There are many benefits that come with owning a home and having a home mortgage. Home ownership is certainly a benefit in itself, but a larger, more tangible benefit comes from the tax breaks that you can qualify for as a home owner. However, there are invariably many tax benefits that come with home mortgages.
A qualifying ratio used in underwriting a residential mortgage loan, which computes the percentage of monthly income, required to meet the monthly housing expense. See debt to income ratio.
An individual or company that brings borrowers and lenders together for the purpose of loan origination. A mortgage broker is a person or business that acts as an intermediary between the lender and the borrower. A mortgage broker is technically an agent and not a principal in the loan transaction. A mortgage broker can help