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Friday, December 23, 2016 - 2. -Buying a home while paying off student loans is hard

Debt-to-income ratioSome millennials manage to buy homes while they're paying off student loans because they don't have much other debt. Lenders use your debt-to-income ratio, often called DTI, to determine whether you have enough income to afford a mortgage payment.  

posted in English at Fri, 23 Dec 2016 19:47:13 +0000



Thursday, December 22, 2016 - 1. -Buying a home while paying off student loans is hard

Saving money to buy a home is especially difficult if you make student loan payments. For many millennials, saving to buy a home while making student loans payments is "close to impossible," Whether it's doable depends on: *       How much you owe. *       How much of your take-home pay goes toward student loan payments. *       How much you spend on other things. *       Your level of determination. Millennials who get a nice starting salary with plenty of upside potential might be able to pay ... Full Article...

posted in English at Thu, 22 Dec 2016 22:12:37 +0000



Wednesday, December 21, 2016 - 5. -Here's how to save for a down payment

Market timing   Millennials might well be concerned that home prices or interest rates could rise while they accumulate savings, making it more costly for them to buy -- or pricing them out of certain markets. Indeed, home prices have already gone up sharply in some areas, "The longer they wait, the longer they feel they won't be able to purchase anything, so they want to purchase sooner rather than later," A lot of millennials prefer to delay buying a home despite the risk of higher prices and ... Full Article...

posted in English at Wed, 21 Dec 2016 19:47:24 +0000



Tuesday, December 20, 2016 - 4. -Here's how to save for a down payment

Where to find savingsOne good place to look for savings is literally a place, that is, your current home, says Ronit Rogoszinski, wealth advisor at Arch Financial Group in Garden City, New York. If you're paying 30% or more of your income for rent, consider moving to a cheaper apartment so you can set aside more money every month to buy a home. "It's great to want to live in downtown Manhattan, but you're paying $2,400 a month," Rogoszinski says. "That's not going to work. A lot of people need ... Full Article...

posted in English at Tue, 20 Dec 2016 21:52:46 +0000



Monday, December 19, 2016 - 3. -Here's how to save for a down payment

The way to save   A good way to set a monthly saving goal is to subtract your current rent from your estimated mortgage payment, including principal, interest, property tax, homeowner insurance and mortgage insurance. Save the difference. This strategy has 2 huge benefits,  One benefit is building your savings. The other is getting used to your anticipated budget as a homeowner. "If you're consistently not able to meet that savings target, maybe it's time to rethink your housing budget and get ... Full Article...

posted in English at Mon, 19 Dec 2016 21:37:21 +0000



Friday, December 16, 2016 - 2. -Here's how to save for a down payment

    Down payment Money from your savings that you give to the home's seller. A mortgage pays the rest of the purchase price. It's usually expressed as a percentage: On a $100,000 home, a $13,000 down payment would be 13%. The best way to climb that mountain is to start, even if the undertaking seems huge and you set aside small initial amounts. "Just get started,"  "Start setting something aside as savings every month, no matter how big or small. You can always build on it."

posted in English at Fri, 16 Dec 2016 19:32:25 +0000



Thursday, December 15, 2016 - 1. -Here's how to save for a down payment

    Millennials who are paying high rent and making student loan payments might find it daunting to save to buy a house. For some, it's impossible. Others might be able to do it if they have the discipline to set aside money rather than spend it. The biggest mountain for most millennial homebuyers is the down payment, says Karen Carr, a financial planner with Society of Grownups, a financial planning firm in Boston

posted in English at Thu, 15 Dec 2016 22:01:19 +0000



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DID YOU KNOW AS SELF EMPOYEED WITH GOOD CREDIT HISTORY we can state the income if you have had your business for 2 years or more ? write to am.mortgage@shaw.ca

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