Simple mortgage definitions: Debt-to-Income (DTI)
December 27, 2019
Learn how to calculate your Debt-to-Income (DTI). See which mortgage programs and mortgage rates may be available to you.
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FHA Income & Debt Rules Affect Approvals
July 24, 2017
The FHA changed how it treats overtime income, part-time income, and gift funds; and, also how it treats student debt and loans for cars. This is big news for buyers of homes.
Your Debt-To-Income Ratio Can Tell You How Much Home To Buy
February 5, 2017
A debt-to-income ratio is not just a number for lenders to use. Buyers can calculate it themselves and use it to estimate their comfortable home payment.
Buying a house with low income or poor credit? Consider a co-borrower
December 11, 2019
It’s tough to buy a house with low income or poor credit. A co-borrower can help. Learn when to consider buying with a co-borrower and what to expect.
Bank statement mortgages for self-employed or freelance income [VIDEO]
November 26, 2019
Learn how to qualify for a mortgage with self-employed, seasonal or freelance income. There are no tax documents required for this mortgage program.
Refinancing your mortgage to consolidate debt: Pros, cons, and alternative options
October 4, 2019
The debt consolidation mortgage is one way to lower the payments and interest rate on your debts. But it’s not the best solution for everyone.
Refinance options when you lose income, experience a financial setback
June 12, 2019
Today’s rates make a refinance a good decision if your income has been reduced or you’ve encountered another financial challenge. These programs can help.
VA loan income eligibility helps home buyers. Here’s how
May 8, 2019
The Department of Veterans Affairs (VA) has a unique way of looking at income. Instead of the total number, it’s most interested in “residual income,” the cash you have left over after all major expenses.
FHA loan income limits: Are there any?
May 1, 2019
FHA is one of the most popular home buying programs in existence. What does it take to qualify? Do you make too much to be eligible for FHA?
Freddie Mac HomeOne mortgage program: 3% down with NO income restrictions
April 5, 2019
The Freddie Mac HomeOne program removes income and geographic restrictions from its 3% down loan. Buyers can qualify for a low down payment even without low-income status.
What the experts say: Buying a home on a single income
February 2, 2019
Buying a home on a single income can be a challenge, especially in more expensive markets. Today’s experts tell you what you need to know.
When is income not income for mortgage qualifying?
February 1, 2019
How much income do you need for a mortgage? What kind of income for mortgage approval do you need? No, not how much. But what sorts of income will lenders […]
How student loan debt hurts Millennial home buyers
October 24, 2018
It’s no secret that crippling student loan debt keeps many Millennials from buying a home. But according to new data, Millennials with student loan debt aren’t just less likely to own a home. When they do buy? They face more expensive mortgage loans and lower home values, too.
How to buy a house with low income in 2020
September 30, 2018
You can buy a house with low income if you meet the guidelines for one or more of these mortgage programs. Here’s how to do it.
Too much debt to buy or refinance a home? Here’s your plan
September 6, 2018
High debt payments make it harder to get approved for your mortgage. When your debt-to-income ratio is too high, you can get it under control.