Monthly Expenses

This is how much you spend every month. It can include but is not limited to, recurring obligations like rent or mortgage payment, utilities, car payments, child support payments, and insurance payments, as well as essentials like food. Most of these obligations will have a fixed due date. “Mortgage Key Terms.” Consumer Financial Protection Bureau, Accessed … Read more

Loan-to-Value Ratio

The loan-to-value (LTV) ratio is a measure comparing the amount of your mortgage with the appraised value of the property. The higher your down payment, the lower your LTV ratio. Mortgage lenders may use the LTV in deciding whether to lend to you and to determine if they will require private mortgage insurance.   “Mortgage Key … Read more