Realty Biz
JANUARY 19, 2024
Many first-time home buyers have low credit scores and need help with high debt-to-income ratios. Consider your monthly income, expenses, and debt-to-income ratio when setting a budget for your new home. Again, local market conditions determine whether you can get any seller concessions.
The Close
FEBRUARY 20, 2024
When lenders look at approving buyers for a mortgage, they traditionally calculate the monthly payment amount to stay within a certain debt-to-income ratio. Interest rate changes can affect your budget for a home by $25,000 or more.
Redfin
MARCH 3, 2022
Any changes in your debt-to-income ratio or credit score could cause issues with your loan application, which increases the chance of a delayed closing. Douglas Toland Jr of Performance Mortgage suggests that buyers avoid making any changes to their credit reports before the deal has gone through. Clouds on the title.
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