Minimum Payment and how it affects your mortgage payment Everyone knows that good credit translates into the best interest rates on loans and financing. That’s why it’s smart to do what you can to increase your credit rating — to 730 or higher, if possible — before buying a new home. You’ll end up with…
Ideal Debt-to-Income Ratio And why it’s important to manage Debt-to-income ratio refers to a formula that compares the amount of money you owe to the amount of money you earn. It’s an important formula in the grand scheme of your financial health, yet few people can even recite their figures. But before tackling what it’s…
Want to save money and time? Shop for your mortgage! Habits die hard. Perceptions die even harder. If you have it in your head that only banks (and maybe credit unions) issue mortgages, then you’re painting yourself into a corner that may end up costing you precious time and money. These days, you have a…