Homeownership Hub

Your debt-to-income ratio compares your monthly debts to your income. Lenders use this to determine if you can comfortably afford your mortgage payment.

Before applying, gather key documents like income statements, employment history, bank statements, and identification to help streamline the process.

An appraisal determines the value of the home you want to purchase. It ensures the property is worth the loan amount.

Loan-to-value compares your loan amount to the home's value. A lower LTV typically means less risk for the lender.

Your interest rate determines how much you’ll pay to borrow money. It directly affects your monthly payment.

The principal is the amount you borrowed for your home. Each payment reduces your balance over time.