Buying a home is a very big part of the American dream. A home is the foundation of a well off life because it provides financial and emotional security.
To gain this valuable possession you need to first qualify for the home. To successfully qualify for a home, your individual financial profile should be in good standings and your debt-to-income ratio should be well balanced.
A good financial profile provides a bank the information needed to ensure your housing expenses and debt payments don’t take up the majority of your income.
When you are a homeowner, the last thing you want to do is set yourself up to be financial uncomfortable after buying your home.
You can buy a quality home at an affordable price by comparing your proposed monthly payment (PITI) with your total household gross monthly income.
As for your debt-to-income ratio, you can estimate your monthly housing payments by comparing your gross (pre-tax) monthly earnings and your monthly debt requirements. Your monthly debt expenses can include credit cards, car loans, student loans, or consumer loans, just to name a few.
Here at Jeremy Walsh Real Estate, we are here to put you in the home of your dreams at a price you can comfortably afford. If you’re a Maryland First-time homebuyer, we will ensure that your mortgage and family will be in good hands.
Read 3 Tips On Buying A Home In Maryland for more information.
If you have any questions on buying a home or selling a home, please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!
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