How Much Down Payment Do I Need and How Do I Get It?

With housing prices having crashed in most of the higher cost areas of the country, ... score debt to income ratio and loan to value ratio. I do have a source for loans with only 5% down purchase money loans that seems increasingly solid - but it's only one. One program from one lender [more...]

Date: 2008-11-04 14:41:53

Blog posts (17) | Videos (12)
 

Nevada Mortgage - How Much Can I Borrow?

This is typically the first question our Las Vegas Mortgage clients ask when applying for a new home loan ... , type of credit borrowed, and recent inquiries. Debt-to-Income Ratio The (DTI) is calculated ... The DTI would be 42%. Most mortgage guidelines require a 45% or lower Debt-to-Income ratio. Loan [more...]

Date: 2008-12-31 21:02:55

Borrowers Beware: Stricter Loan Requirements in 2009

Ah, credit. The nation’s widespread adoption of it has allowed several generations of Americans to spend beyond their means, ... pay more for it. You’ll also need to keep an eye on your overall debt ratio if you’re in the market ... debt ratio at or below 45 percent of their pre-tax income. If you plan to apply for an FHA loan [more...]

Date: 2009-01-13 13:27:55

Mortgage Rates - Mortgage Home Calculator

It’s really a jungle of information out there. For beginners or first-time home buyers, home mortgage loan should work just any other loans, ... on your debt-to-income ratio. If you make barely enough to cover for your debts, you’ll have to pay a higher home mortgage rate. Compare this to someone who takes home a monthly income that far surpasses [more...]

Date: 2008-10-29 19:52:45

Paying for undergrad.

I'm looking at attending Boyce college (SBTS) and then going on to a Reformed seminary for a M.Div ... your student loans. This corresponds to a debt-to-income ratio of 0.7. If you use 15% of your gross monthly ... some financial difficulty.This corresponds to a debt-to-income ratio of 1.1. [more...]

Date: 2008-10-14 19:05:40

Loan Modifications Principal Reductions

How to calculate debt to income ratios or DTIRs for a loan mod I made this video to show you how to calculate DTIRs, which are the most important thing lenders pay attention to in determining [more...]

Date: 2009-01-07 13:27:51

How Do I Get Personal Loan With Fair Credit Score But Debt To Income Ratio Is High. I Had Been Declined?

I just got a new job as a nurse, my college loan, car loan, co-signer daughter car loan, mortgage payment, owned a house but no more equity left. my credit score is fair, no late payment. I need immediate financial need to keep me going for the next 6 month. Where can I get quick loan ? [more...]

Date: 2009-09-27 10:51:16

Rule of Thumb For Reasonable Housing Costs?

In an earlier post on motivating myself to work harder, I had thrown out a piece of “common” financial advice: ... from a mortgage calculator. The “other debt” is the sum of your other recurring monthly liabilities - car loans, credit card balances, student loan payments. There are usually two lender ratios [more...]

Date: 2008-09-10 13:58:59

Mr Mortgage Loan Mod Survey - I Would Appreciate Your Assistance

I need a favor from all of my mortgage broker and home owner friends out there ... done the right way.  I have swung completely over to this side of the fence as regulators, law makers ... is fully re-underwritten using present income and debt levels, prudent 28/36 debt-to-income ratios [more...]

Date: 2009-01-03 16:03:10

All Time Low Mortgage Rates For A++ Borrowers Only

As discussed on December 31, 2008 many homeowners attempting to lower their mortgage rate apply for a refinance, ... income (debt ratio of 32% or less) and substantial equity in the home (loan to value of 75% or less ... and won’t get approved. Only about a third of U.S. mortgage debt outstanding is likely to qualify [more...]

Date: 2009-01-15 08:09:46

Why overhead ratios are meaningless for Kiva and Acumen Fund

Editor’s note: This post first appeared on Sasha’s personal blog ... , where I work - we raise philanthropic donations and then make debt and equity investments ... invested capital (loans and equity), unlike grants, don’t factor into ratio of “overhead costs [more...]

Date: 2009-01-13 12:00:59

What are Home Loan Jobs

by Ethan Hunter Most people sitting in a loan companies office isn’t thinking about working there - but there are some people, perhaps you yourself, ... to debt ratio, you find a serious challenge. Having ... with a calculator? Was math an easy subject in school for you, and did you breeze through it while others [more...]

Date: 2008-07-08 11:30:10

Recent Bankruptcy? It’s Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October 17, 2005, more Americans than ever are filing for relief using the federal bankruptcy laws ... discharge. Ironically, some those that would not previously qualify for a mortgage do qualify after ... payments. The DTI* (debt-to-income) ratio of this person is 81.25%. Since his credit score is low [more...]

Date: 2009-01-15 00:11:26

The Debt-to-Income Ratio: How Much House Can You Afford?

Housing is the largest expense in the budget of most families. But how much is too much to spend on shelter? ... of her grandfather’s home. The loan that made up the difference, with closing costs, broker’s fee, taxes ... my compassion. Ms. Natale (who has three children) took out a housing loan that left her just $100 [more...]

Date: 2008-11-11 13:00:08

Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus

Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... 660 with a debt-to-income ratio (excluding mortgage) below 25%. In addition, your credit history ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans [more...]

Date: 2008-12-14 14:30:58

How To Effectively Shop for A Real Estate Mortgage Loan

This is a little harder than shopping for buyer's agents, so congress critters might not be able to do it ... a debt to income ratio and subtract from that your current monthly obligations, to arrive [more...]

Date: 2008-10-03 13:53:54

What The Heck Is ‘DCR’ And Why Should Real Estate Investors Care?

I get this question from time to time, as DCR isn’t as commonly known as some real estate investors might think. It stands for Debt Coverage Ratio ... loan amount. On your handy dandy loan calculator, mine is and will forever more be an HP 12C ... . It’s ratio of Net Operating Income to total annual Debt Service (a year’s loan payments [more...]

Date: 2009-01-11 00:32:23

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