When applying for a home loan, you will hear the term “debt-to-income ratio” and why you need to know yours. Debt-to-income ratio is the total amount of money you owe per month to the total you earn, shown as a percentage, and is essential to understanding your financial health.
Owning a home is a huge financial responsibility. If you are not prepared for it, you could face financial hardships, fall behind on your monthly mortgage payments, and even foreclose on your home. Here is what you can do to help you prepare a homeownership budget.
The prospect of buying a new house, be it your first or second, is exciting and it is easy to get lost in the moment. But take a step back, look at the situation critically and ask yourself: How much house can I afford? Determining your budget before you go house shopping will help you […]
Shopping for a new home is an exciting time and you may have built up this image in your mind of what it should be. While having what you want in mind is perfectly normal and expected, you must recognize that you must manage your expectations when looking for a home. Doing so will help […]
When thinking about buying a home or even just budgeting for the future, knowing what your EBITDA and NI is crucial. These numbers will help you budget and determine how much home you can afford. What is EBITDA? EBITDA stands for earnings before interest, taxes, depreciation and amortization. It’s generally used as a way to […]
A home is typically one of the largest purchases a person will make in their lifetime. For many people, house hunting is their favorite part of buying a home—they love looking at homes and imagining the possibilities. But since house hunting can be time consuming, it’s important to start saving time before you even step […]
It’s important to prepare yourself for a complete financial overview when applying for KC home loans. Getting your financial house in order is a key part in preparing to get KC home loans. The best way to do this is to put together a homeownership budget. Creating a Homeownership Budget A homeownership budget is a […]