Windemere Buying

OCTOBER 18, 2021

Buying a home that’s outside your budget will put added pressure on your finances and increases your chances of foreclosing, should your financial situation take a turn for the worse. Because new credit changes your debt-to-income ratio, lenders will likely want to review your mortgage approval and your risk of non-payment.

Pre-approval 52

Pre-approval Pre-qualification Debt-to-income ratio Inspection 52

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. Contingencies: Financing, home inspection, and appraisal. Closing date. Earnest money deposit amount.

Earnest money deposit 92

Earnest money deposit Title Inspection Title search 92

HomeLight

JANUARY 27, 2021

Home financing. This gives both you and the seller more peace of mind that the deal will close and financing won’t hold things up. You’ll know how much home you can afford, and you can shop confidently knowing we’ve already looked under the hood of your finances. Definitely include an inspection contingency.

Closing costs 116

Closing costs Loans Inspection Earnest money deposit 116

HomeLight

JUNE 30, 2022

Line up financing. It’s important to line up financing well in advance of when you want to start making offers. Be sure to do your research to find a reputable lender who can guide you through financing your first home purchase. So you want to buy a house, but how are you going to pay for it?

Purchase and sale agreement 72

Purchase and sale agreement Inspection Earnest money deposit Closing costs 72

HomeLight

FEBRUARY 28, 2022

Figure out your finances. Or you may be able to use a bridge loan, a form of short-term financing that helps bridge the gap between buying and selling (more on this option in a minute). They’ll also look at your debt-to-income ratio to determine whether you can get preapproval for the loan before selling your current home.”.

Equity 118

Equity Debt-to-income ratio Closing Loans 118

Redfin

FEBRUARY 10, 2021

Have a Healthy Debt-to-Income Ratio (DTI). Another key component banks consider when issuing loans, is your debt-to-income ratio. The debt-to-income ratio is a lender’s way of comparing your monthly housing expenses and other debts with how much you earn.

Debt-to-income ratio 76

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

HomeLight

OCTOBER 29, 2021

There are plenty of mortgage loan calculators to be found online, and generally speaking, lenders don’t want to see your total debt, including your mortgage payment, exceed 45% of your income; some borrowers can go up to 50%. This is known as your debt-to-income ratio (DTI). But still get a home inspection!

Inspection 89

Inspection Loans VA loan Title 89