dulvalius asked:


Me and my wife’s name are on the mortgage, when a lender checks my dept to income percent, after they run my credit and see the house payment and credit cards etc; do they allocate the full house payment in to my dept or half of it since my wife is part owner as well?

I only have a $920 a month house payment and 2 credit cards with no balance, after doing the math of 16-20% DTI it doesnt leave me a whole lot to bargain with a monthly payment for a car, I make $3200 a month. But I have also read that lenders dont want your dept to exceed 40-50% gross pay which sounds alot better to me, Im aiming for a $400-450 car monthly note.

looking at $22,000-$25,000 total loan amount for auto, 750ish credit score with 11 months for home mortgage… 2 years of one credit card and 7 months of another around $500. limits, thats my credit history .

ODELL

Ernesto Maitim asked:


Admittedly there are many reasons that we can think of that will warrant getting a home mortgage refinance loan. Of course, our main concern is to ensure that we still have the ownership of our home, and so have to have to refinance home mortgage. But still, we are having second thoughts about whether we need this refinance loan or not. So, how do we really know if home mortgage refinance loan is a good idea?

 

One good reason for refinancing home mortgage is to work for a much better and lower interest rate. Great news is that if you have a much better financial status and your credit rating has improved, you are now in a better position to apply for home mortgage refinance loan; this will lead you to getting better rates. If you acquire lower rates, this means you are faced with lesser amount of mortgage payments every month.

 

On the other hand, if you are unable to acquire lower interest rates, you can also try to lower your monthly mortgage payments by lengthening the term of your mortgage loan. You can try applying for home mortgage refinance loan with a 30 or even fifty year duration; this in turn decreases that amount of monthly payments that you need to face, and hence allows you to be more financially in control.

 

So with these great benefits of home mortgage refinance loans, there is no reason to be dilly dallying about getting such refinance loans. It simply makes repayment of your mortgage a whole lot easier.  However, one important tip to remember is to carefully choose your refinance loan, specifically zooming down on the issues of duration of term and its rates. Hopefully, getting the appropriate refinance loan will ensure no overpayments for it.

 

For more interesting articles and discussions tackling home mortgage refinance loan and other similar mortgages refinancing topics, do visit our blog at http://refinancehomemortgage4u.com/ .



BERT