Buyer Resources and Information

What is the standard debt-to-income ratio?

A standard ratio used by lenders, limits mortgage payments at 28 to 36 percent of the borrower's gross income on average. Combined with all other debts the limit is generally 36 percent of your total yearly income.

The fact that some loan applicants are accustomed to spending 40 percent of their monthly income on rent -- and still promptly make the payment each time -- has prompted some lenders to broaden their acceptable mortgage payment amount when considered as a percentage of the applicant's income. 

Other real estate experts tell borrowers facing rejection to compensate for negative factors by saving up a larger down payment. So if you are contemplating a home purchase, it's time to check in with a reputable lender.

Do you qualify for a home loan? 

1st. time buyer?

Move up buyer?  

Speak with one of preferred Lenders for information specific to your goals. Mortgage lending varies between companies and you may wish to speak with 2 or 3 lenders before committing to a financial application for a loan. 

Go to our Home Page and click on our Preferred Lender tile.

When is the best time to buy?

There is no set criteria for the best time to purchase your new home. Although In our current market conditions, with interest rates hovering at the 4% mark, the time has never been better to make a purchase. If your tired of paying rent and need a tax break, then the time is right for you. If you're a move up buyer, grab these low interest rates now and get more home for your money. It's all good and an experience Realtor and Lender can help you every step of the way!

Where do I get information on local housing market statistics?
Your RE/MAX New Beginnings agent has a wealth of knowledge right at their fingertips. We provide local housing reports, current MLS housing availability information and real time data for certified Market Analysis, giving you straight forward insight into the world of real estate!

"No One Sells more Real Estate than RE/MAX"

RE/MAX New Beginnings
RE/MAX New Beginnings
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1424 Sulphur Spring Rd Baltimore MD 21227
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