Redfin

FEBRUARY 10, 2021

Have a Healthy Debt-to-Income Ratio (DTI). Another key component banks consider when issuing loans, is your debt-to-income ratio. The debt-to-income ratio is a lender’s way of comparing your monthly housing expenses and other debts with how much you earn.

Debt-to-income ratio 76

Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

HomeLight

JUNE 30, 2022

Even in a competitive housing market, where buyers are waiving inspection contingencies , it’s always a good idea to get an inspection so you know what exactly is wrong with the house before you take ownership. Additionally, you may qualify for a conventional loan with as little as 3% down.

Purchase and sale agreement 96

Purchase and sale agreement Inspection Earnest money deposit Closing costs 96

HomeLight

JULY 29, 2022

This can radically alter their debt-to-income ratio and jeopardize the whole deal. If you can’t secure new employment swiftly, you might be able to add a cosigner to your loan and count that person’s income toward your purchase. Talk to your agent and loan officer about these options.

Closing 105

Closing Purchase and sale agreement Title Home sale contingency 105

HomeLight

JANUARY 27, 2021

This can cause issues if there are errors on your application or if there’s something the loan officer missed. Your lender is mostly thinking in terms of your DTI (debt-to-income ratio, or how much you pay toward debt each month versus how much you actually make).

Closing costs 119

Closing costs Inspection Loans Earnest money deposit 119