When it comes to securing a mortgage for your dream home, there’s a crucial number that can make or break your application: your debt-to-income ratio (DTI).
When it comes to securing a mortgage for your dream home, there’s a crucial number that can make or break your application: your debt-to-income ratio (DTI).
It’s important to manage your debt carefully and maintain a good credit score if you’re planning to apply for a new mortgage. By evaluating the following and staying on track, you can ensure that you’re ready for the financial responsibilities of a mortgage and can make an informed decision about homeownership.
When you apply for a mortgage, your lender will do some quick math to figure out how much of a loan you can afford. Your lender will consider many factors, and one of the most important ones is your debt-to-income ratio.
You have probably heard that refinancing could help you save money on your home loan. Even though you are probably focused on current mortgage interest rates, feverishly comparing them to your own interest rate, you need to check your financials first. What are a few important indicators of your financial health that you need to check before you go through the refinancing process?
If you want to save money on your mortgage, you might think about refinancing. Before you can complete the refinancing process, there are several documents you need to have. Make sure you have all of these documents organized before you go through the refinancing process.
If you are looking for a home, you might need to finance it using a lender, such as a bank or a credit union. There are a number of factors that will influence whether your mortgage application is approved.
Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days.