What is debt to income ratio Your debt-to-income ratio (DTI) measures how much you pay to service your debts relative to your income. To lenders, it is an important indicator for whether you are a good prospect for a loan and a critical component of your PRO Index. To you, it can be a measure of financial health by showing how much of your monthly income is going to servicing your debts, which is...
There are thousands of home loan programs option to choose from but just for your convenience we will tell you about the best one's so that you don't need to struggle more. Conventional Loan A conventional mortgage or conventional loan is any type of home buyer’s loan that is not offered or secured by a government entity. Instead, conventional mortgages are available through private lenders, such...
Every homeowner wants their home to sell quickly for a large profit, but it takes more than luck to make this happen. It involves careful planning and knowing how to professionally prepare your house so that it appeals to buyers and results in multiple offers. Pick an ideal listing date: Nationally, the best time of year to list your home to maximize profit and minimize time on market is the...
A home inspection observes and reports on the condition of a real estate property, usually when it is on the market to be sold. A qualified home inspector assesses the condition of a property, including its heating and cooling systems, plumbing, electrical work, water, and sewage, as well as some fire and safety issues. In addition, the home inspector will look for evidence of insect, water, or fire...
A short sale is the sale of a real estate property for which the lender is willing to accept less than the amount still owed on the mortgage. For a sale to be considered a short sale, these two things must be true: The homeowner must be so far behind on payments that they can’t catch up. The housing market must have gone down so much that the house is worth less than the remaining balance on...
There are an endless variety of ways to invest in real estate, from taking out a home mortgage to building a property empire that spans the country. While the latter is probably out of reach for most of us, there’s no shortage of other options. What’s more, not all of them need to involve the headaches of financing and maintaining rental properties. Here are five strategies for adding real estate...
One of the biggest shocks of buying a home is finding out that you need way more cash to close on a house than just a down payment. It’s hard enough to save for the down payment on your home, only to find out that you need more – often a lot more – in order to complete the transaction. What can you afford? Begin your budget by figuring out how much you (and your partner or co-buyer, if...
Photograph the Front: Most homebuyers begin a home search online so posting good photos is essential. Listings without photos or with only an exterior shot are often ignored. But that doesn't mean an exterior shot from the front isn't very important. Your house photo will look 10 times better than your competition if you crop out sidewalks and streets. Remove vehicles from your driveway and...
The Pricing Dilemma: Although pricing too high can be a mistake, don't worry about pricing your home too low. Properties priced below market value will often receive multiple offers that will then drive the price up to market.2 Pricing is all about supply and demand. The CMA: Pull Comparable Listings: First, look at every similar home that's been listed in the same neighborhood as your...
Most of us are ready to put 2020 behind us and to look ahead to 2021. While the crystal ball is cloudy, there are some glimmers of hope that offer optimism for the year to come. Economic conditions in Virginia will continue to improve, and housing market fundamentals will remain strong. The biggest risks relate to the ability to bring COVID-19 under control so that the economy—and life—can return to...