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. Here's how it works: The seller's original mortgage terms, including the interest rate, loan balance, and repayment schedule, are transferred to you, the buyer.

Debt-to-income ratio 96

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

HomeLight

OCTOBER 27, 2020

If you are employed full-time, and your salaried job is your only source of income, you can usually get away with providing your W-2s and a paycheck stub when applying for a loan — you won’t need to provide tax returns. That’s not true of every loan, though. down payment. Header Image Source: (Leon Dewiwje / Unsplash).

Debt-to-income ratio 105

Debt-to-income ratio Pre-approval Pre-qualification Loans 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. Here's how it works: The seller's original mortgage terms, including the interest rate, loan balance, and repayment schedule, are transferred to you, the buyer.

Debt-to-income ratio 52

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

HomeLight

JULY 14, 2021

The interest you pay for a 401(k) loan is usually much less than for a consumer loan, but buyers should keep in mind that it also adds another monthly payment, which can affect debt-to-income ratios when qualifying for a mortgage. All product names, logos, and brands are property of their respective owners.

Banks 105

Banks Debt-to-income ratio Loans FHA loan 105

HomeLight

SEPTEMBER 8, 2020

If you expect to pay between 3% (the minimum for a down payment) to 6%, then some of your options include an FHA loan, a Fannie Mae HomeReady loan, or a conventional loan. Even a brand new home is likely to have at least one issue in need of resolving. The inspector will inevitably find something wrong.

Inspection 98

Inspection Closing costs Debt-to-income ratio Title 98

HomeLight

JUNE 13, 2022

One of the biggest reasons why some people choose to rent-to-own a house is because they need time to build or improve their credit scores before they can qualify for a mortgage loan. If you just moved to the country, or you just entered the workforce, then you might not have a deep enough work history to qualify for a mortgage loan.

Purchase and sale agreement 116

Purchase and sale agreement Loans Inspection Closing costs 116