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
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
Mortgage rates are a large element in the home buying process. They affect the size of your monthly mortgage payment, as well as the amount of interest you’ll pay. A low rate can mean lower payments, while a high rate can cost you a lot of money over the life of your loan. Read More
When it comes to buying a home, it’s best to get pre-approved. Pre-approval gives you a leg up on other buyers by showing that you are serious about buying a home. This will help you secure a better deal on a home and it will also help you secure financing for your home. A pre-approval letter will give you the knowledge you need to get the home of your dreams. Read More
Whether you’re looking to buy a new home, build a new one or refinance an existing one, you’ll want to know the basics. A mortgage is a long-term commitment and you need to understand the terms and costs. It’s important to know what to expect before you apply. The best thing to do is to make sure you have your credit score in check and take steps to improve it before you begin your home search. Read More
A few months ago, I sold my home and moved across the country. When I sat down with a real estate agent to discuss the possibilities, one of the most encouraging things she told me was that our home met the requirements for the USDA loan program. Read More
