Hazard insurance is a term sometimes used to describe the coverages that homeowners insurance provides for certain risks, according to the Consumer Financial Protection Bureau (CFPB). Some common examples of hazards (also referred to as perils) that are often covered by homeowners insurance include fire, theft and vandalism, among others. Mortgage lenders usually require proof […]
Debt-to-Income is known in the industry as DTI. The percentage of a consumer’s monthly gross income that goes toward paying debts. Each loan program has their own restrictions for DTI and what is acceptable. Contact a Bailey & Wood Mortgage Consultant for more information.