Debt helps determine the borrowers’ creditworthiness and commitment to their financial obligations. Understanding the different types of debt and how they affect mortgage approval helps potential homebuyers take the necessary steps to get higher chances of securing a mortgage. Moreover, recognizing the factors when evaluating a borrower’s debt-to-income ratio will help individuals meet the criteria before applying for a mortgage. 1. Credit Card High credit card debt... [read more]

We can all agree with this — buying a house is a milestone. However, this can be financially draining due to mortgages and high interest rates. Paying your mortgage for decades may seem overwhelming, especially for first-time home buyers and those with limited financial resources. However, don’t give up just yet on purchasing your dream home. We’ll share nine ways to help you save on your mortgage. 1. Build Your Credit Score People with high credit scores are considered... [read more]