Bills Credit Debt Property Taxes 
Savings Corner
DECEMBER 25, 2023
A lot of factors go into that assessment, and the main one is debt-to-income ratio. Your debt-to-income ratio is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support.
Family Balance Sheet
DECEMBER 29, 2020
Years ago, there was a month where I hadn’t planned on a large property tax bill and I wasn’t sure where we were going to find the money. One January, we received a very large credit card bill in the mail. I am a planner by nature, so I leaned into my spreadsheets. This is a 12-month spreadsheet.
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Savings Corner
DECEMBER 25, 2023
To calculate how much house you can afford, we take into account a few primary items, such as your household income, monthly debts (for example, car loan and student loan payments) and the amount of savings available for a down payment. How does your debt-to-income ratio impact affordability? How much house can I afford with a VA loan?
Family Balance Sheet
JUNE 4, 2015
However a few years ago, we found ourselves with too much debt and not enough cash. Within a year after settlement, we found ourselves with a lot of debt, not enough cash flow, and very little set aside for emergencies. As much as I wanted to be a property owner, the extra debt was beginning to suffocate us.
Savings Corner
DECEMBER 24, 2023
Check your credit score Your credit score will help you determine your financing options; lenders use it (among other factors) to set the terms and rates of your loan. The higher your credit score, the lower the interest rate you will be eligible for — which means that lower scores equate to more expensive mortgages.
Savings Corner
APRIL 4, 2024
Learn the approval requirements and prequalify (if offered by the lender) before applying to minimize your potential credit damage. The steps may vary depending on whether you’re looking for debt consolidation loans , home improvement loans, medical loans or wedding loans. Some lenders may also consider your work history or education.
Savings Corner
APRIL 4, 2024
Here’s generally how it works: The lender will do a credit check. This increases your mortgage debt but gives you money that you can invest or use to fund a goal, like a home improvement project. You can use these funds as retirement income, to pay medical bills or for any other goal. You’ll pay for a home appraisal.
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