HomeLight

OCTOBER 11, 2021

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners. How much house can you afford if you’re getting an FHA loan?

FHA loan 77

FHA loan Loans Debt-to-income ratio Closing costs 77

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio 83

Debt-to-income ratio Mortgages FHA loan Loans 83

HomeLight

MAY 31, 2021

One of the first things you’ll want to know is just how much house you can afford , which is based on your income, credit score, debt-to-income ratio (DTI), and savings amount (including your down payment). I had some clients a few years ago that had trouble qualifying because they had a lot of debt.

Mortgages 57

Mortgages Debt-to-income ratio Loans Closing costs 57

HomeLight

JANUARY 27, 2021

Your mortgage payment is more than just the cost of the principal and interest on your loan. to 1% of the loan amount annually. Make sure you budget for the entirety of your monthly mortgage payment, not just your principal and interest! Know your loan types. Conventional loan. This can spell trouble.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

Redfin

FEBRUARY 10, 2021

PMI is an added insurance charged by mortgage lenders to protect themselves in case you default on your loan payments. 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.

Debt-to-income ratio 75

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 75