How Much Home Can I Afford? Calculating Debt to Income Ratios

Saturday, May 24th, 2008

When calculating how much home you can afford to buy, lenders use debt to income ratios (DTI) to determine how much you can safely borrow. There are two ratios used; front and back end ratios. The front end ratio is a measurement of just the total monthly house obligations. ...

Another Sign Lenders are Tightening Standards

Tuesday, May 6th, 2008

Government sponsored provider of home loans, Fannie Mae, has just tightened the standards for home mortgages it guarantees or buys.    Fannie Mae has informed lenders that it will require a minimum credit score of 580 for most loans it buys on an individual basis.  Previously Fannie Mae had no minimum score.   Credit ...

Blacklisting Hits Homesellers

Friday, May 2nd, 2008

In the nation's worst-hit real-estate markets, home sellers are suffering a new blow: They are being blacklisted by lenders. As property values decline and credit markets contract, home lenders nationwide are growing ever more unwilling to finance home purchases in sharply declining housing markets, driving prices down ...

Alternative Mortgage Financing

Friday, May 2nd, 2008

How many of you out there have sold your home about 2 or 3 years ago for huge profits waiting to buy in again as the market corrects?  If this is you, read on as this can be some helpful information that may save you money or even set a ...