The Secret to Success When Buying in Northern Virginia
Hmmm there seems to be a problem fetching this series right now. Last successful fetch was on January 19, 2023 02:18 ()
What now? This series will be checked again in the next day. If you believe it should be working, please verify the publisher's feed link below is valid and includes actual episode links. You can contact support to request the feed be immediately fetched.
Manage episode 154931038 series 1139850
Buying a Northern Virginia home? Get a full Home Search
Selling your Northern Virginia home? Free Home Price Evaluation
There are four crucial numbers that affect your buying power that you need to be aware of, especially from a lender's perspective. Keep the following four things in mind if you plan on buying a home anytime soon:
- Credit Score. This helps a lender understand your creditworthiness. The higher your credit, the better chance you have of getting the loan amount you desire.
- Down payment. The higher your down payment is up front, the lower your payment is going to be. In many cases, a high down payment also results in a lower interest rate!
- Debt-to-income ratio. How much debt do you have compared to your income? The lower this ratio is, the better.
- Your assets. What are your financial resources? A lender will want to take a look at your income and your financial assets. The more impressive they are, the better luck you’ll have getting the financing you seek.
Give us a call or shoot us an email with any questions. We would love to help you!