Preparing to Have Your Debt-to-Income Ratio Evaluated

According to the new CFPB Mortgage Rules, borrowers applying for a mortgage must have a debt-to-income ratio of 43 percent or lower. While this change doesn’t differ from previous lending tactics, the number comes from calculating a borrower’s total monthly…

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What to Expect for Mortgages and Buying a Home in 2014

The mortgage industry stands on the precipice of radical changes – modifications that are ultimately for the better but, in the short term, may actually slow down home sales. What finishes off 2013 sets the stage for 2014, with the…

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The Hidden Costs of Homeownership

So, as you prepare to buy a home for the first time, you allot funds aside to pay the 20-percent down payment. However, the down payment and monthly mortgage amount make up just one portion of the many costs associated…

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Five Crucial Terms for the Mortgage Application Process

It’s inevitable to start the mortgage application process after you’ve worked with a Realtor®, selected a house, and now need financing to move forward. Yet, the process remains one of the most dreaded for potential homebuyers, and part of that…

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Conforming Conventional Mortgage Rates Continue to Rise

Rates for conforming conventional loans continue to see increases. Percentages started going up close to a month ago, and while still historically low, they don’t look to be going down any time soon. According to an Associated Press report, Freddie…

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