High debt ratio: Even if you have a stellar credit score and lot’s of money in the bank, a high debt ratio is a problem when trying to get a mortgage. If your housing payments and your credit obligations are greater than 45% of your monthly income, it will be
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Credit Scores
Your credit score plays a large role in the type of financing you will be offered when looking to buy a home. Banks usually decide on the terms of a loan based on the credit score category that you fall in to. It is important to check
Continue reading3 Ways To Spend Less and Cut Down On Clutter
Use the time rule: Instead of throwing something into your online shopping cart and purchasing it right away, leave it in the cart for an hour, a day, or even a week to give yourself time to figure out if you really need/want that item. Use a shopping list: Always head to the store
Continue readingShould You Refinance?
Freedigitalphotos.net Benefits of refinancing Paying off your mortgage early: For example, if you go from a 30 year loan to a 15 year loan without a big increase in your monthly payment, you could save thousands of dollars in interest while quickly increasing the equity in your home. Increase cash flow: Obtaining
Continue readingFinancial Advantages Of Owning A Home
Redfin Freedigitalphotos.net No inflation: If you rent an apartment for $1,800 a month and the inflation rate is about 3%, your monthly rent will increase to over $2,000 a month in just 5 years and you will have paid about $115,000 of your landlord’s mortgage in that time. When you own
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