Despite the improved outlook for mortgage rates, a near record-low level of respondents believe it is a good time to buy a home, according to the Fannie Mae Home Purchase Sentiment Index. Buoyed by the belief that mortgage rates will decline over the next 12 months, housing confidence inched higher in September. The Fannie Mae…

Understanding your debt-to-income (DTI) ratio is essential for managing your finances and improving your financial health. This figure helps lenders assess how well you manage monthly debts and if you can take on additional financial commitments. Here’s a comprehensive guide on how to calculate your DTI ratio. What is Debt to Income Ratio? Your debt-to-income…

For many property investors and homeowners alike, the question of whether rental income can be used to offset debt, particularly with a conventional purchase, is a significant one. Understanding the rules and guidelines can help you make informed decisions and potentially benefit financially. What is Conventional Loan? A conventional Loan, is a government-sponsored enterprise that…

Lender suggests many working for themselves fear they won’t be approved Brokers need to challenge a ‘deep-seated belief’ among those who are self-employed that they are unable to secure a mortgage, specialist The Mortgage Lender has urged. Self-employment in the UK has fallen since the pandemic, according to the Office for National Statistics, though around…

Analysts explain how the proposed subsidy could further complicate the current housing crisis A recent study from the American Enterprise Institute (AEI) has revealed that Democratic presidential candidate Kamala Harris’s proposed $25,000 down payment subsidy for first-time homebuyers could unintentionally raise home prices by 4%, undermining its purpose of easing housing affordability. The plan, introduced…

Backed research says “yes” Consumers can save thousands of dollars by working with independent mortgage brokers instead of retail lenders, according to a new study. It found that consumers who work with independent mortgage brokers save an average of $10,662 over the life of their loan compared to those who use nonbank retail lenders. The…

Mortgage pros on the steps needed to continue gaining traction Amid early signs that the US mortgage market is poised for a recovery in 2025, a key question looking ahead will be whether brokers can prise business away from the banking and retail spaces. Competition for deals is sure to be fierce, with a potential…

The Federal Housing Administration’s (FHA) 203h Disaster Program is a specialized loan program designed to help individuals rebuild or buy new homes following a major disaster. Administered by the U.S. Department of Housing and Urban Development (HUD), this program offers a lifeline to those whose homes have been destroyed or severely damaged due to natural…

Understanding the Importance of a Credit Consultation Having good credit is essential for many of life’s significant financial decisions. From buying a home to securing a loan, a solid credit score can open many doors. But what if your credit score isn’t where it needs to be? This is where a credit consultation can be…

Mortgage pre-approval is an important step for anyone looking to purchase a home. It not only gives you a clear picture of what you can afford but also strengthens your position as a serious buyer in the eyes of sellers. In this article, we’ll dive into what mortgage pre-approval is, why it’s important, and how…