We’ve all likely heard the story, maybe at a cookout or in the break room at the office. The homebuying nightmare of being a week away from closing on the new, beautiful home, and then someone, unfortunately, heard from their lender, the bomb drop of “we may have a little problem.”
When you’re applying for a mortgage, you know that your credit score plays a big role in your approval — and it can affect your interest rate too. But do you know how your score is calculated?
Your debt-to-income (DTI) ratio is an important factor when applying for a mortgage or refinance. Not only does it play a role in your ability to qualify, but it can also influence your interest rate and the long-term costs of your loan.
Fortunately, if you’re a first-timer — or if you haven’t owned a home in at least three years — there are loads of federal and state resources available. They can make buying a home easier, more affordable, and more accessible.
When you buy a home, you tend to encounter a lot of financial jargon. Whether you’re buying your first home, a move-up space or an investment property, there are countless new phrases that you might not recognize throughout your journey.
The mortgage process can often be a confusing one — whether you’ve bought a home before or not. There’s a lot of prep work and moving parts, and most of the terminology is unfamiliar to the average consumer.
We take pride in providing you with excellent service and appreciate the opportunity to assist you with all your mortgage needs.
America One Mortgage Group - Corporate NMLS# 79460 California Bureau of Real Estate Licensed Broker# 01323980
