Buying your first home can be a daunting task. It’s a big financial decision, and there are lots of small decisions to make. There are also lots of resources available to help first time home buyers along the way. You’ll need to do your homework, though, as there are plenty of programs out there to suit your needs. Read More
The debt-to-income ratio is a very important factor to consider when you apply for a mortgage. Lenders want to be sure that you have the capacity to pay off a loan before they agree to offer you a loan. A higher DTI can increase your risk of defaulting, which is a risk lenders do not want to take. By paying off any existing debts, you can reduce your DTI. Read More
For those looking to purchase a house in a rural area, the USDA loan is an excellent option. It is designed to help people with low-moderate incomes buy homes in rural areas. In order to qualify, you must meet basic eligibility requirements, and your debt-to-income ratio should not exceed 50%. You must also prove that you can afford your mortgage. If you have a stable source of income, such as a job, you should be able to get a USDA home loan. Read More
Buying your first home is a big deal, and the process can be overwhelming. The good news is that there are many resources available for first time buyers. Some are designed to make the process a little easier, while others are specifically aimed at buyers in particular areas. For instance, down payment assistance programs can help you buy your dream house without breaking the bank. Read More
A USDA loan is a home mortgage offered by the United States Department of Agriculture (USDA). The program is designed to help rural Americans buy homes. These loans don’t require a down payment and carry low, fixed interest rates. However, there are some important requirements for eligibility. Read More
