Remove Debt-to-income ratio Remove Inspection Remove Pre-qualification Remove Title search
article thumbnail

This Checklist and Timeline Is Your GPS for Buying a House

HomeLight

While you’ll find lots of ways to ballpark your housing budget, the real determiner will be your debt-to-income ratio , or DTI. The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI. Get a home inspection. Explore special programs.

article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. Clear title. Debt-to-income ratio (DTI).