Category Archives: Mortgages

Know Your Debt-to-Income Ratio

When you are filling out a mortgage application, the lender will be asking you for specific financial information. One of the reasons they ask for this information is to enable the underwriter to calculate your debt to income ratio. This ratio is what most mortgage lenders use to determine the level of risk they are…
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Types of Mortgages & Home Buying FAQs

Buying a home is a big investment. For most of us, it’s the biggest loan we’ll have in our lives. The Consumer Financial Protection Bureau discusses the different types of loans, many of which are available through private lenders and partially guaranteed by different federal programs, thus offering benefits for people who qualify. Talk with…
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Buyers May Want to Ask Lenders: How Long to Close?

House hunters may want to ask their lenders how long it will take them to close on a loan while shopping for a mortgage. In a housing market where multiple offer situations have become commonplace, the ability for a buyer to close quickly can stand out to home sellers. Buyers should ask lenders: How long…
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