Debt to Income Mortgage Qualifications

Debit to income Mortgage qualifications

What is Debt-to-Income Ratio? If you decided to buy one of the Florida homes for sale you’ll need to know your debt-to-income ratio (DTI). Simply put, it is the calculation of how much of your monthly income goes to debt payments. Mortgage lenders look at the debt to income ratio to see how much they…

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Calculating You Monthly Payments

Monthly Loan Payments

Calculating your monthly payments Even when you find the perfect home builder, One of the most important factors to consider when building a new home is affordability.  As a general rule, mortgage payments should not exceed 30-40 percent of your monthly take-home pay.  When calculating affordability for FHA loans you can use 45% of your…

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Understanding Mortgage Rates For New Construction

Mortgage rates

Mortgage Rates; How & why do they change. Mortgage rates are mostly defined by the secondary market, where they are bought and sold. The two government agencies whose job is to keep the secondary market stable are Fannie Mae and Freddie Mac.   These two government agencies not only help to establish the current mortgage rates…

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