24 Jul 2025
By Mark Feder

How to Determine Your Ideal Monthly Mortgage Payment

Mortgage Tips
Buying a home is one of the most exciting financial decisions you will ever make, but understanding what you can comfortably afford each month is essential for long-term success. Your ideal monthly mortgage payment should not just fit within your budget today, but also allow for financial flexibility and security in the future. Start With Your Total Monthly IncomeBegin by calculating your total monthly household income before taxes. This provides a clear foundation for your homebuying budget. Most financial experts recommend that your total housing expenses should not exceed twenty-five to thirty percent of your gross monthly income. This includes…
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06 May 2025
By Mark Feder

The Benefits of Online Mortgage Calculators for Borrowers

Mortgage Tips
Buying a home is one of the most significant financial decisions a person can make, and understanding the costs involved is essential. Online mortgage calculators have become a valuable tool for borrowers, helping them estimate monthly payments, compare loan options, and determine affordability, all from the convenience of their computer or phone. Understanding Mortgage Costs Before You ApplyOne of the biggest challenges homebuyers face is understanding how different factors impact their monthly mortgage payment. Loan amount, interest rate, loan term, property taxes, homeowner’s insurance, and private mortgage insurance (PMI) all contribute to the final cost. Mortgage calculators allow borrowers to…
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23 Apr 2025
By Mark Feder

How Child Support and Alimony Payments Affect Mortgage Qualification

Mortgage Tips
When applying for a mortgage, lenders carefully assess your income and debt to determine your ability to repay the loan. If you receive or pay child support or alimony, these payments can significantly impact your mortgage qualification. Understanding how they factor into your debt-to-income (DTI) ratio, income calculation, and overall loan approval process can help you better prepare for home financing. How Lenders View Child Support and Alimony Lenders evaluate child support and alimony payments in two key ways: If You Receive Child Support or Alimony—These payments may be considered additional income, helping you qualify for a higher loan amount.…
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25 Mar 2025
By Mark Feder

Navigating Mortgages as a Self-Employed Professional

Mortgage
Securing a mortgage as a self-employed professional can be more challenging than for traditional W-2 employees, but with the right preparation and documentation, it is entirely achievable. Here's a guide to help you navigate the process: Document Your IncomeLenders need to assess your financial stability and income consistency. To do this, you'll need to provide: Tax returns for the past two years Profit and loss statements Bank statements Client invoices or contracts Consistency is key, so showing steady or increasing income over time strengthens your application. Manage Your Tax ReturnsMany self-employed individuals minimize their taxable income through deductions, but this…
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