What Does Ability To Repay Mean?

Mortgages:

  Looking to secure a home loan in the Tampa Bay area and curious about the “Ability to Repay” rules? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over...

What Is The Debt-To-Income Ratio (DTI)?

Buying, Financing:, Mortgages:

  Starting the home buying process in the Tampa Bay area? One term you may hear your lender use is “DTI” or Debt-To-Income Ratio. Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability...

What Is Equity?

Mortgages:

  Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this video shows – you have a house worth $300,000 today and you owe the bank...

What Are Real Estate Commissions?

Title and Closing

  Like the video says – real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent represents the sellers and another represents the buyers the commission is...