Your debt-to-income ratio is one of the key factors in qualifying for a new home loan. But how much do you really know about this important calculation and what can you do to move it in your favor? Your debt-to-income ratio, or DTI, is used by mortgage lenders in making a decision regarding your worthiness for a home loan. If your DTI is too high, you could end up paying a higher interest rate or worse...
A home purchase is a major commitment–likely the largest purchase you’ll make in your lifetime. Before you get too far down the road to homeownership, you need to be sure you’re prepared for the home-buying process. To get started, ask yourself the following six questions: 1. Do you have verifiable income and employment? While it’s true that your mortgage lender will want to be able to verify your...
by The Offer Company 
Homeownership brings with it a number of benefits. But, many homeowners believe the required down payment is well beyond reach. If that sounds familiar, you’ve probably been told you need to put 20% down to purchase a home. On a $300,000 home, that’s $60,000. Add costs for closing, inspection, appraisal and other fees and it’s no wonder a lot of people don’t think they will ever own a...
Whether or not you’re a first-time homebuyer, you’ve probably given some thought to how to negotiate with the seller when it comes to contract time. But most homebuyers focus only on price. While price is critical, it isn’t the only part of the contract you may want to negotiate. Particularly in a market when inventories are low, being able to negotiate on things besides price could help your...
