Redfin

FEBRUARY 10, 2021

Money that is not going against the principal of your mortgage. Have a Healthy Debt-to-Income Ratio (DTI). Another key component banks consider when issuing loans, is your debt-to-income ratio. So what is a healthy debt-to-income ratio when applying for a home loan?

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

HomeLight

JANUARY 27, 2021

Your mortgage payment is more than just the cost of the principal and interest on your loan. Make sure you budget for the entirety of your monthly mortgage payment, not just your principal and interest! Definitely include an inspection contingency. When you buy a home, you’ll typically want to have it inspected first.

Closing costs 114

Closing costs Loans Inspection Earnest money deposit 114

HomeLight

JUNE 30, 2022

Even in a competitive housing market, where buyers are waiving inspection contingencies , it’s always a good idea to get an inspection so you know what exactly is wrong with the house before you take ownership. A new trade line could alter your debt-to-income ratio and throw off the whole deal if you are not careful.

Purchase and sale agreement 70

Purchase and sale agreement Inspection Earnest money deposit Closing costs 70