Tony Burns at Fairway Independent Mortgage NMLS 285634

03/25/2025

💰 Monday Mortgage Tip: Know Your Budget, Live Your Life! 🏡
Thinking of a new home? Fantastic! But don't let those thoughts turn into financial nightmares. 😱 Being "house poor" means your mortgage eats up so much of your income, you can't enjoy life's little pleasures.
Here's how to avoid it:
1️⃣ Calculate your true monthly budget: Include EVERYTHING - groceries, bills, entertainment, savings, etc.
2️⃣ Use the 28/36 rule: Your mortgage (including taxes and insurance) shouldn't exceed 28% of your gross monthly income, and your total debt shouldn't exceed 36%.
3️⃣ Factor in unexpected costs: Repairs, maintenance, and those "just in case" moments add up and they do happen!
4️⃣ Don't max out your pre-approval: Just because you're approved for a certain amount, doesn't mean you have to spend it all.
Let's make sure your home supports your lifestyle, not suffocates it. 💖
www.TonyBurnsMortgage.com

03/20/2025

Five years strong! 💪
Fairway Independent Mortgage Corp. is honored to be recognized as a Best Place to Work again. This milestone fuels the commitment to continuous improvement and innovation, ensuring we remain a top workplace for years to come. We're looking forward to building an even brighter future together! hashtag

Employee feedback alone, informs the rankings. Winning companies were chosen based on the results of surveys taken throughout 2024.

03/18/2025

This really resonated with me. Last year, both Bill Murphy and William Dawes challenged me with a question that's stuck with me ever since. This simple question has become a critical filter for my decision-making process.. It's transformed how I approach decisions. Are you committed, or just interested---Are you in or are you out? 🤔 Big thanks to these two incredible coaches for the lasting impact.

03/17/2025

🏠 Mortgage Monday Tip! 🏠
Dreaming of owning a new home? One crucial step before applying for mortgage pre-approval is to avoid taking on any new debts! 🙅‍♀️💳
Why? Lenders look closely at your debt-to-income ratio (DTI). New credit cards, car loans, or even those "buy now, pay later" deals can significantly impact your DTI, potentially:
📉 Lowering your credit score
🚫 Reducing your pre-approval amount
❌ Causing your application to be denied
Pitfalls to watch out for:
Impulse purchases: That new furniture set or electronics might have to wait!
"Easy" financing: Those store credit cards with tempting discounts can hurt your long-term goals.
Co-signing loans: Even if it's for a friend or family member, it adds to your debt burden.
Pro-Tip: Focus on paying down existing debts instead! 💰
Let's make homeownership a reality! ✨
www.TonyBurnsMortgage.com

03/10/2025

Monday Mortgage Tip: It's a common misconception that you always need a full two-year work history to get a mortgage. While that's often preferred by lenders, there are exceptions. Here's a breakdown:
The Standard: Two-Year Work History
Lenders like to see a stable employment history. This indicates a reliable income stream, which is crucial for paying your mortgage.
The two-year mark provides a good overview of your earning consistency.
Exceptions and Considerations:
Changes in the Same Field: If you've switched jobs within the same industry, lenders may view this positively. This demonstrates career progression.
Recent Graduates: Lenders often make exceptions for recent graduates entering their field of study. Your education can be considered as part of your "work history."
Military Service: Military service is generally viewed favorably and can often offset a lack of traditional work history.
Self-Employment: Self-employment requires more documentation, but it's possible to qualify. Lenders will typically want to see at least two years of tax returns.
Future Income: In some cases, especially with documented future income, a lender may make an exception. For example, if you have a signed contract with a future start date and a guaranteed income, this could be used to help qualify.
Explanation of Gaps: Be prepared to explain any gaps in your employment history. Valid reasons, such as returning to school or caring for a family member, may be considered.
While a two-year work history is ideal, it's not always mandatory. Lenders assess the overall picture, including your credit score, debt-to-income ratio, and assets. If you would like to learn more don't hesitate to connect.
www.TonyBurnsMortgage.com

03/06/2025

Stop waiting for the 'perfect' market! 🛑🏠
Here's why trying to time the real estate market can be a costly mistake:
Unpredictability: Market fluctuations are influenced by countless factors. No one has a crystal ball!
Missed Opportunities: While you wait, your dream home might get snatched up.
Interest Rate Risks: Waiting can mean higher interest rates, which increases your long term costs.
Life Happens: Your needs might change, and the 'perfect' time might never come.
Instead of waiting, focus on:
Your financial readiness.
Your long-term goals.
Finding a property that fits your needs NOW.
Real estate is a long-term game. Don't let fear of 'what if' keep you from your goals.
www.TonyBurnsMortgage.com

03/05/2025

Imagine starting your day with an empty bowl. 😔 Many in our community face that reality. You can help! Join The River Food Pantry's Match Madness cereal drive. Your donation will be matched, providing twice the breakfast for those who need it most. Let's fill bowls & hearts! Donate now: Link to donation page below

Help Other People Eat for the Holidays with The River Food Pantry!

03/04/2025

It's easy to get caught up in the 'shoulds and coulds' of life. But are you spending your time on what truly matters? Your actions are the real tell