HomeLight
AUGUST 29, 2022
DTI: Your debt-to-income ratio helps the lender assess if you as a borrower would be able to afford your monthly payment. It shows the amount of debt you have in comparison to your income. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.
HomeLight
JANUARY 27, 2021
Your lender is mostly thinking in terms of your DTI (debt-to-income ratio, or how much you pay toward debt each month versus how much you actually make). Definitely include an inspection contingency. When you buy a home, you’ll typically want to have it inspected first.
HomeLight
JUNE 30, 2022
Transaction details: the purchase agreement and a copy of your earnest money deposit. 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.
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