When you're delving into the market in the hopes of finding your dream home, it's likely you'll come across the term debt-to-income ratio. This may not seem important at first, but your DTI is the key to determining the amount of money you can put into your home and just how much you should spend on a monthly basis. If you're curious about what this means for you, here's how to calculate it and how it can impact your mortgage. What's Your DTI Ratio? One of the best ways to determine whether or not a home is affordable for you is to first calculate your DTI ratio. To get this amount, add up all … [Read More...]
Many millennials are expected to enter the housing market in the next year with the interest rates still low. However, while it may be a good time, it does not necessarily mean that it's the right time for you to make the investment. If you're currently weighing your options when it comes to home ownership, here are some things to consider before you decide put the money down.
Are You Struggling With Student Debt?
It's possible to invest in a home when you're still paying down student debt, but if you're also struggling with a low-paying job and a high debt load, it may not be the right time … [Read More...]
According to the National Association of Home Builders Housing Market Index for April, Builder Confidence dropped three points to an index reading of 68 in April. While any reading over 50 indicates positive builder confidence, home builders said that they continue to face obstacles including higher costs for materials and elevated costs associated with regulatory issues. Builders have repeatedly cited concerns including a lack of buildable lots and labor shortages in past months. Home Builder Component Readings Fall But Remain in Positive Territory Component readings of the Housing Market … [Read More...]
There are so many ways in which you can green up your home and make it more sustainable these days that many people are considering tankless water heaters. While this can certainly be the right option depending on the space you have and the type of water you use, here are some things to consider before you decide to invest in the switch. Maximizing Your Space One of the biggest issues with a traditional water heater is the amount of space it takes up, whether it's a side closet or a closed-off area in the basement. Fortunately, one of the benefits of tankless water heaters is that they can be … [Read More...]
Last week's economic releases included readings on inflation, core inflation, new jobless claims, and mortgage rates. Consumer sentiment for April was also released. Inflation Rate Dips in April Consumer Price Index readings for April indicated that inflation decreased from 0.10 percent growth in March to a negative reading of -0.30 percent reading in April. The Core Consumer Price Index, which does not include volatile food and energy readings, also dipped in April to -0.10 percent from the March reading of +0.20 percent. While negative readings for month=to-month inflation suggests sluggish … [Read More...]
Most home sellers are thrilled to get the asking price they're looking for when putting their home up for sale, but many have not thought about the possibility of getting even more! If you're wondering what tricks of the trade your agent can use when it comes to getting a higher offer, you may want to have them test out some of the following tips. Price It A Little Lower It's generally said that you should price your home at market value so it will not linger on the market, but by having your real estate agent price it slightly lower you may be able to get a lot more people through the door. … [Read More...]
