Marco Santarelli

MAY 27, 2024

An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan. It allows you to take over the seller's existing mortgage instead of getting a brand-new one. This will involve a deep dive into your credit score, employment history, debt-to-income ratio, and any assets you hold.

Debt-to-income ratio 96

Debt-to-income ratio Mortgages FHA loan VA loan 96

HomeLight

SEPTEMBER 8, 2020

There are a lot of costs you have to worry about, such as the down payment , closing costs , your monthly mortgage amount , and more. When you risk buying a home without an agent , you might find yourself facing unexpected costs you could have otherwise avoided. Don’t forget about transition costs.

Inspection 98

Inspection Closing costs Debt-to-income ratio Title 98

Redfin

FEBRUARY 24, 2025

Unexpected expenses: Unforeseen challenges, such as discovering hidden underground utilities, can lead to additional costs. Financing and closing costs: If you’re financing the land purchase or construction, anticipate paying 2% to 5% of the loan amount in closing costs. is $419,200. through 2025.

Debt-to-income ratio 31

Debt-to-income ratio Construction Land Renovation 31

HomeLight

JULY 14, 2021

Week by week, you slowly add to your nest egg, trying to accrue enough to cover the down payment , closing costs , and any other expenses, not to mention making sure you have enough of a cushion that your home purchase won’t totally deplete your savings. All product names, logos, and brands are property of their respective owners.

Banks 105

Banks Debt-to-income ratio Loans FHA loan 105

Marco Santarelli

NOVEMBER 19, 2024

An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan. It allows you to take over the seller's existing mortgage instead of getting a brand-new one. This will involve a deep dive into your credit score, employment history, debt-to-income ratio, and any assets you hold.

Debt-to-income ratio 52

Debt-to-income ratio FHA loan Mortgages VA loan 52

Marco Santarelli

AUGUST 8, 2024

Refinancing replaces your existing mortgage with a brand new one, and you can typically choose a new loan term, which could be another 30 years. Potentially qualify for a larger loan amount: A longer loan term may increase your debt-to-income ratio (DTI) eligibility, allowing you to borrow more money.

Mortgages 52

Mortgages Debt-to-income ratio Equity Loans 52

HomeLight

JUNE 13, 2022

You need to save up money for a down payment and closing costs (which are calculated as a portion of your purchase price), but home prices just keep going up — so when you finally reach your goal, you realize that the goalposts have moved, and the hill is even taller than you thought. You’re trying to pay off debt.

Purchase and sale agreement 116

Purchase and sale agreement Loans Inspection Closing costs 116