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25 Nightmare Scenarios That Can Disrupt Closing (And How to Avoid Them)

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This can radically alter their debt-to-income ratio and jeopardize the whole deal. If you can’t secure new employment swiftly, you might be able to add a cosigner to your loan and count that person’s income toward your purchase. But closing time can also be plenty to rack your nerves. Problem: You lost your job.

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21 Dos and Don’ts When Buying a Home

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For example, it may be worth strategically paying down some of your debt or disputing any errors on your credit report before purchasing a home. Your lender may require that you’re up to date on child support payments, don’t owe back income taxes, and aren’t currently involved in any lawsuit or litigation. Are you ready to dive in?