HomeLight

OCTOBER 22, 2021

You may be wondering how affordability calculators work if you’re ready to get some numbers down on paper before showing up for a pre-qualification meeting with a lender. Debts: How much of your income is going toward monthly minimum debt payments? Source: (Joshua Hoehne / Unsplash). What’s the 28/36 rule?

Pre-qualification 111

Pre-qualification Pre-approval VA loan FHA loan 111

HomeLight

AUGUST 31, 2020

VA loans also offer even more benefits, like better interest rates and less strident qualifications — but as the name indicates, they are only available to current military members or veterans (or their spouses). One of the key eligibility factors is an area’s population size rather than the amount of rural land surrounding a house.

Debt-to-income ratio 93

Debt-to-income ratio FHA loan Pre-qualification VA loan 93

HomeLight

JUNE 27, 2022

You will start with purchasing a plot of land and then hire a team to plan and complete the project from start to finish. Finding a plot of land to purchase for your custom home can also be difficult, and you will want to take your time to decide on where you could see yourself living. Do you like the idea of living in a cul-de-sac?

New Construction 105

New Construction Construction Inspection Pre-approval 105

The Close

DECEMBER 29, 2022

Debt-to-income ratio (DTI). You can help your clients calculate their DTI by adding together all of their monthly payments and dividing the total by their gross monthly income. One example is someone using a private road to access their own land. Pre-approval. The owner can receive tax credits in exchange.

Purchase and sale agreement 98

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