Housing Wire
APRIL 7, 2021
A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Because of this, today’s lenders are more than willing to work with potential first-time homebuyers who have debt, just as long as their debt-to-income ratio (DTI) isn’t too high.
Housing Wire
DECEMBER 12, 2023
Assuming a 30-year fixed rate mortgage of 7% with 20% down payment, the monthly payment would be roughly $2,100. In this case, the total debt-to-income ratio (DTI) would be 51% and would exceed the Fannie Mae or Freddie Mac DTI limit of 50%. of sales price) Source: AEI Housing Center, www.AEI.org/housing.
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Housing Wire
MAY 3, 2023
. “The 2-year and 10-year US Treasury yields are down 2-3 basis points, which could help mortgage rates as the market digests the news and adjusts,” Jack Macdowell, chief investment officer at the Palisades Group , said. However, a higher interest rate environment can provide more opportunity for cash buyers.
Realty Biz
OCTOBER 21, 2020
Back in January of 2019, Ginnie Mae, which is a government sponsored entity that guarantees loans popular with first-time buyers and lower-income borrowers, reported that 44% of its purchase loans were granted to people with FICO scores of below 700 and a debt-to-income ratio of greater than 40%.
Marco Santarelli
OCTOBER 14, 2023
According to Freddie Mac's Primary Mortgage Market Survey (PMMS) , which tracks the average rates for 30-year fixed-rate mortgages since 1971 , mortgage rates have ranged from a record low of 2.65% in January 2021 to a record high of 18.63% in October 1981.
Realtor.com
FEBRUARY 2, 2022
Watch your debt-to-income ratio. When you retire, your lack of income may scare some lenders. But if you’re on top of your debt-to-income ratio, you’ll look a lot more financially stable. “To So beware of lenders you find on the internet, who may offer only 1-800 numbers and limited office hours.
Housing Wire
MARCH 10, 2023
Toohig adds that lenders are telling him that their customers “don’t want to do a new 30-year fixed-rate mortgage at 6.25%, and we’d rather do a smaller-balance HELOC [home equity line of credit] instead to improve their property.” And we have more of an asset-based underwriting not focused on debt-to-income ratios.”
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