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Why Your ‘Debt-to-Income Ratio’ Number Matters When Obtaining a Mortgage

August 26, 2016 by Robby Oakes

If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application.

Filed Under: Mortgage Tips Tagged With: Mortgage Tips

Bi-weekly or Monthly Mortgage Payments – Which is better?

August 16, 2016 by Robby Oakes

When you apply for a new mortgage, your lender may ask if you want to set up monthly payments or bi-weekly payments. At one time, monthly payments were common, but bi-weekly payments are increasing in popularity. This is because they break a large expense up into two smaller and seemingly more manageable payments. In addition, you can also make what equates to a full extra payment on the mortgage each year with a bi-weekly payment structure. Before you decide which is best for you, consider a few factors.

Filed Under: Mortgage Tips Tagged With: Mortgage Tips

Three Proven Ways You Boost Your Credit to Get a Mortgage Approved

August 12, 2016 by Robby Oakes

Credit problems are unfortunately common, and they can make it difficult for you to obtain a mortgage. Even if you are able to obtain a mortgage with your credit issues, the rate may be rather high in comparison to what you may qualify for if you obtain a mortgage without fixing your credit problems. While some issues may take a while to fix, you may be able to see a decent increase in your credit rating when you follow a few easy steps.

Filed Under: Mortgage Tips Tagged With: Credit Score, Mortgage Approvals

Eliminate These 5 Barriers To Saving For Your Down Payment This Month!

February 19, 2016 by Robby Oakes

With all the expenses that go into monthly living and the temptations that come along with life, saving money for the down payment on your new home can be quite a struggle for many people. If you’re having a hard time saving and are wondering what you can do to ensure a higher bank balance next month, here are a few things that may pose a risk getting the home of your dreams.

Filed Under: Mortgage Tips Tagged With: Down Payment, Financial Planning, Home Purchase

What Factors Affect Mortgage Payments?

November 20, 2015 by Robby Oakes

As this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment.

Filed Under: Mortgage Tips Tagged With: Mortgage Tips, Video Tips

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