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!