Buying a home for the first time proves to be a learning experience. Here are three takeaways from my experience: Debt-income ratio plays a big role It may not matter if you’ve got plenty of cash stashed away for a down payment. A lender wants to see that your debt-income ratio is low, since studies […]
3 Things First-Time Homebuyers Should Know
WRITTEN BY: Joanna Rini, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, rini.41
REVIEWED BY: Katie LaPlant, Extension Educator, Family and Consumer Sciences, Ohio State University Extension, laplant.8@osu.edu
SOURCES:
- http://www.consumerfinance.gov/askcfpb/1791/what-debt-income-ratio-why-43-debt-income-ratio-important.html
REFERENCES:
- http://www.consumerfinance.gov/askcfpb/122/what-is-private-mortgage-insurance.html