real estate: The ABC's of DTI's (Debt-to-Income Ratios)
- 07/25/14 04:24 AM
Gene Mundt does a great job here explaining the mechanics of the debt-to-income (DTI) ratio calculation. This number has become more important than it has been in the past because the lenders are very concerned with your ability to repay. Gone are the days of getting approved simply because of substantial equity in the property and good credit score! Related Post - 4 Ways You Ain't Looking So Pretty As You Might Think For Your Lender The ABC's of DTI's (Debt-to-Income Ratios)
Definition of Debt-to-Income Ratio: The figure that represents how much of your income is spent … (0 comments)
real estate: Share And Follow Up - A Simple Way To Get First Time Buyer Leads
- 12/13/13 10:12 AM
I want to earn the business of real estate agents. In order to earn your business, I have figured out a simple way to help you grow your business. All you have to do is share and follow up. The content I have for you to share is a recorded first-time homebuyer financing webinar. This seminar that I have completed and recorded covers the following: What is the minimum down payment? How much can I qualify for? What are the closing costs? Documention requirements Let's face it, trying to do a live seminar with a large group of people assembled in … (0 comments)
real estate: A completely new proposal to save the San Mateo County real estate market. It's not as crazy as you might think!
- 10/23/09 06:36 AM
Richard Weisser wrote this interesting article about a new idea on how to fix the real estate market. I wrote an article in November, 2007, that had similar ideas. I don't necessarily agree with incentive tax policy, but I do think making the down payment tax deductible serves two purposes. First, it will result in larger down payments. Larger down payments means lower payments and more equity, which will reduce foreclosures. Second, a down payment tax deduction will stimulate sales. More sales means more money circulation throughout the economy. What effect do you think this proposal would have on San Mateo … (6 comments)
Phil Caulfield is a Loan Officer with Prosperity Home Mortgage LLC. I have experience with many types of loans, such as conforming, jumbo, FHA, and VA. I have worked with all types of clients, ranging from first- time buyers to high net worth individuals.
As a mortgage banker, we are able to offer many different types of loan programs to meet the needs of a wide variety of clients.
For example, we offer programs with low down payment requirements, which can be attractive to first-time buyers.
We also can help clients who are having a difficult time qualifying with traditional income documentation by utilizing alternative documentation, such as bank statements, to qualify.
Interest-only loans have been attractive to high net worth clients. These type of mortgages give the borrower more flexibility in terms of allocating funds into financial vehicles they deem to be the most attractive.
The current mortgage landscape requires a tremendous amount of documentation and disclosure. My goal as a Loan Officer is to make the process as painless and as simple as possible. Having 30 years of experience has enabled me to anticipate the issues that may come up during the loan process. I work with my clients upfront to work through these issues so that the surprises during the processing of their mortgage are minimized.
I grew up, live, and work in Burlingame. Many of my clients, naturally, are from Burlingame and the surrounding cities such as Hillsborough, San Mateo, Foster City, and Millbrae. I am licensed in the state of California, so I can help people who want to buy or own property anywhere in the state.
Gene Mundt does a great job here explaining the mechanics of the debt-to-income (DTI) ratio calculation. This number has become more important than it has been in the past because the lenders are very concerned with your ability to repay. Gone are the days of getting approved simply because of substantial equity in the property and good credit score!
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