Being unprepared and not having your finances in order will make it even more stressful. Here are a few quick ways if you’re looking to speed up your mortgage approval process, here’s a checklist to help you prepare.
How Do Mortgage Lenders Decide How Much You Can Borrow?
When it comes to buying a home, one of the most critical factors to consider is how much you can borrow through a mortgage.
How Long Does It Take to Get a Mortgage Approval?
When you’re in the process of buying a home, one of the most important steps is obtaining a mortgage approval. This approval signifies that a lender is willing to offer you a loan to finance your dream home. The timeline for getting a mortgage approval can vary depending on several factors.
Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage
For those who are looking to buy a home soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. A low DTI may make it easier for the lender and the underwriter to justify making a loan to the borrower.
