Tag: home buying
It is never too early
Buying a home takes considerable financial planning and resources. This is why it is never too early to start planning your future home purchase.
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.
Since 2015, the National Association of Realtors has made a point to warn consumers and Realtors alike about the dangerous and sophisticated use of wire fraud scam targeted towards home buyers. Unfortunately, criminal activity involving this type of scam has not slowed down since that time. Wire fraud scams are still a serious problem but you can protect yourself by being aware of how the scam works.
A home is one of the biggest investments that you are likely to make in your lifetime. Yes, that’s right. You heard me. Your home is an investment. Every month you pay money towards your future in each mortgage check. This is why you want to do everything you can to ensure you get a good return on your investment. After all, when you retire, you may just want to cash in and downsize or move to the coast.
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.
Buying a home is one of the most important decisions in the life of an average American. This large purchase requires months or years of preparation. For those who are planning their home purchase, this video may be helpful. It lists the steps that lead up to the search and eventual purchase of a new home.