Rise Mortgage and Real Estate
What is Debt to Income Ratio?

What is Debt to Income Ratio?

Tuesday, September 04, 2018

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Rocky Sanchez

RECENT Posts

  1. Why a Pre-Approval Carries More Weight than a "Pre-qual"
    14 Aug, 2018
    Why a Pre-Approval Carries More Weight than a "Pre-qual"
    The terms pre-qualification and pre-approval are often conflated and may confuse homebuyers, but there is a world of difference between the two. A prequalification is a preliminary step to get a better understanding of the potential borrower's financial situation and goals. It includes an analysis of their debt, income, and assets and is usually done through the phone or a quick meeting, thus the borrower's credit is not pulled and documents are not needed to verify the amounts. A preapproval
  2. 15 Year Mortgage vs 30 Year Mortgage
    12 Aug, 2015
    15 Year Mortgage vs 30 Year Mortgage
    A bewildering variety of mortgages may be available, but for most homebuyers, there is, in practice, only one. The 30-year fixed-rate mortgage is practically an American archetype, the apple pie of financial instruments. It is the path that generations of Americans have taken to first-time home ownership. According to the Mortgage Bankers Association, the majority of people who apply for mortgages apply for the 30-year variety: In February 2015, more than two-thirds of all mortgage applications,