Debt-to-income ratio Pre-qualification Title 
Redfin
JULY 30, 2025
It covers a variety of fees like lender and title fees, property taxes, home inspection, and homeowners insurance, to name a few. Lower your debt-to-income ratio: Paying down existing debt can improve your financial profile, helping you qualify for lower interest rates. What are the closing costs?
Redfin
JULY 31, 2025
Look into first-time homebuyer benefits Many programs are designed to make homeownership more accessible for first-time buyers by reducing upfront costs, lowering monthly payments, and helping with mortgage qualification. Common closing cost fees include: Application fee: Up to $500 Appraisal fees: $300-$500 Title insurance: 0.5%
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Redfin
JULY 7, 2025
In many states, a house purchased during the divorce process may still be considered marital property, even if only your name is on the title or mortgage. Get clear pre-approval: Make sure your mortgage pre-approval reflects your current debts, legal obligations, and post-divorce income so you know what you can truly afford.
HomeLight
FEBRUARY 12, 2021
As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. Dill shares that it’s only a myth that FHA-backed offers are by default weak offers: “They are strong and well-qualified buyers with steady income.
Redfin
JULY 11, 2023
Government-backed loans, such as FHA or VA loans, provide more flexible qualification criteria and specific benefits. How does the mortgage pre-approval process work? Mortgage pre-approval is a crucial step in the homebuying process. What are closing costs?
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.
Redfin
AUGUST 29, 2024
Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). DTI is calculated by dividing total monthly debts by gross monthly income. The number is then multiplied by 100 to get the final percentage.
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