25
Jun
By
Home Mortgage Tips , ,

Starting to Shop for a Mortgage? How to Assess Your ‘Debt-to-Income Ratio’ and Why This Number Matters

Those who are looking to buy a home may want to start by shopping for a loan first. Having financing ahead of time may make it easier to get sellers to take a buyer seriously and help move along the closing process. For those who are looking to get a mortgage, the most important factor for having a mortgage application approved is the debt-to-income ratio of the borrower. What Is a Debt-to-Income Ratio? A debt-to-income ratio is simply the percentage of debt compared to the amount of income that a person brings in. If a person brought home $1,000 a…
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24
Jun
By
Home Mortgage Tips , ,

The FHA Hawk Program for New Homebuyers is Coming: Here’s How It Affects Your Mortgage Insurance Premiums

The FHA offers many new programs and incentives for new homebuyers to take advantage of so that they can be part of the effort to ease the credit crisis. If you are in the process of shopping for a mortgage prior to shopping for your new home, it can benefit you to learn about programs that you may qualify for that are being created by the Federal Housing Administration and piloted. One such plan, which has been approved as a four-year pilot program, is referred to as the FHA HAWK Program. Read on to learn how this program works and…
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18
Jun
By
Home Mortgage Tips , ,

Should You Finance The Sale Of Your Home By Yourself?

You've decided to put your home up for sale. Now, how are you going to make the most money selling it and get it sold the fastest? Perhaps you should consider providing owner financing, also known as seller financing.  Why Isn't The Buyer Getting Bank Financing? Usually a buyer gets bank financing when buying a home. If the buyer approaches you with a deal that involves you doing the financing, you'll want to ask why.  It could be that they can't afford a big down payment, and can't be approved for a loan without it. Or, they may not be…
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