Student loans can be an obstacle for many when pursuing their dream of buying their first home. Aside from having the debt that can pose a challenge in getting approved for a loan, paying down school loans can also cripple your ability to save for important things such The post Does Having a Student Loan Affect a Mortgage Pre-Approval? appeared first on Acclaim Mortgage ..read more

Debt-to-income (DTI) ratio determines what mortgage you’re eligible for. So before getting pre-approved, your mortgage advisor will review your income and debts to help you understand where you currently stand. In this article, we’re going to look at what a debt-to-income ratio is and what to expect when you The post What is the Max Debt-to-Income (DTI) Ratio for A Mortgage? appeared first on Acclaim Mortgage ..read more

Many homebuyers across the U.S. wonder how to save for a down payment with a tight budget. With rent rates climbing, inflation rising, and house prices still high, saving money for a down payment has become more tricky.The good news is that you can use several tips and The post How to Save for a Down Payment on a Tight Budget appeared first on Acclaim Mortgage ..read more

Both house and rental prices have risen, pushing many to contemplate the benefits of buying vs. renting in 2022. Renting is usually the more affordable option, but with rent payments being nearly equal to buying a home, is waiting to buy a home even worth it? Don’t worry because The post Why Buying A Home Still Makes Better Financial Sense Than Renting appeared first on Acclaim Mortgage ..read more

There are plenty of reasons why you should boost your credit score. But if you’re preparing to purchase a house, know that an exceptional credit score can increase your chances of getting a lower interest rate on your home loan. If you want to raise your credit score, there The post Top Ways to Raise Your Credit Score-Fast! appeared first on Acclaim Mortgage ..read more

Not all loan products are the same, nor are borrower situations. For first-time homebuyers, you’ll most likely hear about the most popular 30-year fixed-rate conventional loan, and there’s no arguing that it's a great loan product for most buyers but not in all circumstances.However, other mortgage options could The post Choosing the Best Mortgage Options for Unique Circumstances appeared first on Acclaim Mortgage ..read more

Whether purchasing your first house or refinancing your existing mortgage, you might have considered working with a mortgage professional. A mortgage professional, such as a loan officer or broker, can help you save time and money, offer sound advice when dealing with tough situations, and help guide you The post How Working with A Mortgage Professional Can Save You Money appeared first on Acclaim Mortgage ..read more

Getting mortgage pre-approval is one of the first steps toward buying your dream home. Pre-approval boosts the likelihood that the seller will accept your offer and gives you a detailed quote for your homebuying budget. But homebuyers often hesitate because they think that pre-approval hurts their credit score. Will it? The The post Will Pre-Approval Hurt My Credit? appeared first on Acclaim Mortgage ..read more

Follow these tips and expert insight to help you get your budget in order and get yourself ready to buy your first home. 1. Organize Your Finances You may know how much you have in your bank accounts, but do you know how much you spend on household The post Simple Budgeting Tips for First Time Home Buyers appeared first on Acclaim Mortgage ..read more