Kim Abbott

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Buying a Home? 4 Steps You Can Take to Ensure You Start out with a Low Monthly Mortgage Payment

October 14, 2020 by Kim Abbott

Are you thinking about buying a new house or condo? If so, you've likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home. Below we'll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment. Make A Large Down Payment On Your Home The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you'll be required to pay back. If you can put a sizeable amount down on your home you'll find that your monthly … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Mortgage Financing, Mortgage Loan Information, Mortgages

Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage

July 29, 2015 by Kim Abbott

If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. What is a Debt-to-Income Ratio? A debt-to-income ratio is the percentage of monthly debt payments compared to the amount of gross income that a person earns each month. Your gross monthly income is … [Read more...]

Filed Under: Mortagage Tips Tagged With: Debt-to-Income ratio, Mortgage Approval, Mortgage Loan Information

Buying a Home? 4 Steps You Can Take to Ensure You Start out with a Low Monthly Mortgage Payment

October 31, 2014 by Kim Abbott

Are you thinking about buying a new house or condo? If so, you've likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home. Below we'll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment. Make A Large Down Payment On Your Home The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you'll be required to pay back. If you can put a sizeable amount down on your home you'll find that your monthly … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Mortgage Financing, Mortgage Loan Information, Mortgages

Shopping Around: How to Compare Mortgages from Different Lenders or Underwriters

October 8, 2014 by Kim Abbott

Buying a home is a major financial transaction, especially if you're going to need mortgage financing to help cover the purchase cost. The only way to know if you're getting the best deal on a mortgage is to shop around, but with so many different lenders vying for your business it can be very tough to choose which mortgage is the best fit for your own situation. In this post we'll share how you can compare mortgages from different lenders or underwriters so that you can get the best possible deal on your mortgage loan. Start By Comparing Interest Rates The most important factor in your … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Mortgage Affordability, Mortgage Financing, Mortgage Loan Information

Setting Your Budget: How to Analyze Your Finances to Determine How Much Mortgage You Can Afford

October 3, 2014 by Kim Abbott

Whether you're buying a home for the first time or you've decided it's about time that you upgraded to a larger, more expansive house, if you're making a real estate purchase you'll need to be aware of how much you can reasonably afford to borrow in a mortgage. In today's post we'll take a look at a few ways that you can analyze your financial situation to help decide how much mortgage you can truly afford. Prepare An Honest Monthly Budget The first step in understanding how much of a monthly payment you can afford is to create an honest monthly budget which includes all of your family's … [Read more...]

Filed Under: Home Mortgage Tips Tagged With: Mortgage Affordability, Mortgage Financing, Mortgage Loan Information

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Kim Abbott

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