mortgage affordability: What Makes Up A PITI Mortgage Payment?
- 03/18/19 08:07 AM
Many mortgage payments are made up of four parts, called PITI. PITI is an acronym that stands for principal, interest, tax, and insurance. It's important to understand PITI because it is the real number you need to use in order to find out how much mortgage you can afford to pay each month. One of the biggest mistakes first-time homebuyers make is using only the principal plus interest figure to calculate how much they'll be paying every month for their mortgage. Then, when the lender comes back and denies them, the prospective buyer is confused. Knowing and understanding PITI will put you … (2 comments)
mortgage affordability: How Much Mortgage You Can Afford? Here's How To Calculate
- 02/17/17 07:22 AM
You're probably aware of the financial commitment that is involved when investing in a home, but what that amounts to is different for every person. From what you can afford to what a lender will allow, there are plenty of details involved in determining the right home for you. If you're not quite sure what the right price is, here's how to approach home ownership and determine your debt-to-income. Calculating Your Debt-To-Income Ratio You may not know what your DTI ratio is, but it has a lot to with how much home you can afford. In order to calculate this amount, add together … (4 comments)
mortgage affordability: The 2017 Mortgage Rate Outlook: Here’s What the Experts Are Saying
- 02/09/17 09:18 AM
The post-election period is often one of uncertainty. And the time since the 2016 election has been no different with regards to market force and the financial world. With a new administration taking office, there are many questions regarding how Donald Trump's presidency will impact the market and your mortgage. If you're wondering what the predictions are for the coming year, here are a few things the experts are considering. An Increase In Rates Due to an expected hike in rates by the Federal Reserve, it's unlikely that potential homebuyers will be able to get the low interest rates of previous years. … (1 comments)
mortgage affordability: Three Ways Your Credit Score Affects Your Mortgage
- 07/15/14 12:43 AM
If you're thinking of buying a home, you've probably been thinking a lot about your credit score as well. Credit scores control so much of what we do in the world of finance, but what does your credit score really have to do with your mortgage? Here are three ways that your credit score could impact your mortgage application.
Your Credit Score Affects Your Ability To Get A Mortgage The first thing your credit score tells a lender is whether they should lend to you. In some cases, if you have a very low credit score, you may not be … (3 comments)
mortgage affordability: Mortgage Budgeting 101: How to Determine What You Can and Can't Afford
- 07/07/14 11:54 PM
When taking on a new mortgage, it is important to know that you can afford to carry the debt load involved, as many people find themselves in financial trouble by spending more on real estate than they can comfortably maintain. Your mortgage budget can be calculated to determine just how much you should spend on your next mortgage.
Mortgage Rates And Today's Market Conditions Mortgage rates change every day, and in times of high volatility can even fluctuate more than once in a twenty-four hour period. The market reflects a number of economic variables, including relevant world news and events. … (0 comments)
NMLS ID: 247026
Colorado Mortgage License: 100019059
Benchmark Mortgage, Ark-La-Tex Financial Services, LLC NMLS ID 2143. Equal Housing Opportunity. This advertisement is for general information purposes only. Some products may not be available in all licensed locations. Information, rates, and pricing are subject to change without prior notice at the sole discretion of Ark-La-Tex Financial Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions may apply. Colorado Mortgage Company Registrant – Regulated by The Division of Real Estate #2143
;)
;)
;)
