Your DTI ratio compares your monthly debts from bills against your gross monthly income to see how your money is balanced. Your debt-to-income ratio (DTI) is very important when applying for a mortgage, but the numbers are not set in stone. For the best overview of your debt-to-income ratio and your mortgage application, speak with a lending professional today! What is a Debt-to-Income...
Buyers often don’t realize that the final walk-through before closing is a vitally important part of the homebuying process. They should be reminded that this final walk-through can determine if and when they will close on their new home. The ideal time to do the final walk-through is right before heading over to the closing. If there is a large measure of time before that, the status of the house...
If you follow the financial news, you know that the Fed recently had one of their scheduled meetings to discuss and comment on policy. First, who is the Fed? The Federal Reserve Board (the Fed) is the central banking system of the U.S. The Fed supports the U.S. economy with monetary policy. The Fed indicated it could start raising rates in 2022. These are charges for overnight loans from bank to...
When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer. Know Your Numbers Having a...
In many areas, homes that have been recently updated or renovated are flying off the market, often at a profit for the sellers. But what about a fixer-upper that the seller wants to list “as-is”? There are pros and cons to this approach. Sellers save the money they would spend on major repairs or upgrades, and the home could sell fast, since “as-is” properties typically attract flippers,...
If your goal is to boost the selling price of your home, these home improvement project won't move the needle. Here are the projects to skip. By Terri Williams August 13, 2021 Unless your home is brand new—and you had it built to specs—you can probably think of several ways you'd like to upgrade it. Renovation projects can make your home more functional, comfortable, and attractive. And all of...
Are you thinking about selling your home? Supply is low and demand is high right now, which means many sellers are seeing quick turnarounds and healthy profits. Still, despite the hot market, selling a home isn’t easy. If you want the experience to be as smooth as possible, prepping early and enlisting help...
BY STEPHEN HAMWAY / JOURNAL STAFF WRITER Tuesday, August 10th, 2021 at 5:37pm ALBUQUERQUE, N.M. — Albuquerque’s median home price in July dropped very slightly from June’s record-setting total, but the broader trend of rapid home price growth is still going strong, particularly at the top of the market. "We are still seeing a lot of buyers and not enough houses on the market,” said Belinda...