Mortgage Blog
The Advantages of Upfront Underwriting
Envoy’s goal is to deliver a fast, easy mortgage process to our customers from start to finish, and our Upfront Underwriting system is a big part of what makes us so successful. The sooner you can prove to a seller that you’re ready to make a purchase, the greater your chances of successfully closing on a home.
Providing Information for Lenders
Lenders take a hard look at your financial history and personal life while they consider your request for a loan. They’re not doing it to be invasive but to make sure their investment will be protected if they choose to enter an agreement with you. Read on for a closer look at why lenders require so much information and what you should be ready to provide.
Maintaining a Healthy Debt-to-Income Ratio
Your debt-to-income (DTI) ratio is the percentage of your monthly income that goes toward debt payments: credit cards, student loans, auto loans, and anything else you owe money on. Since getting a home loan means taking on another large debt, it helps to have a low DTI ratio during your mortgage process so lenders know you have enough available income to cover their payments.
Why Our Excellent Realtor Rating Matters to You
It’s obviously very important for you to trust both your lender and your Realtor, but it’s just as important they trust each other. A positive, lasting working relationship between lenders and Realtors is evidence they both get results for their customers, and their close collaboration will make your mortgage process faster and more efficient.
How to Budget for Closing and Beyond
If you’ve already been budgeting for a substantial down payment, great job. However, you should also save up for closing costs and the expenses associated with moving into a new residence to make sure you can finish the home buying process successfully and comfortably. The following information should help you plan for the last legs of your home buying journey.
Pushing Yourself Through the Home Buying Process
Like any of life’s most worthwhile pursuits, buying a home can take a lot of time, effort, and dedication. If you’ve been searching for the right property for what seems like ages without any signs of progress, try not to get discouraged—you have to keep moving to reach the finish line. Here are some strategies that can help you accomplish any big goal, buying a home certainly included: