Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. The 28/36 rule is a common mortgage budgeting guideline.

Debt-to-income ratio 43

Debt-to-income ratio Backup offer Finance Pre-approval 43

Redfin

MARCH 25, 2021

Get pre-approved for a home loan. It’s always wise to seek a mortgage pre-approval before you start searching for a house. When you’re buying in a seller’s market, that pre-approval is essential. Ways you can improve your credit score can include: Paying down debt to improve your debt-to-income ratio.

Pre-approval 71

Pre-approval Debt-to-income ratio Marketing Mortgages 71

HomeLight

AUGUST 31, 2021

Only lenders that have been approved by the FHA can offer 203(k) loans. All repairs must be planned, specified, and approved in advance. Your debt-to-income ratio should not exceed 43%, including current debts plus future mortgage costs. Completed repairs must be inspected by a HUD-approved inspector.

Loans 104

Loans FHA loan Pre-approval Finance 104

Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. Maintaining a low debt-to-income ratio and a strong credit score can also enhance your eligibility for favorable mortgage terms. The 28/36 rule is a common mortgage budgeting guideline.

Debt-to-income ratio 38

Debt-to-income ratio Backup offer Finance Pre-approval 38

Redfin

AUGUST 12, 2024

Income stability : Lenders prefer borrowers with a stable income and employment history. Documenting at least two years of consistent income can be crucial. Debt-to-income ratio (DTI) : This ratio compares your monthly debt payments to your monthly gross income.

Loans 74

Loans Mortgages Pre-approval Fixed-rate mortgage 74

The Close

FEBRUARY 20, 2024

This means you’ve got a pre-approval in hand and that you understand the importance of being flexible. When lenders look at approving buyers for a mortgage, they traditionally calculate the monthly payment amount to stay within a certain debt-to-income ratio. There are lots of reasons for this.

Marketing 98

Marketing Debt-to-income ratio MLS Pre-approval 98

Redfin

JUNE 14, 2023

The city’s diverse neighborhoods offer a range of affordable suburbs , from historic districts like Fisher Park to modern developments in the suburbs. Get pre-approved from a lender Getting pre-approved from a lender is equally important with several significant benefits.

Pre-approval 59

Pre-approval Debt-to-income ratio Closing costs Title 59

HomeLight

MAY 26, 2021

Like a co-op lifestyle may be different from other housing developments, so is the purchase process. You’ll need a pre-approval letter if you’re getting a share loan (more on this in a minute), and you will gather all necessary documents (offer letter, purchase agreement, etc.) Artist co-ops. Mobile home parks.

Purchase and sale agreement 105

Purchase and sale agreement Pre-approval Equity Debt-to-income ratio 105

HomeLight

MARCH 17, 2021

While you’ll find lots of ways to ballpark your housing budget, the real determiner will be your debt-to-income ratio , or DTI. The lender wants to be sure you can pay back the mortgage plus any other debts you owe, so the bank will calculate your DTI. You need an idea of how much house you can afford.

Pre-approval 98

Pre-approval Purchase and sale agreement Title Closing 98

HomeLight

JUNE 30, 2021

The VA allows a debt-to-income ratio of 41% or less ( some lenders might allow up to 50%! ). As the name implies, the Conventional 97 program , or the 97 loan-to-value purchase program, allows homebuyers to have an LTV ratio of 97%. VA loans offer borrowers plenty of benefits: Zero down payment. No prepayment penalty.

VA loan 94

VA loan FHA loan Mortgages Closing costs 94

The Close

DECEMBER 29, 2022

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. These mortgages were developed in the 1980s in an era of double-digit interest rates when borrowers were hopeful that the rates wouldn’t rise much more. Debt-to-income ratio (DTI).

Purchase and sale agreement 98

Purchase and sale agreement Title Pre-approval Proof of funds 98

Marco Santarelli

APRIL 6, 2025

Low Debt-to-Income Ratios : A lower debt-to-income ratio indicates financial stability. Borrowers with manageable debt relative to their income are more likely to qualify for advantageous rates. The uncertainty around these developments could influence mortgage rates.

Debt-to-income ratio 59

Debt-to-income ratio Mortgages Pre-approval Pre-qualification 59

Marco Santarelli

FEBRUARY 22, 2025

Get Pre-Approved: If you're serious about buying, getting pre-approved for a mortgage is a crucial step. Plus, the pre-approval process will give you a good indication of the interest rate youre likely to qualify for. Get informed, get pre-approved, and talk to a mortgage professional.

Mortgages 85

Mortgages Pre-approval Loans Debt-to-income ratio 85

Housing Wire

FEBRUARY 6, 2023

In the past they would maintain a discipline of risk based pricing (RBP) according to the actual risk of the transaction and then would develop special programs outside the grid for first time homebuyers, minority buyers, or targeted census track and/or AMI levels. 25% – 375% should their debt-to-income ratio drift above 40%.

Debt-to-income ratio 476

Debt-to-income ratio Pre-approval Loans Mortgages 476