Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
The idea of paying off your student loans and buying a home at the same time can seem like an impossible feat given the impact on your Debt-to-Income (DTI) ratio. However, there are ways it’s possible to have enough funds and good enough credit to make your dream of home ownership come true a little more quickly.
When it comes to investing in a mortgage, the down payment is key in making your investment a reality and proving to lenders that you’re a safe bet. However, while most opportunities for putting zero down on a home have disappeared since the recession, there are still a few ways to buy without putting money down. If you’re currently weighing your options, here’s what you need to know if you don’t have a down payment ready.
Autumn is a popular time for new home buyers to start looking for their first house or condo. But with that down payment looming, everybody could use a bit of help saving up to make that bulk payment a little less intimidating.
If you’ve been perusing the real estate market with the hope of purchasing a home, you may be aware that the often-touted amount you should put down is 20 percent. However, there are both good and bad things involved in investing so much money into your new home.
If you’re just getting into the real estate market, you may have heard that 20% down is the ideal percentage in order to lower your monthly payments and get your mortgage application approved. However, while 20% is often suggested, many people struggle to come up with this amount of money.
Purchasing a home can be one of the most exciting and stabilizing investments of your life, but because of the expense, there are many ways you may be spending more money than you should. If you’re wondering about the financial soundness of your home investment, here are some things to consider before putting anything down.
‘Conforming loan limit’ may be a less familiar real estate term than the rest, but here are some things you’ll need to know about it and what it could mean for your biggest investment.
If you’re in the market for a house and are wondering how your income will stack up against the rest of your expenses, here’s how to determine a home cost that’s reasonable for you.
Traditionally, getting a mortgage requires you to have a level of income appropriate to the size of home that you’re buying. But for a lot of low-income and minority borrowers, a simple measure of one person’s income isn’t an accurate measure of whether or not that person can afford a home.
When delving into the realities of home ownership, there can be many factors involved that make it difficult to determine what you need to know and what can wait until later. If you happen to be a first-time buyer who’s looking for the best tips for purchasing a home, look no further than the following three pointers to set you on the right path.