GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

What Is A Debt-To-Income Ratio?

What Is A Debt-To-Income Ratio?

  If you’re wondering how much home loan you may be able to qualify for, you need to know about DTI—Debt to Income Ratio. What Is A Debt-To-Income Ratio? Your proposed monthly housing expenses are added together. These include principal, interest, taxes, insurance, mortgage insurance (if required) and any applicable homeowner’s association or similar fees. This total is combined with your regular monthly debt payments, such as those for credit cards or car loans. Your DTI is the percentage of your gross monthly income represented by this total. Example: Monthly Housing and Debt Payments = $2,000 Monthly Income = $6,000 DTIR = 33%...

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MarketMinute | Is The Market Cooling?

MarketMinute | Is The Market Cooling?

The economy grew 2% in the 3rd qtr, its slowest rate since the end of the 2020 recession. The slowdown is due to supply chain issues and reduced consumer spending. Orders for big-ticket items dipped 0.4% in September. Durable goods orders fell for the first time since April as manufacturers grappled with supply chain bottlenecks. Initial unemployment claims fell to a pandemic low last week as the job market continues to recover from last year's coronavirus recession. House prices rose 19.8% year over year in August, the same as July, according to Case-Shiller....

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MarketMinute | What's up with first-time buyers?

MarketMinute | What's up with first-time buyers?

Supply chain issues continue to contribute to rising inflation, as manufacturers and distributors of goods struggle to deliver as much as pre-pandemic levels. The Fed said employers reported significant increases in prices and wages even as economic growth slowed to a “modest to moderate” pace in September and early October. Jobless claims hit another pandemic low, dropping to 290,000 last week, the 3rd straight drop. Continuing claims also continued their steady decline. Homebuilding unexpectedly fell in September. Permits dropped to a 1-year low amid...

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MarketMinute | How Are Appraisals Impacting Deals?

MarketMinute | How Are Appraisals Impacting Deals?

Minutes from their last meeting show the Fed feels the economy is close to reaching their prescribed targets to begin tapering bond buying soon, pressuring rates higher. Consumer prices grew slightly more than expected in September, when food and energy increases offset declines in used car prices. Inflation can contribute to higher rates. Jobless claims fell last week to the lowest since March 2020, as employers hang onto their workers in the tight labor market. Continuing claims dropped to 2.6 million.   Foreclosures are rising, but numbers should stay...

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Conventional Loan Limits Have Increased!

Conventional Loan Limits Have Increased!

  Conventional Loan Limits are increasing effective immediately! As home prices continue to rise, this update gives home buyers more wiggle room to qualify. Loan Limits Just Got Higher We are happy to announce that we now offer conforming loans up to $625,000 , about $75,000 beyond our previous limit! Previously, conforming loans were available up to $548,250. With recent changes, that limit has increased to $625,000 . What can this mean for you? You can potentially borrow more through a conventional, typically lower rate loan . You may be able to access lower down payment options for larger loan amounts without paying mortgage...

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