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Monthly Archives: December 2020

    Debt-to-Income Ratio Affects Approval & the Interest Rate

    By Carla Higgins | December 29, 2020

    Debt-to-Income ratio is a tool that lenders use to qualify buyers for a mortgage and is an important factor in determining loan approval. It provides an indication of the amount of debt that a potential borrower is obligated to in relation to how much income they have. Total monthly debts are determined by adding the … Continue reading Debt-to-Income Ratio Affects Approval & the Interest Rate → Read More

    Where Did the Assumptions Go?

    By Carla Higgins | December 15, 2020

    Mortgage assumptions have not been a practical matter for the last 30 years because mortgage rates have been on a steady decline. Even if the seller had a rate lower than the current rate, the new purchaser must qualify to assume the loan. In the case of conventional loans, the lender has the right to … Continue reading Where Did the Assumptions Go? → Read More

    Vacation Home Sales Up 44%

    By Carla Higgins | December 8, 2020

    Vacation home sales are up 44% year-over-year according to the National Association of REALTORS® based on sales during the July to September period. Not only are the number of units up, but they are also selling faster than in previous years. On a national basis, 72% of existing vacation homes closed in October were on … Continue reading Vacation Home Sales Up 44% → Read More

    Home Inspections

    By Carla Higgins | December 1, 2020

    A home inspector is another key professional involved in a real estate transaction. Many times, the sales contract will have a provision that allows the purchaser to have inspections made to discover issues that are not readily apparent or have not been disclosed by the seller. It is important to have a qualified individual perform … Continue reading Home Inspections → Read More

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