After 10 years of marriage, I’m still enjoying living in the first home I moved into with my husband. Buying a first home can be one of the most exciting events in a person’s life. Before making this important expenditure, people need to first sit down and determine how they will successfully finance it. After all, a home will likely be the most expensive purchase you make in your life. Talk to a loan officer and determine how much money you can reasonably borrow. Then, decide how much money you want to use as a down payment. You also must decide how many years you will finance your home for. On this blog, you will learn about the process of buying a first home with a loan.
31 January 2023
There are many individuals that will be interested in purchasing investment properties. These properties can be a source of profit through both rental incomes as well as property appreciation. Unfortunately, buying an investment property can be different from buying a primary residence in a few ways. Take Advantage Of DSCR Mortgage Solutions A key difference when applying for a mortgage for an investment property will be the fact that these loans will often have different requirements for approval.
3 January 2023
Buying a home for the first time is a great step toward increasing your financial stability down the road, but it can also be a daunting process. The home loan process is a key component of your search. You will be spending a lot of time focused on getting qualified for a home loan and making sure you only take out a mortgage you can truly afford. Here are a few home loan tips for first-time buyers to help guide you along the way:
28 October 2022
Lenders want to make sure you can afford the home you're buying, so they calculate how much of your monthly income is needed to satisfy your debts to ensure there's plenty of money left over to pay the mortgage. This is called the debt-to-income (DTI) ratio, and many banks will turn down your application if the percentage is too high. However, there are two ways you can still get approved with a high DTI.
19 September 2022
Are you planning to purchase property to grow your wealth or portfolio? Perhaps the only thing stopping you from buying various properties is a shortage of funds. Fortunately, you can acquire the property through financing. So, what should you do to ensure your investment property loan is approved? The following are some tips to guide you. 1. Save a Significant Amount Before Applying for a Loan Like home loans, your lender might need you to pay some cash towards the property deal.
28 July 2022
Owning a home is a dream for many people. But the process of buying a home can be daunting, especially for first-time buyers. One of the first steps in the home-buying process is getting pre-approved for a mortgage. Read on to learn more about mortgage pre-approvals, including what they are, how to get one, and what to expect. What Is a Mortgage Pre-Approval? A mortgage pre-approval is a letter from a lender that indicates how much money you can borrow to purchase a home.