Finance Blogs

Everything You Need to Know About Debt-to-Income Ratios

When you’re buying a house, certain numbers – like your Debt-To-Income (DTI) ratio – are a big deal. But what is a Debt-To-Income (DTI) ratio, and why do lenders look at it when evaluating you for a mortgage? Let’s start by briefly talking about what DTI reflects. What is a Debt-to-Income Ratio? Your Debt-To-Income ratio…

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Pros and Cons of Renting Instead of Buying a Home

There are both pros and cons to renting instead of buying a house. While we generally recommend home ownership if the situation allows, we admit there are reasons to rent.  Here are the pros and cons of renting a home instead of buying one.  Pros of Renting Instead of Buying a House The first advantage…

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Should You Buy a House by Yourself or Have a Cosigner

You’re more likely to qualify for a mortgage if someone cosigns with you. But is that a good idea? Let’s look at this in a few different ways.  A Mortgage Cosigner Helps You Qualify When someone cosigns a mortgage with you, they’re saying they are willing to make the payments even if you can’t. It…

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Should You Get a 15-Year Mortgage?

Is it a good idea to get a 15-year mortgage instead of a 30 year? Maybe.  The reason we say that is every single client’s situation is different. For example, someone who is 15 years away from retirement has different things in mind than someone just starting their career. A person who is considering leaving…

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What are VA and IRRRL Loans for Veterans

Are you a military veteran? If so, we want to start off by saying thank you for your service. Thank you for also checking out this article, where we’ll go over the basics of VA and IRRRL loans.  What is a VA Loan for Military Veterans? A VA Loan is a type of mortgage you…

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Should You Get a Home Warranty?

Photo by Maksim Goncharenok from Pexels Is a home warranty worth the cost? Or is it better to put that money elsewhere? Here are a few things to think about.  What is a Home Warranty? As you probably already know, a home warranty is a way to protect yourself from major expenses. The idea is that by paying…

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Should You Buy a House in a Good School District?

Whether you have kids or not, the quality of the local school district is something you may want to think about as you consider a house. Here are a few reasons why.  Homes in a Good School District Cost More This correlation is very common. If you remember from economics class, the principles of supply…

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FHA Loan vs Conventional. Which One Should You Get?

Photo by Pixabay from Pexels Should you get an FHA loan or conventional loan? The short answer is it depends on your current situation. Here are a few factors that come into play with these two types of loans.  FHA Loan vs. Conventional: What’s Your Credit Score?  The first thing to consider as you weigh your two options…

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3 Ways to Save on Home Insurance

Photo by Any Lane from Pexels Wondering how to save money on home insurance? Here are a few of the best ways to save without spending tons of time or energy.  Save Money on Home Insurance by Shopping Around The first and most important step is to shop around. This is something we do every day, right? We…

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Ways to Avoid Private Mortgage Insurance (PMI)

Looking for a few ways to avoid paying Private Mortgage Insurance (PMI)? Fortunately, you have a few different options. Here are the most popular ones. How to Avoid PMI: Put 20% Down If a homeowner purchases a house with a low down payment, the bank is assuming additional risk by offering a mortgage. To help…

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