Blog Category: getting pre-approved

April 16th, 2012 confused 5201278 1920
April 16th, 2012

Extra! Extra! Lenders Do Not Know How To Pre-Qualify Homebuyers!

It has been a while since I wrote about pre-qualification. It seems I need to write about this more often. Lenders hand out pre-qualifications like candy, with little analysis, little required documentation, and then homebuyers go out into the marketplace making representations they cannot meet. And then they lose money. How? Read on. Read More

Categories & Tags Underwriting Rules, , ,

November 28th, 2017 pie chart
November 28th, 2017

What Portion of My Income Should I Spend on a Mortgage?

What portion of my income should I spend on a mortgage? Deciding on how much mortgage you can afford is very complicated with several things to consider. Before you plan to spend the maximum amount you’ve been approved for, consider what you feel comfortable with. And don’t treat your home purchase like a zero-sum game. Consider spending a sufficient amount to buy enough house to keep you happy for a longer period of time. This is due to the hefty transaction costs of real estate. Read More

Categories & Tags credit, housing values, mortgage, , , , , ,