Questions — Home Buying

Lenders evaluate Capacity (income/debts), Capital (savings), Credit (score), and Collateral (the home itself).

Serious red flags include structural foundation problems, major water damage, or outdated/faulty electrical wiring.

A general rule is to keep total housing payments (including taxes and insurance) below 28% of your gross monthly income. home buying questions

A letter from a lender confirming how much they are willing to lend you based on a review of your income and credit.

Ensure items like security systems or water heaters are not leased. A letter from a lender confirming how much

A deposit showing you are committed (usually 1-2% of the price) that applies to the down payment.

Proper grading is vital to prevent water from flowing toward the foundation. Proper grading is vital to prevent water from

A guideline for financial health: save 3 months of living expenses, have 3 months of mortgage payments in reserve, and thoroughly research 3 properties.