Tag: DTI

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Great News For Home Buyers

Fannie Mae, the country’s largest mortgage money source, will soon be easing its debt-to-income restrictions. This change has the potential to open the door to many new buyers who were previously unable to qualify. The DTI ceiling will be raised from its current 45 percent to 50 percent on July 29.

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Buyers Guide To Financing A Home

Setting A Budget The budget you would like to have and the budget you should have are two different things. Use receipts of past purchases to inform your budget. This will help you understand how much money you actually have to spend on housing. Tracking expenses will also give you insight about possible savings. Debt Reduction Debt to income ratio or DTI is something … Read More Buyers Guide To Financing A Home

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The Top 3 Reasons Buyers Fail To Secure A Home Loan

Recently, a federally compiled study scrutinized millions of buyers seeking mortgage loans. The study identified the three most common reasons why buyers are rejected by lenders during the mortgage application process.