Creating an energy efficient home can be beneficial for a number of reasons. As most people spend the majority of their time indoors, comfort is crucial. By implementing energy efficient measures, you can improve indoor comfort by better controlling air, heat, and moisture throughout the home. Energy efficient buildings also use less energy and cost […]
Percentage of Income That Should Go Towards Your Mortgage
As a general rule of thumb, your monthly housing payment should not exceed 28 percent of your income before taxes. When determining what percentage of income should go to mortgage, a mortgage broker will typically follow the 28/36 Rule. The Rule states that a household should not spend more than 28 percent of its gross […]
How to Get Pre-Approved for a Mortgage
Buying a home is a major commitment. To ensure that you are a responsible applicant, most mortgage lenders suggest getting a pre-approval before starting the home hunting process. Before pre-approval can be granted, lenders will look at your financial history, including your credit score and amount of debt you owe. They will also look at […]
How Do I Get a Mortgage with Bad Credit?
If you have bad credit, you may fear rejection when applying for a mortgage. While certain types of home loans require a minimum credit score, there are lenders who will work with applicants with less-than-stellar credit. Want to know how to get a mortgage with bad credit? Start by learning what each credit level means […]