Over the past week, we’ve seen mortgage interest rates drop to historic lows. Last week, Freddie Mac announced the lowest rates ever in the history of the lender. The average new rate of 2.98% for a 30-year fixed-rate mortgage has been in response to concerns about the state of the […]
What Documents You Will Need to Apply for a Mortgage
Before purchasing a home, most buyers will need to qualify for a mortgage. In order to be approved, a buyer will need to prove to a lender that they are capable of paying the mortgage payments and household expenses as well as having a responsible financial history. Lenders do this […]
What Is a Debt-to-Income Ratio and How Does it Affect Your Mortgage Approval?
If you’re looking for mortgage financing, you may have already come across the term debt-to-income ratio or DTI. This figure will play an important part in whether you get mortgage financing and the amount of financing that is available to you. Comparing Debt to Income Your DTI ratio is a […]
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