๐ Buying A House In The US Without Checking Location - Reduce Resale Value
A house may look nice and have a good price, but if the area has low demand, lacks parking, or has poor school ratingsโฆ its value can decline over time.
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My parents gave me money for down payment, my husband and I are applying for the mortgage loan together. If the deed gives me a higher ownership percentage, can the loan still be approved?
Having different ownership percentages on the deed (for example, 80% under your name and 20% under your spouseโs name) is usually NOT the main factor in loan approval. Lenders mainly focus on:
โข Income
โข Credit
โข DTI (Debt-to-Income Ratio)
โข Down payment source
๐ก Donโt Let Your Home Loan Process Become Unnecessary Stress!
๐ If you are preparing to buy a home or are first time home buyers, make sure you understand the process before signing your loan documents!
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