Understanding the Debt-to-Income ratio: what it is and why it matters When you begin the homebuying process and apply for a home loan, you will encounter a term known as debt-to-income ratio. Debt-to-income ratio, or DTI, is the sum of all your monthly debt obligations divided by your gross monthly income. This is …
A guide to VA loans for veterans
Celebrating Veterans Day: a spotlight on VA loans for our heroes As we gather to honor and celebrate Veterans Day, it’s a moment to reflect on the sacrifices made by the brave men and women who have served in our armed forces. One of the most significant ways we can support our veterans is by ensuring they are aware …
Guide to home improvement financing options
Unlocking your dream home Home improvement projects can breathe life into your living space, increasing functionality and even enhancing the value of your Florida property. Whether it's a minor renovation or a complete overhaul that one is looking at, it's all about understanding your financing options. Here's a …
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Mortgage refinance: 7 key factors
Is now a good time to refinance? Refinancing can be a good financial move in Florida depending on several factors, such as interest rates, your credit score, and your long-term financial goals. Right now, interest rates have fluctuated due to recent changes in the economy, so the best time to refinance is when you can …
Lock in the interest rate and shop for a home stress-free
Lock to Shop program Shopping for a Florida home without locking in your mortgage interest rate can be challenging for homebuyers. At Mortgage Equity Partners, we have created a program that will help you lock your rate while you shop. The Lock to Shop program will alleviate some anxiety around rates and make the …
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Chenoa Fund down payment assistance
How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
