
Mortgage seasoning: What is it and what are the requirements?
It means you need to have money on hand to get a mortgage. And like fine wine — the longer, the better.
Alice has covered personal finance topics, from the perspective of a writer and an editor, for more than 11 years, and she has spent the past three years focusing on the homebuying, homeownership and mortgage rate trends. She loves translating industry data and statistics into insights homebuyers can use. She’s had work appear in outlets including Newsweek, The Washington Post, The Associated Press, USA Today and MarketWatch.
When she’s not working, Alice is likely reading, cooking or spending time with her kids.
My husband and I bought our first house in late 2023. We were hesitant to even start looking because of high interest rates and home prices, but we ended up putting in an offer – and having it accepted – on the first home we saw. We knew our move date was flexible, so we were able to choose a house that needed a little bit of work. That meant we weren’t competing with a bunch of other buyers for the same property.
Don’t disqualify yourself from the housing market just because it seems intimidating. If you have your financials in order and you’re really hoping to buy, find a good agent and tour a few homes. Being able to offer the seller some flexibility could get you an offer accepted, even in a hot market.
It means you need to have money on hand to get a mortgage. And like fine wine — the longer, the better.
Government layoffs at HUD, the FHFA and the CFPB could impact consumers — but for now, little has changed.
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Earning some money from your property doesn’t automatically make it an investment.
Up to four, usually. But it’s complicated.
A VA cash-out refinance can help you save money, but it isn’t free.
No, it’s not exactly the same as refinancing your home’s mortgage.
You need to crunch numbers to see if a refi makes sense.