Vinson Bunting

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181 appearances 1 recordings 1 series first heard Jan 2025 last heard Jan 2025

Vinson Bunting’s voice in public audio — every appearance, attributed to the second.

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DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing · All About Mortgages · 31 Jan 2025 podcast

So I could say, you can get approved for this amount and this would be your monthly payment.

but it would not fit their budget at all.

So you really need to go into this knowing your budget, inside and out.

Yes, I would recommend that.

But all of our calculations were done on gross pay.

So it was probably that percentage was definitely higher based on after-tax income.

There are some loan programs out there, FHA, which is typically targeted towards first-time homebuyers that allow for much higher debt-to-income ratios, even over 50% in some cases.

Definitely don't

I'd recommend that.

Very specific cases where that might work for people.

But in general, I would not advise that.

Yeah.

If you have the room in your budget to do that, to make an extra payment once or twice a year, you can cut off the timeline significantly.

I mean, if you make a couple extra payments a year, you can cut off years off of that term, which is huge.

Yeah, that's good.

Yes.

Be wary of hidden fees.

Not necessarily hidden fees.

You can't really hide anything.

But review your loan estimates inside and out.

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