First-Time Home-Buyers – Things to Know
First-Time Home Buyers – Things to Know Picture credited to https://www.eemortgagebroker.com.au/ Listen Buying a home is a major milestone in one’s life, but it can also be an intimidating experience, especially for first-time home buyers. With so many factors to consider, it’s easy to feel overwhelmed and confused about where to start. However, with the right […]
Get Pre-qualified Before Talking to a Realtor
Why There is a straightforward explanation as to why it is important to get prequalified prior to engaging with a real estate agent. By obtaining prequalification, you are demonstrating to the agent that you are genuinely interested in purchasing a property, and that your fundamental details align with the essential criteria for securing a mortgage. […]
Debt-to-Income Ratios
A debt-to-income ratio (DTI) is the relation of how much debt you have vs your total household income as a percentage. A lower percentage rate reflects that you are a stronger borrower versus the opposite. Lenders and creditors review your debt to income ratio as a measure of your ability to manage your monthly debts. KEYNOTES […]
Conventional or FHA and the First-Time Home Buyer
It’s a common debate when considering a first-time homebuyer program. Everyone wants to know what’s better, a conventional mortgage or FHA loan for a first-time homebuyer? While it sounds like it should be a cut-and-dry answer, neither the conventional nor FHA requirements state you must be a first-time homebuyer. There are variations of these loans […]