Note Tip – January 2019

Over the past two years, a high debt to income ratio has been the #1 reason to decline a conventional mortgage application. If you are selling a property and negotiating terms in order to carry the note, you must know the debt burden your buyer is carrying. Make sure you are comfortable that your buyer can handle the monthly note payment, property taxes and hazard insurance. Your note is probably for 10-30 years.  Know your buyer as much as possible.