Rise Mortgage and Real Estate
Why a Pre-Approval Carries More Weight than a "Pre-qual"

Why a Pre-Approval Carries More Weight than a "Pre-qual"

Tuesday, August 14, 2018

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Rocky Sanchez

RECENT Posts

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    Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income. This number is one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed. To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out.  For
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    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,