For those who are looking to buy a home soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. A low DTI may make it easier for the lender and the underwriter to justify making a loan to the borrower.
Last week’s economic reporting included readings on home builder confidence in housing market conditions, Commerce Department readings on building permits issued, and housing starts along with readings on retail sales. Weekly readings on mortgage rates and jobless claims were also published.
If you own a home, you understand just how important it is to take care of it. Even though a lot of people think that if it isn’t broken you should not fix it, that doesn’t mean you should not take care of it. Take a look at a few of the top home maintenance mistakes you need to avoid, and do not let your home fall into a state of disrepair.
If you’re considering applying for a reverse mortgage, you’ll want to ensure you understand certain critical factors. One such factor is the principal limit. The principal limit will have a strong influence on your finances, which is why you’ll need to ensure you know – before applying for your reverse mortgage – what your principal limit is.
The vast majority of people have to take out a home loan to purchase a house. This means applying for a mortgage. Unfortunately, shopping for a mortgage can actually hurt your credit score.
If you take a look at your mortgage options, you might find an option for a 40-year mortgage. Now, most lenders do not offer this as an option, but if you find yourself struggling to keep up with your mortgage payments, the lender may offer to restructure your loan into a 40-year term. Is this a smart move, and what do you need to know about this choice?
Last week’s economic reporting included readings on inflation and consumer sentiment along with weekly readings on mortgage rates and jobless claims.
If you have been in your house for a long time, there is a great chance that you have paid off almost the entirety of your mortgage. Furthermore, your home may have even gone up in value by tens of thousands of dollars.
If you have recently purchased a home, you are probably excited to move into your new house; however, the moving process can be stressful. There are a few important tips you need to keep in mind if you are moving soon. Make sure to plan ahead, as there are several ways to save time and money.
It may seem better to go it alone when it comes to acquiring a mortgage, but there are many benefits associated with using a mortgage professional that can make finding your dream home a lot easier. If you’re currently getting prepared to hit the market and are weighing your options, here are some reasons that a professional who knows the neighborhood will save you money.
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