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.

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.

How to buy a house with low income in 2021

July 3, 2020

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.

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.

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.