Have you been asked to cosign by someone looking to get a home loan approval? You may be wondering why they would ask or how this affects you. This article will help you to understand both of these points. 

Why Were You Asked To Cosign? 

These are the top reasons that home loan applicants seek a co-borrower:

• Income: People may ask for a cosigner to include more income on their mortgage application. Higher income on the application can make it easier to get approved or borrow more from the lender.
• Credit score: Having someone with a higher credit score may help to secure a lower rate. 
• Employment: Little or poor employment history can prevent mortgage approval. Having a cosigner with better employment history can aid in getting

Ever wonder why it's essential to keep your debt in check when applying for a mortgage or what debt matters to your approval? This article will help you answer these fundamental questions so that you're in a great position to get approved for a home loan.

All About Debt-To-Income Ratio (DTI)

Your debt-to-income ratio (DTI) is one of the most critical metrics lenders use to determine how much home you afford because it directly influences the monthly payment you can qualify for.

DTI is a ratio that compares your existing monthly payments with your gross monthly income before taxes. Depending on the mortgage program and your qualification metrics, two types of calculations are used in mortgage qualification: 

• Front-end DTI -looks at the

Lately, it feels like more and more visitors to Middle Tennessee are falling in love with this gorgeous region and deciding to join one of our communities. If you’re headed our way, especially if you are already planning to move here soon, we recommend downloading the following top travel apps! For traveling like a local, nothing beats these Tennessee-centered treasures.

If you already live here but are going to be traveling out of the area, skip to Part Two. We have also rounded up the best all-around travel apps that will help you blend in with the locals wherever you roam. Part Three includes helpful apps for traveling in general.

Part One: Apps for Visiting Middle Tennessee

My TN

Android | iOS

If you’re interested in exploring

If you’re a first-time home buyer here in Middle Tennessee, you probably know this is one of the biggest purchases you’ve made. Additionally, each stage of the process is quite complex and can leave buyers feeling stressed and overwhelmed. 

In order to make your financing, shopping, bidding, escrow, and closing easier, Parks Realty recommends joining forces with one of our Accredited Buyer’s Representatives, or ABRs. What follows is a brief, partial overview of what your buyer’s agent will do for you.

Financing

Your ABR will assist you with analyzing your finances and determining how much you can safely spend on your home. Next, your ABR will help you choose from among trusted sources for your mortgage loans. 

Once you have an idea of

When you move into your first home, electricity may be far down your list of things to keep track of and understand. As long as the lights and outlets work, you’re probably good to go at the beginning. However, if you’re going to be an informed homeowner, it’s smart to have a rough idea of how the electrical power grid works in Middle Tennessee, how to manage your home’s breakers, and what constitutes a warning sign of an electrical issue. 

Middle Tennessee’s Power Grid

Depending on your home’s location, you’ll most likely be pulling your power from either Nashville Electric Service or Middle Tennessee Electric. Unlike the stressed and overtaxed electrical grids powering California and Texas, our power grids are stable, modern, and prepared to

Curb appeal is likely part of what first drew you to your home, so it makes sense to keep your property’s exterior at least as beautiful as it was then. A damaged and neglected driveway would naturally detract from the overall impression one would get upon arriving at your home. Today, we’re sharing the best ways to help your driveway look good and last longer than you might have hoped. By following the tips below, your valuable driveway will be the envy of your block in the coming years.

Regular driveway maintenance prevents difficult and costly issues, so make prevention a priority this summer and all year long! Your driveway’s lifespan will depend on routine maintenance and the care you take to protect it.

Tips for Maintenance: An Ounce of

One of the perks of a mortgage is the "mortgage interest deduction." Read on to learn what a mortgage deduction is, how much you can reduce from your taxable income, and how you can take advantage of this tax incentive.

About Mortgage Interest Deduction

The mortgage interest deduction is part of your itemized tax deductions, and it subtracts any interest you've paid on loans used to build, purchase or renovate a property. This means that you can subtract a portion of the mortgage interest for primary and secondary homes every year when you do your taxes. This, in turn, reduces the amount you owe Uncle Sam. 

To be clear, this perk does not include payments you've made to your homeowner's and private mortgage insurance (PMI). Here's a list of

Veterans have benefits awarded exclusively to them for their dedication and service, including disability and education compensation, career training, health care, and even home loans. However, with federally-funded home loans, there is more than one option. When it comes down to it, what is the best – FHA loans or VA loans? This article will help you understand and make an informed decision on which loan is best for you. 

FHA Loans

An FHA loan is a US Federal Housing Administration mortgage insured by the government and provided by an FHA-approved lender. The requirements for FHA loans are not that hard to obtain, especially when it comes to the credit score. For example, some of the requirements for FHA are: 

• A credit score of 580 or

If you are considering purchasing a property to rent through Airbnb or are debating converting a current long-term rental into a short-term rental, you're likely weighing the pros and cons of running an Airbnb in Middle Tennessee. 

You’ve probably heard that renting properties through Airbnb, VRBO, or booking.com can be far more lucrative than long-term renting, which can be true but isn’t always so. Furthermore, even a successful Airbnb host may decide that the gig isn’t a good fit for their personality, lifestyle, and location.

So, let’s dive right in: what are the pros and cons of becoming an Airbnb host?

The Pros

1.) Higher Income Potential

The first, most obvious benefit to choosing short-term rentals is that they bring in

Southern American barbecue is a genuinely unique cuisine. Each region within the South takes pride in its own style of slow barbecue cooking, and Tennessee is no exception. In the east, Tennesseans prefer pork shoulder and chopped whole hogs with a vinegar sauce. In Memphis, dry and wet pork ribs and pulled pork shoulder reign supreme. 

At Parks Realty, we adore every Southern barbecue style! Whichever way you prefer to cook your cuts, we hope you take advantage of these warm summer nights and turn your own back yard into a culinary destination, sending aloft aromas that will make mouths water all around your neighborhood.

If you’re a beginning pitmaster, the following list of backyard barbecue must-haves will equip you to turn out succulent