What’s a Debt-to-Income Ratio?

What’s a Debt-to-Income Ratio?

Your debt-to-income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met. Debt Limit There is generally a debt limit associated with each type of loan, such as a...
What’s a Debt-to-Income Ratio?

Why Do I Need Title Insurance?

Purchasing a home is probably the single biggest investment you will ever make. When you purchase property, what you actually acquire is title to the property. Your title encompasses ownership, use and possession of the land. However, title to property may be limited...
What’s a Debt-to-Income Ratio?

FAQs for Consumers

1. What is the difference between a mortgage broker and a mortgage bank? A Mortgage Broker brokers loans out to other Lenders. A Mortgage Banker underwrites, funds and closes the loan in their own name. Because Commerce Home Mortgage operates as both a Mortgage Banker...