The Importance of Your Debt-to-Income Ratio

There are several ratios that lenders use in the mortgage qualification process; one of the most important of these is the debt-to-income ratio. This compares how much of certain types of debt you have to how much you earn. Income calculations are always done on a gross, or before-tax, basis. There are actually two debt-to-income … Continue reading The Importance of Your Debt-to-Income Ratio

Three Reasons Why You Can’t Get a Home Loan

photo by: Daniel Kulinski source: Flickr.com While there are many pre-cautionary steps one must take in deciding to purchase a home, making sure that you qualify for a home mortgage loan is key. If you have recently applied for a loan but were turned away, you may be wondering why or who’s really to blame? … Continue reading Three Reasons Why You Can’t Get a Home Loan

4 Easy Credit Tips for Homebuyers

You’ve heard it all before. Rates are low, house prices are rising, and homeownership is a great way to accumulate wealth in the long term. So everyone should run out and buy a house, right? Before you make any major decisions,  you may want to make sure your credit is as prepared for this investment … Continue reading 4 Easy Credit Tips for Homebuyers