The money that you have left from your salary after taxes are taken out and you pay your regular monthly bills
A high disposable income is a plus since lenders will feel more comfortable that you can pay your monthly mortgage payments with ease. A high disposable income can also allow you to save money towards the down payment. Normally, a lender looks at your disposable income when you apply for a VA loan, and sometimesa FHA loan.
Disposable income is also referred to as residual income.
Mortgage definitions and Real Estate Terms, Consolidating loans, refinancing mortgages and reverse mortgage process available to anyone. This consumer information site contains several tools and guides to aid in purchasing or refinancing a home or commercial property.
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Showing posts with label FHA loan. Show all posts
Showing posts with label FHA loan. Show all posts
Sunday, April 16, 2006
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