COMPARE CLOSING LLC

Cash Out Refinances  on  Rental Property Do you know Why the banks like to  Cash Out Refinance on Rental Property Today we will discuss about  cash out refinance on rental property  the passive income and why banks want to give money to you on your rental properties. You probably took a mortgage on a rental property when you bought it. But the banks like the properties which are purchased on cash so that you have some skin in the game! and you own that rental property upfront. The truth is that when it comes to investing your money, getting rental properties, growing your portfolio,  doing it the BRRRR, ( Buy Renovate Rent Refinance Repeat ) method seems to be the right way. However, the real deal of real estate investment is that you need to get money out of the investments that you have made. The key to getting your money from your rental property is to  refinance and get a cash-out . This is an age-old strategy that all the investors have used to build their wea

Understanding  Debt To Income Ratio for Mortgage  (DTI) The  Debt to Income ratio for a mortgage  is one of the most important things when applying for a mortgage after credit score and loan to value ratio. Understanding debt to income ratio is significant as it would help you to know how lenders qualify a borrower based on  DTI . Today we will learn the phenomenon of DTI and understand the math behind it. The Term DTI Mostly, your DTI is going to compare what you owe and what you make every month. It is going to take the amount of money you pay towards your debts every single month and divide that by how much you make every month. You may have debts like credit cards, student loans, car loan, and any other personal loans. You may or may not have more than one source of income. If you are employed your paycheck is your primary source of income which you get may bi-weekly or monthly, depending on the terms of the organization you work with. There could be other sour