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How to Buy a House in 15 Steps: The Ultimate Guide

Redfin

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). DTI is calculated by dividing total monthly debts by gross monthly income. What’s an earnest money deposit?

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Home Buying Checklist: A Survival Guide for Buyers

Redfin

Here are the steps to determine how much house you can afford: First, determine your debt to income ratio (DTI). This is your monthly expenses versus your cash intake or the bills you pay divided by your gross monthly income. Debts include recurring bills, such as car payments, daycare payments, and student loans.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Simply put, this measures the number of days a property is for sale, from the day it is listed on the multiple listing service (MLS) to the day a buyer and seller are under contract. Debt-to-income ratio (DTI). Earnest money deposit. Multiple listing service (MLS). Related Article.