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Contingencies

When you put in an offer on a home, you can specify certain conditions that must be met before the deal will go through – these are called contingencies. You have to make sure you can actually get the loan (a financing contingency), that the inspection doesn’t show anything too crazy (inspection contingency), and that…

Carry-Cost Rule

The carry-cost rule is used by banks to evaluate borrowers for loans.  It gives the maximum percentage of a borrower’s income that the bank will find acceptable to carry the loan and related housing costs.  This rule is used in conjunction with the debt/equity ratio. Junk MTV quiz graced by fox whelps. Bawds jog, flick…