeowners. # The homeownership equity arc for Asian American households Building wealth through homeownership is a long game. Median home equity hovers around $180,000 in the first five years of AANHPI ownership, according to the Urban Institute. Then it typically almost doubles to more than $340,000 by years six through 10 and keeps climbing. The slower equity building at first is because early mortgage payments go mostly to interest. And the homebuying costs absorb much of the initial appreciation. However, what may feel like a stretch of equity building in the first years of homeownership is the foundation being laid. When AANHPI households draw on home equity, it’s often used to fund broader family and financial goals, such as spending on education.  # Many Asian American households stay in their homes for longer periods https://preview.redd.it/am3kunytu4zg1.png?width=1125&format=png&auto=webp&s=876f440e058bf26bb4fc32aadfc401dd84fb8e86 Many AANHPI households hold onto their homes longer than other groups. Real estate is often used as part of a multigenerational financial strategy rather than as a short-term asset. What might look like cultural preference turns out to be precisely the behavior that building equity rewards. “The AANHPI community greatly values homeownership as many of the older generations have built their wealth from homeownership,” said [Justin Chau](https://justinmchau.com/), a real estate agent at exp Realty in California’s San Gabriel Valley. “It’s also important to note that the AANHPI community has a lot of restaurant and business owners, who already deal with commercial real estate on a regular basis,” he said. Households that sell early often give up much of the equity once closing costs and early loan structures are factored in. The longer AANHPI homeowners stay, the more the underlying math works in their favor. # Who is getting left out of homeownership? The gains in AANHPI homeownership are real, but access to them is uneven, and disparities begin at the point of entry. Higher mortgage denial rates, language barriers, and low participation in homebuying assistance programs shape which AANHPI households enter the housing market. Their equity building is often based on the terms of their home loans, geographic location, and income levels. This can all influence how much wealth any given homeowner ultimately accumulates. For those who become homeowners, strained budgets can force a sale before equity has had time to build. Even for those who stay over the long term, the wealth their homes hold isn’t always easy to reach. Disparities in refinancing and cash-out access limit how readily AANHPI homeowners may be able to use their equity. Nearly half of Asian homeowners age 65 and older expect to leave an inheritance, a higher share than in other groups, according to the report. Yet only about 10% report having received one themselves. “The idea of owning a home as an investment to grow equity and eventually use that equity to expand their businesses has always been appeal\[ing,\]” said Chau. “And \[that\] is why households tend to avoid selling in order to maximize equity growth.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/qftra2hecjyg1.png?width=1600&format=png&auto=webp&s=87943dae9cc9396ec2dc8bafea3daba35dccf5bc By [Meera Pal](https://www.newamericanfunding.com/learning-center/authors/meera-pal/) May 1, 2026 For millions of Americans, homeownership has always been part of their plan for the future. Then the years go by, and that plan may feel increasingly unlikely. But it isn’t. The average age of [first-time homebuyers](https://www.newamericanfunding.com/first-time-homebuyer/) has risen, with more Americans making their first purchase in middle age and beyond. While a later start means fewer years building equity, it gives buyers time to [improve their credit scores](https://www.newamericanfunding.com/learning-center/videos/how-to-boost-your-credit-score/), come up with [larger down payments](https://www.newamericanfunding.com/learning-center/homebuyers/saving-for-a-down-payment-is-getting-easierand-help-is-available/), and have a clearer sense of [what they need in a home](https://www.newamericanfunding.com/learning-center/homebuyers/8-questions-for-homebuyers-what-do-you-want-and-need/). “It’s rarely too late to invest in the market,” said [Ryan Fitzgerald](https://raleighrealty.com/agents/ryan-fitzgerald), owner and broker at Raleigh Realty in North Carolina. “Many buyers in their 40s, 50s, or even 60s find that the wait has allowed them to save more money, clarify their priorities, and enter the market with a better financial foundation.” Here’s what older first-time homebuyers need to know, and why the timing may work more in their favor than they realize. # More Americans are buying their first home later in life The average age of the first-time homebuyer is at an all-time high, and that’s not necessarily a bad thing. The typical first-time buyer was 40 in 2025, according to the [National Association of Realtors](https://www.nar.realtor/newsroom/first-time-home-buyer-share-falls-to-historic-low-of-21-median-age-rises-to-40). That was up from 38 just a year earlier. And it represents a major jump from the late 1980s, when the typical first-time buyer was in their late 20s. Why are homebuyers getting older? High home prices, rising rents, and [student debt](https://www.newamericanfunding.com/learning-center/homebuyers/how-homebuyers-may-qualify-for-a-mortgage-with-student-loan-debt/) have made it harder for many buyers to save up for down payments and [closing costs](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/). But when older buyers do arrive at the closing table, they are often better prepared than they would have been a decade (or two) earlier. “Older buyers often have better savings than younger buyers, due to a lifetime of working and saving,” said [Steven Gottlieb](https://cbwarburg.com/agent/steven-gottlieb), a real estate agent at Coldwell Banker Warburg in New York City. “More liquidity on hand can put a buyer in a stronger position to make a larger down payment or pay all cash for a property.” # The advantages of homeownership at any age https://preview.redd.it/4wboinabcjyg1.png?width=1125&format=png&auto=webp&s=cb1d2a89cb12168f90b0048adbb294d59a601b33 While renting has its advantages, building someone else’s home equity isn’t one of them. When you own your home, every mortgage payment reduces your loan balance and builds equity in an asset you control. And unlike a lease, the principal and interest on a fixed-rate mortgage won’t increase at renewal time. Beyond the financial aspects, homeownership means the space is yours to make your own. So, you can paint the walls, renovate the kitchen, and create a space that reflects your life in a way renting doesn’t allow. That’s provided local laws and homeowners associations rules permit it. “There is a sense of stability and permanence that comes with homeownership,” said Gottlieb. # Being an older homebuyer may work in your favor Doing things later in life doesn't have to mean you’re falling behind. In many ways, it means you’re better positioned. Buyers who choose to become homeowners in their 40s or 50s often have advantages that younger buyers are still working to build: more savings, higher incomes from being further along in their careers, stronger credit histories, and financial knowledge built over decades. Many are also clearer on what they need in a home. That can translate into fewer costly mistakes. “They have clarity, certainty, and conviction about what they want and need, and a sense of realism around what their budget can actually help them attain,” said [Nikki Beauchamp](https://www.sothebysrealty.com/eng/associate/180-a-df23111017131011821/nikki-beauchamp), an associate real estate broker at Sotheby’s International Realty in New York. # Buying a home and your retirement For buyers closer to retirement, the question isn’t necessarily whether they should buy, but how to structure their mortgage smartly. The good news is there are plenty of home loans available to accommodate their needs. Buyers who want to minimize long-term interest payments and pay off the home before they stop working can opt for a [15-year](https://www.newamericanfunding.com/loan-types/15-year-fixed-mortgage/) or [10- or 20-year loan term](https://www.newamericanfunding.com/loan-types/i-can-mortgage/) instead of the standard 30-year loans. Monthly payments will be higher, but the interest savings are significant. And for many retirees, eliminating a mortgage payment entirely changes the math on retirement income. “A fixed-rate mortgage is usually preferable because it avoids interest rate fluctuations,” said [Veronique Perrin](https://cbwarburg.com/agent/veronique-perrin), a real estate agent at Coldwell Banker Warburg. # The bottom line: It’s never too late to buy your first home When it comes to homeownership, there really is no expiration date. No matter your age, buying a home means trading a monthly expense for a long-term asset that builds equity and may offer stability and control over how you live. “One of my oldest first-time buyers was well into her 70s when she bought,” said Beauchamp. “Every buyer journey is so unique.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/a6lc4bacheyg1.png?width=1600&format=png&auto=webp&s=bda0f35408d094648a21f53ce237e39a9566e605 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) April 30, 2026 [Mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) ticked up a little as the war in Iran continued to push up rates. Interest rates averaged 6.3% for 30-year, fixed-rate loans in the week ending April 30, according to [Freddie Mac](https://www.freddiemac.com/pmms). That was up from 6.23% in the previous week. However, rates are down nearly half a percentage point from 6.76% from this time a year ago. Combined with slightly lower home prices, that makes buying a home more affordable in many markets than it was last spring. The typical home list price was down 2.2% year-over-year in March to a median of $415,450 nationally, according to the most recent [Realtor.com data](https://www.realtor.com/research/data/). “As rates had modestly declined the last few weeks, purchase demand has accelerated with purchase applications rising to over 20% above a year ago,” said Freddie Mac Chief Economist Sam Khater in a statement. “It is clear that purchase demand continues to hold up as prospective buyers react to both modestly lower rates and more inventory to choose from than the last few years,” he said. Mortgage applications to [buy a home](https://www.newamericanfunding.com/buy-a-home/) rose 21% year-over-year in the week ending April 24, according to the [Mortgage Bankers Association](https://s3141176.t.en25.com/e/es?s=3141176&e=236263&elqTrackId=efd74c1a1b7a40299e524d6e5aa03bea&elq=f4510dbbe58f498cb1ff9e981513316a&elqaid=14795&elqat=1&elqak=8AF57DBB78772CBFE735BA264680E93A618D3192F2E6D9FE9328D0102320915114C2) (MBA). Applications to [refinance an existing loan](https://www.newamericanfunding.com/refinance/) were 51% higher than the same week last year, according to MBA. Many real estate experts expect that rates will remain in the low 6% range until the war in Iran is resolved. The U.S. Federal Reserve [kept its short-term interest rates unchanged](https://www.newamericanfunding.com/learning-center/housing-news/the-fed-isnt-cuttingor-hikinginterest-rates.-is-that-good-for-the-housing-market) at its meeting this week. While the Federal Funds rate is different from mortgage rates, mortgage rates are influenced by the Fed’s rate. So, if the Fed indicates rate cuts are on the horizon, mortgage interest rates are likely to come down. “The fact remains that we are not going to see rates fall below 6% anytime soon,” said Bright MLS Chief Economist Lisa Sturtevant in a statement. The multiple listing service covers the mid-Atlantic region. “Geopolitical and labor market uncertainty create headwinds to housing market activity,” she said. “But changing family circumstances and needs will bring out buyers and sellers despite that uncertainty.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/k2b23uomccyg1.png?width=1600&format=png&auto=webp&s=a49309cddf527d6b17e60a8bcf5e415ac91e119e By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 30, 2026 In recent years, buying a home often meant moving fast and paying asking price (or more.) Yet this spring, [buyers](https://www.newamericanfunding.com/learning-center/homebuyers/) have more room to negotiate an offer and save in various ways. What’s different? More homes are hitting the housing market, and they are not all selling the same way. Some still draw quick offers. Yet others linger and sometimes the sellers of those properties cut prices. And that may open the door for buyers. Negotiations have returned. A successful one for buyers comes down to understanding the market, figuring out what the seller wants, and using each stage of the deal to shape the outcome. “Buyers this spring should remember that negotiation is not only about price,” said [Matiah Fischer](https://www.totalsocalhomes.com/real-estate-leads/real-estate-leads-in-orange-county/), founder and team leader at TotalSoCalHomes in Pasadena, Calif. “And \[a negotiation\] does not happen only once.” Here’s what buyers can do to negotiate an offer in today’s market. # Homebuyers should look at how much interest the home is receiving Some homes generate immediate interest. Others don’t, forcing sellers to adjust their expectations. That difference should guide how buyers approach a deal. “When homes are sitting longer, price reductions are more common,” said Fischer. “Pay close attention to days on market and recent price cuts. Those are often the strongest signals that a seller may be flexible.” Timing matters as well. “If a home has been listed for 14 or more days, your position gets stronger,” said [Devin Henry](https://www.nomadicrealestate.com/our-team/devin-henry/), president of Nomadic Real Estate in Washington, DC. **What homebuyers can do:** Match your offer to the home listing’s performance. Buyers may move quickly on a new listing that’s drawing attention. But when a home has been sitting, test the seller’s flexibility with a lower offer or stronger terms. # Figure out what the home seller wants Price is only one part of the equation. “The best advice I can give to a buyer is to understand what the seller is looking for,” said [Justin Chau](https://justinmchau.com/), a real estate agent in California’s San Gabriel Valley. “Some sellers would rather sell ASAP than for the highest price.” While some sellers want speed, others want a simple deal with fewer contingencies. Some are willing to accept a lower price for a deal that appears likely to close. Those priorities are not always stated outright, but they can often be uncovered. “Start by asking the listing agent questions as to what the seller wants to see most in an offer,” said Chau. **What homebuyers can do:** Shape your offer around those priorities. That can mean providing a faster close, limiting [contingencies](https://www.newamericanfunding.com/learning-center/homebuyers/what-contingencies-you-should-consider-when-buying-a-home/), or giving the seller flexibility on timing if that matters more than price. # Stop focusing only on the home’s price https://preview.redd.it/wo1yuxvqccyg1.png?width=1125&format=png&auto=webp&s=1c50adfe7ff1a226a673c2a0556794b7b7faf542 The overall price still matters, but it is no longer the only place buyers can gain ground. “Start looking at what other aspects are also available to negotiate,” said Henry. Some sellers eager to close a deal will cover part or all of the buyer’s [closing costs](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/). This usually adds up to 2% to 6% of your mortgage amount. Other terms in the deal also carry weight. “The [inspection](https://www.newamericanfunding.com/learning-center/homebuyers/homebuyers-beware-why-you-shouldnt-skip-home-inspections/) contingency, finance contingency, and settlement date are all negotiable items, too,” said Henry. **What homebuyers can do:** Use those levers. Ask for closing cost credits, negotiate a [rate buydown](https://www.newamericanfunding.com/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands/) to temporarily lower your mortgage interest rate, or adjust timelines to reduce upfront cash without changing the purchase price. # Use the home inspection as a negotiating tool The home inspection reveals the state of the home: what needs to be replaced, fixed, and the shape of the structure and systems. Not every issue carries the same importance. “Focus on meaningful items that affect condition or cost, not minor cosmetic issues,” said Fischer. Some problems are not immediately visible. “I’ve handled claims on homes that showed well but later turned out to have damage covered by repairs done just well enough to get through inspection,” said [Alex Adekola](https://readyadjuster.com/about-us/), CEO and founder of the nationwide Ready Adjuster. That information can change the terms of a deal. “Try to negotiate a credit,” said Adekola. That credit can help buyers pay for repairs. **What homebuyers can do:** Use the inspection to request repairs or credits tied to real costs, focusing on issues that materially affect the home rather than cosmetic fixes. # Keep negotiating as the deal moves forward Many buyers treat the home negotiation as a single step tied to the offer. But it typically continues throughout the transaction. “The biggest mistake I see is buyers negotiating only once,” said Fischer. “Negotiation can happen before the offer, during inspections, and again at the final walkthrough.” Each stage introduces new information that can shift leverage, from inspection findings to financing details to last-minute issues before closing. **What homebuyers can do:** Revisit the terms at each stage. Use new information to adjust the deal rather than treating the first agreement as final. # Make your offer on a home easy to accept Even in a shifting housing market, home sellers are looking for certainty. A clear, well-structured offer backed by strong documentation can carry more weight than a higher number that feels uncertain. Henry described a recent deal in which holding firm on price while requesting closing cost coverage led to a quick agreement. “We received a ‘yes’ back from the sellers within 24 hours,” he said. Preparation strengthens that position. “If you have solid documentation for \[a mortgage\] [pre-approval](https://www.newamericanfunding.com/learning-center/homebuyers/a-competitive-edge-why-you-need-a-pre-approval-letter-in-a-hot-housing-market/), it will help your requests to be received with less friction,” said Henry. **What homebuyers can do:** Submit a complete, clean offer with a [preapproval letter from a lender](https://www.newamericanfunding.com/buy-a-home/), limit unnecessary contingencies, and make it easy for the seller to say yes. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/x6jw9zu985yg1.png?width=1600&format=png&auto=webp&s=1b9853adb0dfbd6d54edb536f7735bf1061a657d By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 29, 2026 America’s homes are getting older. That can mean charm, character, and established neighborhoods. It can also mean systems nearing the end of their lifespan, with costs that don’t always show up at first glance. The typical U.S. home is now middle-aged at 44 years old, the oldest on record, according to a new analysis from the [Harvard Joint Center for Housing Studies](https://www.jchs.harvard.edu/news-media/media). For [homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/), that doesn’t change the appeal of these homes. It does change how to evaluate them. The goal isn’t to avoid older homes. It’s to understand what to look for, what to ask, and how to plan accordingly. That starts before you even make an offer. Ask for the age of major systems, not just the home itself. These answers help you understand whether you’re buying something that was recently maintained or is due for replacement. Here’s what you need to know. # Older homes come with built-in maintenance In many homes built in the late 1970s through the 1990s, major systems are already aging and replacements may be needed sooner than expected. “One of the biggest hidden costs is the roof that looks fine from the ground,” said [Daniel Cabrera](https://roofdirectsa.com/about/), owner of Roof Direct San Antonio in Texas. “People inspect the kitchen and bathrooms. But they don’t go into the attic, where you \[may\] find deteriorated decking, poor venting, and sometimes multiple layers of shingles.” Those roofs often need a full replacement, not minor repairs. Cabrera said roof replacement costs in his market typically range from $8,000 to $17,000, depending on the home. It can be more depending on where you live. For buyers, that means budgeting ahead. Setting aside 1% to 3% of the home’s purchase price annually can help cover the costs of major repairs. # Other big-ticket issues homebuyers overlook Some of the most expensive problems in a home are the easiest to miss. “Buyers should pay extra attention to the condition of the foundation,” said [Justin Chau](https://justinmchau.com/), a real estate professional in San Gabriel, Calif. Repairs can run into the tens of thousands of dollars, depending on the extent of the issue. Plumbing is another frequent surprise. Because these systems are hidden, buyers often underestimate the risk. “Buyers often assume nothing will go wrong,” said Chau. “They don’t account for the fact that the home will most likely need upgrades sooner or later.” To protect against that, Chau recommends that buyers also use [home inspections](https://www.newamericanfunding.com/learning-center/homebuyers/buyer-be-warned-what-home-inspections-dont-always-catch/) as leverage. If issues arise, ask for [seller credits](https://www.newamericanfunding.com/learning-center/homebuyers/seller-credits-why-homebuyers-should-take-advantage-of-them/) or repairs before closing rather than absorbing the costs later. # Homes that look move-in ready may not be https://preview.redd.it/lyachwkc85yg1.png?width=1125&format=png&auto=webp&s=49fbd49f818c29431d7abe16ca113a95b867b579 Cosmetic updates can be misleading. Floors that look level, tile that appears intact, and freshly updated finishes can hide deeper issues that only show up once work begins. “We’re in older homes all the time,” said [Daniel Ilinykh](https://www.baywayflooring.com/) of Bay Way Flooring in Tampa, Fla. “A lot of them look fine until you start working. Then you see uneven floors, old tile jobs, and moisture that’s been sitting there for years.” That often shifts a buyer’s plans. “We’ve had jobs where we couldn’t even start until the floor was fixed first,” said Ilinykh. “That’s where people get hit on cost. They plan for updates but end up fixing what’s already there.” A smart approach is to prioritize function over finishes. If you must, choose to address structure and systems first, then circle back to design updates once the home is stable. # Older homes can still be smart buys Despite the risks, older homes remain some of the most competitive listings in today’s market, especially for buyers priced out of newer construction. “Older homes are definitely more attractive right now because of their price,” said Chau. “Finding an older fixer\[-upper\] in an attractive neighborhood is like finding gold on the sidewalk.” These homes may also have historic details and other charms. That trade-off, location, and price in exchange for future work can work in a buyer’s favor. In some cases, sellers are already factoring needed repairs into pricing or offering credits. A home with a recently replaced roof or updated systems can also offer strong value compared with a newer property where maintenance has been deferred. # Don’t skip the home tests that matter Standard inspections are a starting point, not a full safety net. “The biggest hidden cost buyers miss is the well and septic,” said [Pete Nase](https://homeguide.com/), owner of TheHomeGuide. Homes built before the 1970s often rely on older systems that may be near the end of their lifespan. A septic system, for example, typically lasts 30 to 40 years, and replacement can cost $15,000 to $40,000. Electrical systems can also pose risks that go beyond cost. Some older panels and wiring types are considered fire hazards and can make it difficult to secure homeowners’ insurance. To get ahead of these issues, Nase recommends going beyond the standard inspection, especially for homes over 30 years old. “Spend $400 to $600 on three independent tests,” he said, including a sewer scope, a water test if the home uses a well, and a radon test. “These catch the expensive problems that standard inspections routinely miss.” For buyers, that extra step can provide clarity before closing and leverage during [negotiations](https://www.newamericanfunding.com/learning-center/homebuyers/home-price-cuts-how-to-find-properties-with-price-cuts-and-negotiate-an-even-better-deal/) if issues surface.   [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/f9gma9vf2yxg1.png?width=1600&format=png&auto=webp&s=306269e55343579ad43e8dbd28180219725b5ec1 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 28, 2026 For many [homebuyers](https://www.newamericanfunding.com/learning-center/housing-news/what-homeowners-wish-they-knew-before-beginning-the-homebuying-process/) and [home sellers](https://www.newamericanfunding.com/learning-center/homebuyers/when-is-the-best-time-to-sell-a-home-two-new-studies-point-to-spring/), today’s housing market may feel like a missed opportunity. [Mortgage rates](https://www.newamericanfunding.com/mortgage-rates/) dipping below 3% during the pandemic reset expectations for homebuyers who jumped on these record-low interest rates. With rates now in the 6% range, it’s tempting to wait for something closer to those lows. But that comparison only holds if you treat 2020 and 2021 as normal. They weren’t. Those ultra-low rates came with a highly competitive market, in which homebuyers were often forced to move quickly, waive [contingencies](https://www.newamericanfunding.com/learning-center/homebuyers/what-contingencies-you-should-consider-when-buying-a-home/), and stretch their budgets just to secure a home. Today’s market looks very different, and [today’s rates](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-drop-to-lowest-level-in-a-month/) reflect a more typical borrowing environment. In a more competitive market, a lower rate can mean fewer options and less negotiating power. A slightly higher rate today may offer more flexibility, leverage, and control over the final deal. To understand what that means in practical terms, it helps to look at how mortgage rates have changed before, during, and after the pandemic, and how those shifts are shaping today’s market. # Pandemic-era mortgage interest rates reset expectations but didn’t last When COVID -19 hit, mortgage rates dropped quickly as part of an emergency economic response. The U.S. Federal Reserve cut interest rates to stimulate the economy, and [mortgage rates fell](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-a-mortgage-rate/). By early 2021, the average 30-year fixed mortgage rate fell below 3% for the first time on record, according to Freddie Mac. That milestone reshaped affordability and drove a surge in both buying and [refinancing](https://www.newamericanfunding.com/refinance/) from existing homeowners. But those conditions were temporary. That’s why homebuyers should treat pandemic-era rates as a historical low, not a benchmark for future decisions. # Waiting for lower mortgage rates could cost you For some homebuyers, it’s tempting to sit on the sidelines and wait for rates to fall. But that strategy assumes a return to conditions driven by extraordinary policy decisions rather than by normal market forces. Over the past year, many homebuyers who waited for lower rates found themselves in a holding pattern, as borrowing costs stayed relatively steady while home prices held firm. Even modest shifts in rates tend to bring homebuyers back into the market quickly. When that happens, competition increases, prices rise, and the negotiating room that exists today can narrow. Today’s market offers a different kind of advantage. Housing stock has improved. Homes are taking longer to sell. And homebuyers often have more room to negotiate price, request [closing cost credits](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/), or adjust terms that directly affect their bottom line. That’s why homebuyers should focus on what is in front of them. Today’s conditions offer more flexibility than those in the pandemic market, even if mortgage rates are not as low. # Before COVID, today’s rates would have looked reasonable https://preview.redd.it/bxhc2pvi2yxg1.png?width=1125&format=png&auto=webp&s=9d6dc7bc075f6d9b752a98b0da454ff44d1bf60a Not long ago, a rate in the 6% range would not have been considered quite so high. The average 30-year fixed mortgage rate spent much of the 2010s between roughly 3.5% and 5%, occasionally rising higher, according to Freddie Mac. In 2018, rates climbed to close to 5%. Zoom out further and the picture shifts even more. In the 1980s, mortgage rates were in the double digits, sometimes exceeding 15% and even hitting [18.63%](https://www.newamericanfunding.com/learning-center/housing-news/18-mortgage-rates-buying-a-home-used-to-be-even-more-challenging/) in the fall of 1981, according to [Freddie Mac data](https://www.freddiemac.com/pmms). Homebuyers still purchased homes by adjusting expectations and structuring deals around prevailing borrowing costs. That’s why homebuyers should reset their benchmark. Today’s rates fall within a range historically associated with steady housing activity. # Mortgage rates climbed to 8% and are now easing back down As inflation accelerated after the pandemic’s early years, mortgage rates rose. By late 2023, the average 30-year fixed rate approached 8%, according to Freddie Mac, marking the highest levels in more than 20 years. That rapid increase reset affordability almost overnight. Rates have since eased into the 6% range. “We’re not back to the best levels we were at, but we’ve recovered,” said [Anthony Ramirez](https://www.newamericanfunding.com/mortgage-loans/anthonyramirez), a loan consultant with New American Funding based in San Diego. That’s why it’s important for homebuyers to view today’s rates in context. They are lower than recent peaks and closer to long-term norms than they may appear. # Homebuyers can look for drops in mortgage rates A small shift in rates can still make a meaningful difference. On a $400,000 loan, reducing the interest rate from 7% to 6.3% lowers the monthly payment by nearly roughly $200. It doesn’t recreate the pandemic-era market, but it shows how incremental changes can improve affordability without requiring a return to historic lows. “With the uncertainty and volatility, clients should be working with their loan officer to get into a position to lock a good rate,” said Ramirez. Homebuyers should focus on the conditions in front of them and be ready to act when the right opportunity presents itself. *Anthony Ramirez NMLS # 249819* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/5m215i8fwqxg1.png?width=1600&format=png&auto=webp&s=644b2531068eb2378f2bbf08fad81cf56d216949 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 27, 2026 This year, the spring housing market is shaping up to be more competitive not just for homebuyers, but for sellers, too. After years of limited housing supply, more homes are entering the market in many areas this season. This gives buyers more options, making it harder for any single listing to stand out. That means home sellers can no longer rely solely on the traditionally [busiest time in the housing market](https://www.newamericanfunding.com/learning-center/housing-news/planning-to-sell-your-home-this-is-the-best-week-of-the-year-to-list-in-2025/) to land an offer. Selling with a strategy becomes essential. From pricing tactics to home presentation details, real estate professionals expect the sellers who do the best this spring are the ones who understand how buyers are thinking and remove as much friction as possible. Here’s how to get a jump on the competition. # Price your home to compete with other sellers The list price on a home is the single most important decision a seller makes. In today’s market, getting it wrong can cost you. “[Pricing your home](https://www.newamericanfunding.com/learning-center/homeowners/how-to-price-your-home-so-it-sells-quickly/) correctly matters most,” said [Nathan Garrett](https://garrettsrealty.com/agent/nathan-garrett/), broker and owner of Garretts Real Estate Group in Crestwood, Ky. “Overpricing in this market will likely backfire.” If a home is overpriced, it’s more likely to sit on the market. Buyers then begin to question what’s wrong with it. That often leads to price cuts. And while underpricing your home may lead to bidding wars and offers over asking, it may also result in you leaving money on the table. https://preview.redd.it/wiz35bmhwqxg1.png?width=1125&format=png&auto=webp&s=d55e81b4bb660d0bfd87855530aa509e92ba8eb1 # Watch your competition in the local housing market Many sellers focus on what nearby homes have sold for over the last few years. But that may not be the best guide in a quickly shifting market. That’s because buyers are comparing your home to what’s available right now, not what sold months ago. “The best tip I can give to sellers is to pay attention to the homes on the market,” said [Justin Chau](https://justinmchau.com/), a real estate professional in San Gabriel, Calif. “The active properties tell a better story.” “If all the other three-bed two-bath houses in your neighborhood are listed at $800,000, list your house for $750,000 to beat out the competition.”  # Fix what homebuyers will notice first Home sellers don’t always need a full renovation to boost their property’s appeal. But they do need to eliminate [red flags](https://www.newamericanfunding.com/learning-center/homebuyers/5-red-flags-youre-ignoring-when-buying-a-home/). Small, nagging issues can have an outsized impact on how buyers perceive a home and whether or not they put in an offer. Think sticky drawers, loose handles, broken doorbells, or missing hardware. These details can make buyers worry about bigger, unseen problems. The fix is often simple and relatively inexpensive. “When a home has any of these types of little items that are broken, it gives buyers the impression of ‘deferred maintenance,’” said [Ryan Fitzgerald](https://raleighrealty.com/agents/ryan-fitzgerald), owner of Raleigh Realty, in Raleigh, N.C. Buyers may begin to question if there are other larger problems with the home. Fitzgerald recommended spending a few hundred dollars before listing to address these issues, calling it “the highest return on investment for any type of sale.” https://preview.redd.it/civt9gijwqxg1.png?width=1125&format=png&auto=webp&s=2c59a331b99b72d4326e99bbd45871f3e7ebf468 # Make the home you’re selling feel bigger Presentation still matters and not just in listing photos. So, sellers should go beyond basic tidying and think about how their home feels to a buyer walking through it. “Consider removing some furniture to make rooms feel noticeably bigger,” said Garrett. That same principle applies to storage. “Removing 30% to 50% from the closets will give the perception that storage may not be an issue,” he added. Sellers should also get rid of clutter, which can make a home appear smaller. A deep clean can also make a difference. Hiring a professional cleaning service before listing helps ensure the home shows at its best. Meanwhile, small exterior upgrades, like [fresh landscaping](https://www.newamericanfunding.com/learning-center/homeowners/5-ways-homeowners-can-make-their-lawns-look-great-on-a-budget/) or well-placed lighting, can boost curb appeal. # Use home selling incentives strategically In a more mortgage rate-sensitive market, home sellers may need to think beyond price cuts to win over buyers. “A targeted [rate buydown](https://www.newamericanfunding.com/learning-center/homebuyers/hoping-to-save-money-during-the-first-years-of-your-mortgage-an-adjustable-rate-mortgage-or-buydown-loan-may-be-right-for-you/) or closing cost credit \[may\] help move the needle more than a $5,000 price cut can,” said [John Harbuck](https://serhant.com/agents/john-harbuck), a real estate sales associate at Serhant in Orlando, Fla. That’s because these incentives directly focus on what buyers care about most right now: monthly payments and upfront costs. Sellers are increasingly offering options such as 2-1 rate buydowns, [closing cost credits,](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/) or even covering repairs or home warranties to reduce perceived risk. For example, a [2-1 buydown](https://www.newamericanfunding.com/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands/) lowers the buyer’s mortgage rate by two percentage points in the first year of the loan, by one percentage point in the second year. Then the rate adjusts to what the buyers locked in when they closed for the remainder of the loan.  But how those incentives are presented matters. “Don’t lead with the incentives in the headline,” said Harbuck. “Lead with value and presentation and then use the incentives as a tie breaker.” # Sell the story, not just the specs of the home Common home listing descriptions can cause a property to blend in. But more specific, targeted messaging can make it memorable. “Replacing generic ‘beautiful three-bed home in a great neighborhood’ with a specific hook can help define who the house is for,” said Harbuck. Instead of broad language, sellers should highlight concrete lifestyle benefits such as: “Walk the kids to XYZ Elementary School in under five minutes or skip the I-4 commute to downtown,” he said. The goal is to give buyers something tangible to connect with that stands out as they look at multiple properties. “Buyers remember specifics, not adjectives,” added Harbuck. # Remove friction for homebuyers In a more balanced market, convenience can be a deciding factor. Buyers are more likely to pursue homes that are easy to see, easy to understand, and easy to feel confident about. “Be absolutely obsessive about getting your property shown,” said Fitzgerald. That means keeping the home show-ready for long hours and accommodating last-minute requests whenever possible. Listings with limited access tend to sit on the market longer because fewer buyers can see them. Some sellers are even making temporary lifestyle adjustments to keep their homes accessible. Fitzgerald recalls clients who placed their dog in daycare during the listing period to avoid disruptions. They received an offer within days. He also suggested going a step further by providing a pre-inspection report. “This will show the buyers that you don’t have anything to hide and eliminate a [contingency](https://www.newamericanfunding.com/learning-center/homebuyers/what-contingencies-you-should-consider-when-buying-a-home/),” said Fitzgerald. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/agexkpx4p5xg1.png?width=1600&format=png&auto=webp&s=be07b675b002957625e8c4f816acaf63bed7124a By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 24, 2026 Every spring, the housing market gains momentum. New home listings appear, and [homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/) who held back over winter start looking at properties again. This year, some of that activity is happening earlier than usual, before many homes are officially for sale. An increasing number of properties are now listed as “coming soon,” giving buyers a sneak peek of homes before they officially hit the market. That early access is beginning to change how buyers prepare and how sellers introduce homes to the market. Buyers can see what will soon be available, giving them time to figure out their budgets and [get preapproved for a mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/a-competitive-edge-why-you-need-a-pre-approval-letter-in-a-hot-housing-market/). Meanwhile, sellers have a chance to start generating buzz around their properties or make changes before it goes onto the market. Here’s what buyers and sellers need to know. # What are “coming soon” home listings? Pre-market home listings, when homes are advertised before officially going up for sale, are not a new idea. About 80% of multiple listing services (MLS) already have a “coming soon” category. And real estate agents have long shared homes through private networks. What’s changing is who can see them. Zillow’s new feature, Zillow Preview, is designed to highlight homes before they become active listings. Buyers can browse these properties, save them, and plan their next steps. But they cannot tour or submit offers until the home goes live. This pre-market feature is expanding quickly. About 30 brokerages have joined so far, while others are creating their own pipelines. For example, eXp is sharing listings across Realtor.com, Homes.com, and ComeHome.com. The result is a wider, though fragmented, pool of homes just outside the traditional market. For example, pre-market listings have existed for many years through pocket listings and private networks. This shift increases transparency in what has traditionally been done behind the scenes. # Homebuyers see homes earlier, but access is through real estate agents https://preview.redd.it/0el6huy8p5xg1.png?width=1125&format=png&auto=webp&s=b2d6663690377c98841219d2b59458428a32e417 Pre-market listings increase the number of properties homebuyers can view, but not all that information is shared equally. Often, details still pass through real estate agents who have access to the MLS or brokerage networks. “These listings won’t be accessible to the public, so most property info will come through agents with MLS access,” said [Ryan Dossey](https://soldfast.com/), co-founder of SoldFast, which serves 18 states. That dynamic emphasizes the importance of who you work with. Buyers connected to certain real estate agents might learn about properties earlier or get a better view of homes that aren’t fully listed yet. At the same time, larger real estate platforms are starting to reveal more of these listings than before. # Seeing home listings early may help buyers prepare The main benefit for homebuyers isn’t access to hidden deals. It’s time. “Earlier visibility is the biggest benefit for buyers,” said [Ben Mizes](https://www.linkedin.com/in/benmizes/) of Clever Real Estate in St. Louis. “Buyers can save the listing, reach out to their agent, get financing, and be ready to act once showings begin.” That preparation is becoming increasingly important in a market where supply stays tight. Buyers who get organized early are in a stronger position when a home officially hits the market. Still, this is not a shortcut around competition. “Buyers should not view ‘coming soon’ as a competitive edge,” said Mizes. “The greatest benefit is planning, not the pre-market listings.” # Pre-market home listings may help buyers sidestep bidding wars In some cases, buyers may be able to engage before a listing turns into a full competition. “It could help some buyers connect with sellers before a property falls into a bidding war,” said Dossey. “If you come forward with a good offer, you can avoid that circus.” That kind of timing can simplify the process, but it isn’t always the most affordable option. “You might end up paying more, however, than if the property sat on the market and didn’t sell, forcing a price drop,” said Dossey. # Home sellers can test pricing before going live For [sellers](https://www.newamericanfunding.com/learning-center/homeowners/), “coming soon” listings provide a gentler way to enter the market. “They can create anticipation before their home is active,” said Mizes. “They can shift interest, test price positioning, and attract serious buyers before they finish photos, repairs, and staging.” That flexibility allows sellers to refine their approach before the home officially hits the market. It also opens the door to skipping some upfront repair and preparation costs if early interest is strong enough. Dossey notes that this phase can be especially useful for homes in transition. “Homes in the middle of renovations are being positioned as a good fit for this service,” he said. # Mortgage readiness matters more than ever https://preview.redd.it/12aj7p8bp5xg1.png?width=1125&format=png&auto=webp&s=170adf3135c3ad2b107f98dd6e6993db66ede6a0 Since the buying process begins earlier, securing financing must also start sooner. Buyers who delay getting a [mortgage preapproval letter](https://www.newamericanfunding.com/learning-center/homebuyers/how-long-does-mortgage-pre-approval-take/) until a home is officially listed may already be at a disadvantage. That is where preparation becomes the key. “The greatest benefit of ‘coming soon’ listings is not finding hidden deals, it is being ready to act first,” said Mizes. Getting [preapproved](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage/), understanding your budget, and staying in close contact with your real estate agent all rise higher on the priority list. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/5t3ysurr9zwg1.png?width=1600&format=png&auto=webp&s=410616c21c547319167e31163d31424ca5c39ac9 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) April 23, 2026 [Mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) continued to fall as the spring housing market heats up. Rates declined to an average of 6.23% for 30-year, fixed-rate loans in the week ending April 23, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That was down from 6.3% in the previous week. And it was more than half a percentage point lower than this time last year, when rates averaged 6.81%. “Rates currently stand at their lowest level in the last three spring homebuying seasons,” said Freddie Mac Chief Economist Sam Khater in a statement. “This improvement, coupled with a pickup in purchase applications and refinance activity, as well as an increase in monthly pending home sales, underscores signs of improving momentum in the market,” Khater added. Even small reductions in rates can equal big savings, leading to lower monthly mortgage payments for those who [buy a home](https://www.newamericanfunding.com/buy-a-home/) or [refinance their existing mortgage](https://www.newamericanfunding.com/refinance/). Someone who purchased a typical home with a 6.23% rate would save $127 a month compared to buying the same home with a 6.81% rate. That adds up to more than $1,500 a year and nearly $46,000 over the life of a 30-year, fixed-rate loan. (This assumes they purchased a $415,450 home, the median home list price in March according to [Realtor.com](https://www.realtor.com/research), with 20% down. It does not include property taxes, insurance, or homeowner association costs.)   Mortgage applications to purchase a home increased 14% year-over-year in the week ending April 17, according to the [Mortgage Bankers Association](https://www.mba.org/news-and-research/research-and-economics/single-family-research/weekly-applications-survey) (MBA). Refinance applications were up 52% compared to the same time last year. Both seemingly signify how aware homebuyers and homeowners are of rate declines. “Mortgage rates declined last week as financial markets responded positively to the Middle East ceasefire and the lower trend in oil prices,” said MBA Chief Economist Mike Fratantoni in a statement. “Despite the geopolitical uncertainty, housing demand is being supported by a still resilient job market, and homebuyers are experiencing a buyer’s market in most of the country given the higher levels of \[housing\] inventory relative to last year,” he said. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/dt3f4pxcgywg1.png?width=1600&format=png&auto=webp&s=64937e8fe71ba1c2643c501ad59642d15159a2f2 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 23, 2026 The [spring housing market](https://www.newamericanfunding.com/learning-center/homebuyers/how-successful-homebuyers-are-approaching-todays-spring-housing-market/) has arrived. Open houses are drawing crowds again. Listings are stacking up, giving shoppers more properties to choose from than they’ve seen in recent seasons. And in some places, that added housing supply is starting to tip the balance in favor of homebuyers. A new [analysis](https://www.realtor.com/research/market-clock-report-2026q1) from [Realtor.com](http://Realtor.com) finds that eight of the 50 largest U.S. housing markets now qualify as buyer’s markets, with several more moving in that direction. At the national level, housing is not fully a buyer’s market. Yet [Realtor.com](http://Realtor.com) places the U.S. in a “balanced-loosening” phase, meaning conditions are moving in that direction but not all the way there. “A national picture is useful,” said Danielle Hale, chief economist at [Realtor.com](http://Realtor.com), in a statement. “But when making a real estate decision, the local details are what really matter.” Here’s what that means and where buyers are starting to gain the upper hand. # What is a buyer’s market? A buyer’s market is generally characterized by more than six months of homes for sale, giving buyers plenty of options. This indicates there are enough homes listed relative to demand, giving buyers more [negotiating power.](https://www.newamericanfunding.com/learning-center/homebuyers/more-home-sellers-are-offering-concessions.-this-is-how-homebuyers-can-save-big) As leverage shifts from sellers to buyers when housing stock increases, homes also stay on the market longer. That makes [price cuts](https://www.newamericanfunding.com/learning-center/homebuyers/home-price-cuts-how-to-find-properties-with-price-cuts-and-negotiate-an-even-better-deal/) and sellers willing to chip in on repairs or [help buyers with closing costs](https://www.newamericanfunding.com/learning-center/homebuyers/more-home-sellers-are-offering-concessions.-this-is-how-homebuyers-can-save-big) more common.  At a local level, some metros are already giving buyers a clearer edge. That gap is likely to widen as the year progresses. # Why this spring’s housing market looks different After years of limited housing stock and fierce competition, more homes are finally hitting the spring housing market and creating more buyer-friendly conditions. That increase is especially evident in the South and parts of the West. This is where new construction and population growth have expanded the housing supply more rapidly. At the same time, affordability constraints are preventing some buyers from participating, which further reduces competition. # What homebuyers can do in a buyer’s market Even in a buyer’s market, strategy still matters. More homes for sale does not mean every listing is a good deal. Well-priced properties can still attract strong interest, especially in desirable neighborhoods. That said, buyers now have tools they have not had in years. They can negotiate on price, ask for repairs, and take more time to evaluate options. “Whether you’re a [first-time buyer](https://www.newamericanfunding.com/learning-center/homebuyers/buying-a-home-this-spring-heres-how-to-succeed-in-a-competitive-housing-market/) trying to figure out how aggressive your offer needs to be, or a seller wondering whether to hold firm on price,” knowing whether you are in a buyers’ or sellers’ market will help your homebuying decision, said Jake Krimmel, senior economist at [Realtor.com](http://Realtor.com), in a statement. The key for buyers is to set a budget, watch for [price reductions](https://www.newamericanfunding.com/learning-center/homebuyers/home-price-cuts-how-to-find-properties-with-price-cuts-and-negotiate-an-even-better-deal/), and be ready to act when the right opportunity arises. # Why home sellers in buyer’s markets may need to adjust their expectations For sellers in these buyer-friendly markets, the shift requires resetting expectations. Pricing needs to be more precise from the start. Homes priced too high tend to sit on the market longer, and price cuts are becoming more common. [Well-staged](https://www.newamericanfunding.com/learning-center/homeowners/planning-to-sell-your-home-this-year-make-these-smart-preparations-now/), well-marketed homes still stand out. But the era of testing a high price and waiting for quick offers is fading in these markets. Sellers who understand this and [price accordingly](https://www.newamericanfunding.com/learning-center/homeowners/how-to-price-your-home-so-it-sells-quickly/) continue to find success. # 8 housing markets where homebuyers have an edge right now https://preview.redd.it/ts1v8deagywg1.png?width=1125&format=png&auto=webp&s=3942cf4f1ce1845103220d6ea2ab908c347c3e5e All eight of the nation’s current buyer’s markets are in the South and West, with a notable focus on Florida and Texas.  Each of these metropolitan areas is considered an “early buyer” market, according to Realtor.com. This means that conditions are already shifting in favor of buyers and are likely to become even more advantageous in the coming months. **1. Atlanta** A steady flow of homes is giving buyers more options across price points, particularly in suburban areas where new construction has expanded the housing supply. **2. Austin, Texas** One of the pandemic’s biggest boomtowns is now experiencing a reset. More listings and price adjustments are giving buyers a second chance to enter a market that once felt out of reach. **3. Jacksonville, Fla.** Rising housing stock combined with more moderate demand is easing competition, especially for mid-priced homes. **4. Miami** Luxury and second-home markets are cooling slightly, creating more negotiating room for buyers willing to act. **5. Nashville, Tenn.** Housing stock gains are outpacing demand, slowing sales and giving buyers more leverage. **6. Orlando, Fla.** A surge in home listings is giving buyers more choice, particularly in newer developments and suburban communities. **7. Tampa, Fla.** After years of stiff competition, more homes are staying on the market longer, creating opportunities for negotiation. **8. Riverside, Calif.** One of the few Western markets tipping toward homebuyers, with affordability pressures cooling demand and allowing inventory to build. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Looking for honest feedback from current/former LOs at New American Funding. I was offered a Senior Loan Officer / Senior Loan Consultant role with a **$42,000 signing bonus** tied to a **3-year commitment**. They also said I could set comp up to **150 bps**, but higher comp would affect pricing. Trying to get real-world insight beyond recruiter talk. My background: 5+ years retail mortgage experience Mortgage Bankers Association AMP (Accredited Mortgage Professional) designation Bilingual English/Spanish Market where there are very few Spanish-speaking LOs My recent path: Previously at a credit union where roughly **85% branch leads / 15% self-sourced** Moved to Fifth Third Bank as a CRA Loan Officer about 6 months ago Was told there would be branch lead opportunities, but most production has become self-sourced Since starting in November, steady but building pipeline I’m now evaluating whether it makes sense to move to a **full commission model** with the signing bonus acting as a cushion for the first several months. Questions for anyone who has worked at NAF: Are rates/pricing competitive once comp is set? How realistic is it to win deals consistently there? Are ops/processors/underwriting solid or a headache? How much support is there for self-gen LOs? Is the 3-year commitment worth the bonus, or is it golden handcuffs? If you had my background, would you stay put or make the jump? Looking for blunt honesty, the good, bad, and ugly.

https://preview.redd.it/v7bqtl9carwg1.png?width=1600&format=png&auto=webp&s=66eaaa9a0712c1c2ee5b0fb075b4438e009326b6 By [Tim Maxwell](https://www.newamericanfunding.com/learning-center/authors/tim-maxwell/) April 22, 2026 Coming up with a [down payment](https://www.newamericanfunding.com/learning-center/homebuyers/saving-for-a-down-payment-is-getting-easierand-help-is-available/) for a home has traditionally been one of the biggest obstacles for first-time homebuyers. That’s why some buyers are tapping into their 401(k) accounts.  The typical first-time homebuyer put down a median 10% down payment in 2025, the highest since 1989, according to the [National Association of Realtors (NAR)](https://www.nar.realtor/newsroom/first-time-home-buyer-share-falls-to-historic-low-of-21-median-age-rises-to-40). As the typical home was listed for $415,450 in March, according to [Realtor.com](https://www.realtor.com/research), that adds up to $41,545 plus closing costs. If saving enough for a down payment is challenging, tapping into your retirement savings may look like an attractive option. And for many, borrowing from themselves is. NAR data shows 26% of first-time buyers used financial assets like 401(k)s, IRAs, or stocks to fund their down payment. “It is great for those clients who have saved mostly in 401(k)s, with little outside resources for that down payment,” said investment advisor representative Catherine Valega, founder of [Green Bee Advisory](https://www.greenbeeadvisory.com/) outside of Boston. While borrowing from your 401(k) can help you come up with a down payment, there are things you should consider first. Here’s what to know before tapping into your retirement funds to buy a home. # The rules of borrowing from your 401(k) to buy a home The good news is most buyers can borrow from their 401(k) plans. About 84% of 401(k) participants are in plans that allow borrowing from an employer-sponsored 401(k), according to the [Employee Benefit Research Institute (EBRI)](https://www.ebri.org/content/401(k)-plan-asset-allocation--account-balances--and-loan-activity-in-2022). If your plan allows it, you may be able to borrow up to $50,000 or 50% of your vested balance, whichever is less, according to the [IRS](https://www.irs.gov/retirement-plans/plan-participant-employee/401k-resource-guide-plan-participants-general-distribution-rules). You may be able to [borrow enough from your plan](https://www.newamericanfunding.com/blog/acceptable-down-payment-sources-mortgage/) to help you make the down payment. But you need to understand you must pay that money back to your 401(k). Under IRS rules, you must repay 401(k) loans within five years. However, loans used to purchase a primary residence may be repaid over a longer period. Typically, you’ll repay through a monthly or quarterly automatic payroll deduction until the loan is fully paid off. # Advantages of taking out a 401(k) loan to buy a home https://preview.redd.it/0hfuez67arwg1.png?width=1125&format=png&auto=webp&s=a5cea6ab5678ae7cf87ae16aa93e511fc7469a59 Despite the risks, there are situations where borrowing from a 401(k) may be worth it. Some of the advantages include: * No credit check and no impact on your credit score * The interest you pay goes back into your own account * The loan may help you put 20% down. This may help you avoid [private mortgage insurance (PMI)](https://www.newamericanfunding.com/learning-center/homeowners/still-paying-pmi-you-may-be-able-to-deduct-your-mortgage-insurance-from-your-taxes-next-year/), which may save you thousands of dollars a year * Any loss in investment growth could potentially be offset by gains if your property rises in value Using your 401(k) to cover a down payment and closing costs on a home may be best for younger buyers. If retirement is decades ahead, you may have enough time to replenish your retirement funds before you need them. # You could lose out on investment gains by borrowing from your 401(k) However, there are downsides to using your 401(k) to buy a home, including losing out on stock market gains. “The biggest problem is that when one takes a loan from a 401(k), even if it is repaid, the money doesn’t get the chance to compound,” said Robert Johnson, PhD, CFA and professor of finance at Creighton University’s Heider College of Business in Omaha, Neb. That’s the opportunity cost of borrowing from your 401(k). Every dollar you borrow is no longer growing. And even after you repay the loan, you can’t get back the years of compounding you missed while that money was out of the market. Even worse, some plans also restrict contributions while a loan is outstanding. That means you may not be able to put new money into your 401(k) until the loan is fully repaid. In that scenario, you would not only lose out on the growth on the borrowed amount, but also miss new contributions that could have been compounding at the same time. # What happens if you leave your job after you’ve borrowed from your 401(k) https://preview.redd.it/tqmav449arwg1.png?width=1125&format=png&auto=webp&s=e857bfa9f97f89d0fdc7353c679a918005d5a861 This may be the most financially painful risk of borrowing from your 401(k). If you leave or lose your job with an outstanding loan, some plans require you to repay the loan within a short window. This could be in as little as 60 to 90 days. Check your plan’s details to confirm when you’re required to pay. If you can’t repay the 401(k) loan in full by the deadline, the due amount may need to be repaid from your account balance. So, if you still owe $10,000 on your loan but your account has a $60,000 balance, the loan debt may be deducted, according to [Experian](https://www.experian.com/blogs/ask-experian/what-happens-to-401k-loan-if-you-change-jobs/). That would leave $50,000 in your retirement account. # Tax considerations if you don’t repay your 401(k) loan by the deadline If you can’t repay your loan from your 401(k) within its term, the outstanding balance may be treated as a taxable distribution. For borrowers under 59½, that could mean owing income tax plus a 10% early withdrawal penalty. First-time homebuyers using a 401(k) for a down payment should know that the I.R.S. does allow a [penalty-free withdrawal](https://www.newamericanfunding.com/learning-center/homebuyers/can-you-take-an-ira-withdrawal-to-pay-for-a-home/) of up to $10,000 from an IRA for a home purchase. Unfortunately, that exception doesn’t apply to 401(k) plans. # Bottom line on borrowing from your 401(k) Since tapping your retirement savings to cover a down payment could cost you in the long run, it may be wise to consider mortgages with more flexible down payment options. These include [government-backed loans](https://www.newamericanfunding.com/learning-center/homebuyers/what-are-government-insured-mortgages/), such as [U.S. Department of Veterans Affairs (VA) loans](https://www.newamericanfunding.com/loan-types/va-loan/) for veterans and members of the military, and  [U.S. Department of Agriculture (USDA) loans](https://www.newamericanfunding.com/loan-types/usda-loan/) for those buying outside of cities. These loans don’t require down payments. Homebuyers may also want to look into [Federal Housing Administration (FHA) loans](https://www.newamericanfunding.com/loan-types/fha-loan/), which require down payments as low as 3.5%. Additionally, buyers may be eligible for local, state, or other down [payment assistance programs](https://www.newamericanfunding.com/learning-center/videos/how-to-get-free-money-to-purchase-a-home/). These programs may help buyers cover their down payments and closing costs through low-interest loans and grants.   [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/dtvvfntk2kwg1.png?width=1600&format=png&auto=webp&s=f79a5d6339ad1fe1ea7b3399497bcd2b40674607 By [Timothy Moore](https://www.newamericanfunding.com/learning-center/authors/timothy-moore/) April 21, 2026 Being your own boss offers flexibility and independence, but it can also make getting a mortgage much more complicated. If you’re self-employed, a freelancer, a gig worker, or a small business owner, you may not have the traditional income documentation lenders typically require. Through strategic tax deductions (business write-offs), your income may even appear too low to qualify for a mortgage. That’s where [bank statement loans](https://www.newamericanfunding.com/loan-types/non-qm-loan/bank-statement-loan/) come in. “I have worked with several self-employed buyers in South Florida who earned a good income,” said Realtor Alexei Morgado, founder and CEO of [Lexawise](https://www.lexawise.com/), a real estate exam prep company. “\[But\] their tax returns showed very low net income after deductions.” “For them, loans based on bank statements were the most realistic option,” he said. Below, we’ll look at what bank statements are and who they’re for, review their eligibility requirements, and consider some of the risks involved. # What is a bank statement loan? A bank statement loan is a type of mortgage that primarily relies on one to two years of bank statements to determine your eligibility for a mortgage. The statements are used instead of income documentation such as pay stubs, W-2s, or tax returns. Bank statement loans are a type of [non-qualified mortgage](https://www.newamericanfunding.com/loan-types/non-qm-loan/), meaning they don’t have the same standard protections as qualified mortgages. Qualified mortgages typically offer lower mortgage rates, according to the [Consumer Financial Protection Bureau (CFPB)](https://www.consumerfinance.gov/ask-cfpb/what-is-a-qualified-mortgage-en-1789/). They also can’t include risky loan features, such as negative amortization (when your payment doesn’t cover all the interest due) and balloon payments (a large, lump sum that comes due.) It should be noted that most non-QM loans today, including those that use bank statements to qualify, do not include these risky features due to federal and state lending rules. Many Conventional loans and [government-backed loans](https://www.newamericanfunding.com/learning-center/homebuyers/what-are-government-insured-mortgages/) are qualified. # Bank statement loans for self-employed borrowers https://preview.redd.it/uy38ubrn2kwg1.png?width=1125&format=png&auto=webp&s=37d58ed94bfb91787b59d1306fea7f6c19056754 A key provision of qualified mortgages is that the lender must “make a good-faith effort” to ensure you can repay the loan. Since that involves verifying stable income via pay stubs and tax returns, that may make it challenging for entrepreneurs, freelancers, and other self-employed individuals to qualify. Instead, these borrowers may turn to bank statement loans to get approved. These and other non-QM loans are growing increasingly popular in recent years, according to mortgage technology provider [Optimal Blue](https://www.scotsmanguide.com/news/non-qm-momentum-cools-in-january-though-bank-statement-volumes-strengthen/). They doubled in volume from 2023 to 2025. That’s not surprising given the quickly rising rate of self-employment. Full-time self-employment reached its highest level in 2025, per the [Small Business & Entrepreneurship Council](https://sbecouncil.org/2026/01/15/fulltime-self-employment-reaches-highest-level-on-record-in-2025/). As a result, more borrowers are turning to bank statement loans to make homeownership a reality. # Bank statement loan requirements Although bank statement loans allow you to get approved for a mortgage without a W-2 or pay stubs, you will have to meet some other strict [mortgage requirements](https://www.newamericanfunding.com/learning-center/homebuyers/7-documents-you-need-when-applying-for-a-home-loan/): # Financial statements and business documentation for bank statement loans As you’d imagine, you need to provide bank statements from the past one or two years (varies by lender). Those bank statements need to reflect steady deposits from your business, such as client payments or business dividends. Ideally, the bank statements should demonstrate that you take in more money than you spend. You may also need to supply other business documentation, such as your business license, profit & loss statements, and tax documents. “There are so many flexible ways to qualify a self-employed borrower,” said [Daniel Arias](https://www.newamericanfunding.com/mortgage-loans/danielarias), a New American Funding branch manager based in Pasadena, Calif. “Depending on how the client is billing and receiving their income, we can look at either 12 to 24 months of business bank statements or review a one-year profit & loss statement.” # Credit score required for a bank statement loan Requirements will vary by lender, but many require a minimum 620 credit score for a bank statement loan. “As is with all mortgage loan programs, maintaining a healthy credit history ensures we can offer the best interest rate possible,” advised Aria. # Down payment and cash reserves for a bank statement loan To reduce risk for the lender, they typically require a larger [down payment](https://www.newamericanfunding.com/learning-center/homebuyers/down-payments-what-you-should-know/) than you would need for qualified mortgages. Expect to put between 20% and 30% down. In addition to money for the down payment, lenders may want to see adequate cash reserves. That should be enough money to cover the mortgage for several months. # Loan-to-value (LTV) ratio for a bank statement loan LTV requirements are also stricter with bank statement loans. Lenders typically cap this at 75% to 80%. (This is the loan amount divided by the property’s value.) # Debt-to-income (DTI) ratio for a bank statement loan While it varies by lender, many cap the DTI ratio at 43%. This looks at your debt compared to your income. “Consistency is what determines the success or failure of the application in these cases. A few months of low income or large, unexplained income can quickly reduce the income considered for loan approval,” said Morgado. “The clearest approvals I’ve seen have come from self-employed individuals who maintained a dedicated business account and a documented record that matched their history,” he said. # Potential risks of bank statement loans https://preview.redd.it/rhvxlzmp2kwg1.png?width=1125&format=png&auto=webp&s=2fd5c0b5223f3d29debed2c05705ad1fe13223fe Our perception of job security has changed in recent years, with more Americans trading traditional employment for [self-employment](https://www.newamericanfunding.com/learning-center/homebuyers/forget-the-myths-youve-heard.-if-youre-self-employed-you-may-still-be-able-to-buy-a-home) amid the growing threat of layoffs. However, the mortgage system still views traditional W-2 employment as more stable than self-employment, even if you run a successful small business and make good money. This reality limits your [mortgage options](https://www.newamericanfunding.com/loan-types/) when you’re self-employed. While bank statement loans make homeownership possible for entrepreneurs and business owners, they have some downsides to keep in mind: * **Higher interest rates:** [Mortgage rates](https://www.newamericanfunding.com/mortgage-rates/) for non-QM loans are typically half a percentage point to two percentage points higher than traditional mortgage rates. This increases the cost of borrowing. * **Potentially longer loan terms:** Some bank statement loans may last longer than 30 years. This can further increase costs in the long term. * **More cash needed:** You may need to spend more of your savings on your down payment. This exposes you to risk if emergencies arise soon after you buy the home and your cash reserves are more limited than you’d like. * **Read the fine print:** Some non-QM loans may include stipulations that are different from traditional mortgages. That’s why it’s important to fully understand your payment structure before taking out one of these loans. *Daniel Arias NMLS #461805* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/vk8nfvvd2kwg1.png?width=1600&format=png&auto=webp&s=485d5ae170d8fad741b18981baf8e6db45715973 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) April 21, 2026 Most homeowners with mortgages didn’t realize all the different ways they could save money when purchasing a home before they started the homebuying process. About a fifth of homeowners wished they knew about down payment assistance at the start of their home search, according to a [survey from New American Funding](https://www.newamericanfunding.com/media/85-percent-of-homeowners-wish-theyd-known-these-money-saving-secrets/?utm_source=PRNewswire&utm_medium=consumersurvey&utm_content=pressrelease&utm_campaign=Apr21&utm_term=default). These grants and low- or no-interest loans may be used to help homebuyers with their down payments and closing costs. Another 13% of homeowners didn’t realize they could put less than 20% down on the sale price of a home. Roughly 10.6% of homeowners would have preferred to know they could negotiate with sellers. Meanwhile, 9.9% would have liked to have understood the minimum credit score required to qualify for a mortgage as they began their home searches. “In today’s housing market, buyers should take advantage of money-saving opportunities,” said New American Funding President Christy Bunce in a statement. “Down payment assistance programs, negotiating with sellers, and loans that allow lower down payments are powerful tools that can make the difference between waiting on the sidelines and securing your home.” The national survey is based on 1,056 responses received from homeowners whose loans are serviced by New American Funding. The survey was conducted in November and December of 2025. # How much did owners put down on their home purchases? Despite the common myth that homebuyers must contribute 20% of the sale price of the home, most homeowners surveyed, 72.6%, put down less than 10%. Roughly 59.6% of Generation Z homebuyers and 44.8% of millennials only kicked in 3.5% or less, according to the survey. These buyers may have used a [Conventional loan](https://www.newamericanfunding.com/loan-types/conventional-loan/), which offers a down payment as low as 3% in certain circumstances, or a [Federal Housing Administration](https://www.newamericanfunding.com/loan-types/fha-loan/) (FHA) loan, which may require a down payment of only 3.5%. These two loans are among the most popular because of their low down payment requirements. Many buyers reported not putting down anything at all. About 18.1% of Baby Boomers, 15.5% of Generation X, 10.1% of Generation Z, and 9.9% of millennials didn’t make a down payment. They may have used a [U.S. Department of Veterans Affairs (VA) loan](https://www.newamericanfunding.com/loan-types/va-loan/) or a [U.S. Department of Agriculture (USDA) loan](https://www.newamericanfunding.com/loan-types/usda-loan/), which don’t require down payments. Or they could have received down payment assistance or help from family and friends to cover the expense. There were regional differences as well. The South had the highest percentage of buyers who reported not making a down payment, at 17.7%. That was more than double the percentage in the pricier Northeast, 7.4%. About 9.7% of homeowners in the Midwest and 13.4% in the West also didn’t put anything down. # Many buyers underestimated homeownership costs, but would still buy the same home again Homeownership costs were more expensive than many homebuyers realized. But that wouldn’t stop the majority from purchasing the same home again. More than a third of homeowners, 37.2%, reported maintenance and repairs were more than they expected. The same was true for property taxes, 25.4%, and gas and electricity bills, 22.3%. Yet despite the costs, nearly three-quarters of homeowners would still buy the same home. And many don’t expect to eventually sell their properties. Baby Boomers, 38.1%, were most likely to say they planned to stay in their homes forever, followed by Generation X, at 31.6%. Younger homeowners were more likely to anticipate moving in the future. Just 18.5% of millennials and 11% of Generation Z plan to stay put. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/o891ub6w9dwg1.png?width=1600&format=png&auto=webp&s=13b578839d1a0ac009932d53f9cc26d28f424eb5 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 20, 2026 Baby Boomers aren’t giving up their grip on the housing market. The generation made up the largest share of homebuyers. Meanwhile first-time buyers, long seen as the lifeblood of the market, fell to a record low, according to the [2026 Home Buyers and Sellers Generational Trends report](https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Flink.mediaoutreach.meltwater.com%2Fls%2Fclick%3Fupn%3Du001.uRyDydJ5nn2rliU5OZ3x2VRt2ToI8bQ-2FcK6DXop6RhgshvEgeT65R657cdwKjzmPrsui7odYjEAaZXcnNtU0tsQVXFCxa35CHOi8TaIxHk9p1Xms6gEXwcgXvq8meg8HsmKUnexzx4kdM18nambnC7D3wGaOQOCCNm7gh375b3o-3DMVga_ZgXfzkUpABoVeTxbAMUvsQ5RdMPNgNUThFJDXQlMeyX2SxwXHIuH6d5fK-2B-2FZZ1szaiu-2B55KsH4CX-2FP-2BY0-2FXv8hPl-2FAQ4UJxQDYb5D84DfoZR4O5s2nj4Ppx1jiwEi0QjuAuKN5s0olsz8Uyb7a-2Bc88qV9UiaF7R7dilZwXYbO-2FeLidNwp9B5mnYZi-2BNk5BZpf7L8WfwMd4R9BODqdkfPz9oZMC-2BHSPTcUIyuNIGgMFquHa9j9Y94gOLDjD5R5Wad-2BntlOovcD4F62j-2BgPpFf5xvomRKwbTbRkQXORopojWacn1SOzgY2t7uYVff4F3ngKggvrENufwQ7HVI1X0sFzf-2BhuOGi2tL2Mp-2Flrwk5TILqJQZjKV06joxlAz725FED&data=05%7C02%7CMargaret.Heidenry%40Nafinc.com%7C3ccfdb97697e4e115b0708de9b2863a7%7C04986fa26d2846f7966ab1ac32f74fa8%7C1%7C0%7C639118794928402876%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=AkWCu%2BQe2jOlpowB4Dd2wqrzP8%2Bi7WqvEoa9Swe6o%2BE%3D&reserved=0) for the National Association of Realtors (NAR). The report is based on a survey sent out to more than 6,100 buyers who purchased a primary home between July 2024 and June 2025. Just 21% of buyers purchased their first home, down from 24% from last year’s report and marking the lowest share since NAR began tracking the data in 1981. That shift underscores a growing gap in today’s housing market. “The housing market remains sharply divided between homeowners with equity and first-time buyers trying to break in, many of whom are younger millennials,” said Jessica Lautz, deputy chief economist at NAR in a statement. # Baby boomers are still calling the shots in the housing market Baby Boomers made up 42% of all homebuyers in the NAR report’s timeframe, far outpacing younger generations. Millennials, once the dominant force, slipped to 26% of buyers, down from 29% from the previous period. Gen X held relatively steady year-over-year at 25%, while Gen Z and the Silent Generation each accounted for just 4% of buyers. The reason why Boomers continue to lead in market share is straightforward: The generation, born between 1946 and 1955, often have greater financial stability. “Baby Boomers are at a point in life when they have the flexibility to move, often with housing equity to help purchase their next home,” said Lautz. That equity gives them a major edge, especially in a market where overall affordability remains tight. # First-time homebuyers are getting squeezed out of the housing market The drop in first-time buyers is one of the clearest signs of how challenging it has become to enter the housing market. Younger millennials, born between 1990 and 1996, traditionally the largest group of first-time buyers, are feeling the pressure the most. About 60% were first-time buyers this year, down sharply from 71% last year. Older millennials, born between 1981 and 1988, are also shifting away from first-time purchases. Just 33% bought their first home. “For many younger households, affordability challenges and limited inventory are still making homeownership difficult to achieve,” said Lautz. # Older millennials are moving up, not starting out as first-time homebuyers https://preview.redd.it/7i2bc0ot9dwg1.png?width=1125&format=png&auto=webp&s=8d42ef2113decfb95782cae362934ecb7d5e6242 While younger buyers struggle to get into the housing market, older millennials are increasingly trading up. This group had the highest median household income of any generation at $132,700 and bought the largest homes, with a median size of 2,100 square feet. They are also far less likely to be first-time buyers. “Older millennial buyers are now entering middle age, and with that comes a shift,” said Lautz. “This cohort is now the highest-earning generation of homebuyers, buys the largest homes and is most likely to have children living with them.” In other words, they are behaving more like Gen X buyers once did. # Multigenerational living is easing Multigenerational homebuying dipped slightly, with 14% of buyers purchasing homes to accommodate multiple generations, down from 17% last year. The reasons remain familiar: caring for aging parents, cutting costs, or making room for adult children moving back home. Gen X buyers were the most likely to go this route, with 19% purchasing multigenerational homes, though that share also declined from last year. # Gen Z is small, but already changing the homebuying rules The youngest buyers are still a small slice of the market, making up just 4% of homebuyers. But they are already standing out. Among Gen Z buyers, 35% were single women, the highest share of any generation, and 17% were unmarried couples, also the highest. “What stands out about Gen Z is how confidently they’re beginning to define homeownership for themselves,” said Lautz. For many, buying a home is no longer tied to traditional milestones like marriage or starting a family. # Baby boomers are also dominating the home selling side Baby Boomers are leading on the home selling side as well. They made up 55% of all sellers, often leveraging years of home equity to make their next move. Sellers across all generations typically stayed in their homes for about 11 years before listing, though timelines varied widely. Younger millennials tended to sell sooner, after about five years, while older Boomers stayed put for closer to 15 years. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/50l6ro8fd0ug1.png?width=1600&format=png&auto=webp&s=3f296232aa3ca02493d2a0b0da9bd305e8ba538b By [Sarah Elizabeth Adler](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/sarah-elizabeth-adler,,4145/?epieditmode=true) April 17, 2026 The term “jumbo loan” might bring images of sprawling mansions in exclusive ZIP Codes to mind. But these mortgages are not just for the ultra-wealthy. In high-cost areas across the country, [jumbo loans](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/jumbo-loan,,13391/?epieditmode=true) are an increasingly common way for average homebuyers to afford homes with not-so-average price tags. These mortgages are used to finance homes with sales prices that exceed [conforming loan](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/understanding-conforming-loans-versus-non-conforming-loansand-why-homebuyers-should-care,,3774/?epieditmode=true) limits. This means they’re not eligible to be backed by Fannie Mae or Freddie Mac, the government-sponsored enterprises that secure most U.S. mortgages. However, contrary to popular belief, qualified buyers using jumbo loans typically don’t face sky-high mortgage interest rates and may not be required to make very large down payments. “Jumbo \[interest\] rates are not necessarily higher than conforming rates,” said [Lisa O’Malley](https://www.newamericanfunding.com/mortgage-loans/lisaomalley), a New American Funding sales manager and senior mortgage consultant based in Northbrook, Ill. “Generally speaking, the guidelines are not as flexible as \[other\] loans, but there are sometimes some features that … add some flexibilities \[for\] the borrower.” Below, we break down some of the most common myths about jumbo loans.   # Myth No. 1: Jumbo loans are only for wealthy homebuyers One of the biggest misconceptions about jumbo loans is that they’re only used by the wealthy or to purchase luxury properties. The reality? In [some markets](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/housing-news/these-are-the-hottest-zip-codes-in-the-u.s.-right-now.-did-yours-make-the-list,,11442?epieditmode=true), even modest homes can be more expensive than the conforming limit set each year by the Federal Housing Finance Agency (FHFA), the government agency that oversees Fannie and Freddie. The [2026 conforming limit](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/housing-news/big-news-for-homebuyers-and-homeowners-here-are-the-new-loan-limits-for-2026,,13556/?epieditmode=true) is $832,750 for a single-family home in most parts of the country and up to $1,249,125 in certain high-cost areas. If you’re looking to borrow more than that to purchase a home, you’re likely in jumbo-loan territory. “What’s unique about jumbo loans is that for those who do have a lot of \[financial\] assets, there are income calculations based on their assets that we can use to help qualify them,” O’Malley said. That means jumbo loans can also be a particularly good fit for buyers such as [retirees](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/housing-news/enjoy-your-golden-years-these-are-the-10-best-places-to-retire-in-america-in-2025,,9636/?epieditmode=true) or those who inherited money or have financial investments. # Myth No. 2: You need at least 20% down to buy a home with a jumbo loan https://preview.redd.it/tf3nhpsdd0ug1.png?width=1125&format=png&auto=webp&s=c7dd6556d3b033b9c29928a86a0eb4c05aba6f1f Putting 20% down can help you avoid [private mortgage insurance](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it,,4080/?epieditmode=true) (PMI), which is an extra cost tacked onto your monthly mortgage payments. It can also help you to improve your loan terms. However, [down payments](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/down-payments-what-you-should-know,,2925/?epieditmode=true) as low as 10% may be available, depending on your financial profile and your lender. Some lenders may require at least 20% down, while others may allow you to kick in less. The downside to contributing less is that the amount you put down influences the mortgage interest rate you receive. “The more you put down, the lower your rate because of the reduction in risk \[to the lender\],” O’Malley said. # Myth No. 3: Jumbo loans have high interest rates Many homebuyers believe jumbo loans have higher mortgage interest rates than some other types of popular loans. Jumbo loans tend to have slightly higher interest rates than conforming loans. But depending on the lender and market conditions, the difference may be negligible.  In some competitive lending environments, jumbo rates can even be on par with or lower than conforming rates for well-qualified borrowers. # Myth No. 4: You can’t get an FHA or VA jumbo loan  The [Federal Housing Administration](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/fha-loan,,13416/?epieditmode=true) (FHA) and [Veterans Affairs](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/va-loan,,12083/?epieditmode=true) (VA) also offer jumbo loans for those who qualify. However, borrowers should note that eligibility and other requirements may vary from conforming FHA and VA loans. For example, an FHA jumbo borrower might need a higher credit score compared to the 580 minimum for regular FHA loans. And while VA jumbo loans still offer a $0 down option, purchase prices exceeding $1.5 million require a down payment. # What to know before you apply for a jumbo loan https://preview.redd.it/4eup2hkcd0ug1.png?width=1125&format=png&auto=webp&s=456ebb715a0e8326fbb11835d228a202d4882dfa The approval process for jumbo loans is often more stringent than for other types of loans. This is because these are larger loans that don’t have the backing of Fannie Mae or Freddie Mac, which translates into more risk for lenders. Expect to provide detailed documentation of your income, assets, and debt. A minimum [credit score](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/tips-to-boost-your-credit-score-before-buying-a-home,,2823/?epieditmode=true) of 680, a solid [debt-to-income ratio](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/videos/buying-a-home-pay-attention-to-your-debt-to-income-ratio,,6556/?epieditmode=true) (how much you earn compared to how much debt you have), and six months or more of cash reserves are among the qualifications that lenders typically seek.   O’Malley also noted that today’s buyers may qualify for jumbo loans more easily than in the past thanks to changes in how some mortgage investors carry out the [underwriting process](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/understanding-the-underwriting-process-a-behind-the-scenes-look-at-approving-home-loans,,3045/?epieditmode=true) that determines whether borrowers will be approved for loans. Not sure whether you qualify for a jumbo loan? “It all points to really doing that \[mortgage loan\] pre-approval,” O’Malley said. If issues come up during the [pre-approval process](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/how-long-does-mortgage-pre-approval-take,,2047/?epieditmode=true), your lender can help “address them quickly and hopefully within the timeline that \[buyers\] want.” *Lisa O’Malley NMLS# 223811* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/uj0yhr0w60ug1.png?width=1600&format=png&auto=webp&s=ad9fc207517bc1ae5876c5ded1accbc63baab2e4 By [Rachel Murphy](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/rachel-murphy,,6542/?epieditmode=true) April 16, 2026 Buying a home can feel like a competitive sport. First, you need to find the right property, then you must jockey for favor from the seller to beat out the other buyers. And when you’ve almost clinched it, you often still need to secure your mortgage. Financing is often one of the biggest homebuying steps. And sellers often consider how quickly you’re able to lock in a loan when they’re deciding between offers. So, how long does a mortgage application and approval take? “Traditionally, you can expect a 30- to 45-day close,” said New American Funding loan consultant [Eva Melgarejo](https://www.newamericanfunding.com/mortgage-loans/evamelgarejo). She is based in Long Beach, Calif. “Some direct lenders or specialty brokers can get you to [close in as little as 14 days](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/buy-a-home/14-business-day-close-guarantee,,3994/?epieditmode=true).” Homebuyers who are already [preapproved for a mortgage](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage,,2045/?epieditmode=true) may have an edge as much of their information has already been verified. Let’s take a look at what goes into a mortgage application and what speeds up, and slows down, the process. # Which mortgage requirements take the most time? The mortgage approval process requires a comprehensive review of your financial situation. Lenders generally need [several key documents](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/applying-for-a-mortgage-the-crucial-documents-homebuyers-will-need,,6545/?epieditmode=true): the last two years of W-2 forms, your most recent pay stubs, and your most recent bank statements. This documentation provides a good picture of your earnings and savings. You will also typically need a home appraisal. Once you have an offer accepted, generally, your lender will schedule a property appraisal. Appraisals verify the property’s current value to ensure you’re not overpaying for the home. They can take as little as a few days, from scheduling to receiving the final report, to several weeks. Appraisals for [Federal Housing Administration (FHA)](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/fha-loan,,13416/?epieditmode=true) and [U.S. Department of Veterans Affairs (VA) loans](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/va-loan,,12083/?epieditmode=true) may take even longer due to different requirements. # What can cause delays with your mortgage? https://preview.redd.it/446pc9su60ug1.png?width=1125&format=png&auto=webp&s=5dcd51045f0f6c74f10afa1917b8c7ca724b5886 Homebuyers with income that varies month-to-month or year-to-year or who have changed jobs within the last two years should expect that it may take longer for your mortgage to close. The best way to speed up your application is to disclose all your income sources, including child support, overtime, and any special government subsidies like Social Security income, immediately, said Melgarejo. “If we don’t have a complete financial file, if the client has delayed signing things, or if the appraisal is not ordered in time, those are the things that delay a closing,” she said. Job changes can be a bigger delay than many buyers realize. Even if your income has stayed the same from year to year, a change in how you are paid can affect the approved amount of your loan. Say you made $90,000 in the last two years. But you transitioned from earning all your income as a traditional employee who receives a W-2 tax form to earning half of that income as commission. Lenders may only include the guaranteed salary in your financial statements, depending on your situation, loan, and other specifics. # Do certain mortgages take longer to close? There are many different types of home loans available. Each has very similar requirements, although some loans will need additional information or inspections. For example, government loans, such as VA and FHA loans, may have a longer appraisal process. # Should I get pre-approved for a mortgage? Pre-approval letters, particularly when your file has been reviewed by an underwriter before you find a property, may speed up your closing timeline. This process, sometimes called being “fully underwritten,” means the lender has already verified your income and approved your financial profile. While you will still typically need to get an appraisal, the loan application is generally smoother provided your financial picture hasn’t changed. # How long does it take to refinance your mortgage? https://preview.redd.it/25tijudt60ug1.png?width=1125&format=png&auto=webp&s=7862e81728347c71679825af8ee3f909008e654f When interest rates drop, homeowners with high interest rates may consider [refinancing their mortgages](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/refinance,,33/?epieditmode=true) to save money. Generally, the process takes 30 to 45 days. Since borrowers are not competing with other buyers for the property, these loans may take longer to close than purchase loans. [Interest rate locks](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/when-should-you-lock-in-a-mortgage-rate,,10822/?epieditmode=true) allow borrowers and lenders to take more time to work through the necessary steps without worrying that mortgage rates will rise before closing. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/t93ggeqk70ug1.png?width=1600&format=png&auto=webp&s=43b4618c9958c472720a52d7812498efe0cf95e7 By [Timothy Moore](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/timothy-moore,,8310/?epieditmode=true) April 15, 2026 Picture this: You find a great home at a good price, but you decide to sleep on it before submitting an offer. When you wake the next morning, eager to move forward, mortgage interest rates have ticked up by a quarter of a percent. Suddenly, you're wishing for may be beyond your financial reach. It’s a frustrating reality of today’s housing market: [Mortgage rates](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/mortgage-rates,,53/?epieditmode=true) don’t sit still. They move up and down, often multiple times a day. But there are steps you can take to [lock in a rate](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/videos/should-you-lockor-floatyour-mortgage-interest-rate,,10458/?epieditmode=true) and insulate yourself from swings. Even small shifts in interest rates can have a meaningful impact on which home you can afford and how much your monthly housing payment will be each month. For homeowners hoping to [refinance](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/refinance,,33/?epieditmode=true) an existing mortgage, a rate jump can be equally frustrating. “These changes can be substantial,” said Realtor Alexei Morgado, founder and CEO of [Lexawise](https://www.lexawise.com/), a real estate exam preparation company. So why *do* rates move so much, and so fast? And what can you do to protect yourself? Here’s what you need to know. # Does the Fed set mortgage rates? Many homebuyers believe the U.S. Federal Reserve sets mortgage rates. That’s not true. The Fed determines its Federal Funds rate, an interest rate that is separate from mortgage rates. However, the Fed’s rates influence mortgage rates. So, when the Fed indicates it’s likely to cut rates, mortgage rates often dip. Similarly, if the Fed is likely to raise rates, mortgage rates generally increase. # How bonds affect mortgage interest rates To understand [why mortgage rates fluctuate](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/why-mortgage-rates-change-and-what-it-means-for-you,,3416/?epieditmode=true), it helps to know what drives them in the first place. Rates are closely tied to the yield on 10-year U.S. Treasury bonds, which are a low-risk investment. When investors buy more bonds (typically in times of economic uncertainty), bond yields fall, and mortgage rates tend to follow. When investors later sell those bonds and move money into riskier assets, like stocks, bond yields rise. And so do mortgage rates. # Other market movers that impact mortgage interest rates https://preview.redd.it/5z8vm6fj70ug1.png?width=1125&format=png&auto=webp&s=05314ef834fee3565dfdc16e46b7490a48c2e8c1 Like the economy as a whole, mortgage rates are complex. There are so many other factors that can send them up and down. “Anything that affects investors, such as employment numbers, inflation, or world events, can cause your rate to change several times an hour,” said Morgado. That can include: * Economic data, such as inflation, gross domestic product (GDP) growth, and unemployment rates. That’s because the Fed typically raises rates to bring down inflation or lowers rates if unemployment is high. * Major world events, such as war, political instability, destructive storms, or, as we saw earlier this decade, global pandemics. # How minor rate changes can impact your ability to buy a home A quarter point rate change in either direction may not sound significant. But when you’re purchasing something that costs several hundreds of thousands of dollars and paying it back over 30 years, a slight fluctuation in rates can have a major impact on how much you spend each month and in the long run. “If you are buying a house today…\[for\] about $400,000, a small change of a quarter of a percent in interest rate can change the [monthly payment](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/whats-really-in-your-monthly-mortgage-payment-breaking-down-the-costs,,7109/?epieditmode=true) by about $65,” Morgado explained. Over a 30-year mortgage, that difference will cost you roughly $23,000. When you factor in new-to-you costs as a first-time homebuyer, such as home insurance, property taxes, [private mortgage insurance](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it,,4080/?epieditmode=true), higher potential utility costs, HOA fees, and home repairs, a $65 difference in your monthly budget can be a big deal. # How to protect yourself from rate volatility The good news? There are steps you can take to reduce your exposure to rate swings: # Lock in your rate Once you’re under contract on a home, ask your lender about a [rate lock](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/what-is-a-mortgage-interest-rate-lock,,3873/?epieditmode=true). This guarantees your interest rate for a set period (usually 30 to 60 days) while you work through closing. If you like your rate and are worried rates may increase in the coming weeks, this can be a smart move. # Ask about a float-down option https://preview.redd.it/pomu7o0i70ug1.png?width=1125&format=png&auto=webp&s=07b97deaa030d3ee4a8f34f5d38d3f11c5ebb147 If you’re worried rates could go down after you lock in yours with your lender, you can instead ask about a float down. “A float down is a rate lock that cannot be raised, but *can* be lowered if rates fall before closing,” Morgado explained. “Everyone should ask their lender about this before they’re under contract, because rates are changing so quickly.” # If you’re refinancing your home loan, watch the break-even point If you’re hoping to refinance, run the numbers on how long it will take to recoup the closing costs (called the [refinance break-even point](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homeowners/homeowners-heres-how-to-calculate-the-mortgage-refinance-break-even-point,,13272/?epieditmode=true)). If rates have started to inch back up after you’ve been watching the market, but they’re still notably lower than your current rate, it may still make sense to refinance to lower your payments. You want to make sure you’ll recover the refinance costs within a few years. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/7ne98j6k80ug1.png?width=1600&format=png&auto=webp&s=fd9b569c758ba1e02b7a19a2a0f0b91ed46918ba By Chad Church April 14, 2026 If you’re thinking about buying a home, refinancing a mortgage, or pulling equity out of your property, you’ve probably already started asking around. That’s usually where things get complicated. You hear one thing from your parents, something completely different from a friend, and your neighbor who had a “great experience” doing it their way. Then you talk to a lender, and now you’ve got even more information, more opinions, and more noise to sort through. So, how do you choose which lender to work with? Most people think this decision comes down to one thing: the mortgage interest rate. To be clear, the interest rate absolutely matters. You should be shopping around. But every day I see people comparing numbers without fully understanding what’s behind them. A lower interest rate may come with higher fees, while a slightly higher rate might have few, or even no, upfront costs. On paper, either could look like the better deal depending on how it’s presented. That’s where things start to break down. You may be asked to compare things that aren’t always explained clearly. # Why do you want this home loan? Before getting into numbers on individual loans, I always start by asking why. Why this home? Why now? Why refinance? Why access home equity? A loan officer who is focused on advising, not just selling, will take the time to understand the “why” behind the decision.   This isn’t just about getting a loan approved. It’s about understanding what the loan is meant to change or solve. For some, it’s stability. For others, it’s creating breathing room in their monthly budget or opening the door to something they couldn’t do before. When a loan officer understands the situation, they can better guide the conversation, align options with your goals, and help to come up with a strategy that meets your needs. The easiest way to think about it is when you go to a doctor, they don’t just hand you a prescription. They ask questions, understand symptoms, and determine the best course of action before recommending treatment. The same concept applies here. When you’re deciding who to work with, it’s not just about the loan itself. It’s about how well your goals are understood and whether the person guiding you is helping you make an informed decision. # Some lenders will match or beat offers from other lenders You’ve probably heard some version of “if you find a better deal, we’ll match it or beat it.” On the surface, that sounds helpful, but it raises a bigger question. Why wouldn’t a lender just give you their best option upfront? At the end of the day, this decision is yours. You’re the one who has to make that mortgage payment every month. That money comes from your work, your effort, your budget, your life. Because of that, it’s worth slowing down and thinking beyond just the initial quote. # What matters most to you when you’re getting a home loan? One question I often ask is if every lender had the exact same rates and fees, who would you choose? Most people pause there, because if everything were equal on paper, the decision suddenly becomes about something else. And that “something else” is usually what matters most. If you’re trying to cut through the noise, it helps to look beyond just the numbers and spend some time evaluating the people you’ll be working with on your loan. Reviews can be a good place to start, but not just the five-star ones. Every company has a mix of feedback, the good, the bad, and sometimes the ugly. That’s normal. Even Disneyland has unhappy customers. What matters is how a company responds. Are their responses thoughtful and sincere or generic? Do they try to make things right if something goes wrong? You can also look up both the lender and the individual loan officer through the Nationwide Multistate Licensing System (NMLS) Consumer Access portal. This provides insights into their licensing, history, and consistency. It’s worth paying attention to whether you’re working with someone established or someone who changes companies frequently. # What happens after your mortgage closes? Another area most people don’t think to ask about is what happens after the loan closes. Will your loan be serviced by the same company or will it be sold to a mortgage servicer? Who are you going to be making payments to each month? Not all loan servicing experiences are the same. Some are built around customer support, while others feel far more transactional. And when questions come up later, which they almost always do, that difference matters. # What should you look for in a mortgage lender beyond low interest rates? What I want people to understand is that there are a lot of good options out there, a lot of solid lenders, and a lot of competitive rates. But what’s far less common is a loan officer who takes full responsibility for making sure you understand everything clearly, gives you their best upfront, and helps you think through the decision. That’s the difference. At the end of the day, you should absolutely shop around, but don’t just shop for an interest rate. Factor in the fees when you’re weighing your costs. And think about who is helping you make the decision, how they communicate, and whether you trust them to guide you through one of the most important financial decisions you’ll make. ***Chad Church has expertise in the mortgage and housing industry. He has helped thousands of families navigate the path to homeownership. With decades of experience in lending and real estate, he provides clear, practical guidance to help homebuyers and homeowners make confident financial decisions.*** [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Many aspiring [first-time homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/how-fha-loans-provide-a-flexible-path-to-homeownership-for-first-time-buyers/) have struggled to get a foothold into the housing market for the past few years, squeezed by a limited number of homes for sale and affordability headwinds. Luckily, that’s changing in some parts of the country. In more housing markets, like Jacksonville, Fla., homebuyers are finding increased options, less competition, and a clearer path to ownership than they have seen in years. Jacksonville was named the best housing market for first-time buyers, according to a [new Zillow analysis](https://zillow.mediaroom.com/2026-04-02-Zillow-names-Jacksonville-the-best-market-for-first-time-buyers-this-spring). The real estate listings portal looked at the 50 largest metropolitan areas and ranked them based on affordability, housing inventory, competition, and appeal of these locations. “First-time buyers are finally seeing some light at the end of the tunnel,” Orphe Divounguy, senior economist at Zillow, said in a statement. “Affordability is still a challenge, but rising incomes, stabilizing prices, and improving inventory are creating real opportunities in parts of the country.” In the top markets, first-time buyers will find more choices, less competition, and “a clearer path to homeownership than they’ve had in years,” added Divounguy. # Why these 10 housing markets are best for first-time homebuyers The top-ranked housing markets tend to be more reasonably priced, with up to 68% of listings considered affordable for a typical household. A listing is considered affordable if the estimated monthly payment, including taxes, insurance, and maintenance, constitutes no more than 30% of a typical household’s income. Housing stock has also recovered faster in many of these areas, particularly across the Sun Belt. This means less competition and pressure to make quick offers at or above asking price. Another reason these markets have an advantage in homebuying is their lower “rent burden,” which measures how much of a household’s income goes toward rent. The lower the burden, the easier it is for renters to save for a down payment and become homeowners. In the right areas, first-time buyers are finally discovering something that’s been missing for years: options. # Here are the 10 cities where buyers have the best shot right now 1. **Jacksonville, Fla.** **Rent burden:** 23.1% **Affordable listings:** 47.8% Jacksonville ranks at the top of the list due to a strong balance of affordability and housing supply. Nearly half of the listings are affordable for a median-income household, and the number of listings provides buyers with more flexibility than in most major metros. 2. **Birmingham, Ala.** **Rent burden:** 21.1% **Affordable listings:** 55.6% The Magic City stands out for its affordability. More than half of listings are considered affordable, and relatively low rent burdens make it easier for buyers to save for a down payment. 3. **San Antonio, Texas** **Rent burden:** 20.2% **Affordable listings:** 47.4% San Antonio offers affordable home prices and an uptick in listings, giving buyers more choices and less pressure to act quickly. 4. **Atlanta** **Rent burden:** 22.3% **Affordable listings:** 45.2% The Southern city has a large, active housing market with rising housing stock. This helps reduce competition for entry-level buyers. 5. **Houston** **Rent burden:** 22.7% **Affordable listings:** 40.2% Houston’s size and consistent housing supply provide buyers with more negotiating leverage. 6. **St. Louis** **Rent burden:** 19.5% **Affordable listings:** 67.7% St. Louis has one of the highest percentages of affordable listings, making it a potentially good place for first-time buyers to become homeowners. 7. **Detroit** **Rent burden:** 21.8% **Affordable listings:** 64.8% The Motor City area offers affordability along with a fair number of homes for sale, resulting in a unique mix of low prices and available properties. 8. **Raleigh, N.C.** **Rent burden:** 18.4% **Affordable listings:** 48.0% Raleigh’s lower rent burden helps buyers save money. Meanwhile, a growing supply of homes is easing competition in a historically tight market. 9. **Baltimore** **Rent burden:** 21.5% **Affordable listings:** 61.8% The port city provides a good balance of affordability and homes, with most listings accessible to median-income buyers. 10. **Louisville, Ky.** **Rent burden:** 20.9% **Affordable listings:** 54.1% Louisville completes the list with good affordability and manageable competition in the entry-level home market. # What else first-time homebuyers need to know Even in the most favorable markets, a homebuying strategy still matters. Here are a few tips: * **Take advantage of negotiating room:** More homes for sale and less competition can lead to price reductions, [closing cost credits](https://www.newamericanfunding.com/learning-center/videos/what-are-closing-costs/), and [mortgage rate buydowns](https://www.newamericanfunding.com/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands/). Buydowns can temporarily lower your interest rate in the first years of homeownership. * **Focus your search on areas where affordability fits.** Expanding into lower-priced markets can significantly increase your chances of finding a home. * **Stay flexible:** Even in strong markets, well-priced homes can still sell quickly, so keep an eye on listings. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/bym7c70290ug1.png?width=1600&format=png&auto=webp&s=eb80aa78def03b709c951e1699457e0e722e7a09 By [Anna Baluch](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/anna-baluch,,8343/?epieditmode=true) April 13, 2026 Even though the housing market is still hot, some sellers may find it difficult to sell their homes.  This spring, there are more properties for sale, leading to more competition for buyer attention. That can leave some home listings languishing on the market. “A stagnant listing usually stems from an issue with price, condition, or marketing. Fix the right one, and it will sell,” said John Gluch, real estate agent at the [Gluch Group](https://gluchgroup.com/) at exp Realty in Phoenix. If you’re struggling to sell your property, rest assured you’re not out of luck. Below, we’ll break down seven strategies to help you close that sale or find financially advantageous alternatives. # Selling strategy No. 1: Lower the price of your home The top reason homes don’t sell? They’re priced too high. “Sellers like to price their homes based on what their neighbor got six months ago, but the market moves fast,” said Gluch. “Today’s buyers are more informed than ever and will skip right past an overpriced listing without a second thought.” Dropping the price, even a little, might be all it takes to get to the closing table.   # Selling strategy No. 2: Improve your home If you have the time and budget, strategic updates to the property may help attract buyers. Fortunately, most of the time you don’t have to make any major overhauls or full renovations.  “Fresh paint, updated fixtures, professional staging, deep cleaning, and landscaping are all worthwhile,” said Gluch. “These are high-return investments.” Ultimately, your goal is to compete visually with the newer homes out there.  # Selling strategy No. 3: Offer incentives to homebuyers Due to the mortgage rate-sensitive environment we’re in, it might make sense to offer [concessions](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/more-home-sellers-are-offering-concessions.-this-is-how-homebuyers-can-save-big,,10228?epieditmode=true). This may include covering the buyer’s closing costs or temporarily [buying down their interest rate](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands,,11459/?epieditmode=true).  “A one- to two-point rate buy-down can meaningfully lower a buyer’s monthly payment and get a deal done that otherwise wouldn’t happen,” said Gluch. For example, a 2-1 buydown is when the seller temporarily buys down the buyer’s mortgage rate. If the buyer got a mortgage with a 6% mortgage rate, for the first year of the loan the rate would be two percentage points lower at 4%. The next year, it would be a percentage point lower at 5%. Then it would adjust to 6% for the rest of the loan. While this incentive is essentially a price reduction, it can offer the psychological nudge a buyer needs to seal the deal.  # Selling strategy No. 4: Become a landlord  https://preview.redd.it/3xwuu4f090ug1.png?width=1125&format=png&auto=webp&s=a9869b4d5b4497a79ac28d30ae228bd72e87aede Renting your property, if you’re having trouble selling, may be a financially savvy option. It can allow you to generate rental income, preserve your home, and wait for better market conditions. That’s why it’s no surprise that [2.3% of homes recently listed for rent on Zillow were also listed for sale](https://zillow.mediaroom.com/2026-03-11-Accidental-landlords-rise-to-three-year-high-as-market-shifts). “If you go this route, find a good tenant and establish communication on rental terms, showing and explaining what happens if the property is sold,” said Parisa Afkhami, real estate agent at [Coldwell Banker Warburg](https://cbwarburg.com/agent/parisa-m-afkhami) in New York City.  Also, before you move forward, understand and accept the fact that being a landlord is not passive income. Tenant issues, maintenance calls, potential property damage, and the emotional weight of managing a home you're trying to sell are all part of the job. Additionally, you may have time between tenants where you’re not collecting rental income.  # Selling strategy No. 5: Take out a bridge loan Some lenders offer [bridge loans](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homebuyers/what-is-a-bridge-loan,,2115/?epieditmode=true) to “bridge” the funding gap between buying a new home and selling your current property. These loans usually last between three months to a year. Depending on the loan, you may have to make monthly payments, interest-only payments, or a balloon payment at the end of the term. A bridge loan should be on your radar if you can’t afford a down payment without selling your existing property first. You may also want to use one if you need to secure a new home soon for personal or professional reasons, such as moving for a new job. # Selling strategy No. 6: Offer cash on a new home If you’re having trouble selling your home and want to move, you have other options in addition to a bridge loan. Some lenders will [make a cash offer](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/buy-a-home/naf-cash,,4019/?epieditmode=true) on your new home. Once the deal closes, you can rent the property from them until you get a mortgage through the company. This can give you time to sell your existing home while helping you secure a home in a more competitive housing market. “This strategy removes the contingency, eliminates the pressure of a rushed sale, and gives you negotiating power in a competitive offer situation,” said Gluch. # Selling strategy No. 7: Consider an iBuyer or real estate investor If your home needs repairs or hasn’t been updated in many years, it may linger on the market. Sellers who don’t want to renovate or do a lot of work on the property may want to consider iBuyers and real estate investors. However, you likely won’t fetch top dollar for the property. “This is a convenience play, not an equity play,” explained Gluch. iBuyers and investors factor in their risk and operational costs, so you’ll pay a premium for speed and certainty. However, if you need to get your home off the market as soon as possible, it may still be an option worth considering.  [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/1pnho1ap90ug1.png?width=1600&format=png&auto=webp&s=1bbb1e650776a4df9ec1e968c8a2a776e21e1bee By [Ellen Sheng](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/ellen-sheng,,15146/?epieditmode=true) April 10, 2026 A college degree is a milestone to be proud of, but it often comes with hefty debt.  The average federal student loan debt is now nearly $40,000, according to the [Education Data Initiative](https://educationdata.org/average-student-loan-debt). This can delay other life milestones, such as buying a home, starting a family, or saving for retirement. But there may be another way to foot the tuition bill. Parents of college-bound kids, who already own a home and have built equity in their property, may want to consider a home equity loan. These can include [Home Equity Lines of Credit (HELOCs),](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/refinance/home-equity-line-of-credit,,11830/?epieditmode=true) [second mortgages](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/second-mortgage,,14463/?epieditmode=true), and [cash-out refinances](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/refinance/cash-out-refinance,,12392/?epieditmode=true) to cover college costs. These loans may offer lower interest rates than private student loans. “If you’re about to have kids in college and you haven’t been saving since they were a kid, there are ways to make it happen,” said [Mychael Fields](https://www.newamericanfunding.com/mortgage-loans/mychaelfields), senior sales manager at New American Funding. He’s based in Novi, Mich. “\[You may be able to\] take equity out.” # When a home equity loan might make sense for college tuition One reason to choose a home equity loan over traditional student loans comes down to interest rates. While rates for federal student loans for undergraduates may be comparable to home equity loans, private student loans offered by banks, credit unions, and other lenders can climb well into the double digits. Home equity loans are tied to the value of your property, which typically keeps rates lower. Tapping home equity won’t affect your child’s financial eligibility for financial aid since equity in your primary home isn’t counted as an asset. That means borrowing against it won’t reduce the amount of aid your family might qualify for to help pay for school.  Ultimately, choosing between federal student loans or home equity loans comes down to your family’s personal financial situation and the amount of equity you’ve built. To be eligible for a home equity loan, homeowners need to have at least 15% to 20% of equity in their home. The equity can come from a combination of home appreciation and paying down the loan. Lenders will typically allow homeowners to borrow up to 75% to 80% of the home’s equity. So, on a $500,000 home with a $300,000 mortgage, you might be eligible to borrow up to $100,000. # What kinds of home equity loans are available? https://preview.redd.it/oxh09pwn90ug1.png?width=1125&format=png&auto=webp&s=5a6cfc64f4e3eda654af0a85ba27d34645ac1a22 There are three main ways to access home equity. Choosing the right one depends on how much you need, how quickly you need it, and how predictable your costs are. [**Home Equity Line of Credit (HELOC)**:](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homeowners/what-homeowners-dont-understand-about-helocsand-why-it-could-be-costing-them,,11497/?epieditmode=true) A HELOC works much like a credit card. You’re approved for a certain amount. You can draw on that line of credit as needed during an agreed upon period. Then you pay back only what you borrowed over time. Since college costs can vary a bit from year to year, the flexibility of a HELOC can be an advantage. Fields generally recommends HELOCs for college since the cost of living, books, and tuition often change annually.   “If you don’t know every year what it’s going to cost, it’s nice to have a Home Equity Line of Credit,” Fields said. “You have a defined amount. But tuition goes up, it’s nice to have that flexibility.” [**Cash-out refinance**](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homeowners/considering-a-cash-out-refinance-how-your-home-may-be-able-to-help-you-pay-your-bills,,14974/?epieditmode=true): A cash-out refi replaces your existing mortgage with a new, larger one. Then you pocket the difference. These can be a good fit when you have a specific, known dollar amount you need up front. In some cases, that could be to cover college debt. Fields once helped a family secure a cash-out refinance to pay off expensive debt incurred from one year at a private, out-of-state school. One point of caution: if you’ve already paid down many years of your mortgage, a cash-out refi that resets you to a new, 30-year term can cost you more in the long run. Fields advises borrowers to choose a 15- or 20-year loan term instead if they can afford the payments. [**Second mortgage**](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homeowners/second-mortgages-are-a-great-way-to-access-cashbut-are-they-right-for-you,,9222/?epieditmode=true): A second mortgage is a separate loan taken out on top of your existing mortgage, using your home as collateral. These loans may make sense for those who locked in a low mortgage rate they are reluctant to give up. While HELOCs are technically a form of second mortgage, a traditional second mortgage delivers a lump sum. Fields said he typically reserves this option for financial emergencies, since the loan may come with higher costs and places a second lien on the property until the loan is paid off or the home is sold. # Risks you need to understand before tapping home equity https://preview.redd.it/cs4hdcrm90ug1.png?width=1125&format=png&auto=webp&s=d224c57c6e1b1c1a96067984e98c7cf92121eccb Tapping your home equity to pay for college is not a decision to make lightly. If your financial situation changes and you can no longer make payments on the new loans, your lender can move to foreclose on the property in the worst-case scenario. One way to check if you’re taking on a manageable amount of debt is to watch your [debt-to-income (DTI) ratio](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/videos/buying-a-home-pay-attention-to-your-debt-to-income-ratio,,6556/?epieditmode=true). That’s the percentage of your gross monthly income that goes toward debt payments. “If your debt-to-income ratio is already high, taking out an additional loan on your equity just further worsens that strain,” said Fields. Be sure to do your homework and weigh all of your options before committing to pricey tuition. “Do your research first and don’t act out of desperation,” Fields said. *Mychael Fields NMLS # 339585* [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

[Mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) reversed course over the last week and fell for the first time in a month. Rates averaged 6.37% for 30-year, fixed-rate loans in the week ending April 9, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That’s down from 6.46% in the previous week. Importantly for [homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/how-successful-homebuyers-are-approaching-todays-spring-housing-market/) and homeowners hoping to [refinance their mortgages](https://www.newamericanfunding.com/refinance/), rates are also down from one year ago at this time when they averaged 6.62%. “The decrease in rates represents a positive development for prospective homebuyers and could spark a more favorable spring homebuying season than last year,” said Freddie Mac Chief Economist Sam Khater in a statement. The decrease comes at an opportune time for [homebuyers](https://www.newamericanfunding.com/buy-a-home/) and homeowners alike, as the spring housing market is about to [peak](https://www.newamericanfunding.com/learning-center/homebuyers/when-is-the-best-time-to-sell-a-home-two-new-studies-point-to-spring/). On a national level, home list prices are falling a bit. In March, they came down 2.2% year-over-year to a median $415,450, according to [Realtor.com data](https://www.realtor.com/research). Beyond that, the number of homes on the market is on the uptick, climbing 8.1% annually in March, according to Realtor.com. That increase is driving some home sellers to reduce their listing price. That combination, plus lower mortgage rates, are making the housing market more affordable.  Even small drops in rates can help homebuyers stretch their budget a little further. It can also help homeowners who are seeking a refinance, especially those who bought their home when mortgage rates were near 8%. They may be able to [refinance](https://www.newamericanfunding.com/refinance/) into a lower rate that could save them money. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/sl4qjpiob0ug1.png?width=1600&format=png&auto=webp&s=47c03450d22682c988f8593d81528a4b2a94aa8b By [Tim Maxwell](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/authors/tim-maxwell,,15200/?epieditmode=true) April 9, 2026 You found the home. You’ve got the down payment ready. But there’s one more obstacle: [mortgage rates](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/mortgage-rates,,53/?epieditmode=true). A high mortgage interest rate can increase the size of your monthly housing payment. It’s a big concern for all homebuyers, especially first-time buyers on limited budgets. Enter the [adjustable-rate mortgage (ARM)](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/arm-mortgages,,12258/?epieditmode=true). These home loans typically offer a lower initial rate that could lower the first years of mortgage payments, making them more manageable. But after the introductory period, the mortgage rate will adjust to current rates up to a certain cap. So, is getting an ARM a smart move for homebuyers? “In today’s market, it’s probably never been a more obvious time in my mortgage career to take the ARM,” said Raymond Williams, executive vice president of Consumer Direct at New American Funding. That’s because rates for ARM rates are often substantially lower than rates for [30-year, fixed-rate loans](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/loan-types/conventional-loan,,11435/?epieditmode=true). If you’re considering an ARM, here’s what you need to know. # How ARMs work An ARM starts with a fixed interest rate for a set number of years, often five, seven, or 10. After that initial period, the rate adjusts every six months or a year based on the current market conditions, up to a certain cap. You’ll often see ARM products listed as two numbers. The first number is the number of years the rate stays fixed. The second shows how often it adjusts after that, for the remainder of the loan term. When shopping ARMs, you’ll commonly see these three term structures: * 5/1 ARM: Rate is fixed for five years, then adjusts once a year * 7/1 ARM: Rate is fixed for seven years, then adjusts once a year * 7/6 ARM: Rate is fixed for seven years, then adjusts every six months Those adjustments are tied to a market benchmark, typically the Secured Overnight Financing Rate (SOFR), plus a fixed margin set by your lender. Rate adjustments are the biggest concern many borrowers have with ARMs. However, most ARMs include rate caps to protect you from unlimited increases. Many of these loans have a lifetime adjustment cap of five percentage points, according to the [Consumer Financial Protection Bureau (CFPB.)](https://www.consumerfinance.gov/ask-cfpb/what-are-rate-caps-with-an-adjustable-rate-mortgage-arm-and-how-do-they-work-en-1951/) This means the rate on your loan can’t rise or fall by more than five percentage points. Make sure you understand the cap structure of any ARM before signing. # How much can you save with an ARM? https://preview.redd.it/vrcxzk5nb0ug1.png?width=1125&format=png&auto=webp&s=f9d0484e38d080f5d8cf7ad9492aba0df389e9b6 The main benefit of an ARM is the savings it can provide compared to a fixed-rate mortgage. “Historically, ARMs often start somewhere from a half a percentage point to a full percentage point lower than comparable fixed mortgages,” said Alex Beene, a financial literacy instructor at the University of Tennessee at Martin. “On a typical starter home loan, that can equate to hundreds of dollars in monthly savings and potentially thousands per year during the fixed period.” For example, the median U.S. home sale price was just over $400,000 in the fourth quarter of 2025, according to  [U.S. Census Bureau and U.S. Department of Housing and Urban Development data](https://fred.stlouisfed.org/series/MSPUS). Someone who scored a loan 5.2% rate on a $400,000 home with 20% down could save about $200 compared to someone with a 6.2% rate on the same home. “You’ve got a lower monthly payment, it’s easier to qualify \[for a mortgage\] because your payment is lower and your debt is lower,” said Williiams. “Or the other way around, you can afford a more expensive house.” Before signing, use a [mortgage calculator](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/calculators/mortgage-calculator,,1298/?epieditmode=true) to run the numbers on any loan you're considering to make sure the mortgage makes sense for you.   # Which homebuyers are ARMs best for? ARMs are generally best for buyers who plan on [refinancing](https://nafl02mstrs8uo8prod.dxcloud.episerver.net/ui/CMS/Content/learning-center/homeowners/looking-to-save-money-you-may-want-to-refinance-your-home-loan-to-an-adjustable-rate-mortgage,,11572/?epieditmode=true) or selling their homes before the fixed period ends. They can also work well for borrowers who expect their financial situation to improve before the rate adjusts. ARMs can also be a viable option for buyers who would not otherwise be financially able to purchase a home. “Adjustable-rate mortgages offer a lower initial rate than a 30-year fixed mortgage,” said Nadia Evangelou, principal economist at the National Association of Realtors (NAR). “This can reduce the monthly payment in the early years and especially help first-time buyers qualify and purchase a home sooner.” The share of first-time homebuyers dropped to a record low of 21% in 2025, according to [NAR](https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers). Yet only 4% of those buyers chose an ARM. That said, you should only opt for an ARM if you have a strong understanding of the risks and a solid plan to address them. # Are ARMs risky home loans? https://preview.redd.it/e29rpxolb0ug1.png?width=1125&format=png&auto=webp&s=33d9947ad899c7e410194d9e2649fef22a09aff5 For all their benefits, ARMs also come with risks that homebuyers should consider. If rates rise and your monthly payment increases, it could strain your budget. While many mortgage professionals expect rates to go down in the coming years, nothing is certain. Most borrowers plan to refinance or sell before the fixed period ends. But that’s not always possible. “In that situation, the borrower could face a significantly higher monthly payment after the adjustment period,” said Beene. Williams said that today’s ARMs aren’t what they used to be. “Today’s ARMs are very predictable, very slow to rise,” said Williams. “And you’re fully provided with the paperwork upfront about how they adjust, when they adjust, and what the caps are.” *Raymond Williams NMLS # 270010*  [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/wxikw7mfbztg1.png?width=1600&format=png&auto=webp&s=641d115410d3f441249bda293c5639439c4fa8b6 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 8, 2026 For years, the formula for increasing a home’s value seemed simple: update the kitchen, refresh the bathrooms, maybe add some curb appeal, and call it good. But today’s homebuyers have a different mindset, and they’re willing to invest real money. Certain home features can increase sale prices by as much as 5.4% more than expected, or roughly $19,500 on a typical home, according to Zillow [research](https://zillow.mediaroom.com/2026-03-24-Cottagecore,-customization-quartzite-Zillows-2026-home-features-that-sell-for-more). This indicates that buyers aren’t just considering size or location anymore. They’re valuing how a home functions, how it feels, and perhaps most importantly, how much work it saves them after closing. So, what should buyers and sellers learn from this shift? Here’s what you need to know and how to apply it. # Lifestyle features are where homebuyers are spending money If one category stands out in the data, it’s lifestyle-driven features. These are the elements that buyers are willing to spend the most on. A private dock leads the list, increasing prices by 5.4%. Outdoor kitchens are close behind at 4.4%, with features like outdoor showers, fireplaces, and waterfront locations also adding clear value. Even a simple word like “cottage” in a listing can raise a home’s price.  The reason isn’t hard to understand. “After years of busy schedules and screen time, buyers are drawn to spaces that encourage slowing down, where they can picture sunset dinners by the water or s’mores around the fire,” said Amanda Pendleton, Zillow’s home trends expert, in a statement. For buyers, the key is understanding what you’re truly paying for with these features. If lifestyle is important to you, the premium might be worth it. If not, avoiding those expenses could help you save. # In the kitchen, materials are doing the talking https://preview.redd.it/din3m7hpbztg1.png?width=1125&format=png&auto=webp&s=3fef2f7b6e44e356b610edbd8fe42de80b209a4c The [kitchen](https://www.newamericanfunding.com/learning-center/homeowners/the-hottest-2026-kitchen-trends-how-to-get-the-look-for-less/) has long been the centerpiece of a home’s value, but what’s changing is how buyers evaluate it. It’s no longer enough for a kitchen to look modern. Buyers now focus more on the materials used and what they imply. Quartzite countertops now outperform almost every other surface, helping homes sell for 5.3% more than expected. That’s higher than quartz, marble, and other popular options. Why the shift? Buyers want materials that combine two features: stylish design and everyday durability. Quartzite offers both as a luxurious, natural stone choice known for its exceptional durability (it’s harder than granite) and a marble-like look. It appears high-end and indicates that the kitchen won’t need to be renovated anytime soon. Buyers looking for premium materials may be able to justify an offer with high-end details with real longevity. If they don’t, you may be better off negotiating or planning your own upgrades once you own the home. # Personal touches are no longer a liability on a home For years, home sellers were advised to remove personality and maintain a neutral appearance to attract the largest number of buyers. However, that advice is beginning to change. Today, homes featuring custom or bespoke elements are selling for about 3.2% more than expected. Buyers are responding to spaces that don’t feel generic. That might mean a built-in workspace that feels seamlessly integrated into a design instead of appearing stuck in a corner, or even a more niche feature like a golf simulator. What matters is that the space feels finished and purposeful. “I notice more requests for custom-made lighting and artisan pieces, where each detail tells a personal story rather than matching a catalog image,” said [Reinis Butka](https://featured.com/p/reinis-butka), an expert in interior design at [Luminesy.com](http://Luminesy.com) in Scottsdale, Ariz. For buyers, the lesson is to tell the difference between useful personalization and overly specific tastes. If a feature clearly adds value to your life, it might be worth paying for. If not, it could hinder resale later. # Turnkey homes are commanding a clear premium https://preview.redd.it/rjbznm9rbztg1.png?width=1125&format=png&auto=webp&s=b5b1673b75b811cdc197814aca8d4ea1b403019d If there’s one key point from the report that stands out, it’s that buyers are increasingly valuing homes that are move-in ready from day one. Turnkey homes sell for nearly 3% more than expected, and remodeled homes also fetch a premium. Meanwhile, fixer-uppers are trending in the opposite direction, selling for about 14% less.  That gap reflects the realities of today’s market. “Homes that are already updated and thoughtfully designed can command higher prices because buyers can roll those costs into their mortgage, rather than paying for expensive improvements after closing,” said Kara Ng, Zillow senior economist, in a statement. Indeed, paying more up front may cost buyers less in the long run if it avoids renovation expenses and delays. But if you have the time, budget, and appetite for a project, a fixer-upper could still offer a path to value. # For homeowners, smart financing can pay off For homeowners, this shift provides a straightforward guide to stand out in the market. If you’re getting ready to sell, the aim isn’t to overhaul everything, but to focus on updates that show the home is finished and easy to live in.  That might mean upgrading key materials, improving outdoor living space, or addressing the small details that make a home feel move-in ready. Using a [Home Equity Line of Credit](https://www.newamericanfunding.com/learning-center/homeowners/heloc-vs-home-equity-loan-understanding-the-key-differences/) (HELOC) can be a strategic way to fund those improvements upfront. Homeowners may be able to tap into their equity, borrow only what they need, and then repay the loan over time. This allows you to invest in features buyers are actively paying more for and potentially recoup that cost at sale.   [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/3srtwb1o7stg1.png?width=1600&format=png&auto=webp&s=8ac7d4678718bc5b4fb48501479564c355110c5d By [Tim Maxwell](https://www.newamericanfunding.com/learning-center/authors/tim-maxwell/) April 7, 2026 Many homebuyers have been waiting for [home prices](https://www.newamericanfunding.com/learning-center/housing-news/home-prices-are-falling-hitting-a-four-year-low/) or [mortgage rates](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-rise-but-remain-lower-than-last-spring/) to drop before jumping into the housing market. But even in a pricey market, homebuyers may still be able to find deals. There are plenty of properties for sale that have undergone a price cut or even multiple reductions. Buyers who focus on these homes may even be able to negotiate further for additional savings. “Sellers cut their prices because the home isn’t getting enough traction,” said Mike Bruce, a Denver-area real estate agent and owner of [Bruce Homes Colorado](https://brucehomescolorado.com/). Lowering the price may attract buyers and help get a sale across the finish line. For buyers who know how to find homes with price cuts, the savings may be substantial. # What does it mean when a home has a price cut? Don’t assume a price cut automatically means something is wrong with the property. It typically means the initial price was too high or the local market changed and the seller didn’t adjust quickly enough. “We see it most often when a home has been sitting for a few weeks with no offers or low showings,” said Bruce. “It can also be driven by timing, like if a seller needs to move and they can’t wait. They’ll cut prices.” Sometimes, however, price drops can be a red flag. “If you are seeing multiple price cuts or a big drop, then this can be a flag for deeper issues,” Bruce added. Those deeper issues could range from problems found during the [home inspection](https://www.newamericanfunding.com/learning-center/homebuyers/buyer-be-warned-what-home-inspections-dont-always-catch/) to an undesirable location or layout that turns buyers away. The bottom line is a small price cut is common, but multiple big cuts may justify taking a closer look before making an offer. # How to find homes with price cuts https://preview.redd.it/3x4yfh2k7stg1.png?width=1125&format=png&auto=webp&s=4491e7872270d1515a22b4517007b9aff1cd2a42 Fortunately, finding good deals is relatively easy. Most major real estate platforms display a property’s full price history. This allows you to see every price adjustment since the home first hit the market. Also, pay attention to how long the home has been on the market. A home that has been listed for several weeks with one or more reductions may be a sign the seller is ready to negotiate. Many listing portals let you set alerts for price drops in your target areas. That way, you may be among the first to know when a home you’ve been watching becomes more [affordable](https://www.newamericanfunding.com/learning-center/homebuyers/is-that-home-really-affordable-what-affordable-means-when-youre-a-homebuyer/). # Can you negotiate an even bigger price cut on a home? Once a seller has already dropped the price, it may be possible to negotiate to bring the price down even further. “A price cut shows already that the seller is open to adjusting the price. It doesn’t mean that you can lowball them, but there is room for well-supported negotiation,” Bruce said. For example, homes that are more affordable, have strong [curb appeal](https://www.newamericanfunding.com/learning-center/homeowners/10-cheap-ways-home-sellers-can-boost-their-curb-appeal/), and are in a desirable location typically don’t sit for long, especially after a price reduction. In this case, pushing too hard on price could backfire. “Sometimes the win is getting the \[home\],”said Robert Thompson, a real estate agent at [Legacy Group International](https://lgicareers.com/) in Chesapeake, Va. “Pushing for more can make the seller stand firm or take a different offer.” # Other ways to save if the sellers won’t cut the price further https://preview.redd.it/4i2oyvtl7stg1.png?width=1125&format=png&auto=webp&s=3166c66f0c6cc843af9ecec22fd802af4651c1af If the seller won’t continue to lower the price of the home, you may still be able to negotiate concessions that may reduce your overall costs. People selling their homes, as well as builders, may be willing to offer these money-saving perks. When there are no other offers, you might ask the seller to cover some of your [closing costs](https://www.newamericanfunding.com/learning-center/homebuyers/how-much-are-closing-costs/). This could potentially save you thousands of dollars. You may also ask for a temporary [mortgage rate buydown](https://www.newamericanfunding.com/learning-center/homebuyers/the-rise-of-mortgage-rate-buydowns-how-they-can-save-buyers-thousands/), which would lower your housing payments for the first few years. If the seller paid for a 2-1 buydown, you would get a mortgage at current interest rates. In your first year, the rate would be two percentage points lower than the contract rate. The next year, it would be one percentage point lower. Then it would adjust to the contract rate for the remainder of the loan. Some builders may even offer buydowns for the full duration of a 30-year, fixed-rate loan. This could significantly reduce your monthly payments. Buyers may also want to ask for warranties in case something breaks, as well as repairs and replacements after the home inspection. “There’s a lot that buyers can negotiate,” said Bruce. “These negotiations can be just as valuable as a lower price.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Featured Event: [Wax to Bronze Sculpture Workshop](https://static.wixstatic.com/media/7a9e0f_979e78d4f57f4973ab948b020852d6e9~mv2.jpg/v1/fill/w_735,h_735,fp_0.50_0.50,q_85,enc_auto/7a9e0f_979e78d4f57f4973ab948b020852d6e9~mv2.jpg) | [Cafe con Arte](https://www.cafeconarte.org/), Pasco | Saturday 11 Apr 2-4p $150 # 6-9 April **Classes/Workshops** Spring Break Art Camp | [Art YOUR Way](https://www.artyourway.org/), Pasco | 1-3p $125/wk # 5–17 April **Art/Theater** [Little Hearts Projects](https://www.thelittleheartproject.org/) | Kennewick Mid-Columbia Library, Kennewick | Library Hours [The Clothesline Project](https://www.clotheslineproject.info/) | Kennewick Mid-Columbia Library, Kennewick | Library Hours # 5–10 April **Classes/Workshops** Spring Break All Sport Clinic: Mon-Grass Volleyball, Tues-Lacrosse, Wed-Soccer, Thus-Flag Football | Pasco Sports Complex, Pasco | Grades 3–5: 10-11:30a, Grades 6–8: 12p-1:30p # 6–10 April **Classes/Workshops** Adopt-a-Pet Spring Art Workshop for Kids | [Art YOUR Way](https://www.artyourway.org/), Pasco | 12-2p $219/wk snack included # 10–12 April **Events/Hangouts** SageFen Maker Fest | [ Riverfront Hotel](https://www.richlandriverfronthotel.com/), Richland | 12p **Art/Theater** Wit | [The Richland Players](https://www.richlandplayers.org/), Richland | 7:30p, 2pm Sunday $22 # 6 April **Events/Hangouts** 100-year Celebration of the First Commercial Air Mail Flight in the United States | [Pasco Aviation Museum](https://pascoaviationmuseum.org/), Pasco | 9-11a Small Business Advising with Richland's SBDC | Richland Public Library, Richland | 9a-5p **Classes/Workshops** Beyond The Mat - Into the Art of Living | [Pura Vida Barre and Yoga](https://www.puravidabarreyoga.com/), Kennewick | 8a Hello Spring Vintage Truck Door Hanger Paint Night | [The Needle Spot](https://www.theneedlespot.com/), Pasco | 6-8p $42 **Sports** MCSSA 2026 Pre Season Practices | Lawrence Scott Park, Kennewick | 6p **Restaurants/Bars/Wineries** Foodies + New Friends: Pasco | 30’s edition FOR THE I WANT TO MEET NEW FRIENDS CLUB | Foodies, Pasco | 7p $34 # 7 April **Events/Hangouts** CNS Cares Richland Office Open House | [CNS Cares](https://cnscares.com/washington/), Richland | 4p April Candle Making Class | Tri-City Regional Chamber, Kennewick | 8a **Classes/Workshops** Lemonade Social Club: Trinity Hot Yoga | [Trinity Hot Yoga](https://trinityhotyoga.com/), West Richland | 1p $39 Reiki Healing Soundbath ✨️ 🌀 | Harmonic SoulScape, Richland | 7p Seed Mosaics | Richland Public Library, Richland | 1p Chicken Gang- Ages 14+ | [Rocco's Pizza](https://www.roccostricities.com/#most-popular), Kennewick | 6:30p $ April Candle Making Class | [The Peacock](https://www.experiencethepeacock.com/), Kennewick | 6p $40 **Music/Comedy** Guest and Faculty Recital: Elinor Freer, Andrew Harley, and Karlyn Bond, piano | Melvin K West Fine Arts Center, Walla Walla | 7p First Tuesday Music Series: Free Agent | [Bombing Range Brewing Company](http://bombingrangebrewing.com/), Richland | 6:30p **Sports** Buddy Club Cornhole Tournament | [The Arc of Tri-Cities](https://arcoftricities.com), Richland | 5p # 8 April **Events/Hangouts** Dance Convention - Spring Break | [Firehouse Elite Dance](https://firehouseelite.setmore.com/), West Richland | 1p Blood Drive🩸 | [Princess Theatre](https://www.prosserprincess.com/), Prosser | 11a April Chamber Luncheon | [Events at Sunset](https://www.sunsetgardenstricities.com/events-sunset-gardens/), Richland | 11:30p Free Ice Cream and Spinal Health Screening | [Ember Chiropractic](https://tricitieschiropractor.com/), Richland | 11a Bridging Partnerships Small Business Symposium | Three Rivers Convention Center, Kennewick | 8a 2026 Administrative Professionals Conference | [Hapo Center](https://www.hapocenter.com/), Pasco | 8a **Classes/Workshops** Seed Markers  | [db Studio at Barnard Griffin](https://dbstudiofusedglass.com/), Richland | 5:30p $77 Spring Boredom Busters: Upcycled Art | [REACH Museum](https://visitthereach.us/), Richland | 10a **Art/Theater** Public Piano Masterclass: Elinor Freer and Andrew Harley | Melvin K West Fine Arts Center, Richland | 7p **Markets** Second Harvest Tri-Cities Mobile Market | The Church of Jesus Christ of Latter-day Saints, Kennewick | 11a # 9 April *Note from the editor:* *Happy birthday to my spawn, my greatest creations! You've made it to level 22 and its been so badass to watch both of you play PvE with different strategies. I'm not going to lie, each level can be tricky and you'll go on some wild side quests-some cool, some scary and some that are just plain bullshit and too long. Just learn what you can from the RPGs and that will bump your xp. Also its much easier when you listen and learn from other players and pros who have cleared the level. The real secret is to find a good clan, use the lore wisely and find the right cheat codes for YOUR game level. Also, grinding will suck your hp so do not try and speedrun it.* *Unfortunately, it seems the devs have tilted and have become suuuuuper salty and trying to change everyone's source code. They have thrown in some mods that are rewarding cheating, switch you to PvP without warning, easter eggs filled with dog shit, bots who've gone off programming, maps that are incorrect, rdm's, achievements and loot that disappears or randomly loses value. Its made the game super glitchy, really laggy and its nerfed the whole fucking thing for many players. Its just not as fun and there's a lot of aggro, but I promise you will survive. Speaking of which do NOT listen to the players in the lobby because they are trolls or scrubs who just want you to rage quit. gg* **Events/Hangouts** Hanford Free Wellness Event | [United Energy Workers Healthcare - Washington](https://uewhealth.com/locations/washington), Richland | 9a April Beauty & Book Club! | Atlas Beauty Tri-Cities, Richland | 6p Moak’s History of Kennewick: A Personal Story | [Museum at Keewaydin](https://museumatkeewaydin.org/), Kennewick | 7p Rolling Hills Family & Friends Show | Pasco City Hall , Pasco | 7:30p Games on the Lawn | Richland Public Library, Richland | 1p Little Explorers: Spring Flowers | [REACH Museum](https://visitthereach.us/), Richland | 10:15p Queens Rise Part 2 | [Azucar at Out and About](https://www.cluboutandabout.com/), Pasco | 8p Bridging Partnerships Small Business Symposium | Three Rivers Elementary, Kennewick | 8a Mobile Market | [Columbia Basin Veterans Center](https://www.columbiabasinvetcenter.org/), Pasco | 11a **Classes/Workshops** Forrest Swing | [Muret-Gaston Wine Bar](https://muret-gaston.com/), Benton City | 6:30-8:30p $33 Argentine tango all level class | Richland Community Center, Richland | 6:30p Sound Bath + Cacao | [Carly Allred Studio](https://carlyallred.com/), Richland | 7p **Music/Comedy** Albany Opal | [Evergreen Family Wines](https://evergreenfamilywines.com/), Prosser | 6-8p Zac Grooms | [Goose Ridge Winery](https://www.gooseridge.com/), Richland | 5-7p Lisa Mann's NW'ern All-Stars feat. Terrie Odabi (Blues) | [Brewminatti](https://brewminatti.com/), Prosser | 7-9p # 10 April **Events/Hangouts** 7H Grand Opening & Ribbon Cutting | [7H Coffee Corner](https://www.instagram.com/7hcoffeecorner/), Prosser | 7a "Worlds Beyond Earth" | [CPCCo Planetarium - CBC](https://www.tix.com/ticket-sales/CBCPlanetarium/4311), Pasco | 7p Columbia Basin Youth & Young Adult Rally ⛪ | [Kennewick Seventh-day Adventist Church](https://kennewickadventist.org/), Kennewick | 7p Enchanted Ball | Richland Community Center, Richland | 5:30p Alicia Villarreal  | [Toyota Center](https://yourtoyotacenter.com/), Kennewick | 8p **Classes/Workshops** Line Dancing Lessons | [Purple Star Winery](https://www.purplestarwines.com/events.html), Benton City | 6-9p $10 Sip & Paint: Spring Series | [First Ave Center](https://www.pasco-wa.gov/167/First-Avenue-Center), Pasco | 5:30-7p $15/Pasco resident, $20/non Powerful Connections Spring Luncheon & Workshop | Three Rivers Convention Center, Kennewick | 11:30a Needle Felting Wildflower Class | [Art YOUR Way](https://www.artyourway.org/), Pasco | 6p $60 Western Hat Branding with Rhiannon Mcdermott | [Alley Kat Artisans](https://www.alleykatartisans.com/), Kennewick | 5:30p Move better & live pain free with the Eldoa Method | [ 3D-Fitness](https://www.3d-fitness.fit/), Richland | 3:30p **Music/Comedy** Three Rivers Saxtette | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 5-8p System of a Clown with Special Guests: Sawdust | Rays Golden Lion, Richland | 7:30 Colorblind | [Jokers Night Club](https://atomicbowl.com/night-club), Richland | 9p Libby Miller | [Henry Earl Estate Wines](https://mercerwine.com/), Walla Walla | 6-8p Eugene Torres Comedy Show | [Jokers Comedy Club](https://jokerstricities.com/), Richland | 7:30-9p $12 Albany Opal | [Solar Spirits](https://www.solarspirits.com/), Richland | 7-9p Easy Day with Andromamine | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 9p Groove Principal | [SportsPage Bar](https://sportspagewa.com/), Kennewick | 8:30p **Art/Theater** Candlelight: Fleetwood Mac, Coldplay & Imagine Dragons Tribute | The REACH Museum Amphitheater, Richland | 4p **Sports** Spring Shot Clinic | Richland Riders Club, Richland | 2p NBC Camps Spring Break Hoops at CBC | [Columbia Basin College](https://www.columbiabasin.edu/), Pasco | 9a # 11 April **Events/Hangouts** Mark Hall Author Signing | [Adventures Underground](https://www.advunderground.com/), Richland | 12-2p Ava Christina Author Signing | [Adventures Underground](https://www.advunderground.com/), Richland | 2-4p PetSmart Adoptions | [PetSmart](https://www.popptricities.org/), Kennewick | 11a-3p POPP, 12-3p Pronto Puppy Rescue Tri Tiny Art -Tiny Bit of Info | [FrogPatch Paper & Works](http://www.frogpatchpaperworks.com/), Kennewick | 11a Craft Social (masks required) | CSA Building, Richland | 1p Meet the Author - A.L. Hampton - Signing Copies of Her Dark Paranormal Romantasy Series | [Barnes & Noble](https://stores.barnesandnoble.com/store/2879), Kennewick | 12p Plans and Prosecco with Wedding Coordinator Sydney Holland | [Be Light Studios](https://www.instagram.com/p/DUGIC0VjYOI/), Richland | 1p $100 deposit if services booked 2026 Season Kick off Show and Shine | [Tri-City Auto Labz](https://tricityautolabz.com/), Richland | 11a Texture Tour | [FrogPatch Paper & Works](http://www.frogpatchpaperworks.com/), Kennewick | 9:30a $65 G&S TCG Show IV | The Lodge at Columbia Point, Richland | 10a $500 closest to the pin contest hosted by Ugly Golf Co. | [Paper Street Brewing Co](https://www.paperstreetbrewingco.com/), Pasco | 4p "Second Saturday" Public Tour | [LIGO Hanford Observatory](https://www.ligo.caltech.edu/WA/page/lho-public-tours), Richland | 9:30a Salsa Social Dance Experience! | Desert Heat Restaurant, Pasco | 10p **Classes/Workshops** WSHFC Homebuyer Workshop | New American Funding, Kennewick | 10a Paint-YOUR-Pet Paint & Sip! (April) | [Art YOUR Way](https://www.artyourway.org/), Pasco | 6-9p $75 Elements a painting technique class with Amanda Fields | [Alley Kat Artisans](https://www.alleykatartisans.com/), Kennewick | 2p $39 Positive Intelligence Part 2 With Joe Montgomery, PhD | [The Divine Fellowship](https://thedivinefellowship.com/), Richland | 10a Plant Partners: Science Based Companion Planting Strategies for the Vegetable Garden | [WSU Master Gardener's Demonstration Garden](https://extension.wsu.edu/benton-franklin/mastergardeners/our-programs/demogarden/), Kennewick | 10:30a Nature Journaling with Local Artist Kathy Criddle – Amon Basin Preserve | [Amon Basin Natural Preserve](https://www.cbwnps.org/), Richland | 10:30a Claybell Park Parking Lot Olive Oil Uncovered: A Mediterranean Focaccia Baking Class (With Wine) | [Market Vineyards](https://www.marketvineyards.com/), Richland | 2p $125 Hands-on Indian Cooking Class - Biriyani! | [Red Mountain Kitchen](http://www.redmountainkitchen.com/), Kennewick | 10a $175 I-Mac Backpacking School | [Columbia Basin College](https://www.columbiabasin.edu/), Pasco | 9a Build Your Own Birdhouse – 2nd Annual Kids Event | [Tri-City Lumber](https://tricitylumber.com/), Kennewick | 10a-1p Food trucks and vendors to help with the fun **Music/Comedy** Michael Kelly Band | [Tranche](https://www.tranche.wine/), Walla Walla | 5-8p Chuck & The Wagoneers | Kennewick Eagles 2485, Kennewick | 6p Rachel Montgomery | [3 Eyed Fish](https://www.3eyedfishwinebar.com/), Richland | 7-9p Rick Phillips | [Henry Earl Estate Wines](https://mercerwine.com/), Walla Walla | 6-8p Liam Ross | [Solar Spirits](https://www.solarspirits.com/), Richland | 7p Tribute to Mary Lou | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 5:30p Gabriel Knutzen | [Tucannon Cellars](https://tucannoncellars.com/), Benton City | 1-4p The Moops  | [At Michele’s](https://atmicheles.com/), Richland | 7p Camerata Musica presents Ensemble Schumann | [Kennewick First Presbyterian Church](https://kfpc.org/), Kennewick | 7:30p Stomping Ground | [Whiskey River Bar & Grill](https://whiskeyriverbarrichland.com/), Richland | 8p Groove Principal | [SportsPage Bar](https://sportspagewa.com/), Kennewick | 8:30p Bottled Boogie | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 9p The Dope Show | Rays Golden Lion, Richland | 4:20p Tierra Cali y Mas | [Remix Night Club at Tropicana ](https://www.facebook.com/latropicanapasco), Pasco | 8p $50 La Cueva Del Oso Vaquero | [Azucar at Out and About,Remix Night Club at Tropicana ](https://www.cluboutandabout.com/,https://www.facebook.com/latropicanapasco), Pasco | 9p Yelawolf | [Toyota Center](https://yourtoyotacenter.com/), Kennewick | 7:30p **Art/Theater** Lights, Camera, Action: A Scouting Celebration of America's 250th | [Princess Theatre](https://www.prosserprincess.com/), Prosser | 4:30p Mid-Columbia Musical Theatre Children's Book Revue | Richland Public Library, Richland | 2-3p **Sports** Scottish Highland Games Practice/Introduction | [Dragon's Gate Brewery](https://www.dragonsgatebrewery.com/), Milton-Freewater | 1p April Schooling Show 2026 | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 8a 57th Running of the Bonney’s TYM Tractors APPLE CUP presented by Legends Casino | [Tri-City Raceway RMEC](https://www.tricityraceway.com/#/), West Richland | 12p **Restaurants/Bars/Wineries** Pink & White Bash: 2025 Rosé of Mourvèdre Debut | [Tucannon Cellars](https://tucannoncellars.com/), Benton City | 12-5p **Markets** Spring Pop Up Market | Summers Hub of Pasco, Pasco | 11a Spring Vibes Market - Sip & Shop | [SpringHill Suites by Marriott](https://www.marriott.com/en-us/hotels/kwcsh-springhill-suites-kennewick-tri-cities/overview/), Kennewick | 10a **Markets** Spring Pop Up Market | Summers Hub of Pasco, Pasco | 11a Spring Vibes Market - Sip & Shop | [SpringHill Suites by Marriott](https://www.marriott.com/en-us/hotels/kwcsh-springhill-suites-kennewick-tri-cities/overview/), Kennewick | 10a # 12 April **Events/Hangouts** FCSC Vaccination Clinic | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 10a SAFE Social 🌈 | CSA Building, Richland | 12p Events are pulled from tri-cityvibe.com, visittri-cities.com and allevents.com Post any events you'd like to signal boost in the comments!

https://preview.redd.it/petbr0bxlzsg1.png?width=1600&format=png&auto=webp&s=131a672615fb5dafb1e822f6e7fabac5952f2a01 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 3, 2026 For homeowners planning to sell this year, the timing of when they list could make a measurable difference in how much cash they walk away with at closing. Two new analyses from [Realtor.com](http://Realtor.com) and Zillow show that the spring housing market continues to be the best time for sellers. This is the season when buyer demand rises and competition can push prices higher. However, the exact timing may differ based on your location and how exactly you define success. Each real estate portal provided different predictions. Here’s what sellers need to know as they eye the upcoming calendar. # Realtor.com: Mid-April offers the “goldilocks” window [Realtor.com](http://Realtor.com) predicts the week of April 12–18 will be the optimal time to list a home this year, according to a [recent report](https://www.realtor.com/research/best-time-to-sell-2026/). That could lead to a national median listing price approximately $5,300 above the yearly average and about $26,000 higher than at the beginning of the year, according to Realtor.com. The timing reflects what researchers call a “Goldilocks” moment in the housing market. This is when buyer demand is strong, competition among sellers remains relatively limited, and homes typically sell quickly. Historically, homes listed during this mid-April period receive 16.7% more views on [Realtor.com](http://Realtor.com) than the average week of the year. They also sell about 17% faster, roughly nine days sooner than usual. “After years of being squeezed by limited inventory and high rates, the 2026 housing market is starting to feel more approachable for those who have been sidelined,” said Danielle Hale, chief economist at Realtor.com. “This shift doesn’t just mean more options. Lower rates and tempered price growth should give buyers’ some budget breathing room.” Homes listed during this period also tend to experience fewer price cuts, with approximately 18.9% fewer listings reducing their prices compared to the annual average.  # Zillow: Late May brings the highest sale prices While [Realtor.com](http://Realtor.com) identifies mid-April as the best time to list, [Zillow’s research](https://www.zillow.com/research/best-time-to-list-2026-36162/) shows that homeowners who listed in the last two weeks of May achieved the highest sale prices. Based on an analysis of 2025 home sales in the nation’s 35 largest metro areas, Zillow found that homes listed in late May sold for 1.7% more nationally, or about $6,000 more on a typical home. The reason is largely seasonal: buyer demand usually peaks just before summer begins. Families frequently aim to purchase homes in late spring so they can move during the summer months and settle in before the new school year begins. “Late spring is when motivation and momentum meet,” Kara Ng, senior economist at Zillow said in a statement. “Buyers are eager to move before summer vacations and the new school year, and sellers who hit the market at that time can benefit from increased competition.” # The best timing to put a home up for sale can vary by city https://preview.redd.it/8l30zow2mzsg1.png?width=1125&format=png&auto=webp&s=ab43762b584aff1ec10b2dea10bc54fca74e629e Although national data points to late spring as the ideal selling window, Zillow’s research found that the optimal listing period varies widely by location. In some high-priced markets, timing can unlock tens of thousands of dollars in added value. Sellers in Silicon Valley’s San Jose, Calif., for instance, saw the biggest benefit by listing early in the year. Homes listed during the first two weeks of February sold for about 3.1% more. That added up to roughly $53,800 extra on a typical home. In Boston, Mass., however, the best timing aligned with the national trend. Sellers who listed in the last two weeks of May earned about 3.4% more, or roughly $25,300 on average. Meanwhile, Texas markets tended to peak earlier in the spring. Sellers in Dallas, Houston, and San Antonio achieved their best results by listing in the last two weeks of April. In Austin, the optimal period was even earlier, during the final two weeks of March. In a nutshell: Sellers aiming to maximize their return should remember that the best strategy is to analyze current conditions in their specific area, considering housing inventory, price trends, and days on market. They can work with a local real estate agent who can identify the ideal time to list based on neighborhood-level demand. # Mortgage rates still shape housing demand Even with strong seasonal patterns, broader economic factors, especially mortgage rates, still impact the housing market. When borrowing costs decrease, more buyers tend to reenter the market. That can boost competition…and prices. Meanwhile, when rates rise, some potential buyers pause their search. Mortgage rates have hovered in the [low-6% range](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-rise-but-remain-lower-than-last-spring/) in early 2026, which could help bring more buyers back into the market this spring. That renewed demand is expected to coincide with the traditional seasonal surge in home shopping. Taken together, the two reports reinforce the same message: spring is still the most powerful selling season in real estate. Whether homeowners list in mid-April or late May, selling during the peak spring period may help attract more buyers and potentially increase the final sale price. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/blmojd1alzsg1.png?width=1600&format=png&auto=webp&s=e8ee0ff62aee1540fa43bfd39f28558616b77af8 By [Meera Pal](https://www.newamericanfunding.com/learning-center/authors/meera-pal/) April 3, 2026 Saving for a [down payment](https://www.newamericanfunding.com/learning-center/homebuyers/saving-for-a-down-payment-is-getting-easierand-help-is-available/) on a home is [often cited](https://www.nar.realtor/blogs/economists-outlook/down-payments-and-their-critical-role-in-the-home-financing-process) as one of the top obstacles for first-time buyers. A tax refund can help you get there faster, if you know how to maximize it. That’s where your tax refund comes in. With the [average tax refund](https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-feb-6-2026) running around $2,290 this filing season, that refund could be the seed of a down payment. The typical down payment for first-time homebuyers was 10% in 2025, according to the [National Association of Realtors](https://www.nar.realtor/blogs/economists-outlook/top-10-takeaways-from-nars-2025-profile-of-home-buyers-and-sellers). However, buyers using certain government-backed loans may be able to put down just 3.5%—or nothing at all. If you qualify for [down payment assistance](https://www.newamericanfunding.com/loan-types/conventional-loan/down-payment-assistance-for-conventional-loans/), you may even be able to get help covering the down payment and closing costs. “The amount you need to put down is smaller than most people realize,” said Brennan Kolar, founder of [Atlas CPA Index](https://www.atlascpaindex.com/) for accountants. “Two years of refunds and even modest monthly savings can cover a full FHA (Federal Housing Administration) down payment on a starter home.” Here’s what first-time buyers should know about turning a tax refund into a down payment. # What to do with your tax refund if you hope to buy a home Getting a tax refund is the easy part. Knowing what to do with it is where most people go wrong. When you’re saving for a home, where you keep your money matters almost as much as how much you save. A high-yield savings account (HYSA) is one of the smartest places to put your refund. It keeps the funds accessible and may earn significantly more than a traditional checking or savings account. If you’re parking your money in a reputable company with FDIC insurance to protect up to $250,000 per depositor, your money is considered relatively safe. Short-term Certificates of Deposit (CDs) that earn interest are another option if you don’t plan to buy a home immediately. These are often offered by financial institutions. You may want to avoid investing in anything risky, like the stock market or cryptocurrency, if you’re planning to enter the housing market within a year or so. You may be able to earn higher returns with these investments but could also lose money if the market turns or the currency drops. Keep in mind that lenders want to see that money sitting in your account for at least 60 days before you apply for a home loan. So, deposit the refund immediately, and let it sit. # Low down payment loans for homes are often available https://preview.redd.it/lcx0dicelzsg1.png?width=1125&format=png&auto=webp&s=a7e72943600d0ce5b78fb0b571584d4e3cb95b25 The typical homebuyer doesn’t put 20% down to buy a home. The minimum down payment depends on the loan type. And for many buyers, it may be lower than they realize. That’s where a tax return can really help. Buyers using a [Federal Housing Administration (FHA) loan](https://www.newamericanfunding.com/loan-types/fha-loan/) may be able to put down as little as 3.5% of the purchase price if they have a credit score of 580 or higher. [U.S. Department of Veterans Affairs (VA) loans](https://www.newamericanfunding.com/loan-types/va-loan/) and [U.S. Department of Agriculture (USDA) loans](https://www.newamericanfunding.com/loan-types/usda-loan/) don’t require down payments. If you’re a veteran or active-duty service member, a VA loan offers zero down payment with no private mortgage insurance. This is why the VA loan is considered one of the best mortgages available for those who qualify. USDA loans are also no down payment loans, designed for buyers in eligible suburban and rural areas who meet income requirements. Many buyers don’t realize they live in a USDA-eligible zone, or that they fall well within the income limits. “Many people underestimate the USDA loan program, yet I have seen it successfully help buyers purchase homes in small towns and suburban areas with zero down payment,” said [real estate investor Shawn Zar](https://sell-my-house-fast.com/). So, you can absolutely use a tax return for a down payment. And with an FHA loan down payment starting at 3.5%, your refund could cover a significant chunk of what you need. # Down payment assistance and how it works for homebuyers There may also be money available to help first-time and other homebuyers with their down payments. Most just don’t know about it. [Down payment assistance (DPA) programs](https://www.newamericanfunding.com/learning-center/guides/down-payment-assistance-programs-the-underused-solution-to-one-of-the-most-common-barriers-of-homeownership/) offer a variety of grants, forgivable loans, and deferred payment loans to help buyers cover upfront costs of purchasing homes. The specifics typically depend on the program. Grants require no repayment at all. Forgivable loans disappear after you’ve lived in the home for a set period, typically five to 10 years. Deferred loans charge zero interest until you sell, refinance the loan, or move. Programs vary by location and often have income limits. Many buyers may be surprised that they qualify and may be able to combine their tax refund with a DPA program. “Stacking the two together can cover the down payment and a chunk of closing costs on an average purchase,” said Kolar. The average down payment on a home doesn’t have to come entirely out of your own pocket. Between low down payment loans, assistance programs, and a well-placed tax refund, homeownership may be closer than you think. # What not to do with your tax refund if you’re buying a home https://preview.redd.it/5h4pc9xglzsg1.png?width=1125&format=png&auto=webp&s=dedebb5e1badbd500dde3369e1fa6e4cd2feb8be Once you receive your tax refund, it becomes part of your financial picture. Any large, unexplained purchase or sudden dip in your account balance can raise red flags when you apply for a home loan. “Aspiring homeowners should avoid using their tax refund to acquire new debt, purchasing big ticket luxury items, and reducing all credit down to zero while not having any type of savings,” said Sherman Standberry, CPA and CEO of [My CPA Coach](https://mycpacoach.com/). Chicago real estate broker Mike Opyd, of REMAX Premier, recalled a home purchase that almost fell apart a week before the closing. The co-signer used part of the tax refund to buy a $75,000 car. The transaction only survived because the co-signer liquidated investments to cover the gap. The takeaway: once you’re in the homebuying process, treat your refund like it’s already spoken for, because in many ways, it is. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/ti1hyixohtsg1.png?width=1600&format=png&auto=webp&s=bca909d1f4863235feef14b418c0dd1784a7b46f By [Ben Lane](https://www.newamericanfunding.com/learning-center/authors/ben-lane/) April 2, 2026 Homebuyers and homeowners hoping for some good news on the [mortgage interest rate](https://www.newamericanfunding.com/mortgage-rates/) front are likely to be a bit disappointed, as rates rose for the fourth week in a row. The increase is due to the ongoing conflict in Iran. But there are still opportunities to save money if you know where to look. Rates averaged 6.46% for 30-year, fixed-rate loans in the week ending April 2, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That was up from 6.38% in the previous week, but down from 6.64% at this time last year. Despite the increase in rates, [homebuyers](https://www.newamericanfunding.com/buy-a-home/) seeking affordability this spring are [already capitalizing](https://www.newamericanfunding.com/learning-center/housing-news/more-homes-are-going-up-for-sale-in-these-markets.-how-buyers-can-use-that-to-their-advantage?/utm_source=retention&utm_medium=email&utm_content=article&utm_campaign=Mar31&utm_term=default) on market conditions. Nationally, home list prices are falling. In March, they ticked down 2.2% year-over-year to a median $415,450 in March, according to [Realtor.com data](https://www.realtor.com/research). Additionally, the number of homes for sale is rising, up 8.1% annually in March, according to Realtor.com. That’s leading to some home sellers cutting their listing prices. This presents buyers with an opportunity to save money on a home even as rates tick up, whether it’s through a reduced sales price, increased seller concessions, or even a mortgage rate buydown. Another way that buyers can conserve dollars is by being thorough in their search for the right lender, as some lenders may offer lower rates than others. “With spring homebuying season in full swing, aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes,” said Sam Khater, Freddie Mac’s Chief Economist, in a statement. That advice applies to homeowners too, especially those who bought their home when mortgage rates were near 8%. They may be able to find a lower rate than they have now and save money by [refinancing](https://www.newamericanfunding.com/refinance/). [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/o6rv4ldxmssg1.png?width=1600&format=png&auto=webp&s=28dce469c386921224f363be09ac8786a212d957 By [Sarah Elizabeth Adler](https://www.newamericanfunding.com/learning-center/authors/sarah-elizabeth-adler/) April 2, 2026 One of the biggest myths about reverse mortgages is that they rob adult children of their inheritance. The reality? Heirs absolutely do inherit homes with reverse mortgages. Whether they want to live in the family home or sell the property to fund their own home purchase, heirs may not be aware of their inheritance options if their parents took out a [reverse mortgage](https://www.newamericanfunding.com/loan-types/reverse-mortgage/). Reverse mortgages allow older homeowners to tap into the equity they have in their homes in the form of a loan that must be repaid when they move, sell the property, or pass away. “This is just a loan. It’s just a mortgage,” said [Larry Melton](https://www.newamericanfunding.com/mortgage-loans/larrymelton), a New American Funding area sales manager based in Portland, Ore. “\[A reverse mortgage\] is no different than any other financial tool.” Melton encourages families to have open conversations about reverse mortgages as part of their overall estate planning process and financial strategy. But even if heirs are caught off-guard, a [reverse mortgage](https://www.newamericanfunding.com/learning-center/videos/is-a-reverse-mortgage-right-for-you/) just changes how the property is handled after the homeowner passes away. It does not eliminate the ability to inherit a home. Heirs can pay off the balance and keep the property or sell it to pay off the loan and keep any remaining proceeds. # What is a reverse mortgage? A [reverse mortgage](https://www.newamericanfunding.com/learning-center/videos/what-is-a-reverse-mortgage/) is a loan available to homeowners 62 and older that allows them to convert a portion of their home equity into cash. Typically, homeowners need to own at least half of their home outright or not have a mortgage. The most common type is the federally insured Home Equity Conversion Mortgage (HECM), backed by the Federal Housing Administration (FHA). # How does a reverse mortgage work? Unlike a traditional mortgage, reverse mortgage borrowers don’t make monthly payments to the lender. Instead, the lender pays the homeowner either as a lump sum, monthly payments, or a line of credit. [Reverse mortgage payments](https://www.newamericanfunding.com/learning-center/homeowners/the-truth-about-reverse-mortgages-are-they-right-for-you/) are typically untaxed. The loan balance grows over time as interest and fees are added. # How do you pay back a reverse mortgage? https://preview.redd.it/66tagt0smssg1.png?width=1125&format=png&auto=webp&s=82ba36c94f18d12744a14ff81f661657fe2cb846 The loan typically becomes due when the homeowner dies, sells the home, or permanently moves out. Depending on the lender, heirs generally have several months, with possible extensions, to either pay back the loan or sell the home. # Can you inherit a home with a reverse mortgage? The short answer is yes. But heirs first need to settle the reverse mortgage balance. Depending on what family members want, paths forward include: # Pay off the reverse loan and keep the home Heirs who want to keep the property can pay off the full loan balance, or 95% of the home’s appraised value, whichever is less. That 95% rule matters if the housing market has declined and the loan balance exceeds what the home is worth. It can also help ease the burden on heirs. “It’s a way for families to be able to retain the property for a little bit of a discount, to not be responsible for that shortfall,” Melton said. To pay off the loan, heirs might use personal savings, refinance into a traditional mortgage, or obtain a new loan in their own name. Once the reverse mortgage is satisfied, the home is theirs to live in, rent out, or hold as an investment. # Heirs can sell homes with reverse mortgages and keep the remaining equity https://preview.redd.it/hkj4uwvtmssg1.png?width=1125&format=png&auto=webp&s=4d9ead258019d2c790ef5c391f090b09407e0986 Heirs can sell the home if they don’t want to keep it or can’t afford to pay off the balance from the reverse mortgage. In that case, the proceeds from the sale first go toward paying off the reverse loan balance. Any remaining equity belongs to the heirs as part of the estate. If the heirs do nothing, the lender will eventually foreclose on the property to recover the loan balance. This isn’t an ideal situation. Instead, heirs can also choose to deed the property to the lender, satisfying the loan obligation. # Understanding an inheritance with a reverse mortgage While a reverse mortgage can cause concern for adult children hoping to inherit a family home, families can still preserve the property. Melton urges families to have open conversations well in advance of the point at which the loan becomes due, particularly given the prevalence of common [misconceptions](https://www.newamericanfunding.com/learning-center/videos/reverse-mortgage-myths/) about reverse mortgages. “\[A reverse mortgage\] does amazing things, but it needs to be understood,” said Melton. “It needs to be part of the overall family plan.” *Larry Melton NMLS# 830225* [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/s7zgdldedlsg1.png?width=1600&format=png&auto=webp&s=43a8fcb630946ec5bebba13df68338d9ba09ec69 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) April 1, 2026 April is Fair Housing Month. This marks the anniversary of the Fair Housing Act, a federal law that helps ensure equal access to housing opportunities. For buyers, renters, landlords, and real estate professionals, fair housing laws impact how homes are marketed, sold, rented, and financed across the country. The core principle is simple: housing decisions should be based on objective factors like financial qualifications, creditworthiness, or rental history, not on certain personal characteristics protected by law. “Access to housing opportunity shouldn’t depend on who you know, where you come from, or how familiar you are with the system,” said New American Funding Senior Vice President of Growth and Expansion [Mosi Gatling](https://www.newamericanfunding.com/mortgage-loans/mosigatling). “When people have clear information, fair access to financing, and professionals committed to opening doors, homeownership becomes possible for more families,” she said. Learn more on the origins of fair housing laws, what they include, and how they influence real estate transactions. # The history of the Fair Housing Act The federal Fair Housing Act was enacted in 1968 as part of the Civil Rights Act. It was signed into law by President Lyndon B. Johnson. The law established nationwide rules to prevent discrimination in the sale, rental, and financing of housing. The law was later expanded through amendments in 1974 and 1988, which added more protected classes and strengthened enforcement provisions. Today, it’s mainly administered by the U.S. Department of Housing and Urban Development (HUD). While the law has evolved over time through court rulings and regulatory changes, the central goal has remained consistent: promoting fair and equal access to housing. # What the Fair Housing Act covers https://preview.redd.it/x9duwkwgdlsg1.png?width=1125&format=png&auto=webp&s=bd39bf7e5d7373d1afe85099a49aa8e2458ca25d The Fair Housing Act covers many aspects of housing transactions. Generally, it bans discrimination in activities like: * Selling or renting a home * Advertising housing * Setting terms or conditions for a sale or lease * Providing mortgage lending or other housing-related financing * Offering housing services or facilities The law broadly applies to the housing industry, including landlords, property managers, real estate agents, lenders, and developers. There are a few limited exemptions written into the law, such as certain small owner-occupied rental properties. # The seven federally protected fair housing classes Under federal law, the Fair Housing Act identifies seven protected classes. That means housing providers generally cannot make decisions based on these characteristics. Those federally protected categories are: * Race * Color * Religion * Sex * National origin * Disability * Familial status Familial status includes households with children under 18, pregnant individuals, or those in the process of gaining custody of a child. Disability protections cover both physical and mental impairments that significantly restrict major life activities. In practical terms, the law means that housing providers must evaluate applicants based on neutral criteria, such as income, credit, or rental history, rather than on personal characteristics protected by the statute. # Additional protections at the state and local level While the federal Fair Housing Act sets nationwide standards, many states and cities have adopted additional protections that expand on the federal categories. Common examples of additional protected classes in state or local housing laws may include: * Age * Marital status * Sexual orientation * Gender identity * Source of income (such as housing vouchers) * Military or veteran status * Ancestry or immigration status These protections vary widely depending on location. Some states add only a few categories, while others include broader lists. Because of these differences, housing professionals often consult state and local regulations to ensure they are complying with the appropriate rules in their area. # How fair housing rules affect real estate transactions https://preview.redd.it/n7tw9slidlsg1.png?width=1125&format=png&auto=webp&s=61e3ed54a4943a3e027ea7293bc0e0595b0ab067 For most consumers, fair housing laws appear in subtle but significant ways. For example, real estate advertising should highlight the property’s features, rather than imply that certain groups are preferred tenants or buyers. Similarly, agents and landlords usually rely on consistent application standards, such as credit scores, income requirements, or background checks, so that all applicants are judged by the same criteria. Real estate professionals receive fair housing training as part of their licensing requirements and continuing education. This helps to ensure that housing transactions are in compliance with the law. # What happens if fair housing discrimination occurs? If someone believes they have faced discrimination in housing, they can file a complaint with HUD or a state or local fair housing agency. Complaints generally must be filed within one year of the alleged incident. After submitting a complaint, investigators review the circumstances. This may include examining documents, interviewing witnesses, and assessing whether housing laws were followed. Some disputes are settled through mediation. Others might go through administrative hearings or court cases. *Mosi Gatling NMLS# 557166* [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/va234vq49esg1.png?width=1600&format=png&auto=webp&s=9e9e60af988ff488b2d5c6540380213634d1261b By [Greg Shillinglaw](https://www.newamericanfunding.com/learning-center/authors/greg-shillinglaw/) March 31, 2026 Lower [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) are opening the door for millions of homeowners to [refinance their home loans](https://www.newamericanfunding.com/refinance/). This may help homeowners lower their monthly payments and potentially eliminate mortgage insurance, especially if they have government-backed loans. “It’s causing a boom of borrowers asking how they can take advantage of a drop in their monthly payment,” said [Miguel Mouriz](https://www.newamericanfunding.com/mortgage-loans/miguelmouriz), vice president of sales for Florida and Puerto Rico at New American Funding. “There are definitely a lot of homeowners trying to save as much as they can.” For borrowers with [Federal Housing Administration (FHA)](https://www.newamericanfunding.com/loan-types/fha-loan/) or [U.S. Department of Agriculture (USDA) loans](https://www.newamericanfunding.com/loan-types/usda-loan/), the savings could be especially significant. Refinancing into a [Conventional loan](https://www.newamericanfunding.com/loan-types/conventional-loan/) could help them get rid of mortgage insurance that can otherwise stick around for years or even the life of the loan. So, what should homeowners with government loans consider? # What is a mortgage insurance premium? If you have an FHA or USDA loan, chances are you’re paying a [mortgage insurance premium](https://www.newamericanfunding.com/learning-%20center/homebuyers/understanding-mortgage-insurance-a-guide-for-homeowners/). This fee protects the lender if you stop making payments. But it’s often harder to eliminate than private mortgage insurance on Conventional loans. With an FHA loan, mortgage insurance includes two fees: an upfront charge equal to 1.75% of the loan amount, which most borrowers roll into their balance. There is also a monthly premium. If you put down less than 10%, the monthly premium typically remains for the life of the loan, unless you refinance into a new loan. If you put down 10% or more, it is required for 11 years before you may be able to have it removed. USDA loans work in a similar way. While the fees aren’t technically called mortgage insurance, they serve the same purpose. There is an upfront guarantee fee of 1% of the loan amount due at closing, which is often rolled into the loan. Additionally, there is annual fee of 0.35% of the remaining balance, paid monthly. With a Conventional loan, you can request your [loan servicer](https://www.newamericanfunding.com/learning-center/videos/what-is-mortgage-loan-servicing/) drop private mortgage insurance once you’ve built up 20% equity. (Your servicer is the company you send your mortgage payments to and who you contact in the case of an emergency. It can be your lender, but is often a separate company.) Mortgage insurance is required to be automatically removed once your Conventional loan balance reaches 78% of your home’s original value (about 22% equity), according to federal law. [Ready to Refinance?](https://www.newamericanfunding.com/df/home-loans-hau/) # How refinancing can help homeowners get rid of mortgage insurance https://preview.redd.it/ptuse3j89esg1.png?width=1125&format=png&auto=webp&s=04ca5a604dcd787e36ad3e81207d3a33f32347d5 Refinancing into a Conventional loan may help homeowners eliminate mortgage insurance as well as lower their interest rates. Homeowners with at least 20% equity in the property may avoid private mortgage insurance on the new loan. The equity can be a combination of property values rising as well as paying down the loan. Those with less equity could still benefit. Refinancing into a Conventional loan replaces permanent FHA mortgage insurance with [private mortgage insurance (PMI)](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/). The PMI may be removed once the homeowner reaches 20% equity. FHA loans don’t offer that option for borrowers who put down less than 10%. It may make sense for homeowners to refinance if they’re saving at least $150 a month, said Mouriz. “\[They can\] use those savings to pay toward the principal, make another investment or be more comfortable with their budget,” said Mouriz. USDA borrowers may also be able to refinance into a Conventional mortgage, which could eliminate the fees that come with USDA loans. However, homeowners need to make sure it makes financial sense for them to refinance, even if they will be saving money each month. # What to consider before refinancing your mortgage It’s important to know that [refinancing](https://www.newamericanfunding.com/refinance/) isn’t free. A new loan comes with closing costs, including an appraisal, lender, title, and other fees. Homeowners should also consider how long they plan to stay in the home. If the monthly savings from a lower rate and eliminating mortgage insurance outweigh the upfront costs, refinancing may make sense. But for those planning to move within a few years, the upfront costs might outweigh the savings. “When it’s time for refinancing, the most important thing is to put the homeowner in a better financial situation,” Mouriz said. “It’s a comparison of numbers. There is a cost to do business when you refinance. We want to make sure they are recapturing that money sooner rather than later and that we are not jeopardizing their equity.” *Miguel Mouriz NMLS # 283155* [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/s7o73t6x67sg1.png?width=1600&format=png&auto=webp&s=fef7b186f5dcf99b3bc86b65535ccf5ee08a6e93 By [Timothy Moore](https://www.newamericanfunding.com/learning-center/authors/timothy-moore/) March 30, 2026 When you’re on a tight budget, you need to be careful not to overextend yourself by buying more home than you can afford. Lenders often use the 28/36 mortgage rule to ensure you can [afford a home](https://www.newamericanfunding.com/calculators/). You can also use this rule to set your own budget before you begin home shopping. “The basic idea behind the mortgage qualification rule is that housing costs need to be under 28% of the gross income, while total debt needs to be under 36%,” said Sain Rhodes, a real estate expert at [Clever](https://listwithclever.com/), a national brokerage. But as [home prices](https://www.newamericanfunding.com/learning-center/housing-news/home-prices-are-falling-hitting-a-four-year-low/) remain high and wages remain stagnant, this is becoming difficult for many prospective buyers. Below, we’ll cover what the 28/36 rule is, why it matters when buying a home, and guidelines for [setting a realistic homebuying budget](https://www.newamericanfunding.com/learning-center/homebuyers/creating-a-budget-when-youre-saving-up-for-your-first-home/). # What is the 28/36 rule, and why does it matter? The 28/36 rule is a guideline lenders use to evaluate whether you can comfortably [afford a home](https://www.newamericanfunding.com/learning-center/homebuyers/home-affordability-how-to-overcome-financial-hurdles/). The two numbers refer to two separate thresholds: * Your monthly housing costs shouldn’t exceed **28%** of your gross monthly income. This is called the front-end ratio. * Your total monthly debt obligations shouldn’t exceed **36%** of your gross monthly income. This is called the back-end ratio or, more often, the [debt-to-income ratio (DTI)](https://www.newamericanfunding.com/learning-center/homebuyers/keeping-an-eye-on-your-dti-why-debt-to-income-ratios-matter-for-homebuyers/). Note: Your **gross monthly income** is what you are paid each month *before* any money is taken out of your paycheck for taxes, health insurance, or retirement contributions. The point of this rule is to ensure you don’t overextend yourself financially. If your [mortgage payment](https://www.newamericanfunding.com/learning-center/homebuyers/whats-really-in-your-monthly-mortgage-payment-breaking-down-the-costs/) and other debts take up too much of your income, there’s a higher risk you’ll fall behind on payments, which lenders (and you!) want to avoid. However, the 28/36 rule is not a hard-and-fast, legal requirement. It’s simply one way that lenders determine your eligibility. It’s also a tool you can use to make your own homebuying budget before applying for a [mortgage preapproval](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage/). Often, there is some wiggle room, especially if you have strong credit, substantial savings, or a large down payment. Some loan programs, including certain [Federal Housing Administration (FHA)](https://www.newamericanfunding.com/loan-types/fha-loan/), [U.S. Department of Veterans Affairs](https://www.newamericanfunding.com/loan-types/va-loan/), [U.S. Department of Agriculture](https://www.newamericanfunding.com/loan-types/usda-loan/), and [Conventional loans](https://www.newamericanfunding.com/loan-types/conventional-loan/), allow higher DTIs, instead of 36%. # All the housing costs in the front-end ratio (28%) https://preview.redd.it/tljjrbsr67sg1.png?width=1125&format=png&auto=webp&s=ad9b33d39420a652db5d4cda2c1805bbe0c787a4 The front-end ratio of the 28/36 rule specifically examines housing costs. When you purchase a home, your recurring housing expenses should account for no more than 28% of your income. Most of these expenses are built into one monthly mortgage payment, including: * The principal balance and interest accrued * [Property taxes](https://www.newamericanfunding.com/learning-center/homeowners/navigating-property-taxes-what-homeowners-need-to-know/) (paid into an escrow account) * Homeowners insurance (paid into an escrow account) * [Private mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/) (PMI), if applicable If you’re purchasing a home in a neighborhood with a [homeowners association (HOA)](https://www.newamericanfunding.com/learning-center/homebuyers/what-homebuyers-need-to-know-about-hoas/), you should account for HOA dues as well. This does not include utility, internet, home security, or other bills. # Debts that determine the back-end ratio (36%) The back-end ratio of the 28/36 rule looks at your total [debt-to-income ratio](https://www.newamericanfunding.com/learning-center/homebuyers/dti-and-what-it-means/). That means it includes your monthly housing expenses, but also your other recurring debts: * Housing expenses (the 28%) * Student loan payments * Car payments * Credit card minimum payments * Other installment loan payments (e.g., personal loans, medical payment plans, I.R.S. installment agreements) # What to do if the 28/36 rule restricts your budget https://preview.redd.it/loqzkgcu67sg1.png?width=1125&format=png&auto=webp&s=3d62932fc103e831a2d93514d46b37e4e369f2eb Given today’s home prices and mortgage rates, it can be challenging to find a home with a monthly payment that fits within the 28/36 guidelines. But that doesn’t mean you’re out of options. # Get creative with your income when buying a home For starters, your income isn’t *only* traditional wages from an employer. Think about all the ways you make money, including government benefits and revenue from a side hustle. “I’ve had many self-employed, contract, and gig economy workers \[as clients\],” said Rhodes. “I’ve even had a rideshare driver document 18 months of income to obtain a mortgage approval.” In some cases, however, lenders may not consider that income for a Conventional loan. And if contract work (1099) is your *only* source of income, you may need a [non-conforming mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/understanding-conforming-loans-versus-non-conforming-loansand-why-homebuyers-should-care/) (with a higher rate) instead. # Reduce your debts when you’re looking for a home Another option if your budget is limited by the 28/36 mortgage rule is to reduce your monthly debt obligations. Try to wipe out high-interest credit card debt, pay down your auto loan, or consolidate or refinance multiple student loans into one loan with a lower monthly payment. # Reduce housing expenses Your third and final option: Lower your monthly housing costs, *without* forcing yourself to buy a lower-priced home. You can do this by: * Shopping in neighborhoods with lower property taxes * Saving for a large enough [down payment](https://www.newamericanfunding.com/learning-center/homebuyers/down-payments-what-you-should-know/) to avoid PMI * Shopping around to get the best rates on home insurance (try bundling with your car insurance for a discount) * Trying to [increase your credit score](https://www.newamericanfunding.com/learning-center/homebuyers/tips-to-boost-your-credit-score-before-buying-a-home/) and paying down your debt to become eligible for lower mortgage interest rates # Set your own home budget The 28/36 rule is helpful when calculating your budget, but it’s still only numbers on paper. Just because the calculation says you can afford a higher-cost home doesn’t mean you have to spend that much. Take the time to assess your overall situation and answer the following questions: * Do I have an established emergency fund? * Will I be able to save for retirement if I buy a more expensive home? * How stable is my job? * Is there wiggle room in my budget for higher utility bills (especially for larger or [older homes](https://www.newamericanfunding.com/learning-center/homebuyers/timeless-or-troublesome-what-you-need-to-know-before-buying-a-historic-home/)) and maintenance and home repairs (especially for [fixer-uppers](https://www.newamericanfunding.com/learning-center/homebuyers/fixer-uppers-affordable-dream-homes-or-expensive-money-pits/))? Depending on your answers to those and similar questions, it could make sense to spend even less than the 28/36 rule (or your [mortgage preapproval letter](https://www.newamericanfunding.com/learning-center/homebuyers/a-competitive-edge-why-you-need-a-pre-approval-letter-in-a-hot-housing-market/)) says you can afford. “I had a client who was approved for a $480,000 home but decided to purchase a $380,000 home to ensure her emergency savings remained robust and her children’s college plans remained flexible,” said Rhodes. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

Hi everyone, I was an LO from 2018-2023 in retail, then became an LOA for a broker. I decided I hate the broker model, it’s so much to keep track of and exhausting for me. I much prefer the retail model where things seem to flow better. I am wondering what it would be like to be a remote consumer direct LO for a company like New American Funding. Is it awful? I make about $65,000-$70,000/year right now between salary/per file pay. I would love to make more, however I am just not good at going out and getting business from realtors, etc. But I know mortgages well and love them, borrowers seem to like and trust me. I am hoping there is a consumer direct model that is more flexible than sitting at a desk in basically an at home call center. I have to get my kids from daycare at 5 so need to be done working for the day at 4:30. My job right now is super flexible. Anyone have experience with this and know if what I’m looking for exists? Thanks guys!!

https://preview.redd.it/oqc45pfiolrg1.png?width=1600&format=png&auto=webp&s=c6f60a89128db62b19afad47b236dbeaacd23c67 By [Don Sadler](https://www.newamericanfunding.com/learning-center/authors/don-sadler/) March 27, 2026 Over time, four-bedroom houses that once bustled with large families may sit half-empty, filled with unused rooms and yards that feel more like chores than outdoor sanctuaries.  For homeowners eyeing smaller, more manageable properties, the appeal isn’t just about less maintenance. It’s also about saving money on mortgages, utilities, taxes, and upkeep. So, it’s not too surprising that many homeowners are wrestling with whether downsizing makes sense for their situations. “Most of my clients who are considering downsizing are retired, nearing retirement, or empty nesters,” said Melody Parker, a Realtor with Keller Williams Realty Atlanta Partners. “Some clients have decided that they just don’t need all the extra space, so they can save some money by buying a smaller home.” Here’s what homeowners should think carefully about if they’re considering downsizing. # Should you downsize your home? There are lots of factors to consider when it comes to downsizing your home. Some of these are practical, like how much money you could save, how much square footage you need to be comfortable, and if you would prefer to live in a one-story home. Some considerations are more emotional. “Doubt, hope, stress, fear, excitement, confusion and relief are a few of the emotions that homeowners feel when faced with downsizing,” said Parker. For example, there’s bound to be some uncertainty about downsizing if you’ve been living in your home for many years. At the same time, you could feel relief from not having to deal with so much upkeep. Parker urges homeowners to carefully weigh the pros and cons of downsizing before jumping in. “Do the potential benefits of saving money and spending less time on home maintenance and upkeep outweigh the possible drawbacks, like not having as much room for children and grandchildren to come visit?” she said. # Signs it’s time to downsize your home https://preview.redd.it/z7vm0n7lolrg1.png?width=1125&format=png&auto=webp&s=789704348476a51e9e846bcc0722ed494125993e So, what are a few common signs that it’s time to downsize your home? The most obvious is that you’re not using all the square footage under your roof. Maybe there are bedrooms that go unused or perhaps you’ve got a finished basement you hardly spend time in. Another sign it’s time to downsize your home might be that you’re spending more money than you want to on home maintenance, upkeep, and repairs. Generally speaking, the bigger the home, the more opportunities there are for things to break down or wear out and need fixing or replacing. Plus, you may be spending more to heat and cool the home. Meanwhile, many seniors find that the home they’ve enjoyed living in for many years simply isn’t practical anymore. Stairs might make it difficult and potentially dangerous to access the upstairs area, a steep driveway could present a fall risk, or lawncare and snow shoveling may have become physically challenging. About 94% of adults aged 60 and up say that aging in place is an important goal for them, according to a survey conducted by [U.S. News & World Report](https://www.usnews.com/360-reviews/services/senior-tech-aging-in-place-survey). “Downsizing into a smaller home without some of these obstacles could make it easier for seniors to age in place,” said Parker. # The financial implications of downsizing Saving money is one of the main reasons many people choose to downsize their home. But there are a lot of factors that can impact the financial equation, starting with the closing costs paid on the new home and expenses associated with moving. Plus, home prices have risen over the years. And if you locked in a low interest rate on your mortgage, the rate on your new home could be higher. These factors could increase your mortgage payment. “For some homeowners, downsizing ends up costing about the same as if they had stayed in their original home,” said Parker. # Tips for downsizing your home https://preview.redd.it/y6gntqymolrg1.png?width=1125&format=png&auto=webp&s=f70cfad4c09dbf140cdb98a218fac8561b7f7347 Here are a few tips for how to downsize your home: * **Figure out how much space you really need.** Be realistic about your lifestyle and plans. If your children and grandchildren visit often, you may still need an extra bedroom or two and a large kitchen for preparing meals. * **Take inventory of your belongings.** You may need to do some serious purging before downsizing. Decide which belongings you need and which you don’t. Then devise a plan for selling or donating before your move. * **Update your budget.** Once you have a good idea of your new mortgage payment, insurance, property taxes, and utilities, adjust your budget to reflect the new numbers. If there’s a savings, decide how to best allocate the funds. * **Start getting emotionally prepared.** The physical and financial preparations are one thing, but dealing with the emotional aspects of downsizing your home might be even harder. Give yourself some time to process the change and prepare for the lifestyle adjustment. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/hzkincly3frg1.png?width=1600&format=png&auto=webp&s=99e82fa9582665474dd2641062912f8334516702 By [Ben Lane](https://www.newamericanfunding.com/learning-center/authors/ben-lane/) March 26, 2026 [Mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) continued to trend upward in the last week, due to the ongoing conflict in Iran. However, rates remain lower than they were at this point last year. Rates averaged 6.38% for 30-year, fixed-rate loans in the week ending March 26, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That was up from 6.22% in the previous week, but down from 6.65% at this time last year. Despite the recent uptick in rates, homebuyers and homeowners have not been entirely deterred from seeking a new home or a refinance of their existing loan. “The housing market continues to show gradual improvements compared to a year ago amid recent rate volatility,” said Freddie Mac’s Chief Economist Sam Khater in a statement. “Purchase and refinance applications are up year-over-year.” Refinance mortgage applications are running 52% higher than they were last year, while purchase applications were up 5% year-over-year in the week ending March 20, according to the [latest data](https://www.mba.org/news-and-research/newsroom/news/2026/03/25/mortgage-applications-decrease-in-latest-mba-weekly-survey) from the Mortgage Bankers Association. Even small decreases in rates may add up to big savings over time for homeowners who refinance their loans. However, this volatility in rates will likely remain the status quo as long as the current geopolitical events continue. “If the conflict remains limited and energy prices stabilize, we could see rates settle back down toward 6%,” said Bright MLS Chief Economist Lisa Sturtevant in a statement. The multiple listing service covers the mid-Atlantic region. “However, for now, the rebounding spring homebuying season many had been hoping for is being tempered by these external pressures, leading to a more limited and uncertain market environment,” Sturtevant added. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/vewtoflolerg1.png?width=1600&format=png&auto=webp&s=b7b4700236713c47fbc2d3c307c27d7e1e02adb7 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 26, 2026 After years of fierce competition over a scarce housing supply, homebuyers might finally see the market turn slightly in their favor. Across much of the country, more homes have been going up for sale, especially in some housing markets. That gives buyers in these areas both more options and potentially more negotiating power as the spring housing season gets underway, according to [Realtor.com](https://www.realtor.com/research/February-2026-data/). In fact, the listings portal’s data shows that the number of homes for sale nationally has been rising for more than two years. And in several major metro areas, housing stock is growing especially quickly. Additionally, the national median list price was $403,450 in February, a 2.1% decrease from the previous year, according to Realtor.com’s data. That gives buyers a little bit of a break. “In general, the housing market is moving in a more buyer-friendly direction,” said [Realtor.com](http://Realtor.com) Senior Economist Jake Krimmel. “\[This\] means inventory is building with homes sitting longer, more chances of a price cut, and a greater opportunity to negotiate on price than in years past.” # What rising housing stock means for buyers For buyers entering the spring housing market, the rise in listings could bring several advantages. More homes on the market generally mean more choices, less urgency to make an offer immediately, and a better chance to negotiate on price or terms. While the housing market hasn’t fully shifted to a buyer’s market everywhere, the increase in housing supply is a significant step toward creating a more balanced environment after years of severe supply shortages. “But each metro area is different, with some moving more buyer-friendly and somewhere sellers might still hold an upper hand,” said Krimmel. “Check the data on inventory growth, price trends (including cuts), time on market, etc.” # 5 housing markets where the number of homes for sale is rising the fastest Below are five of the 50 largest metropolitan areas where housing stock in February increased the most year-over-year, according to [Realtor.com](http://Realtor.com) data. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.) https://preview.redd.it/va9bkzjrlerg1.png?width=1125&format=png&auto=webp&s=27bc7cccaf3308895cb112316170b59c2c840bfc **1. Seattle** **Housing stock change:** **+38.5%** Seattle leads the nation in housing stock growth among major metro areas, with the number of homes for sale increasing nearly 40% compared to a year ago. Much of this spike is driven by new listings entering the market. In fact, new listings in the Seattle metro jumped 20.3% year-over-year, indicating that more sellers are finally listing their homes. **2. Louisville, Ky.** **Housing stock change:** **+27.3%** Louisville, about an hour-and-a-half southwest of Cincinnati on the Kentucky-Indiana border, has experienced one of the biggest increases in housing supply in the Midwest. A surge in new listings has increased the number of homes available to buyers, giving them more leverage. **3. San Jose, Calif.** **Housing stock change:** **+24.8%** Even in one of the most expensive housing markets in the country, housing inventory is increasing. Listings in the San Jose metro area have risen nearly 25% from a year ago, giving buyers in Silicon Valley more chances to enter the market. **4. Indianapolis** **Housing stock change:** **+24.8%** The number of homes for sale in the Indianapolis metro area has also grown significantly, Markets like Indianapolis are often appealing to buyers as the prices remain more affordable than many larger coastal cities. **5. Charlotte, N.C.** **Housing stock change:** **+24.6%** Charlotte rounds out the list with housing stock climbing nearly 25% year-over-year. As in Seattle, the increase is being driven in part by a rise in newly listed homes, up 11.4% year-over-year. That suggests more sellers are entering the market rather than simply unsold homes piling up. # Mortgage rates and preparation matter Buyers may also want to pay close attention to mortgage rates as the spring season unfolds. Small changes can affect the size of monthly housing payments. Getting [preapproved](https://www.newamericanfunding.com/learning-center/homebuyers/how-to-get-pre-approved-for-a-mortgage/) for a mortgage before starting the home search can also give buyers an advantage. Preapproval clarifies how much a buyer can borrow and shows sellers that an offer is serious. Buyers who come prepared may find more room to negotiate than they’ve seen in several years.   [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/c18fkczsb7rg1.png?width=1600&format=png&auto=webp&s=8b52e73a4dcdac1da6b62a459c77adff34996f14 By [Angela Colley](https://www.newamericanfunding.com/learning-center/authors/angela-colley/) March 25, 2026 Over the past few years, homebuyers have been navigating one of the most expensive housing markets in decades. Mortgage rates in the 6% and 7% range have led some buyers to turn to [adjustable-rate mortgages](https://www.newamericanfunding.com/loan-types/arm-mortgages/) (ARMs). These loans generally [offer lower interest rates](https://www.newamericanfunding.com/learning-center/homebuyers/how-much-can-homebuyers-save-with-an-adjustable-rate-mortgage-it-could-be-a-lot/) than fixed-rate loans for the first years of the mortgage. That results in smaller monthly payments and some initial, short-term [financial relief](https://www.newamericanfunding.com/learning-center/homebuyers/hoping-to-save-money-during-the-first-years-of-your-mortgage-an-adjustable-rate-mortgage-or-buydown-loan-may-be-right-for-you/). But those lower payments come with an important caveat. Once the introductory period ends, interest rates can rise to a certain cap or fall depending on current market conditions. Those interest rate caps are key. There are annual caps, which limit how much your interest rate can increase in a year, as well as lifetime maximums. These lifetime caps prevent your rate from spiking, and keep your monthly mortgage payments in check, even if rates steadily climb. While ARMs can be valuable tools, it’s important to understand how rate caps work and how they could affect your monthly payments so you can avoid any unpleasant (and potentially costly) surprises. # Why ARMs are back The appeal of an ARM is straightforward. The initial interest rate is usually lower than the rate on a traditional 30-year fixed mortgage, where the principal and interest portion of your payment is fixed throughout the life of the loan. That difference in interest rates for an ARM can reduce the monthly payment for the first few years of your loan. These loans made up 8% of all mortgage applications in the week ending Nov. 21, according to the [Mortgage Bankers Association](https://www.mba.org/news-and-research/newsroom/news/2026/03/18/mortgage-applications-decrease-in-latest-mba-weekly-survey). “They can let people secure a lower rate for at least a little while,” said Adam Hamilton, co-founder of [REI Hub](https://www.reihub.net/), an accounting software company. “But once that temporary period is over, your rate is at the mercy of the market.” Most ARMs follow a format, such as 5/1 or 7/6. The first number is how long the fixed-rate period will last. In these cases, it’s five years or seven years. The second number is how often the rate will reset after that first period, typically either every year or every six months, based on an index plus a margin set by the lender. That’s why caps are crucial. They limit how high interest rates can go when your rate adjusts as well as over the life of your loan. Most ARMs also have an interest rate floor. This is how low rates can fall. So, even if rates are lower in the current market, the interest rate on your loan cannot go below that floor. For buyers expecting their incomes to rise or who are planning to move before the rate resets, that structure can work well. But if rates go up, their monthly payments could rise. “Most buyers don’t have a plan for what happens when the introductory period ends,” said Palm Harbor, Fla.-based estate agent [Brandon Rimes](https://kw.com/agent/brandon%20&%20lindsay-rimes/620837) of Keller Williams Realty. “They treat it like a fixed-rate loan and hope rates stay low, which is a gamble.” # Interest rate caps limit how high interest rates can rise https://preview.redd.it/k8q5xmnvb7rg1.png?width=1125&format=png&auto=webp&s=a767cc3cb1931537e85e261d659e360523e83b71 To prevent dramatic spikes in borrowers’ payments, most ARMs include a set of interest rate caps that determine how much the rate can rise, both at the first adjustment, periodically, and over the life of the loan. This will directly impact the size of the monthly mortgage payments. **Initial adjustment cap:** This limits how much the interest rate can increase when the introductory period ends. Many ARMs cap this first jump at two to five percentage points, though some allow up to five points depending on the terms. That’s why it’s so important to understand the loan and what this could mean for your budget before signing on the dotted loan. For example, a borrower starting with a 5.5% rate on a 7-year ARM with a 4% initial cap could see the rate rise to as high as 9.5% at the first adjustment if market conditions warranted it. It should be noted, though, that interest rates haven’t been over 9% at any point since 1994. **Subsequent adjustment cap:** After the first reset, periodic caps limit how much the rate can change at each subsequent adjustment. It’s usually capped by one to two percentage points at a time. Even with these limits, several small increases can add up quickly if market rates are trending up. **Lifetime adjustment cap:** This establishes the maximum interest rate a borrower can ever be charged. Most ARMs set the lifetime cap around five percentage points above the initial rate. In the earlier example, a borrower beginning with a 5.5% interest rate with a 5% cap would never pay more than 10.5%, even if rates rose even higher. These caps don’t eliminate the risk of higher payments, but they do set a ceiling on how much the loan can ultimately cost. # How rising interest rates affect monthly payments The cap structure translates directly into potential monthly payment changes, something first-time buyers should pay attention to carefully. Take a borrower with a $400,000 loan starting with a 5.5% interest rate. Their monthly principal and interest payment is roughly $2,271. If the rate rose to 10.5%, the maximum allowed under many lifetime caps, the monthly payment would climb to about $3,659, an increase of nearly $1,400 a month. Now, this represents a worst-case scenario, not the default. Mortgage rates would have to shoot up at a historical rate for this to happen. And many ARM borrowers [refinance into other ARMs](https://www.newamericanfunding.com/learning-center/homeowners/looking-to-save-money-you-may-want-to-refinance-your-home-loan-to-an-adjustable-rate-mortgage/) or fixed-rate loans, sell their homes, or see more moderate adjustments. Still, understanding the outer limits helps buyers determine whether they can absorb potential increases. “An ARM can work well for someone with a predictable path,” Rimes says. “But if a buyer can’t clearly articulate their exit strategy, refinancing, selling, or a planned income jump, they’re simply hoping for the best. And hope is a terrible financial plan.” # When an ARM makes sense and when it doesn’t https://preview.redd.it/vumtei9xb7rg1.png?width=1125&format=png&auto=webp&s=7d7d3a272a0bb8b2ed52e31516cf2033450551ce ARMs are not inherently risky, but they are not “set it and forget it” loans. It’s important to understand how interest rate floors and caps can impact future payments and have an exit plan in place just in case. These loans can be a smart option for buyers who: * Expect significant income growth within the fixed period * Plan to move or sell before the first adjustment * Are prepared to [refinance](https://www.newamericanfunding.com/refinance/) once rates fall * Have strong savings and can handle potential payment increases Buyers who prioritize stability, have tight budgets, or expect to stay in their home for many years may prefer the predictability of a fixed-rate mortgage. # ARMs: The bottom line ARMs can offer meaningful savings upfront, which is why they’re resurfacing as interest rates remain high. But they require preparation, an understanding of how rate caps work, and an understanding of how rising rates might affect long-term affordability. For the right borrower, an ARM can be a strategic tool. For others, the peace of mind of a fixed-rate loan may be worth the higher initial cost. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/5v3ebxnhb0rg1.png?width=1600&format=png&auto=webp&s=b43f5db5ac1b6c19222fece00ea5f636ce342b4f By [Rabekah Henderson](https://www.newamericanfunding.com/learning-center/authors/rabekah-henderson/) March 24, 2026 College may come with a lot of perks, but the [student loan debt](https://www.newamericanfunding.com/learning-center/videos/buying-a-home-with-student-loan-debt2/) many graduates leave with is certainly not one of them. The average federal student loan balance is $38,375 in 2024, according to the [Education Data Initiative](https://educationdata.org/student-loan-debt-statistics). When adding in private loans, the debt may go up to an average $41,618, according to the Initiative. Student loans are now the second-highest consumer debt category after mortgages. All that debt can make it difficult for many to [save up for a down payment](https://www.newamericanfunding.com/learning-center/homebuyers/first-time-homebuyer-alert-six-smart-ways-to-come-up-with-a-down-payment-for-a-home/) when they want to [buy a home](https://www.newamericanfunding.com/buy-a-home/). But it doesn’t mean that qualifying for a mortgage with student debt is an impossible task. “Borrowers with six-figure debt get approved every day by keeping their debt-to-income low, building good credit, and planning,” said [Andrew Latham](https://www.supermoney.com/author/andrew-latham), a certified financial planner and content director with SuperMoney. The company compares different financial products and services. Here’s what to know about getting a mortgage with student loan debt. # Homebuyers should pay down student debt if they can One of the best things homebuyers with student loan debt can do is pay off what they can. This can be hard when rents are high and the prices of everyday goods seem to keep rising. Focus on reducing debt in the six-to-12 months leading up to a home purchase by cutting back where you can, working extra hours, or getting a side hustle. This may help you to make extra loan payments or pay off smaller loans in full. It’s often a better idea to pay off smaller loans, even if they’re not student loans, to reduce your [debt-to-income (DTI) ratio](https://www.newamericanfunding.com/learning-center/videos/buying-a-home-pay-attention-to-your-debt-to-income-ratio/). Lenders look at your DTI, which is how much you owe compared to how much you earn, when deciding whether to give you a loan. # Explore student loan repayment plans https://preview.redd.it/cafpsbelb0rg1.png?width=1125&format=png&auto=webp&s=d7dcf57aa6f4d9ac611f9254cf671784f48c4012 It’s important to remember that your DTI ratio often matters more than the total amount of student loans you have. To reduce your monthly debt payments, consider looking at different repayment plans, especially income-driven ones. “It’s not about whether you have student loans,” said Latham. “It’s about showing you can manage your finances.” Lenders may look favorably at the extra money you have in your accounts every month when you’re applying for a loan. Graduated or extended student loan repayment plans can also reduce your monthly payments. “The lower monthly payment helps your DTI, even if your total loan balance is high,” said Latham. # Look into student loan forgiveness options If your student loans are eligible for forgiveness, you may be in luck. Some lenders exclude loans that will be forgiven, canceled, or repaid by an employer from your DTI ratio. Look into whether your employer offers this. It’s most common for those working for the state or federal government, or for those who went back to school through an employer-sponsored plan. # Improve your credit score https://preview.redd.it/fpvvgwzmb0rg1.png?width=1125&format=png&auto=webp&s=c92c75906fc0e537519e92ace316db1cd018ab3f Your debt isn’t the only thing lenders consider when applying for a mortgage. “Your credit score also matters,” said Latham. “Pay all bills on time and avoid new debt before applying.” These steps can help to [improve your credit score](https://www.newamericanfunding.com/learning-center/videos/how-to-boost-your-credit-score/). You can also keep your credit utilization under 30% and avoid any unnecessary hard credit checks from banks or lenders. However, if your credit is quite low, it may be worth it to apply for a secured credit card to boost your credit and get your finances back on track. # Consider more affordable homes You’re more likely to get approved for a mortgage if you’ll have a lower monthly payment thanks to a lower-cost home. Consider spending less on a home by looking for one that’s a bit of a fixer-upper or is in less of a prime location. A higher down payment can be to your advantage too, as it reduces the amount of debt you’ll need to take on in a mortgage. Buyers may want to look into [down payment assistance programs](https://www.newamericanfunding.com/learning-center/videos/how-to-get-free-money-to-purchase-a-home/). The funding may help contribute to or even cover their down payment and closing costs. “A solid down payment (even 10%) can strengthen your application and reduce or eliminate private mortgage insurance,” he said. # Homebuyers with student loan debt should talk to a loan officer One of the best things homebuyers with student loan debt can do is [speak with a loan officer](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase) early in their homebuying journey. A loan officer may be able to let you know about financing options that are made for those with a high DTI ratio. Take some time to meet with one to explore your options, discuss strategies for reducing debt, and plan for next steps. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/e8v1yms3b0rg1.png?width=1600&format=png&auto=webp&s=4f794c26f6c8b03fdb0261dcd5e5c834e4e89c6e By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 24, 2026 From singer Pharrell Williams encouraging listeners to “clap along if you feel like happiness is the truth,” to Bobby McFerrin’s crooning advice to “don’t worry, be happy,” the pursuit of happiness has long been a popular theme in music. But beyond the lyrics, researchers have spent decades studying what truly increases happiness in everyday life. The answer often comes down to a mix of factors: good physical and mental health, stable jobs, meaningful relationships, and a strong community. And while happiness is personal, where you live can make a difference. For example, the upscale Bay Area community of Fremont, Calif. held onto the title of the happiest city, according to a recent [WalletHub](https://wallethub.com/edu/happiest-places-to-live/32619) report. Interestingly, many of the happiest places are mid-sized cities or suburbs, suggesting that residents often find the best balance between economic opportunity and quality of life outside the nation’s largest urban centers. “Research shows that having more money only increases your happiness until you’re making at least $75,000 per year,” said Chip Lupo, a WalletHub analyst, in a statement. “The ideal city provides conditions that foster good mental and physical health, like reasonable work hours, short commutes, good weather, and caring neighbors.” To identify the happiest cities in the U.S., WalletHub examined over 180 of the largest cities in the country, using research based on positive psychology. The study assessed each city with 29 happiness indicators, such as emotional and physical well-being, income and employment, and community and environment. For Americans considering a move, the findings suggest that happiness may not just come from chasing the next opportunity but from choosing the right place to call home. # Here are the 10 happiest cities in America https://preview.redd.it/fcwoe1x6b0rg1.png?width=1125&format=png&auto=webp&s=d0bbf2d867e1f5c8e862016b6f3eeb3d3d2edc16 1. **Fremont, Calif.** With 1,224 acres of parkland, it’s little wonder California’s happiest city tops the list largely because of it ranking first nationwide in emotional and physical well-being. The Bay Area suburb also benefits from high household incomes and strong job opportunities linked to the region’s tech economy. 2. **Bismarck, N.D.** North Dakota’s capital scores particularly high in the community and environmental categories, ranking first overall. A stable economy, low unemployment, and strong local connections make Bismarck one of the happiest places to live in the country. 3. **Scottsdale, Ariz.** A solid job market and outdoor-oriented lifestyle help keep residents happy in this sunny desert city. Residents enjoy year-round sunshine, numerous golf courses, and easy access to hiking in the nearby Sonoran Desert. The city’s thriving tourism industry, arts scene, and walkable entertainment districts also contribute to a lifestyle that combines work, recreation, and social connection. https://preview.redd.it/comuh2s8b0rg1.png?width=1125&format=png&auto=webp&s=4c425f256e37c34d08114387e6cad08ce22f7a20 4. **South Burlington, Vt.** Located along freshwater Lake Champlain, this area scores high for emotional and physical well-being and job opportunities. Access to outdoor activities, from skiing to swimming, and a tight-knit community help improve residents’ quality of life. 5. **Fargo, N.D.** The most populous city in the Peace Garden State has people grinning, thanks to deep community ties and a healthy environment, highlighting its active population and a stable economy focused on tech and healthcare. The city also benefits from reasonably priced housing and a growing job market. 6. **Overland Park, Kan.** This Kansas City suburb is known for top schools, safe neighborhoods, and a family-friendly environment. It’s also a popular location for small businesses and corporate headquarters. 7. **Charleston, S.C.** The port city, founded in 1670, is located on the coast and has historic appeal, boosting its happiness ranking. The city scores especially high in community and environment, thanks to its lively culture and high quality of life. https://preview.redd.it/iz31rmfab0rg1.png?width=1125&format=png&auto=webp&s=870f4d6e072bd5f3d67505512b001b84e2542596 8. **Irvine, Calif.** Located in Orange County, Irvine stands out for its carefully planned neighborhoods, top-rated schools, and strong job opportunities linked to nearby tech, healthcare, and education centers. The city’s mild Southern California climate, plenty of green spaces, and well-designed communities also help create an environment where residents can balance work, leisure, and family life. 9. **Gilbert, Ariz.** The town in Maricopa County has become one of the fastest-growing communities in the Phoenix metro area. Rapid economic growth, highly rated schools, and plenty of parks and recreation areas have helped transform the former farming community into one of the region’s most desirable places to live. **10. San Jose, Calif.** San Jose completes the list mainly due to its robust tech-centered economy. The city ranks 7th for emotional and physical well-being, reflecting residents’ strong health and active lifestyles. High-paying jobs in Silicon Valley continue to attract workers nationwide, and although housing costs remain among the highest in the country, the region’s economic opportunities, mild climate, and outdoor recreation help maintain high overall life satisfaction. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

#Featured Event [Jonathan Scales Fourchestra](https://tricityvibe.com/event/jonathan-scales-fourchestra-steel-pan-extrordinaire-emerald-siam/) | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 9p #23–29 March **Art/Theater** Academy of Children's Theatre Presents: Tuck Everlasting | [The Academy of Children's Theatre](https://www.academyofchildrenstheatre.org/https://app.arts-people.com/index.php), Richland | 7p Mar 20, 3p Mar 21, 22 #23–4 March **Events/Hangouts** Easter Bunny Photo Experience 🐰 | [Columbia Center Mall](https://www.simon.com/mall/columbia-center/), Kennewick | 2-4p #27–4 March **Restaurants/Bars/Wineries** Girl Scout Cookie + Wine Pairing | [Longship Cellars](https://longshipcellars.com/), Richland | 2-8p #27–28 March **Events/Hangouts** Tri City Quilters Guild Quilt Show | [Three Rivers Convention Center](), Kennewick | 10a-5p $12 good for both days #27–28 March **Sports** Badger Mountain Challenge | Ultramarathon | [Badger Mountain West Trailhead](), Richland | 6a #23 March **Events/Hangouts** CBNA Networking Meet Up at the HUB - AI for Nonprofits | [Summers Hub of Kennewick](https://thehubkennewick.com/), Pasco | 4p DDA Eligibility & Sign Up Night | [Arc of Tri-Cities](https://arcoftricities.com), Richland | 6p Monday Movie: A Clockwork Orange | [Richland Public Library](), Richland | 5:30-7:30p **Classes/Workshops** GQ: Gentlemen's Quartet in concert | [Richland High School Auditorium](), Richland | 7:30p Workshop 1: Government Contracting for Trucking Businesses | [Worksource Columbia Basin](https://www.worksourcewa.com/), Kennewick | 4-5p English 6-7p Spanish Free **Sports** Jump Course (Ride A Round) Play Day | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 4p **School District Event** Three Rivers Elementary Skate Night | [The Rollerena](https://richlandskate.com/), Richland | 6p $7 #24 March **Events/Hangouts** Clearwater North Ribbon Cutting | [Pro Made Homes](https://promadehomes.com/city/pasco/), Kennewick | 12p General Membership Meeting | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 6:30p Public Meeting on Concentrate Offsite Treatment and Disposal Pathway | [Richland Public Library](), Richland | 5:30p Cereal Book Club: 39 Clues series | [Richland Public Library](), Richland | 4p **Classes/Workshops** Toxicity Workshop - Detox Your Body | [NewEdge Family Chiropractic](https://newedgefamilychiropractic.com/kennewick/), Kennewick | 11:30a Workshop 2: Compliance, Safety & Enforcement | [Worksource Columbia Basin](https://www.worksourcewa.com/), Kennewick | 4-5p English 6-7p Spanish Open Studio for Adults | [Yellow Dog Art Studio](), Richland | 6p Google Business Profile 101 | [New American Funding](), Kennewick | 11a Financial Mastery for Small Business Owners | [Home Builders Association of Tri-Cities](https://web.tricityregionalchamber.com/Home-Building-Association/Home-Builders-Association-406), Kennewick | 10:30a *SOLD OUT* Pie Dough & Berry Galette Class with Layered | [Layered Cake Artistry](https://layeredcakeartistry.com/), Kennewick | 5:30p Easter Gnome – Ages 12+ | [Summers Hub of Pasco](), Pasco | 6:30p **Music/Comedy** Kai and Lola Guthrie | [Henry Earl Estate Wines](https://mercerwine.com/), Walla Walla | 5-7p Talena Bricker | [ Richland High School](), Richland | 6p #25 March **Events/Hangouts** WSU SEAS Showcase | [WSU Tri-Cities](), Richland | 4-5:30p Floyd building, Room 252 Annual Meeting & Awards Luncheon | [Three Rivers Convention Center](), Kennewick | 11a-12p Expo 12-1:30 Lunch & Program Mission Mingle | [3 Rivers Community Foundation](https://www.3rcf.org/), Kennewick | 3p **Classes/Workshops** Workshop 3: Licensing, Permits & Regulatory Requirements (UTC) | [Worksource Columbia Basin](https://www.worksourcewa.com/), Kennewick | 4-5p English 6-7p Spanish Free Paint n Sip By Nyree | [The Dugout-Southridge](https://thedugouttricities.com/), Kennewick | 7p $45 Spring Flowers Painting with Glass | [db Studio at Barnard Griffin](https://dbstudiofusedglass.com/), Richland | 5:30p $66 Springer Salmon Fishin' Seminar | [D's Fishin' Spot](), Pasco | 6p In Concert: Flat Possum Pickers | [Layered Cake Artistry](https://layeredcakeartistry.com/), Kennewick | 5p Sips and Stems- Succulent & Free Spirit Rose Design | [Longship Cellars](https://longshipcellars.com/), Richland | 5:30p Cupcake Piglet Paint & Sip | [Art YOUR Way](https://www.artyourway.org/), Pasco | 6-8p $49 **Music/Comedy** Jazz Jams with Japheth Solares | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 6p In Concert: Flat Possum Pickers | [Princess Theatre](https://www.prosserprincess.com/), Prosser | 7p Blue Heron | [Perch Cantina](https://perchcantina.com/), Richland | 6-8p **Restaurants/Bars/Wineries** Wine Wednesday- Kiona | [Tri-Cities Food Co-Op](https://tcfcoop.org/), Richland | 5:30p #26 March **Events/Hangouts** Federal Partners Coalition | [Hapo Center](https://www.hapocenter.com/), Pasco | 9a Spring Glow Botox Pop-up – One Day Only | [Atomic Dermatology](https://atomicderm.com/), Richland | 3-7p 2025 Membership Meeting, Awards Ceremony & Board Installation | [Red Lion Hotel & Conference Center](https://redlionpasco.com/), Kennewick | 11:30a-2p Pasco: Meet & Greet with Congressional Candidate John Duresky | [Cafe con Arte](https://www.cafeconarte.org/), Pasco | 10a **Classes/Workshops** Olive Oil Uncovered: A Mediterranean Focaccia Baking Class | [Layered Cake Artistry](https://layeredcakeartistry.com/), Kennewick | 5-6:30p $106.94 Traveling With Dementia | [Town Square Kennewick](https://web.tricityregionalchamber.com/Radio-Station/Townsquare-Media-212), Kennewick | 3:30-4:30p Workshop 4: Certification, Readiness & Long-Term Business Growth (OMWBE) | [Worksource Columbia Basin](https://www.worksourcewa.com/), Kennewick | 4p Sip and Shape: A Basic Flowering Tree of Life Jewelry Class | [ReineCrafts](https://www.instagram.com/reinecrafts), Richland | 6p $55 Empowering Experiences Summit | [Holiday Inn Express & Suites Pasco](https://www.ihg.com/holidayinnexpress/hotels/us/en/pasco/pscwa/hoteldetail), Pasco | 10:30a Little Explorers: Birds & Nests | [REACH Museum](https://visitthereach.us/), Richland | 10:15a Intro To AI | [Phipps RE/MAX](), Kennewick | 5:30p 1960's Vinyl Painting for Teens | [Richland Public Library](), Richland | 5p **Music/Comedy** John Boudreux | [Soi 705](@soi705streetfood), Richland | 6:30-8:30p Albany Opal | [Soi 705](@soi705streetfood), Richland | 6:30-8:30p Mike Palascak comedy show | [Jokers Comedy Club](https://jokerstricities.com/), Richland | 7-8:30p $20 Amanda Arnold Live Comedy Night | [The Long Branch Saloon](https://longbranchfinley.com/), Kennewick | 6:30p #27 March **Events/Hangouts** Wildflower Fiction POP UP | [Swagg Coffee Bar](https://www.swagg.coffee/), West Richland | 2p Tea & Tulips | [The Ruby Gallery & Events](https://www.rubygalleryandevents.com/), Richland | 6-8p $45 Drag Show: Tatiana X Nikita | [Blackthorne Neighbourhood Pub](https://www.blackthornepub.net/), Kennewick | 9a $10 Glow in the Dark Easter Egg Hunts with The Family Resource Center 🐣| [3 Chicks Thrift Store & Boutique](https://thethriftchicks.com/), Kennewick | 4:30p Mother & Son Dance Glow Party | [Fiesta'a Event Center](), Kennewick | 6-9p $55/pair $15 son Salsa Night | [Market Vineyards](https://www.marketvineyards.com/), Richland | 7p Water2Wine Murder Mystery Dinner | [Columbia Point Marina](), Richland | 6:30-9p **Classes/Workshops** Demo Days - Learn to Play Sanibel | [Adventures Underground](https://www.advunderground.com/), Richland | 3-6p Cooking Class | Street Food from Around the World | [Red Lion Hotel & Conference Center](https://redlionpasco.com/), Pasco | 6-9p $89 Crushed Glass Resin Highland Cow Class | [Art YOUR Way](https://www.artyourway.org/), Pasco | 6p $65 House Buying Workshop to Learn How to Purchase | [Kenmore Tri-Cities](https://www.kenmoreteam.com/), Kennewick | 5:30p 30 min Yoga Practice Class | [Lifted Lotus Yoga](https://www.liftedlotusyogacollective.com/thejointevents), Kennewick | 2p Sandhill Crane Photography Workshop | [West Richland Transit Center](), West Richland | $140 **Music/Comedy** Cindy and Sally | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 5p Simply Seasoned | [Rattlesnake Mountain Brewing Co](https://rattlesnakemountainbrewingco.com/), Richland | 7p One Way | [Pasco Eagles](https://pascoeagles.com/), Pasco | 6-9p Jonathan Scales Fourchestra | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 9p Back 2 Bass EDM Night | [Rays Golden Lion](@raysgoldenlion), Richland | 7:30p Rachel Montgomery | [3 Eyed Fish](https://www.3eyedfishwinebar.com/), Richland | 7-9p Eoghan Murphy | [Henry Earl Estate Wines](https://mercerwine.com/), Walla Walla | 6-8p Jack Rothwell  | [Barnard Griffin Winery](https://barnardgriffin.com/visit/), Richland | 6p Dane Pollard | [Solar Spirits](https://www.solarspirits.com/), Richland | 6-8p Bass Candy 18+ Rave | [Azucar at Out and About](https://www.cluboutandabout.com/), Pasco | 8p **School District Event** Soup with the Sup | [Pasco School District](), Pasco | 11:30a #28 March **Events/Hangouts** Easter Egg Hunt | [Highlands Grange Park](), Kennewick | 1p Bunny Brunch 2026 | [Richland Community Center](), Richland | 10a-1p Clays for Conservation-Lunch included | [The Lost Barn Venue](), West Richland | 10a-2p $60/shooter $15/spectators Library Passport: Party with the Cat in the Hat | [Princess Theatre](https://www.prosserprincess.com/), Prosser | 10:30a DTPRACEWARS Spring Car/Truck Show | [Benton-Franklin Fairgrounds](www.truckandtractorpulls.com), Kennewick | 9a Lipstick Divas | [Azucar at Out and About](https://www.cluboutandabout.com/), Pasco | 9p $13 DSAMC Women's Group | [Arc of Tri-Cities](https://arcoftricities.com), Richland | 2p PetSmart National Adoption Event | [PetSmart](https://www.popptricities.org/), Kennewick | 11a Turning Pages | [Richland Public Library](), Richland | 10:30a CWQHA Spring Show | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 9a Bridal Show Vendors Spots | [Moore Mansion](), Pasco | 11a-4p event 4-6p vendor after party $109 vendor spot "Two Small Pieces of Glass: The Amazing Telescope" | [CPCCo Planetarium - CBC, Franklin County Saddle Club](https://www.tix.com/ticket-sales/CBCPlanetarium/4311,http://www.franklincountysaddleclub.org/), Pasco | 2p "Unseen Universe" | [CPCCo Planetarium - CBC](https://www.tix.com/ticket-sales/CBCPlanetarium/4311), Pasco | 3:30p Lincoln Reign Author Signing | [Adventures Underground](https://www.advunderground.com/), Richland | 2-4p Geology of the Tri-cities Field Trip | [Richland Community Center](), Richland | 9a Warhammer Kennewick Store Anniversary | [Warhammer Kennewick](), Kennewick | 10a Wildflower Fiction POP UP | [Swagg Coffee Bar](https://www.swagg.coffee/), West Richland | 11a **Classes/Workshops** Exploring Rythms ~ Belly Dance Workshop | [609 The Parkway](https://www.harmonicsoulscape.com/) $30 Homebuyer Seminar: Buying Your First Home - Where to Start | [Foyer 950](), Richland | 11a Youth Clinic | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 9a $35 Butter Churning Class | [Muret-Gaston Wine Bar](https://muret-gaston.com/), Benton City | 3-5p Tarot Foundations: Beginner Tarot Workshop | [ Sacred Echoes Crystals & Curiosities](), Richland | 12p $87 Ranch Horsemanship | [ The Raisin'H Arena ](), Mesa | 9a Sloth's Floral Embrace Paint & Sip | [Art YOUR Way](https://www.artyourway.org/), Pasco | 6-8p $49 Bloom & Bottle Sip & Paint | [Splat It!](https://www.splatitnw.com/), Prosser | 11a $35 Hawkwardly Competitive Sip & Paint | [SportsPage Bar](https://sportspagewa.com/), Kennewick | 6p $30 Yoga + DJ Drez and Lacey | [Lifted Lotus Yoga](https://www.liftedlotusyogacollective.com/thejointevents), Kennewick | 6p **Music/Comedy** Mercury Rising | [Whiskey River Bar & Grill](https://whiskeyriverbarrichland.com/), Richland | 8p Backroads | [Iconic Brewing](Facebook), Richland | 7p Aaron Crawford | [Brewminatti](https://brewminatti.com/), Prosser | 7p Fat Fox | [SportsPage Bar](https://sportspagewa.com/), Kennewick | 8:30p Night Crew | [At Michele’s](https://atmicheles.com/), Richland | 7p Valiant Resilience Concert | [Richland High School Auditorium](), Richland | 7:30p The Knockoffs | [Rattlesnake Mountain Brewing Co](https://rattlesnakemountainbrewingco.com/), Richland | 7p Hear Me Out | [El Tequilas - Tacos y Mariscos ](https://www.instagram.com/explore/locations/460827734309665/tacos-y-mariscos-el-tequilas/), Kennewick | 8p David Rogers | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 5p Los Mal Hablados with No Soap Radio | [The Emerald of Siam](https://www.emeraldofsiam.com/), Richland | 9p LUCO & CO BAND | [Stacks Bar and Grill](https://www.stacksbarandgrill.com/), Pasco | 11p Zac Burrell | [Perch Cantina](https://perchcantina.com/), Richland | 7-9p Flowers for Wolves | [Monson Ranch Distillers](https://monsonranchdistillers.com/), Prosser | 3-6p Pamela Thomas-Martin | [Henry Earl Estate Wines](https://mercerwine.com/), Walla Walla | 6-8p Goth Night: Eves Black Heart/Licorice Chamber + Guests | [Rays Golden Lion](@raysgoldenlion), Richland | 8p Barrel Room After Dark: Kate Turner Live (Country) | [Fiction Restaurant at J. Bookwalter Winery](https://www.bookwalterwines.com/), Richland | 6-9p $20 Selva Negra: Tributo a Maná | [Crazy Crab Place](), Kennewick | 9:30p $25 Frontline | [Pasco Eagles](https://pascoeagles.com/), Pasco | 6-9p **Markets** The Card Show | [Summers Hub of Pasco](), Pasco | 11a-4p Metaphysical Market | [The Looking Glass](), Richland | 11a **Markets** The Card Show | [Summers Hub of Pasco](), Pasco | 11a-4p Metaphysical Market | [The Looking Glass](), Richland | 11a #29 March **Events/Hangouts** CWQHA Spring Show | [Franklin County Saddle Club](http://www.franklincountysaddleclub.org/), Pasco | 9a LGBTQ+ Tabletop Social | [Richland Public Library](), Richland | 2-5p Palm Sunday ⛪ | [Meadow Springs Presbyterian Church](https://www.meadow-springs.org/), Richland | 10a Spring Sunday Soulfood Supper | [The Social](https://www.thesocialtricities.com/), Richland | 1-4p $120 **Classes/Workshops** Butter Chicken Cooking Class with Fast & Curryous | [Purple Star Winery](https://www.purplestarwines.com/events.html), Benton City | 4p $135 Paint Pour N Sip Glow in the dark Mandela | [Azucar at Out and About](https://www.cluboutandabout.com/), Pasco | 6p $43 Ranch Horsemanship | [ The Raisin'H Arena ](), Mesa | 9a Events are pulled from tri-cityvibe.com, visittri-cities.com and allevents.com Post any events you'd like to signal boost in the comments!

https://preview.redd.it/xydlvhc4ouqg1.png?width=1600&format=png&auto=webp&s=16171703cf2c4d5b9cd1e318e785e7e69fc4a4f3 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) March 23, 2026 A record number of Hispanic households are now homeowners. About 10.2 million Hispanic households owned their properties last year, according to the National Association of Hispanic Real Estate Professionals (NAHREP)’s [2025 State of Hispanic Homeownership Report](https://nahrep.org/shhr/). About 441,000 new Hispanic households became homeowners last year. This was the largest annual rise in Hispanic homeownership since the U.S. Census Bureau began tracking the data in 1975, according to the report. “In a year in which affordability and economic uncertainty kept many Americans on the sidelines, Latino buyers are effectively supporting the housing market,” said NAHREP National President Edwin Acevedo in a statement. “Their youth and resilience in a tough environment indicate that the influence of Latino buyers will only grow over time.” NAHREP attributed the gains in homeownership to slower home price appreciation, lower mortgage rates, and more properties going up for sale. While more Hispanic households are now homeowners, the overall Hispanic homeownership rate did drop half a percentage point to 48.5% in 2025. That’s about half a point lower than the previous year. (Households include everyone living under one roof, such as families, extended families, and even roommates.) The decline in overall Hispanic homeownership rate is largely due to nearly 1.1 million more Hispanic households that were created last year, according to the report. That effectively lowered the rate. About 64% of Hispanic homebuyers are members of Generation Z or are millennials. The typical Hispanic buyer was 31, according to the report. The median Hispanic household income hit $72,574 in 2024, up 4.5% from the prior year. In addition to buying primary homes, real estate professionals saw an uptick in Hispanic buyers becoming real estate investors, according to the report. They will often turn their first home into a rental and use the income it generates to purchase the next property. The report looked at data from the U.S. Census Bureau, Home Mortgage Disclosure Act, Bureau of Labor Statistics, and [Realtor.com](http://Realtor.com) as well as interviews with 15 nationwide real estate agents and 15 mortgage originators (including [New American Funding](https://www.newamericanfunding.com/).) # Which states are seeing the largest increases and decreases in Hispanic residents? More Hispanic people are moving out of pricier coastal areas and into the Midwest and Northeast. Virginia gained the most Hispanic residents, at 54,800. Pennsylvania saw an increase of 27,400, followed by Nevada, at 27,000. Meanwhile, California lost the most Hispanic residents, at 83,500, followed by Missouri, at 53,900, and Florida, at 27,000. In terms of Hispanic homeownership growth, New Hampshire saw the largest increase, rising 197% between 2014 and 2024. It was followed by Kentucky, at 188%, and Tennessee, at 135%. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/g8ef0bck5tqg1.png?width=1600&format=png&auto=webp&s=1008f5dbc2361fc0775680789f1a95ce3ec46cd2 By [Rabekah Henderson](https://www.newamericanfunding.com/learning-center/authors/rabekah-henderson/) March 23, 2026 What if three little digits could save you tens of thousands of dollars? Your credit score isn’t just a number: it’s your financial superpower when it comes to buying a home. A great [credit score](https://www.newamericanfunding.com/learning-center/homebuyers/your-credit-score-could-be-the-key-to-homeownershipheres-why/) can lower your [interest rate](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-a-mortgage-rate/), shrink your monthly payments, and unlock various benefits. “By scoring high, you will save money on several financial products at the same time,” said [Geoff Knight](https://filetax.com/about-us), founder and CEO of FileTax. Here’s what a [good credit score](https://www.newamericanfunding.com/learning-center/videos/how-to-boost-your-credit-score/) is, how to boost yours, and what score you’ll need to buy a home or refinance your loan. Ready to make those three digits work harder for you? # The benefits of having a good credit score A high credit score comes with several helpful benefits. One of the most important is access to lower mortgage interest rates when buying a home. A higher credit score makes you look like less of a risk to lenders. This may help you qualify for a lower interest rate than someone with a lesser credit score. This difference alone may save you hundreds, if not thousands, of dollars in interest over the course of the loan. Knight also adds that a higher credit score can be useful in emergencies. It may help you obtain a low-interest credit line or a balance transfer. While these may not be the benefits that first come to mind with a high credit score, they can still make a real difference in the case of a job loss, medical emergency, or unexpected home repair, such as a pipe or boiler breaking. # What is a “good” credit score? https://preview.redd.it/0i1ov1t86tqg1.png?width=1125&format=png&auto=webp&s=4aa8f1c3c738899bbce232a31b1c60f2c484fd9e A “good” credit score might be lower than you think. Homebuyers and those hoping to refinance their existing mortgages may not need a score over 800 to lock in a low interest rate. In general, try to have a credit score with a ‘good’ rating. This is typically given to scores between 670 and 739. ‘Very good’ scores are 740 to 799, while scores above 800 are considered ‘exceptional.’ Lenders often offer the best deals for those with scores of 760 or above, said Knight. Lower scores may come with higher interest rates. However, homebuyers may be able to qualify for a [Federal Housing Administration (FHA) loan](https://www.newamericanfunding.com/loan-types/fha-loan/) with scores between 500 and 580. Those seeking a [Conventional loan](https://www.newamericanfunding.com/loan-types/conventional-loan/) typically need a higher credit score. # How to boost your credit score One of the simplest ways to raise your credit score is to reduce the amount of debt you’re carrying. You should try to reduce your debt to 30% of your credit limit, as paying down debt raises your all-important debt-to-income ratio. These types of changes can take 30 to 60 days to affect your credit score. Make sure not to close any credit cards. These keep your available credit limit high, cushioning your score. Instead, keep a small recurring charge (like a streaming service subscription) that’s paid in full each month on no-longer-used cards. You also don’t want to take on any new debt or open up new cards during this time. Most importantly, make sure all bills are paid on time. Late payments can affect your credit score for a minimum of six months. Non-medical bills sent to collections can also stay on your record for years. # What’s the minimum credit score needed to buy a home or refinance a loan? https://preview.redd.it/xl9ay5ma6tqg1.png?width=1125&format=png&auto=webp&s=5dde222e9715585f3a2ad2e32eb69d57d11810b6 Different types of mortgages have different credit score requirements. But keep in mind these requirements are minimums. You typically won’t be getting great rates from a lender if your credit score is so-so. While you may be able to qualify for an FHA loan with a credit score of 500, you will be required to make a 10% down payment. Credit scores upwards of 580 may allow you to put down just 3.5%. [U.S. Department of Agriculture (USDA) loans](https://www.newamericanfunding.com/loan-types/usda-loan/) have a similar credit score requirement of around 580. However, this may vary by lender. The credit score requirements to refinance an existing mortgage are similar to those for purchase loans. You will often need a score of at least 620 for a Conventional loan refinance. Meanwhile, those seeking to refinance for a government loan, such as an FHA loan, generally need scores of between 580 and 620. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/k29trt7co7qg1.png?width=1600&format=png&auto=webp&s=b03936d30d12f1991396970fb69b9ebedd8d0b46 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 20, 2026 For many first-time would-be homeowners, the path to property ownership can feel like an uphill climb. However, rather than putting their chance to build wealth on hold, some buyers are finding creative ways to make [homeownership work](https://www.newamericanfunding.com/first-time-homebuyer/). One potential solution is teaming up with a sibling to buy a place together. It’s a strategy that’s both practical and financially smart. “My sister and I are looking at going in on a house together for a couple of reasons,” said Victoria Ann Andersen. She currently lives with her sister in California’s Bay Area, but is likely to buy a home in Portland, Ore. “\[It’s\] a way to get our feet in the real estate market and to be able to split the cost on the down payment and a [mortgage](https://www.newamericanfunding.com/loan-types/).” Siblings often have similar financial backgrounds, share long-term goals, and—after growing up in the same home together—already know how to navigate each other’s quirks. And they may be able to call in their parents to break up any big disagreements.   Do you think this option might work for you? Here’s what you’ll want to know before you buy a home with a sibling. # Why buying a home with a sibling makes sense Unlike a roommate you met online or a romantic partner, you hopefully know exactly who you are buying a home with and what to expect. That familiarity can be a significant advantage when making one of the biggest financial decisions of your life. There’s also a broader shift happening in how younger buyers approach homeownership. Affordability challenges have led many to rethink the traditional solo path or waiting until marriage to purchase a home. In today’s [more balanced market](https://www.newamericanfunding.com/learning-center/homebuyers/good-news-for-buyers-the-housing-market-is-leaning-more-in-their-favor/)—where housing stock has improved and home prices are rising at a slower clip—pooling resources with someone you trust is one way to get a foot onto the property ladder. # How co-ownership can stretch your homebuying power https://preview.redd.it/du08my5fo7qg1.png?width=1125&format=png&auto=webp&s=f663616baed064c01029562f0866b415bfa8ad76 One of the biggest perks of buying a home with a sibling comes down to the financial benefits. Besides pooling resources for the down payment and monthly mortgage payments, siblings can split homeownership expenses like utilities and home repairs. Also, with two incomes on the application, many buyers find they can qualify for a larger loan. They may even be able to secure a lower mortgage interest rate as well as other savings. “A pair of siblings chipping in 10% apiece for a down payment can sidestep expensive [private mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/) (PMI)—the very thing that each would otherwise have to cover alone,” said [Jacob Naig](https://www.linkedin.com/in/jacob-naig-b44b574a/), a real estate investor and agent based in Des Moines, Iowa. Cutting out expenses, such as PMI, means your homebuying budget can stretch farther, allowing you to shop for a home in more desirable neighborhoods, affordably purchase a home with extra space, or select a home with stronger long-term potential. For some siblings, it’s a way to break free from the rent cycle. For others, it’s a chance to invest early and [build equity](https://www.newamericanfunding.com/learning-center/homebuyers/the-benefits-of-homeownership-is-buying-a-home-right-for-you/) instead of waiting years to save on their own. Some even use the arrangement as a launchpad—co-buying a two-bedroom or small duplex, living together while building wealth, and eventually splitting profits to go their separate ways. “Later in life, when my sister and I move into separate homes, we’d potentially use our first home bought together as a rental property for additional income,” Andersen said. # Types of titles when co-buying property Perhaps the most important decision you can make when discussing joint homeownership with your sibling is how to hold the home’s [title](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-title-insurance-and-how-can-it-save-you-money-in-the-long-run/). Most co-buying siblings choose “tenants in common.” This lets each person own a specific share and designate it to someone else in their will. This is one of the most flexible methods for multiple people to co-own property. It allows each person to own a particular part of the home—such as 50/50 or 70/30—and decide who inherits that share in the future. However, tenants in common come with no right of survivorship. That means if one sibling passes away, their portion doesn’t go to the other sibling by default—it goes to whoever they named in their will. If there’s no will, state inheritance laws decide who gets that share. Another title option is “joint tenancy,” which automatically transfers a deceased owner’s share to the surviving co-owner. So, be sure to have a discussion on estate planning upfront. “All of this can be addressed legally through a co-ownership agreement,” said [Rebecca Secord](https://www.yourhomelegal.com/) at YourHomeLegal.com. # What happens if one sibling doesn’t pay the mortgage Buying a home with a sibling can open the door to ownership, but it also comes with a slew of responsibilities. First and foremost: you’re financially linked. If one of you hits a rough financial patch or wants to move out early, you’ll need a plan in place to protect both your [credit score](https://www.newamericanfunding.com/learning-center/homebuyers/tips-to-boost-your-credit-score-before-buying-a-home/) and your investment. If both names are on the loan, you’re equally responsible for the mortgage. So, if your sibling stops paying the mortgage, the lender can still come after you for the full amount. Missed payments can lead to default or even foreclosure if left unresolved. So, make sure your co-ownership agreement outlines who pays what, what happens if someone can’t pay, and how to resolve disputes. Some siblings even use a joint account to manage payments and avoid finger-pointing later. “The other side of this is ugly and expensive, way more expensive than doing the work at the beginning,” added Secord. # Get clear on the rules of co-buying a home—and write them down https://preview.redd.it/nr4smr0ho7qg1.png?width=1125&format=png&auto=webp&s=a8fd62f417eb1e2dcb1bb23dfe62423e3828e15d Sibling homeownership works best when you treat it like a shared business venture. That means having honest conversations and putting a written plan in place that covers not just finances but all the other what-ifs life may throw at you: What happens if one person wants to sell? Can the other buy them out, or will you list the home and split the proceeds? Even everyday decisions—such as who handles the leaky faucet—can become sources of tension if not clearly addressed. Don’t leave it to chance. Discussing small logistics early reduces future headaches. Finally, keep in mind that co-owning or living together can resurface old dynamics. Maybe one sibling naturally takes charge of maintenance while the other avoids repairs. Defining roles from the start and checking in regularly can help keep the peace and protect your investment. Indeed, [co-buying a home](https://www.newamericanfunding.com/buy-a-home/) only works if both parties are willing to be transparent, communicative, and fully committed to the agreement. But when it works, it works. “A brother-sister duo recently sought my advice after they bought a duplex,” said Naig. “One lived in one half while the other resided in the other, and together they covered 50% of their mortgage payments thanks to rental income from the other side of the duplex.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

By [Jason Obradovich](https://www.newamericanfunding.com/learning-center/authors/jason-obradovich/) March 19, 2026 Welcome back to the [Mortgage Rundown](https://www.youtube.com/watch?v=o55A9m_q7OA&t=3s) We are going to talk about what’s happening with interest rates. It’s been a very volatile month in the market. We’ve seen weak job numbers, pretty good Gross Domestic Product (GDP), record national debt, and now a war in the Middle East. And let’s not forget about the FOMC (Federal Open Market Committee) meeting as well. All these forces have been pushing interest rates up and down recently. And the events of the past month have pushed volatility to the highest levels since April of last year. In terms of the direction of interest rates, on the one hand, we have a very weak jobs market. The February report showed a net loss of 92,000 jobs, with job losses in almost every sector.  The trendline for the monthly jobs figures for the past three years shows how weak it has become, with the likelihood of job losses to continue and at an accelerated pace. On the other hand, we are still dealing with elevated inflation. With the recent conflict in the Middle East and with these elevated oil prices, it’s very likely that inflation is not coming down anytime soon. And we had the Federal Reserve come out and hold short term rates unchanged. That’s given the current level of inflation and the risks that inflation will re-accelerate due to oil prices. Thankfully for [mortgage rates](https://www.newamericanfunding.com/mortgage-rates/), they’ve held to a pretty narrow range with everything going on. And it does appear the Federal Reserve is looking to lower rates later this year.  If oil prices can come down somewhat and the jobs market continues to show more weakness, we could see mortgage rates drop from here. That’s it, everyone, from the capital markets desk this week. Have a great day. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/kgr4o2ccj1qg1.png?width=1600&format=png&auto=webp&s=bb6019d0ac3171ed449690a94982de0e9b3becbf By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) March 19, 2026 [Mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) ticked up this week as the war in Iran continued. But they were about half a point lower than they were during last year’s spring housing market. Rates averaged 6.22% for 30-year, fixed-rate loans in the week ending March 19, according to [Freddie Mac data](https://www.freddiemac.com/pmms). That was up from 6.11% in the previous week, but down from 6.67% at this time last year. “Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales,” said Freddie Mac Chief Economist Sam Khater in a statement. Purchase applications rose 1% in the week ending March 13 compared to a week earlier, according to the [Mortgage Bankers Association (MBA)](https://s3141176.t.en25.com/e/es?s=3141176&e=229128&elqTrackId=efd74c1a1b7a40299e524d6e5aa03bea&elq=182d9fcec47b4e429f1c57bf8212875a&elqaid=14485&elqat=1&elqak=8AF59A39A1D21A509E8D13DE7EE8E1AD7A8ACFF011F62FF7CF3557AFFFBC07A2BA90). “Overall purchase applications remained ahead of last year’s pace, supported by higher inventory and slowing home-price growth in many markets,” said MBA’s Deputy Chief Economist Joel Kan in a statement. Someone buying a typical home would save nearly $100 a month due to the lower rates. That adds up to roughly $1,100 a year and more than $33,000 over the life of a 30-year, fixed-rate loan. (This assumes they purchased a median-priced home of $391,617 with 20% down at a 6.22% rate compared to a 6.67% rate. The median list price is as of Feb. 1, using [Zillow data](https://www.zillow.com/research/data/).) Refinance applications from homeowners eager to lock in a lower rate dropped 19% from the previous week, according to MBA. The decline was likely due to higher rates. However, refinance applications were 69% higher than a year ago when rates were higher. [Mortgage rates are expected to come down](https://www.newamericanfunding.com/learning-center/housing-news/the-fed-kept-interest-rates-steady.-will-that-help-or-hurt-the-spring-housing-market) once oil prices fall, according to New American Funding’s Chief Investment Officer Jason Obradovich. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/fcdsm3h3f0qg1.png?width=1600&format=png&auto=webp&s=007e43781931940acdfbd9e9a13a836780d88aae By [Don Sadler](https://www.newamericanfunding.com/learning-center/authors/don-sadler/) March 19, 2026 For most people, buying a home is the largest and most complex purchase they’ll make in their lives. The process is often highly stressful as buyers navigate the ins and outs of finding the right home, having an offer accepted, and being approved for a mortgage. As a result, some folks experience homebuyer’s remorse. They may think their purchase was a mistake, they spent too much on their property, or there was a better option they missed out on. One out of three first-time homebuyers said they feel some form of remorse about the home they bought, according to a survey conducted by [Guardian Service](https://guardianservice.com/home-insurance/first-time-homebuyer-nightmares/). Regrets range from homeownership being more expensive than they anticipated to the home not meeting their needs. However, there are ways that those scouring listings, attending open houses, and making offers can make sure they’re purchasing the right homes for their personal and financial situations and stave off buyer’s remorse. Below are five tips for making sure you’re not buying a home now that you will regret later. # Homebuyer regret No. 1: Not considering “hidden” costs The biggest regret felt by those with homebuyer’s remorse is that they didn’t learn more about the total cost of homeownership before purchasing a property, stated a director from [J.D. Power](https://www.realtor.com/news/trends/first-time-homebuyer-regret-survey/) at an industry conference. That’s why it’s important to factor in your total monthly expenses—and then add up to 6% of the sale price for maintenance and repairs. Then you can see if the home [fits into your budget](https://www.newamericanfunding.com/learning-center/videos/how-to-figure-out-how-much-home-can-you-afford/). The monthly mortgage payment is often just a starting point when calculating how much your housing costs will be. Other “hidden” costs include [property taxes](https://www.newamericanfunding.com/learning-center/homeowners/are-your-property-taxes-too-high-how-homeowners-may-be-able-to-save-$539-a-year/), insurance, repairs, maintenance, and utilities, which average more than $21,400 per year, according to a survey conducted by [Bankrate.](https://www.bankrate.com/home-equity/hidden-costs-of-homeownership-study/#hidden-costs) “Try to get an idea of how much utilities like gas, electricity, sewar and water are going to cost so you can factor this into your budget,” said Janel Morgan, realtor/broker associate at RE/MAX Results in St. Cloud, Minn. # Homebuyer regret No. 2: Overpaying for a home https://preview.redd.it/w186yeq5f0qg1.png?width=1125&format=png&auto=webp&s=69eaa25eef19849ef1cac72de07c101f4b192fcc A similar regret is that buyers paid too much for their home. This can happen in hot markets where home there are more buyers than homes for sale and bidding wars erupt for popular properties. The best way to avoid this mistake is to set a firm limit for how much you’ll spend on a home—and then stick to it. In slower markets, you may be able to submit a [lowball offer](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-lowball-offer-on-a-home-the-pros-cons-pitfalls-and-how-to-do-it-right2/) to lower the price of a home if it’s been listed for a while. You may also be able to negotiate with the seller to [help pay for closing costs](https://www.newamericanfunding.com/learning-center/homebuyers/seller-concessions-what-are-they-and-when-should-you-ask-for-them/) or even temporarily [buying down your mortgage rate](https://www.newamericanfunding.com/learning-center/videos/lower-your-mortgage-rate-now-with-a-buydown/). # Homebuyer regret No. 3: The home doesn’t meet their needs Another common regret is that the home you purchased doesn’t meet your needs. Maybe you have a baby on the way, or your adult parents are moving in with you and the home is too small. Or maybe it’s too large to clean and maintain and you’re not using all of the rooms. The property may also not have the features you wanted. While it’s impossible to know what the future holds, it’s often a good idea to really think about what you expect your life to look like over the next five to 10 years. If you anticipate your family growing, you may want to purchase a home with more square footage. Meanwhile, if you expect to send your teenage children off to college, you may prefer to buy a smaller residence or one that’s equipped for you to age in place.   “Visit homes multiple times before making an offer because you tend to see things differently each time,” said Morgan. You want to make sure you can see yourself living in this residence. It may also help to talk to family and friends about the amenities that are must-haves and those that are only nice-to-haves or not as important as you initially thought. # Homebuyer regret No. 4: They don’t love the location https://preview.redd.it/lppxmb87f0qg1.png?width=1125&format=png&auto=webp&s=be9970d5e9b44fe12d9df8a5788ead75e8c1e05a The neighborhood may not be family-friendly without nearby parks or other couples with kids. Or on the flip side, is too loud and rambunctious for an empty-nest couple seeking peace and tranquility. Think about what’s important to you. Is it being in a walkable community, having a short commute to work, or being close to restaurants and entertainment? Then it may be worth buying a condo or townhome to be closer to what you value than purchasing a larger, single-family home further away. “Drive around the neighborhood at different times of the day or night to get a better feel for the area,” said Morgan. If you have children, be sure to research the schools they’ll be attending. “Search online or better yet, call the school district directly and ask them specific questions,” said Morgan. “I also recommend doing online research about crime rates in the area or calling the local police department to ask about safety.” # Homebuyer regret No. 5: You bought under pressure Feeling like you bought a home under pressure is yet another common regret felt by some homebuyers. This can happen when buyers get caught up in the emotions of landing their “perfect” home in highly competitive markets where sellers are receiving multiple offers for their homes. So, you get swept up in the excitement and wind up having an offer accepted on a home you’re not really crazy about. The best way to avoid this mistake is to balance emotions with logic when deciding whether to make an offer on a home. Make sure to ask yourself if you can really afford the home, if you’re not overpaying for it, if it meets your needs, and if it’s in a community where you want to live. “This will help ensure that you buy the home you truly want at a price you can afford,” said Morgan. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/h75i9smhnupg1.png?width=1600&format=png&auto=webp&s=206c1736a8749986be8f05a7d60ab2b314062ee3 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) March 18, 2026 Homebuyers hoping for a big interest rate cut at the start of the spring housing market were disappointed. But [mortgage rates](https://www.newamericanfunding.com/mortgage-rates/) may still come down. The U.S. Federal Reserve held its rates steady at its March meeting, largely due to fears that the war in Iran and higher oil prices could lead to an uptick in inflation. The Fed typically keeps rates high to combat inflation and hikes them to give the economy a boost when unemployment rises. While mortgage rates are separate from the Federal Funds rate, they generally move in the same direction. So, if the Fed indicates it’s likely to lower its rates, mortgage rates generally come down. “The \[Fed\] will not change rates given the war in Iran and the elevated oil prices that are likely to add to short-term inflation,” said New American Funding’s Chief Investment Officer Jason Obradovich. “Despite a recent job report indicating weakening employment across the U.S., the inflation concerns are outweighed any potential softness in the economy.” Mortgage rates had briefly fallen below 6% last month, but climbed after the war began and oil prices sharply increased. “Rates will remain higher until the oil market calms down,” said Obradovich. “Then we could see a drop in rates right afterwards.” He expects the Fed will cut rates at least twice this year once oil prices fall. In the meantime, Obradovich doesn’t expect the Fed’s decision will hurt the spring housing market. It’s more affordable to buy a home today than it was a year ago thanks to a combination of lower mortgage rates and home prices. Mortgage rates are about half a point lower than last March. They averaged 6.11% for 30-year, fixed-rate loans in the week ending March 12, compared to 6.65% last year, according to [Freddie Mac data](https://www.freddiemac.com/pmms). Meanwhile, home list prices were down 2.1% year-over-year in March to a median of $403,450, according to the most recent [Realtor.com data.](https://www.realtor.com/research/data/) “The higher rates today are not materially high \[enough\] to impact the market,” said Obradovich. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/zooha53ogtpg1.png?width=1600&format=png&auto=webp&s=1363ad452bba7a853bdfdedda8de2b8292b58525 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 18, 2026 As the spring housing market starts to pick up, buyers may finally be seeing a few encouraging signs, especially if they know where to look.  Home prices are coming down a little, mortgage rates [have eased](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-tick-up-but-remain-well-below-2025-levels/), and affordability is improving after several tough years for homebuyers. In some housing markets, they may still be able to find deals if they're open to relocating.  Nationally, the median price on a home for sale in February ticked down 2.1% year-over-year to $403,450, according to the latest [Realtor.com data](https://www.realtor.com/research/February-2026-data/). Meanwhile, homes are staying on the market a bit longer, with a median of 70 days on the market. That’s four days longer than a year ago, giving buyers a little more breathing room. Improving affordability could make the coming spring market one of the more approachable buying seasons in recent years. # How homebuyers can save money in today’s housing market Homebuyers who are willing to relocate may be able to save big money. Indeed, buyers who shop for homes in more affordable metropolitan areas could save six figures on a home, while still purchasing in major housing markets with strong economies and growing populations. In today’s market, that gap can greatly reduce both down payments and monthly mortgage expenses. For example, a buyer purchasing a $403,450 home at the national median price with a 10% [down payment](https://www.newamericanfunding.com/learning-center/homebuyers/saving-for-a-down-payment-is-getting-easierand-help-is-available/) would borrow roughly $363,105. At a 6% mortgage rate, the monthly principal and interest payment would be about $2,177. But if that same buyer purchased a home $150,000 cheaper, around $253,450, their loan would drop to about $228,105 after the same 10% down payment. At the same rate, the monthly payment would fall to roughly $1,368. That’s a savings of about $800 per month, or nearly $9,700 per year, simply by purchasing in a cheaper market. Below are 10 of the most affordable of the 50 largest metropolitan areas. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.) https://preview.redd.it/fqkig05sgtpg1.png?width=1125&format=png&auto=webp&s=0f9e3ed0218307ad427bc6625c39ed397c4f3232 # 1. Detroit **Median list price:** $235,000 **Savings vs. national median:** $168,450 Detroit remains one of the most affordable major housing markets in the country. Buyers can find significantly larger homes for the same price they might pay for a starter home elsewhere. “Detroit offers an affordable cost of living with a variety of housing options just outside the downtown area,” said [Jason Gelios](http://www.jasongelios.com/), a senior real estate specialist at Community Choice Realty in southeast Michigan. “Many are located only minutes from the city’s top amenities, including fine dining, entertainment venues, and cultural attractions.” # 2. Pittsburgh **Median list price:** $238,450 **Savings vs. national median:** $165,000 Pittsburgh combines relatively low home prices with reliable demand. The price is still fairly affordable, even though prices have risen 4.1% year-over-year. That demonstrates the market’s resilience even as other markets soften. # 3. Cleveland **Median list price:** $241,220 **Savings vs. national median:** $162,230 Cleveland offers another entry point for buyers priced out of more expensive regions. The Midwestern city sits on the banks of Lake Erie, between Detroit and Buffalo, N.Y. # 4. Buffalo, N.Y. **Median list price:** $249,900 **Savings vs. national median:** $153,550 Buffalo remains one of the most affordable housing markets in the Northeast. Despite lower prices, homes here sell faster, spending 13 fewer days on the market than last year. That shows strong local demand. # 5. St. Louis **Median list price:** $278,175 **Savings vs. national median:** $125,275 St. Louis offers buyers an affordable road to homeownership. Prices in the metro have risen by 0.5% year-over-year, while housing stock has grown by over 10%, offering more options for buyers. # 6. Birmingham, Ala. **Median list price:** $289,000 **Savings vs. national median:** $114,450 Birmingham, about 150 miles west of Atlanta, combines moderate home prices with a relatively stable housing market. # 7. Memphis, Tenn. **Median list price:** $299,450 **Savings vs. national median:** $104,000 Memphis is another metro where buyers can still find homes under $300,000. Prices have declined 8.7% year-over-year, one of the largest drops among major markets. This may open opportunities for buyers looking to negotiate. # 8. Louisville, Ky. **Median list price:** $300,000 **Savings vs. national median:** $103,450 Housing stock in this metro has surged 27.3% year-over-year. This gives home hunters more choices, and leverage, than they had a year ago. # 9. Indianapolis **Median list price:** $309,950 **Savings vs. national median:** $93,500 Indianapolis continues to attract buyers seeking a balance between affordability and job growth. # 10. Oklahoma City, Okla. **Median list price:** $315,000 **Savings vs. national median:** $88,450 Oklahoma City rounds out the list, with a median list price still comfortably below the national midpoint. Housing stock has increased 11.5% year-over-year, signaling more choice for buyers entering the market this spring. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/w4idkjlp4npg1.png?width=1600&format=png&auto=webp&s=d7dd6e6e455dd4f4518d67d51685c91dd2b365ea By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) March 17, 2026 The housing market began to thaw in February as more homes went under contract. Pending home sales increased 1.8% in February from January, according to the [National Association of Realtors (NAR)](https://www.nar.realtor/research-and-statistics/housing-statistics/pending-home-sales). However, they ticked down 0.8% from February of last year. Pending home sales is a forward-looking indicator based on signed real estate contracts. When they rise, home sales will likely go up in the coming months as those deals close. The opposite is also true should fewer homes go under contract. The modest rise in sales in February was likely due to [mortgage rates easing](https://www.newamericanfunding.com/learning-center/housing-news/the-wait-is-finally-over-mortgage-rates-finally-drop-below-6/), briefly dipping below 6% in February, according to [Freddie Mac data](https://www.freddiemac.com/pmms). “The slight gain in pending contracts appears to be driven by improved affordability conditions,” said NAR Chief Economist Lawrence Yun in a statement. “However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates.” Most of the decline in pending sales was in the Northeast, which was pummeled by winter storms. The region has also been constrained by high home prices and a lack of properties for sale. About 3.6% fewer homes went under contract in the Northeast from January to February, according to NAR. The region also notched the largest annual decline with 12.1% fewer pending sales year-over-year. The Midwest had the highest monthly rise in pending sales, increasing 4.6%. Annually, pending sales were essentially flat, ticking down 0.1% year-over-year. In the South, about 2.7% more homes went under contract compared to the prior month. Pending sales also increased 1.2% year-over-year. The West also experienced a bump, with pending sales up 0.9% month-over-month and rising 3.2% year-over-year. Five of the 50 largest metropolitan areas saw double-digit spikes in annual pending home sales in February, according to NAR. (Metros include the main city, surrounding towns and suburbs, and smaller urban areas.) San Diego experienced the biggest jump, with pending sales rising 13.5% year-over-year. It was followed by Jacksonville, Fla., at 12.1%; San Jose, Calif., at 10.6%; Denver, at 10.5%; and Miami, at 10%. “For first-time homebuyers, purchasing a home is not a snap decision,” Yun said. “It takes time to build credit, save for a down payment, and fulfill existing rental lease agreements. Still, there is sizable pent-up demand that could be released into the market.” [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/yqnf7oaobmpg1.png?width=1600&format=png&auto=webp&s=55b0a02b027724ce4a96936540fea84b4d08daa1 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 17, 2026 After years of stubbornly high mortgage rates, homeowners may finally be catching a break. Mortgage rates have edged to about [6% in recent weeks](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-remain-near-lowest-level-since-2022/), with a brief dip into high-5% territory earlier this year. Even small changes in rates can impact [refinancing ](https://www.newamericanfunding.com/refinance/)options, making it possible for millions of homeowners to [lower their monthly mortgage payments](https://www.newamericanfunding.com/learning-center/homebuyers/small-interest-rate-drops-big-savings-what-a-1-difference-means-for-mortgages-and-refinances/). Indeed, about 5.4 million borrowers are currently “in the money” to refinance. That means they could reduce their mortgage rate by at least three-quarters of a percentage point, according to ICE Mortgage Technology’s latest [Mortgage Monitor report](https://mortgagetech.ice.com/resources/data-reports?tagIdGroups=&requiredTagIds=161812%2C161815&activeOnly=false). Indeed, the typical borrower who refinanced in late 2025 reduced their monthly mortgage payment by about $248, according to ICE. “This is a great time to take a hard look at your current mortgage and ask yourself if it’s still working for you,” said real estate agent [Jimmy Welch](https://www.jimmywelch.com/) of the Jimmy Welch Team Keller Williams in Louisville, Ky. “If you bought when rates were higher, refinancing could lower your payment and free up cash for other projects.” The shift is already impacting the mortgage market. Refinancing activity surged notably in late 2025, as more homeowners capitalized on lower rates. For homeowners who bought or refinanced when borrowing costs rose above 7% in recent years, the logic behind refinancing may make sense. Here’s what homeowners considering a refinance need to know. # Why homeowners are refinancing their mortgages More homeowners have been refinancing their home loans as mortgage rates have declined over the past several months. In the fourth quarter of 2025, there were roughly 1.44 million purchase and refinance loans originated, the highest quarterly total since the third quarter of 2022, according to ICE data. Refinances made up nearly 40% of all mortgage lending, with around 565,000 refinance loans closed during the quarter. That’s roughly 50% more than a year earlier, according to ICE. Much of that activity comes from homeowners who bought homes between 2022 and 2024 when mortgage rates were solidly above 7%. As rates now gradually decrease, even small drops can lead to noticeable monthly savings. The amount can vary based on an owner’s loan size and the difference between a borrower’s current rate and today’s market rates. But even small decreases in mortgage rates can reduce monthly housing costs. [Ready to Refinance?](https://www.newamericanfunding.com/df/home-loans-hau/) # How much does it cost to refinance your mortgage? https://preview.redd.it/wvzg863sbmpg1.png?width=1125&format=png&auto=webp&s=6b622e5d80ddb3ca37ef99dfe8dd67d9f2245ddd Before refinancing, homeowners should remember that it comes with upfront costs. [Closing costs](https://www.newamericanfunding.com/learning-center/homebuyers/how-much-are-closing-costs/) typically range from 2% to 6% of the loan amount and cover lender fees, [title insurance](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-title-insurance-and-how-can-it-save-you-money-in-the-long-run/), and appraisal charges. Because of these costs, homeowners often calculate a [break-even point](https://www.newamericanfunding.com/learning-center/homeowners/homeowners-heres-how-to-calculate-the-mortgage-refinance-break-even-point/) before refinancing. This represents the time required for monthly savings to offset the upfront expenses. For example, a homeowner who saves $200 a month after refinancing a loan that costs $6,000 to close would reach the break-even point in about 30 months. Borrowers planning to stay in their homes longer than that may benefit from refinancing. Those expecting to sell sooner might not recover the upfront costs. # Saving money isn’t the only reason to refinance a home loan Lower monthly payments are the primary reason homeowners refinance, but they may also refinance to reach other financial goals. Some borrowers refinance to shorten the length of their loan, switching from a 30-year mortgage to a 15-year one. This can raise monthly payments, but greatly cut long-term interest costs saving them money over time. It may also help homeowners build [equity](https://www.newamericanfunding.com/learning-center/homeowners/what-is-home-equity/) faster. Others refinance to replace an [adjustable-rate mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/adjustable-rate-mortgages-are-back-heres-what-you-need-to-know/) with a [fixed-rate loan](https://www.newamericanfunding.com/learning-center/homebuyers/fixed-rate-or-adjustable-rate-mortgages-which-home-loan-is-right-for-you/), creating more predictable monthly payments over time. And some homeowners refinance to get rid of [mortgage insurance](https://www.newamericanfunding.com/learning-center/videos/what-is-mortgage-insurance-why-it-could-affect-your-bottom-line/) on their loan, saving them money each month. Each option impacts a homeowner’s long-term financial plan differently. A new 30-year loan can lower monthly payments but might lengthen the repayment period. Shorter loans may raise payments but can help homeowners become mortgage-free faster. [Start Your Refinance Here](https://www.newamericanfunding.com/df/home-loans-hau/) # Why home equity and credit scores matter when homeowners refinance their loans Borrowers with strong [credit scores](https://www.newamericanfunding.com/learning-center/homebuyers/understanding-your-credit-report-what-homebuyers-need-to-know/) and significant home equity generally qualify more easily for refinancing. Homeowners who have built at least 20% equity in their homes can avoid paying [private mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/), which can add hundreds of dollars per month to housing costs. Strong credit scores also help borrowers qualify for lower interest rates and fewer fees. # Other reasons to refinance your home loan https://preview.redd.it/7xplm7pubmpg1.png?width=1125&format=png&auto=webp&s=0624cba0aba10e53996ddbd44f64d7cc91ad446a Refinancing is becoming more common to alter a household’s overall financial plan. Some homeowners refinance to consolidate higher-interest debt, such as using [cash-out refinances](https://www.newamericanfunding.com/refinance/cash-out-refinance/). Others refinance to afford [renovations](https://www.newamericanfunding.com/learning-center/homeowners/how-to-renovate-your-home-with-your-future-in-mind/), expand living space, or build [accessory dwelling units](https://www.newamericanfunding.com/learning-center/homeowners/looking-for-ways-to-boost-your-income-consider-an-accessory-dwelling-unit-in-your-backyard/). As mortgage rates fluctuate, refinancing decisions will still rely on a mix of factors. These include loan size, credit profile, and the length of time a homeowner plans to stay in the property. For many borrowers who bought homes during the recent period of high mortgage rates, however, the refinancing window may finally be opening again. And if mortgage rates keep drifting lower, millions more homeowners may find it could pay off to refinance. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/3mqtf06xcgpg1.png?width=1600&format=png&auto=webp&s=0652af68e9f4c55d8fcb8839d7660c15107d7f9a By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 16, 2026 The White House is instructing federal agencies to closely examine regulations governing housing construction and mortgage lending as part of a new effort to address the country’s ongoing housing affordability issues. On Friday, President Donald Trump signed two [executive orders](https://www.whitehouse.gov/presidential-actions/2026/03/removing-regulatory-barriers-to-affordable-home-construction/). They directed federal agencies, including the U.S. Department of Housing and Urban Development and the Federal Housing Finance Agency, to identify regulations that may be hindering residential development or making it more difficult for lenders to provide home loans. A second [executive order](https://www.whitehouse.gov/presidential-actions/2026/03/promoting-access-to-mortgage-credit/) aims to make it easier for homebuyers to secure mortgages. It proposes expanding the definition of qualified mortgages under the oversight of the Consumer Financial Protection Bureau. It would also establish more specific requirements for banks of various sizes and update the appraisal process to enable increased use of AI-based property valuations. “We agree with the administration’s focus on addressing costly mortgage regulations that have increased costs and limited access to credit,” said Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit in a statement. The move came a day after the Senate approved the bipartisan [21st Century ROAD to Housing Act](https://www.congress.gov/bill/119th-congress/house-bill/6644) legislation. It was geared toward boosting housing supply and cutting regulatory hurdles that can delay new construction. The efforts reflect growing attention in Washington on reducing red tape as housing affordability remains a concern for buyers nationwide. # A presidential focus on increasing the housing supply One of the executive orders requires federal agencies to review regulations that could delay residential building or raise costs. The order urges agencies to identify rules governing permitting, environmental review, and other regulatory processes that may slow housing development. The aim, according to the [White House fact sheet](https://www.whitehouse.gov/fact-sheets/2026/03/fact-sheet-president-donald-j-trump-removes-regulatory-barriers-to-affordable-home-construction/), is to eliminate barriers that could be restricting the pace of new construction. Housing economists often cite housing supply shortages as a major factor driving up home prices. Many areas have struggled to build enough new homes to keep up with population growth and demand. Federal officials state that the review aims to determine whether specific requirements can be streamlined while still upholding safety and environmental standards. If agencies ultimately revise or eliminate some of those regulations, the administration argues that this could lower development costs and speed up the construction of new homes. # Mortgage rules are also under review A second executive order addresses mortgage lending and home loan costs. Officials say the purpose of the review is to determine whether regulatory changes could help lower costs or increase access to home loans. The directive instructs the federal regulator, the Consumer Financial Protection Bureau, to review rules that the administration claims may have discouraged smaller lenders from providing mortgages or limited credit availability for potential homebuyers. The review will examine whether modifications to those regulations could make borrowing easier for qualified buyers while maintaining proper lending safeguards, according to the [White House](https://www.whitehouse.gov/presidential-actions/2026/03/promoting-access-to-mortgage-credit/). # President Trump’s broader housing push The executive orders expand on several other housing-related initiatives announced earlier this year. The administration previously encouraged [Fannie Mae and Freddie Mac](https://www.newamericanfunding.com/learning-center/housing-news/fannie-mae-and-freddie-mac-could-be-going-public.-what-it-could-mean-for-homebuyers-and-homeowners) to expand their purchases of mortgage-backed securities to support the mortgage market. This temporarily [brought mortgage rates down](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-fall-to-three-year-low-after-trump-pushes-for-housing-affordability/). Federal officials have also examined proposals to ban institutional investors from [buying up homes](https://www.newamericanfunding.com/learning-center/housing-news/would-president-trumps-ban-on-big-investors-buying-single-family-homes-bring-down-housing-costs/) in the single-family housing market. Together, the policies aim to address various factors influencing affordability, such as housing supply, borrowing costs, and market competition. # Will Trump’s executive orders make housing cheaper? Executive orders primarily direct federal agencies to review and assess existing regulations. So, any updates to rules governing construction or mortgage lending would likely take some time. Agencies must first carry out their regulatory reviews and identify which policies could be updated or removed. Some changes might also need formal rulemaking or Congressional approval. As a result, it may take some time for the housing market to feel the impact of these executive orders. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/gueg5cltafpg1.png?width=1600&format=png&auto=webp&s=e5bc93414eec0a697a9137232758d8ecb996c781 By [Tim Maxwell](https://www.newamericanfunding.com/learning-center/authors/tim-maxwell/) March 16, 2026 Every month, millions of homeowners pay for [mortgage insurance](https://www.newamericanfunding.com/learning-center/videos/what-is-mortgage-insurance-why-it-could-affect-your-bottom-line/). The good news is they may soon be able to get some of that money back. The federal government reinstated the [private mortgage insurance (PMI)](https://www.newamericanfunding.com/learning-center/homebuyers/what-is-pmi-what-you-need-to-know-and-how-you-can-avoid-it/) tax deduction for 2026. That means the majority of homeowners who pay mortgage insurance for Conventional and government-backed loans may be able to write off those premiums when they file their tax returns in 2027. More than 800,000 homeowners who purchased properties in 2024 were paying mortgage insurance, according to [U.S. Mortgage Insurers](https://www.usmi.org/press-release-new-report-800000-low-down-payment-borrowers-purchased-homes-in-2024-with-private-mortgage-insurance/). If you have mortgage insurance, the tax savings could be meaningful. For example, if you pay $3,000 in PMI this year, the deduction could save you around $660 at tax time if you itemize and qualify for the write-off. Here’s what you need to know about the PMI tax deduction and how it may reduce your tax bill. # What are PMI and MIP on a home? Private mortgage insurance (PMI) is typically required by lenders when you buy a home with a [Conventional loan](https://www.newamericanfunding.com/loan-types/conventional-loan/) and don’t make a down payment of at least 20%. It’s designed to protect the lender’s investment (the money they lent you) if you stop making your mortgage payments. The cost of PMI can range from $30 to $70 for every $100,000 you borrow, according to [Freddie Mac](https://myhome.freddiemac.com/blog/homeownership/20190913-private-mortgage-insurance). On a $400,000 loan, it would cost between $120 and $280 a month. “PMI exists to protect the lender,” said Gene Bott, vice president and senior tax advisor at [Tax Hive](https://taxhive.com/) in Salt Lake City, Utah. “A homeowner gets from it is the ability to buy a home with less than a 20% down payment.” Typically, your lender rolls this PMI into your monthly mortgage payment for convenience. If you have a [government-backed mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/what-are-government-insured-mortgages/), such as a [Federal Housing Administration (FHA)](https://www.newamericanfunding.com/loan-types/fha-loan/), [U.S. Department of Veterans Affairs (VA)](https://www.newamericanfunding.com/loan-types/va-loan/) or [U.S. Department of Agriculture (USDA)](https://www.newamericanfunding.com/loan-types/usda-loan/), the PMI equivalent is called mortgage insurance premium (MIP). It’s required on all FHA loans regardless of your down payment amount. With MIP on an FHA loan, you pay 1.75% of the loan amount upfront at closing and between 0.15% and 0.75% of the loan amount each year. Using the $400,000 mortgage example, your upfront MIP payment for an FHA loan would be $7,000 at closing, plus between $50 and $250 a month added to your mortgage payment each year. Fortunately, both PMI and MIP are deductible under the new 2026 tax rules. [Request Quote](https://www.newamericanfunding.com/df/home-loans-hau/) # How much could the PMI deduction reduce your taxes? https://preview.redd.it/86dkdjioafpg1.png?width=1125&format=png&auto=webp&s=1de2cfc57fad82b576ddea3b43a20e4bbc4665b8 The biggest benefit of the mortgage insurance deduction is that it puts money back in your pocket. “For those paying $150 a month, this can give the taxpayer an additional $1,800 in deductions,” said Bott. When the PMI deduction was last available in 2021, the average taxpayer deduction for it was $2,346, according to [U.S. Mortgage Insurers](https://www.usmi.org/mortgage-insurance-tax-deductible-once-again/#:~:text=For%20tax%20years%202007%20through,D%2DCA%2D19).). Bott also noted that the deduction is especially helpful for homeowners in higher-cost markets. Larger loan amounts leave homeowners with larger PMI payments and, subsequently, a bigger potential write-off. # How to claim the PMI deduction on your taxes The PMI deduction only pays off if you [itemize your deductions](https://www.newamericanfunding.com/learning-center/homeowners/tax-deductions-homeowners-must-know-before-filing-this-year/) instead of taking the standard deduction on your taxes. For 2026, the standard deduction is $16,100 for single filers and $32,200 for married couples filing jointly, according to the IRS. If your total deductions are greater than those amounts, you may be able to claim your PMI deduction in 2027. Here’s how to do it: 1. **Check your income.** Single filers may claim the full deduction if their adjusted gross income is below $50,000. Married couples filing jointly qualify up to $100,000. The deduction reduces gradually if you earn more than that. But the deduction disappears completely for single filers who have an adjusted gross income above $54,500 and for married couples filing jointly who have an adjusted gross income above $109,000. 2. **Confirm your home loan qualifies.** You may only claim the deduction if your mortgage balance is $750,000 or less. 3. **Get your** [**Form 1098**](https://www.newamericanfunding.com/learning-center/homeowners/how-to-use-form-1098-to-claim-tax-deductions-on-your-mortgage-refinance/)**.** Your lender should send you this form in January. It shows your mortgage interest paid for the year. 4. **File Schedule A with your income taxes.** Schedule A is the IRS form where you list itemized deductions. Beginning next year, you can report eligible mortgage insurance premiums there alongside your mortgage interest. If you’re unsure about your eligibility for the deduction, consult a tax consultant or tax preparation software to confirm. [Start Your Application](https://www.newamericanfunding.com/df/home-loans-hau/) # How to get rid of PMI and other mortgage insurance https://preview.redd.it/aks5j30rafpg1.png?width=1125&format=png&auto=webp&s=c0833040fb59fcb0ce920f646896d52f1668ed08 Fortunately, you may be able to [get rid of PMI](https://www.newamericanfunding.com/learning-center/homeowners/how-to-get-rid-of-private-mortgage-insurance/) on Conventional loans once you have 20% equity in your home. You may reach that point by reducing your loan balance or if your home value rises, or a mix of both. Unfortunately, it’s much harder to cancel MIP on government loans. If you took out an FHA loan after June 3, 2013, MIP may be removed after 11 years only if you made a down payment of at least 10% when you purchased the property. If you can’t cancel MIP, refinancing into a Conventional loan may be an option. If you already have 20% equity in the property, you won’t owe PMI on the new loan either. # The bottom line on mortgage insurance tax deductions Every dollar you pay in mortgage insurance this year may reduce your taxable income when you file your income taxes next spring. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/ry3uysvvrtog1.png?width=1600&format=png&auto=webp&s=d55110376ee97ddfdcc395e403d6f1ed07eae4e0 By [Rachel Murphy](https://www.newamericanfunding.com/learning-center/authors/rachel-murphy/) March 13, 2026 [Real estate investors](https://www.newamericanfunding.com/learning-center/homebuyers/live-out-your-real-estate-investor-dreams-5-investor-myths-busted/) who already own one or two rental properties may be sitting on a financial opportunity they might not have realized. If you financed your current properties with a [Debt Service Coverage Ratio loan](https://www.newamericanfunding.com/learning-center/homebuyers/interested-in-being-a-real-estate-investor-the-dscr-mortgage-may-be-right-for-you/), also known as a DSCR loan, a [cash-out refinance](https://www.newamericanfunding.com/learning-center/homeowners/considering-a-cash-out-refinance-how-your-home-may-be-able-to-help-you-pay-your-bills/) could give you the funds to expand your real estate portfolio without going through a lengthy loan approval process. The strategy is straightforward. With a cash-out refinance, you typically replace your existing mortgage with a new, larger one and then pocket the difference. So, you [refinance the mortgage](https://www.newamericanfunding.com/refinance/) on your existing rental property, pull out equity in the form of cash, and use that money as a down payment on your next investment property. [DSCR loans](https://www.newamericanfunding.com/loan-types/non-qm-loan/dscr-loan/) are tailored for investors because they focus on the income potential of the properties instead of your personal income. Investors may be able to secure a cash-out refinance for one of these loans even if they don’t have a high credit score. “There is no income verification,” said Diana Pollard, a New American Funding loan officer based in Charlotte, N.C. “The loan is based on the appraisal and potential rental income of the property you’re financing.” That makes these refinances particularly valuable for investors whose rental income is strong, but whose personal tax returns might not show the income needed for traditional financing. The property does the talking. Let’s look at how a cash-out refinance on a DSCR loan may be able to help you purchase additional investment properties. # What are the benefits of a DSCR cash-out refinance? https://preview.redd.it/dzxznc9zrtog1.png?width=1125&format=png&auto=webp&s=e1b80e81d0a2b3546bc1a99730c6d793b80ef513 Savvy investors know that DSCR loans enable smaller investors to get into the real estate game, even if they don’t have a high-paying job and a stellar credit score. That’s because DSCR loans are made based on the projected profitability of the property. To figure out the debt service coverage ratio of an investment property, lenders look at how much money the property is expected to generate a month. This number is divided by the total monthly mortgage payment, which includes the principal, interest, taxes, and insurance. Lenders want to see answers to that equation that are at least 1.25 or higher. Although DSCR loans don’t require personal income verification, they typically require a larger down payment than a mortgage for a home you plan to live in. A 20% down payment is typically the minimum required as well as several months of cash reserves. Investors who do a cash-out refinance on a DSCR loan may need to put down up to 50% of their equity if their credit scores are lower. “The proceeds \[from the refinance\] can be used to purchase a new property (including making a cash offer), fund renovations or a flip project, or pay off existing debt,” said Pollard. Since investment properties are often in high demand, having the ability to make a cash offer or a larger down payment might be the difference between landing your next flip or losing it to a competitor with deeper pockets. You will need a credit check for a DSCR cash-out refinance. Some lenders may request a list of other investment properties owned, but those properties are not used for verification purposes, and full documentation is not required. # What are the risks of DSCR cash-out refinances? A drawback of doing a cash-out refinance of a DSCR loan is potential prepayment penalties. DSCR loans are typically available for 15-, 20-, and 30-year terms. But if you refinance the loan or sell the property earlier, you may be subject to these penalties. And loans without these penalties may have a higher interest rate. However, freeing up that cash to buy new properties and the opportunity to lock in a lower mortgage interest rate, if rates fall, may offset the fees enough to make it worth it. That makes using your existing properties to help you expand your real estate portfolio something you may want to consider. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/li0wpjmggnog1.png?width=1600&format=png&auto=webp&s=1a89ebfbfbe82f0d6964c95bfca419850a13fa46 By [Ben Lane](https://www.newamericanfunding.com/learning-center/authors/ben-lane/) March 12, 2026 After [recently falling](https://www.newamericanfunding.com/learning-center/housing-news/the-wait-is-finally-over-mortgage-rates-finally-drop-below-6/) to their lowest level in nearly four years, [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) have increased ever so slightly. But rates still remain well below where they were a year ago. Mortgage rates averaged 6.11% for 30-year, fixed-rate loans in the week ending March 12, according to [Freddie Mac](https://www.freddiemac.com/pmms). That’s up a bit from where they were [last week](https://www.newamericanfunding.com/learning-center/housing-news/mortgage-rates-remain-near-lowest-level-since-2022/), when rates were 6% flat. However, rates are still down substantially from where they were during the same time period in 2025. A year ago, they averaged 6.65%. Those lower rates are helping to drive more prospective homebuyers into the market as they make purchasing a home more affordable. The rates are also giving existing homeowners more opportunities to save money with a [refinance](https://www.newamericanfunding.com/refinance/). Overall, applications for new mortgages were up 4.1% week-over-week in the week ending March 6, according to the [latest data](https://www.mba.org/news-and-research/newsroom/news/2026/03/11/mortgage-applications-increase-in-latest-mba-weekly-survey) from the Mortgage Bankers Association. Even small decreases in interest rates can help to [bring down the size](https://www.newamericanfunding.com/learning-center/housing-news/heres-how-much-money-homebuyers-will-save-with-every-mortgage-rate-drop/) of monthly mortgage payments and can help to [boost buying power](https://www.newamericanfunding.com/learning-center/housing-news/homebuyers-your-purchasing-power-went-up-how-much-more-home-you-can-afford-with-every-rate-drop/). Purchase mortgage applications (those used to buy a home) were up 9.3% over the previous week, the MBA report showed. They were up 11% from the same week in 2025. “The pace of homebuying continues to track ahead of last year’s pace, with overall purchase volume up 10%,” MBA Chief Economist Mike Fratantoni said in a statement. “More inventory on the market is supporting more transactions.” The lower rates are also giving the housing market a boost. Refinance applications were up slightly, 0.5%, from the previous week, according to MBA. But they shot up 81% from 2025, as more homeowners are taking advantage of 2026’s lower rates. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/misfdb8u9nog1.png?width=1600&format=png&auto=webp&s=58c76257452caf82803a95bc6239d70a2b07e2a3 By [Clare Trapasso](https://www.newamericanfunding.com/learning-center/authors/clare-trapasso/) March 12, 2026 Homebuyers are about to have more new homes to choose from. Homebuilders kicked off the year by starting construction on more [new residences](https://www.newamericanfunding.com/loan-types/one-time-close-construction-loan/), especially new condos and apartments. Housing starts were up 7.2% in January from December, according to the [latest U.S. Census Bureau and U.S. Department of Housing and Urban Development data](https://www.census.gov/construction/nrc/pdf/newresconst.pdf). Builders began construction on 9.5% more homes in January 2026 than they did the same month a year ago. That puts builders on pace to start work on 1.49 million new homes this year. But while construction on multi-family units, which include condos and apartments, surged, starts on single-family homes declined. Construction fell on single-family homes by 2.8% month-over-month in January and starts were down by 6.5% compared to January 2025. “The single-family market has slowed as builders continue to deal with elevated construction costs, while affordability conditions are a cause of concern for many potential homebuyers,” said National Association of Home Builders Chairman Bill Owens in a statement. Some of the slowdown in single-family home construction may be due to winter storms that pummeled the Northeast this winter. Housing starts for these standalone homes dropped 33.3% from December to January. “Some of the softness may reflect temporary disruptions,” said First American Deputy Chief Economist Odeta Kushi in a statement. The good news for buyers is nearly 5% more homes were completed in January than in December, according to the government data. However, the number of finished homes was down about 7.5% year-over-year in January. And the number of permits to put up new homes, an indicator of future new homes for sale, fell in January. Permits were down for January by 5.4% month-over-month and by 5.8% year-over-year, according to the data. “While [mortgage rates](https://www.newamericanfunding.com/mortgage-rates/) fell in January, affordability is still stretched, and single-family builders appear to be proceeding cautiously,” Kushi said in a statement.  [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/z5o5552jnmog1.png?width=1600&format=png&auto=webp&s=00e1f0f42931b2421cf5ffad4ac8ce24aa0116ca By [Greg Shillinglaw](https://www.newamericanfunding.com/learning-center/authors/greg-shillinglaw/) March 12, 2026 In a housing market known for high prices and a shortage of homes for sale, it could be tempting for first-time buyers to simply give up. But that decision could cost them. [Homeownership](https://www.newamericanfunding.com/learning-center/homebuyers/the-benefits-of-homeownership-is-buying-a-home-right-for-you/) has long been one of the main ways that Americans have traditionally built wealth. Homes typically appreciate in value over time. And instead of paying rent, owners accumulate equity in their properties. For many homeowners who stayed put in their properties, their patience has paid off. Nationally, home values increased by about 180% between December 2000 and December 2025, according to the [Zillow Home Value Index](https://www.zillow.com/research/data/). Since 2015, home values rose 83%. “There are very few other assets that can compare to the advantages of owning a home,” said Norm Miller, an emeritus professor of real estate at the University of San Diego. “Gold, a common inflation hedge, produces no income, no services, and no tax advantages,” he said. “Cryptocurrencies are extremely risky and volatile and again, provide no utility. So, housing is one of the very best choices for the average American.” # Home appreciation: Why home prices generally rise over time It’s impossible to control just how much your home appreciates. It depends on your local market. Home values are generally tied to supply and demand. In markets where there is strong demand and few homes for sale, home values tend to rise higher than where the reverse is true. And there are situations where home values can go down. This happened during the Great Recession, where there was a glut of homes for sale and few buyers for them. Although, prices did eventually begin to rise again. Home values can also fall after a natural disaster or when a major employer leaves an area, leading to less demand for housing. Historically, however, national home prices have recovered and risen over time. # How long should you stay in your home? https://preview.redd.it/jhb5o2wlnmog1.png?width=1125&format=png&auto=webp&s=5fe94140db5ef3ebc5e71a631f30ba38b34d4099 Generally, the rule of thumb is homeowners should stay in their homes for at least five years before selling. This gives them enough time to pay down enough of the balance and for values to increase enough to cover closing costs, so you’re not losing money on the sale. However, the exact amount of time you will need to spend in the home will depend on your local market. And the longer you hold onto your property, the higher your home value is likely to rise. # Building home equity with every mortgage payment When you rent a place, you’re paying your landlord. When you own a home, a portion of your housing payment goes toward yourself. Every monthly mortgage payment chips away at the principal balance of a loan. This is how much money you borrowed to buy a home. This gradually increases a homeowner’s stake in the property. Home equity, the difference between what a home is worth and what the owner still owes, grows in two ways: as the borrower pays down the balance and as the property appreciates in value. “What does make housing special for building wealth is the forced saving that is part of any mortgage,” said Lawrence J. White, a professor of economics at New York University’s Stern School of Business. “Even if prices don't increase, the homeowner gains a larger net ownership position in his or her \[home.\]” And homeowners can often tap into that equity if they need cash. Additionally, homeowners may also be able to deduct mortgage interest and property taxes from their taxes. That may reduce their annual housing costs. # How to tap into your home equity when you need it https://preview.redd.it/kxtlf2gnnmog1.png?width=1125&format=png&auto=webp&s=a905bccf7125871e627411745e7086a806516fa0 One of the underappreciated perks of building home equity is the ability to access it. A [Home Equity Line of Credit (HELOC)](https://www.newamericanfunding.com/learning-center/homeowners/what-homeowners-dont-understand-about-helocsand-why-it-could-be-costing-them/) is like a checkbook to your home equity. Homeowners are approved for a certain amount and then you can take as much of it as you need for a set period of time, generally around five to 10 years. Then you pay it back, typically over 10 to 20 years. Meanwhile, a [cash-out refinance](https://www.newamericanfunding.com/learning-center/homeowners/considering-a-cash-out-refinance-how-your-home-may-be-able-to-help-you-pay-your-bills/) replaces an existing mortgage with a larger loan tied to a homeowner’s home equity. Borrowers often tap the extra cash for debt consolidation, home improvements, or other large expenses. Homeowners with a low mortgage interest rate may also want to consider a [second mortgage](https://www.newamericanfunding.com/learning-center/homeowners/second-mortgages-are-a-great-way-to-access-cashbut-are-they-right-for-you/). This is a separate mortgage secured by the property’s equity. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/0y2pmwmb99og1.png?width=1600&format=png&auto=webp&s=df467347fd6885ca719ad0d5cc734fe60ece8d1e By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 5, 2026 Kitchens remain the most renovated room in most homes as they have become showpieces. However, homeowners’ approach to renovations is evolving as tastes change. Instead of pursuing gorgeous kitchens meant only for resale, more homeowners are choosing options that suit everyday life. There has been a shift toward kitchens that feel calmer, more functional, and easier to live with over the long term, according to the 2026 [U.S. Houzz Kitchen Trends Study](https://www.houzz.com/magazine/2026-u-s-houzz-kitchen-trends-study-stsetivw-vs~184213864). The study tracks how homeowners are actually renovating their kitchens and not just what’s saved on Pinterest. “Kitchen renovations are increasingly shaped by broader housing market pressures,” said Marine Sargsyan, Houzz’s head of economic research, in a statement. “With aging housing stock, a shortage of available homes, and longer homeowner tenure, more homeowners are choosing to invest in improving the functionality of the kitchens they already have rather than move.” Many homeowners are turning to home equity loans, such as [Home Equity Lines of Credit (HELOCs)](https://www.newamericanfunding.com/refinance/home-equity-line-of-credit/) and [cash-out refinances](https://www.newamericanfunding.com/refinance/cash-out-refinance/) to help fund the work. This allows homeowners to spread the costs out over time instead of draining their savings. Here’s what you need to know about how to incorporate these trends wisely (and cheaply) if you’re [renovating](https://www.newamericanfunding.com/learning-center/homeowners/more-homeowners-are-renovating-for-the-long-term-what-to-know-before-starting-a-project/), [buying](https://www.newamericanfunding.com/learning-center/homebuyers/), or planning [to sell](https://www.newamericanfunding.com/learning-center/homeowners/) in the next few years. # Kitchen storage is getting smarter If there’s one throughline in 2026 kitchens, it’s that storage solutions are way in. And kitchen storage is getting larger and smarter. Walk-in pantries are becoming more popular, along with a smaller but growing share of butler’s pantries and prep kitchens.  More than three-quarters of homeowners renovating their homes have added specialty built-in features, according to Houzz data, with pantry cabinets leading the way. “The kitchen and bathroom are the two rooms that have the most planning impact on the future,” said Forrest Webber, founder of [The Trade Table](http://thetradetable.com/), an online home improvement store based in Huntsville, Ala. Homeowners want places to stash everything. After spending more years at home, homeowners desire kitchens that minimize clutter and visual noise. **How to get the look for less:** You don’t need to add square footage to improve storage. Tall pantry cabinets, deeper drawers, and upgraded cabinet interiors often deliver the same benefit as a walk-in pantry, without moving walls. # Wood finishes move front and center of the kitchen https://preview.redd.it/3de9ir2e99og1.png?width=1125&format=png&auto=webp&s=0aab3d458c8af0874568cde33ea0b799ece29958 For years, white kitchens dominated renovation budgets. In 2026, wood has taken the lead. Indeed, wood is now the most popular cabinet finish in renovated kitchens, edging out white for the first time in recent Houzz tracking. Medium wood tones lead the shift, followed by lighter finishes. Architects and designers say the appeal is as emotional as it is visual. “The past trends of lacquer cabinets are losing popularity; they tend to feel cold and impersonal,” said [Jorge Fontan](https://fontanarchitecture.com/), founder of Fontan Architecture in New York, N.Y. “We have a much greater interest as architects and designers at our firm to use more natural wood, which has a warmer and more inviting feel.” Note that this isn’t a shift back to heavy or rustic kitchens. Today’s wood cabinets are usually sleek, with flatter profiles and minimal hardware. **How to get the look for less:** If replacing all your cabinets isn’t realistic, introduce wood selectively. A wood island base, pantry cabinet, or open shelving can soften a kitchen without a full renovation. # Kitchen slab backsplashes continue to rise Tile still dominates kitchen backsplashes, but slab backsplashes are steadily gaining ground. Popular ones include those made from engineered quartz and large-format porcelain. The appeal is simplicity. Slabs reduce grout lines, streamline cleaning, and create a calmer visual backdrop. “Using a slab for a backsplash is the most impactful design choice you can make if you want a kitchen to have a luxury feel,” said Fontan. **How to get the look for less:** A full slab backsplash can be expensive, but homeowners can mimic the effect by extending countertop material behind the range or sink. Large-format tile with minimal grout lines offers a similar look at a lower cost. # Kitchen appliances get more functional, not more obvious Homeowners still invest in upgraded kitchen appliances. But the focus has moved from flashy finishes to features that simplify daily life. Most homeowners are choosing refrigerators with specialty functions such as adjustable temperature zones and maintenance alerts. Ovens with added functionality, including precise temperature control and remote monitoring, are also growing in popularity. In higher-end kitchens, that often shows up in how appliances are grouped and integrated. “People do want the top-of-the-line appliances, which are typically wall ovens,” said Fontan. Rather than dominating the room, these appliances are designed to blend into cabinetry and support cooking routines behind the scenes. **How to get the look for less:** You don’t need to upgrade every appliance at once. Start with the one you use most often. A single well-chosen upgrade can improve your overall design without overwhelming your budget. # How to decide which kitchen upgrades are right for your home https://preview.redd.it/cf96ivnf99og1.png?width=1125&format=png&auto=webp&s=2a98c62ae943793db783f952bfd17b54a40d2b0a Before committing to any kitchen update, step back and ask three questions: * Does this improve how the kitchen functions day-to-day? * Will it still make sense if I sell in a few years? * Can I achieve a great effect without replacing everything? For homeowners planning a big or small renovation, tapping into [home equity](https://www.newamericanfunding.com/refinance/) is a common way to fund these upgrades. Since these loans are secured by existing equity, [interest rates](https://www.newamericanfunding.com/learning-center/homebuyers/this-is-how-much-your-mortgage-interest-rate-will-really-cost-you/) are often lower than those for credit cards or personal loans. However, the math still matters. Buyers and sellers should compare monthly payments, understand how borrowing impacts their budget. They should also avoid over-improving beyond what the home and neighborhood can reasonably support if you decide to sell your home in the future. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/qrudw2i6kfog1.png?width=1600&format=png&auto=webp&s=ba708fa308a3619ba2bd738b84a00ffb5517e0e9 By [Chad Church](https://www.newamericanfunding.com/learning-center/authors/chad-church/) March 10, 2026 As a mortgage professional, I spend a lot of time thinking about why people make (or don’t make) certain financial decisions. One thing I’ve always found puzzling is why more homeowners don’t take advantage of the [Federal Housing Administration (FHA) Streamline Refinance](https://www.newamericanfunding.com/loan-types/fha-loan/can-i-refinance-my-fha-loan/). It’s something FHA borrowers are entitled to, and yet many don’t even realize how straightforward it can be. So, what is an [FHA Streamline Refinance](https://www.newamericanfunding.com/learning-center/homeowners/what-you-need-to-know-about-fha-streamline-refinances/)? It’s a simplified refinance option for homeowners with FHA loans. The new loan may offer you a tangible benefit, like a lower interest rate, a lower monthly payment, or a shorter mortgage term.   The idea is that if you’re already making your mortgage payment, lowering that payment just makes sense. And it’s a win for you. Yet, when I dug deeper, I found that many homeowners don’t understand just how easy it is to [refinance an FHA loan](https://www.newamericanfunding.com/refinance/). There’s no appraisal required. There’s no income verification. You don’t need to provide pay stubs or jump through hoops. And there’s no credit check. Your credit score isn’t relevant here. The only qualifying factor is that you have no more than one 30-day late payment in the past year and no late payments within the last six months. I think fear is holding people back from these loans. They worry there’s a hidden catch or that they won’t qualify because of their credit or income. But with an FHA Streamline, it really is that simple. Plus, lenders typically won’t ask for an appraisal, income documentation, or pull your credit. We just need your mortgage statement and proof of your homeowner’s insurance. Another perk of the loan is the timing. Because of how mortgage interest is calculated, if you refinance after you’ve made your current month’s payment, your first payment on the new loan will often be due the month after next. It’s not skipping a payment. It’s just how the timing works. That means a short-term cash flow benefit, on top of the monthly savings. Ultimately, I hope more people explore the FHA Streamline Refinance, especially those who bought homes in the last three or so years when mortgage rates were higher than they are today. These homeowners may be able to save money on their monthly mortgage payments. And if rates drop again? As long as it’s six months after your last FHA Streamline, you’re eligible to do it again. This is an opportunity to make your loan work better for you. That’s a no-brainer, right? ***Chad Church is a mortgage and housing expert who has helped thousands of families navigate the path to homeownership. With decades of experience in lending and real estate, he provides clear, practical guidance to help homebuyers and homeowners make confident financial decisions.*** [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/ybi7l0lgjfog1.png?width=1600&format=png&auto=webp&s=7f7a52f22aafab186012efc3baf761408ac9f73e By [Anna Baluch](https://www.newamericanfunding.com/learning-center/authors/anna-baluch/) March 11, 2026 Gone are the days when home renovations were reserved only for men. Today, women are defying gender stereotypes and taking on complex home renovations themselves.  In honor of Women’s History Month, we sat down with two female do-it-yourselfers who aren’t afraid to pick up a hammer or a tub of tile grout. They shared their stories on how they got started with home remodels and the lessons they learned along the way.  Homeowners may be able to use a [home equity loan](https://www.newamericanfunding.com/learning-center/homeowners/home-equity-loans-can-provide-much-needed-cash-how-to-choose-the-right-one-for-you/) to help pay for renovations and home improvements. [Home Equity Lines of Credit (HELOCs)](https://www.newamericanfunding.com/refinance/home-equity-line-of-credit/) allow homeowners to only borrow as much as they need. [Cash-out refinances](https://www.newamericanfunding.com/refinance/cash-out-refinance/) replace an existing mortgage with a larger one, so homeowners can pocket the difference. And [second mortgages](https://www.newamericanfunding.com/loan-types/second-mortgage/) allow homeowners to keep their existing home loan and mortgage rate, while tapping into their equity using an additional loan. Whether you’re an aspiring do-it-yourself (DIY) whiz or simply a homeowner looking for inspiration and practical tips, this Q&A has you covered. Questions and answers have been edited for clarity. # [Sara McDaniel](https://simplysoutherncottage.com/about/) **Instagram/TikTok:** u/simplysoutherncottag**e** https://preview.redd.it/cq2yda3kjfog1.png?width=1125&format=png&auto=webp&s=329be2f29813b4fc8d1df9b9c1cacb7706f5046c Sara McDaniel is a renovation enthusiast, entrepreneur, and storyteller based in Minden, La. She’s best known for restoring historic properties, from her own 1926 cottage to renovation projects across her small town. McDaniel also owns The Villas at Spanish Court, a collection of restored short-term rental properties, and Purvéy Minden, a vintage clothing and home décor shop. **Q: How did you get into do-it-yourself renovations?**  **A:** My first renovation was in 1998. It was then that I fell in love with the whole process. But it wasn’t until around 2017 that I started turning my love for real estate into a business.  **What do you love about it?** **A:** My absolute favorite thing is transforming blighted, historic properties into works of art. It brings me great joy to salvage what others see as teardowns and bring them back into functional, livable spaces.  **What are some mistakes you’ve made in your DIY journey?** **A:** You absolutely must check historic properties for environmental hazards like asbestos and lead paint. Once, I purchased \[property\] without doing an environmental assessment, and that alone cost me $80,000 as I had to pay to remove the asbestos. However, everything happens for a reason. That rookie mistake led to one pivotal project where I transformed eight abandoned apartment units in downtown Minden, La. That’s what truly put me on the map.  Most people saw these units as a liability, but I saw potential. The renovation was extremely challenging because the asbestos remediation had to be handled carefully and correctly before we could even begin rebuilding the spaces.  Once the hazardous materials were safely removed, I worked to completely reimagine the property, restoring it into what is now The Villas at Spanish Court, a collection of boutique short-term rental villas in the heart of historic downtown.  That project became a turning point for me. It showed that even the most neglected buildings can be revived with vision and persistence. And it helped spark a larger mission of saving historic properties in my town while creating beautiful places for people to stay and experience Minden. **Do you have any advice for women who want to dive into DIY projects?** **A:** You have to get past the fear and just start. I am self-taught. I didn’t take any courses. I don’t have a degree in design. I simply jumped in with both feet. I made a lot of mistakes along the way, but I learned a valuable skill set that I now apply in my everyday life.  **Which project are you most proud of and why?**  **A:** I am most proud of The Villas at Spanish Court. These were the first apartments in Minden, La, built in 1931. For some reason, still unbeknownst to me, they went out of use in the 1980s and sat vacant, rotting for nearly 40 years. Everyone said they should be torn down.  However, I basically dumped my life savings into buying and renovating them. Now…people are visiting our small town from all over the world.  Some are tourists and others decide they want to stay for good. They’re drawn to the charm of a small Southern town as well as the historic architecture and sense of community that still exists.  It has been really encouraging to watch both tourism and relocation grow as people rediscover what places like Minden have to offer. # [Jenna Luchau](https://www.jennaluchauprograms.com/) Instagram: u/jenna.luchau https://preview.redd.it/3eatvunmjfog1.png?width=1125&format=png&auto=webp&s=0ad1137fafd83fad5718b63ba9a3631e5b2ad3d8 Jenna Luchau is a mom of three young kids living in Los Angeles. She focuses on teaching DIY rather than running a traditional renovation company. Through her online platforms and courses, Jenna helps women learn how to transform their homes themselves and feel confident doing it.  She’s passionate about showing others that creating a home that feels calm, beautiful, and supportive doesn’t hiring professionals for everything. To date, Jenna estimates she’s completed more than 10 larger renovations, along with endless projects and home improvements. **Q: How did you get into DIY renovations?**  **A:** Growing up, my parents had a construction business. So, I’ve always been around it. But it wasn’t until my late 20s, about 2016, when I really got into it myself. I purchased a 1959 vintage camper and completely remodeled it. I did everything from paint to installing new floors, new countertops, and sewing curtains. It was so incredibly fun and rewarding. It was also just so cool to see how quickly you could transform a small space. **What do you love about it?**  **A:** I love how much DIY projects are tied to your mental health and overall well-being. Most people severely underestimate just how much their homes affect them. I love being able to help someone identify a feeling or an outcome they’re trying to achieve and then use their home to help make it a reality.  No one is \[really\] chasing a look. We’re all chasing a feeling. And you can accomplish that through DIY and home design. **What are some mistakes you’ve made in your DIY journey?** **A:** Mistakes are just part of the learning curve and part of the experience. Every single time I do a project, I’m a little bit more informed and a little bit more experienced because of the past mistakes I’ve made.  That being said, avoid any huge structural changes or load-bearing walls and things like that if you’re not sure what you’re doing. **Do you have any advice for women who want to dive into DIY projects?** **A:** Pick a small project that you can get done in a day. Too often I see people start with a huge project and they get in over their head. It leaves them feeling discouraged.  Smaller projects give you a little bit of experience. More importantly they offer the momentum you need to keep going. **Which project are you most proud of and why?** **A:** I’m incredibly proud of my vintage camper. I don’t own it anymore. But that was one of the best projects of my life. I also designed our home when we went through a major renovation. And I’m constantly updating it with DIY projects.  I’m very intentional about creating character and charm in my home. I don’t want it to look cookie-cutter or like everyone else’s \[property.\]  What makes me the most proud is how much and how often my four-year-old tells me how much she loves our home. That’s the whole point. I am so proud and grateful to have created a home that my babies feel happy and safe in. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/k51y2qtf89og1.png?width=1600&format=png&auto=webp&s=884f0caab430af2f5c7133e3721b4e1662b7320b By [Ben Lane](https://www.newamericanfunding.com/learning-center/authors/ben-lane/) March 5, 2026 The [spring housing market](https://www.newamericanfunding.com/learning-center/homebuyers/buying-a-home-this-spring-heres-how-to-succeed-in-a-competitive-housing-market/?utm_source=retention&utm_medium=email&utm_content=article&utm_campaign=Feb13&utm_term=default) got some more good news in the last week, as [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) hovered near their lowest level in almost four years. Mortgage rates averaged right at 6% for 30-year, fixed-rate loans in the week ending March 5, according to [Freddie Mac](https://www.freddiemac.com/pmms). That’s up ever so slightly from the previous week, when they [dipped below 6%](https://www.newamericanfunding.com/learning-center/housing-news/the-wait-is-finally-over-mortgage-rates-finally-drop-below-6/) for the first time since September 2022. A year ago at this time, the 30-year mortgage rate averaged 6.63%. This week’s rate is also down substantially from two years ago, when rates were about 6.88%. Lower rates make it more affordable for buyers to purchase a home or stretch their budgets. It may also save existing homeowners money if they [refinance their loans](https://www.newamericanfunding.com/refinance/). “Rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners,” said Freddie Mac Chief Economist Sam Khater in a statement. “As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.” As Khater noted, mortgage activity has risen over the last few weeks. Homebuyers and homeowners are sensitive to interest rate fluctuations, especially those that see rates drop. Mortgage applications were up by 11% in the week ending Feb. 27, according to the [latest data](https://www.mba.org/news-and-research/newsroom/news/2026/03/04/mortgage-applications-increase-in-latest-mba-weekly-survey) from the Mortgage Bankers Association (MBA). The MBA report also showed that refinance applications were up 14.3% over the previous week and rose 109% from the previous year. Purchase applications were also up, increasing by 6.1% over the previous week. “Refinance applications increased for the fourth straight week to the strongest pace since 2022,” MBA Deputy Chief Economist Joel Kan said in a statement. Some of those homeowners likely got a mortgage when rates were pushing 8% a few years ago. Dropping their interest rates by nearly two percentage points may result in big savings in both the short-term and long-term. If someone got a home loan in October 2023 when rates were averaging around 7.8%, they [could save](https://www.newamericanfunding.com/learning-center/homeowners/millions-of-homeowners-could-save-money-right-now-by-refinancing.-are-you-one-of-them) about $385 a month if they [refinanced their mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/small-interest-rate-drops-big-savings-what-a-1-difference-means-for-mortgages-and-refinances/). (This assumes they bought a $400,000 home with 20% down.) That adds up to more than $4,600 a year and nearly $140,000 during the life of a 30-year loan. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/ww1cnaja79og1.png?width=1600&format=png&auto=webp&s=bfa6f5ed8a2a4d69c0e1a1778d478bbfe6cccda7 By [Sarah Li-Cain](https://www.newamericanfunding.com/learning-center/authors/sarah-li-cain/) March 6, 2026 Buying a home is a major life and financial decision, so you want to be sure you’re purchasing the right one. That’s why it’s worth taking the time to really get a feel for the property and the surrounding neighborhood. For many, a busy schedule means that it may be hard to find the time to tour a home, especially when you’re visiting multiple properties. You may only be able to see it once. However, taking the time for a second or third look could make all the difference when trying to figure out if this is the right home, and neighborhood, for you and your family. “It's definitely worth it to view the home multiple times,” said real estate broker Tiffany Alexy, of the [Alexy Realty Group](https://alexyrealtygroup.com/about) in Durham, N.C. “Many times, when you’re looking at homes, you’re looking at a few at a time and they tend to blur together and it’s good to refresh your memory.” # Why should homebuyers tour a home multiple times? Homebuyers should tour the properties they like more than once before submitting an offer. This can help you remember what you liked about a home. Visiting it at different times can also give you a realistic idea of what it might be like to live there during the week, on weekends, and at night. “There is usually the ‘wow’ factor when you see a home for the first time,” said real estate broker [Rebecca Monson](https://homeandslate.com/agent/rebecca-monson) of Home and Slate. She is based in Truckee, Calif. “When buyers see the home for the second time, they look closer at more details. Maybe you’ll see some of the flaws in the home you missed the first time around.” For example, you can open and close doors to see if they function properly or look at the rooms more closely to see if your furniture will fit. It also gives you a chance to see what the home looks like at different times of the day. # Touring a home during the day https://preview.redd.it/slfk5xjd79og1.png?width=1125&format=png&auto=webp&s=06bf61648a21e4a2510042fe106975f60f09c1bc Viewing a property during the day will give you a sense of what the home looks like with natural light coming in. If you happen to be there it’s raining, you may be able to see other factors like the drainage of the yard. Or, depending on the time of year, you may be able to see where the snow may fall on the roof. That may impact the type of maintenance you may need to do at different times of the year. Visiting a home during the daylight hours is also a good time to get a sense of the surrounding area. “Touring the home during the day is helpful to see what amenities are nearby, whether it is schools or activities for your kids,” said [David Gavri](https://map.realtyonegroup.com/real-estate-agent/35984/david-gavri), real estate agent with Realty One Group in Las Vegas. “You may also be able to meet the neighbors if they’re home.” Alexy adds that during the day it may also be easier to see any potential flaws, like moisture stains or cracks. You can also get a sense of the neighborhood by walking around the nearby properties. That can help you to get a sense if this is a community where there are children running around on Saturday afternoon, if there is loud music, lots of cars speeding by, and other things that may influence your decision to purchase the home. # Touring a home at night https://preview.redd.it/9r5o8gxe79og1.png?width=1125&format=png&auto=webp&s=6dc0f903fe37cf461ec8167fa901c02f27ed2094 Being able to tour a home a night can help you to see what it might feel to live there. For example, maybe you realize you’ll need more light fixtures, or the noise level around your neighborhood is more than you can bear. It’s also helpful to see how well-lit the area is and whether you feel safe in the area at night. Visiting a home in the evening can also help you to also assess other features of the neighborhood when folks are coming home from work. See what traffic is like during rush hour, and whether the number or cars and noise levels are acceptable to you. It’s also helpful to see how many cars are parked around the home, especially if it’s a busy area. Knowing traffic patterns and the neighborhood at night will help you to get a sense of how it could be for your commute home. After all, living in a home means you’ll be there during the day and evening hours. So, seeing what it’s like to be there during different times will give you the best possible opportunity to see what the home truly feels like before you make an offer. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/j8n0wvqx69og1.png?width=1600&format=png&auto=webp&s=7ba22ae8c9a3cd04bcc979bc6e8aad7b4ca193b6 By [Ellen Sheng](https://www.newamericanfunding.com/learning-center/authors/ellen-sheng/) March 9, 2026 For most homeowners, their property home is the single largest asset they own. And those 62 and older were sitting on a record $14.66 trillion in home equity in the third quarter of 2025, according to the [National Reverse Mortgage Lenders Association](https://www.nrmlaonline.org/about/press-releases/senior-home-equity-surges-to-record-14-66-trillion-in-q3-2025). If you’re retired and worried about outliving your savings, a [reverse mortgage](https://www.newamericanfunding.com/loan-types/reverse-mortgage/) is one way for older homeowners to put that home equity to work. And there may be tax advantages to taking out one of these loans. “They’re a fine tool for…those who are house rich and asset or income poor,” said [Mike Chadwick](https://fiscalwisdom.com/mike-chadwick/), president of Fiscal Wisdom Wealth Management. So, what does it mean for your taxes if you’re getting money from a reverse mortgage? # What is a reverse mortgage? First, some background. A reverse mortgage, also called a [Home Equity Conversion Mortgage (HECM)](https://www.newamericanfunding.com/learning-center/homeowners/reverse-mortgage-evolution-more-protection-more-peace-of-mind-for-older-homeowners/), allows qualifying homeowners to convert their home equity into cash without selling their homes.   The loans are available to those who are 62 and up and have at least 50% equity in their primary homes. Those approved for the loan receive a lump sum, a line of credit, or can draw money monthly. Meanwhile, they retain ownership of the home and can continue living in it. They also need to pay property taxes, homeowners insurance, and maintain the home. The loan becomes due once the homeowner moves, sells the home, or passes away. But reverse mortgages are not without some risks. The loan balance grows over time, and these mortgages reduce the equity you (or your heirs) have in the home. However, your heirs may still be able to inherit the property by paying back the balance on the loan. Or they can sell the property and pocket the proceeds, minus what the lender is owed. # What are the tax advantages of a reverse mortgage? https://preview.redd.it/ndjivpb079og1.png?width=1125&format=png&auto=webp&s=63da863cf2efe78c7488ae198c2c42cedd14ce5b Reverse mortgages also come with some tax advantages. Since the money paid out is a loan, it’s not considered taxable income by the Internal Revenue Service (IRS). That means you do not need to report reverse mortgage proceeds on your tax return. The extra money won’t push you into a higher tax bracket or reduce your Social Security or Medicare benefits. Plus, the interest may be deductible later on. Some retirees use reverse mortgage funds to cover living expenses, instead drawing from their 401(k) and paying income tax. This strategy can also allow retirement accounts to continue growing tax-deferred. That said, if you receive Medicaid or Supplemental Security Income (SSI), be careful. If you don’t spend funds from a reverse mortgage within the same month you receive them, it could count as an asset and potentially affect eligibility. You may want to consult with a financial advisor, mortgage loan officer, or tax professional before making a decision. There are many variables depending on your tax bracket, how much equity you have in your home, current interest rates, and your long-term financial plan. # Do reverse mortgages trigger capital gains taxes? A reverse mortgage on its own does not trigger [capital gains taxes](https://www.newamericanfunding.com/learning-center/homeowners/selling-your-home-what-homeowners-should-understand-about-capital-gains-taxes/). However, if the home is sold to repay the loan, the owner may need to pay capital gains taxes. That’s because the home may have appreciated significantly since it was purchased. If you’re single and the sale price is more than $250,000 more than the original price you paid for it, you could owe taxes on any additional amount. The capital gains exclusion is doubled for married couples, so they don’t have to pay taxes on up to $500,000 in profits. # Is the interest on a reverse mortgage tax deductible? https://preview.redd.it/8vfrqea279og1.png?width=1125&format=png&auto=webp&s=8c9a178808e0346ce5442a280c42ced783290232 Unlike many other types of mortgages, the interest paid on a reverse mortgage can only be deducted once the loan is repaid. This is typically when the home is sold or the borrower passes away. That’s different from a traditional mortgage, where you may be able to deduct interest annually. The interest deduction for a reverse mortgage is also limited. It's generally only if the money from the loan was used to buy, build, or substantially improve the home. If you used the funds for living expenses or medical bills, the interest likely won't be deductible. But if you used the loan to renovate a bathroom or replace the roof, you may be able to deduct the interest once the loan is paid off. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/b1puurwm69og1.png?width=1600&format=png&auto=webp&s=d347a526167e8ebd65449a256cbb4e3c19c2bc85 By [Anna Baluch](https://www.newamericanfunding.com/learning-center/authors/anna-baluch/) March 10, 2026 Between elevated home prices and the cost of rent, groceries, and other essentials ticking up, saving for your first home can be a real challenge. That’s where a [Federal Housing Administration (FHA) loan](https://www.newamericanfunding.com/loan-types/fha-loan/) may come in handy.  These federally backed loans offer an array of benefits for cash-strapped first-time and repeat homebuyers. “FHA loans are ideal for first-time buyers who have stable income but limited credit history, or cash reserves for a conventional down payment,” said certified financial planner Eric Croak, president of [Croak Capital](http://croakcapital.com/) in Toledo, Ohio.  Let’s take a closer look at [what an FHA loan is](https://www.newamericanfunding.com/learning-center/homebuyers/how-fha-loans-provide-a-flexible-path-to-homeownership-for-first-time-buyers/), how it works, and when it might make sense for you. # How do FHA loans work? FHA loans are popular with [first-time homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/are-you-a-first-time-buyer-surprise-it-doesnt-always-mean-someone-purchasing-their-first-property/), because they may be able to qualify with lower credit scores, more debt, and a limited down payment. The loans are insured by the Federal Housing Administration. That protects lenders if the borrower defaults on their loan. As a result, FHA loans are more flexible and easier to obtain than [Conventional loans](https://www.newamericanfunding.com/loan-types/conventional-loan/) and other mortgages.  The big advantage of these loans is that they make homeownership more accessible to more people.  # Who can qualify for an FHA loan? You don’t have to be a first-time buyer to qualify for an FHA loan. You may be eligible for an FHA loan if you have a [credit score](https://www.newamericanfunding.com/learning-center/homebuyers/your-credit-score-could-be-the-key-to-homeownershipheres-why/) of at least 500 and a 10% down payment. Buyers with credit scores of 580 or higher may be able to qualify for a loan with a down payment as low as 3.5%. Additionally, most lenders look for a [debt-to-income (DTI) ratio](https://www.newamericanfunding.com/learning-center/videos/buying-a-home-pay-attention-to-your-debt-to-income-ratio/) under 43%, although some lenders may go higher. This is how much someone earns compared to their debt. If you do take out an FHA loan, you will also need to pay [mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/understanding-mortgage-insurance-a-guide-for-homeowners/). These additional fees are tacked onto your mortgage payments. Buyers who make a down payment of at least 10% may be able to have the mortgage insurance removed after 11 years. Those who put down less will pay the fees for the duration of the loan unless they refinance and have at least 20% equity in their homes. # What are the benefits of FHA loans? https://preview.redd.it/lzjkst9p69og1.png?width=1125&format=png&auto=webp&s=70222c96a7b40b3f971d2b73e81918dc4fffd314 The biggest benefit to an FHA loan is that these mortgages may be easier to qualify for, especially for first-time buyers who may not have large down payments. “The real value of an FHA loan is the lower entry to homeownership for those that have been locked out due to credit blemishes or insufficient savings,” said Croak. # Why it might be easier to refinance through an FHA streamline If you decide to refinance an FHA loan to secure a lower interest rate or change your loan terms, you may want to consider an [FHA streamline refinance](https://www.newamericanfunding.com/learning-center/homeowners/what-you-need-to-know-about-fha-streamline-refinances/).  Unlike a traditional refinance, you won’t need to get a new appraisal. In some cases, you may also be able to forgo a credit check if you’ve made at least six mortgage payments. Some types of refinances may not require borrowers to have their income verified either. # What are the limitations of FHA loans? As with any mortgage, there are a few things to consider before getting an FHA loan. Most notably, you’ll be on the hook for an upfront mortgage insurance premium due at closing, as well as an annual premium payment that’s broken up into monthly payments. Also, FHA loans are only available for homes that meet specific requirements. If you choose a fixer-upper or a property with major structural issues, for example, you might not qualify for this type of mortgage.  In addition, you won’t be able to borrow more than the [FHA loan limits](https://www.newamericanfunding.com/learning-center/housing-news/homebuyers-may-be-afford-more-home-next-year-fha-loan-limits-for-2026/) for your area, which vary by year. If you’re looking for a luxury home, you may need to [use a different mortgage](https://www.newamericanfunding.com/loan-types/jumbo-loan/).  [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/ykenrhe0d8og1.png?width=1600&format=png&auto=webp&s=e555c49f1163266dc765e94b90139edeeb73e690 By [Anna Baluch](https://www.newamericanfunding.com/learning-center/authors/anna-baluch/) March 10, 2026 Between elevated home prices and the cost of rent, groceries, and other essentials ticking up, saving for your first home can be a real challenge. That’s where a [Federal Housing Administration (FHA) loan](https://www.newamericanfunding.com/loan-types/fha-loan/) may come in handy.  These federally backed loans offer an array of benefits for cash-strapped first-time and repeat homebuyers. “FHA loans are ideal for first-time buyers who have stable income but limited credit history, or cash reserves for a conventional down payment,” said certified financial planner Eric Croak, president of [Croak Capital](http://croakcapital.com/) in Toledo, Ohio.  Let’s take a closer look at [what an FHA loan is](https://www.newamericanfunding.com/learning-center/homebuyers/how-fha-loans-provide-a-flexible-path-to-homeownership-for-first-time-buyers/), how it works, and when it might make sense for you. # How do FHA loans work? FHA loans are popular with [first-time homebuyers](https://www.newamericanfunding.com/learning-center/homebuyers/are-you-a-first-time-buyer-surprise-it-doesnt-always-mean-someone-purchasing-their-first-property/), because they may be able to qualify with lower credit scores, more debt, and a limited down payment. The loans are insured by the Federal Housing Administration. That protects lenders if the borrower defaults on their loan. As a result, FHA loans are more flexible and easier to obtain than [Conventional loans](https://www.newamericanfunding.com/loan-types/conventional-loan/) and other mortgages.  The big advantage of these loans is that they make homeownership more accessible to more people.  # Who can qualify for an FHA loan? You don’t have to be a first-time buyer to qualify for an FHA loan. You may be eligible for an FHA loan if you have a [credit score](https://www.newamericanfunding.com/learning-center/homebuyers/your-credit-score-could-be-the-key-to-homeownershipheres-why/) of at least 500 and a 10% down payment. Buyers with credit scores of 580 or higher may be able to qualify for a loan with a down payment as low as 3.5%. Additionally, most lenders look for a [debt-to-income (DTI) ratio](https://www.newamericanfunding.com/learning-center/videos/buying-a-home-pay-attention-to-your-debt-to-income-ratio/) under 43%, although some lenders may go higher. This is how much someone earns compared to their debt. If you do take out an FHA loan, you will also need to pay [mortgage insurance](https://www.newamericanfunding.com/learning-center/homebuyers/understanding-mortgage-insurance-a-guide-for-homeowners/). These additional fees are tacked onto your mortgage payments. Buyers who make a down payment of at least 10% may be able to have the mortgage insurance removed after 11 years. Those who put down less will pay the fees for the duration of the loan unless they refinance and have at least 20% equity in their homes. # What are the benefits of FHA loans? https://preview.redd.it/2bdt5ca3d8og1.png?width=1125&format=png&auto=webp&s=7b2bbbb0994e14a97e9d5c456148053f8711fd85 The biggest benefit to an FHA loan is that these mortgages may be easier to qualify for, especially for first-time buyers who may not have large down payments. “The real value of an FHA loan is the lower entry to homeownership for those that have been locked out due to credit blemishes or insufficient savings,” said Croak. # Why it might be easier to refinance through an FHA streamline If you decide to refinance an FHA loan to secure a lower interest rate or change your loan terms, you may want to consider an [FHA streamline refinance](https://www.newamericanfunding.com/learning-center/homeowners/what-you-need-to-know-about-fha-streamline-refinances/).  Unlike a traditional refinance, you won’t need to get a new appraisal. In some cases, you may also be able to forgo a credit check if you’ve made at least six mortgage payments. Some types of refinances may not require borrowers to have their income verified either. # What are the limitations of FHA loans? As with any mortgage, there are a few things to consider before getting an FHA loan. Most notably, you’ll be on the hook for an upfront mortgage insurance premium due at closing, as well as an annual premium payment that’s broken up into monthly payments. Also, FHA loans are only available for homes that meet specific requirements. If you choose a fixer-upper or a property with major structural issues, for example, you might not qualify for this type of mortgage.  In addition, you won’t be able to borrow more than the [FHA loan limits](https://www.newamericanfunding.com/learning-center/housing-news/homebuyers-may-be-afford-more-home-next-year-fha-loan-limits-for-2026/) for your area, which vary by year. If you’re looking for a luxury home, you may need to [use a different mortgage](https://www.newamericanfunding.com/loan-types/jumbo-loan/).  [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/xlm1mkns91og1.png?width=1600&format=png&auto=webp&s=917b5e20484f415223e9b44eb786d19cf10566af By [Ellen Sheng](https://www.newamericanfunding.com/learning-center/authors/ellen-sheng/) March 9, 2026 For most homeowners, their property home is the single largest asset they own. And those 62 and older were sitting on a record $14.66 trillion in home equity in the third quarter of 2025, according to the [National Reverse Mortgage Lenders Association](https://www.nrmlaonline.org/about/press-releases/senior-home-equity-surges-to-record-14-66-trillion-in-q3-2025). If you’re retired and worried about outliving your savings, a [reverse mortgage](https://www.newamericanfunding.com/loan-types/reverse-mortgage/) is one way for older homeowners to put that home equity to work. And there may be tax advantages to taking out one of these loans. “They’re a fine tool for…those who are house rich and asset or income poor,” said [Mike Chadwick](https://fiscalwisdom.com/mike-chadwick/), president of Fiscal Wisdom Wealth Management. So, what does it mean for your taxes if you’re getting money from a reverse mortgage? # What is a reverse mortgage? First, some background. A reverse mortgage, also called a [Home Equity Conversion Mortgage (HECM)](https://www.newamericanfunding.com/learning-center/homeowners/reverse-mortgage-evolution-more-protection-more-peace-of-mind-for-older-homeowners/), allows qualifying homeowners to convert their home equity into cash without selling their homes.   The loans are available to those who are 62 and up and have at least 50% equity in their primary homes. Those approved for the loan receive a lump sum, a line of credit, or can draw money monthly. Meanwhile, they retain ownership of the home and can continue living in it. They also need to pay property taxes, homeowners insurance, and maintain the home. The loan becomes due once the homeowner moves, sells the home, or passes away. But reverse mortgages are not without some risks. The loan balance grows over time, and these mortgages reduce the equity you (or your heirs) have in the home. However, your heirs may still be able to inherit the property by paying back the balance on the loan. Or they can sell the property and pocket the proceeds, minus what the lender is owed. # What are the tax advantages of a reverse mortgage? https://preview.redd.it/dp48y7wv91og1.png?width=1125&format=png&auto=webp&s=459a5b894874ca1007173ab31a0c5ca644276b90 Reverse mortgages also come with some tax advantages. Since the money paid out is a loan, it’s not considered taxable income by the Internal Revenue Service (IRS). That means you do not need to report reverse mortgage proceeds on your tax return. The extra money won’t push you into a higher tax bracket or reduce your Social Security or Medicare benefits. Plus, the interest may be deductible later on. Some retirees use reverse mortgage funds to cover living expenses, instead drawing from their 401(k) and paying income tax. This strategy can also allow retirement accounts to continue growing tax-deferred. That said, if you receive Medicaid or Supplemental Security Income (SSI), be careful. If you don’t spend funds from a reverse mortgage within the same month you receive them, it could count as an asset and potentially affect eligibility. You may want to consult with a financial advisor, mortgage loan officer, or tax professional before making a decision. There are many variables depending on your tax bracket, how much equity you have in your home, current interest rates, and your long-term financial plan. # Do reverse mortgages trigger capital gains taxes? A reverse mortgage on its own does not trigger [capital gains taxes](https://www.newamericanfunding.com/learning-center/homeowners/selling-your-home-what-homeowners-should-understand-about-capital-gains-taxes/). However, if the home is sold to repay the loan, the owner may need to pay capital gains taxes. That’s because the home may have appreciated significantly since it was purchased. If you’re single and the sale price is more than $250,000 more than the original price you paid for it, you could owe taxes on any additional amount. The capital gains exclusion is doubled for married couples, so they don’t have to pay taxes on up to $500,000 in profits. # Is the interest on a reverse mortgage tax deductible? https://preview.redd.it/22k74rbx91og1.png?width=1125&format=png&auto=webp&s=03e0d629c2b65dc88ae9c12368b6565d67c3ca8e Unlike many other types of mortgages, the interest paid on a reverse mortgage can only be deducted once the loan is repaid. This is typically when the home is sold or the borrower passes away. That’s different from a traditional mortgage, where you may be able to deduct interest annually. The interest deduction for a reverse mortgage is also limited. It's generally only if the money from the loan was used to buy, build, or substantially improve the home. If you used the funds for living expenses or medical bills, the interest likely won't be deductible. But if you used the loan to renovate a bathroom or replace the roof, you may be able to deduct the interest once the loan is paid off. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)

https://preview.redd.it/e260ocnk91og1.png?width=1600&format=png&auto=webp&s=e76c67e88abdde40e7f6626e43ca9e3578c1749c By [Sarah Li-Cain](https://www.newamericanfunding.com/learning-center/authors/sarah-li-cain/) March 6, 2026 Buying a home is a major life and financial decision, so you want to be sure you’re purchasing the right one. That’s why it’s worth taking the time to really get a feel for the property and the surrounding neighborhood. For many, a busy schedule means that it may be hard to find the time to tour a home, especially when you’re visiting multiple properties. You may only be able to see it once. However, taking the time for a second or third look could make all the difference when trying to figure out if this is the right home, and neighborhood, for you and your family. “It's definitely worth it to view the home multiple times,” said real estate broker Tiffany Alexy, of the [Alexy Realty Group](https://alexyrealtygroup.com/about) in Durham, N.C. “Many times, when you’re looking at homes, you’re looking at a few at a time and they tend to blur together and it’s good to refresh your memory.” # Why should homebuyers tour a home multiple times? Homebuyers should tour the properties they like more than once before submitting an offer. This can help you remember what you liked about a home. Visiting it at different times can also give you a realistic idea of what it might be like to live there during the week, on weekends, and at night. “There is usually the ‘wow’ factor when you see a home for the first time,” said real estate broker [Rebecca Monson](https://homeandslate.com/agent/rebecca-monson) of Home and Slate. She is based in Truckee, Calif. “When buyers see the home for the second time, they look closer at more details. Maybe you’ll see some of the flaws in the home you missed the first time around.” For example, you can open and close doors to see if they function properly or look at the rooms more closely to see if your furniture will fit. It also gives you a chance to see what the home looks like at different times of the day. # Touring a home during the day https://preview.redd.it/axnd28bn91og1.png?width=1125&format=png&auto=webp&s=3286aa5cc77feec9a89f3fc69305e377cd641f72 Viewing a property during the day will give you a sense of what the home looks like with natural light coming in. If you happen to be there it’s raining, you may be able to see other factors like the drainage of the yard. Or, depending on the time of year, you may be able to see where the snow may fall on the roof. That may impact the type of maintenance you may need to do at different times of the year. Visiting a home during the daylight hours is also a good time to get a sense of the surrounding area. “Touring the home during the day is helpful to see what amenities are nearby, whether it is schools or activities for your kids,” said [David Gavri](https://map.realtyonegroup.com/real-estate-agent/35984/david-gavri), real estate agent with Realty One Group in Las Vegas. “You may also be able to meet the neighbors if they’re home.” Alexy adds that during the day it may also be easier to see any potential flaws, like moisture stains or cracks. You can also get a sense of the neighborhood by walking around the nearby properties. That can help you to get a sense if this is a community where there are children running around on Saturday afternoon, if there is loud music, lots of cars speeding by, and other things that may influence your decision to purchase the home. # Touring a home at night https://preview.redd.it/yj3w92po91og1.png?width=1125&format=png&auto=webp&s=3376b2be494d29ad50dc8f476739bc3a1214097e Being able to tour a home a night can help you to see what it might feel to live there. For example, maybe you realize you’ll need more light fixtures, or the noise level around your neighborhood is more than you can bear. It’s also helpful to see how well-lit the area is and whether you feel safe in the area at night. Visiting a home in the evening can also help you to also assess other features of the neighborhood when folks are coming home from work. See what traffic is like during rush hour, and whether the number or cars and noise levels are acceptable to you. It’s also helpful to see how many cars are parked around the home, especially if it’s a busy area. Knowing traffic patterns and the neighborhood at night will help you to get a sense of how it could be for your commute home. After all, living in a home means you’ll be there during the day and evening hours. So, seeing what it’s like to be there during different times will give you the best possible opportunity to see what the home truly feels like before you make an offer. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

If it feels impossible to wrap your head around mortgages, that’s completely understandable. I felt this way for the longest time. Between the interest rates and loan terms, it can be a real challenge to find the best mortgage for your situation.  Even though the process of choosing a mortgage can be intimidating, you still need to be picky. Take interest rates, for instance. Just a small point difference could end up saving (or costing) you thousands of dollars over the years. If you skimp on doing research upfront, you might end up having to refinance down the line.  With all the lenders that are out there, it can feel like a crapshoot to find the best one. To avoid becoming paralyzed by indecision, I’d suggest visiting a few mortgage comparison sites to filter through your options and narrow down the list. These are some of the best ones out there. **BestMoney** You can use BestMoney to research all kinds of financial products, including mortgages. The platform separates these out, making it easy for you to find the best loan for purchasing a home, refinancing a mortgage, or home equity. For each loan type, there are options to filter through lenders based on your credit score (excellent, good, fair, or poor) and the loan amount you’re looking at. BestMoney assigns each lender an overall score out of 10, which combines the lender’s Trustpilot score and their brand reputation.  On top of the scores, there are also in-depth reviews for many of the main lenders, like Rocket Mortgage, Veterans United, AAG, etc. A typical review starts out with a pros and cons list, before delving into things like loan terms, rates, and the application process. BestMoney also has an article library that addresses common mortgage topics like refinancing, VA loans, and FHA loans. **FindMortgages (dot) com** At first glance, FindMortgage (dot) com looks a lot like BestMoney, but the two sites have different scopes. While BestMoney covers a range of financial products, FindMortgages is solely about home loans.  There are separate lists of lenders for different loan types, and there are also dedicated sections for home equity loans and VA lenders. Within each category, you can filter by credit score and loan amount. FindMortgages also gives each lender a score out of 10, which adds together the Trustpilot TrustScore and a value score, which factors in a variety of lender characteristics.  Currently, the site has full reviews for six different lenders: Rocket Mortgage, Quicken Loans, AmeriSave, New American Funding, LendingTree, and Figure. The reviews are fairly brief and get straight to the point, covering pros and cons, the types of loans the lender offers, and the application process.  **Bankrate** When you visit Bankrate’s “Mortgages” section, one of the first things you’ll see is an interactive list you can filter through to see the current mortgage rates offered by each lender. The list of filters is pretty extensive, so this could be a good site to use once you have a strong idea of what you want out of a mortgage. Number one, you’ll select whether you’re purchasing or refinancing. Then, you can filter based on your zip code, purchase price, down payment, and credit score. You can also choose whether you want to see FHA loans or VA loans included in the list. Bankrate has a separate section for home equity loans, but the home equity loan filters are similar to the ones you’ll see in the mortgages section.  Bankrate assigns each lender a score out of five stars, and there are reviews for many of them. Customers also leave reviews on the site.  **NerdWallet** The last site I’ll cover here is NerdWallet. It’s pretty well-known as a personal finance resource, and it has plenty of product comparison features, too. When you’re comparing mortgage rates, there are three initial filters you’ll see: purchase, refinance, and home equity. Within these filters, there are additional options.  For example, if you’re looking for a mortgage for purchasing a home, there are filters based on your zip code, credit score, purchase price, down payment, and loan term. You can also select whether you’re eligible for an FHA loan or if you’re a veteran.  Like the other sites, NerdWallet gives each lender a rating; it uses a five-star rating system. It also has reviews for many lenders, breaking down features and the customer experience.  **Bottom line: Visit more than one site when comparing lenders.** No matter which of these sites you visit, you’ll be able to filter through a list of mortgage lenders to see companies that are best tailored to your personal situation. Some sites get more specific than others, but all of them cover the basics. 

https://preview.redd.it/g0u3csggi9ng1.png?width=1600&format=png&auto=webp&s=236c89d9d107ddbdebf8129a5566d426eaae8348 By [Ben Lane](https://www.newamericanfunding.com/learning-center/authors/ben-lane/) March 5, 2026 The [spring housing market](https://www.newamericanfunding.com/learning-center/homebuyers/buying-a-home-this-spring-heres-how-to-succeed-in-a-competitive-housing-market/?utm_source=retention&utm_medium=email&utm_content=article&utm_campaign=Feb13&utm_term=default) got some more good news in the last week, as [mortgage interest rates](https://www.newamericanfunding.com/mortgage-rates/) hovered near their lowest level in almost four years. Mortgage rates averaged right at 6% for 30-year, fixed-rate loans in the week ending March 5, according to [Freddie Mac](https://www.freddiemac.com/pmms). That’s up ever so slightly from the previous week, when they [dipped below 6%](https://www.newamericanfunding.com/learning-center/housing-news/the-wait-is-finally-over-mortgage-rates-finally-drop-below-6/) for the first time since September 2022. A year ago at this time, the 30-year mortgage rate averaged 6.63%. This week’s rate is also down substantially from two years ago, when rates were about 6.88%. Lower rates make it more affordable for buyers to purchase a home or stretch their budgets. It may also save existing homeowners money if they [refinance their loans](https://www.newamericanfunding.com/refinance/). “Rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners,” said Freddie Mac Chief Economist Sam Khater in a statement. “As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.” As Khater noted, mortgage activity has risen over the last few weeks. Homebuyers and homeowners are sensitive to interest rate fluctuations, especially those that see rates drop. Mortgage applications were up by 11% in the week ending Feb. 27, according to the [latest data](https://www.mba.org/news-and-research/newsroom/news/2026/03/04/mortgage-applications-increase-in-latest-mba-weekly-survey) from the Mortgage Bankers Association (MBA). The MBA report also showed that refinance applications were up 14.3% over the previous week and rose 109% from the previous year. Purchase applications were also up, increasing by 6.1% over the previous week. “Refinance applications increased for the fourth straight week to the strongest pace since 2022,” MBA Deputy Chief Economist Joel Kan said in a statement. Some of those homeowners likely got a mortgage when rates were pushing 8% a few years ago. Dropping their interest rates by nearly two percentage points may result in big savings in both the short-term and long-term. If someone got a home loan in October 2023 when rates were averaging around 7.8%, they [could save](https://www.newamericanfunding.com/learning-center/homeowners/millions-of-homeowners-could-save-money-right-now-by-refinancing.-are-you-one-of-them) more than $350 a month if they [refinanced their mortgage](https://www.newamericanfunding.com/learning-center/homebuyers/small-interest-rate-drops-big-savings-what-a-1-difference-means-for-mortgages-and-refinances/). (This assumes they bought a $400,000 home with 20% down.) That adds up to more than $4,000 a year and over $120,000 during the life of a 30-year loan. [Take the next step on your path to homeownership with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase)

https://preview.redd.it/j1zl5d6fz8ng1.png?width=1600&format=png&auto=webp&s=874d7d6e109ccccfc78c9c6a7874258c01515f55 By [Margaret Heidenry](https://www.newamericanfunding.com/learning-center/authors/margaret-heidenry/) March 5, 2026 Kitchens remain the most renovated room in most homes as they have become showpieces. However, homeowners’ approach to renovations is evolving as tastes change. Instead of pursuing gorgeous kitchens meant only for resale, more homeowners are choosing options that suit everyday life. There has been a shift toward kitchens that feel calmer, more functional, and easier to live with over the long term, according to the 2026 [U.S. Houzz Kitchen Trends Study](https://www.houzz.com/magazine/2026-u-s-houzz-kitchen-trends-study-stsetivw-vs~184213864). The study tracks how homeowners are actually renovating their kitchens and not just what’s saved on Pinterest. “Kitchen renovations are increasingly shaped by broader housing market pressures,” said Marine Sargsyan, Houzz’s head of economic research, in a statement. “With aging housing stock, a shortage of available homes, and longer homeowner tenure, more homeowners are choosing to invest in improving the functionality of the kitchens they already have rather than move.” Many homeowners are turning to home equity loans, such as [Home Equity Lines of Credit (HELOCs)](https://www.newamericanfunding.com/refinance/home-equity-line-of-credit/) and [cash-out refinances](https://www.newamericanfunding.com/refinance/cash-out-refinance/) to help fund the work. This allows homeowners to spread the costs out over time instead of draining their savings. Here’s what you need to know about how to incorporate these trends wisely (and cheaply) if you’re [renovating](https://www.newamericanfunding.com/learning-center/homeowners/more-homeowners-are-renovating-for-the-long-term-what-to-know-before-starting-a-project/), [buying](https://www.newamericanfunding.com/learning-center/homebuyers/), or planning [to sell](https://www.newamericanfunding.com/learning-center/homeowners/) in the next few years. # Kitchen storage is getting smarter If there’s one throughline in 2026 kitchens, it’s that storage solutions are way in. And kitchen storage is getting larger and smarter. Walk-in pantries are becoming more popular, along with a smaller but growing share of butler’s pantries and prep kitchens.  More than three-quarters of homeowners renovating their homes have added specialty built-in features, according to Houzz data, with pantry cabinets leading the way. “The kitchen and bathroom are the two rooms that have the most planning impact on the future,” said Forrest Webber, founder of [The Trade Table](http://thetradetable.com/), an online home improvement store based in Huntsville, Ala. Homeowners want places to stash everything. After spending more years at home, homeowners desire kitchens that minimize clutter and visual noise. **How to get the look for less:** You don’t need to add square footage to improve storage. Tall pantry cabinets, deeper drawers, and upgraded cabinet interiors often deliver the same benefit as a walk-in pantry, without moving walls. # Wood finishes move front and center of the kitchen https://preview.redd.it/k9b481nnz8ng1.png?width=1125&format=png&auto=webp&s=7c98173c70f484360f4ebb3d08a326729f0d1294 For years, white kitchens dominated renovation budgets. In 2026, wood has taken the lead. Indeed, wood is now the most popular cabinet finish in renovated kitchens, edging out white for the first time in recent Houzz tracking. Medium wood tones lead the shift, followed by lighter finishes. Architects and designers say the appeal is as emotional as it is visual. “The past trends of lacquer cabinets are losing popularity; they tend to feel cold and impersonal,” said [Jorge Fontan](https://fontanarchitecture.com/), founder of Fontan Architecture in New York, N.Y. “We have a much greater interest as architects and designers at our firm to use more natural wood, which has a warmer and more inviting feel.” Note that this isn’t a shift back to heavy or rustic kitchens. Today’s wood cabinets are usually sleek, with flatter profiles and minimal hardware. **How to get the look for less:** If replacing all your cabinets isn’t realistic, introduce wood selectively. A wood island base, pantry cabinet, or open shelving can soften a kitchen without a full renovation. # Kitchen slab backsplashes continue to rise Tile still dominates kitchen backsplashes, but slab backsplashes are steadily gaining ground. Popular ones include those made from engineered quartz and large-format porcelain. The appeal is simplicity. Slabs reduce grout lines, streamline cleaning, and create a calmer visual backdrop. “Using a slab for a backsplash is the most impactful design choice you can make if you want a kitchen to have a luxury feel,” said Fontan. **How to get the look for less:** A full slab backsplash can be expensive, but homeowners can mimic the effect by extending countertop material behind the range or sink. Large-format tile with minimal grout lines offers a similar look at a lower cost. # Kitchen appliances get more functional, not more obvious Homeowners still invest in upgraded kitchen appliances. But the focus has moved from flashy finishes to features that simplify daily life. Most homeowners are choosing refrigerators with specialty functions such as adjustable temperature zones and maintenance alerts. Ovens with added functionality, including precise temperature control and remote monitoring, are also growing in popularity. In higher-end kitchens, that often shows up in how appliances are grouped and integrated. “People do want the top-of-the-line appliances, which are typically wall ovens,” said Fontan. Rather than dominating the room, these appliances are designed to blend into cabinetry and support cooking routines behind the scenes. **How to get the look for less:** You don’t need to upgrade every appliance at once. Start with the one you use most often. A single well-chosen upgrade can improve your overall design without overwhelming your budget. # How to decide which kitchen upgrades are right for your home https://preview.redd.it/57m3dm9pz8ng1.png?width=1125&format=png&auto=webp&s=05956ec6da4467851c5950a82d1ff2a7ee99b229 Before committing to any kitchen update, step back and ask three questions: * Does this improve how the kitchen functions day-to-day? * Will it still make sense if I sell in a few years? * Can I achieve a great effect without replacing everything? For homeowners planning a big or small renovation, tapping into [home equity](https://www.newamericanfunding.com/refinance/) is a common way to fund these upgrades. Since these loans are secured by existing equity, [interest rates](https://www.newamericanfunding.com/learning-center/homebuyers/this-is-how-much-your-mortgage-interest-rate-will-really-cost-you/) are often lower than those for credit cards or personal loans. However, the math still matters. Buyers and sellers should compare monthly payments, understand how borrowing impacts their budget. They should also avoid over-improving beyond what the home and neighborhood can reasonably support if you decide to sell your home in the future. [Take the next step in your homeownership journey with New American Funding.](https://www.newamericanfunding.com/lfk-cm-gn-txt-state/naf-menuf-b-appstatus/?loantype=purchase#refi-property-state-location)