Tip:If your DTI is too high, you might be able to lower it by putting more money down and/or buying down your interest rate, both of which will reduce the monthly payment. So there are always options if you take a wrong turn! Stated Income to Avoid Debt-to-Income Ratio Problems For...
The first one is the change from 150% to 225% of the federal poverty guideline factor when calculating discretionary income. Discretionary income is a key variable, since income-driven repayment plans use a percentage of discretionary income (currently 10% to 20% depending on the plan) to calc...
While that’s a good guideline to follow, you may need less money than that in youremergency fund, or you might need more. The following factors can let you know whether you should plan on saving more or less. How Steady Your Job Is ...
Why? Well, I have no intention of applying for any of the federal benefits one is eligible for when their income is below (or even at exceeding multiples of) the poverty line, such as the National School Lunch Program, Food Stamps, Home Energy Assistance Program, Medicaid, etc – as many...
If you read this entire post, it probably took you more than five minutes. But you can use this as a guideline. Now you know what to look for and what to watch out for. I guarantee that if you do, it will take you less than five minutes to make a decision about the fund you ...
Secured Loans - A loan secured by property is also an acceptable source of closing funds. IRA, 401K, Keogh & SEP - Any amount that can be accessed is an acceptable source of funds. Sweat Equity and Cash On Hand - Generally not acceptable. FHA programs allow it in special circumstances. ...