One of the most common beliefs in home buying is that you can’t purchase a home unless you’ve saved up a full 20% down payment. While putting 20% down can lower your monthly payment and help you avoid certain costs, it’s far from a requirement. In fact, most buyers today purchase their homes with much…
If you’re planning to buy a home, one of the first things a lender will look at is how much of your income is already committed to debt. This is called your debt-to-income ratio, or DTI, and it plays a major role in determining the type and size of mortgage you can qualify for. Your…
Thinking about buying a home but worried your student loans will hold you back? You’re not alone. Many people carry student debt and still buy homes every day. The good news is, having student loans doesn’t automatically stop you from qualifying for a mortgage. What matters is how those loans fit into your bigger financial…
Hi there, and welcome! I’m glad you’ve found your way to The Mortgage Minute—your new go-to spot for simple, straightforward insights into all things mortgage. Whether you’re a first-time homebuyer, planning to refinance, or exploring reverse mortgage options, this blog is here to help make sense of it all. My name is Kris Brewer, and…
