Remove Debt-to-income ratio Remove Proof of funds Remove Purchase and sale agreement
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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. The number is then multiplied by 100 to get the final percentage.

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

The Close

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Active contingent. Call option.