Homeownership is not just for the ultra wealthy. While income is an important factor when buying a house, knowing exactly how much you need to earn is not as simple. Most people who buy a home use a mortgage loan to finance the majority of the purchase price. Lenders consider an applicant’s debt-to-income (DTI) ratio…

If your credit, debt, or income is keeping you from buying a house, you may be tempted to have another person in a more stable financial position help with your loan application. A non-occupant co-client signing your mortgage along with you may be an option your lender offers, but there are a few things you…

Finding a great deal on your home purchase requires that you understand the different types of home loans available. Here are popular mortgage products and who can use them. Conventional Loan: This is most popular type of loan and the one that most people think of when beginning their home search. To get a conventional…

When you are ready to make a new home purchase, the first thing to consider is who you want on your team. A Realtor or real estate agent can be your advocate throughout the process. While it is not required to have a Realtor or real estate agent when buying a home, working with this…

One of the first hurdles that potential homeowners must overcome is saving up a down payment. It can take years, depending on the home prices in your area and how much you want to put down. Down payments are usually described as a percentage of the purchase price. How much is required for a down…