If you want to buy house before the end of 2023, you need to do these 5 things!
Buying a house obviously comes with a down payment typically but saving money in the bank is not the only goal you should have. The other is working on is your DTI. Your Debt to Income Ratio is by far the most overlooked number buyers don’t address. Lower your credit score is one great goal but how much money you have going out to coming in is a huge factor in the interest rate you will get and how much money your new home will cost you monthly.
Rates are the biggest part of your mortgage and DTI affects both your credit score to lenders as well as your approval amount, and what interest rate you qualify for. So being a spender can cost you more than what is on the bottom of all your receipts. Saving money isn’t just for down payments; it’s for saving you money on your mortgage and lowering debts!
Each of these 5 tips to saving for a home lower your DTI, improve your credit score, help you qualify for a better home and interest rate, and save you money for decades to come. 💵💵💪🏼💪🏼😎😎
Jennifer Larson 