When applying for a home loan, you will hear the term “debt-to-income ratio” and why you need to know yours. Debt-to-income ratio is the total amount of money you owe per month to the total you earn, shown as a percentage, and is essential to understanding your financial health.
One of the most important factors a lender will consider when reviewing your application for a Kansas City home loan is your FICO ,or credit, score. The two largest influences on your credit score are how you pay your debts and how much debt you owe. How Are FICO Scores Broken Down? Each credit bureau […]
Rejection is tough, especially when it comes to the dream of owning a new home. However, one KC home loan application rejection does not mean you are out of options. Many people get rejected for reasons that can be fixed with some effort. There are several steps you can still take to improve your chances […]
Even after you’ve been pre-approved for a Kansas City home loan, you are not guaranteed a loan for the property you settle on afterward. The full home loan process requires an in-depth assessment of both the property’s credentials and your qualifications. This assessment is usually carried out by the lender or lending company’s underwriter, who […]