Along with credit score and total assets, the debt-to-income (DTI) ratio is an important component for lenders. Even people with perfect credit scores can be turned down from their dream mortgage if their debt is too high in proportion to their income. It is important to not only understand what the DTI ratio is, but also discuss other aspects of the sometimes confusing mortgage process with a mortgage lender prior to searching for a new home to purchase. How can potential home buyers become a more attractive candidate for a loan?
For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.
What Exactly Is DTI?
When lenders calculate your debt-to-income ratio, or DTI, they
Many people who buy homes also want one with a garage. However, many people's garages become a storage space for everything they can't fit into their home. Whether it's seasonal decorations or that exercise machine someone ordered on a late-night infomercial, the space can become crowded quickly. This may work out fine—until homeowners realize that they can't find anything or that there's no room for any additional items. Here a few ways that everyone can get their garage in order.
Use the Walls
The walls are absolutely crucial for homeowners who use this area for storage. Group similar items together on shelves, or hang large items on hooks along the wall. This not only makes it easier to locate certain items, but it will also give everyone
Selling a home can be both an exciting and challanging time in a homeowners life. One item that will need to be dealt with by a Canadian home seller is the Seller Disclosre Form. There have been cases of issues discovered by unsuspecting Canadian home buyers after closing on a home. Sellers may not have disclosed or been aware of problems such as mould behind walls, foundation cracks and basement flooding.
Sellers should understand that they may want to share certain types of information when selling a home and buyers would do well to take time to review a seller's disclosure. Understand more about a seller's disclosure on the sale of property in Canada.
For informational purposes only. Always consult with a licensed real estate professional
Selling a home can be stressful, especially if the buyer is unprepared or has unrealistic expectations. Fortunately, you can often identify these buyers from a distance, if you know the signs. If you're a homeowner who will soon be selling your home, watch out for these buyer red flags.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Contingencies are statements written into the home purchase contract that allow the buyer to cancel under certain circumstances. Some contingencies commonly appear in most home purchase contracts. The financing contingency allows the home buyer to cancel if their loan doesn't fund. This is a very
In the first year of homeownership, many homeowners are too busy unpacking and making home improvements to focus much on upgrading their home's landscaping. If you're a new Northeast Calgary homeowner who would like to keep your new home looking nice but you don't have much time for making major landscaping changes, these tips can help.
Don't Be Afraid to Prune (or Remove!)
Old shrubs can start to look scraggly or overgrown with time. Pruning shrubs rejuvinates them. Once the leaves grow back, they look almost new. Most plants need to be pruned in spring or fall. Homeowners who aren't sure when to prune their shrubs can check with a local nursery to find out when is the best time.
When a home buyer has finally found a home that they love and want to buy it, it comes time to make an offer. But what many buyers don’t realize is that there’s more to making an offer than just naming a price. Offering on a home requires extra pieces that all work in tandem to convince the homeowner to accept it. Here is what all home buyers need to include in their offers to make them the best they can be.
For informational purposes only. Always consult with a licensed real estate professional and mortgage broker before proceeding with any real estate transaction.
1. The Offered Price, Down Payment, and Earnest Money
The most important part of an offer is of course going to be the price that the buyer wants to pay. Whether it’s $50,000
There is no such thing as perfection when it comes to customer service in real estate. Some agents may have mastered their skills more than others, but it's always going to be a never-ending quest to get right. Yet those agents that take the time to learn from their mistakes are usually the same ones who end up with a very long and fruitful career.
Committing to Your Craft
It's easy to be pleasant when there's only one fire to put out every few months. But in customer service, agents and those dealing with the public need to be ready to handle crisis after crisis without losing their cool. Those who find themselves starting to crumble after their first major issue may find it hard to handle the next one. Decisions like whether to buy a home
Although for the past several years foreign investment has fueled the real estate market and driven prices to new heights in select Canadian cities, those days may be ending. The frenzied buying habits of wealthy investors has been a mixed blessing for many cities, notably West Coast markets above and below the Canada/US border. Asian investment in cities including New York, Boston, Houston and Miami, is also well documented, but has not led to the unparalleled price increases experienced in Vancouver, B.C.
Escalating prices, properties left empty and untended by foreign owners, and an influx of non-resident owners has changed the face of real estate in some of those West Coast cities, including Seattle and San Francisco, and in other Canadian
Window installation is a major home improvement project. Doing it right can improve your home's efficiency for years to come. If you're a homeowner who is thinking about installing new windows in your home, here's what you need to know.
Why Install New Windows
Often, homeowners install new windows to improve energy efficiency and boost the value of their home. Some homeowners install windows to make their home easier to sell. Other benefits of new windows include:
Improved comfort in the home.
Ease of use.
Windows last for decades, but most windows need to be replaced once they're about 30 years old. Homeowners often decide to install new windows when their old windows are nearing the end of their
Recording devices designed to provide security for a homeowner are commonplace today. Whether they're used to make sure the nanny is giving adequate care to children or to ensure the security of the perimeter of the home, home sellers could also be recording every transaction that occurs when a buyer is touring the home. While it's natural for homeowners to want to know what a potential home buyer really thinks about their Northeast Calgary home, the information they glean from these recordings could also be used to their advantages during negotiations.
Innocent Banter Could Contain Valuable Information
It's normal for home buyers to talk among themselves regarding the features they find attractive as well as those that are questionable.