Remove Debt-to-income ratio Remove New Construction Remove Pre-approval
article thumbnail

Housing Market 2025: Why It’s Not 2008 Crash All Over Again

Marco Santarelli

Let's delve into the critical factors that set the 2025 housing market apart from the pre-crash era. Reckless construction and speculative buying led to a surplus that couldn't be sustained when the economy faltered. Work with a reputable lender to get pre-approved for a mortgage.

article thumbnail

Buying New Construction for the First Time? Here Are the Dos and Don’ts You’ll Need to Know Before Jumping In

HomeLight

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. However, you want to arm yourself with the tools and insider information so you don’t get too carried away with the new build. The dos of buying new construction.

article thumbnail

How to Get a 203k Loan in 6 Steps (And What Else to Consider As a Buyer)

HomeLight

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