Tag Archive for: debt

When Debt Is a VERY GOOD Thing! (& Why We Love Tradelines)

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We often have clients who come to us looking for their first home, very proud that they’ve “never had an ounce of debt” in their “entire life.” No credit cards, […]Read More

Debt: A Common Reason for Mortgage Denial

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There are several reasons why homebuyers may be denied when applying for a mortgage. Pre-existing debt can be one of these reasons. Debt is one of the more common reasons for loan denial in California and throughout the country. When homebuyers have a great deal of debt, it is detracted from their income during the mortgage qualification analysis conducted by the bank. In some cases, debt reduces the amount of income below the necessary amount needed to cover future monthly mortgage payments.Read More

Will Student Loans Impact a Pre-Approval in Dallas?

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The national student loan debt has now surpassed $1.6 trillion and comprises 42% of all consumer debt. Millennials have most of the student debt, which has increased by 130% since 2008. Graduates in Dallas, Texas on average finish school with $24,000 in student loan debt.Read More

Mortgage Debt Hits Record High of $9.4 Trillion! Time to Worry?

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  According to this WSJ article, mortgage debt hit a record high of $9.4 trillion in the 2nd Quarter of this year. This exceeds the previous record of $9.3 trillion […]Read More

California Buyers Worry Student Loans Prevent Pre-Approval

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Millennials in California have some most of the student loans, which has increased 130 percent since 2008. With all these outstanding balances, it’s no wonder that California buyers are afraid that their student loans will prevent them from qualifying for a mortgage payment. Nearly 57% of all millennials (people born between 1981 and 1996) have student debts that they are still making payments on.Read More