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Debt-to-Income Ratio Explained: How It Affects Your Mortgage!

Your #debt-to-income (DTI) ratio is a key factor in determining if you’ll be approved for a mortgage or not. It’s important to understand this ratio to get the best rate and terms possible when buying a home. Here’s what you need to know about the debt-to-income ratio and how it affects your mortgage approval.#mortgage #DTI #homeshopping

Shave years, create wealth the untapped potential of refinancing!

Refinances still make up almost one third of all mortgage transactions, even though rates have risen. You may be wondering how this can be?Many homeowners are benefiting from a type of refinance where we pull that equity out of the home to pay off those debts, saving money on the overall monthly payments. Additionally, there are ways to gain equity at an accelerated pace and significantly shorten the length of your mortgage, by applying those savings as an additional payment each month.

Weekly Mortgage and Financial Market newsletter 4-22-2024

Week of April 15, 2024 in ReviewDespite a pullback in sales and construction, the housing sector is showing signs of strength heading into the spring buying season. Plus, Fed Chair Jerome Powell gave some hints about what may be ahead for rate cuts. Read on for these stories and more:  ▪        Existing Home Sales Slip▪        Home Builder Sentiment Holds Steady▪        Housing Starts Slide in March▪        Rates Higher for Longer▪        Continuing Unemployment Claims Remain Above 1.8 Million

Mortgage Rate Quick Connect Tool

National Rate Averages-Optimal Blue-This is a quick glance snapshot of where rate averages are on any given day based on what Lenders are offering in the market.Freddie Mac's PMMS®-Primary Mortgage Market Survey- is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Rates are based on the previous weeks national survey. 

2-1 Buydown Informational Flyer for buyers

In today's environment with higher mortgage rates, achieving the dream of homeownership may seem more costly. However, we at Highlands are here to support you!

Reviews

"Review for Ric Harter, Mortgage Lender As a realtor, I’ve had the opportunity to work with many mortgage lenders, but Ric Harter truly stands out. He recently helped one of my clients secure financing, and I couldn’t be more impressed with his professionalism and expertise. From the very beginning, Ric was attentive, communicative, and genuinely committed to finding the best solution for my client. He took the time to explain each step of the process in detail, ensuring my client felt confident and well-informed every step of the way. His responsiveness and attention to detail made the entire experience smooth and stress-free. What really sets Ric apart is his dedication and integrity. He goes above and beyond to make sure everything is handled efficiently and always has his client’s best interests at heart. I’m grateful to have partnered with him and look forward to many more successful transactions together. If you’re looking for a knowledgeable and trustworthy mortgage lender, I highly recommend Ric Harter."

matt m

"From start to finish, Ric demonstrated exceptional communication, professionalism, and a genuine commitment to making the home financing process as smooth as possible. My client are I are very pleased with Ric!"

amarpreet u

"Josh and Rosalie are so happy with your great service!"

jeremy m

"Great communication from Ric and the entire team. Will definitely use Highlands again if I have a need."

melissa ann a

"Ric was very attentive throughout our process and is a frequent & clear communicator. We appreciate his help and support!"

michael m

"Warm, responsive, knowledgeable, reliable, and smart"

joel robert p

"Ric is so knowledgable and helpful. He really went to bat for my clients in a tough situation!"

susan d

"Plenty of communication."

kallista fugitt v

"Ric is always an excellent advisor, giving clients truthful and timely advice with their best interest in mind. Transactions are always well ahead of schedule due to his proactive and thorough approach. I highly recommend Ric!"

sarah s