To put it nicely, 2020 hasn’t been the best. But one good thing to come out of this year is the historically low mortgage rates. Here are four ways you can use a home’s equity to work by refinancing.
The economic impact of COVID-19 has us all searching for creative ways to make ends meet. One way is to consider the simple, effective option of debt consolidation. Debt consolidation is when you combine multiple high-interest loans into a single, lower-interest payment, potentially saving you hundreds of dollars each month.
With a home equity line of credit, you can turn your house into the home you’ve spent the last few months (or years) imagining.
It probably feels like you’ve waited forever to build your forever home, but before you sign on the dotted property line, ask yourself these questions to make sure you’re really ready.
LMCU’s $50,000 Home Makeover Sweepstakes is bigger than ever—with a $15,000 second place prize and a $5,000 third place prize.
What is DTI ratio?
Before you can improve your DTI ratio, it helps to know what a DTI ratio is. DTI stands for debt-to-income. It’s a comparison of your monthly debt payments versus your monthly income. Your calculated DTI ratio is used to help lenders get an idea of how well you manage monthly expenses, which helps them determine if you’ll be able to repay a loan.