Twenty years ago the economy was putting the dot-com bubble behind it, and people were buying homes. The high majority of folks worked for someone else; they received a paycheck, were given a W-2 from their employer, and filed their income tax returns accordingly.
From saving up for a down payment to sussing out the ideal lender, there are so many things involved in purchasing a home that can make it seem like a rather complicated undertaking. However, like a lot of things in our lives, technology has streamlined the process in recent years. If you’re currently searching for a home on the market, here are some new technological advancements that may make buying a little easier for you.
For those who are looking to buy a home soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. A low DTI may make it easier for the lender and the underwriter to justify making a loan to the borrower.
According to the Federal Reserve’s quarterly Senior Loan Officer Survey, it’s getting easier to get approved for a home loan.