What’s a good debt-to-income ratio for a mortgage? What lenders want to see
March 22, 2021
What’s a good debt-to-income ratio for a mortgage? Most lenders want to see 43% or lower. But a higher DTI can be ok, too. Here’s what you should know.
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Debt-to-income ratio, taxes, and insurance: How your DTI is calculated
January 12, 2021
DTI, your ‘debt-to-income ratio,’ includes taxes and insurance as part of your mortgage payment. Here’s how to find your DTI with taxes and insurance.
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.
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.
New refinance could save low-income borrowers $2,000-$3,000 per year
May 3, 2021
A new refinance option from FHFA could help low-income homeowners save $2,000 per year or more. Learn about program rates and requirements here.
How much should my mortgage be compared to my income?
April 26, 2021
How much should your mortgage be? It’s all about how large of a monthly mortgage payment you can comfortably afford. Learn how to find the answer.
How to buy a house with low income in 2021
April 23, 2021
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.
How to calculate commission income for a mortgage
April 13, 2021
Commission income is usually accepted by lenders if you have a 2-year earnings history. See how lenders calculate commission income for mortgage qualifying.
Buying a house with student loans: How debt affects your eligibility and budget
March 19, 2021
First-time home buyers often ask, ‘Can I buy a house with student loans?’ You can, but you should know how student loans will affect your mortgage.
Debt consolidation refinance: How it works, pros and cons
January 15, 2021
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.
How to qualify for a mortgage with bonuses and RSU income
December 22, 2020
Bonuses and RSU income can be used for mortgage qualifying. But they’re calculated differently, and not all lenders accept them. Here’s what to know.
How much income do you need to afford a $1M house?
November 24, 2020
Find out how much income is needed to afford a $1 million house. The answer will vary based on your credit, down payment, and debts.
2021 VA Loan Residual Income Guidelines For All 50 States And The District Of Columbia
January 2, 2020
Defining “residual income” for VA borrowers, and listing requirements by state and by size of your family. Analysis, plus live VA rate quotes which are typically 25 basis points (0.25%) or more below comparable conventional rates.
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.